American dollar is the principal means of trading and business in the world today, and it is the most-popular currency.
8th August is the National Dollar Day and a holiday in the USA. People wait for this day eagerly and impatiently. Because on the 8th August 1786, the Continental Congress established the American Monetary System. As a memory, this day was declared as a holiday called the National Dollar Day.
After 76 years the first American Bill ( Note) was printed. In the beginning, the photograph of Secretary of Finance Solomon P Chase’s picture was imprinted and not that of George Washington.
Dollar Bill is made up of Cotton and Linen
The size of the dollar printed up to 1929 was larger than that of today. It measured 7.5 x 3 inches. After 1929, the size was reduced as of today. Usually it is believed dollar bill as a paper money, but that is not so. The bill is made up of 75% as cotton and the rest 25% as linen. It is folded 8000 times prior to its making. Money or any other note can make you sick as it may carry dangerous bacteria.
Once imprinted the photo of a woman.
Only once the photo of a woman Martha wife of George Washington was published. That was at the end of 19th Century when it got printed on bills of one and two dollars. George Washington photo was published later on after that.
100 dollar bill is most popular
Despite many problems, the American Government has announced for the issuance of new 100 dollar bills. At present nine billion 100 dollars, bills are in circulation in the world. Two third are in circulation in other countries than USA. 100 dollar bills are seven % of all the notes in circulation. These bills distribution gets controlled by Cash reserve Office in New York.
Benjamin Franklin’s photo gets published, as one of the founding father of the nation, on 100 bills. Alexander Hamilton’s on $ 10 bill.
One dollar bills are 45% Of all the printed bills. Old spoiled Dollar Bills are taken by the banks. The bills that get damaged or cut or torn or has printing mistakes – are taken back by the banks.
The highest denomination bill was 100000:
The highest denomination bill was 100000, having an image of President Woodrow Wilson. It was not for the public use but used once for 25 days within the Reserve Bank’s circulation.