Throughout the world at the present time, there is an activity being carried on that has been in existence in some form since the beginning of civilization.  However, since World War II it has been on a steady increase, and now we find it in just about every direction we look.

Yes, in just about every direction we turn our heads we see people building.  Buildings—of all different sizes and shapes, constructed of all types of materials, and for a variety of purposes—are being built.  And there is one thing that all of these buildings must have in common to pass inspection: a solid and secure foundation.

If a building doesn’t have a good foundation, it won’t make any different how much money is spent on it or how well it is built.  It will not be long until the windows begin to jam, the plaster cracks, and the floors buckle.  One must have a secure and solid foundation upon which to build.   

What we have been saying about buildings is also true of people—we must have a solid and secure foundation for our lives.  There was an Episcopalian clergyman I was acquainted with who wore a size “tipple D” shoe.  His foot was so big he was fondly referred to as “Reverend Footsie.”  But this is not the kind of foundation I am referring to: I’m thinking about the foundation to man’s soul, the foundation to one’s very house of life. Read more…

Last week, my wife and I went to our favorite pizza place.  When we were finished eating, the waiter brought us the check.  I didn’t have the correct change.  So I quickly figured the tip in my head, gave him two larger bills, and said to him, “Just bring me back five dollars, and I’ll be happy.”  He replied, “Okay, I’ll bring you back five bucks.” 

His referring to five dollars as five “bucks” caught my attention.  When growing up in southern Missouri, “bucks” was a very common term used for “dollars,” but having lived in the St. Louis area for the last twenty years, it had been some time since I had heard “bucks” used in this way. 

This caused me to wonder how bucks came about to mean dollars and, for that matter, what about other terms often used to refer to money such as “grand,” “dough,” “lettuce,” “bacon,” “sawbuck,” “scratch,” and “stash,” to mention a few.  So for the third week in a row I am writing about money. Read more…

When writing last week’s article, Where did that money come from?, a banker called my attention to “Bitcoin,” a virtual currency introduced in 2009.  An informal survey I took indicated that few people know very much about “virtual” currencies.  So this week I decided to do a brief sketch of the historical development of the U.S. monetary system, hitting the highlights of what most of us have known and perhaps become a little foggy about, concluding in more detail with the development of virtual money.  Acknowledging that I am not a currency historian, after extensive research I am using layman’s terminology to explain things as I understand them. 

The value of a country’s currency is basically dependent upon the country’s integrity and having the assets necessary to pay its debt and back up its currency.  This was a real problem for early Americans prior to, and for several years following, the Revolutionary War. Read more…

$$$   Where did that Money Come From?   $$$

“Two bits, four bits, six bits, a dollar; all for Lebanon stand up and holler.”  I was reared in Lebanon, Missouri, attended Lebanon High School, and that was a cheer used especially at our basketball games.  Of course, other teams used the same cheer, inserting their own names.  Back then, it was quite common to refer to a quarter as “two bits” or a half-dollar as “four bits” or seventy-five cents as “six bits.”  

We hardly see half-dollars now, and although quarters are still quite common, we seldom hear them referred as “two bits.”  In fact, from an informal survey I took, most people about forty years and younger do not have any idea what “two bits” or “four bits” or “six bits” or any number of bits refer to.  Many people assume that using “bits” to refer to USA money is slang.  But the “bit” has a legitimate historical connection with the USA monetary system that can be traced to colonial times.  Read more…