Tuesday, 26 September 2017

38 Incredible Facts About The US Dollar

38 Incredible Facts About The US Dollar




A New Legal Tender

Leading up to the 20th century, there were four main forms of U.S. currency being used:
  • Gold and silver coins
  • Gold and silver certificates
  • Commercial bank notes, issued by private banks and backed by government bonds
  • “Greenbacks”, a fiat currency declared legal by Congress to help fund the Civil War
In 1913, however, the Federal Reserve Note was authorized as U.S. currency. The new notes were supposed to be backed by gold or other “lawful money”, based on the stipulations of the Federal Reserve Act of 1913.
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Courtesy of: The Money Project


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