Money, Money, Money: The Meaning of the Art and Symbols on United States Paper Currency by The Department of the Treasury For Kids - Click and visit Government Sites especially for Kids
From: The Colonial Williamsburg website
The history of the Department of the Treasury began in the turmoil of the American Revolution, when the Continental Congress at Philadelphia deliberated the crucial issue of financing a war of independence against Great Britain. The Congress had no power to levy and collect taxes, nor was there a tangible basis for securing funds from foreign investors or governments. The delegates resolved to issue paper money in the form of bills of credit, promising redemption in coin on faith in the revolutionary cause. On June 22, 1775 -- only a few days after the Battle of Bunker Hill, Congress issued $2 million in bills; on July 25, 28 citizens of Philadelphia were employed by the Congress to sign and number the currency.
On July 29, 1775, the Second Continental Congress assigned the responsibility for the administration of the revolutionary government's finances to Joint Continental Treasurers, George Clymer and Michael Hillegas. The Congress stipulated that each of the colonies contribute to the Continental government's funds.
| (Left) Michael Hillegas, first Treasurer of the United States, 1775-89. (Right) Robert Morris, Superintendent of Finance, 1781-84. (Bureau of Engraving and Printing) Learn about the major duties and functions of each Treasury Department Office and Bureau. |
For additional information on the history of the Department of Treasury, click on the following: https://www.treasury.gov/about/history/Pages/edu_history_brochure.aspx |
Tom Green
This mishmash of coins and paper currency could have been the day’s receipts at a single store in eighteenth-century America. Every colony had its currency, and money from England and other countries also circulated. Paper bills usually were valued lower than their coin equivalents.
From: Colonial Williamsburg Website
