Thursday, November 24, 2016
Friday, November 11, 2016
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Saturday, March 7, 2015
Group campaigns to see Andrew Jackson replaced on $20 bill
http://www.aol.com/article/2015/03/07/group-campaigns-to-see-andrew-jackson-replaced-on-20-bill/21150810/ George Washington sits on the $1 bill and Abraham Lincoln is on the $5, but have you ever wondered why Andrew Jackson is on the twenty? According to Biography, "no one really knows."
So maybe it's time to switch it up? At least that's the aim of the organization Women on 20s.
The Washington Post talked to the organization's executive director who said Andrew Jackson "would be rolling in his grave to know that every day the ATM spits out bills with his face on it."
"It's pretty ironic to showcase a president who hated paper, as he trusted on the hard stuff, gold in silver," reports Biography.
But the group's goal isn't just to get Jackson's face off the bill. On its site W20 writes, "We believe this simple, symbolic and long-overdue change could be an important stepping stone for other initiatives promoting gender equality."
Now, Sacagawea, a woman, is on the dollar coin, but no woman has ever been featured on paper money.
The group has provided a list of 15 possible candidates, including Susan B. Anthony, Harriet Tubman, Eleanor Roosevelt, and Rosa Parks. The idea has at least one legitimate backer.
"A young girl wrote to ask 'why aren't there any women on our currency.' And then she gave me like a long list of possible women to put on our dollar bills and quarters and stuff, which I thought was a pretty good idea," President Obama said.
But why choose Andrew Jackson, the man of the common folk, to kick to the curb, other than his supposed hatred for paper money? Well, for one, his extremely controversial decision to pass the Indian Removal Act of 1830.
"The result was that they were rounded up at gunpoint and forced to move. Their property was seized. ... On the Cherokee's forced march about one out of every four died en route which is why they call it The Trail of Tears," reports History Channel.
Jackson was also a supporter of slavery - something many of the women who could potentially take his place on the twenty fought to end.
And while there seems to be a decent amount of support to replace the portrait on the $20 bill, not everyone is happy with the list of candidates. At least one is a bit controversial; Margaret Sanger founded Planned Parenthood, which provides family planning services including abortions.
We will note, however, there's nothing to say Andrew Jackson will actually get the boot.
But in 2013 a similar campaign was successful in Britain, putting English novelist Jane Austen on the 10-pound note. "I think it's important to have both sexes represented," said one citizen.
Thursday, October 16, 2014
Wednesday, October 15, 2014
Government spends twice what coins are worth in minting
CENTS INSENSIBILITY
PENNIES FROM HELL: CHANGE WE CAN'T BELIEVE IN
Government spends twice what coins are worth in minting
The cost for the U.S. government to produce pennies and nickels is more than the face value of the coins, a government watchdog points out.
Judicial Watch, in a statement Wednesday, called it an “egregious waste” and a “fleecing.”
The U.S. Treasury’s practice, Judicial Watch said, “means hundreds of millions of coins have been sold well below cost.”
“Incredibly, the government has knowingly done this for at least eight years and actually documented the egregious waste in several reports though nothing has been done to stop it,” Judicial Watch said. “In fact, both the Treasury and the Bureau of the Mint have extensive documentation on this, yet it continues today.”
Judicial Watch cited a 17-page 2012 U.S. Treasury report that presented the key information in the closing paragraphs.
“Challenges also exist with coin production,” the report said. “In recent years, the [U.S.] Mint reported that the cost of producing penny and nickel coins were double their face value and that metal prices have caused the production costs to be higher than the coins’ face value for the past six years.”
The report said Treasury “also suspended production of the dollar coins to save money in production and storage costs due to excess supplies on hand and low demand for the coins.”
Judicial Watch commented that if “a private business operated in this manner, it would surely go broke in no time.”
The buried reference to the cost of producing money was noticed by a lawyer who brought it to the watchdog group’s attention.
“The audit also mentions the boondoggle surrounding the suspended dollar coins. Low demand and the high cost to store the excess supplies led the Treasury to stop making them yet in fiscal year 2011 production costs of the unpopular dollar coin were about a fifth of its value, according to the report,” Judicial Watch said.
The organization said Treasury is “well known for its transgressions not to mention wasting public funds.”
Earlier this year, Judicial Watch found Treasury paid an upscale public relations firm $112.7 million to promote money.
The Treasury Department’s Bureau of Engraving and Printing paid to educate the public about the redesign of the $100, $50, $20, $10 and $5 notes.
Judicial Watch said American taxpayers received in “the fleecing” to promote an established product that needs no promotion “education materials on the new bills in 18 foreign languages, awareness programs aimed at domestic and Latin American markets, stakeholder and media outreach and an interactive website.”
The U.S. produced 6 billion pennies in 2012 and more than 7 billion in 2013, with a combined face value of about $130 million. About 1 billion nickels were made in 2012 and about 1.2 billion in 2013.
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