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Massachusetts Bay Colony, issued the first paper money to cover costs of military expeditions, which this practice spread to other colonies.
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Franklin's printing firm in Philadelphia started printing colonial bills, with impressions from leaves, decreased counterfieting bills.
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Britian ordered a complete ban on issuing paper money by the Colonies.
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Continental Congress issued paper money to fund the War, but were easily conterfieted and quickly lost their value.
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First National Bank was chartered in Philadelphia.
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The US adopts the dollar as the official currency.
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Congress chartered the bank of the US for 20-yr period and fell then in 1811 and knew that they needed a bank to perform the nation’s financial needs.
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Coinage Act, established the federal money system. Set value of each coin is gold, silver and copper.
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First circulation of paper money to fund the Civil War. Called the Greenbacks because of their color. Nicknamed "Greenbacks" for their color
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The U.S. founded the bureau of Treasury to control counterfeit money.
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Treasury's Bureau of Engraving and Printing began printing all United States currency.
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Created as the nation's central bank. More responsive to the changing financial needs of the country. Issued new currency called the Federal Reserve Notes.
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Change in all paper money, reduction in size and manufacturing cost. Decreasing the number of designs in circulation
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Stock market CRASHED. Money was consolidated into the private bankers hands at our expense.
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The Great Depression Began
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Required by law since 1955, U.S. money will have the motto "In God We Trust," printed on it.
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First BIG change in 67 years to reduce being counterfieted. Bureau of Engraving and Printing would print new designs every7-10 years to stay ahead of counterfieting
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Protecting the dollar is done by homeland security and U.S. Secret Service is integrated into the Department of Homeland Security
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Has fine background colors with highlights from historic symbols.
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Five of the biggest investment banks met with the SEC to allow voluntary exchange of themselves, AKA banks leverage ratio.
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Worst crash since the Great Depression. Effected people around the world, millions lost their homes, jobs, and retirement funds. Small banks were grouped with bigger ones and the biggest ones then lost competition.
