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Did you know that the average dollar bill is so hard-working, it has a lifespan of only about 18 months? In today’s history page, we bring you the long, winding story of American money. What our early $1 bills lacked in utility, they made up for in color and dramatic graphics. The Bank of Germantown in Philadelphia, for example, released an orange-and-black $1 bill that depicted a group of sailors in a small boat trying to fight off the advances of a polar bear. Other mid-19th-century local bank notes bore portraits of mythological figures, children or even Santa Claus. There was still no national currency when the Civil War broke out in 1861, so Congress approved the issue of $150 million in national “demand notes.” These came in denominations of $5, $10 and $20, and the U.S. government used them to pay for war expenses and the salaries of military personnel. Union bills had distinctive green ink on their reverse side (which contrasted sharply with Confederate currency’s blank reverse side) — and they became popularly known as “greenbacks.”

Did you know that the average dollar bill is so hard-working, it has a lifespan of only about 18 months? In today’s history page, we bring you the long, winding story of American money.

What our early $1 bills lacked in utility, they made up for in color and dramatic graphics. The Bank of Germantown in Philadelphia, for example, released an orange-and-black $1 bill that depicted a group of sailors in a small boat trying to fight off the advances of a polar bear. Other mid-19th-century local bank notes bore portraits of mythological figures, children or even Santa Claus. There was still no national currency when the Civil War broke out in 1861, so Congress approved the issue of $150 million in national “demand notes.” These came in denominations of $5, $10 and $20, and the U.S. government used them to pay for war expenses and the salaries of military personnel. Union bills had distinctive green ink on their reverse side (which contrasted sharply with Confederate currency’s blank reverse side) — and they became popularly known as “greenbacks.”

76 Notes

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    Did you know that the average dollar bill is so hard-working, it has a lifespan of only about 18 months? In today’s...
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