Chapter 2 - Lesson 1
Development of U.S. Banking

The Federal Reserve Bank of San Francisco has an online exhibit of American currency that shows how the appearance of money has changed in the United States over the years. The exhibit also provides historical context for the changes that have taken place in U.S. banking and currency. Visit the site to answer the following questions.

Suggested keywords: history of American currency, Federal Reserve Bank of San Francisco
Web site: http://www.frbsf.org/currency/

Your Name:

Today's Date:

Question 1:
What were Legal Tender notes? Why were they issued and when did they cease to be issued?

Question 2:
When was the ''Free Banking Era'' in the United States? According to the site, how many different bank notes were in circulation during this time? (Hint: From the home page, click the ''Westward Expansion'' link, then click ''Historical Context,'' then the ''Interesting and Amusing'' link.)

Question 3:
Browse the site and look at some of the different bank notes used in the United States over the years. Which do you think is the most interesting or unusual? Explain your answer.