Hamilton Pros And Cons

“ After 2009, the “tails” side of the coin will feature “an image emblematic of the president Lincoln’s preservation of the United States of America as a single and united country,”(Source F). When we look back at history one of the most memorable president is Abraham Lincoln. Abe being on the penny is big deal because our currency carries important people in history. So taking away the penny would be taking away american pride from the citizen in the US. Abe Lincoln impacted was so big, we gave him a coin. That is saying a lot and taking the penny away is very disrespecting to Lincoln. Let's put it into perspective, why don’t we take everyone off the currency, there would be outbreak in the US because those images represent important history to citizens. Plus little bonus the penny is used by everyone and Lincoln’s legacy leaves on. “ For the first time, a U.S. coin depicted a real historical figure rather than the allegorical liberty figure,”(Source F). This was big piece into our future design of coins because they first tried out lincoln on the penny and people enjoy the design. Our currency should have meaning behind each one especially if it's our history. It shows our pride in ancestry. Without Lincoln we would not be the same. Now let’s head over to more reasons why penny should be

Everyone has heard the name Alexander Hamilton, but few are familiar with his views and actions regarding the survival of the young American republic. He could be recognized for anything from serving our fledgling country by fighting in the New York militia; to serving his community as a lawyer and as a national tax agent;

Click, Click, Click… the penny falls helplessly onto the floor from the customer's wallet as they pull out a crisp five dollar bill. There the penny will stay unless it is swept up into a long forgotten corner or somewhere on the street. The Times John Tierney noted five years ago, that “two-thirds of pennies” share a similar fate. (Source C) For every penny the government manufactures we lose a half of a cent, though seemingly miniscule, when multiplied by the ten million pennies minted on a daily basis, that's an even five million dollars going

When George Washington became president, the economy was in shambles. Hamilton spearheaded the establishment of a gold-based dollar, ensured that the war debt was paid, and stated that, in justice, the purchasers (instead of the original holders) of war bonds would be paid their current value. This demonstrated that the federal government respected property rights and the sanctity of contract. A group of merchants admired Hamilton so much that they paid for a fifteen-foot marble statue of him—a statue that stood on the floor of the New York Stock Exchange before it was destroyed in the Great Fire of

If history could rewind to when Alexander Hamilton was the treasury secretary instead of Jack Lew, the former would most definitely make the more sensible decision: to swap the Andrew Jackson adorned $20 with a prominent historical female portrait. As it is 2015, Treasury Secretary Lew -- seemingly deaf to countless proponents of doing so -- has unilaterally decided that the $10 bill (and Alexander Hamilton) be unseated.

The penny has been around for so many years that it's apart of our history, but it is to costly to make and were losing money because of it. They are really expensive because it cost 2.4 cents to make and only are worth one cent (Sommer). Were also losing tons of money to be exact were losing 60.2 million per year on the production

Financially, the penny continues to be a poor investment. “The U.S. already has 18.4 trillion dollars worth of debt (Patton 2).” With making the penny,

Our lowest denomination coin serves as a reminder of Lincoln’s legacy. The 16th President is known for unifying the people politically, socially, and economically after the civil war. Source C argues that “ even President Lincoln…would be ashamed to have his face on this specious specie”; the arguer overlooked the fact that Lincoln set out to unify the people. As discovered by the Harrison Poll two thirds of the people valued the penny, which means Lincoln would have kept the penny in circulation. According to some like Michael Bishop “ the penny is perhaps the most visible and tangible reminder of Lincoln’s significance in American history”(Source F). Lincoln was the first historical figure to appear on a form of American coinage. Banning the penny would be disrespectful to his memory and his contributions to society. Plus according to source F, in 2009 President Bush directed the Secretary of Treasury to issue newly designed pennies that

With over one-third of the nation’s money being fake, it became a real issue. When there is fake money in the economy, it drains the value of the US dollar. It drains the value because, the more bills that are out there, the less value there is to the ones in people’s wallets, which tears apart the nation’s economy. ("U.S Secret Service in History," n.d.) Even today the US still takes counterfeiting very serious, a single charge of carry fraudulent money can add up to 250,000 dollars in fines, and possibly 20 years in prison (Followill, n.d). Fake money still affects us today, and should be taken very seriously.

One reason for the penny to be eliminated from the U.S. economy is how much it costs to produce. The one-cent coin actually costs more to produce than what its originally worth. Copper, is the material the coin is made from which is very expensive. According to Source 1, “In the United States, the mint says, each zinc and copper coin costs 2.41 cents to produce and distribute” (p.1). This example shows the amount the penny costs to make. It costs an extra dollar and

Around the world, countries have taken notice of the hassle of pennies. In 2012, the Canadian government decided that it would begin to phase out the penny, in an effort to save precious funds during the tough financial times. Also, in 1857, the United States phased out the half cent finding that it was no longer useful. In 2016, almost 200 years since then, times have again changed, and the penny is no longer useful to us. It is time to ask ourselves why we keep this useless commodity around when it takes both time and money from us. It is time to ditch the penny and reap the benefits of its

Approximately 715,000,000 bills weighing 7,000 tons are shredded every year. This number accounts for 3% of the total value of paper money in circulation. Why are more one dollar bills shredded than one hundred dollar bills each year? This is because one dollar bills are more often used to buy goods and services each year than one hundred dollar bills. Consequently, one dollar bills have shorter

Get a dollar bill and take a closer look at it and you will notice that there are actually a couple of things tied to the number “13” which refers to the 13 original colonies. There are the 13 stars located above the eagle, 13 various representations of the number 13, there are 13 steps on the pyramid (which most people failed to notice), there are also 13 horizontal stripes which is on the top of the shield and also 13 vertical bars which is also on the shield. There are also 13 leaves and 13 berries that can be found on the olive branch in one for the eagle’s talons, 13 characters can be seen in 1776 from its Roman numeral form which is MDCCLXXVI. These are just a couple of “13” things that can be found in the dollar bill, check out a few more to see for

In 1965, Lyndon B Johnson passed into the law the Coinage Act of 1965 which eliminated or reduced the silver content of most U.S. coins. The U.S. currency was originally established by Alexander Hamilton in 1792 where the value of a dollar was 371 ¼ grains (0.77 ounces) of silver. From 1792 until 1965 the value of the dollar did not change dramatically aside form periodic fluctuations. Since 1965 the value of the dollar dropped as low as 0.02 ounces of silver.

Overseas, the sterling currency was of lesser importance. Dollars were more alluring - and as many thought stable. But in 1971 President Nixon devalued the dollar - a response to damage done by the Vietnam War - and opened the gates to a new era of floating exchange. The stability of the postwar settlement was over.