Former Fed Chairman Ben Bernanke said he is “appalled” by the treasury secretary’s decision to have Alexander Hamilton split his duty as the face of the $10 bill with a woman.
Though he said secretary Jack Lew’s decision to put a female face on the ten is a “fine idea,” Bernanke made it clear he doesn’t think it should be at Hamilton’s expense.
“Hamilton, the first Secretary of the Treasury, would qualify as among the greatest of our founders for his contributions to achieving American independence and creating the Constitution alone,” Bernanke wrote in a blog post.
Bernanke argued that Hamilton also helped stabilize and strengthen the U.S. financial system in the early days of America, paving the way for a strong economy.
“The importance of Hamilton’s achievement can be judged by the problems that the combination of uncoordinated national fiscal policies and a single currency has caused the Eurozone in recent years,” he wrote, adding that Hamilton’s efforts to consolidate state debts and to create a strong federal fiscal system helped America avoid some of the eurozone’s current issues.
Bernanke added that he supports Lew’s historic decision to put a woman on U.S. paper currency for the first time in more than a century.
I would give Jackson the boot. His role in the Indian Removal Act is enough to demote him from any recognition as a human being, in my opinion. Hamilton certainly has his banking cred and probably has contributed more to the notion of central banking than anyone else displayed on American currency. I might even give Lincoln the boot.
What woman would we put on paper currency and what would the criteria be? I would choose someone who contributed the most to both women and men in the 20th century. We have worn out Susan B. and both Indian women, Pocahontas and Sacagawea. Sacagawea is a personal favorite of mine, for no other reason than I enjoyed reading about her my entire life. However, she had her own coin.
I would choose Eleanor Roosevelt to put on the $20 bill. Her years of service crossed over half the 20th century. She tried to help others during the depression, WWII, and even after her husband’s death. She traveled thousands of miles, often placing herself in danger to visit the troops and to be a mother to many. I don’t agree with all her politics but you can’t argue with her selfless service to this nation.