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- Save_the_Greenback_Act abstract "The Save the Greenback Act was legislation proposed, but not passed, in the United States Congress in 1995 and 1997 forbidding the phase-out of the United States one-dollar bill.It stated simply, "Notwithstanding any other provision of law, the Secretary of the Treasury and the Board of Governors of the Federal Reserve System shall take such action as may be necessary to ensure that the number of Federal reserve notes in the denomination of $1 which are in circulation at any time does not decrease below the number of such reserve notes in circulation as of the date of the enactment of this Act."In a February 24, 1995 speech introducing the Save the Greenback Act, Rep. Thomas M. Davis gave several arguments against phasing out the one-dollar bill:A great number of people's "pockets will be weighted down with heavy change instead of having a few bills tucked into their billfolds . . . one might suspect a conspiracy by clothing manufacturers in drafting the dollar coin proposal, as everyone's pockets begin to wear out."Several polls have shown that Americans prefer the one-dollar bill to a dollar coin."[L]egislation designed to eliminate the dollar bill will an excuse by the special interests to raise prices on everyday items--a future sales tax, to be levied on all Americans but falling the hardest on those who can least afford it."The failure of the Susan B. Anthony dollar demonstrated that introduction of a dollar coin does not save the federal government money."The costs of changing to a 1 dollar coin would be significant to many in the private sector including but not limited to the small town banks which would have to retool their coin counting, wrapping and sorting equipment--costs which would inevitably be passed on to their customers."Notwithstanding these arguments, many people contend that $1 is far too low a denomination for a paper note at today's price levels and point to the example of virtually every other developed country, whose lowest-denomination banknotes are worth several times more. Most vending machines, for example, need to install dollar bill readers because their commodities have become more expensive due to inflation, a problem compounded by the bills' often being crumpled, torn, or otherwise unreadable.Furthermore, the continuation of the dollar bill discourages any meaningful reform of the coinage, as people would be slow to use any dollar coin with the dollar bill still around simply out of habit, as proven with the Sacagawea dollar. Lastly, other countries, including the entire Eurozone, Japan, Australia, Canada, New Zealand, and the United Kingdom, have successfully made similar transitions.For comparison, here are the lowest-denomination banknotes of some other developed countries (with equivalent U.S. dollar value in exchange, as of August 23, 2015): Australian dollar: A$5 (US$3.65) British pound: £5 (US$7.84), £1 (US$ 1.57) in Scotland only Canadian dollar: C$5 (US$3.79) Euro: €5 (US$5.69) Hong Kong Dollar: HK$10 (US$1.29) Japanese yen: ¥1,000 (US$8.19) New Zealand dollar: NZ$5 (US$3.34) Swedish krona: 20 kr (US$2.39) Swiss franc: SFr10 (US$10.57) Singapore dollar: S$2 (US$1.41)In contrast, poorer countries with weaker currencies, such as Argentina or Ukraine, often have low-valued bills because of inflation having eroded their value.".
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- Save_the_Greenback_Act wikiPageWikiLink Category:Banknotes_of_the_United_States.
- Save_the_Greenback_Act wikiPageWikiLink Category:United_States_federal_currency_legislation.
- Save_the_Greenback_Act wikiPageWikiLink Category:United_States_proposed_federal_legislation.
- Save_the_Greenback_Act wikiPageWikiLink Coin_Coalition.
- Save_the_Greenback_Act wikiPageWikiLink Dollar_(United_States_coin).
- Save_the_Greenback_Act wikiPageWikiLink Dollar_coin_(United_States).
- Save_the_Greenback_Act wikiPageWikiLink Efforts_to_eliminate_the_penny_in_the_United_States.
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- Save_the_Greenback_Act wikiPageWikiLink Habituation.
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- Save_the_Greenback_Act wikiPageWikiLink Japan.
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- Save_the_Greenback_Act wikiPageWikiLink New_Zealand.
- Save_the_Greenback_Act wikiPageWikiLink New_Zealand_dollar.
- Save_the_Greenback_Act wikiPageWikiLink Penny_debate_in_the_United_States.
- Save_the_Greenback_Act wikiPageWikiLink Pound_sterling.
- Save_the_Greenback_Act wikiPageWikiLink Sacagawea_dollar.
- Save_the_Greenback_Act wikiPageWikiLink Save_the_Greenback.
- Save_the_Greenback_Act wikiPageWikiLink Secretary_of_the_Treasury.
- Save_the_Greenback_Act wikiPageWikiLink Singapore_dollar.
- Save_the_Greenback_Act wikiPageWikiLink Susan_B._Anthony_dollar.
- Save_the_Greenback_Act wikiPageWikiLink Swedish_krona.
- Save_the_Greenback_Act wikiPageWikiLink Swiss_franc.
- Save_the_Greenback_Act wikiPageWikiLink Thomas_M._Davis.
- Save_the_Greenback_Act wikiPageWikiLink Ukraine.
- Save_the_Greenback_Act wikiPageWikiLink United_Kingdom.
- Save_the_Greenback_Act wikiPageWikiLink United_States_$1_Coin_Act_of_1997.
- Save_the_Greenback_Act wikiPageWikiLink United_States_Congress.
- Save_the_Greenback_Act wikiPageWikiLink United_States_Secretary_of_the_Treasury.
- Save_the_Greenback_Act wikiPageWikiLink United_States_dollar_coin.
- Save_the_Greenback_Act wikiPageWikiLink United_States_one-dollar_bill.
- Save_the_Greenback_Act wikiPageWikiLink Vending_machine.
- Save_the_Greenback_Act wikiPageWikiLinkText "Save the Greenback Act".
- Save_the_Greenback_Act hasPhotoCollection Save_the_Greenback_Act.
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- Save_the_Greenback_Act wikiPageUsesTemplate Template:Reflist.
- Save_the_Greenback_Act subject Category:Banknotes_of_the_United_States.
- Save_the_Greenback_Act subject Category:United_States_federal_currency_legislation.
- Save_the_Greenback_Act subject Category:United_States_proposed_federal_legislation.
- Save_the_Greenback_Act hypernym Legislation.
- Save_the_Greenback_Act type Article.
- Save_the_Greenback_Act type Bird.
- Save_the_Greenback_Act type Article.
- Save_the_Greenback_Act comment "The Save the Greenback Act was legislation proposed, but not passed, in the United States Congress in 1995 and 1997 forbidding the phase-out of the United States one-dollar bill.It stated simply, "Notwithstanding any other provision of law, the Secretary of the Treasury and the Board of Governors of the Federal Reserve System shall take such action as may be necessary to ensure that the number of Federal reserve notes in the denomination of $1 which are in circulation at any time does not decrease below the number of such reserve notes in circulation as of the date of the enactment of this Act."In a February 24, 1995 speech introducing the Save the Greenback Act, Rep. ".
- Save_the_Greenback_Act label "Save the Greenback Act".
- Save_the_Greenback_Act sameAs m.07w9p2.
- Save_the_Greenback_Act sameAs Save_the_Greenback_Act.
- Save_the_Greenback_Act sameAs Q7428105.
- Save_the_Greenback_Act sameAs Q7428105.
- Save_the_Greenback_Act wasDerivedFrom Save_the_Greenback_Act?oldid=677444507.
- Save_the_Greenback_Act isPrimaryTopicOf Save_the_Greenback_Act.