America

Guess Who Is On the Three Dollar Bill?

Whose face appears on the one-dollar bill? Correct. Washington.
The five-dollar bill? Right again. Lincoln.

How about the ten? Hamilton.

And the twenty? Jackson.

Now it gets tougher. Who is depicted on the fifty-dollar bill? Ulysses Grant.

And on the one-hundred-dollar bill? Ben Franklin.

There are higher denominations of U.S. paper currency, although federal regulations demand that should a bank come into possession of such currency, the bill or bills must be returned to the regional Federal Reserve bank. While such paper money is technically “out of circulation,” it is still legal tender.

On the five-hundred-dollar bill there is a picture of President William McKinley.

On the one-thousand-dollar bill, President Grover Cleveland.

On the five-thousand-dollar bill, President James Madison.

On the ten-thousand-dollar bill, nineteenth-century U.S. Supreme Court Chief Justice Salmon Chase.

And finally, the one-hundred-thousand-dollar bill. The highest-ever denomination of United States currency is depicted with President Woodrow Wilson.

But wait. I’m saving the best for last…there is one more bill we have overlooked: the three-dollar bill. But I bet you can’t guess who is depicted on that particular bill.

Once upon a time, banks all over the country issued their own currency. Even after the National Bank Act of 1863 imposed a 10 percent tax on such notes, many banks continued to make their own money. By 1935, the national banks had transferred this power to the Federal Reserve.

Back then banks issued every denomination of paper money now in circulation, plus one: the three-dollar bill. Although specific designs varied from bank to bank, there was one design used more than any other.

The picture is of someone you have known all of your life. He appeared on the three-dollar bills issued by the Howard Banking Company of Boston an the Central Bank of Troy and the Pittsfield Bank and the White Mountain Bank – and by one Manhattan bank bearing the name of the man on the three-dollar bill: the Saint Nicholas Bank of New York City.

The person whose image was once absolutely lawfully engraved on the dead-serious 100 percent legitimate three-dollar bill – was Santa Claus.

Categories: America, History, Money

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