On September 2, 1969, the first public Automatic Teller Machine (ATM) began giving out money to customers at Chemical Bank in Rockville Center, New York. This first ATM could give out cash, but it could not do anything else. Two years later in 1971, ATMs were introduced that could do other functions we associate with such machines today. Today, there are more than three million ATMs in the world.
A number of people worked on developing the ATM. But most credit Don Wetzel as coming up with the idea for the ATM while he was waiting in line at a bank. Wetzel worked as an executive at Docutel, a company that developed baggage-handling machines.
After the first machines appeared at banks, engineers continued to work on and improve the machines, which became more popular and common by the 1980s. I first remember using an ATM at a bank around 1984. It amazed me that I could access what little money I had in the bank so easily. Today, I cannot imagine not having them, even as technology keeps changing. The last time I deposited a check was the first time I did it through my cell phone.
Money Sings
There are a number of good songs about money or that reference money directly or indirectly. Dire Straits had “Money for Nothing.” The Beatles sang about not being able to buy love. 50 Cent reports, “I Get Money.” The Steve Miller Band advises us just to “Take the Money and Run.” And in “Price Tag,” Jesse J reminds us “it’s not about the money, money, money.” Yet, as Cyndi Lauper notes, “Money Changes Everything.”
But the first song about money that comes to my mind is Pink Floyd’s “Money.” From the opening cash register sound of coins, it is one of the most recognizable openings in music.
Roger Waters wrote the song, which features lead vocals by David Gilmour. In the Pink Floyd song, the way Gilmour exclaims “Money!” and some of the lines like “Money is a gas” lead listeners to believe the song is in praise of currency. But if one examines the lyrics closely, one sees the song is really about problems caused by money.
Share it fairly but don’t take a slice of my pie;
Money, so they say,
Is the root of all evil today;
But if you ask for a raise it’s no surprise that they’re
Giving none away, away, away.
(Some related Chimesfreedom posts.)
