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PRESENTATION OUTLINE

HISTORY OF MONEY

BY JESSICA AND ALEXESS

COMMODITY MONEY

  • 1607-Present
  • Was just trading between native Americans and European colonists

STATE/LOCAL BANK NOTES

  • Each colony had their own currency.
  • Some places paper money was exchanged for gold.
  • 1713-1744

CONTINENTAL dOLLAR

  • 1775-1783
  • United States a national currency based off 80 and each note would be $80.00.
  • Once counterfeits were made, they stopped using them

DEMAND NOTES/ GREEN BACKS

  • 1861-1862
  • A loan with no set payback time.
  • Objective was to pay government workers and military personnel during the war.

US NOTES

  • 1862-1971
  • Replaced the failed demand notes
  • They were not backed by gold so not many people trusted or used them.

NATIONAL BANK NOTES

  • 1863-1935
  • Used by banks in the US
  • Backed by bonds and deposited into US treasury

NATIONAL BANKING SYSTEM

  • 1863-1913
  • Would float federal war loans
  • Set national currency
  • Prevent national crises

SILVER CERTIFICATES

  • 1878-1974
  • Department of treasury issued silver certificates in place for silver dollars

GOLD CERTIFICATES

  • 1863-1933
  • These settled gold accounts

TREASURY COIN NOTES

  • 1890-1891
  • Issued to people selling silver bouillon to the treasury.
  • Released gold or silver when the prices would go up or down.

GOLD STANDARD

  • 1880-1914
  • Used to fix currency by a specific amount of gold.
  • During wwi

IN CONVERTIBLE FIAT MONEY STANDARD

  • 1930's
  • FIAT money cannot be exchanged for gold or silver
  • Happened because federal notes were backed by legal mean and not by good or silver

FEDERAL RESERVE NOTES

  • 1915-1934
  • Issued by United States government
  • Incorporates characteristics of money

FED

  • 1913-
  • US first true central bank
  • Purpose is to loan money to banks in need

FDIC

  • 1933-present
  • Deposit insurance guarantying safety in the account.
  • Managed by the bank