Putting a Woman on the $10 Bill

Stephen Henderson and Anita Johnson, financial psychologist as well as the founder and CEO of Money Wisdom for Women, talk about the the U.S. Department of the Treasury‘s announcement that a woman will appear on the ten dollar bill instead of the twenty, replacing Alexander Hamilton over Andrew Jackson. The key points of their discussion:

• Is this a victory?: Johnson says this is a modified victory for American women. She says the campaign to place a woman on American paper currency focused on the twenty dollar bill because it has a greater circulation than the ten dollar bill and there are plenty of reasons to replace Andrew Jackson. Stephen agrees, citing Jackson’s legacy of anti-Native American measures and strong advocacy against a federal banking system. He says Alexander Hamilton, the first U.S. Secretary of the Treasury will share the ten dollar bill with whichever woman is chosen to appear there.
• Why does it matter?: Johnson says women in America have come a long way in terms of equal rights, but it is past time that a woman is placed on a bill. She says seeing a woman on paper currency will give a sense of satisfaction to women who are looking for a role model. Susan B. Anthony and Sacagawea have been featured on U.S. coins in the past, but Johnson says these coins didn’t circulate well and instead became collector’s items rather than being used as regular currency. She says bills make us feel empowered and Stephen agrees, saying that change in your pocket doesn’t feel as good as cash in your wallet.
• Who should be on the $10 bill?: Callers expressed interest in seeing female historical figures such as Eleanor Roosevelt, Abigail Adams, Helen Keller, and Sojourner Truth to appear alongside Alexander Hamilton on the new ten dollar bill starting in 2020.

Click the audio link above to hear the full discussion. To learn more about the redesign of the ten dollar bill click here.