Many people today don’t often use coins or paper money anymore, preferring instead the convenience of a credit card, debit card, or even a smartphone. But the history of currency in the United States is actually (surprisingly) very fascinating.
For example, did you know that there were redbacks before there were greenbacks? And that after the Revolutionary War our currency was so worthless that the phrase “not worth a Continental” was a regular part of everyday language?
But beyond these interesting tidbits, the evolution of American currency helps to frame the history of finance in the United States, as our rapidly expanding nation struggled, failed, and ultimately succeeded in creating a reliable monetary and banking system. Creating trust in paper notes has been an enduring theme in the history of American finance, banking, and currency.
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