by Cole H., Age 13
, Grade 8
Teacher: MRs. Reinhart
BY: Cole Hemsell
On July 4, 1776 America gained independence. The 13 colonies made new currency to part from Britain and to show independence.
When it came to currency there used to be no coins just paper money. There were no faces on bills because there were no important people the country was just beginning. Instead they put laws on money and rules new citizens will have to follow.
For people in war they would get a different type of money. This money would show that they were in the military it was practically a free things voucher. It makes sure they have enough to live they gave it to them as a form of a thank you gift.
Now, we use money for things like electronics, or a toy like something to play with. Back then they only used money to live, they used i for things like food and water, housing, and clothes. There was no spare money for them to get those and their wasn’t anyone who made those type of things. If any they would get some on Christmas or birthdays.
People were paid less back then. The average family income was $461 now it is $59,000. Thing were less expensive to even it out, pencils would be 10 cents. Things were cheaper which would make sense but we still make much more today.
Money is made in mints. Back in the day they printed money illegally until about the 1700’s. They all wanted more so that’s how they did it. When they got their independence they built more and in public areas not to be hidden in people's basements. Even though the 13 colonies had their own money some were still using shillings or other forms of currency. 20 shillings is equivalent to 1 pound so it would be more convent at times to use them. This is how colonial currency was made and used. This is how currency has changed and how it has come to be.