wilbtc on Nostr: 💰💥 The Monetary History of the USA: Pre-American Era 💥💰 Join me on a ...
💰💥 The Monetary History of the USA: Pre-American Era 💥💰
Join me on a journey through time as we explore the fascinating evolution of money in the United States! 🇺🇸 Before #Bitcoin
#MonetaryHistoryUSA #PreAmericanEra #MoneyEvolution
[THREAD] 👇👇👇
In the pre-American era, before the United States became a nation, various currency's were used in the territories that would later become the USA. These currencies were influenced by the European colonizers who arrived on American looking for a new life.
💵 Native American Tribes' Trade Items
Native American tribes had their own systems of trade and barter, using commodities such as furs, shells, beads, and agricultural produce as a medium of exchange. These items held value and were used in trade between tribes and early settlers. #TradeItems
🐓🌽🍴 The Colonial Barter System
Early settlers in the American colonies relied on a barter system for trade. Corn, wheat, tobacco, and livestock became forms of currency, a farmer might exchange a sack of corn for a barrel of flour. 🌾🐄🌽 #ColonialBarter
🗽🍁 The Influence of European Coinage
European coinage, such as Spanish silver coins like the Spanish dollar (also known as "Pieces of Eight"), played a significant role in early American trade. These coins were widely accepted and circulated throughout the colonies. 💰🇪🇸 #SpanishDollar
💶💵 Colonial Paper Money
To address the scarcity of coinage, some colonies issued their own paper money(shitcoins). Massachusetts was the first to do so in 1690, followed by other colonies. These colonial bills were redeemable for goods or later taxes, and their value varied widely. 🏦📜 #ColonialPaperMoney
🌾🏭 The Rise of Commodity 💰
As the American colonies developed, commodity money emerged. Items like tobacco, wampum (beads made from seashells), and animal skins were used as a medium of exchange(read The Bitcoin s
Standard). The value was often tied to the availability and desirability of the specific commodity. 🏭🐚🌾 #CommodityMoney
That's it for now! Stay tuned for the next installment, where we'll explore the next chapter in the monetary history of the USA: the Revolutionary Era. 🎩🎇
#MonetaryHistoryUSA #RevolutionaryEra #MoneyEvolution
Join me on a journey through time as we explore the fascinating evolution of money in the United States! 🇺🇸 Before #Bitcoin
#MonetaryHistoryUSA #PreAmericanEra #MoneyEvolution
[THREAD] 👇👇👇
In the pre-American era, before the United States became a nation, various currency's were used in the territories that would later become the USA. These currencies were influenced by the European colonizers who arrived on American looking for a new life.
💵 Native American Tribes' Trade Items
Native American tribes had their own systems of trade and barter, using commodities such as furs, shells, beads, and agricultural produce as a medium of exchange. These items held value and were used in trade between tribes and early settlers. #TradeItems
🐓🌽🍴 The Colonial Barter System
Early settlers in the American colonies relied on a barter system for trade. Corn, wheat, tobacco, and livestock became forms of currency, a farmer might exchange a sack of corn for a barrel of flour. 🌾🐄🌽 #ColonialBarter
🗽🍁 The Influence of European Coinage
European coinage, such as Spanish silver coins like the Spanish dollar (also known as "Pieces of Eight"), played a significant role in early American trade. These coins were widely accepted and circulated throughout the colonies. 💰🇪🇸 #SpanishDollar
💶💵 Colonial Paper Money
To address the scarcity of coinage, some colonies issued their own paper money(shitcoins). Massachusetts was the first to do so in 1690, followed by other colonies. These colonial bills were redeemable for goods or later taxes, and their value varied widely. 🏦📜 #ColonialPaperMoney
🌾🏭 The Rise of Commodity 💰
As the American colonies developed, commodity money emerged. Items like tobacco, wampum (beads made from seashells), and animal skins were used as a medium of exchange(read The Bitcoin s
Standard). The value was often tied to the availability and desirability of the specific commodity. 🏭🐚🌾 #CommodityMoney
That's it for now! Stay tuned for the next installment, where we'll explore the next chapter in the monetary history of the USA: the Revolutionary Era. 🎩🎇
#MonetaryHistoryUSA #RevolutionaryEra #MoneyEvolution