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Feb 8, 2010
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Published on Feb 6, 2010
Who Was The First American On The $1 Bill? This column has shared stories of Americans whose contributions include our nation's symbols (Francis Scott Key, wrote our national anthem, "The Star Spangled Banner," and Francis Hopkinson, who designed the American flag that Betsy Ross had sewn); Americans whose images have appeared on our currency (President Washington, Jefferson and Lincoln, as well as Ben Franklin and Alexander Hamilton, although Hamilton was born in the West Indies); and Americans who have had great institutions named after them (James Smithson's Smithsonian Institution, although he was a Brit who never stepped foot in America). We've also discussed Americans who have helped form new political parties (Presidents Jefferson and Lincoln). This week's story discusses all of the above topics. So who was the American who contributed one of our nation's symbols in this story? His name was Salmon Chase. He was born in 1808 in Cornish, New Hampshire. He was Secretary of the Treasury in 1861 when he received a letter from a man telling him that God should be recognized on American coins. Chase agreed, and as a result, the phrase "In God We Trust" first appeared on the one-cent penny and on the two-cent coin in 1864 (yes, there was such a thing as the two-cent coin in 1864). In 1955, Congress mandated that "In God We Trust" appear on all U.S. currency, and President Eisenhower approved the phrase as our nation's motto a year later. So who was the American whose images have appeared on our currency in this story? For that matter, who was the first person to appear on a $1 bill? Think it was our first president, George Washington? Nope. Once again, it was Salmon Chase. How could that be? And why Salmon Chase? Until 1860, the nation's currency was printed by more than 1,600 local banks, which resulted in thousands of different localized versions of currency. As a result, it was pretty easy to produce counterfeit money. Chase was the main person behind standardizing the currency and establishing our nation's banking system. When President Lincoln appointed him as Secretary of the Treasury, he was responsible for designing the new currency. Since Chase had plans to pursue the presidency himself, he felt that inserting his own image on the $1 bill would enable him to impress the largest number of voters. In 1862, Chase's image was shown in the left-hand corner of every $1 bill, while George Washington didn't make his debut on the $1 bill until 1869. Later, in 1928, the Treasury honored Chase by putting his image on the $10,000 bill. These bills were used in bank transfers until 1946. The next part of this story is about an American who had a great institution named after him. Who would that be? You guessed it . Salmon Chase, as in Chase National Bank, which became Chase Manhattan Bank and is now known as J.P. Morgan Chase. The bank was named in his honor even though Salmon Chase had nothing to do with the bank. So what did he do for an encore? He was a staunch abolitionist who represented slaves prior to his political career when he was a lawyer. He was even more anti-slavery than Lincoln was, as he even pressed for slaves' rights to equality and to vote. Before he was Treasury Secretary, he was a U.S. senator from Ohio. Then he was governor of Ohio. He sought the presidential nomination of the Republican party in 1860, which he lost to Lincoln. Speaking of the Republican party, Salmon Chase was one of the men who helped form the party, but he didn't stop there. In 1846 he helped form the Free Soil Party by combining the Liberty Party with the Van Buren Democrats of New York. When President Lincoln nominated him as Chief Justice of the Supreme Court in 1864, he served in that role until his death in 1873. Despite all his accomplishments and the legacy that he left behind, his daughter died in poverty in 1899. She is buried alongside her father. So there you have it . Salmon Chase is probably the most accomplished American you've never heard of. Until now. Paul Niemann's column has appeared in more than 110 newspapers. He can be reached at niemann7@aol.com c Paul Niemann 2010 Comments:
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