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Colonial Bills
The Colonial economy depended largely on foreign coins, barter, and commodity money. In 1690, the Massachusetts Bay Colony issued the first Colonial currency. -
Franklin's Unique Counterfeit Deterrent
Benjamin Franklin's printing firm in Philadelphia printed colonial bills with nature prints---unique raised impressions of patterns cast from actual leaves. This process added an innovative and effective counterfeit deterrent to bills, not completely understood until centuries later. -
British Ban
Following years of restrictions on colonial paper currency, Britain finally ordered a complete ban on the issuance of paper money by the Colonies. -
Continental Currency
The Continental Congress issued paper currency to finance the Revolutionary War. Continental currency was denominated in Spanish milled dollars. Without solid backing and easily counterfeited, the bills quickly lost their value, giving rise to the phrase "not worth a Continental." -
The Bank of North America
Congress chartered the Bank of North America in Philadelphia as the first national bank, creating it to support the financial operations of the fledgling government. -
The Dollar
Congress adopted the dollar as the money unit of the United States. -
Monetary System
The Coinage Act of 1792 created the U.S. Mint and established a federal monetary system, set denominations for coins, and specified the value of each coin in gold, silver, or copper. -
Greenbacks
The first general circulation of paper money by the federal government occurred in 1861. Pressed to finance the Civil War, Congress authorized the U.S. Treasury to issue non-interest-bearing Demand Bills. These bills acquired the nickname "greenback" because of their color. Today all U.S. currency issued since 1861 remains valid and redeemable at full face value. -
National Banking System
Congress established a national banking system and authorized the U.S. Treasury to oversee the issuance of National Banknotes. This system established Federal guidelines for chartering and regulating "national" banks and authorized those banks to issue national currency secured by the purchase of United States bonds. -
Bureau of Engraving and Printing
The Department of the Treasury's Bureau of Engraving and Printing began printing all United States currency. -
Gold standard
Bimetallism persisted until March 14, 1900, with the passage of the Gold Standard Act, which provided that the dollar consisting of twenty-five and eight-tenths grains (1.67 g) of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard. -
Paper Currency with Background Color
The last United States paper money printed with background color was the $20 Gold Certificate, Series 1905, which had a golden tint and a red seal and serial number. -
Federal Reserve Act
The Federal Reserve Act of 1913 created the Federal Reserve as the nation's central bank and provided for a national banking system that was more responsive to the fluctuating financial needs of the country. The Federal Reserve Board issued new currency called Federal Reserve Notes. -
In God We Trust
The use of the National Motto In God We Trust on all currency has been required by law since 1955. It first appeared on paper money with the issuance of the $1 Silver Certificates, Series 1957, and began appearing on Federal Reserve Notes with the 1963 Series. -
Security Thread and Microprinting
A security thread and microprinting were introduced to deter counterfeiting by advanced copiers and printers. The features first appeared in Series 1990 $100 bills. By Series 1993, the features appeared on all denominations except $1 and $2 bills. -
Currency Redesign
In the first significant design change in 67 years, United States currency was redesigned to incorporate a series of new counterfeit deterrents. The new bills were issued beginning with the $100 bill in 1996, followed by the $50 in 1997, the $20 in 1998 and the $10 and $5 bills in 2000. The Bureau of Engraving and Printing announced that new designs would be undertaken every 7-10 years to stay ahead of currency counterfeiters. -
Secret Service Integrated Into Homeland Security Department
Protecting the security of the dollar against counterfeiting takes its place side-by-side with other homeland security efforts, as the U.S. Secret Service is integrated into the new U.S. Department of Homeland Security. -
The New $5 Bill: Safer. Smarter. More Secure
A redesigned Series 2006 $5 bill was issued on March 13, 2008. The redesigned $5 bill retains two of the most important security features that were first introduced in the 1990s and are easy to check. -
The New $100 Note: Know Its Features. Know It's Real.
Officials from the U.S. Department of the Treasury, the Federal Reserve Board and the United States Secret Service unveiled the new design for the $100 note on April 21. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency. -
THE LEHMAN BROTHERS CASE ANNIVERSARY
Anniversary of the Lehman Bothers Scandal
