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John F. Kennedy issued Executive Order No. 11110, directing the Treasury to produce $4 billion

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First published at 18:45 UTC on April 23rd, 2024.

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On June 4, 1963, President John F. Kennedy issued Executive Order No. 11110, directing the Treasury to produce $4 billion worth of $2 and $5 bills.

The bills, supported by silver reserves stored in the Treasury's vaults, were issued without d…

On June 4, 1963, President John F. Kennedy issued Executive Order No. 11110, directing the Treasury to produce $4 billion worth of $2 and $5 bills.

The bills, supported by silver reserves stored in the Treasury's vaults, were issued without debt or interest. The seigniorage, or profit from coinage, went directly to the US government rather than to the privately owned US Federal Reserve Bank.

This issuance of notes was part of Kennedy's broader strategy to diminish the influence of the US Federal Reserve Bank.

On November 22, 1963, President Kennedy was assassinated in Dallas, Texas.

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Category	News & Politics
Sensitivity	Normal - Content that is suitable for ages 16 and over

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John F. Kennedy issued Executive Order No. 11110, directing the Treasury to produce $4 billion

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