121 The US Dollar - One Minute History
Interactive Video
•
History, Business
•
11th Grade - University
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
The video covers the history of US currency, starting with the Continental, which lost value post-war, leading to the Coinage Act of 1792 and the creation of the US dollar as a silver coin. Gold and silver were legal tender until the greenback was introduced during the Civil War. The gold standard was reinstated in 1873. The Federal Reserve was established in 1914, and during WWII, the US became the largest gold holder, boosting the dollar's global dominance. In 1970, Nixon removed the gold standard, making the dollar's value reliant on the US government's strength.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
How did World War Two affect the value of the U.S. dollar?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What change did Nixon make to the gold standard in 1970?
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