George T. Morgan
George Thomas Morgan was a United States Mint engraver, famous for designing many popular coins, such as the Morgan dollar and the Columbian Exposition half dollar.. Morgan was born in England where he worked for many years as a die engraver, he came to the United States in 1876 and was hired as an assistant engraver at the Mint in October under William Barber. He figured prominently in the production of pattern coins from 1877 onward, he designed several varieties of 1877 half dollars, the 1879 "Schoolgirl" dollar, the 1882 "Shield Earring" coins. He became the seventh Chief Engraver of the United States Mint following the death of Charles E. Barber in February 1917. Morgan is most famous for designing the Morgan dollar, one of many namesakes, as well as the never-released $100 Gold Union coin. Gibbs, William T.. "Morgan's half dollars". Coin World: 4–5, 14, 20, 22, 24, 28, 32, 36, 40. Lee, Karen M.. The Private Sketchbook of George T. Morgan. Atlanta, Ga.: Whitman Publishing. ISBN 978-079483822-5
Banknotes of the United States dollar
Multiple types of banknotes of the United States dollar have been issued, including Federal Reserve Notes, Silver Certificates, Gold certificates and United States Notes. Before the American Revolution, every one of the Thirteen Colonies had issued its own paper money, most denominated in British pounds and pence. In 1776, the newly created United States issued currency, bought by people who wanted to support the war. At first, the banknotes circulated at par with the stated value, however after a few months they started depreciating until they became worthless. In an agreement, the United States agreed to redeem the notes for treasury bonds at 1% of the face value; the issued denominations ranged from $1/6 to $80. Treasury Notes were issued from 1812 to 1913, were interest-bearing notes issued by the United States in times of war or financial unrest. Various notes of various denominations were issued during the War of 1812, the Panic of 1837, the Mexican–American War, the Panic of 1857, the Civil War and the Panic of 1907.
From the Civil War through the Panic of 1907 they were known as "Certificates of Indebtedness". Demand Notes are considered the first paper money issued by the United States whose main purpose was to circulate, they were made because of a coin shortage as people hoarded their coins during the American Civil War and were issued in denominations of $5, $10 and $20. They were redeemable in coin, they were replaced by United States Notes in 1862. After the war ended paper money continued to circulate until present day. United States Notes known as Legal Tender Notes, succeeded Demand Notes as the main currency form of the United States, they were not redeemable but were receivable for all taxes and debts, what persuaded people to circulate them. They had a red seal and were issued in denominations of $1, $2, $5, $10, $20, $50, $100, $500 and $1,000. $5,000 and $10,000 notes have not been issued anytime after. United States Notes switched to small size in 1928 and were introduced in denominations of only $1, $2 and $5.
In 1934, when Federal Reserve Notes stopped being redeemable in gold, the only difference between them and Legal Tender Notes was that the first were liabilities of the Federal Reserve while the latter were direct liabilities of the United States Treasury Department. The $2 and $5 were issued through 1966, the $2 note was only available as a United States Note. In 1966 the $5 United States Note was discontinued and the $2 denomination was discontinued altogether. In 1966 a $100 US note was issued to meet legal requirements about the amount of notes in circulation. In 1971 the production of US notes was halted and they were discontinued in 1994. During the American Civil War silver and gold coins were hoarded by the public because of uncertainty about the outcome of the war. People began encasing them in metal for better protection; the U. S. government decided to substitute paper currency of denominations under a dollar for coins in order to solve the problem. The denominations issued were 3¢, 5¢, 10¢, 15¢, 25¢ and 50¢.
There were five issues of fractional currency. Interest bearing notes bore a 5 % or 7.3 % interest per annum. The 5% notes matured at one year while the 7.3% interest notes matured at three years. Their denominations were $10, $20, $50, $100, $500 and $1,000. In 1863 and 1864, compound interest treasury notes were issued, they paid out 6% annual interest compounded semi-annually 3 years after their issue. Their denominations were $10, $20, $50, $100, $500 and $1,000. Gold certificates were redeemable in gold coin. Following the 1933 ban on gold ownership in the United States, they were recalled to be redeemed for United States Notes, they were issued in large size in small size thereafter. They were issued in denominations of $20, $100, $500, $1,000, $5,000 and $10,000. A $50 note was added in 1882, followed by a $10 note in 1907. A $100,000 note, used only for inter-bank transactions was issued in 1934 but never made available to the general public, it is still illegal to own. National Bank Notes, unlike the other banknotes of the United States, were not directly issued by banks controlled by the United States government but were issued by banks chartered to do so by the government.
The banks' charter expired after 20 years and they had to renew it if they wanted to continue to issue National Bank Notes. They were all uniform in look except for the name of the bank and were issued as three series, known as the three charter periods; the first one were notes issued from 1869-1882, the second one from 1882-1902, the third one from 1902-1922. In 1929 the notes were resurrected as an emergency issue due to the Great Depression in small size, they were discontinued in 1933. The denominations issued were $1, $2, $5, $10, $20, $50, $100, $500 and $1,000; the $1, $2, $500 and $1,000 notes were only issued in large size during the First Charter Period. The $1 and $2 notes are common from most banks; the $500 note is rare. National Gold Bank Notes were issued by private banks from California; the concept is similar to that of the National Bank Notes, the difference being that National Gold Bank Notes were redeemable in gold. They were issued from 1870-1875 in denominations of $5, $10, $20, $50, $100 and $500.
They are all rare with the $5 being by far the most common, with 427 examples known, the
United States Secretary of the Treasury
The Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with financial and monetary matters, until 2003 included several federal law enforcement agencies. This position in the federal government of the United States is analogous to the Minister of Finance in many other countries; the Secretary of the Treasury is a member of the President's Cabinet, is nominated by the President of the United States. Nominees for Secretary of the Treasury undergo a confirmation hearing before the United States Senate Committee on Finance before being voted on by the United States Senate; the Secretary of the Treasury, the Secretary of State, the Attorney General, the Secretary of Defense are regarded as the four most important cabinet officials because of the importance of their departments. The Secretary of the Treasury is a non-statutory member of the U. S. National Security Council and fifth in the United States presidential line of succession; the Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government.
The Secretary is responsible for formulating and recommending domestic and international financial and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, managing the public debt. The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; the Chief Financial Officer of the government, the Secretary serves as Chairman Pro Tempore of the President's Economic Policy Council, Chairman of the Boards and Managing Trustee of the Social Security and Medicare Trust Funds, as U. S. Governor of the International Monetary Fund, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development; the Secretary along with the Treasurer of the United States must sign Federal Reserve notes before they can become legal tender. The Secretary manages the United States Emergency Economic Stabilization fund.
Most of the Department's law enforcement agencies such as the U. S. Customs Service, the Bureau of Alcohol, Tobacco and Explosives, the U. S. Secret Service were reassigned to other departments in 2003 in conjunction with the creation of the Department of Homeland Security; the salary of the Secretary of the Treasury is $205,700 annually. Parties No party Federalist Democratic-Republican Democratic Whig Republican Status 1 William Jones served as acting secretary between the resignation of Alexander J. Dallas and appointment of William H. Crawford. 2 Deputy Secretary of the Treasury M. Peter McPherson served as Acting Secretary of the Treasury from August 17, 1988, to September 15, 1988. 3 Because of the resignation of Deputy Secretary of the Treasury Roger Altman in August 1994, Under Secretary of Treasury for Domestic Finance Frank N. Newman served from December 22, 1994, to January 11, 1995 as Acting Secretary of the Treasury. 4 Deputy Secretary of the Treasury Kenneth W. Dam served as Acting Secretary of the Treasury from December 31, 2002, to February 3, 2003.
5 Deputy Secretary of the Treasury Robert M. Kimmitt served as Acting Secretary of the Treasury from June 30, 2006, to July 9, 2006. 6 Under Secretary for Terrorism and Financial Intelligence Stuart A. Levey served as Acting Secretary of the Treasury from January 20, 2009, until the confirmation of Timothy Geithner, which occurred January 26, 2009. 7 Deputy Secretary of the Treasury Neal Wolin served as Acting Secretary of the Treasury from January 25, 2013, until the confirmation of Jack Lew which occurred February 28, 2013. 8 Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin served as Acting Secretary of the Treasury from January 20, 2017, until the confirmation of Steven Mnuchin which occurred February 13, 2017. If both the Secretary and the Deputy Secretary of the Treasury are unable to carry out the duties of the office of Secretary of the Treasury whichever Treasury official of Under Secretary rank sworn in earliest assumes the role of Acting Secretary. Positions listed on the Department of the Treasury website include the Under Secretary for Domestic Finance, the Under Secretary for International Affairs, the Under Secretary for Terrorism and Financial Intelligence.
As of April 2019, there are eleven living former Secretaries of the Treasury, the oldest being George P. Shultz; the most recent Secretary of the Treasury to die, as well as the most serving Secretary to die, was Lloyd M. Bentsen, Jr. on May 23, 2006. "Secretaries of the Treasury". History of the Treasury. United States Department of the Treasury. Retrieved April 9, 2006. Official website
The Capped Bust coinage of the United States consisted of a half dime, dime and half dollar. John Reich designed this capped-head concept of Liberty, it was modified by Chief Engraver of the Mint, William Kneass, it proved to be a popular design and lasted from 1807 to 1839 on the half dollar, 1815 to 1838 on the quarter, 1809 to 1837 on the dime, 1829 to 1837 on the half dime. There was a gold design created by engraver Robert Scot created in 1795 called the Capped Bust, although it is more popularly known as the "Turban Head" because of its unusual, exotic appearance; the Turban design was used on the gold Quarter Eagle, Half Eagle, Eagle from 1795 to 1834. On the Quarter and Half Eagles, the Turban design was replaced with the regular Capped Bust design in 1807, however the Eagle stayed with the original design until it was replaced with the "Coronet" Liberty Head design in 1838, having stopped production of the Eagle in 1804
The Buffalo nickel or Indian Head nickel is a copper-nickel five-cent piece, struck by the United States Mint from 1913 to 1938. It was designed by sculptor James Earle Fraser; as part of a drive to beautify the coinage, five denominations of US coins had received new designs between 1907 and 1909. In 1911, Taft administration officials decided to replace Charles E. Barber's Liberty Head design for the nickel, commissioned Fraser to do the work, they were impressed by Fraser's designs showing an American bison. The designs were approved in 1912, but were delayed several months because of objections from the Hobbs Manufacturing Company, which made mechanisms to detect slugs in nickel-operated machines; the company was not satisfied by changes made in the coin by Fraser, in February 1913, Treasury Secretary Franklin MacVeagh decided to issue the coins despite the objections. Despite attempts by the Mint to adjust the design, the coins proved to strike indistinctly, to be subject to wear—the dates were worn away in circulation.
In 1938, after the expiration of the minimum 25-year period during which the design could not be replaced without congressional authorization, it was replaced by the Jefferson nickel, designed by Felix Schlag. Fraser's design is admired today, has been used on commemorative coins and the gold American Buffalo series. In 1883, the Liberty Head nickel was issued. After the coin was released, it was modified to add the word "CENTS" to the reverse because the similarity in size with the half eagle allowed criminals to gild the new nickels and pass them as five dollar coins. An Act of Congress, passed into law on September 26, 1890 required that coinage designs not be changed until they had been in use 25 years, unless Congress authorized the change; the act made silver dollar exceptions to the twenty-five year rule. However, the Mint continued to strike the Liberty Head nickel in large numbers through the first decade of the 20th century. President Theodore Roosevelt in 1904 expressed his dissatisfaction with the artistic state of the American coinage, hoped to hire sculptor Augustus Saint-Gaudens to redesign all the coins.
Constrained by the 1890 act, the Mint only hired Saint-Gaudens to redesign the cent and the four gold pieces. Saint-Gaudens, before his 1907 death, designed the eagle and double eagle, which entered circulation that year. By that time, the Liberty Head nickel had been in circulation for more than 25 years, was eligible for redesign regardless of the special provision. In 1909, Mint Director Frank Leach instructed Barber to make pattern coins for new nickels. Most of these coins featured George Washington; the press found out about the pieces, speculated they would be released into circulation by the end of the year. The Mint received orders from banks in anticipation of the "Washington nickel". However, the project was discontinued when Leach left office on November 1, 1909, to be replaced by Abram Andrew. Andrew was dissatisfied with the just-issued Lincoln cent, considered seeking congressional authorization to replace the cent with a design by sculptor James Earle Fraser. While the change in the cent did not occur, according to numismatic historian Roger Burdette, "Fraser's enthusiasm led to adoption of the Buffalo nickel in December 1912".
On May 4, 1911, Eames MacVeagh, son of Treasury Secretary Franklin MacVeagh wrote to his father: A little matter that seems to have been overlooked by all of you is the opportunity to beautify the design of the nickel or five cent piece during your administration, it seems to me that it would be a permanent souvenir of a most attractive sort. As you are aware, it is the only coin the design of which you can change during your administration, as I believe there is a law to the effect that the designs must not be changed oftener than every twenty-five years. I should think it might be the coin of which the greatest numbers are in circulation. Soon after the MacVeagh letter, Andrew announced that the Mint would be soliciting new designs for the nickel. Fraser, an assistant to Saint-Gaudens, approached the Mint, produced concepts and designs; the new Mint director, George Roberts, who had replaced Andrew favored a design featuring assassinated President Abraham Lincoln, but Fraser soon developed a design featuring a Native American on one side and a bison on the other.
Andrew and Roberts recommended Fraser to MacVeagh, in July 1911, the Secretary approved hiring Fraser to design a new nickel. Official approval was slow in coming. MacVeagh wrote, "Tell him that of the three sketches which he submitted we would like to use the sketch of the head of the Indian and the sketch of the buffalo." Roberts transmitted the news followed up with a long list of instructions to the sculptor, in which he noted, "The motto,'In God We Trust', is not required upon this coin and I presume we are agreed that nothing should be upon it, not required." Fraser completed the models by June 1912, prepared coin-size electrotypes. He brought the models and electrotypes to Washington on July 10, where they met with the enthusiastic agreement of Secretary MacVeagh. In July 1912, word of the new design became publicly known, coin-operated machine manufacturers sought information. Replying to the inquiries, MacVeagh wrote that there would be no change in the diameter, thickness, or weight of the nickel.
This satisfied mos
The Classic Head was a design issued by the mint in the early 19th century. It was introduced for copper coinage in 1808 by engraver John Reich and redesigned and improved by Chief Engraver William Kneass. Half cents: 1809 to 1836 Large cents: 1808 until 1814 Quarter Eagle: 1834 to 1839 Half Eagle: 1834 to 1837 The short-lived Classic Head interpretation of Liberty was designed by John Reich for use on the Half cent and the Large cent, however the design used on the silver and gold coins was developed by William Kneass; the Classic Head depicted Liberty with curly hair. The reverse designed by John Reich depicted the coin's value inside a wreath. Kneass's design, scaled down the design so it would fit on smaller coins and added a heraldic eagle on the reverse, substituting the simple design by John Reich. A similar design on gold coinage only retained the curly hair; the head was redesigned by William Kneass, featured a traditional maiden with a ribbon binding her long, curly hair. This variety omitted "E pluribus unum" from the reverse of the coin.
In 1840, a smaller head was designed to conform with the appearance of the larger gold coins, therefore making the Classic Head design obsolete. The new Classic Head design was produced from 1834 to 1839; the Classic Head variety was preceded by the Draped Bust design and followed by the Matron Head liberty on copper coinage. Half cent Large cent Quarter Eagle Half Eagle Classic Head Quarter Eagle R. S. Yeoman, A Guide Book Of United States Coins 2009 Edition
Liberty is a loose term in English for the goddess or personification of the concept of liberty, is represented by the Roman Goddess Libertas, by Marianne, the national symbol of France, by many others. The Statue of Liberty by Frédéric Auguste Bartholdi is a well-known example in art, a gift from France to the United States; the ancient Roman goddess Libertas was honored during the second Punic War by a temple erected on the Aventine Hill in Rome by the father of Tiberius Gracchus. A statue in her honor was raised by Clodius on the site of Marcus Tullius Cicero's house after it had been razed; the figure bears certain resemblances to Sol Invictus, the late Roman Republic sun deity and the crown associated with that deity appears in modern depictions of Liberty. In 1793, during the French Revolution, the Notre Dame de Paris cathedral was turned into a "Temple of Reason" and, for a time, the Goddess of Liberty replaced the Virgin Mary on several altars. In the United States, "Liberty" is depicted with five-pointed stars, as appear on the American flag held in a raised hand.
Another hand may hold a sword pointing downward. Depictions familiar to Americans include the following: The Statue of Liberty, its replicas, its portrayal on many U. S. postage stamps. Many denominations of American coins have depicted Liberty in both bust side-view and full-figure designs; the flags of the States of New York and New Jersey On the dome of the U. S. Capitol as Freedom On the dome of the Georgia State Capitol as Miss Freedom On the dome of the Texas State Capitol On the dome of the Allen County Courthouse in Fort Wayne, Indiana On the dome of the Bergen County Courthouse in Hackensack, New Jersey On both Union and Confederate currencyIn the early decades of the 20th Century, Liberty displaced Columbia, used as the National personification of the US during the 19th Century. Texas Memorial Museum Texas Statue Bee county courthouse in Texas Another article on Beeville courthouse Mackinac Island