There are those who contend that looking to the past is unproductive. Perhaps. But wise people like Confucius see it differently. His take was: "Study the past, if you would divine the future."

So what would we say now if we were to look back a century. The U.S. was in pretty amazing shape. Our output per capita was the highest in the world, and our manufacturing output was higher than France's, Germany's and the U.K.'s combined. Cities flourished with paved streets, modern sewer and water systems, electricity and automobiles aplenty. Unemployment was barely over 4 percent.

There were other perks as well, including no federal income tax, no social security tax and none of the other governmental requisites we currently have. In fairness, income tax was just about to be initiatated in 1914 but it only affected 4 percent of the population. Worse was the looming advent of World War I. And at the helm of all this was former President Woodrow Wilson.

Wilson's two terms as president ran through the entire "War to end all wars." It also included what could be considered the "Golden Age." Many U.S. coins were struck from gold. Gold $1; $2 1/2; $5; and $10 coins were common denominations in people's pockets. It was also the era of the coveted $20 gold piece designed by Augustus Saint-Gaudens, which is still considered the most beautiful U.S. coin ever created. Wilson might be pleased that his image is now about to grace the latest coin in the Presidential Dollar series.

Though Wilson came out of the war as the victor, at the outset, he had tried everything he could to avoid getting involved. He was so dispassionate about the growing conflict in Europe that he even turned a blind eye to the deaths of 128 Americans aboard the ship Lusitania, sunk by a German U-boat.

For years, as the war raged in Europe, Wilson continued to remain neutral under ridiculous circumstances. These included ongoing U-boat attacks as well as an intercepted message revealing that Germany was — I'm not making this up — actively trying to convince Mexico to invade Texas. Finally, bowing to pressure and realizing the European powers would not "make nice," Wilson, in 1917, asked Congress for a formal declaration of war.

After 18 months of American involvement and roughly 120,000 U.S. deaths, the war ended. It can be argued that no good can come from war, but the aftermath of World War I resulted in the creation of Wilson's League of Nations. Additionally, because of the support and heavy involvement of women in the war effort, they received the right to vote in 1920, thanks to the ratification of the 19th Amendment. (Wilson actually opposed women voting but was shot down big time on that one.)

So how was Wilson's legacy enshrined? You don't see his face on any of our circulating coins. Abraham Lincoln, Thomas Jefferson, Franklin Roosevelt, George Washington and John F. Kennedy got those. So, too, with paper currency: Lincoln, Jefferson, Washington, Andrew Hamilton, Andrew Jackson, Ulysses S. Grant and Benjamin Franklin got all the plumb slots of these familiar bills. So was Wilson snubbed? Far from it.

At the time, there were notes of higher denominations: $500, $1,000 and $5,000. Only the captains of industry (or mobsters) ever owned or used those. Over and above them was a coveted $10,000 note. A select few ultra rich souls saw this bill, which featured the portrait of Salmon Chase.

Only one note was higher, and, in fact, it was the highest. It was made for use by and between banks for the largest of transactions. In 1934, an almost unfathomable $100,000 bill was printed. Factored for inflation of 3.68 percent annually, it was the equivalent of $1,739,000 today. Wilson made the cut for that bill. Of course, almost no one ever saw it (but it's a good trivia question for the TV show "Jeopardy!").

Wilson could take solace in his portrait now appearing on the newest coin in the U.S. Presidential Dollar series of coins. Sadly, similar to the $100,000 bill, these coins are no longer circulating. They are now being minted only for collectors. Anyone interested can get more information or obtain the coins directly from the Mint online at: www.USMint.gov.

Editor's Note: JPEG visuals of the new Woodrow Wilson golden dollar coin and 1934 $100,000 bill have been sent with this column.

To find out more about Peter Rexford and features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.