DebateGate

General Category => 3DHS => Topic started by: Religious Dick on July 23, 2007, 03:12:57 AM

Title: Our First Money
Post by: Religious Dick on July 23, 2007, 03:12:57 AM
(http://upload.wikimedia.org/wikipedia/commons/9/99/Fugio_cent.jpg)

This is the Fugio cent, the first American money authorized by the Continental Congress in 1787. The combination of the caption "FUGIO" (Latin: I flee) and the sundial form the expression "Time flies", and the motto, in distinct contrast to the current "In God We Trust" was the admonition "Mind Your Business".

It's hard to imagine money like this being minted anywhere on the planet these days, let alone in this country, where nobody, anywhere, at anytime, seems to be able to mind their business.

I post this as a reminder as to how distinctly different a country this has become from the one bequeathed to us by our founders.

I think I'd prefer a return to the original motto on our currency, given that our current population would likely profit from a frequent reminder.
Title: Re: Our First Money
Post by: _JS on July 23, 2007, 12:15:11 PM
I believe there was a continental dollar in 1776, but I could be wrong.

Regardless, this coin was issued during the Articles of Confederation. The country was very different at that time and the coin's designer, Ben Franklin, agreed to the new constitution. When the constitution was ratified the coins bore the new national motto e pluribus unum which was also non religious.

The motto "In God We Trust" was added to the two cent coin by the Union in 1864. It was not mandated on all US coinage until 1956 (which was also when "under God" was placed into the Pledge of Allegiance).
Title: Re: Our First Money
Post by: Universe Prince on July 23, 2007, 01:26:28 PM
I thought our first money was the peso.
Title: Re: Our First Money
Post by: Religious Dick on July 23, 2007, 03:29:38 PM
Quote from: _JS on July 23, 2007, 12:15:11 PM
I believe there was a continental dollar in 1776, but I could be wrong.

Yes. Actually paper currency was issued in 1775, and a coin of similar design to the Fugio cent was issued in 1776. The Continental coin wasn't specifically denominated as a dollar.

http://en.wikipedia.org/wiki/Continental_dollar

Quote from: Universe Prince on July 23, 2007, 01:26:28 PM
I thought our first money was the peso.

You would probably think that because Reason hasn't bothered to fact check an article since Gillespie took over as editor.

The actual currency was the Spanish dollar. Which is definitely not a peso.

http://en.wikipedia.org/wiki/Spanish_dollar

Title: Re: Our First Money
Post by: Universe Prince on July 23, 2007, 05:13:30 PM
Quote from: Religious Dick on July 23, 2007, 03:29:38 PM

You would probably think that because Reason hasn't bothered to fact check an article since Gillespie took over as editor.

The actual currency was the Spanish dollar. Which is definitely not a peso.

http://en.wikipedia.org/wiki/Spanish_dollar


Not everything I say is based on an article in Reason. And as long as we're using Wikipedia, I guess I ought to point to this:

      After a decree adopted by the United States on 6 July 1785, the peso became the official currency of most of North America; it also became the foundation for the U.S. monetary system, at a rate of one peso to one dollar. The US dollar was not issued until 2 April 1792, but the peso continued to be officially recognized and used until 21 February 1857.
http://en.wikipedia.org/wiki/Mexican_peso#Use_outside_Mexico
      
Title: Re: Our First Money
Post by: The_Professor on July 23, 2007, 10:01:39 PM
And why is Reason such a valued source?
Title: Re: Our First Money
Post by: Universe Prince on July 23, 2007, 11:09:25 PM
Quote from: The_Professor on July 23, 2007, 10:01:39 PM

And why is Reason such a valued source?


I don't know what answer I can give that won't be ridiculed, but I'll try anyway. Reason is an intelligently written and highly regarded magazine and website. It discusses hot topics and current events from a libertarian perspective, but without the venom common on some other libertarian sites, like LewRockwell.com. It is a good source for news stories I don't see getting much coverage elsewhere, like the Cory Maye case.
Title: Re: Our First Money
Post by: The_Professor on July 23, 2007, 11:48:27 PM
I see. I was not aware of this. Thank you.
Title: Re: Our First Money
Post by: Plane on July 23, 2007, 11:55:00 PM
Quote from: Universe Prince on July 23, 2007, 11:09:25 PM
Quote from: The_Professor on July 23, 2007, 10:01:39 PM

And why is Reason such a valued source?


I don't know what answer I can give that won't be ridiculed, but I'll try anyway. Reason is an intelligently written and highly regarded magazine and website. It discusses hot topics and current events from a libertarian perspective, but without the venom common on some other libertarian sites, like LewRockwell.com. It is a good source for news stories I don't see getting much coverage elsewhere, like the Cory Maye case.


Reading it is a good chore for UP_
Title: Re: Our First Money
Post by: Universe Prince on July 24, 2007, 12:02:21 AM
Plane, what does that even mean?
Title: Re: Our First Money
Post by: The_Professor on July 24, 2007, 08:37:19 PM
Let the contest begin...Okay, who's got the popcorn?