6139008-History-of-Money

have endeavoured to remember that the object of life is to do good.'" This quote is remarkable when compared to othersof similar means who were Cooper's contemporaries. An article by Peter Lyon in American Heritage ("Peter Cooper, theHonest Man," February 1959, v.10, #2) notes in particular Cornelius Vanderbilt ("Law? What do I care about the law?Hain't I got the power?"), William Tweed, who plundered hundreds of millions of dollars from New York City, and UncleDan Drew ("It's the still hog that eats the most"). Cooper gave his money away without receiving any tax breaks. Asalluded to above, his family fully supported him in this, giving up their own inheritances to match a grant by AndrewCarnegie just after Cooper's death. His example directly nudged Carnegie, George Peabody, Matthew Vassar, Ezra Cornelland many others into commencing their more famous philanthropies. Cooper was the first wealthy industrialist of the 19thcentury to equate the acquisition of wealth with social responsibility. It is a tragedy that history, especially the history weteach our schoolchildren, seems to have largely forgotten this pivotal figure in the history of New York City, the UnitedStates, and perhaps the World. Peter Cooper died on April 4, 1883 in New York City at the age of 92. Thousands of NewYorkers spontaneously poured into the streets as his casket was taken to its resting place in Green-Wood Cemetary inBrooklyn, in tribute to the great man who had dedicated his life and fortune to the city he loved so well. The following is alist of the portraits on all denominations of US notes original greenbacks.Denomination U.S. Paper Currency Features$1.00 George Washington (1st U.S. President) on front. Great Seal of the United States on back.$2.00 Thomas Jefferson (3rd U.S. President) on front. Declaration of Independence on back.$5.00 Abraham Lincoln (16th U.S. President) on front. Lincoln Memorial on back.$10.00 Alexander Hamilton (1st U.S. Treasury Secretary) on front. U.S. Treasury Building on back.$20.00 Andrew Jackson (7th U.S. President) on front. White House on back.$50.00 Ulysses S. Grant (18th U.S. President) on front. U.S. Capitol on back.$100.00 Benjamin Franklin on front. Independence Hall on back.* $500.00 William McKinley (25th U.S. President) on front. $500 on back. Has not been printed since 1946.* $1000.00Grover Cleveland (22nd & 24th U.S. President) on front. "One Thousand Dollars" on back. Has not beenprinted since 1969.* $5000.00 James Madison (4th U.S. President) on front. $5000 on back. Has not been printed since 1946.Salmon P. Chase (25th U.S. Treasury Secretary) on front. $10,000 on back. Has not been printed since* $10,000.001946.* $100,000.00 Woodrow Wilson (28th U.S. President) on front. The largest note ever printed by the U.S. Bureau ofEngraving and Printing (BEP). Printed from December 18, 1934 through January 9, 1935. Used fortransactions between Federal Reserve Banks. Not circulated among the general public.* No longer printed and being withdrawn from circulation.Today, like the currency of most nations, the Federal Reserve Note dollar is fiat money without intrinsic value. Someargue that it has no backing and would be entirely worthless, except for the fact that people have been persuaded to useand accept it as if it had worth. According to the Bureau of Engraving and Printing (BEP), as of July 31, 2000, there were$539,890,223,079 in total currency in Worldwide circulation, of which $364,724,397,100 was in the $100 denomination(compare this to the United States Government Notes of which $346,681,000 are in circulation only). This is in addition tothe money sitting in bank account. Federal Reserve notes are legal tender currency notes. They are issued by theFederal Reserve Banks and have replaced United_States_Notes which were once issued by the Treasury Department. Theauthority of the Federal Reserve Banks to issue notes comes from the fraudulent Federal Reserve Act of 1913. Acommercial bank belonging to the Federal Reserve System can obtain Federal Reserve notes from the Federal ReserveBank in its district whenever it wishes. It must pay for them in full, dollar for dollar, by drawing down its account with itsdistrict Federal Reserve Bank. Despite no longer being issued by Treasury Department, Federal Reserve notes must beritually signed by the Treasurer of the United States and the United States Secretary of the Treasury before becominglegal currency. Federal Reserve Banks obtain the notes from the United States Bureau of Engraving and Printing (BEP). Itpays the BEP for the cost of producing the notes, which then become liabilities of the Federal Reserve Banks, andobligations of the United States Government. Federal Reserve notes are not redeemable in gold, silver or any othercommodity. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. Theyhave no backing other than the "full faith of the US government", i.e., the government's ability to levy taxes to pay itsdebts and US property and assets. In another sense, because they are legal tender, Federal Reserve notes are "backed"by all the goods and services in the economy, however this value keeps decreasing as inflation keeps creeping.The name for the United States dollar comes from the Spanish dollar which itself is derived from the German thaler whichwas the silver coin widely circulated in the United States during the time of the American Revolutionary War. Althoughprivate banks issued currency that was backed in Spanish dollars, the Federal government did not do so until theAmerican Civil War. The Thaler was a silver coin first minted in Bohemia, in 1518. The name thaler originally came fromthe guldengroschen (great gulden, being of silver but equal in value to a gold gulden) coins minted from the silver from arich mine at Joachimsthal (St. Joachim's Valley, Czech: Jáchymov) in what is now the Czech Republic and called theJoachimsthaler, where thal means "valley". St. Joachim, the father of the Virgin Mary, was portrayed on the coin. TheThaler was a very popular coin and became used thoughout Europe with equivalent coins such as the peso and the crownbeing issued and in general use. In England the word dollar was in use for the thaler for 200 years before the issue of theAmerican Dollar, and until the half crown ceased to be used following decimalisation in 1971, the term "half a dollar" couldThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 385