2017-01-02 Mon

Federal Reserve notes of USA were going to be revised as per some reports that were out last year. $20 notes were going to feature abolitionist Harriet Tubman’s portrait. Recently though, Treasury Secretary Steven Mnuchin stated that making design changes is something that they would consider, nevertheless, they have other important issues to look into like improving security features.

Treasury Secretary Jack Lew had announced on 20th April 2016 that new $20, $10 and $5 notes would be introduced. The new notes were supposed to have improved security features. Apart from that, portraits and vignettes on the notes were also going to be changed.

The original plan was to retain the portrait of Alexander Hamilton on the new $10 note. The reverse was supposed to depict the March 3, 1913, march for suffrage that ended at the entrance of Treasury Building. Leaders of the suffrage movement like Lucretia Mott, Sojourner Truth, Susan B. Anthony, Elizabeth Cady Stanton, and Alice Paul were also supposed to be honoured on the designs.

As per Jack Lew’s plan, the obverse of the $5 note would still have Abraham Lincoln’s image. Some civil rights events at the Lincoln Memorial, such as Dr. Martin Luther King Jr.’s 1963 “I Have a Dream” speech and Marian Anderson’s famous 1939 open-air concert, were to be represented on the reverse.

The new $20 was supposed to feature Abolitionist Harriet Tubman on the obverse. There was a lot of public support for this idea through online Women on 20s campaign.

New $10 note was supposed to be ready for production by 18th August 2020. Final designs for $5 and $20 notes were also to be finalised by that time.

All these plans have now been reversed after Treasury Secretary Steven Mnuchin revealed that the focus would only be on improving security features, more than anything else.