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ERIC Number: ED235068
Record Type: Non-Journal
Publication Date: 1980-Jun
Pages: 13
Abstractor: N/A
Reference Count: N/A
U.S. Currency. A Perspective of Its Role Today.
Board of Governors of the Federal Reserve System, Washington, DC.
Designed for the general public and possibly suitable also for high school economics students, this pamphlet presents a brief overview of United States currency. Separate sections discuss the role of currency today, how the dollar has evolved, how the dollar got its name, laws concerning legal tender, types of currency in circulation, the meaning of the inscriptions appearing on currency, how currency reaches the public, why the amount of currency changes, how the note issue mechanism works, how much currency is in circulation, why banks are decentralized, and who owns and operates the Federal Reserve Banks. Specific topics include the earliest monetary statute (The Mint Act), the first coin struck by the U.S. government, present laws concerning the issuing of currency, and specific denominations of Federal Reserve notes. A look at the inscription "In God We Trust," the Treasury Seal, and the Susan B. Anthony dollar is followed by an explanation of the procedure currency undergoes before it reaches the public. An explanation of the note issue mechanism, the total amount of cash in the Federal Reserve System, and the decentralization of Federal Reserve Banks is provided. In addition, the role of the Board of Governors of the Federal Reserve System, and stock ownership by commercial banks of the Federal Reserve System are discussed. (LH)
Publication Type: Guides - General
Education Level: N/A
Audience: Community
Language: English
Sponsor: N/A
Authoring Institution: Board of Governors of the Federal Reserve System, Washington, DC.
Identifiers - Location: United States