The dollar is almost the most popular and coveted currency of the globe. Recently, the market is gradually capturing the euro, which claims to be world dominant. However, the old "green" bucks is not yet losing ground. Perhaps the one who invented the dollar did not count on such a stunning reputation of his brainchild.
The most famous currencies of the world
Before we look at a brief history of the emergence of the dollar, I would like to dwell a little on the money resources of the world as a whole. Today, almost all European countries that are members of the European Union are gradually switching to a common currency - the euro. But in many still along with generally accepted national banknotes.
The most famous currencies of the world are:
- Euros are the common money of the Eurozone countries. Introduced into non-cash circulation on January 1, 1999, the currency from the beginning of 2002 began to be actively used by the population of the European Union.
- US dollars, no matter what, are still competitive money.
- The pound has always remained the national currency of Great Britain. Despite the fact that the United Kingdom was part of the European Union, or decided to again become an independent state, conservative British do not want to cheat on good old money.
- The Japanese currency is one of the most popular in the international Forex market.
- Although the range of use of the Swiss franc is small (Switzerland and Liechtenstein), this money is strong enough to participate in trading on the exchange.
Dollars of different countries
The one who invented the dollar did not suspect that a currency with the same name would exist not only in the United States. In addition to American, known:
- Canadian dollar. It is considered a commodity currency due to the large supply of raw materials and energy resources of the North American state. The Canadian dollar acquired a modern look in 1958. There are such denominations of notes: 5, 10, 25, 50 and 100 C $. Metal money is also issued.
- Australian dollar. The currency runs in the countries of the Australian Union - Cocos Islands and Christmas Islands, Norfolk. Also, money is officially recognized in Kiribati, Nauru and Tuvalu. The Australian dollar is denoted by the symbols A $ or $ A, less often - AU $ and $ AU. Banknotes in a modern form appeared in 1966. Today such denominations of banknotes are issued: 5, 10, 20, 50 and 100 A $. There are also metal dollars.
- New Zealand dollars are also the state currency of countries that are members of the New Zealand Association: the state of Niue (Savage), Cook Islands, Takelau Territory, Pitcairn Islands (territory of Great Britain). The New Zealand dollar is designated as NZ $, the local name of the currency is kiwi. Modern money was adopted in 1967. Available in denominations of 5, 10, 20, 50 and 100 NZ $, there are also metal ones.
- Hong Kong dollar is the currency of the administrative region of China, introduced as a result of the Sino-British treaty. With the participation of this money, tenders are being held between Hong Kong and European countries. Currency is designated as NK $. In total, six types of bank notes are issued in denominations of 10, 20, 50, 100, 500 and 1000 NK $, as well as coins of 1, 2, 5 and 10 dollars.
- The national currency of Singapore is also called the dollar. Money is known to the local population as ringgits. Singapore dollar - SGD - is in demand in the countries of the South Asian region. In its present form, money came out in 1999. There are eight banknotes in denominations of 2, 5, 10, 50, 100, 1000 and 1000 SGD.
- All notes of the Brunei dollar (BND) depict the Sultan Hassanal Bolkiah. Currency was introduced in 1967 and tied to Singaporean money. There are nine types of face value of banknotes: 1, 5, 10, 20, 50, 100, 500, 1000, 10 000 BND.
A brief biography of the one who invented the US dollar
The name of the creator of the most popular currency in the world is Oliver Pollock. For a long time he and his family lived in Ireland, but by the will of fate was forced to emigrate to America. At first, Pollock settled in the English colony of Pennsylvania. However, he soon moved to Louisiana, New Orleans, where he developed his own business. Along with trading, he was engaged in the cultivation of indigo, tobacco and sugarcane.
During the American Revolution of 1775-1783, known as the United States War of Independence, Pollock bought weapons from the Spaniards and resold them to American patriots. He recorded all his transactions in books, where for the first time he used the dollar sign to indicate revenue.
Dollar: $ sign history
The American currency needed to be somehow designated so that it was easily recognizable among other money from other states. All the same, Oliver Pollock invented the dollar sign on April 1, 1778. The designation of the Spanish peseta, which was common in the United States of America at that time, served as a model for a kind of logo. Two lines on top of the letter S served as a symbol of the pillars of Hercules, supporting the emblem of Spain. Two powerful columns, braided with one tape, marked the edge of the land, and the slogan on the tape read: "Nec plus ultra" - "Nowhere to go."
Soon, in order to save time, the dollar symbol began to cross out with one vertical line. So the well-known sign of the American currency was born.
In addition to the official version of the appearance of the dollar sign, there are others:
- According to the German version, the name of the money comes from the German "thaler", the reverse of which adorned the image of a snake entwining a cross. Subsequently, it was this pattern that served as the basis for the dollar sign.
- The British theory says that the famous symbol came from the designation of the English shilling S, reinforced by a vertical line.
- There is a Portuguese hypothesis regarding who invented the dollar icon. The S character is very similar to a comma, separating in numbers the tenths of the hundredths. Probably the one who invented the dollar sign, and did not suspect such a story.
- The Roman version compares the dollar sign with the symbol of the ancient Roman sestercia coin - HS. In the American version, N overlapped S and was left without a vertical crossbar.
- There is another curious version of the origin of the sign of the American currency. The so-called slave theory says that the vertical lines symbolize the pads in which the slaves were shackled, and the letter S is the bent figure of the servant.
Why is the green dollar
It is not known exactly who came up with the dollar design. Perhaps it was developed by a whole group of people. However, there are interesting facts explaining why the American currency is of such a color.
In 1869, an agreement was signed between the United States Department of the Treasury and the Philadelphia company Messers J. M. & Sox to produce special paper for watermarked money. Then the Treasury of the country began issuing the first dollars using green mascara. Thus, the one who invented the color of the dollar automatically became the guarantor of additional protection of the currency from fakes. With the advent of photography, old banknotes made in black were very easy to make using the photographic method. In addition, the use of a single color significantly saved waste.
Today, in the production of new banknotes, yellow and pink are added to the main green color.
Different names of a single currency
The word "dollar" is of Germanic origin. The German term “thaler” has various variants in other states: tallero in Italy, dalero in Spain, daler in the Scandinavian countries.
In addition to the official, there are several "popular" names of your favorite currency:
- The word "buck" arose from the English "buckskin", which means the skin of a male deer. This fur was a kind of currency among the Indians. By exchanging hides, the Apaches received the necessary things from the Europeans - salt, all kinds of tools, "fiery water", etc.
- Another dollar name - green - directly depends on its color. That is how the color of spring grass is indicated in English. This name is popular both in America and in European countries.
What American Greens Are Made From
The first dollars were issued from special paper produced by only one firm. The company did not have the right to sell its products to anyone other than the federal authorities of the United States. By the way, the ink formula is classified information from the US Bureau of Engraving and Printing.
Modern bucks are produced by two factories - it is located in Texas Fort Worth, the second - in Washington. As a material, special paper is used, which has enhanced protection in the form of microprints and special threads. In addition, in order to avoid counterfeiting, it is supposed to change the appearance of banknotes every 7-10 years. Old bills are being taken out of use gradually.
The approximate weight of one bill is one gram. The composition of the paper is as follows: 25% - flax thread, 75% - cotton fibers. Today, silk amplifiers, known before the First World War, are replaced with synthetic threads. Banknotes are very hardy, durable and do not turn yellow over time. The approximate service life of the bill is from 22 to 60 months.
Interesting facts about the buck
Having figured out what year the dollar was invented, one can tell many interesting stories that have happened to it since its foundation.
- On all banknotes of the American currency, the inscription “We trust in God” flaunts. For the first time this slogan was printed on a bill in 1864. Holy Father Watkinson suggested that the US Treasury mention a phrase from the national anthem "Star-Spangled Banner", which testified that God is always on the side of the northerners. This idea came to taste to the Minister of Finance Samon Chase, who gave the appropriate orders. At first, the motto was minted on metal dollars. Soon the phrase moved to paper notes.
- It turns out that money is unhealthy. According to scientists from Ohio, 94% of banknotes are breeding grounds for bacteria. 7% of notes contained pathogens, including bacteria that cause pneumonia, and staphylococci.
- Banknotes are a fashionable device for those who like to smell drugs. The study of this problem by specialists at the University of Massachusetts Dartmouth made it possible to detect traces of cocaine in 90% of notes.
- The dollar denomination has an image of an unfinished pyramid - an element of the Great Seal of the United States. The inscription “Our undertakings are blessed” flaunts above the pyramid, under the design - the slogan “New order of the era”. In addition to words, the “All-Seeing Eye" is depicted at the top, which is interpreted by some supporters of the Conspiracy Theory as a symbol of Freemasonry.
- Although typically US eminent men are usually depicted on currency, there was a case when a portrait of a woman adorned a 1 dollar coin. In 1886, the appearance of Martha Washington was placed on the reverse next to the image of her husband, the first president of the country, George Washington.
- During the Gold Rush in 1934, the largest one-hundred-thousand-dollar bill was printed. On the banknote was an image of President Woodrow Wilson. The money was not put into circulation, but served only for settlements of the reserve bank of the Federation. Until today, only seven such banknotes certificates have survived.
- The most expensive banknote sold at auction by collectors for two million two hundred and fifty-five thousand dollars depicts George Gordon Mead, a hero of the war between the North and the South. The denomination of $ 1,000 was issued in 1890.
Who was depicted on the first bills
Considering in which year the dollar was invented, one can understand the portraits of what famous people of that time were placed on the front side of banknotes.
- In 1918, a banknote was issued with a portrait of US Supreme Court President John Marshall. The currency had a face value of $ 500.
- Then, a thousand dollars with the image of the first Secretary of the Treasury of the United States, Alexander Hamilton, entered free circulation.
- The $ 500 bill, issued in 1934, depicts 25 United States President William McKinley.
- In the same 1934, a banknote was issued with a portrait of the 22nd and 24th US President Grover Cleveland.
- The five-thousandth bill depicts the fourth president of the United States, James Madison.
- The $ 10,000 currency is adorned with a portrait of the head of the US Treasury during the government of Abraham Lincoln (and the head of the Supreme Court afterwards) Salmon Chase. By the way, the first one-dollar bill was also issued with his image.
Portraits of the fathers of America on modern banknotes
About 35 million banknotes of various denominations go into free circulation each year in the United States. Of these, 95% are issued to replace worn out money. The one who invented the US dollar probably did not hope for such a stunning success of his venture.
The basis for the design of banknotes was approved back in 1928. The appearance of the buck was developed by an emigrant artist from Russia Sergey Makronovsky. Since then, banknotes adorn portraits of such heroes of America:
- One dollar adorns the image of the first president of the country, George Washington.
- On a two-dollar banknote is a portrait of the third president of the United States, Thomas Jefferson.
- The sixteenth head of the American state, Abraham Lincoln, is depicted on a $ 5 bill.
- The portrait of the first finance minister, Alexander Hamilton, has moved from a thousandth to a ten-dollar bill.
- One of the authors of the modern currency of the United States and part-time seventh president Andrew Jackson is imprinted on a twenty-dollar bill.
- A $ 50 banknote is adorned with a portrait of the eighteenth president of the country and Civil War hero Ulysses Grant.
- The company of heads of state is diluted with the image of the scientist, publicist and diplomat Benjamin Franklin. One hundred dollars denomination is adorned with his portrait.
Dollar denominations today
Contemplating the back of the notes, you can study a little history. Children also sometimes have to tell about the origin of the dollar, because for some reason there are a thousand questions for parents, they are also interested in such popular bucks. It is good if such stories are also instructive.
On the other side of the banknotes are drawn paintings symbolizing the development of the country as a whole. For example, a two-dollar banknote captures the signing of the United States Declaration of Independence. On the five-dollar one is the Lincoln Memorial, built in the capital of the United States. Ten bucks decorates the building of the US Department of the Treasury, and twenty - the main residence of the president - the White House. Fifty dollars depicts the Capitol, in which the US Congress sits. And finally, a building is imprinted on a hundred-dollar banknote, in which on July 4, 1776, the Declaration of Independence of the country, Independence Hall, was signed. Have you noticed? In the design of the currency, there is no hint of the one who invented the US dollar. Surname Pollock not mentioned
The exchange ability of the American currency
The Pollock case - the one who invented the dollar - continued in 1792. By law of 1792, bimetallism with free coinage of gold and silver was introduced in the United States. Since 1873, the gold dollar has become the monetary unit. Officially, the U.S. gold standard was set in 1900 with 1.50463 grams of pure gold per coin. In 1934, the dollar was devalued and depreciated by 40.94 percent, its gold content since January 31, 1934 - 0.888671 grams of pure gold.
The economic crisis after the First World War required an increase in the discount rate, which, however, did not help much. Until 1900, the dollar was freely exchanged for both gold and silver. However, since 1900 it was allowed to barter only for gold.
At present, gold dollar coins have been retired and replaced with banknotes.