Mitchell Hansen
WRTG 900
Jennifer Leo
04/27/2010
FEDERAL RESERVE NOTE
Have you ever noticed the artwork in the United States currency? American money is a lot more than just a piece of paper; it has significant value, cultural ties, and holds its own place in history. The dollar represents our freedom from England. Our society today cannot survive without the Federal Reserve Notes created by our founding fathers.
The dollar bill is covered with numbers, designs, words and antique pictures. We only had colors green and black in our older cotton printed notes. On newer notes there is pink, purple, orange, blue and yellow, but the majority the bills are still green in nature. Our federal notes have evolved over the years as an attempt to prevent counterfeiting. (www.ustreas.gov) We print our tender on cotton fiber paper for durability and to make it harder to replicate the texture. The numbers show the denominations posted in all four corners for easy readability. The U.S. dollar bill uses the decimal system, consisting of 100 equal cents. Each bill has a coded serial number and a series of numbers giving a date on which the bill was created. The art is intricate and specifically designed to stop counterfeiting. It also has crests from the United States Treasury and United States Federal Reserve stamps. The bill has signatures from the Treasurer and the Secretary of the Treasury. It also has relevant U.S. Seals and meaningful etchings of famous, early Americans and landmarks.
In America our currency is very important because it is used on a daily basis. Even when you don't realize it, the electrical power you use in your home, gas you use to drive to work, food you eat to nourish yourself. All comes from the mighty dollar bill. It is the most sought after because everyone wants it and, in theory, you can't ever have too much of it. It is important to me because my career path is based on money. I want to be a Financial Advisor and in that area of business money is what makes the world go round. Investing, spending and saving money interests me. I enjoy watching money make more money when the right investments and business decisions are made. I like to know what is selling, what is being bought, and where the most profits are available. Our economy is very interesting and can prove to be a great source of income, because our whole economy is based on the dollar bill. Since our economy is not where it once was, the American dollar has begun to depreciate. Not long after the introduction of the euro as a cash currency in 2002, the dollar began to depreciate steadily in value. (en.wikipedia.org) This is of great concern but in time our economy will return to what it once was.
Each bill has its own symbolic representation to our freedom. The bill alone proves we have made ourselves our own country, instead of England's child. Our currency was a major step in to our independence. It makes our culture and communities survive with its use. Each bill that is spent, supports our societies and boosts our economy. Any time a U.S Federal Reserve Note is seen the thought of America and freedom comes to mind.
The Constitution of the United States of America provides that the United States Congress shall have the power "To coin Money". (en.wikipedia.org) One made of copper and one of silver with the copper mint being the one in decimal of one hundredth of the silver dollar to fifty dollars. Forming legal tender was a big step for the United States. The dollar bill has great historical importance from it's start as a coin in 1792 to the cotton paper note in 1862. The sign ($) and even the word dollar has a history as well. It was said that Oliver Pollock used the Spanish peso, as did many early Americans, instead of the British pound. Pollock was doing a lot of business with the Spaniards and using their money in the United States. In Spanish tradition, Pollock used an abbreviation for pesos, yet his penmanship made the abbreviation appear to be the transposition of the letters “p” and “s.” In 1775 Americans began trading with the Spanish milled dollars, later termed dollars as Americans began to quit using the pound. Congressman Robert Morris kept Pollock's bills and the Congressman was the first government official to give his blessing to the “S” with the two lines through it. In a 1797, a book by Chauncy Lee states, “acceptance of the dollar sign it is purely an American symbol, much as is the bald eagle.” (www.coolquiz.com) The other historical values are in each bill that is printed. Each bill has a historical figure that has great meaning to the American culture the figures are the faces of our founding fathers. They are all considered great men in their day. The bills also show the serial number giving the year they were made. This is important because in some cases the older the note, the more value it has in an auction scenario. Just because of its rarity, some bills are not printed in bulk and hold a higher value. Each bill that is made is all original with no numbers being the same. They are like snow flakes, no two are alike. The bills also have their own history because we may never know of its life cycle from the time it was printed. Spent money travels from state to state, from one hand to another, and even outside the country. This is possible because it is legal tender for all debts, public and private. So where ever money is accepted tit shall go. Money is touched by everyone so often, it is one of the most bacteria infected things we might touch in a day.
The United States currency is what proves we are an independent nation. We have gone through many struggles to have our own tender. Each struggle we have endured we have overcome and it is proven in the money we use today. Our exquisite cotton notes, in their own way, are a form of art and accomplishment. They have deep cultural impact in our lives today and will continue to impact the future. My own career and future depends on United States money and investments. Our Federal Reserve Notes give me inspiration and a sense of freedom every time I take a bill from my wallet.
• U.S. Department of Treasury. Coins And Currency, Currency, Money Facts and History. March 9th 2009 [cited 04/25/2010]
http://www.ustreas.gov/topics/currency/
• Wikimedia Foundation, Inc. United States Dollar, Overview, History. April 29th 2010 [cited 04/25/2010]
http://en.wikipedia.org/wiki/United_States_dollar#Overview
• Demand Entertainment, Inc. Where did the dollar sign come from? Dated 2007 [cited 04/25/2010]
http://www.coolquiz.com/trivia/explain/docs/dollar.asp
