Roman Coins And Its Impact On Public Opinion

Patricians hold all the offices in ancient Rome and plebeians who outnumbered them were mostly farmers, craftsmen and soldiers. Therefore one can understand that practically while plebeians had no rights or knowledge, they were in an advantageous position as patricians couldn’t defend the city or do any kind of job without their help. Plebeians couldn’t tolerate the increasing debt and the abuse of patricians and demanded equality, by blackmailing the patricians

First, Romans created a strong government where not just one branch had unlimited power. The Romans had strong leaders almost like the president and senators. For example, if one branch wanted to pass a law, all branches would vote to see if the law could last or not be a law at all. Even though the people of America vote, the Romans still influenced a lot of people.

Despite the inflation of New England paper money, it was successful in stimulating the New England economy. Likewise, Pennsylvania utilized the Pennsylvania pound to fend off a depression in the 1720s, but unlike New England, their bills stayed stable throughout their circulation until the Revolutionary War. To understand why these paper currencies were so successful, it is

It was one of the earliest monetary policies to institute the circulation of paper money on a national level. Customers would deposit their gold coins for storage into a bank for a small fee. In return, they received bank receipts, which were then used as paper money in place of valuable elements like gold. The idea of using bank notes as paper money quickly gained popularity because they were, of course, much easier and more convenient to transport and exchange than heavy gold coins.

First, the U.S. Mint is still exploring additional designs, more cost efficient, and more metal composition for the penny(Source 4). In fact, they have modified it over the years starting from 1857 to today. In 1857 it was immense, larger than today’s quarter, then, in 1909 U.S. Mint produced the Lincoln penny(Source 4). After that, the bronze coin is part of our language. For instance, it offers us a variety of phrases throughout time such as “a penny for our thoughts” or “penny candy”(Source 4).

In 1864, the first pennies were made. In 1909, they were made with Abraham Lincoln’s face printed into it, in honor of his 100th birthday. That was 108 years ago, and pennies are still going around today, with the same president still printed on. However, many U.S. officials are saying the penny should be obsolete. More believe that the little copper and zinc coin should stay as a piece of U.S. money. This essay will give evidence on both sides, supporting them equally in their arguments on why the penny should stay, or go.

Throughout American history, the United States Mint has coined several denominations that would now be considered “odd” or “strange” by the general public: half cent, two cent, three cent, half dime, twenty cent, quarter eagle, three dollar, half eagle, eagle, and double eagle. At the time, however, many of these were seen in everyday circulation, a completely normal denomination. Each of them had a purpose behind its inception and a practical use after mintage. For example, the two cent piece was coined during and after the American Civil War to address the shortage of small denomination coinage. The three cent piece was minted to make purchasing postage more convenient, which was priced at three cents at the time. One of these denominations stands out from the rest: the twenty cent piece. It holds the honor of being the shortest lived circulation denomination in United States history. This, however, should not come as a surprise; the denomination was doomed from the beginning.

Keep in mind, you should know that the government changed a lot in its time. The patricians pretty much had all the power early on in the Republic. The highest position in the Republic was held by the consuls, who were the "rulers" of the Roman Republic. A senate made up of patricians and the assemblies elected these people to become consuls. Plebeians pretty much had no say in the government at the time.

People shaved some off the sides of the coins to later melt the clippings down for other coins. You would not make a profit all at once, but after a while of clipping, you would be able to make your own coins(Why do some US coins In Have Ridges)

The United States Mint is responsible for producing and circulating all coinage for use in economic trade or commerce. However, few are actually aware of the history behind this financial intuition. In the beginning of America’s days as a colony, each state produced its own currency or accepted foreign coins as a means of payment. Massachusetts was the first of the colonies to produce a paper currency, which later gave rise to Continental Currency in an effort to finance the Revolutionary War. However, these paper notes had no solid backing of any kind other than predicted taxes revenue collected from each colony. In 1781, The Continental Congress sought to increase confidence in its currency through the establishment of The Bank of North America in Philadelphia, which was then the capital. The printing of money was left to private banks who printed notes of all kinds. As a result, paper notes and coins were easily counterfeited. Silver bullion coins were easily pressed and engaged with images and the exchange rate varied throughout each colony.

The optimates advocated for traditional governance approaches pertinent to Rome while the Populares advocated for the growth of the powers of the Plebeian assembly. Before the rift could be addressed, the Plebian assembly and the Senate started antagonizing each other. The senate managed to outwit the Plebian assembly and assume powers as the highest political organ in the Republic. Around the same period, there was influx of money and goods into Rome. This had the effect of turning the Roman system from land ownership controlled to a social setting where a few individuals who were mainly senators were able to enrich themselves (Morato, p.4). With wealth, the fight for political power would soon emerge turning the senators against each other. Tiberius and his brother Gaius ended up being assassinated along with their followers because they sought to shield the Senate from the corruption. Unrest began within the republic in the 2nd century B.C.E. Marius reorganized the army during the social war. He would later fight in the civil war against Lucius Sulla who eventually won. Sulla sought to shield his power through doubling of the number of senators. Most of the new senators were those loyal to him. The doubling of the senate ensured that it had veto powers over the assembly. Julius Caesar took advantage of the unrest to gain authority as consul and consolidate power with what was referred to as the 1st Triumvirate with two others. The powers of the senate and the assembly had been depleted leaving the institutions only as titles. The Republic was falling apart and leading to the rise of the Roman Empire (Wiseman,

In 1775, the Continental Congress permitted lawfully the issuance of the American Dollar to capitalize the Revolutionary War. The word “dollar” was previously in common utilization and was based on the Spanish dollar that had been extensively circulated in the colonies. This new paper currency became established as the “Continental” throughout the colonies. As the war wore on and the colonies’ debt escalate, the Continental became devalued. By May, 1781, Continentals had become so insignificant that people stopped using them. The term “not worth a Continental” became a terminology that lingered until the early 20th century.

The Roman Empire struggled with inflation. When they stopped conquering new lands the value of gold decreased. Gold was being spent for various luxury items. It was used as coins and then it became less valuable. To make more money, merchants or sellers raised up the prices on the items. Many people did not like the raises of prices and therefore they stopped using coins. Eventually people got paid by getting food and had to pay taxes through their food items.

UNIVERSITY OF THE PEOPLE Learning Journal Unit Four Why were plebeians so important to Rome? The plebeians were the working class in the ancient Rome. They were majorly poor people working in the benefits of the patricians. It could be the case that the poorest plebeians actually sell their children or even themselves into slavery so as to be able to have access to the houses of the rich and hence some hope of an education and future. The plebeians were important because they were the most numerous group of people making the Roman states along with the slaves.

During the days of the early Roman Republic (509 – 264 B.C.), two social classes existed in Rome, the Patricians and the Plebeians (Breaugh, 2013, p.76; Encyclopedia Britannica, 2015). Composed of the aristocratic families of Rome, the Patricians wielded the political power in Rome secondary to their dominance of the political system (during the early days of the Roman Republic only members of the Patrician class could hold public office) and their vast wealth. (Breaugh, 2013, p.76; Lewis, 2011, p.57; Morey, 1901).