Chapter Seven Padlet by Maureen Ariel https://padlet.com/mariel2/8pp1vbh2mmg Foreign Exchange and International Finance en-us 2017-05-10 15:26:26 UTC 2017-05-15 18:40:42 UTC hello@padlet.com Mrs. Ariel mariel2 https://padlet.com/mariel2/8pp1vbh2mmg/wish/171041072 The history of money.  Please go to the following website
https://dailyreckoning.com/a-timeline-of-united-states-currency/
and find 10 interesting facts about the currency of the USA.


]]> 2017-05-10 15:32:57 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171041072 Andrew Pascarella https://padlet.com/mariel2/8pp1vbh2mmg/wish/171080527 1. Early Americans in the Masschusetts bay colony were the first to issue paper money in 1690
2. In 1764 the British had been placing restrictions on colonial paper money
3. First paper money in the U.S. were called continentals
4. First U.S. paper money was first issued for military expidition's
5. Benjamin Franklin had printing firm in Philadelphia
6. Federal debt started to stack up with the start of the war of 1812
7. National Banking Act passed in 1863
8.38 million American notes printed daily
9. George Washington first appeared on the $1 bill in 1869
10. 94% of all bills contain bacteria and 7% contain deadly pathogens that are passed on to others through contact with the infected bill]]> 2017-05-10 17:47:23 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171080527 Trey Jenkins https://padlet.com/mariel2/8pp1vbh2mmg/wish/171081460 1. A penny costs 2.4 cents to manufacture.
2. More than 2 million Americans live on less than $2 a day.
3. The Bureau of Engraving and Printing uses 9.7 tons of ink each day.
4. 5% of the people who buy lottery tickets account for 51% of all tickets sold.
5. Gambling generates more revenue each year than movies, spectator sports, theme parks, cruise ships and recorded music COMBINED.
6. 94% of bills are contaminated with bacteria.
7. It takes around 8000 folds before a bill will tear from use.
8. There is more Monopoly money printed every year than actual cash.
9. 90% of all US bills have at least a trace of cocaine on them.
10. Only 8% of the world’s currency is actual physical money.]]> 2017-05-10 17:50:54 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171081460 Evan Alfano https://padlet.com/mariel2/8pp1vbh2mmg/wish/171082247 1. In 1690, early Americans in the Massachusetts Bay Colony were the first to issue paper money to meet high demands for trade and as a response to the shortage of coins, which were the primary form of money at the time.
2. Alexander Hamilton urged Congress to establish the First Bank of the United States in 1791.
3. Federal debt started stacking up again with the War of 1812.
4.  This is man
5. During the Civil War, the National Banking Act of 1863 was passed.
6. December 23, 1913, President Woodrow Wilson signs the Federal Reserve Act into law. 
7.  The bigger impact in the U.S. came from the Reserve Banks’ ability to discount bankers acceptances.
8. Nearly 10,000 banks failed from 1930 to 1933.
9. The Banking Act of 1935 required even more changes to the Fed’s structure.
10. The Monetary Control Act of 1980 marked the beginning of modern banking industry reforms.]]> 2017-05-10 17:53:59 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171082247 Jake Mielcarz https://padlet.com/mariel2/8pp1vbh2mmg/wish/171083548 1. The first paper money was issued to pay for military expeditions
2. Benjamin Franklin had a printing firm in Philadelphia that printed paper currency with nature prints.
3.  The first bank started out with a capital of $10 million, but most Americans were strongly against the idea of a large and powerful bank. 
4.  Abraham Lincoln signed what was originally known as the National Currency Act, which for the first time in American history established the federal dollar as the sole currency of the United States in 1863. 
5. Everyone agreed that the current system desperately needed some kind of reform in 1907.
6. December 23, 1913, President Woodrow Wilson signs the Federal Reserve Act into law. 
7. November 16, 1914, 12 cities had been chosen as sites for regional Reserve Banks, and they were open for business.
8. Nearly 10,000 banks failed from 1930 to 1933
9. After the Great Depression, Congress passed the Banking Act of 1933
10. The Banking Act of 1935 required even more changes to the Fed’s structure.]]> 2017-05-10 17:58:09 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171083548 Matt Harkins https://padlet.com/mariel2/8pp1vbh2mmg/wish/171086069 1. In 1690, early Americans in the Massachusetts Bay Colony were the first to issue paper money
2. The first paper money was issued to pay for military expeditions
3. Alexander Hamilton was the guy who urged Congress to establish the First Bank of the United States in 1791 
4. During the Civil War, the National Banking Act of 1863 was passed.
5. In 1893, a bank panic triggered the worst depression the United States had ever seen. 
6. 1907 was a very bad year for the stock market could be the understatement of the century. 
7. December 23, 1913, President Woodrow Wilson signs the Federal Reserve Act into law.
8. November 16, 1914, 12 cities had been chosen as sites for regional Reserve Banks, and they were open for business. 
9. After the U.S. entered WWII in 1942, the Federal Reserve System committed to keeping a low interest rate peg on government bonds.
10. The Monetary Control Act of 1980 marked the beginning of modern banking industry reforms.
]]> 2017-05-10 18:06:57 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171086069 Collin James Cook https://padlet.com/mariel2/8pp1vbh2mmg/wish/171092938 1.  Benjamin Franklin had a printing firm in Philadelphia that printed paper currency with nature prints.
2. For years Britain had been placing restrictions on colonial paper money, and in 1764 they finally ordered a complete ban on the issuance of paper money by the Colonies.
3. Federal debt started stacking up again with the War of 1812, and the political climate once again found itself entertaining the concept of a central bank. By only a small margin, Congress agreed to charter the Second Bank of the U.S.
4. The Reserve Bank Operating Committee was composed of Secretary of Agriculture David Houston, Treasury Secretary William McAdoo, and Comptroller of the Currency John Skelton Williams. It was these three men who had the daunting and unenviable task of building a functioning institution around the brass tacks of the new law before the new central bank could begin operating.
5. Benjamin Strong (head of the New York Fed from 1914-1928) acknowledged that, following WWI, gold was no longer the central factor in controlling credit. 
6. It was during the 1920s that the Fed started using open market operations as a tool for monetary policy. During his time there, Strong elevated the Fed’s standing by promoting relationships with other central banks, particularly the Bank of England.
7. This Act also established the Federal Deposit Insurance Corporation (FDIC), which gave the Fed control over open market operations and required them to examine bank holding companies.
8.The Fed used monetary policy during this time on several occasions – including the Russian default on government securities and the credit crunch of the early 90s – in order to keep financial problems from negatively affecting the real economy.
9. In the following days and weeks, the Fed lowered interest rates and, in order to provide some semblance of stability to the U.S. economy, loaned more than $45 billion to financial institutions.
10.The highest-denomination note ever printed was worth $100,000.]]> 2017-05-10 18:32:27 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171092938 Saara Bliss https://padlet.com/mariel2/8pp1vbh2mmg/wish/171556314 1. The first paper money was used to pay for military expeditions. 
2. The first money printed in America was called "continentals" which was used to finance the American Revolution.
3. Alexander Hamilton is responsible for urging Congress to establish the first bank of the United States. 
4. In 1764, Great Britain put a ban on the issuance of all paper money in the colonies.
5. Woodrow Wilson signed the Federal Reserve Act, which acted as a compromise between the American people and private banks. 
6. The FOMC (Federal Open Market Committee) was created in 1935.
7.  In 1980, the Monetary Control Act changed and modernized the banking industry.
8. After the US entered WWII, the Federal Reserve System was committed to keeping a low interest rate on pegs and government bonds. 
9. After the Great Depression, the congress passed the Banking Act of 1933, which is responsible for separating commercial and investment banking. 
10. During the Great Depression, almost 10,000 banks failed.]]> 2017-05-12 18:10:51 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171556314 Olivia Joan Krause https://padlet.com/mariel2/8pp1vbh2mmg/wish/171917279 1. United States currency has been an evolutionary process that walks hand-in hand with the growth of our nation.
2. In 1690, early Americans in the Massachusetts Bay Colony were the first to issue paper money to meet high demands for trade and as a response to the shortage of coins.
3. Benjamin Franklin had a printing firm in Philadelphia that printed paper currency with nature prints.
4. These were completely unique, raised impressions of patterns cast from actual leaves, which added a counterfeit to the money.
5. Benji’s innovative method was not completely understood until centuries later.
6. For years Britain had been placing restrictions on colonial paper money, and in 1764 they finally ordered a complete ban on the issuance of paper money by the Colonies.
7. The Continental Congress had to do something to finance the American Revolution, so they printed our brand spankin’ new country’s first ever paper money, known as “continentals.”
8. It started out with a capital of $10 million, but most Americans were strongly against the idea of a large and powerful bank.
9. Federal debt started stacking up again with the War of 1812, and the political climate once again found itself entertaining the concept of a central bank.
10. In 1828 Andrew Jackson was elected president. Jackson was a notorious foe of the central bank and vowed to destroy it. His point of view struck a chord with most Americans, and when the Second Bank’s charter expired in 1836, it was, to the shock of no one, not renewed.]]> 2017-05-15 18:13:52 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171917279 Jaxon Joseph Bator https://padlet.com/mariel2/8pp1vbh2mmg/wish/171921355 1. In 1690, early Americans in the Mass Bay colony were the first to issue paper money. 
2. More than 2 million Americans live on less than 2$ a day 
3.  fedeal debt started staking up again with the War of 1812
4.   5%  of the people who buy lottery tickets account for 51% of all tickets sold. 
5. Benjamin has a prinitng firm in Philly
6. Most bills have been contaminated by bacteria 
7. 8000 folds before a bill will tear from use
8. 10,000 bank failed fronm 1930 to 1933
9. after the great depression congress passed the banking act of 1933
10. durin great depression 10,000 banks failed 

]]> 2017-05-15 18:28:32 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171921355 Sam Windsor https://padlet.com/mariel2/8pp1vbh2mmg/wish/171923594 1. In 1690, early Americans in the Massachusetts Bay Colony were the first to issue paper money to meet high demands for trade and as a response to the shortage of coins, which were the primary form of money at the time.
2.For years Britain had been placing restrictions on colonial paper money, and in 1764 they finally ordered a complete ban on the issuance of paper money by the Colonies.
3.It started out with a capital of $10 million, but most Americans were strongly against the idea of a large and powerful bank.
4.In 1828 Andrew Jackson was elected president. Jackson was a notorious foe of the central bank and vowed to destroy it. His point of view struck a chord with most Americans, and when the Second Bank’s charter expired in 1836, it was, to the shock of no one, not renewed.
5.This caused a big jump in the volume of check transactions. In response, the New York Clearing House Association was established in 1853
6.While there was a little bit of currency stability for our rapidly growing country, thanks to the National Banking Act of 1863, 
7.An immediate response to the panic of 1907 was the Aldrich-Vreeland Act of 1908
8.However, come November 16, 1914, 12 cities had been chosen as sites for regional Reserve Banks
9.It was during the 1920s that the Fed started using open market operations as a tool for monetary policy. 
10.The Banking Act of 1935 required even more changes to the Fed’s structure.]]> 2017-05-15 18:35:40 UTC https://padlet.com/mariel2/8pp1vbh2mmg/wish/171923594