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Dollar declined while ‘under God’

Robert R. Piper Berkeley
Tuesday July 02, 2002

To the Editor: 

Steve Geller (in a letter) writes, “The label, ‘in God we trust’ doesn't harm our money.” 

Until 1957, dollar bills bore no reference to God. They were silver certificates. Each bore a promise that the bearer could exchange it for silver. A new Chevrolet sedan cost $2,100. 

Silver certificates were replaced by Federal Reserve notes. Under the new standard, bearers were advised, “In God we trust.” 

Since then, the dollar has plummeted in purchasing power. A comparable new Chevrolet to day costs $21,000. 



Robert R. Piper