Assignment: Designing Paper Currency

money (mun’e) n- {pl. moneys or monies} 1 coins or paper currency issued by a government as a medium of exchange, a means of payment, or a measure of value. 2 a visual symbol that acts as proxy for other wealth. Most notes communicate: denomination geography landmarks political history.

Portrait Denomination Seal Signature Serial Number Border Vignettes: Agriculture & Industry

THE EVOLUTION OF AMERICAN CURRENCY 1756 During early colonial times people used foreign currency or bartered. Eventually American currency began developing; however, it reflected a strong foreign influence.

Pennsylvania note Before long each state had issued their own currency. 1776

Pennsylvania note 1777 The warning on the back of this note reads, “To counterfeit is DEATH.” With each state having it’s own notes, counterfeiting was a major problem.

1777 The signatures and serial number on these early notes were all added by hand after the note was printed.

The early and middle 1800’s were known as the era of free banking. During this time banks issued their own currency. It was a system fraught with problems, as it became ambiguous from area to area as to what was valid currency. Counterfeiting was rampant. As a result, people rarely accepted bank notes from distant states and when they did it was often for a devalued rate of exchange.

Many early Bank Notes were well designed reflecting the industry, agriculture and values of the area.

Other quality free banking era notes

Other early Bank Notes were little more than crude prints that instilled little confidence in their value.

1862 During the Civil War the South used Confederate currency. After the war this money became worthless, although today, as a collectors item, it is quiet valuable.

The Civil War brought other changes to currency. The most significant was when Lincoln established a National currency. A Federal tax was placed on all local bank notes, which all but eliminated the era of free banking.

GALLERY OF FOREIGN CURRENCY

CURRENCY TRIVIA Whose portrait is on the one dollar bill? Whose portrait is on the five dollar bill? Whose portrait is on the ten dollar bill? Whose portrait is on the twenty dollar bill? Whose portrait is on the fifty dollar bill? Whose portrait is on the hundred dollar bill? WASHINGTON LINCOLN HAMILTON JACKSON GRANT FRANKLIN