May 26, 1927 (Thursday)
- U.S. Secretary of the Treasury Andrew W. Mellon announced that he had approved a change in the size of United States currency to save printing costs. The bills would be 1⅓ inches shorter and ¾ inches narrower, with the first new bills to appear in spring of 1928. In addition, consistent images were selected for the one dollar bill (George Washington) and the two dollar bill (Thomas Jefferson). Mellon commented that, "in time, each denomination will be immediately recognized from the picture it bears".
Read more about this topic: May 1927