For how long was the Mexican Peso the official currency of the United States?
Answer:
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. In Canada, it remained a legal medium of payment until 1858.
The Mexican peso also served as the model for the Straits dollar, the Hong Kong dollar, the Japanese yen and the Chinese yuan.
Never.
never that i know of.
never -- Spanish peso maybe along with the many other currencies at the birth of our nation.
As long as the official language became Spanish.
Only until they realized that the dollar was worth about 12 times as much.
Pardon?
About Zero minutes.
It's never been the official currency. However some businesses in the US accept the Peso in payment.
The Mexican Peso was never the "official" currency anywhere in the United States.
NEVER! America is not and NEVER was Mexico! How dare you!
It never has been and will never be. Likewise with the language.
The US should adopt formally the English language as our official language and make it a requirement to learn it for citizenship.
I've lived all over the world and every country I lived in I learned the language. It is a simple matter of respecting the people and their country.
Never.
The Mexican Peso never was but the Spansh dollar was unofffically .
Imagine a small, fearless group of colonists, creating a new civilization out of the wilderness. In 1690, the Massachusetts Bay Colony issued the first paper money in the colonies that would later become the United States. Until that time, money consisted of gold and silver coins from England, Spain, and other countries. For many years, the Spanish Dollar coin served as the "unofficial" national currency of the American colonies. As trading started up between the settlements and coins became scarce, many colonies printed their own colonial notes.
Think about a new country struggling to shake off the chains of oppressive, foreign rule. Picture a fledgling army of colonists, led by General George Washington. To finance this army, the Continental Congress authorized the limited issuance of paper notes in 1775. Known as "Continentals," the currency had no backing in gold or silver. Instead, Continentals were backed by the anticipation of future tax revenues--redeemable only when the colonies won their independence.
The new nation was declaring its sovereignty. This marked the first time that money did not carry the image of European royalty. It was the first attempt to replace the many types of "unofficial" Colonial currency with one that would be widely accepted. Some engravers, such as Boston's Paul Revere, went so far as to create printing plates that read "The United Colonies."
Unfortunately, without solid backing by gold or silver and because so many notes were printed, Continentals soon became devalued. This lead to a popular expression of the day--"not worth a Continental." Even George Washington was heard to say, "A wagonload of Continentals will hardly purchase a wagonload of provisions."
This uncertainty created a deep distrust of paper money, an enduring theme in the evolution of American paper money. Some Colonial and Continental notes were engraved and printed by prominent statesmen and revolutionary heroes, such as Benjamin Franklin and Paul Revere, to give the paper currency credibility, but the public's distrust persisted.
In 1781, to lend further support to the Revolutionary War, the Continental Congress chartered the Bank of North America in Philadelphia as the nation's first commercial bank. Four years later, the Continental Congress adopted the dollar as the unit for national currency.
never. I heard they make pesos out of plastic, is that true?
When Hell freezes over
When pigs fly
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