Money was a topic of discussion at a recent family gathering. Gerry and I are usually actively involved in discussions but we sure weren’t that day. They talked about new money methods that were more foreign to us than our experiences adjusting to currencies when traveling in foreign countries.
“Venmo” … it’s a system for doing money transactions electronically. If you’re in our generation, you probably aren’t familiar with “Venmo” either. Even my computer isn’t familiar with that word as it highlights it as a misspelling.
My granddaughter’s husband Jordan Matthews tried to explain it to me. He says you go to the Venmo app, create a user name and password, enter your bank information, and you’re ready to go. You can do transactions to a friend or business that uses Venmo right from your cell phone.
Jordan said, “I think it’s great. It’s user friendly, it’s convenient. You don’t have to go to the ATM to get cash anymore or take a check to the bank to cash it. Everything is done through the cell phone. Venmo is your virtual wallet.”
So much is done virtually today. We visit our friends and hold meetings on Zoom. Imagine not even needing a real wallet. Then when our son told us that someone paid him in Bitcoin and he doesn’t even have a coin to show for it, we really knew changes are here.
I wondered how much longer our present currency would last. Will our coins become collectibles? And our paper money with pictures of important forefathers, will they no longer be used? The thought led me to examine and research our one dollar bill.
Take one out, unless you’re a young person who no longer uses cash. The bill is a work of art. Look at the lacey designs in the borders on both the front and back, also the shadow printing in the lettering. Not only is it a work of art but it is a work of symbolism and history.
The one-dollar bill was first made in 1862 during the Civil War; in 1869 it got its permanent design with George Washington pictured on it, a perfect choice, the number one dollar with the number one president.
The four numbers beside the President tell which federal reserve bank the bill is distributed from; the one-dollar bill in this photo has four 6’s on it which tells it came from the bank in Atlanta. There are 12 federal reserve banks and if you look closely at the seal on the left side of the picture, you can read which bank yours came from.
It fascinated me that every bill printed has a different identification number and over two billion bills are printed a year. The year a bill was printed is on the lower right side of the picture.
The back of the bill is really very interesting. The eagle holds olive branches in its right talon and arrows in its left. Its beak holds a scroll “E Pluribus Unum” which means “Out of many, one” — showing that we are united. The horizontal bar across the shield on the eagle symbolizes our government which holds all the states together. The eagle faces the olive branch displaying that we are a country that wants peace but the arrows on the other side show that we are not afraid to fight for it if necessary.
I’ve always been curious about the unfinished pyramid beside the seal. It was inspired by the strength and durability of the pyramids in Egypt that have been able to withstand the challenges of time. “Annuit Coeptes” on top of the pyramid translates “God has favored our undertaking.” “Novus Ordo Seclorum” below the pyramid tells “a new order of the ages” and the Roman numeral MDCCLXXVI at the base proclaims the year of our country’s birth, 1776. The wide-open eye at the top shows vigilance; God is watching over us. The unfinished structure of the pyramid signified that we were strong but not finished. We started with 13 states, 37 that joined later.
The incredible accomplishments of the patriots in those original states is recognized in many places — 13 arrows, 13 olive branches, 13 olives, 13 stars below the scales of justice on the Department of Treasury seal, 13 stripes on the eagle’s shield, 13 stars on the crest above the eagle.
Ben Franklin wanted the country’s seal to include the presence of divine providence. How happy he would have been in 1864 when Congress adopted “In God We Trust” as the country’s national motto. It was minted on our coins and across the back of the dollar bill.
“Virtual” has become an everyday part of our lives since COVID started. Now it’s even in our money transactions. Change is something that never stops. It’s represented in the unfinished pyramid. We have to expect change and be accepting and stimulated by it.
Now my husband, Gerry and I have to learn about Venmo and Bitcoin and understand the 2022 financial virtual world. Learning new things keeps us young.
Carole Gariepy lives in Phillipston.