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The most common currency used in the colonies is the Spanish Real. It is used to its high content of silver.
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The constitution gives congress the power to coin money
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The first bank of the United States is chartered.
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The Mint was created by Congress with the Coinage Act of 1792.
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England starts backing it's money with gold to prevent inflation
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The second bank of the United States is chartered.
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The Double Eeagle coin is issued.
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The BEP is formed in the wake of the civil war to help fund it.
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The United States goes on the gold standard
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The panic of 1907 begins.
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THe Federal Reserve is created with the Federal Reserve Act. The bill was signed by Woodrow Wilson.
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Small size notes are printed.
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This crash signaled a 10 year depression that ended when the United States eneterd World War II
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Executive order 6102 is signed by FDR outlawing the ownership of gold as to prevent hoarding of it during the depression.
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The United States is Bombed by the Japanese and formally eneters World War II. The depression ends when the U.S government starts spending large amounts of money on military goods to supply its allies to fight the Axis
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The Dime is converted to the profile of a historic American. (FDR)
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JFK signed executive order 11110 allowing the secretary of the treasury to issue silver certificates.
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Large denominations bills taken out of circulation
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The Dollar becomes a fiat currency. It is no longer tied to gold.
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Ben Bernanke becomes the 14th chairman of the federal reserve.
