Timeline Of American Currency
By Timeline of American currency we mean the progression and role of money in the American economy. It was only in the year 1690 the paper money made its way into the economy. The credit goes to The Massachusetts Bay Colony, which issued paper currency in various colonies of United States. |
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Through the times of American Revolution the colonist supplied paper currency (with the inclination that it was exempted from tax) to finance the war during revolution. It was supplied to Continental Congress in 1775.
Soon after, in 1781, the Bank of North America – the first national bank – came into existence in Philadelphia. In 1785 the Continental Congress anticipated dollar to be the official monetary system. That was not to be the case as the existence dollar came through only after some years. Subsequently, in 1791 First Bank was incorporated with an aim to simplify commerce. Paper notes were issued and the bank began functioning as Central Bank for US Treasury. Further, the federal monetary system was setup in 1792. Subsequently, after the U.S. Mint came into being in Philadelphia. The very next year in 1793 the first American coin was created.
Bank of the United States – the second bank of United States – was established in 1816 and was chartered until 1836.
Paper money came into use and almost 1600 private and local banks started circulating paper money for transactions. And along with this came in forged notes as they were easy to replicate.
Going further ahead, in 1861, the Civil War created panic for Congress as it was required to fund the war. But the Congress was under a lot of pressure to fund the Civil War. But it was on the verge of liquidation. The treasury was asked to issue notes which were known as ‘demand notes’. Later the Demand Notes were overtaken by Greenback. By the start of 20th century the department of Engraving and printing began functioning for note printing and processing.
By 1929 all the currencies issued depicted standard designs, and also their size shrunk to 75% of the original size. Security threading and micro-printing came into being in 1990 to combat counterfeit currency.
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Thailand has had history of several types of currencies being used since its development. There are diverse ranges of currencies such as bracelets, stones, pebbles, pearls and others, which were adopted by Thailand in its early years. It is believed that sandalwood coins were also adopted as currencies in Thailand. Gradually, Thailand started employing metallic coins as their unit of currency. 
