$ WHAT DO YOU KNOW ABOUT GREEN NOTES IN YOUR WALLET? $ (part 2)
Today I’d like to present you some general facts about the first American currency and the dollar itself:
The colonists in America used whatever foreign coins they could obtain. At various times in different colonies paper money was issued and it was one of the causes of the American Revolution. The rebels financed their war of independence largely by printing paper money notes that were called Continentals (you can see them on the pictures below). By the end of the war they became practically worthless because of hyperinflation.
In 1792 the newly independent United States chose the dollar, subdivided into 100 cents, as the unit of American currency.
Foreign coins were supposed to lose their status as legal tender within 3 years of the US coins coming into circulation.
Some more old dollars:
Colonial Currency, Georgia, $4, 1776
Colonial Currency, Pennsylvania, 4 pounds, 1777
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Не that has no money needs no purse
To be continued…