WEBVTT - 9 Things Hiding on your Money

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<v Speaker 1>I guess what, mango, what's that? Well, so you may

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<v Speaker 1>have heard this before, but did you know there's actually

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<v Speaker 1>a law that states that only dead people can appear

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<v Speaker 1>on us currency. You know, I had heard that before.

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<v Speaker 1>But what's funny. It's like, why did that become a law?

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<v Speaker 1>Like why was that important enough to put into writing?

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<v Speaker 1>It really is, it's it's weird, and I was wondering

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<v Speaker 1>the same thing. So I decided to look back at this,

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<v Speaker 1>and I'm glad that I did because it's it's kind

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<v Speaker 1>of a weird and fun story. But it goes back

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<v Speaker 1>to this superintendent of the National Currency Bureau and was

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<v Speaker 1>a guy named Spencer Clark, and this was back in

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<v Speaker 1>eighteen sixty six, so a long time ago, and he

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<v Speaker 1>oversaw the creation of what we're called fractional bills. And

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<v Speaker 1>I didn't remember a whole lot about these, but these

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<v Speaker 1>were bills that were not as big as regular ones.

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<v Speaker 1>They were five cent, ten cent cent, and these other denominations.

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<v Speaker 1>But they were actually made because the nation was dealing

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<v Speaker 1>with a coin shortage. This was just after the Civil War,

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<v Speaker 1>and so Congress had asked the Bureau to make a

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<v Speaker 1>new fractional bill in honor of William Clark. Now this

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<v Speaker 1>is the Clark from Lewis and Clark fame. But the

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<v Speaker 1>document that was passed along to Spencer Clark only said Clark.

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<v Speaker 1>Now you may notice that he had the same last name.

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<v Speaker 1>So as a joke, Spencer Clark decided to interpret that

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<v Speaker 1>as being about himself, and so he actually had the

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<v Speaker 1>five cent bill made with his own mug on it.

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<v Speaker 1>This is not a joke, he really did. Fancy. That's

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<v Speaker 1>pretty gutsy, huh. How did this joke go over? Well?

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<v Speaker 1>About as well as you could imagine. Congress was not

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<v Speaker 1>at all pleased. So Congressman Russell Thayer successfully pushed to

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<v Speaker 1>have a law passed that stated that hereafter, no portrait

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<v Speaker 1>or likeness of any living person should be engraved or

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<v Speaker 1>placed on any bonds, securities, notes, or postal currency of

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<v Speaker 1>the United States. So that is why only dead people

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<v Speaker 1>can appear on money for now, because of a prank.

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<v Speaker 1>I kind of love that I do too. And you know,

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<v Speaker 1>that's really just one of many fun facts about the

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<v Speaker 1>things that we see on our money. And that's exactly

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<v Speaker 1>what we're talking about today. So let's dive in. M

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<v Speaker 1>Aither podcast listeners. Welcome to part time genius. I'm Will

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<v Speaker 1>Pearson and it's always I'm joined by my good friend

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<v Speaker 1>Mangesh Ticketer and on the other side of the soundproof

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<v Speaker 1>class showing off one of the world's weirdest piggy banks.

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<v Speaker 1>It's this green pig and for some reason, it says

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<v Speaker 1>Dill Pickle on it. I don't really, I don't get it. Yeah,

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<v Speaker 1>I don't get it either, And and apparently he isn't

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<v Speaker 1>alone in this. Like you can actually buy these on eBay.

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<v Speaker 1>They're marketed as the perfect piggy banks for foodies for

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<v Speaker 1>some reason. That's a that's another weird one from our

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<v Speaker 1>friends and producer Tristan McNeil. So, Mango, are you ready

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<v Speaker 1>to talk money? I am. I was thinking about money

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<v Speaker 1>this week, and I immediately started thinking about Alex p.

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<v Speaker 1>Keaton from Family Ties him of course more than like

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<v Speaker 1>Scrooge mcdock or Ritchie Rich or Gordon Gecko from Wall Street, Like,

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<v Speaker 1>this is the character I associate with money. And it's

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<v Speaker 1>all because of one scene that somehow like stuck in

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<v Speaker 1>my head. It's uh. He was talking about how much

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<v Speaker 1>he loved money, and some other character would throw a

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<v Speaker 1>coin into a jar and he just identified it by

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<v Speaker 1>the sound, so he'd be like nickel Quarter doing an

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<v Speaker 1>episode on money made me think of that, plus saying

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<v Speaker 1>Kristen's dill pickle bank. Anyway, I do you want to

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<v Speaker 1>pick up where you left off? And that's what people

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<v Speaker 1>we find on our dollar bills and specifically presidents. To me,

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<v Speaker 1>it's pretty interesting that the earliest coins and bills didn't

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<v Speaker 1>actually have any presidents on them, and that was partially

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<v Speaker 1>because of George Washington and who he was. He made

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<v Speaker 1>it clear he didn't want his image on any currency,

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<v Speaker 1>despite other people pushing for it, and this actually made

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<v Speaker 1>sense because the US had obviously been rebelling against the

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<v Speaker 1>country that liked putting their heads estates on their money,

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<v Speaker 1>and instead the founding fathers decided to use imagery that

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<v Speaker 1>they felt symbolized the type of government that they were

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<v Speaker 1>aiming to build. So they use things like an American

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<v Speaker 1>eagle on one side and then a Goddess of Liberty

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<v Speaker 1>on the other, which is super interesting because you know,

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<v Speaker 1>while men and mostly white men are on phases of

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<v Speaker 1>money right now, like at one point, women were better

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<v Speaker 1>represented on some of our earliest currencies. So so when

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<v Speaker 1>exactly did presidents start appearing on our money. Um, if

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<v Speaker 1>I tell you this does account as one of my facts,

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<v Speaker 1>you know, it's interesting. I'm looking over Tristan and he

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<v Speaker 1>is nodding pretty aggressively, and he sets the rules around here,

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<v Speaker 1>so I guess it has to but I feel like

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<v Speaker 1>it's worth sharing anyway. So the first president didn't appear

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<v Speaker 1>on US currency until nine nine, and that's a hundred

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<v Speaker 1>and thirty three years after the country was created, and

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<v Speaker 1>right around a hundred years after Lincoln was born. And

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<v Speaker 1>that's actually how it all got started. So Teddy Roosevelt

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<v Speaker 1>was president at the time, and he wanted to find

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<v Speaker 1>a way to celebrate that anniversary. He actually always a

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<v Speaker 1>close connection to Lincoln. I don't know if you remember this,

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<v Speaker 1>but he had attended Lincoln's funeral procession as it moved

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<v Speaker 1>through New York City when he was a boy. I

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<v Speaker 1>think he's six years old at the time. When he

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<v Speaker 1>became president, he wore a ring that had strands of

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<v Speaker 1>Lincoln's hair in it. So when he actually had the

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<v Speaker 1>power to do so, he had a series of commemorative

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<v Speaker 1>pennies made in Lincoln's honor, twenty two million of them

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<v Speaker 1>in fact, and then Reckon public seemed to like them

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<v Speaker 1>so much that they just stuck around and everyone kept

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<v Speaker 1>making them, and so that's what what started it all.

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<v Speaker 1>And and presidents just started showing up left and right

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<v Speaker 1>on these coins or what you know. Surprisingly, it wasn't

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<v Speaker 1>the floodgate you might imagine. It was actually another twenty

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<v Speaker 1>three years before another president appeared, and that was Washington

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<v Speaker 1>on a commemorative quarter in ninety two, which of course

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<v Speaker 1>was also a big hit. So the men just kept

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<v Speaker 1>making them. That's interesting, all right, Well, I want to

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<v Speaker 1>talk for a minute about the ridges on our coins,

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<v Speaker 1>you know, the ones along the kind of the edge

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<v Speaker 1>of the coin. And I think most of us have

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<v Speaker 1>heard that they're there to help prevent counterfeiting, and you know,

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<v Speaker 1>because it makes it that much more detailed than hard

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<v Speaker 1>to reproduce. But there's actually a slightly different origin to

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<v Speaker 1>these ridges that I've I've never heard about. So in

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<v Speaker 1>the earliest days, the US meant coins were actually made

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<v Speaker 1>of their actual value in gold or silver or whatever

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<v Speaker 1>precious metal. And so that meant that a five dollar

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<v Speaker 1>coin was actually made of five dollars in gold. The

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<v Speaker 1>problem was that this metal was so valuable that people

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<v Speaker 1>started just kind of filing it down, you know, on

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<v Speaker 1>the smooth edges of these coins, and then they would

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<v Speaker 1>sell off the shavings, and this became known as clipping,

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<v Speaker 1>and so those who were really good at this could

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<v Speaker 1>actually shave off just enough where people wouldn't notice, and

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<v Speaker 1>then they could still use those coins. But that became

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<v Speaker 1>much harder to pull off as the ridges were put

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<v Speaker 1>into place, because you know, if somebody shaved off any coin,

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<v Speaker 1>it would no longer have those ridges. And so you know,

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<v Speaker 1>even though those coins are no longer made of these

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<v Speaker 1>same precious metals, some still have these ridges. And it

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<v Speaker 1>actually turns out that preventing counterfeiting isn't the only reason

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<v Speaker 1>for that. Is it just tradition then, mean, that's definitely

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<v Speaker 1>one reason, because it was something that was put in

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<v Speaker 1>place a long time ago. But one of the others

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<v Speaker 1>is that it's actually another helpful way for the visually

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<v Speaker 1>impaired to tell what coin they're holding, because some coins

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<v Speaker 1>have the ridges and others don't, So, for example, you know,

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<v Speaker 1>dimes have reads, pennies don't, so it you know, it

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<v Speaker 1>makes a lot of sense when you think about it,

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<v Speaker 1>all right, Mango, So what do you want to talk

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<v Speaker 1>about next, Well, I do feel like we have to

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<v Speaker 1>address the fact that pretty much every bill we get

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<v Speaker 1>our hands on is disgusting, and so we do we

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<v Speaker 1>have to address this. So there's this one two reports

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<v Speaker 1>in the Southern Medical Journal, and it showed that more

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<v Speaker 1>than of bills tested have some form of harmful pathogen

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<v Speaker 1>on them, So we're talking about stuff like Staphylococcus uh

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<v Speaker 1>and other gross things. And the same study actually showed

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<v Speaker 1>that most bills have at least trace amounts of fecal

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<v Speaker 1>matter on them, which is also wonderful. I'm never using

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<v Speaker 1>anything but a credit card ever. Again, it feels like

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<v Speaker 1>it would be wise to like wash your hands after

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<v Speaker 1>using dollar bills. But that's not all it's it's wild

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<v Speaker 1>that one study back in the late nineties found that

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<v Speaker 1>somewhere around eighty percent of bills in circulation had trace

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<v Speaker 1>amounts of cocaine on them. Oh, that is wild. So

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<v Speaker 1>of like all bills they have this on that's so

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<v Speaker 1>disgusting it is, But you know, it's definitely more some

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<v Speaker 1>types of bills than others that it turns out if

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<v Speaker 1>you really want to avoid a hint of cocaine on

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<v Speaker 1>your bills, it's best to use ones and fives over

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<v Speaker 1>tens and twenties. Okay, well, that's something I'll keep in mind.

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<v Speaker 1>All well, here's something I hadn't paid much attention to.

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<v Speaker 1>But have you seen the spiky circle that's on the

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<v Speaker 1>right side of Washington on the one dollar bill. Yeah,

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<v Speaker 1>so this is actually the seal of the Treasury, and

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<v Speaker 1>it's one part of the dollar bill that has actually

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<v Speaker 1>had to change a little bit over the years because

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<v Speaker 1>the number of spikes is intended to match the number

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<v Speaker 1>of states in the Union. So they are now, of

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<v Speaker 1>course fifty there. But this is definitely not the number

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<v Speaker 1>you find most represented on our bills. So have you

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<v Speaker 1>noticed that there is a bit of an obsession with

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<v Speaker 1>the number thirteen? So the shield and the Treasury seal

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<v Speaker 1>that I just mentioned has thirteen stars to represent the

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<v Speaker 1>thirteen original colonies, but there are so many more reminders

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<v Speaker 1>that we have these thirteen original colonies. They're thirteen stars

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<v Speaker 1>above the eagles head, thirteen stripes on the shield in

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<v Speaker 1>front of the eagle, thirteen arrows in one of the

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<v Speaker 1>eagles talents, thirteen leaves with thirteen olive branches, and something

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<v Speaker 1>I had not heard before, and that's the fact that

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<v Speaker 1>there are thirteen letters in e pluribus unum. That is strange.

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<v Speaker 1>You know, as soon as you said the number thirteen,

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<v Speaker 1>I wasn't thinking thirteen colonies. I was just thinking like

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<v Speaker 1>how unlucky the number thirteen is. And it is funny

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<v Speaker 1>that it's just like blasted all over our bills. That's crazy.

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<v Speaker 1>So here's a weird one. We all know. Andrew Jackson

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<v Speaker 1>is on the twenty dollar bill. There's been all this

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<v Speaker 1>hubbub whether he should be there, like or whether we

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<v Speaker 1>can take him off. I know we've talked about replacing

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<v Speaker 1>him with Harriet Tubman recently, um or someone just less

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<v Speaker 1>horrible than he is. But there's this weird thing about

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<v Speaker 1>having Jackson on the bill, and also that people are

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<v Speaker 1>fighting to keep him there. And it's that Jackson didn't

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<v Speaker 1>believe in paper money, Like yeah, he actually used his

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<v Speaker 1>farewell addressed as president to blast the idea of paper currency,

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<v Speaker 1>claiming it had no intrinsic value and that it would

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<v Speaker 1>quote render property insecure and wages unsteady and uncertain. So,

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<v Speaker 1>you know, having him on the twenties almost like having

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<v Speaker 1>Richard Nixon on your soup labels, which I know it's

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<v Speaker 1>a weird reference, but he didn't believe in soup, and

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<v Speaker 1>he had a band from the White House. I wasn't

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<v Speaker 1>expecting it to bring soup into this. But all right,

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<v Speaker 1>well we've each got one more fact to share. But

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<v Speaker 1>before we get to those, let's take a quick break.

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<v Speaker 1>Welcome back, part time genius. We were talking about things

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<v Speaker 1>we find on our money. So far, we found cocaine,

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<v Speaker 1>We found the number of thirteen a lot. But I

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<v Speaker 1>know during the break you mentioned that you had a

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<v Speaker 1>fact about that Latin motto e pluribus unum, which I

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<v Speaker 1>think we all learned in school means out of many one.

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<v Speaker 1>But uh, that wasn't your last fact, was it. Well, no, mago,

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<v Speaker 1>come on, I got better stuff than that. But all right,

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<v Speaker 1>this is just one more reference to the original thirteen colonies,

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<v Speaker 1>as we mentioned. But what I found funny was that

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<v Speaker 1>the founding fathers may have actually borrowed this phrase from

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<v Speaker 1>a popular magazine. It wasn't something that they actually came

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<v Speaker 1>up with themselves. So there was this British periodical that

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<v Speaker 1>started back in seventeen thirty two and it ran for

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<v Speaker 1>nearly two centuries, and it was called Gentleman's Magazine and

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<v Speaker 1>it's it's not as dirty as it sounds. Anyway, on

0:11:51.080 --> 0:11:54.959
<v Speaker 1>every issue was this phrase e pluribus unum. But in

0:11:55.000 --> 0:11:57.360
<v Speaker 1>this case this was actually referring to the fact that

0:11:57.480 --> 0:12:01.120
<v Speaker 1>so many articles were coming from so many differ prints sources,

0:12:01.160 --> 0:12:04.520
<v Speaker 1>but all brought together into one publication. So it kind

0:12:04.520 --> 0:12:06.880
<v Speaker 1>of makes sense why they would say this. So as

0:12:06.920 --> 0:12:10.880
<v Speaker 1>Gentlemen's Magazine started gaining popularity in the colonies, it seems

0:12:11.000 --> 0:12:14.080
<v Speaker 1>very possible that they were actually inspired by this phrase,

0:12:14.120 --> 0:12:17.600
<v Speaker 1>and so that maybe where it came from. Anyway. All right, Mago,

0:12:17.720 --> 0:12:20.160
<v Speaker 1>So what is your last fact of the day. Well,

0:12:20.240 --> 0:12:24.000
<v Speaker 1>I like that you spotted plagiarism basically on our bellar bills.

0:12:24.160 --> 0:12:26.760
<v Speaker 1>That's pretty amazing. So I think I'm gonna end with

0:12:26.760 --> 0:12:29.120
<v Speaker 1>the fact about the two signatures you see on every

0:12:29.120 --> 0:12:31.600
<v Speaker 1>print bill here in the US. One is from the

0:12:31.640 --> 0:12:34.440
<v Speaker 1>Treasure of the United States and one's from the Secretary

0:12:34.480 --> 0:12:38.160
<v Speaker 1>of the Treasury. Wait, so that those aren't the same thing. No,

0:12:38.360 --> 0:12:41.720
<v Speaker 1>So the Treasure actually advises the Secretary about various currency,

0:12:41.840 --> 0:12:44.559
<v Speaker 1>but it's the Secretary that makes the final calls. And

0:12:44.840 --> 0:12:48.200
<v Speaker 1>the current Secretary of the Treasury is Steve Munusan. He's

0:12:48.200 --> 0:12:51.000
<v Speaker 1>actually the seventy seven person to hold his title, and

0:12:51.160 --> 0:12:54.240
<v Speaker 1>every one of them has been a man. But this

0:12:54.320 --> 0:12:57.679
<v Speaker 1>is the more interesting part. The current treasure is Jovita

0:12:57.800 --> 0:13:01.360
<v Speaker 1>Carranza or Jovita Corenza. I might be pronouncing that wrong,

0:13:01.400 --> 0:13:04.760
<v Speaker 1>but she's actually the forty four person in this position,

0:13:04.880 --> 0:13:07.560
<v Speaker 1>and it's actually only been held by women for the

0:13:07.559 --> 0:13:11.120
<v Speaker 1>past seven decades, dating back to Harry Truman appointing the

0:13:11.120 --> 0:13:14.160
<v Speaker 1>first female in this role. That's so weird. So only

0:13:14.200 --> 0:13:16.640
<v Speaker 1>men in one role and only women for the past

0:13:16.679 --> 0:13:19.679
<v Speaker 1>seven decades. It feels like just another reminder of how

0:13:19.800 --> 0:13:23.880
<v Speaker 1>weird people are about gender stuff, isn't it. Yeah. In fact,

0:13:24.200 --> 0:13:26.960
<v Speaker 1>Jennifer Lawless, who's the director of the Women in Politics

0:13:26.960 --> 0:13:29.839
<v Speaker 1>and Student at American University, she actually said this about

0:13:29.840 --> 0:13:33.120
<v Speaker 1>it quote. Once there's a woman appointed in a position,

0:13:33.360 --> 0:13:35.840
<v Speaker 1>it's easy to assume that position is one that could

0:13:35.840 --> 0:13:39.080
<v Speaker 1>be filled by a woman. Once an initial ceiling is broken,

0:13:39.240 --> 0:13:41.800
<v Speaker 1>once an initial piece of progress is made, there's a

0:13:41.800 --> 0:13:44.840
<v Speaker 1>tendency to continue down that path. All right, Well, here's

0:13:44.840 --> 0:13:47.560
<v Speaker 1>to a woman holding the position of Secretary of Treasury

0:13:47.559 --> 0:13:50.280
<v Speaker 1>at some point in the not too distant future, And

0:13:50.320 --> 0:13:52.280
<v Speaker 1>I feel like may go for that little reminder of

0:13:52.320 --> 0:13:54.719
<v Speaker 1>just how weird people are. I feel like I need

0:13:54.720 --> 0:13:57.880
<v Speaker 1>to give you today's trophy. Well, I will take it

0:13:57.880 --> 0:13:59.439
<v Speaker 1>because I feel like I haven't earned a trophy in

0:13:59.440 --> 0:14:03.600
<v Speaker 1>a little bit. It from Tristan gave will Amy. Thank

0:14:03.640 --> 0:14:17.400
<v Speaker 1>you so much for listening. M