Wednesday, September 29, 2021

How Much Is My Dollar worth?

Although experiments with paper money did occur throughout the early history of the country, they were largely unsuccessful. People, for good reason, didn't trust the notes and preferred gold and silver coin. In 1861, needing money to finance the Civil War, Congress authorized the issuance of Demand notes in $5, $10 and $20 denominations. The Demand notes were so named because they were redeemable in coin "on demand." The notes were nicknamed Greenbacks, a name which is still in use today to refer to United States currency.

By the 1870s the debate between supporters of the gold or silver standard began to dominate national politics. Bankers and others involved in international trade feared that considering silver as money would undermine the economy. In contrast, most farmers favored coining silver hoping it would increase their income. These farmers went on to form the 'Populist' party in 1892.

1) How much is that piece of paper in your wallet really worth?

2) How long do you have to work to earn $1?

3) How much you can buy with $1?

4) Is our dollar worth more or less than other currencies around the world?

5) Is it worth the same today as it was 100 years ago?

6)  Just where does our paper money come from anyway?

7) What are the symbols on the dollar and what do they mean?

8) Does the new U.S. $20 bill contain hidden pictures?

9) What is the 'Fed' and how does it regulate the value of our money?

10) What are the two main mandates of the Fed?

11) Who can really coin money?

12) Why can't they just print as much as they want?

13) What are the conspiracy theories about the Fed?

14) What is the largest denomination US bill ever printed?

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