|
Commissary Notes
Commissary notes were financial certificates issued by the departments of the quartermaster and commissary-general on behalf of the Continental Army during the American Revolution. Due to the rapid depreciation of the Continental currency, the Continental Congress authorized soldiers to provide commissary notes as compensation for impressed supplies. However, the widespread use of these certificates further contributed to the trend of currency devaluation. Although distinct from the paper currency issued by the Continental Congress, commissary notes were accepted during state tax collections. Consequently, a large portion of the nearly worthless Continental notes remained in circulation despite Congressional attempts to improve credit through a reduction in the money supply. Origins Given the revolutionary army’s lack of supplies when compared to the British, the Continental Congress recognized the need to impress certain goods and, in late 1776, allowed General George Washington ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continental Army
The Continental Army was the army of the United Colonies (the Thirteen Colonies) in the Revolutionary-era United States. It was formed by the Second Continental Congress after the outbreak of the American Revolutionary War, and was established by a resolution of Congress on June 14, 1775. The Continental Army was created to coordinate military efforts of the Colonies in their war for independence against the British, who sought to keep their American lands under control. General George Washington was the commander-in-chief of the army throughout the war. The Continental Army was supplemented by local militias and volunteer troops that were either loyal to individual states or otherwise independent. Most of the Continental Army was disbanded in 1783 after the Treaty of Paris formally ended the fighting. The 1st and 2nd Regiments of the Army went on to form what was to become the Legion of the United States in 1792. This became the foundation of what is now the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continental Currency
Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the willow, the oak, and the pine tree shilling) in 1652. Because few coins were minted in the Thirteen Colonies, which later became the United Colonies and then the United States, foreign coins like the Spanish dollar were widely circulated. Colonial governments, at times, issued paper money to facilitate economic activities. The British Parliament passed Currency Acts in 1751, 1764, and 1773 to regulate colonial paper money. During the American Revolution, the Colonies became independent states. No longer subject to monetary regulations arbitrarily imposed by the British Parliament, the States began to issue paper money to pay for military expenses. The Continental Congress also issued paper money during the Revolution — known as Conti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknotes Of The United States
Banknotes of the United States dollar are currently issued as Federal Reserve Notes (1914–). Previous banknote versions that have been issued include: Silver Certificates (1878–1964), Gold certificates (1865–1934) and United States Notes (1862–1971). Federal Reserve Notes Federal Reserve Notes were first issued in 1914, and differ from their predecessor Federal Reserve Bank Notes in that they were liabilities of the whole Federal Reserve System. They were redeemable in gold until 1933. After that date they stopped to be redeemable in anything, much like United States Notes (which later led to the halting of the production of United States Notes). They switched to small size in 1929 and are the only type of currency in circulation today in the United States. They were originally printed in denominations of , , , , , , , and . The , , and denominations were last printed in 1945 and discontinued in 1969, making the bill the largest denomination banknote in circulation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Creation
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased. In most modern economies, money creation is controlled by the central banks. Money issued by central banks is termed base money. Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks that practice fractional reserve banking expands the quantity of broad money to more than the original amount of base money issued by the central bank. Central banks monitor the amount of money in the economy by measuring monetary aggregates (termed broad money), consisting of cash and bank deposits. Money creation occurs when the quantity of monetary aggregates increase.For example, in the United States, money supply measured as M2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The United States Dollar
The history of the United States dollar began with moves by the Founding Fathers of the United States of America to establish a national currency based on the Spanish silver dollar, which had been in use in the North American colonies of the United Kingdom for over 100 years prior to the United States Declaration of Independence. The new Congress's Coinage Act of 1792 established the United States dollar as the country's standard unit of money, creating the United States Mint tasked with producing and circulating coinage. Initially defined under a bimetallic standard in terms of a fixed quantity of silver or gold, it formally adopted the gold standard in 1900, and finally eliminated all links to gold in 1971. Since the founding of the Federal Reserve System in 1913 as the central bank of the United States, the dollar has been primarily issued in the form of Federal Reserve Notes. The United States dollar is now the world's primary reserve currency held by governments worldwide fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United States
The economic history of the United States is about characteristics of and important developments in the U.S. economy from colonial times to the present. The emphasis is on productivity and economic performance and how the economy was affected by new technologies, the change of size in economic sectors and the effects of legislation and government policy. Specialized business history is covered in American business history. Colonial economy The colonial economy was characterized by an abundance of land and natural resources and a severe scarcity of labor. This was the opposite of Europe and attracted immigrants despite the high death rate caused by New World diseases. From 1700 to 1774 the output of the thirteen colonies increased 12-fold, giving the colonies an economy about 30% the size of Britain's at the time of independence. Population growth was responsible for over three-quarters of the economic growth of the British American colonies. The free white population had th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Constitution
The Constitution of the United States is the Supremacy Clause, supreme law of the United States, United States of America. It superseded the Articles of Confederation, the nation's first constitution, in 1789. Originally comprising seven articles, it delineates the national frame of government. Its first three articles embody the doctrine of the separation of powers, whereby the federal government of the United States, federal government is divided into three branches: the United States Congress, legislative, consisting of the bicameralism, bicameral United States Congress, Congress (Article One of the United States Constitution, Article I); the Federal government of the United States#Executive branch, executive, consisting of the President of the United States, president and subordinate officers (Article Two of the United States Constitution, Article II); and the Federal judiciary of the United States, judicial, consisting of the Supreme Court of the United States, Supreme C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timothy Pickering
Timothy Pickering (July 17, 1745January 29, 1829) was the third United States Secretary of State under Presidents George Washington and John Adams. He also represented Massachusetts in both houses of Congress as a member of the Federalist Party. In 1795, he was elected a member of the American Philosophical Society. Born in Salem in the Province of Massachusetts Bay, Pickering began a legal career after graduating from Harvard University. He won election to the Massachusetts General Court and served as a county judge. He also became an officer in the colonial militia and served in the siege of Boston during the early stages of the American Revolutionary War. Later in the war, he was Adjutant General and Quartermaster General of the Continental Army. After the war, Pickering moved to the Wyoming Valley of Pennsylvania and took part in the then colony's 1787 ratifying convention for the United States Constitution. President Washington appointed Pickering to the position of Post ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siege Of Yorktown
The Siege of Yorktown, also known as the Battle of Yorktown, the surrender at Yorktown, or the German battle (from the presence of Germans in all three armies), beginning on September 28, 1781, and ending on October 19, 1781, at Yorktown, Virginia, was a decisive victory by a combined force of the American Continental Army troops led by General George Washington and Gilbert du Motier, Marquis de Lafayette, and French Army troops led by Comte de Rochambeau over British Army troops commanded by British peer and Lieutenant General Charles Cornwallis. The culmination of the Yorktown campaign, the siege proved to be the last major land battle of the American Revolutionary War in the North American region, as the surrender by Cornwallis, and the capture of both him and his army, prompted the British government to negotiate an end to the conflict. In 1780, about 5,500 French soldiers landed in Rhode Island to help their American allies fight the British troops controlling New York Cit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Revolution
The American Revolution was an ideological and political revolution that occurred in British America between 1765 and 1791. The Americans in the Thirteen Colonies formed independent states that defeated the British in the American Revolutionary War (1775–1783), gaining independence from the British Crown and establishing the United States of America as the first nation-state founded on Enlightenment principles of liberal democracy. American colonists objected to being taxed by the Parliament of Great Britain, a body in which they had no direct representation. Before the 1760s, Britain's American colonies had enjoyed a high level of autonomy in their internal affairs, which were locally governed by colonial legislatures. During the 1760s, however, the British Parliament passed a number of acts that were intended to bring the American colonies under more direct rule from the British metropole and increasingly intertwine the economies of the colonies with those of Brit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York (state)
New York, officially the State of New York, is a state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the 27th-largest U.S. state by area. With 20.2 million people, it is the fourth-most-populous state in the United States as of 2021, with approximately 44% living in New York City, including 25% of the state's population within Brooklyn and Queens, and another 15% on the remainder of Long Island, the most populous island in the United States. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts, and Vermont to the east; it has a maritime border with Rhode Island, east of Long Island, as well as an international border with the Canadian provinces of Quebec to the north and Ontario to the northwest. New York City (NYC) is the most populous city in the United States, and around two-thirds of the state's popul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
-Connecticut_-2_Jan_1775_OBV.jpg "Click for more on -> Continental Currency")
.jpg "Click for more on -> Timothy Pickering")
