Treasury Department Will Replace Hamilton with Historic Woman on the $10 Bill
Treasury Secretary Jacob J. Lew announced Wednesday that a redesigned $10 bill will feature a portrait of a woman, replacing Alexander Hamilton.
The Treasury Department and the Bureau of Engraving and Printing plan to release the new note in 2020 to correspond with the 100th anniversary of the 19th Amendment, which gave women the right to vote. Treasury officials say the $10 bill was due for a redesign in order to update its security features and prevent counterfeiting. The new bill will also include a tactile function to help the visually impaired.
While the Secretary has traditionally relied on advice from the Bureau of Engraving and Printing when it comes to designing currency, Lew has decided to let the people submit their ideas. He’s asking the public to submit their designs or ideas for who should be featured and what images and expressions best represent or democracy.
If you want to submit an idea, you can go to thenew10.treasury.gov or use the hashtag #TheNew10 on Twitter and other social media sites. Secretary Lew will consider the best concepts and announce a portrait selection later this year.
While many have expressed delight at the news of a woman being portrayed on our currency, some have reacted negatively to the removal of Hamilton, a statue of whom stands before the Treasury building in Washington. Hamilton’s contributions to America’s founding were primarily concerned with our monetary system, and he was the foremost advocate for the system of modern capitalism the United States was founded upon.
Some have questioned why the Treasury Department doesn’t redesign the $20 bill instead and replace Andrew Jackson. Jackson, ironically, was opposed to the government issuing paper currency and abolished the second central bank because, he argued, it exercised too much power over the economy and the government’s ability to borrow and lend.
Despite the controversy over the Treasury’s choice of note, it’s still exciting to hear that one of America’s great women will adorn a bill. Who do you think it should be?