On today’s date in 1785 the Continental Congress set the dollar as the official currency of the new United States. Also on this date it was Resolved “That the several pieces shall increase in a decimal ratio.”
As a side note Thomas Jefferson wrote on this very topic in “Notes on the establisment[!] of a money unit, and of a coinage for the United States.”
If you want to look at the activity of the Continental Congress look at the Journals of the Continental Congress, in a Century of Lawmaking.
Our guest author today is Ellen Terrell, Business Reference Specialist.