Tuesday, June 23, 2015

Changing Portraits on Our Bills

For John, BLUFYour idea.  Nothing to see here; just move along.

Here is the US Department of the Treasury Press Release on the plan to put a woman on the Ten Dollar Bill.  This is an idea that has gotten a recent public boost.

My recommendation is Harriet Tubman.  She is a good model for all of us.  She was a brave activist, helping slaves to escape north.  She worked for Women's Suffrage.  She packed a gun.  She was a Republican.

That said, City Life Producer John McDonough has come up with a solution to allow us to preserve the image of the first US Secretary of the Treasury on the Ten Spot, while allowing us to honor a woman of historic importance.  He proposes a $25 bill.

At this point in time the $50 (US Grant's image) is too big for a lot of small businesses to accept.  At the Dunkin' Donuts drive-up window it says no bills above $20.  The risk of a counterfeit bill is too high.  But, a $25 would not be too much of a risk.

One might argue that a $25 would not add that much value over the Double Sawbuck, but I think that given inflation over time it might reach a niche market.  I think the competition would answer that question.

There is the question of how cash register trays are configured, but I think that pushing the $50 aside will allow room.

If we are going to do something new we should not settle for rearranging the portraits on the wall.  Let us make something new with a new portrait.

Regards  —  Cliff

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