The expression “The buck stops here” is a popular saying where the buck actually symbolizes accountability which is understood to stop at the desk of the President of the United States. But if the buck stops there, then the next question would be that where did the buck (dollar) start? It would be worthwhile to be aware of the origin of the dollar, and go one step further and honor this important symbol of America’s identity with a special day – yes, the Dollar Day!
The National Dollar Day was first observed in 1786 with the establishment of the Continental Congress and incorporating it into the monetary system of the United States’
Monetary system. On a lighter note, in those days, one could probably buy a horse with a dollar. Today, we might just be able to buy a pack of gum. But jokes apart, what is the story of our national currency which is more international than ever today?
Surprisingly, the dollar dates back to the pre-independence days in the period of the issue of early American currency which was then written in what was known as the colonial script when it was used in combination with gold and silver. Way back then the dollar was popularly known as a “greenback". Today it is known as “fiat money”, which basically means that the total amount of paper currency held is backed up with the existence of a physical asset.
So this August, do look out for the activities which will be carried out in connection with this important day. And if you would like to be one among the population of a great nation with an equally great currency and pay obeisance to it, then do celebrate the Dollar Day this year!