This week, Treasury Secretary Jack Lew announced plans to redesign the $10 bill, and replace the current headshot of Alexander Hamilton with a yet to be named woman. This comes at the heels of a push to remove Andrew Jackson from the $20 bill. However, the Treasury announced the $10 bill was due for a redesign before the $20, so the $10 bill it is. Fair enough, but I can’t grasp why it would throw a wrench in the works to redesign the $20 first. Caveat: I don’t work for the government.
I think the real decision has to do more with the now relative obscurity of Alexander Hamilton when compared to Andrew Jackson, who isn’t exactly the topic of discussion at cocktail parties these days either. Further, I believe the Treasury probably thought removing Jackson would cause some sort of rift in the South, and New Yorkers (Hamilton was one) would have more things to worry about than who is on a Federal Reserve Note…Read On…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.