Ad
related to: g10 greenback
Search results
Results From The WOW.Com Content Network
The greenback's low point came in July that year, with 258 greenbacks equal to 100 gold. When the war ended in April 1865 the greenback made another recovery to 150. [14] The recovery began when Congress limited the total issue of greenback dollars to $450 million. The greenbacks rose in value until December 1878, when they became on par with gold.
The origin of the term G10 currencies is not clear, however it may be derived from the G10 countries and their agreement to participate in the IMF General Arrangements to Borrow (GAB). There is no longer a one-to-one match between the G10 currencies and the G10 countries. The G10 currencies are: [1] [2] [3] Australian dollar (AUD) Canadian ...
The GAB was established in 1962, when the governments of eight International Monetary Fund (IMF) members—Belgium, Canada, France, Italy, Japan, the Netherlands, the United Kingdom, and the United States—and the central banks of two others, Germany and Sweden, agreed to make resources available to the IMF with an additional $6 billion of their resources. [1]
A $5 United States Note of the series of 1862 popularly known as a "greenback" from the color of ink used on the reverse. The American Civil War of 1861 to 1865 greatly affected the financial system of the United States of America, creating vast new war-related expenditures while disrupting the flow of tax revenue from the Southern United States, organized as the Confederate States of America.
G-10 or garolite is a high-pressure fiberglass laminate, a type of composite material. [1] It is created by stacking multiple layers of glass cloth, soaked in epoxy resin, then compressing the resulting material under heat until the epoxy cures.
Top row: The distinctive green ink used on the backs of Demand Notes gave rise to the term "greenbacks" Bottom row: Prominent design elements used on the front of $5 and $20 Demand Notes (located respectively under their denomination); pictured in the middle is the front of a $10 Demand Note with prominent design elements listed
During the early 1870s, Treasury Secretaries George S. Boutwell and William Adams Richardson maintained that, though Congress had mandated $356,000,000 as the minimum Greenback circulation, the old Civil War statutes still authorized a maximum of $400,000,000 [nb 1] —and thus they had at their discretion a "reserve" of $44,000,000.
Greenback (1860s money), a fiat currency issued during the American Civil War United States Note , paper money issued from 1862 to 1971 Greenback, a nickname used for the United States dollar in the financial press in other countries