Statement I: The U.S.dollar traces its roots back to the old Spanish-milled silver dollar.
Statement II: "Pieces of eight" means eight bits which means one dollar.

Question

Quizplus · Accepted Answer

Statement I is true. The term dollar comes from the Spanish silver coin called the "thaler" which was widely used in Europe. Spanish colonies in America also adopted this coin as currency and called it the Spanish milled dollar. It was widely used in the United States until the mid-19th century.
Statement II is true. The Spanish milled dollar was divided into eight bits, and each bit was worth one-eighth of a dollar. This is where the expression "pieces of eight" comes from. So eight bits equaled one dollar.

Statement I: the U