United States dollar or ""bill"" (e.g. ""two bills"" being $200). The $50 note is occasionally called a ""yardstick"" or a ""grant"" (after President Ulysses S. Grant, pictured on the obverse). The $20 note is referred to as a ""double sawbuck"", ""Jackson"" (after Andrew Jackson), or "double eagle". The $10 note is referred to as a ""sawbuck"", ""ten-spot"" or ""Hamilton"" (after Alexander Hamilton). The $5 note as ""Lincoln"", ""fin"", ""fiver"" or ""five-spot"". The infrequently-used $2 note is sometimes called ""deuce"", ""Tom"", or ""Jefferson"" (after Thomas Jefferson). The $1 note as a ""single"" or ""buck"". The dollar has also been referred to as a ""bone""
Banknote a free market, as opposed to stemming from any intrinsic property of the metal. By the late 17th century, this new conceptual outlook helped to stimulate the issue of banknotes. The economist Nicholas Barbon wrote that money "was an imaginary value made by a law for the convenience of exchange." A temporary experiment of banknote issue was carried out by Sir William Phips as the Governor of the Province of Massachusetts Bay in 1690 to help fund the war effort against France. The first bank to initiate the permanent issue of banknotes was the Bank of England. Established in 1694