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The Nations First Bank
The Continental Congress made the first bank in Philadelphia to give further financial support to the Revolutionary War. -
The Dollar
The Continental Congress adopted the dollar as the unit for national currency to replace the bank note. -
US Mint
The first US Mint was created in Philadelphia. The first American coins were struck in 1793. -
Second US Bank
The second US bank was created in Philadelphia as well and was granted a 20-year charter. -
State Bank Notes
Paper money printed out of state banks. Each state or bank has different colors and designs. -
Civil War
On the brink of bankruptcy and pressed to finance the Civil War, Congress authorized the United States Treasury to issue paper money for the first time in the form of non-interest bearing Treasury Notes called Demand Notes. -
Greenbacks
Demand Notes were replaced by United States Notes. Called greenbacks because of the green tint introduced to discourage photographic counterfeiting, they were last issued in 1971. -
National Bank Notes
National Bank Notes, backed by U.S. government securities, became predominant. 75 percent of bank deposits were held by nationally chartered banks.
