This archive report was first published on 13 December 2019.
December 13, 2019, marked a significant day in the history of the American dollar, but its connection to Kenya's Rift Valley may come as a surprise. The story begins with the word 'dollar' itself, which originates from an ancient Teutonic word meaning 'valley.'
As Philip Ochieng notes in his article, the dollar's linguistic roots are tied to the German word 'thal' or 'tal', which means 'valley.' This is evident in the name of the 16th-century silver mine in Germany's Joachimsthal, which was later shortened to 'Joachimsthaler' and eventually became the modern 'dollar.'
The connection to Kenya's Rift Valley, however, is more tenuous. According to Ochieng, much of the American dollar currency has been reported to have gone into the Rift Valley to help rehabilitate displaced people. While this may seem like a significant influx of foreign currency, it is worth noting that the dollar's origins are firmly rooted in European history, not African.
As Ochieng delves deeper into the history of the dollar, he reveals a fascinating tale of language and cultural exchange. The word 'dollar' has its roots in the German language, and its evolution is closely tied to the migration of German immigrants to Pennsylvania in the 18th century. It was in this region that the sound 'th' in 'thaler' was hardened into the sound 'd' to transform 'thaler' into 'daler,' which eventually became the modern 'dollar.'
Thomas Jefferson played a significant role in the adoption of the dollar as a legal tender for the 13 colonies, which had just rebelled against England. In his Notes on a Money Unit for the United States, he argued that the dollar was already well known to the colonists, and its adoption would simplify trade and commerce.
Today, the dollar is a powerful symbol of American economic influence, and its history is a testament to the complex and often surprising connections between language, culture, and geography.
