The Nome nugget., 1949-10-21
THE DOLLAR
(By Clarke Beach)

Those rectangular green pieces paper you your pocketbook just about popular any com modity in the world today. When proud old nations knucked under and devalued their currences to make them worth less in of the American dollar, the young American greenback came into its own
 Once upon time it 'wasn't worth Continental That was when the Continental Congress turned out 210,0O0 900 printing presses during the American Revolution In of gold and other nations money, the Continental dollars worth only fraction of their face value.
 The dollar got on it's feet when Congress- after the Constitution had been adopted established the present monetary system in 1792 Congress began colnlng dol lars at the Philadelphia mint in 1793.
 They were all metal cons-gold eagles (worth $1O) and fractions of eagles silver dollars and fractions of dollars and copper cents and half cents.
 The Federal Government didn't turn out any paper money until the Civil War, when "greenbacks" were first issued Banks operating under federal state char terS issued notes currency-and much of the paper eventually became badly depreciated in value.
 There great hullabaloo when the government made greenbacks legal tender requiring that they be cepted in payment of debts People inclined to be diStrustful of paper money and today folks don't like to handle it in some in western states
 But the dollar managed to hold it's in relation to gold and the mighty British pound Through most of history the pound has been worth about $4.86. A ter the first World War began to slip. In 1920 hte pound worth only $366 It back to its normal $486 by 1880 But in 1882 it dropped to it's lowest point up to that time to $3. 50 in U. S. money.
 Then it fluctuated wildly In 1884 it reached the high est value O1 Wn1cn the feQeral reserve OySCeH mas record $5O3 In 941 it sold for $403 and that it's official until the recent devaluaton sent it down to $2 80
 The for the rise of the dollar in relation to the pound is primarily Americas position creditor nation. For than century we bought more from the rest of the world than the world bought from But in about 1926 we became the worlds investment bank Now we have many things that the world wants to buy that dollars in unprecedented demand throwing other currencieS off balance.
 The word dollar in general use before gov ernmen adopted it. One another form of the word designated many kinds of European currency It from the Greek word thaer. In Dutch it the Daa der. In German it the taler Spanish pieces of eight were called dollars
 The dollar sign also was in use before the Revolution It is believed to have designated the Mexican peso It first written Ps. Later manuscripts show the P" superimposed on the "S' which seems to be how we go the dollar sign.
 Today there about 53 billion dollars in the world About 28 billion of them in circulation Most of the rest held in the US Treasury There they in the custody of Mrs Georgia Neese Clark treasurer of the United States whose signature also apears all paper money now being produced.
 Another woman, Mrs Nellie Taylor Ross for 16 years has been in charge of the manufacture of all U S. coins As director of the mn she has in that time turned out
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