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| 1882 Gold Certificate with Jackson portrait (Kurt/Wikimedia Commons) |
There has been a great deal of discussion of late after the U.S. Treasury Department announced that Harriet Tubman's image would replace that of former President Andrew Jackson on the twenty dollar bill. Previous plans were to replace Alexander Hamilton on the ten dollar note with a woman. After a great deal of debate, Secretary Lew decided to change the $20 instead after an outpouring of support to keep Hamilton.
This makes a great deal of sense from a historical perspective. Hamilton almost single-handily created the American financial system during the early years of the republic and one might argue that he, more than anyone, deserves to be on some form of U.S. currency. The choice of Jackson on the $20, which occurred in 1928 during a bevy of portrait selections that year, never made a great deal of sense. There appears to be no documentation as to why he was selected (other than he was and is considered one of America's great presidents). However, the fact that Jackson killed the Second Bank of the United States and opposed paper currency makes him an odd choice. The point that he is on the most used bill in U.S. currency is ironic at best. One can ponder how Jackson would feel about being on paper currency and come up with a relatively sure conclusion that he would be mad as hell!
Perhaps this is the right time for change. From a historians perspective, it does have a great deal of merit because it has people engaging in discussion about Jackson's legacy and history in general. It is always a good thing when Americans examine their past. It also provides a spark for debate over who should replace him. Harriet Tubman's selection is very revealing of the times which we live and demonstrates the great progress we have made as Americans when we choose to put an African-American woman on the twenty.
Traditionalists have argued against the change, but it is important to remember that changes to currency have happened repeatedly since the founding of the republic. Modern currency was established in 1913 with the Federal Reserve Act which established the Federal Reserve as the nation's central bank. In 1914, the reserve began to issue bills called Federal Reserve notes which are still in use today. Currency portraits have changed since those bills were instituted and many time before 1914.
Jackson appeared on U.S. currency eighteen times throughout our history and although he is now being removed, perhaps we can move from debate to a thorough discussion of his importance and legacy to our country. Jackson was our first "populist" president and in today's political environment that should be more than enough fuel to help get the discussion started.
