Political correctness has gone full circle in America’s monetary system as on April 20, the Treasury Department announced that Andrew Jackson will either be removed from, or moved to the back of, the $20 bill. And in his place will be Harriet Tubman, a black woman who was involved deeply in the abolitionist movement.
Additionally, the Treasury Department has said it is expected to replace other founding fathers from the currency with images of other women and non-white historical figures. However, Secretary Lew announced that they would not remove Alexander Hamilton from the $10, perhaps with the knowledge that he was the father of the central bank in colonial times.
Moments ago Politico reported that the U.S. Treasury will announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders.
Not every dead president is being scraped however: treasury Secretary Jack Lew on Wednesday will announce a decision to keep Alexander Hamilton on the front of the $10 bill and put leaders of the movement to give women the right to vote on the back of the bill.
Lew’s decision comes after he announced last summer that he was considering replacing Hamilton on the $10 bill with a woman. The announcement drew swift rebukes from fans of Hamilton, who helped create the Treasury Department and the modern American financial system. Critics immediately suggested Hamilton take Jackson off the $20 bill given the former president’s role in moving native Americans off their land.
Jackson may remain on the $20 bill in some capacity, but will clearly be demoted.
Lew told POLITICO last July that Treasury was exploring ways to respond to critics. “There are a number of options of how we can resolve this,” Lew said. “We’re not taking Alexander Hamilton off our currency.” – Zerohedge
In all honesty, Andrew Jackson is probably sleeping better in his grave now that he is being removed from the $20, especially since he is most known for ending America’s 2nd charter of the central bank. And in fact, Jackson has as his epitaph the words, “I killed the bank’ on his tombstone.
Most nations have images of important leaders on their currencies, with some even having symbols that represent their culture and national heritage. But in few of these instances do nations put pictures of lessor known people on their money to appease political correctness or periodic social change, which then makes one wonder if the next person to replace a founding father on America’s currency will be the reality show celebrity who most represents the direction America is going.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.