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The currency of the American colonies, 1700–1764: a study in colonial finance and imperial relations. Dissertations in American economic history. New York: Arno Press, 1975. ISBN 0-405-07257-0. Ernst, Joseph Albert. Money and politics in America, 1755–1775: a study in the Currency act of 1764 and the political economy of revolution. Chapel ...
The Marteau Early 18th-Century Currency Converter A Platform of Research in Economic History. Historical Currency Conversion Page by Harold Marcuse. Focuses on converting German marks to US dollars since 1871 and inflating them to values today, but has much additional information on the history of currency exchange. Gold in US Geological Survey
Before the Civil War, the United States used gold and silver coins as its official currency. Paper currency in the form of banknotes was issued by privately owned banks, the notes being redeemable for specie at the bank's office. Such notes had value only if the bank could be counted on to redeem them; if a bank failed, its notes became worthless.
During the American Civil War silver and gold coins were hoarded by the public because of uncertainty about the outcome of the war. People began to use postage stamps instead, encasing them in metal for better protection. The U.S. government decided to substitute paper currency of denominations under a dollar for coins in order to solve the ...
A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the United States. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money other than the currently issued Federal Reserve Note.
The Paper Money Riot, or Exeter Rebellion, was an armed uprising in Exeter, New Hampshire, on September 20, 1786. Following the American Revolution, the nation, states, and many individuals were deeply in debt. The lack of specie and paper currency in circulation made the payment of
Up to the mid-1990s, American money had changed little since the end of silver coins in the mid-1960s, and some of the denominations, including the paper notes and the nickel, had barely changed since the 1930s. Beginning in 1996 with the $100 and $50 bills, paper money was redesigned to deter counterfeiting.
The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000. [1] As the war began to turn against the Confederates, confidence in the currency diminished, and the government inflated the currency by continuing to print unbacked banknotes.