Review by Brianna Richard
ECON 3052
April 13, 2005
The American Currency Exhibit is a fascinating site featuring the history
of American money. It would be useful for students and teachers while studying
money, American history, or economics. The site is broken into categories;
Tour Showcase of Bills, Tour Exhibit by Era, Tour Historical Context, View
Artistry and Imagery, and View Index of Bills.
By choosing the Tour Showcase of Bills link, students can view scans of paper
currency with examples from each era. Each bill includes a short explanation
of the bill’s origin and length of use. Students can also click on the
image to get a larger image of the bill.
Choosing the Tour the Exhibit by Era link allows students to view a few sentences
about how money was printed at this time, what currency was used, how or if
it was backed by hard currency, and how long the notes were used. The section
also includes interesting facts about money of the time. Something I found
interesting was that all U.S. currency since the first paper money was printed
in 1861 remains fully redeemable at face value.
The link Historical Context goes into more detail, telling the story of America
through our currency. The enduring theme was the constant struggle to ensure
faith of the value of paper money in its citizens. Between 1836 and 1866, for
instance, was a time of free banking, which meant that everyone and their brother
was printing bank notes. The value of the note often depended not on what was
printed on the bill’s face, but where it came from. During this time,
more than 30,000 different notes were in circulation. Between 1861 and 1865,
the Confederacy printed currency backed with cotton. They were counting on
a victory to make the bills worth more than the paper they were printed on,
but by the end of the war, they were worthless. After the Civil War, the National
Bank Act was signed to establish “national” banks. Then, after
1877, the U.S. treasury became the only institution printing American money.
During World War II, the treasury department replaced U.S. currency in countries
occupied by us with special issue notes. This was a precautionary measure in
case of invasion. If the Japanese had invaded Hawaii, the special currency
would have prevented the Japanese from seizing U.S. money, which was accepted
all over the world. The only U.S. currency issued today is Federal Reserve
notes. Though the notes were originally issued in denominations ranging from
$5 to $10,000, the $100 bill is the largest denomination printed since 1946.
My
favorite link is View Artistry and Imagery, which contains details about artistic
and symbolic imagery used on bank notes. This section is further broken
down by categories of the various icons that have been used to represent a
part of our heritage, or the American people today. Engravers have used bank
notes to express national pride, symbolize peace or war, and to trick counterfeiters.
Students can learn about “E Pluribus Unum”, which means “One
From Many”, and first appeared on the Great Seal of the United States
in 1782, or “In God We Trust” which was approved to appear on all
paper money by Congress in 1955. The link talks about our use of eagles and
portraits to show strength and history, and the use of the cornucopia which
symbolizes plenty and prosperity. Students can learn about engraving and the
intricate detail the artists create to fool counterfeiters. The last link,
View Index of Bills is just a list of every note featured on the site, and
a link to its image.
I’m not sure how long this site will be available,
but I found the information interesting, and I can see how it would be useful
in a classroom setting, especially
as a research tool for students.