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96-719: In 1935, the Federal Emergency Relief Administration created an experimental farming community known as the Matanuska Valley Colony as part of the New Deal resettlement plan. Situated in the Matanuska Valley , about 45 miles northeast of Anchorage, Alaska , the colony was settled by 203 families from Minnesota , Wisconsin and Michigan . The colony project cost about $ 5,000,000 and, after five years, over half of

192-441: A 30-year payment schedule with an annual interest rate of 3%. The federal government built houses and barns and paid for the transportation of the families and some of their goods to Alaska. Equipment, livestock, farm machinery and other supplies were supplied by the corporation for purchase, lease, or payment for use. Supplies were available for purchase at cost until settlers were self-supporting. There were no permanent structures in

288-487: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler

384-757: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on

480-565: A dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of

576-480: A form of adult education, emphasized the study of economic and social problems from the workers' perspective. When the FERA created its adult education program in 1933, workers' education classes were included. Between 1933 and 1943, 36 experiment programs in workers' education were launched, 17 of them lasting over ten years. With as many as two thousand teachers employed at one time, officials conservatively estimated that

672-575: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized

768-490: A separate division for professional and nonconstruction projects. Project designers in the division for professional projects faced an enormous challenge in creating effective and meaningful work for unskilled women. In 1935 she became assistant administrator of the Works Progress Administration, where she directed the income-earning projects of some 500,000 women. Poor people lacked enough food in

864-678: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since

960-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set

1056-519: A wide variety of vegetables could also be grown and produced an extraordinary quality product. The Matanuska Valley Farmer's Cooperative Marketing Association handled much of the produce and marketed as well. The cooperative also purchased the supplies needed by the colony residents, such as feeds, seeds, fertilizer, farm machinery and general merchandise. In 1947, the Matanuska Valley had the largest number of dairy cows and of dairy herds in

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1152-461: Is an accepted version of this page The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as the dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced

1248-652: Is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023, the Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of

1344-460: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of

1440-666: Is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which

1536-764: The Civilian Conservation Corps (CCC), it was the first relief operation under the New Deal . FERA's main goal was to alleviate household unemployment by creating new unskilled jobs in local and state government. Jobs were more expensive than direct cash payments (called "the dole"), but were psychologically more beneficial to the unemployed, who wanted any sort of job for self-esteem. From May 1933 until it closed in December 1935, FERA gave states and localities $ 3.1 billion (the equivalent of $ 70.8 billion in 2023). FERA provided work for over 20 million people and developed facilities on public lands across

1632-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following

1728-551: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968

1824-545: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of

1920-526: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for

2016-528: The National Register of Historic Places . To be included on this list, a property must be deemed worthy of preservation. The following Matanuska Valley Colony farms and groups of buildings are included on the Register as Historic Districts: The following Matanuska Valley Colony buildings are included on the Register as Historic Buildings: Federal Emergency Relief Administration During

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2112-670: The U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in the section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of

2208-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on

2304-401: The unit of account of the United States. "Dollar" is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as

2400-662: The 21st century, largely through the Matanuska Maid Dairy (state-owned until 2006) and then the Matanuska Creamery, the largest of three dairies in the state. Problems with state funding and subsequent continued financial problems forced the closure of the creamery in 2012, leaving dairy farmers with no place to sell their milk. There are many buildings from the original construction of the Matanuska Valley Colony that have been placed on

2496-507: The Alaska Range curves in the northwest, Talkeetna Mountains rise to the north and Chugach Mountains to the east. The marks of glacial advances and retreats are benches and terraces, depressions, moraines. The three rivers rising in the alpine icefields carry large amounts of loess on the broad floodplain. Wind-borne glacial silt continues to change the landscape and build up the soils today. In 1916–1917 homesteading farmers settled along

2592-610: The Depression, and farmers had too much. The mismatch was solved by the Federal Surplus Relief Corporation (FSRC), FERA, and WPA programs which aimed to reduce farm surpluses by government purchase and then redistribution of food to the needy. Three methods of distribution were employed with varying success: direct distribution, Food Stamps , and school lunches . Mullins (1999) examines the hesitant relief efforts of Oklahoma City residents during

2688-649: The Hoover Administration, the federal government gave loans to the states to operate relief programs. One of these, the New York state program TERA (Temporary Emergency Relief Administration), was set up in 1931 and headed by Harry Hopkins , a close adviser to then-Governor Roosevelt. A few years later, as president, Roosevelt asked Congress to set up FERA—which gave grants to the states for the same purpose—in May 1933, and appointed Hopkins to head it. Along with

2784-491: The Matanuska Valley colonists, is home to many of the children of the settlers. Some of the original structures from the colony, including a church and barn, have been moved to the Alaska State Fairgrounds . Other remnants of the colony include the lush crops of the valley. Although the colony was not a booming success, it did become stable enough to provide dairy and farming. It did not significantly increase

2880-523: The Pacific Northwest could be obtained for less than locally produced products. In addition, as the population of Anchorage grew to make it the largest city in Alaska, residents began to look towards the Matanuska Valley to build homes. Farm land became more expensive and taxes increased. As a result, many farmers sold their land to developers. Dairy farming continued in the Matanuska Valley into

2976-838: The Pine Mountain Valley Rural Community in Georgia. In 1935, Americans in rural areas of northern states were among the worst sufferers of the Great Depression. In order to alleviate some of the pressures upon these areas, the FERA commissioned applicants from the northern states of Minnesota, Wisconsin, and Michigan to colonize a tract of land in the Territory of Alaska . The administration chose these three northern states because of their climate and belief that representatives would be well suited to survive harsh elements of subarctic winters. The hope

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3072-540: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to

3168-854: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in

3264-555: The U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked

3360-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as

3456-530: The United States dollar . Article I, Section 9 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as

3552-680: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,

3648-543: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be

3744-547: The auspices of the Socialist Party and the Communist Party. The unions agitated for welfare assistance, and their events and campaigns drew national publicity. While tenant farmers remained terribly disadvantaged politically, their collective efforts improved matters substantially in areas where their organizations were strongest. Julius Stone Jr., changed the economic direction of Key West, Florida , when he

3840-521: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains

3936-500: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,

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4032-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for

4128-446: The colonists were extremely unhappy with their conditions. By the end of their second month, 25 of the 200 colonists had returned home. On June 16 a group of colonists sent a telegram directly to President Roosevelt that read: "SIX WEEKS PASSED NOTHING DONE NO HOUSES WELLS ROADS INADEQUATE MACHINERY TOOLS GOVERNMENT FOOD UNDELIVERED COMMISSARY PRICES EXORBITANT EDUCATIONAL FACILITIES FOR SEASON DOUBTFUL…" The lack of adequate health care

4224-479: The colony was not even available until after colonization had begun. Nonetheless, the following January, FERA and Department of the Interior agreed to undertake the project. A few weeks later, 80,000 acres of land was set aside for the project and, by April, the first construction workers and colonists left for the valley. According to historian Orlando W. Miller, a total of 241,332 acres were initially set aside for

4320-565: The colony, with an additional 7,780 acres added later on to provide more continuity between the farms. After all, it was supposed to be a colony with startup assistance from the government. In effect, they wanted to keep the farms together in a single area as opposed to being spread out across the vast region reserved by President Roosevelt's Executive Order 6957 of 4 February 1935. The social workers in charge of selecting colonists were limited in their options. On one hand, they aimed to recruit hardy self-sufficient farmers that were true pioneers. On

4416-444: The colony. Many left, many struggled, and many apparently did very little. The chosen colonists often were fairly skilled and self-sufficient, but they lacked specialized farming skills and industriousness. Most were not up for the challenge. Merely 31% of the original colonists remained in 1948. However, some of these colonists did not abandon Alaska for good. Rather, they made a living fishing, mining, trading, or doing construction for

4512-804: The country. Faced with continued high unemployment and concerns for public welfare during the coming winter of 1933–34, FERA instituted the Civil Works Administration (CWA) as a $ 400 million short-term measure to get people to work. FERA was shut down in 1935 and its work taken over by two completely new federal agencies, the WPA and the Social Security Administration . FERA operated a wide variety of work-relief projects, including construction, projects for professionals (e.g., writers, artists, actors, and musicians), and production of consumer goods. Workers' education,

4608-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were

4704-632: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though

4800-668: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during

4896-490: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since

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4992-587: The distribution of money across states and counties was strongly influenced by state governments and the influential planter class. Their interests rested mainly in not allowing federal welfare to undermine their authority and the economic structure that favored landowners. Tenant farmers, however, exerted significant counterpressure by organizing the Southern Tenant Farmers Union and the Alabama Sharecroppers' Union under

5088-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from

5184-400: The dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar

5280-405: The early years of the Depression, 1930–35, under Governor William H. Murray , emphasizing the community's reluctance to comply with FERA rules. Fearing that aid recipients would become dependent on their assistance, Oklahoma City administrators sparingly doled out federal and local relief funds; city leaders initiated a campaign to discourage migration into the city; local newspapers failed to print

5376-453: The entire territory of Alaska – 33 dairies were all rated Grade A. Milk was sold bottled and pasteurized and delivered across the territory. Through the 1960s, farmers focused on milk and potato production. For a short period of time in the early 1960s, the military enforced a contract that required no more than 48-hours pass between pasteurization and delivery. This eliminated the truck-based shipment of milk from Seattle to Fairbanks, improving

5472-502: The first American states to adopt a social security law. The enduring impact of FERA and social security in Nebraska was to shift responsibility for social welfare from counties to the state, which henceforth accepted federal funding and guidelines. The change in state and national relations may have been the most important legacy of these New Deal programs in Nebraska. FERA made welfare payments to Southern tenant farmers 1933–35, with

5568-466: The first winter approached, the ARRC felt the pressure to get permanent housing built. They abandoned plans to use local timber and brought lumber and carpenters in from Anchorage. Though there were many sources of unhappiness for the colonists, they quickly bonded over their shared experience. Children played in the streets late into the night, dances were held every weekend in the community hall, and church

5664-661: The first year.) In 1956 the Weather Bureau meteorologist Robert H. Dale published a technical paper based on 34 years of records from the Matanuska Agricultural Experiment Station (No. 14), with some additional records of 11 years from 5 stations (including one at Wasilla and one at Eluktna – the Anchorage Power Plant, established May 1941). The findings: Currently, the town of Palmer, Alaska , which descended from

5760-565: The labor movement. For example, in Indiana this program was particularly popular among the new, more radical CIO unions. Federal workers' education activities also encouraged union-university cooperation and laid the foundation for labor education at Indiana University. New Dealers designed the WPA Workers' Service Program as the model for a Federal Labor Extension Service, similar to the existing federal agricultural extension program, but it

5856-402: The land. It left areas covered with coarse gravel and rock outcroppings. The terrain can be unlevel with features non-conducive to efficient farming. Some of the parcels had to be doubled in size because of the sparsity of arable land within them. Prices for land ranged from $ 5 per acre, for uncleared land, to an undetermined amount in some areas where it had been enhanced. Settlers agreed to

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5952-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre

6048-495: The location of soup lines; voters rejected a bond issue to bolster relief funds; and the city council declined to increase taxes to boost its depression relief budget. At issue was the control over FERA distribution imposed by Governor Murray, and lawmakers' reluctance to meet federal funding match assessments, despite a budget surplus in Oklahoma City and sufficient state funds to reduce property taxes. Although he criticized

6144-435: The military after the war started. The gap left by the ones who left was compensated for by recruiting more colonists and consolidating parcels. In addition to the colonists not being as good farmers as had been hoped, the land was worse than anticipated. The Matanuska valley was not the picturesque valley that 'valley' brings to mind. At one time, the valley was filled with a big glacier. This glacier had left its mark upon

6240-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for

6336-517: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation

6432-726: The original colonists had left the valley. By 1965, only 20 of the first families were still farming the valley. The Matanuska Colony was part of Franklin D. Roosevelt 's New Deal plan to help move the United States out of the Great Depression . It was one of many rural rehabilitation colonies to be established by the Federal Emergency Relief Administration (FERA). Others included Cherry Lake Farms in Florida, Dyess Colony in Arkansas, and

6528-514: The other hand, they were trying to get people off of federal aid. They were to choose on the basis of need. In effect, successful farmers were best off staying put, while the less successful farmers were the ones available to colonize the Matanuska valley. The recruitment also suffered from the enthusiasm of the candidates: they might have presented themselves as being a bit more capable than they actually were. The results revealed themselves early in

6624-561: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,

6720-495: The party's vice president nominee in 1924) was at first unwilling to request aid from the Hoover administration. When Roosevelt's FERA became law in 1933 Nebraska took part. Rowland Haynes, the state's emergency relief director, was the major force in implementing such national programs as the FERA and CWA. Robert L. Cochran, who became governor in 1935, was a "cautious progressive" who sought federal assistance and placed Nebraska among

6816-426: The population of the area, but it did develop the Matanuska Valley as the primary agriculturally productive region within Alaska. During the latter part of the twentieth century, the Matanuska Valley saw continued success with dairies and farming for local consumption. However, a number of factors limited their commercial success. With the decline of air and refrigerated freight costs, milk and other dairy products from

6912-636: The profitability of the Matanuska and Tanana River valley dairies. The Matanuska Valley Colony was returned on the 1940 U.S. Census as the Alaska Railroad Colony (unincorporated). It had a population of 789, which made it the then-12th largest community in the state of Alaska. This was the only time it was separately returned on census records. The mountainous terrain, glacial soils, and climate did not favour large-scale agriculture. The Matanuska , Susitna and Knik river valleys are of glacial origin and are hemmed in by high mountain ranges:

7008-475: The program reached at least one million workers nationwide until it was ended in World War II. Three distinct phases of a federal workers' education program existed: FERA (1933–1935), Works Progress Administration (WPA—prior to separation from the other adult education programs, 1935–1939), and WPA Workers' Service Program (1939–1943). FERA and WPA workers' education stimulated educational activities within

7104-465: The public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike the Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of

7200-623: The railroad. A brief report of the valley's climate was prepared by M.B. Summers, of the U.S. Department of Commerce Weather Bureau in 1925. By 1935, the year when the federal-sponsored Midwestern farmers arrived, climate records had been kept for 15 years. In July 1941 the bureau established a network of 15 stations in collaboration with the Soil Conservation Service and the General Land Office, to record temperature and precipitation. (Of these 9 did not work beyond

7296-487: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,

7392-514: 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. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in

7488-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to

7584-477: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to

7680-417: The train until transient workers could complete their temporary tent housing. Plots of land were given out through a draw, with the majority of the plots still forested. The colonists quickly got to work clearing their land in order to comply with the government contracts they signed. The Alaska Rural Rehabilitation Corporation (ARRC) was the governing body of the colony. The ARRC regulated the commissary, what

7776-410: The valley by the time the first settlers arrived. A tent city was erected while the valley was cleared of thick woods. Within weeks of the arrival in Alaska, there was a measles epidemic that spread throughout the colony. At that time, there were no permanent houses or hospitals. Though only a few settlers died, the event was disheartening and foreshadowed the difficulties of living in a remote area. There

7872-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for

7968-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by

8064-451: The welfare bureaucracy, Murray championed the state's yeoman farmers and took credit for the food, seed, and books that they received from federal funds. New Deal administrators ultimately removed Murray from his oversight role, charging corruption in aid distribution, failure to meet employment quotas, and the inability to determine local funding needs. In Nebraska, Democratic Governor Charles W. Bryan (brother of William Jennings Bryan and

8160-488: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of

8256-439: Was a high failure rate due to the short growing seasons, steep freight prices, and distant markets. These harsh conditions took their toll on the settlers. By 1940, over half of the population had left the valley. In 1965, there were only 20 families left. Colonists began to arrive to their new home in early May 1935. There was very little ready for them as far as housing and supplies were concerned. Colonists were forced to stay on

8352-411: Was also a major source of unrest. There was only one doctor and a few Red Cross nurses in the colony. More serious cases had to be sent by train to Anchorage. Polio, measles, chicken pox, and pneumonia quickly ran through the community, especially affecting the children who made up half of the population. With the media spotlight on the colony, the government was forced into providing medical facilities. As

8448-556: Was attended every Sunday. The colonists' life centered around community life. The Matanuska Colony produced a range of crops and livestock. The primary cash crop were potatoes. In 1947, it was noted that approximately 2,500 tons were grown, with yields of 10–17 tons per acre, with the quality being excellent. Additional successful crops yielding thoroughly ripened grain included wheat, barley, oats, and winter rye. Hay, crops of oats, alone and with peas or vetch, also did well. Silage of oats and peas were also very successful. Farmers found that

8544-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on

8640-465: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though

8736-748: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in

8832-455: Was never implemented. Ellen Sullivan Woodward was director of women's work for FERA and CWA. During the short lifespan of the CWA, Woodward placed women in such civil works projects as sanitation surveys, highway and park beautification, public building renovation, public records surveys, and museum development. Most were unemployed white collar clerical workers. In July 1934, the FERA established

8928-406: Was planted, as well as the activities of the colonists. It was also in charge of removing colonists who did not continue to meet expectations. Colonists who were in poor health, broke major rules, or were bad farmers could be asked to leave. There were many major issues within this administration. Rules and regulations as well as administrators were constantly changing. Within a month of their arrival,

9024-512: Was that the colony candidates would be good farmers with the necessary skills and hardiness required for self-sufficiency in the harsh Alaskan environment. Each family was to receive a 40-acre (16 ha) plot to turn into farmland. From conception to realization, the project progressed rapidly. A survey was made of the Matanuska Valley in June 1934 to ascertain its agricultural viability. Some of the information that would have proven to be useful in planning

9120-458: Was the director of the southeast region of FERA. In 1934, Key West went bankrupt and state turned the city over to the FERA in a dubious constitutional move. Within two years, Stone had reversed the economic disaster and successfully moved the city into tourism, which is still a massive success today. Inventor and educator Blake R. Van Leer also assisted with these efforts and consulted for the state of Florida. United States dollar This

9216-662: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before

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