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109-471: World Team Tennis suspended operations after the 1978 season, and all the franchises were terminated. The league restarted in 1981, under the new name TeamTennis, with four new expansion franchises, one of which was the Strings. Each team owner paid a US$ 75,000 franchise fee. Jerry Buss hired his daughter Jeanie Buss , who was 19 years old at the time, to be the general manager of the Strings. The LA Strings lost

218-620: A U.S. citizen for seven years for the House and nine years for the Senate, and be an inhabitant of the state which they represent. Members in both chambers may stand for re-election an unlimited number of times. The Congress was created by the U.S. Constitution and first met in 1789, replacing the Congress of the Confederation in its legislative function. Although not legally mandated, in practice since

327-478: A federal structure with two overlapping power centers so that each citizen as an individual is subject to the powers of state government and national government. To protect against abuse of power, each branch of government – executive, legislative, and judicial – had a separate sphere of authority and could check other branches according to the principle of the separation of powers . Furthermore, there were checks and balances within

436-482: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler

545-735: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on

654-622: A few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023,

763-535: A grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike

872-566: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized

981-444: A powerful effect of waking up a somewhat dormant Congress which investigated presidential wrongdoing and coverups; the scandal "substantially reshaped" relations between the branches of government, suggested political scientist Bruce J. Schulman . Partisanship returned, particularly after 1994; one analyst attributes partisan infighting to slim congressional majorities which discouraged friendly social gatherings in meeting rooms such as

1090-514: A revised constitution with a two-chamber or bicameral Congress. Smaller states argued for equal representation for each state. The two-chamber structure had functioned well in state governments. A compromise plan, the Connecticut Compromise , was adopted with representatives chosen by population (benefiting larger states) and exactly two senators chosen by state governments (benefiting smaller states). The ratified constitution created

1199-649: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since

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1308-401: A six-year term, with terms staggered , so every two years approximately one-third of the Senate is up for election. Each state, regardless of population or size, has two senators, so currently, there are 100 senators for the 50 states. Article One of the U.S. Constitution requires that members of Congress be at least 25 years old for the House and at least 30 years old for the U.S. Senate, be

1417-517: A state's at-large representation to the federal government by senators. Most incumbents seek re-election, and their historical likelihood of winning subsequent elections exceeds 90 percent. The historical records of the House of Representatives and the Senate are maintained by the Center for Legislative Archives, which is a part of the National Archives and Records Administration . Congress

1526-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set

1635-663: Is directly responsible for the governing of the District of Columbia , the current seat of the federal government. The First Continental Congress was a gathering of representatives from twelve of the Thirteen Colonies . On July 4, 1776, the Second Continental Congress adopted the Declaration of Independence , referring to the new nation as the "United States of America". The Articles of Confederation in 1781 created

1744-440: Is elected and gives each House the power to create its own structure. Section Seven lays out the process for creating laws, and Section Eight enumerates numerous powers. Section Nine is a list of powers Congress does not have, and Section Ten enumerates powers of the state, some of which may only be granted by Congress. Constitutional amendments have granted Congress additional powers. Congress also has implied powers derived from

1853-486: Is essentially charged with reconciling our many points of view on the great public policy issues of the day. Congress is constantly changing and is constantly in flux. In recent times, the American South and West have gained House seats according to demographic changes recorded by the census and includes more women and minorities . While power balances among the different parts of government continue to change,

1962-433: Is extraordinarily sensitive to public pressure. Several academics described Congress: Congress reflects us in all our strengths and all our weaknesses. It reflects our regional idiosyncrasies, our ethnic, religious, and racial diversity, our multitude of professions, and our shadings of opinion on everything from the value of war to the war over values. Congress is the government's most representative body   ... Congress

2071-454: Is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of

2180-586: Is quite uncommon. Article One of the United States Constitution states, "All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives." The House and Senate are equal partners in the legislative process – legislation cannot be enacted without the consent of both chambers. The Constitution grants each chamber some unique powers. The Senate ratifies treaties and approves presidential appointments while

2289-455: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of

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2398-726: Is the legislature of the federal government of the United States . It is bicameral , composed of a lower body, the United States House of Representatives , and an upper body, the United States Senate . It meets in the United States Capitol in Washington, D.C. Members are chosen through direct election , though vacancies in the Senate may be filled by a governor 's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The vice president of

2507-529: The tabloidization of media coverage. Others saw pressure to squeeze a political position into a thirty-second soundbite. A report characterized Congress in 2013 as unproductive, gridlocked, and "setting records for futility". In October 2013, with Congress unable to compromise, the government was shut down for several weeks and risked a serious default on debt payments, causing 60% of the public to say they would "fire every member of Congress" including their own representative. One report suggested Congress posed

2616-540: The Board of Education . Congress began reasserting its authority. Lobbying became a big factor despite the 1971 Federal Election Campaign Act . Political action committees or PACs could make substantive donations to congressional candidates via such means as soft money contributions. While soft money funds were not given to specific campaigns for candidates, the money often benefited candidates substantially in an indirect way and helped reelect candidates. Reforms such as

2725-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following

2834-527: The Commerce Clause , the enumerated power to regulate commerce, in rulings such as McCulloch v. Maryland , have effectively widened the scope of Congress's legislative authority far beyond that prescribed in Section Eight. Constitutional responsibility for the oversight of Washington, D.C. , the federal district and national capital, and the U.S. territories of Guam , American Samoa , Puerto Rico ,

2943-544: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968

3052-463: The Congress of the Confederation , a unicameral body with equal representation among the states in which each state had a veto over most decisions. Congress had executive but not legislative authority, and the federal judiciary was confined to admiralty and lacked authority to collect taxes, regulate commerce, or enforce laws. Government powerlessness led to the Convention of 1787 which proposed

3161-599: The Conservative Coalition . Democrats maintained control of Congress during World War II . Congress struggled with efficiency in the postwar era partly by reducing the number of standing congressional committees. Southern Democrats became a powerful force in many influential committees although political power alternated between Republicans and Democrats during these years. More complex issues required greater specialization and expertise, such as space flight and atomic energy policy. Senator Joseph McCarthy exploited

3270-527: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of

3379-517: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for

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3488-605: The First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in

3597-513: The Northern Mariana Islands . These six members of Congress enjoy floor privileges to introduce bills and resolutions, and in recent Congresses they vote in permanent and select committees, in party caucuses and in joint conferences with the Senate. They have Capitol Hill offices, staff and two annual appointments to each of the four military academies. While their votes are constitutional when Congress authorizes their House Committee of

3706-543: The United States 's exorbitant privilege . The United States Mint has issued legal tender coins every year from 1792 to the present. From 1934 to the present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, half dollar, and dollar. United States Congress This is an accepted version of this page Minority (49) Minority (212) Vacant (3) [REDACTED] [REDACTED] The United States Congress

3815-499: The dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar

3924-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on

4033-445: The second-wave feminism movement , when activists moved into electoral politics. Beginning in the 1970s, donors and political action committees like EMILY's List began recruiting, training and funding women candidates. Watershed political moments like the confirmation of Clarence Thomas and the 2016 presidential election created momentum for women candidates, resulting in the Year of

4142-479: The "biggest risk to the U.S. economy" because of its brinksmanship , "down-to-the-wire budget and debt crises" and "indiscriminate spending cuts", resulting in slowed economic activity and keeping up to two million people unemployed. There has been increasing public dissatisfaction with Congress, with extremely low approval ratings which dropped to 5% in October 2013. In 2009, Congress authorized another delegate for

4251-439: The 1960s opened the possibility for Black, Asian American, Latina and other non-white women candidates to run for Congress. Racially polarized voting, racial stereotypes and lack of institutional support still prevent women of color from reaching Congress as easily as white people . Senate elections, which require victories in statewide electorates, have been particularly difficult for women of color. Carol Moseley Braun became

4360-575: The 19th century, members of Congress are typically affiliated with one of the two major parties , the Democratic Party or the Republican Party , and only rarely with a third party or independents affiliated with no party. In the case of the latter, the lack of affiliation with a political party does not mean that such members are unable to caucus with members of the political parties. Members can also switch parties at any time, although this

4469-841: The 2002 Bipartisan Campaign Reform Act limited campaign donations but did not limit soft money contributions. One source suggests post-Watergate laws amended in 1974 meant to reduce the "influence of wealthy contributors and end payoffs" instead "legitimized PACs" since they "enabled individuals to band together in support of candidates". From 1974 to 1984, PACs grew from 608 to 3,803 and donations leaped from $ 12.5   million to $ 120   million along with concern over PAC influence in Congress. In 2009, there were 4,600 business, labor and special-interest PACs including ones for lawyers , electricians , and real estate brokers . From 2007 to 2008, 175 members of Congress received "half or more of their campaign cash" from PACs. From 1970 to 2009,

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4578-563: The American response as a "police action". According to Time magazine in 1970, "U.S. presidents [had] ordered troops into position or action without a formal congressional declaration a total of 149 times." In 1993, Michael Kinsley wrote that "Congress's war power has become the most flagrantly disregarded provision in the Constitution," and that the "real erosion [of Congress's war power] began after World War   II." Disagreement about

4687-655: The Buss family a total of $ 5 million including $ 200,000 in the first year, and $ 1 million in the second year. This tennis-related article is a stub . You can help Misplaced Pages by expanding it . This article about a sports team in California is a stub . You can help Misplaced Pages by expanding it . United States dollar This is an accepted version of this page The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as

4796-463: The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as the unit of account of the United States. "Dollar"

4905-458: The Constitution's Necessary and Proper Clause . Congress has authority over financial and budgetary policy through the enumerated power to "lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States". There is vast authority over budgets, although analyst Eric Patashnik suggested that much of Congress's power to manage

5014-571: The Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of the U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in

5123-594: The Government of the United States, or in any Department or Officer thereof". Article Four gives Congress the power to admit new states into the Union. One of Congress's foremost non-legislative functions is the power to investigate and oversee the executive branch. Congressional oversight is usually delegated to committees and is facilitated by Congress's subpoena power. Some critics have charged that Congress has in some instances failed to do an adequate job of overseeing

5232-536: The House expanded delegates, along with their powers and privileges representing U.S. citizens in non-state areas, beginning with representation on committees for Puerto Rico's resident commissioner in 1970. In 1971, a delegate for the District of Columbia was authorized, and in 1972 new delegate positions were established for U.S. Virgin Islands and Guam . In 1978, an additional delegate for American Samoa were added. In

5341-448: The House initiates revenue -raising bills. The House initiates impeachment cases, while the Senate decides impeachment cases. A two-thirds vote of the Senate is required before an impeached person can be removed from office. The term Congress can also refer to a particular meeting of the legislature. A Congress covers two years; the current one, the 118th Congress , began on January 3, 2023, and will end on January 3, 2025. Since

5450-477: The House of Representatives have equal legislative authority, although only the House may originate revenue and appropriation bills . Congress has an important role in national defense , including the exclusive power to declare war, to raise and maintain the armed forces , and to make rules for the military. Some critics charge that the executive branch has usurped Congress's constitutionally defined task of declaring war. While historically presidents initiated

5559-598: The Jeffersonian Republican Party and began the era of the First Party System . In 1800, Thomas Jefferson 's election to the presidency marked a peaceful transition of power between the parties. John Marshall , 4th chief justice of the Supreme Court , empowered the courts by establishing the principle of judicial review in law in the landmark case Marbury v. Madison in 1803, effectively giving

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5668-927: The Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of a dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of

5777-628: The Supreme Court a power to nullify congressional legislation. The Civil War , which lasted from 1861 to 1865, which resolved the slavery issue and unified the nation under federal authority but weakened the power of states' rights . The Gilded Age (1877–1901) was marked by Republican dominance of Congress. During this time, lobbying activity became more intense, particularly during the administration of President Ulysses S. Grant in which influential lobbies advocated for railroad subsidies and tariffs on wool. Immigration and high birth rates swelled

5886-530: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to

5995-837: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in

6104-485: The Uniform Congressional Redistricting Act requires that they be elected from single-member constituencies or districts . It is also required that the congressional districts be apportioned among states by population every ten years using the U.S. census results, provided that each state has at least one congressional representative. Each senator is elected at-large in their state for

6213-476: The United States , as President of the Senate, has a vote in the Senate only when there is a tie. The House of Representatives has six non-voting members . Congress convenes for a two-year term , commencing every other January. Elections are held every even-numbered year on Election Day . The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 established that there be 435 representatives, and

6322-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as

6431-625: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,

6540-402: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be

6649-538: The White House a little more in favor of the executive branch", according to one account. Past presidents, including Ronald Reagan , George H. W. Bush , Bill Clinton , and George W. Bush , have made public statements when signing congressional legislation about how they understand a bill or plan to execute it, and commentators, including the American Bar Association , have described this practice as against

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6758-500: The Whole votes, recent Congresses have not allowed for that, and they cannot vote when the House is meeting as the House of Representatives. On January 6, 2021, the Congress gathered to confirm the election of Joe Biden, when supporters of the outgoing president Donald Trump attacked the building . The session of Congress ended prematurely, and Congress representatives evacuated. Trump supporters occupied Congress until D.C police evacuated

6867-540: The Woman and the election of members of The Squad , respectively. Women of color faced additional challenges that made their ascension to Congress even more difficult. Jim Crow laws , voter suppression and other forms of structural racism made it virtually impossible for women of color to reach Congress prior to 1965. The passage of the Voting Rights Act that year , and the elimination of race-based immigration laws in

6976-535: The adoption of the Twentieth Amendment to the United States Constitution , the Congress has started and ended at noon on the third day of January of every odd-numbered year. Members of the Senate are referred to as senators; members of the House of Representatives are referred to as representatives, congressmen, or congresswomen. Scholar and representative Lee H. Hamilton asserted that the "historic mission of Congress has been to maintain freedom" and insisted it

7085-589: The area. The event was the first time since the Burning of Washington by the British during the War of 1812 that the United States Congress was forcefully occupied. Various social and structural barriers have prevented women from gaining seats in Congress. In the early 20th century, women's domestic roles and the inability to vote forestalled opportunities to run for and hold public office. The two party system and

7194-513: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains

7303-496: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,

7412-417: The budget has been lost when the welfare state expanded since "entitlements were institutionally detached from Congress's ordinary legislative routine and rhythm." Another factor leading to less control over the budget was a Keynesian belief that balanced budgets were unnecessary. The Sixteenth Amendment in 1913 extended congressional power of taxation to include income taxes without apportionment among

7521-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for

7630-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were

7739-607: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though

7848-588: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during

7957-426: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since

8066-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from

8175-586: The early years as political parties became pronounced. With the passage of the Constitution and the Bill of Rights , the anti-federalist movement was exhausted. Some activists joined the Anti-Administration Party that James Madison and Thomas Jefferson were forming about 1790–1791 to oppose policies of Treasury Secretary Alexander Hamilton ; it soon became the Democratic-Republican Party or

8284-475: The electorate. Lame duck reforms according to the Twentieth Amendment reduced the power of defeated and retiring members of Congress to wield influence despite their lack of accountability. The Great Depression ushered in President Franklin Roosevelt and strong control by Democrats and historic New Deal policies. Roosevelt 's election in 1932 marked a shift in government power towards

8393-425: The exclusive power of removal , allowing impeachment and removal of the president, federal judges and other federal officers. There have been charges that presidents acting under the doctrine of the unitary executive have assumed important legislative and budgetary powers that should belong to Congress. So-called signing statements are one way in which a president can "tip the balance of power between Congress and

8502-577: The executive branch. Numerous New Deal initiatives came from the White House rather initiated by Congress. President Roosevelt pushed his agenda in Congress by detailing Executive Branch staff to friendly Senate committees (a practice that ended with the Legislative Reorganization Act of 1946). The Democratic Party controlled both houses of Congress for many years. During this time, Republicans and conservative southern Democrats formed

8611-463: The extent of congressional versus presidential power regarding war has been present periodically throughout the nation's history. Congress can establish post offices and post roads, issue patents and copyrights , fix standards of weights and measures, establish Courts inferior to the Supreme Court , and "make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in

8720-551: The fear of communism during the Second Red Scare and conducted televised hearings. In 1960, Democratic candidate John F. Kennedy narrowly won the presidency and power shifted again to the Democrats who dominated both chambers of Congress from 1961 to 1980, and retained a consistent majority in the House from 1955 to 1994. Congress enacted Johnson's Great Society program to fight poverty and hunger. The Watergate Scandal had

8829-412: The first woman of color to reach the Senate in 1993. The second, Mazie Hirono , won in 2013. In 2021, Kamala Harris became the first female President of the Senate , which came with her role as the first female Vice President of the United States . Article One of the Constitution creates and sets forth the structure and most of the powers of Congress. Sections One through Six describe how Congress

8938-402: The internal structure of Congress is important to understand along with its interactions with so-called intermediary institutions such as political parties , civic associations , interest groups , and the mass media . The Congress of the United States serves two distinct purposes that overlap: local representation to the federal government of a congressional district by representatives and

9047-486: The lack of term limits favored incumbent white men, making the widow's succession – in which a woman temporarily took over a seat vacated by the death of her husband – the most common path to Congress for white women. Women candidates began making substantial inroads in the later 20th century, due in part to new political support mechanisms and public awareness of their underrepresentation in Congress. Recruitment and financial support for women candidates were rare until

9156-430: The late 20th century, the media became more important in Congress's work. Analyst Michael Schudson suggested that greater publicity undermined the power of political parties and caused "more roads to open up in Congress for individual representatives to influence decisions". Norman Ornstein suggested that media prominence led to a greater emphasis on the negative and sensational side of Congress, and referred to this as

9265-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre

9374-488: The law. Generally militia forces are controlled by state governments, not Congress. Congress also has implied powers deriving from the Constitution's Necessary and Proper Clause which permit Congress to "make all laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof". Broad interpretations of this clause and of

9483-441: The legislature since there were two separate chambers. The new government became active in 1789. Political scientist Julian E. Zelizer suggested there were four main congressional eras, with considerable overlap, and included the formative era (1780s–1820s), the partisan era (1830s–1900s), the committee era (1910s–1960s), and the contemporary era (1970–present). Federalists and anti-federalists jostled for power in

9592-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for

9701-512: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation

9810-580: The other branches of government. In the Plame affair , critics including Representative Henry A. Waxman charged that Congress was not doing an adequate job of oversight in this case. There have been concerns about congressional oversight of executive actions such as warrantless wiretapping , although others respond that Congress did investigate the legality of presidential decisions. Political scientists Ornstein and Mann suggested that oversight functions do not help members of Congress win reelection. Congress also has

9919-546: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,

10028-529: The process for going to war, they asked for and received formal war declarations from Congress for the War of 1812 , the Mexican–American War , the Spanish–American War , World War I , and World War II , although President Theodore Roosevelt 's military move into Panama in 1903 did not get congressional approval. In the early days after the North Korean invasion of 1950 , President Truman described

10137-703: The ranks of citizens and the nation grew at a rapid pace. The Progressive Era was characterized by strong party leadership in both houses of Congress and calls for reform; sometimes reformers said lobbyists corrupted politics. The position of Speaker of the House became extremely powerful under leaders such as Thomas Reed in 1890 and Joseph Gurney Cannon . By the beginning of the 20th century, party structures and leadership emerged as key organizers of Senate proceedings. A system of seniority, in which long-time members of Congress gained more and more power, encouraged politicians of both parties to seek long terms. Committee chairmen remained influential in both houses until

10246-495: The reforms of the 1970s. Important structural changes included the direct popular election of senators according to the Seventeenth Amendment , ratified on April 8, 1913. Supreme Court decisions based on the Constitution's commerce clause expanded congressional power to regulate the economy. One effect of popular election of senators was to reduce the difference between the House and Senate in terms of their link to

10355-478: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,

10464-559: The section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of the United States dollar . Article I, Section 9 of

10573-413: The several States, and without regard to any census or enumeration. The Constitution also grants Congress the exclusive power to appropriate funds, and this power of the purse is one of Congress's primary checks on the executive branch. Congress can borrow money on the credit of the United States, regulate commerce with foreign nations and among the states, and coin money. Generally, the Senate and

10682-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to

10791-429: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to

10900-731: The spirit of the Constitution. There have been concerns that presidential authority to cope with financial crises is eclipsing the power of Congress. In 2008, George F. Will called the Capitol building a "tomb for the antiquated idea that the legislative branch matters". The Constitution enumerates the powers of Congress in detail. In addition, other congressional powers have been granted, or confirmed, by constitutional amendments. The Thirteenth (1865), Fourteenth (1868), and Fifteenth Amendments (1870) gave Congress authority to enact legislation to enforce rights of African Americans, including voting rights , due process , and equal protection under

11009-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for

11118-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by

11227-477: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of

11336-535: Was a "driving force in American government" and a "remarkably resilient institution". Congress is the "heart and soul of our democracy", according to this view, even though legislators rarely achieve the prestige or name recognition of presidents or Supreme Court justices ; one wrote that "legislators remain ghosts in America's historical imagination." One analyst argues that it is not a solely reactive institution but has played an active role in shaping government policy and

11445-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on

11554-461: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though

11663-737: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in

11772-461: Was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after

11881-639: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before

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