Later History
Robert Morris was the first to use that symbol in official documents and in official communications with Oliver Pollock. The US Dollar was directly based on the Spanish Milled Dollar when, in the Coinage Act of 1792, the first Mint Act, its value was "fixed" (per the U.S. Constitution, Article I, Section 8, clause 1 power of the United States Congress "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures") as being "of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver."
According to a plaque in St Andrews, Scotland, the dollar sign was first cast into type at a foundry in Philadelphia, United States in 1797 by the Scottish immigrant John Baine.
The dollar sign did not appear on U.S. coinage until February 2007, when it was used on the reverse of a $1 coin authorized by the Presidential $1 Coin Act of 2005.
The dollar sign appears as early as 1847 on the $100 Mexican War notes and the reverse of the 1869 $1000 United States note. The dollar sign also appears on the reverse of the 1934 $100,000 note as well as the reverse of the 1917 $1 note.
Read more about this topic: Dollar Sign
Famous quotes containing the word history:
“If you look at the 150 years of modern China’s history since the Opium Wars, then you can’t avoid the conclusion that the last 15 years are the best 15 years in China’s modern history.”
—J. Stapleton Roy (b. 1935)
“The history of work has been, in part, the history of the worker’s body. Production depended on what the body could accomplish with strength and skill. Techniques that improve output have been driven by a general desire to decrease the pain of labor as well as by employers’ intentions to escape dependency upon that knowledge which only the sentient laboring body could provide.”
—Shoshana Zuboff (b. 1951)