The branding of a country through the design of its currency

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MONEY The branding of a country through the design of its currency Richard Zeid ABSTRACT People covet it. Countries fight over it. People have dedicated their lives to the control of it.

They will even kill for it. Always wanting more, never having enough. It really is not that special.

It represents a common article for bartering, a medium for exchange. A mere piece of paper measuring approximately six by two and a half inches, printed on both sides. They say it is the root of all evil, this small and rather unimpressive piece of paper, but for hundreds if not thousands of years, in every country around the world, it represents national pride, historic figures and events as diverse as the pieces of paper themselves.

It is money. What makes a simple piece of paper so important to so many individuals is what will be explored in this paper. Slowly peeling back the layers that go into the cre- ation, production and security of these documents, I discovered common themes and best practices.

Each with their own distinct styles, more countries share concepts than don 9t. As many successful businesses know, effective branding and implementation of their brand is key to their success. ... more. less.

All countries have a brand. People within and outside of the country have an idea in their minds of what the country represents. In the United States you can find this information outlined succinctly in our Constitution. It is important to also be aware of the history of paper currency - to understand where it came from, why it was needed, and how it was used as a communication tool. Great stories and statements have been made on early currencies, many of these stories remain on notes throughout the world. From color-shifting inks to microprinting, printing currency is a highly sophisticated process. It is more than just laying ink down on paper. Many modern techniques are pushed to their limits to insure that currency has a unique look and feel as compared to any other printed document. Even the traditional papermaking processes are tested when producing the new media for currency. A very common element that currencies throughout the world share is the protection of their currency from counterfeiters. Many of the processes, design choices, and methods have all been fine tuned and altered to ensure that the document is nearly impossible to easily duplicate. The United States Treasury sums it up quite succinctly with their motto cSafer. Smarter. More Secure. d Qualitative research used books, various articles, and websites for branding, history, production, printing, and counterfeiting topics. Quantitative research, in the form of actual collected currencies, lead to the overall design survey. Together the research was used to discover the mysteries behind and within currency. The results of this research shines the light on a subject often taken for granted. In the end, an under- standing of building a better, perhaps more secure, note will be uncovered. MONEY The branding of a country through the design of its currency by Richard Zeid © 2004 Richard Zeid All rights reserved.No part of this material shall be reproduced or utilized in any manner, electronically or mechanically,without the written permission of the author. CONTENTS INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.01 BRANDING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.05 HISTORY OFCURRENCYAMERICANSTYLE . . . . . . . . . . . . . . . . . . . . . . . . 0.08 WORDS ON PAPER E Pluribus Unum. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.16 Denominations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.17 In God We Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.18 $. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.18 THEEURO History. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.20 The Competition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.21 A New Symbol for a New Currency. . . . . . . . . . . . . . . . . . . . . . . . . . . 0.27 THEUNITEDSTATEOFTHEDOLLAR Redesigning the Dollar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.30 Why Andrew Jackson and Who Chooses? . . . . . . . . . . . . . . . . . . . . . . 0.34 JSG cJust Some Guy d Boggs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.37 Dollarization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.39 Globalization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.44 THE MAKING OF MONEY Paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.46 Security Threads. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.47 Watermarks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.48 Ink on Paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.51 PRINTING Gravure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.53 Steel Die Engraving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.54 COUNTERFEITING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.56 DESIGN Royalty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.63 The Arts and Culture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.69 Honored Citizens. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.75 The Face of the Country. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.80 Industry and Technology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.83 Antiquities and Artifacts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.84 Flora and Fauna. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.87 CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.90 Endnotes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.96 Bibliography. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.01 INTRODUCTION I remember my first trip to a place outside of the United States. The oddest part of the journey was that there was no physical travel done. No airplane, train, bus or other vehicle was involved. I did not have to worry about time changes, lost baggage nor jet lag. It was a wonderful trip for a young boy who never went further than his own neighborhood. My father is from Canada. Much of his family remained in this foreign place, at least, foreign to me. They came for a visit around the time of my birthday. Many brought gifts, which was very kind, but nothing I have not received before. One uncle gave a gift that brought me to another place. In a card simply signed, cLove, Uncle Sol, d were these strange pieces of paper printed in bright colors with strange faces, odd buildings, and a queen, which I thought only existed in fairy tales and history books. It was a new world brought to me, telling me about a place I have never seen. Like the money I had in my own pocket, I am sure those who saw it and used it on a daily basis never really gave it much thought, but I was fascinated. Anytime I knew of someone going someplace else I needed to see the money. Those little slips of paper were my own special travel log. From looking at these places pictured, I knew something about that country: what the people looked like, and what they thought was beautiful, even the places they revered. Their currency had unusual aspects to them as well, but so did ours in the United States. When is the last time you saw a pyramid in this country? Yet there it was proudly displayed on our own currency. The meaning is unknown but it looked very regal and important. Currencies say so much more about their country of origin than just the monetary association and buying a loaf of bread. Choices have been made about the images that are illustrated. The people who are shown speak to those national values the country respects. The motifs are as varied as something I cannot express as of yet and create a rich visual document. But when all is said and done, and the right images are chosen, what does that picture say about the country from which it comes? Does it give someone not from that country an accurate picture and idea of that country?Is it an amazing public relations tool that communicates some image agenda that might not speak for the citizenry? It is these questions and so many more that makes currency such an exciting part of the fabric of a country 9s identity. Taking a little bit of that country home with you after a visit helps you remember the experience you had there - the beauty of the people and the sites. Their artwork and culture are quickly expressed in a typically innocuous piece of printed matter. Europe, seen as the cultural birthplace of the modern world, is as diverse as any continent can be. Many of the great artists came from Europe, and their art alone could often tell you what country they called home. From the Scandinavian peninsu- la to the landlocked country of Switzerland, each country creates currency for use in their country, unique to each country. Only recently has the European Union began to homogenize the currency and implement what is now known world over as the Euro. Currently, twelve countries use the Euro. $0.02 The far-reaching impact that money has on one 9s society and cultural fabric is astounding. Singers have sung about both its virtues and demons. Writers have written tomes of its achievements. Artists have expressed their views using it. Countries have waged great and devastating wars over its political ramifications. Movies have celebrated it. It is a part of one 9s national identity. But behind it all still remains a six-by-two inch piece of paper printed on two sides in a rather dark and unimpressive green ink. Why are so many diverse people all wanting this mystical piece of paper?What does it really represent and say that so many people want to associate with it?What do these small pieces of fine cotton paper folded into our pockets mean beyond their face value? In America, money has been at the heart of the American experience. It has funded great invention and ingenuity. Paper money itself is a classic example of American ingenuity. 1 Even its disregard of authority, the Boston Tea Party, has tradition. The dollar throughout its history has existed as an art form, a kind of advertising, and a builder of power. It has moved our country alone from thirteen small colonies west across the frontier and the plains, building cities and spawning opportunity. It is indeed part of the American brand. Countries outside of our borders also have their own brand. Ask people in the states and you will hear all sorts of comments about foreign countries, typically not flattering $0.03 or representative of the national brand of the country. Poland 9s people are often the brunt of jokes against their intelligence. The Scots are cheap and frugal. The French hate Americans, although one of our most treasured symbols, the Statue Of Liberty, was a gift from them. Italians are seen as macho lotharios. Asian countries are seen as mathematical and technological wizards. Africa and other third world nations are seen as vast wildlands of herds of wild animals and not much else. But they, too, have designed and redesigned their currencies to not address such issues but to celebrate in their unique cultures, national heroes, and contributions to the world as a whole. Their designs, heavy with color, different imagery and odd language, often seem to be highly abstract against our very formal looking currencies. Even young children do not recognize foreign currencies as legal tender but play money, much due to its appearance and their experience. But currencies of all countries are as different as the countries themselves. How does a country design a piece of paper that protects itself from the criminal element and says something about who they are? A balance needs to be struck, a balance between the imagery seen and the technique of the process of actually making currency. Of course, the process starts with the design. What is the country? How do they want to be seen to their citizens as well as their visitors?Where do they position themselves in the global arena? Essentially it all starts with their brand. $0.04 BRANDING Since the beginning of time, when man was communicating with drawings on cave walls, the need to communicate grew from a simple set of universal questions. Who am I? Who do I need to communicate with?Why do they need to know me?How will they find out?How do I want them to respond to me?Individuals, communities, organization and even countries all express their individual personalities through their identity. Man has always used symbols to express his uniqueness, pride, loyalty, and ownership. 1 The power of symbols is immeasurable, and can instantly trigger an image or emotion, be it sewn into a flag or etched in stone. The power of symbols now and in the future is strong. Countries have always been in a competitive fight for recognition, apparent in their banners on the battlefield and family crests. What was once heraldry is now known as branding. 2 A brand is a simple idea that lasts a long time. Brands are not just a tag on the back of someone 9s pants, or a logo on someone 9s computer. It goes beyond the kind of coffee you drink. Brands are more than just logos. Logos, a part of corporate, sender-oriented communications strategies, make up only a piece of a brand. They are part of a sender-oriented communications strategy. A brand, simply put, is part of a user-centered identity. And that is where currency lies, in the hands of the users. How do people perceive money? What does it mean to them? $0.05 A brand is a set of ideas that occupies space - not on a shelf, but in one 9s mind. Those ideas and what they represent give the items they are attached to their value. Brands are holistic. They are not individual elements, but parts of a whole. Brands are a creation and maintenance of a promise to the public, the soul of the endeavor. They are a collection and balance of corporate identity and reputation, product/service functionality, character equals value proposition, and, lastly, and maybe most importantly, the user response and interaction. A brand must be built from the inside out. The product is the critical ingredient. Being tangible and something the user can relate to is crucial to its success. Of course with currency, a person will use the product regardless of their relationship with it. People must use money as a basic tool for survival, regardless of what it looks like or how it works. However, how they feel about it could be affected by their visual relationship with it. If it looks like Monopoly/play money, the attitude is clearly different than if the document demands respect and reverence. A brand holds no value that occupies no mental space in any customer 9s mind. Mind share and recognition through exposure alone cannot create a brand. The user constructs the brand through their response and interaction when they interpret the product and engage with it. $0.06 Brands are built over time. Identification, consistency, quality, and familiarity are all key characteristics which lead to a successful brand, be it Corn Flakes, Catholicism, or the United States. Our country 9s brand is outlined in our Constitution, our written set of beliefs. We believe in freedom, self expression, being individuals, and being free from oppressive governing. Everything we hold true to being an American is clearly outlined in our Constitution setting us apart from all other countries. Our set of written values is so strong that people from all over the world believe many of them and look at America as their home too. As times change, so does our Constitution. Amendments keep our beliefs current and take into account the changes in our American experience. As our currency began as a collection of promissory notes, allegories and story telling documents, it has often changed in look as well as to reflect those changes. Since the late 1920 9s, our currency - the images you see, the faces looking back at you, stopped evolving. Women have been given equal rights as men and hold many prominent positions in our country 9s government, yet they are still not represented. The country has grown exponentially due to our American dream and our welcoming Statue of Liberty, and yet not a single non-white face is seen staring back from your wallet. In more recent times, when nations undergo political change, it is often reflected in the images on their currency, while maintaining icons on a nation's banknote can signify stability. $0.07 HISTORY OFCURRENCYAMERICANSTYLE Let 9s go back to when America was yet to be discovered and to the words that began the discovery of a new world. cOh, most excellent gold! d declared Christopher Columbus, cWho has gold has a treasure [that] even helps souls to paradise. d 1 And with those words, Queen Isabelle and King Ferdinand sent Columbus off to the New World. It was money that not only funded the trip, but was the motivation to expand a country 9s wealth and power. The pilgrims, escaping religious persecution, soon followed, landing on Plymouth Rock. Precious metals, sea shells and tea leaves all served as early currencies throughout the world. But the local Indians of the New World had their own monetary systems. Ceremonies called potlatch were a form of barter. Potlatch comes from a Chinook Indian custom of a ceremony where gifts were exchanged, feasts were eaten, and dances and various public rituals were performed. 2 These ceremonies often grew to elaborate ceremonies, since the exchange of gifts from one tribe to another also had close ties to the social rank of a tribe and its leader. They became social events to outdo one another 9s tribe. Soon, potlatch was outlawed in tribes in Canada. This form of barter, however, was not unique to North America and the tribes around the original thirteen colonies. In Mexico, the Aztecs and Mayan cultures had a consistent monetary form. Gold dust kept in transparent quills and cocoa beans kept for larger payments were kept in sacks of 24,000 and used as currency. 3 $0.08 Native Americans had their own version made out of clam shells called it wampum. A primitive form of money, wampum came to be used extensively for trade by the colonists as well as the natives. Although made of shells from the sea, wampum was hardly confined to coastal tribes and was used extensively inland. The Iroqouis amassed a massive quantity by way of tribute. As with the potlatch, wampum was desirable for its value as ornamentation and ceremony. Short lengths of eighteen inches were kept for daily, or more common use, while lengths as great as six feet were used for much larger purposes. In 1664, Stuyvesant arranged a loan worth over 5,000 guilders for wages for workers constructing the New York citadel. 4 And as we all know, Long Island, too was purchased with wampum. Wampum, however, fell victim to inflation. The Narragansett specialized in the manufacturing of wampum by drilling holes in the shells and stringing them together. But that skill was made out of date when the spread of industry, and in this case steel drill bits, enabled unskilled workers and colonists to increase the supply of wampum a hundredfold, thus driving down its value. In 1760, J.W. Campbell started a factory for drilling and assembling wampum in New Jersey and continued production for a hundred years. Imagine what would happen to the value of a dollar if we could print our own money! It was not too long before the American colonies started to produce their own forms of money, something that was uniquely theirs. In 1775, North Carolina had as many $0.09 as seventeen forms of currency that were all declared legal tender. 5 It should also be known that each of these varying forms had a common accounting basis in the pound, shilling and pence, something brought with them from the imperial system left behind in England. These various forms of currency fell into five groups: traditional native currencies including pelts and wampum, needed for frontier trading with native peoples; country pay or country money such as tobacco, rice, indigo, maize, wheat and other ccash crops d; unofficial coinage primarily from Spanish and Portuguese descent; some British coinage, although it was scarce; and finally, the birth of paper currency. The first of these paper currencies were made by the Massachusetts Bay Company. These notes, more like bills of credit, were issued to pay soldiers returning from expedition. The notes promised to be redeemed for gold or silver, and were in turn used to pay taxes as legal tender. The example in Massachusetts was quickly followed by other colonies. Another form of early paper money used through North America was ctobacco notes. d They, too, were certificates accounting for the quality and quantity of tobacco deposited into a public warehouse. As tobacco was actually used earlier, these notes were found to be more convenient than the actual leaf. Tobacco notes were recog- nized as legal tender in Virginia in 1727 and were a regular form of currency through the eighteenth century. $0.10 Public banks, in addition to State issues, began issuing loans in the form of paper money. This paper money was secured by mortgages on their property rather than a promise of future commodities. The term cbank d at this point was not as we know it today, but rather a collection of bills of credit issued for a temporary period of time. They were loan papers. If these were successful, reissues of these collected bills would lead to a permanent institution or bank in the more modern sense of the word. The Pennsylvania Land Bank was one of the best examples and authorized a series of three notes between 1723 and 1729. 6 The bank was such a success that Benjamin Franklin published a document called Modest Enquiry into the Nature and Necessity of a Paper Currency . His advocacy lead Franklin to receiving a contract to print the bank 9s third issue of notes. Franklin, being the innovator that he was, seized the opportunity and became one of the first designers of currency, including imagery and symbolism in his printed notes. Prior to Franklin, most notes were little more than a formally written legal looking document. But Franklin took the opportunity to treat his notes as allegories. He told stories of the times, communicating the mood of this new country and the relationship they had with England. One of his first notes that Franklin created was called a cContinental. d The story of this Continental (figure 1), as described in a Pennsylvania newspaper by $0.11 Franklin, speaks directly to the relationship of the colonies and England. cWe have a thorny bush, which a hand seems attempting to eradicate. The hand appears to bleed, as pricked by spines. The motto is SUSTINE VELABSTINE; which may be rendered Bear with me, or let me alone; or thus Either support or leave me. The bush I suppose to mean America, the bleeding hand Britain. Would to G-d that bleeding were stopt, the wounds of that hand healed, and its future operations directed by wisdom and equity; so shall the hawthorn flourish, and form a hedge around it, annoying with her thorns only its invading enemies. d 7 The allegories and history continue with pieces of currency showing more metaphoric images of the mood in the new country fighting against England up to, through and after the American Revolution. A $30 dollar bill (figure 2) shows two scenes with a nautical metaphor, probably speaking to the journey to the new world. The scene on the left shows a great wind stirring up the sea with the words VICONCITATE, cIt assaults with a violent force. d The scene on the right has a more optimistic view, with the sun shining down on calmer seas and the motto, CESANTEVENTO CONQUIESCEMUS, cWhen the wind subsides, we shall rest. d Two more examples (figures 3 and 4) show life around the Revolution. The colonies had taken quite a financial toll, and the imagery on the currency showed just how life had changed. The $2 note shows grain being thrashed by hand with a flail. The $0.12 figure 1 The Continental note designed by Benjamin Franklin tells the story of the new country 9s desire for independence from England. figure 2 An early note illustrating the journey to the new world both good and bad, the stormy seas of the trip and the optimistic future of the new country. motto says TRIBULATODITAT or cIt is enriched by affliction. d The $6 note from around 1775 shows a beaver gnawing at a tree with the words PRESERVADO or cBy perseverance. d Both are rather telling tales of the times in the yet-to-be-formed new country. Through the Revolution and thereafter the newly formed United States decided to get out of the paper money business. The debt from the war had been dreadful. But all that changed around 1820, when the new country was ready to grow, ready to show that they would flourish, and develop as any country would given its independence. America was stimulated with new projects to develop all the land beyond the eastern mountains. Projects involving moving people to the new areas included canals, toll roads, railroads, and bridges, and companies that were involved in these endeavors issued currencies to fund the projects. The imagery seen in these notes seemed incongruous to the project funded. They were fetching, seductively-clad figures, and cherubs. Allegorical figures were commonly found on notes of this period and embodied the romantic spirit and energy burgeoning at the time. Our American eagle was found enveloping Liberty (figure 5) acting as a perfect metaphor for the American fondness for freedom. Many of the banknotes had this early pin-up quality. And so began the image and branding of the new country, The United States of $0.13 figure 3 Daily chores in the new colonies were often shown on early currencies as this shows the thrashing of wheat. figure 4 A beaver gnawing at a tree metaphorically shows the struggles of daily life and cperseverance. d figure 5 This note from the Mechanics Bank helped fund construction projects and had a roman- tic spirit and energy of the new country. America. A brand no longer reported the mood of the times, but represented a new attitude, a future, and plans for growth, along with an image that could start taking root in the citizens minds that gave them an image of pride, development, opportunity, and independence. Many icons, as well as portraiture, appear on our currency. The most recognizable and the one that most people recall is the pyramid with the eye found on the back of the one dollar note. The roots of this graphic can be traced back to a $50 continental (figure 6 and 7) dating back to September 1778. The thirteen steps in the pyramid are said to represent the original thirteen colonies. The eye hovering ominously above the pyramid is said to be the eye of G-d. But perhaps a truer meaning is that it is the eye of the people watching over the new colonies. Some also see the eye as a Masonic symbol that represents cThe Great Architect of the Universe. d 8 JSGBoggs, an artist who uses self designed currency as his subject, sees all these portraits and icons as relics of a country 9s past. He creates cnew d currencies in his art and finds the selection of people, places and icons as a more contemporary media, nearly going back to early currency designs which told stories. He uses modern day icons and lesser known, but equally important, people in his designs. Boggs sees money as a symbol for something else, public art. One of Boggs 9s most famous designs shows Harriet Tubman. When asked why he $0.14 figure 6 and figure 7 The earliest image (figure 6) of the mysteri- ous pyramid is illustrated on this note dating to 1778. It has remained a part of the iconog- raphy still seen on today 9s notes (figure 7). chose her image he says, cI think she fits all the criteria for who we (America) should have on our money. She was a great American who risked her life for right in the face of adversity. That is everything we worship as Americans. d 9 But simply redesigning a currency does not make it money. That is, once again, where Boggs goes back to the early roots of barter. For his work to truly be seen as currency, of having value, he must be able to appropriate something in exchange. To do so he barters for goods and services to complete a contractual transaction, and thus, turning his art into currency. $0.15 WORDS ON PAPER E Pluribus Unum The words found on our American currency are almost as enigmatic as the images. The words E Pluribus Unum (figure 8), are found on the ribbon streaming from the eagle 9s beak on the seal of the United States. They simply mean cOut of Many One, d 1 lending further to it 9s cryptic meaning. The words themselves were supplied by Pierre Eugène Du Simitière. He was an eccentric antiquarian from Switzerland and became the principal patron of the American Museum in Philadelphia. This motto seemed to fit the desires of the newly formed country of thirteen colonies: Out of Many (thirteen colonies), One (a new country, a new beginning, a new independence). It was later found out that these words appeared in a London monthly magazine called Gentleman 9s Magazine in 1731. This only confirmed Du Simitière 9s eccentricity. If Gentleman 9s Magazine has a familiar ring to it, that would be due to its own evolution. In the 1980 9s, the magazine updated its own image and came back in its new form as GQ. As discussed earlier, a large part of a country 9s identity are the historic documents that their government rules by and their citizens live by. These words resonate with their citizens and often lend themselves to the ideal of what their country is all about. In America, we have great documents and icons that do just that. Everyone can recite a part of our Constitution, the plaque on the Statue of Liberty, even the $0.16 figure 8 The words E Pluribus Unum supplied by Pierre Eugène Du Simitière as seen in the official seal of the United States of America. Declaration of Independence. These words even reach beyond our country and into the global community. Everybody wants a piece of the American Dream, that which is outlined in our great documents. Prior to the redesign of the American currency, ID magazine asked several designers what they would do if given the opportunity to create the new notes. The designers Jennifer Sterling and Eric La Brecque from San Francisco worked with literary themes. In their design, they said it makes sense to move away from the cult of presidents and move towards the cult of texts (figure 9). 6 They also explored the use of color to differentiate denominations and a braille element. Denominations The one element, no matter the country, language spoken or written, cultural differences or economic level, is that the denominations on all these varied currencies are always in American numerals. Numbers seem to be a universal language and clearly an indicator that all countries can differentiate. Perhaps this is what needs to be seen and most clearly illustrated. The metric system, used internationally except for the United States, is not used on currency. Rather the very American numbering system, base ten, is. Italy 9s currency, which has note denominations in the thousand range, use typical American numbering of 1000, 5000, and 10000, opting to omit the commas used stateside. $0.17 figure 9 A twenty dollar note designed by Jennifer Sterling and Eric La Brecque explores the use of text and not image on currency. In God We Trust cIn God We Trust d brings about questions of the separation of church and state, a tenet we hold dear. How is it that on our own American currency we can contain such a bold religious declaration? The use of the national motto on both U.S. coins and currency notes is required by two statutes, 31 U.S.C. 5112(d) (1) and 5114(b). The motto was not adopted for use on U.S. paper currency until 1957. It first appeared on the 1935G Series $1 Silver Certificate, but didn't appear on U.S. Federal Reserve Notes until the Series 1963 currency. The use of the national motto has been challenged in court many times over the years that it has been in use, and has been consistently upheld by the various courts of this country, including the U.S. Supreme Court as recently as 1977. The Department of the Treasury and the Department of Justice intend to actively defend against challenges to the use of the national motto. In 1992, a challenge was filed and successfully defeated in the U.S. District Court for the District of Maryland. $ The most obvious of all words found on American currency is not really a word at all but a symbol, the dollar sign, $. Where did it come from? The unique form that the dollar represents is truly a mystery. Whereas the euro symbol comes directly from the $0.18 Greek symbol for the letter ce d, and the Y clearly stands for yen, F is evidently for franc. Even the £ for the British pound, as elaborate as it at first may seem, is still only a stylized L which comes from the Latin word clibro d which means pound. The origin of the "$" sign does not have a clear and obvious evolution. What can be accounted for has often been challenged. The most widely accepted explanation is that it is the result of the evolution of the Mexican or Spanish "P's" for pesos, piastres, or pieces of eight (figure10). 2 Many of these currencies were used within the new country and were familiar. The development of the symbol comes from the review of several old manuscripts and explains that the letter "S," gradually came to be written over the "P," developing a close equivalent to the "$" mark. It was widely used before the adoption of the United States dollar in 1785. $0.19 figure 10 The development of the dollar sign can best be traced back to the abbreviation of peso, PS, and the eventual overlapping of the characters into a new symbol as documented in old manuscripts. THEEURO History Across the Atlantic, the euro is changing the face of not a single country, but currently that of twelve countries that have adopted the new monetary system. One single monetary unit that represents twelve countries. Where is the unique appeal for each participating country?How does a country within the greater continent stand out with its own personality?France is clearly not the same country as the Netherlands, nor do they truly share a common history or vision. What we now know as the euro, has actually been years in the making. It all started with The Treaty of Rome (1957) that declared a common European market as a European objective with the aim of increasing economic prosperity and contributing to "an ever closer union among the peoples of Europe". Almost thirty years later, The Single European Act (1986) and the Treaty on European Union (1992) have built on The Treaty of Rome, introducing the Economic and Monetary Union (EMU) and laying the foundations for a single currency. The most recent development that finally paved the way for the euro came in January 1999, when the exchange rates of the participating currencies were irrevocably set. Euro area Member States began implementing a common monetary policy. The euro was introduced as a legal currency and the eleven currencies of the participating Member States: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, The $0.20 Netherlands, Austria, Portugal, and Finland, became subdivisions of the euro. 1 Greece joined in January 2001, and the 12 Member States introduced the new euro banknotes and coins at the beginning of 2002. Denmark, Sweden and the United Kingdom are members of the European Union but are not currently participating in the single currency. Denmark is a member of the Exchange Rate Mechanism II (ERM II), which means that the Danish krone is linked to the euro, although the exchange rate is not fixed, it became a subdivision of the euro. The Competition Aware that the appearance of Europe 9s single currency would play a role in establishing public confidence, national pride, even a sense of ownership in both the political and economic idea of a unified Europe, the European Monetary Institute held an official design competition between February and September 1996. In addition to a few practical restrictions, competitors were prohibited from entering images that could be associated with any particular country for fear of evoking bitter infighting and national rivalry. Images such as the Eiffel Tower, the Leaning Tower of Pisa, Beethoven, Bach, or Caravaggio were all forbidden. Robert Kalina embraced the challenge. Armed with his Apple computer, Kalina began the process of making money. Kalina by trade is a diagram designer, so he was no stranger to technology and its power to aid design. Kalina was a student at the $0.21 University of Graphic Arts in Vienna in 1975, so his background as a graphic designer suited him well for the task at hand, communicating to a large audience through print media. He currently works at the Austrian Central Bank where he designed the currency of Austria. When the call went out for the designers to apply and submit designs for the new currency, Kalina was more than qualified for the challenge. As with all creative projects, there was an overall outline or brief for the project. The theme of cepochs and styles of Europe d was given along with a color palette. Designs based on people closely attached to a country, like composers and artists, were prohibited. Seven notes were to be designed, 5, 10, 20, 50, 100, 200, and 500, and each needed to have a distinct look. Having people and landmarks removed from being used made it a daunting task to design a new bill. It is those elements that dominate currency from Korea to Belgium. This led Kalina to the library to find suitable imagery. While knowing the tradition of having a portrait on currency, Kalina knew that an anonymous face would not make much sense. He went back to the epochs and styles of Europe. He then thought of a window. A window he felt had the right tone of openness and cooperation for the European Union. Along with windows came the other symbols of bridges and gates. All these images conveyed the image of moving from one place to the next, passing through and moving ahead, all that he felt the new currency should represent. $0.22 He worked exclusively with the tools which he was most familiar 3 and oddly enough what most counterfeiters use too 3 his Macintosh computer. He scanned many images which gave him the flexibility to work quickly. cTo work on a Mac is uncomplicated. It is fast and the results are immediate. Working by hand can take weeks, d Kalina said. 1 This was an important visual appeal to what Kalina created. The new currency was to be used by a huge audience and needed to look accessible for the user and to represent the new tone of the currency. A formal engraving could look like much of the old currency with formal portraits or renderings of the structures Kalina was using. Using the speed of the computer also allowed Kalina to fully elaborate his concept in four series of notes within seven months. In the end he submitted two of his series for consideration. He says the final expression came directly from his computer. The true test of all the submitted designs came from an extensive user group, nearly 2,000 people. In order to ensure the public 9s use of the new currency, the designs were brought to the public who most commonly come into contact with high volumes of cash: taxi drivers, bank cashiers, and retailers, as well as an official review panel composed of artists, marketers, and monetary specialists. To Kalina 9s astonishment, his designs tested remarkably well and remained in contention. cI thought I would not have a chance because of my decision to do without portraits, d 3 Kalina said. It was indeed risky, but a risk worth taking for the new face (or lack $0.23 thereof) of the European Union. Consistent with competition requirements, each of the seven predetermined banknotes reflect a specific period of European history: Classical, Romanesque, Gothic, Renaissance, Baroque, the age of iron and glass, and Modern. As a theme, Kalina chose cbridges, gates, and windows, d but none of his images are modeled after a particular European monument. Rather, they represent features that can be found in many parts of Europe. The face of each bill depicts a characteristic window or gateway from one of the historical periods set against the 12 stars of the European Union (figure 11). Why twelve stars? The official explanation is: cAgainst the background of blue sky, twelve golden stars form a circle, representing the union of the peoples of Europe. The number of stars is invariable, twelve being the symbol of perfection and entirety. d 4 The backside of each portrays a picturesque but fictional bridge alongside a map of Europe. In the next few years, as many as 12 billion of these notes will be printed by 12 national presses. From the focus group came the news that a bridge construction specialist noticed familiarities in some of the structures used. The Pont de Neuilly in Paris, among others, stood out as a recognizable landmark. Kalina headed back to the computer to further redraw many of the bridges identified and study the sources where he $0.24 figure 11 A unified circle of twelve stars symbolizes the European Union and is seen on all euro notes. found his inspiration. In the end, this new group of specialists were a final test for the images of bridges in the designs. But now that a design was accepted, the real work of making money began. How can this new document be secure from counterfeiters? How can these new notes be produced? Many compression matters had to be considered for the final design: off- set, high and silk screen printing, over etching the final artwork, creating watermarks and other applications like foil stamping and special inks. Microprinting and other invisible safety features were all applied to the designs. Kalina was constantly aware and concerned that the aesthetics of the new currency not be given a secondary role in the production. One last detail that was required by the EMI (European Monetary Institute) was the availability and usability to the blind and seeing impaired. In other words, the new documents not only had to be different sizes and color, but also had to demonstrate obvious tactile differences. In addition to Kalina 9s work there are several other design features in the new currency of the European Union. These designs and the following features are: " the name of the currency 3 euro 3 in both the Latin (EURO) and the Greek (EYPO) alphabets; " the initials of the European Central Bank in five linguistic variants 3 BCE, ECB, EZB, EKT and EKP 3 covering the 11 official languages of the European Community; $0.25 " the copyright symbol (©) indicating copyright protection; and " the flag of the European Union. Each individual denomination is different in size, color and, as designed by Kalina, features a different architectural style, as you can see in the samples (figure 12). They are: EuroSizeColorStyle 5120 x 62 mmGreyClassical 10127 x 67 mmRedRomanesque 20133 x 72 mmBlueGothic 50140 x 77 mmOrangeRenaissance 100147 x 82 mmGreenBaroque and Rococo 200153 x 82 mmYellow-brownIron and glass 500160 x 82 mmPurpleModern 20th century Additional security features were implemented as were various printing processes to fulfill all requirements established by the EMU. A printing process created a craised d print feel that gives the notes their unique feel, much like that of American currency. When the banknote is held up to the light, a watermark, security thread, and see-through register are visible. All three features can be seen on the front and the reverse sides of genuine and official banknotes. $0.26 figure 12 A sampling of the euro notes shows the theme of architectural epochs as designed by Austrian designer Robert Kalina. Holograms are also incorporated in these new notes. A foil stripe hologram is seen on the front side of the lower values and a foil patch hologram is seen on the higher valued notes. Both, when tilted, shift shape and content within the hologram. On the reverse side of the lower values, when tilted, the brilliance of the iridescent stripe shows, and the color shifting ink on the high-value banknotes also shows when tilted. Holograms and color shifting ink have become a common security feature on many currencies because of their difficulty to reproduce. A New Symbol for a New Currency The euro symbol (figure 13) was created by the European Commission as part of its communications work for the single currency. The design had to satisfy three simple criteria, like all typographic symbols. These were: " to be a highly recognizable symbol of Europe; " to be easy to write by hand; " to have an aesthetically pleasing design. Thirty or so drafts were drawn up internally by the European Commission. Of these, ten were subjected to a qualitative assessment by the general public. Two designs emerged from the survey well ahead of the rest. It was from these two that the then President of the Commission, Jacques Santer, and the European Commissioner in charge of the euro, Yves-Thibault de Silguy, made their final choice. $0.27 figure 13 The Euro symbol 9s design and architecture inspired by the historic inspiration of the Greek letter epsilon. The symbol was born out of historic inspiration of the Greek letter epsilon, harking back to Classical times and the cradle of European civilization. The symbol also refers to the first letter of the word "Europe". The two parallel lines indicate the stability of the euro. The official abbreviation for the euro is EUR and this has been registered with the International Organization for Standardization (ISO). Despite all this and many other design complications and revisions, Kalina delivered his completed designs in June 1997. As many as 13 billion of these notes were printed by 11 national presses in advance for their release in January 1999. 5 Euro coins were not a part of the design competition. The faces of euro coins depict maps of Europe and the 12 stars of the European Union, while the reverse sides feature national symbols. The euro coins are minted by the twelve individual countries, as opposed to the European Central Bank. Here is where each country can brand itself visually with the familiar icons their currency once held. Each national government is responsible for the reverse side of those coins printed in its country. With eight euro coins and 11 participating countries, there are now 88 such designs. Nine national mints produced over 76 billion coins. 6 Coin designs from Germany, for instance, feature the Brandenburg Gate and the symbolic German eagle. Italian designs, selected in part by a national telephone poll, depict Leonardo da Vinci 9s Renaissance Man and Alessandro Botticelli 9s Birth of Venus . With the success of the euro, this new currency has the chance to become a worldwide $0.28 symbol of international currency, and a model for other nations and countries when considering redesigning their currencies. The successful development of the euro is central to the realization of a Europe in which people, services, capital, and goods can move freely from one country to another. The introduction of the Euro has been the largest monetary changeover the world has ever seen. $0.29 THEUNITEDSTATEOFTHEDOLLAR Redesigning the dollar The United States has begun to introduce the latest redesign of American currency (figure 14). The most noticeable change in the new design includes colored backgrounds. America 9s currency has always been the dark green custom-formulated ink. The impression has always been that colored money appeared to be playful, much like Monopoly money. Ootje Oxenaar, designer of the Dutch paper guilder said in a NOVAbroadcast on PBS, cThe only money that really inspired me, in fact, was play money, like Monopoly money. d 1 Not only are the Dutch guilders aesthetically attractive but they are user-friendly, as well. Oxenaar further explains, cIt was clear what you had in your hand, the type was clean, the colors were bright and vivid. They were also easy and practical to produce and were very well protected. d 2 Perhaps the Dutch example, along with other global examples, will help keep the United States in the forefront of currency design and protection. What other aspects the United States will incorporate as cbest practices d and what the new bills will look like was discovered when the next generation of currency was revealed in late 2003. The twenty dollar bill was the first to be redesigned and issued because it was the greatest victim of counterfeiting. The most noticeable change to the redesigned document has been the addition of color. Since the government began issuing currency, the specific green ink has been the predominant color. It is also the most $0.30 figure 14 The new face of United States currency, as shown on the top, has a more open feel to it as compared to the previous design shown on the bottom. The newest improvement is the addition of subtle background colors which will change with each denomination. recognizable feature of American currency. The subtle addition of the muted color palette makes duplicating the bill considerably more troublesome for criminal elements. It will also begin to give each denomination a distinct look because future denominations will have their own unique background color. While this is new for the United States, other countries from Mexico to Japan have known that distinct colors of currency help in the recognition of individual denominations. Color has always been used to visually separate the range of currencies. This color aspect also impacted me in my respect for money. If the money was green, I knew it was part of my world; something unique to me which deserved respect. The money had the power to buy me what I needed or even didn 9t need, but it was in my power to control these pieces of paper. Other money was always seen as play money. I could not spend it, therefore it was worthless for its intended use, but really interesting as a souvenir or a glimpse into another place. However, even with the addition of color, the newly redesigned note retains the distinct size, overall look and feel of the old familiar greenback. Other updated features of the new bill are the symbols of freedom; the portraits and scenic vignettes; and a watermark, another feature long used in European countries. $0.31 The two new symbols on this redesigned document both focus on our national bird and symbol of freedom, the American eagle (figure 15). Two of them now appear on the front of the note. The first is found to the left of the portrait of Andrew Jackson in the background. This large blue eagle is representative of those drawn and sculpted during the time period. The smaller eagle on the right is a more contemporary engraving. It is also printed in metallic green ink, which also helps to combat counterfeiting. Both these eagles are specific to the twenty. Symbols of Freedom, as these symbols are known as, will differ for each future denomination. The next element of the redesigned bill is the work done on the portrait of President Andrew Jackson (figure 16) and the White House on the reverse side (figure 17). These two elements traditionally have been confined and formally presented in a frame or border of rules on the bill. These oval borders and fine lines have now been removed and the President has truly been set free. Jackson is now seen as a huge presence on the front of the bill. He dominates the front side and reaches from the bottom of the page all the way up into the top border. Jackson now is a formal bust of the man he was 3 formal and grand. He now has shoulders that have been added to the engraving to complete what was not there before. The White House, the dominating image on the back, has also been set free from its previous borders. The image still retains its oval shape but does not have the confining oval or formal rules. Additional engraved details have been added to fill out the $0.32 figure 15 Two new Symbols of Freedom, the American Bald Eagle, as seen on the newly redesigned United States currency. figure 16 Andrew Jackson does have shoulders and they have been added to the engraving of him on the new face of the twenty dollar bill. vignette 9s background. There are several other features found in the redesigned bill that give the document its new look. One is the inclusion of microprinted text (figure 18). Microprinting is primarily a security feature which is difficult to reproduce due to its size. On the face of the bill, there are two areas where this technique is used. The first is the inscription cUSA20 d which is printed along the border of the new cTWENTY USA d ribbon of type on the right hand side of the bill. The words cTHEUNITEDSTATESOFAMERICA 20 USA 20 d are microprinted in black in the border below the signature of the Treasurer. On the backside is a new low-vision feature (figure 19). The denomination 20 found in the lower right hand corner allows for easier identification for the user. With an ever increasing older population, this feature is increasingly important. 3 The paper that the currency is printed on remains the same. Made by Crane Paper in Massachusetts, the paper is one-fourth linen and three-fourths cotton. It continues to contain red and blue fibers (figure 20) as an additional security feature. Paper production will be discussed at length later. The security thread (figure 21), which is actually a plastic strip embedded in the paper, remains running vertically through the document. Once again, microprinting of cUSATWENTY d and a small flag are on this strip. This thread also glows green $0.33 figure 19 Denominations are larger to allow for low-vision users and easier identification. figure 20 The same identifiable red and blue fibers are still a unique feature of the paper used in printing Unites States currency as made by Crane Paper. figure 17 The White House is taken out of its previous border and is now seen as a soft vignette on the backside of the new twenty. figure 18 Two samples of microprinting on the new bills are seen in the background and border of the face. when held under ultraviolet light. Color shifting ink (figure 22) is used as yet another security feature, but also gives American currency a distinct look. On the twenty dollar bill, the number 20 in the lower right hand corner on the face of the bill changes color as the bill is shifted. The color shifts from copper to green depending on the reflection of light. Lastly, a watermark (figure 23), or faint image, of the figure featured on the bill has been incorporated into the bill. The watermark is actually a part of the paper and, unlike a typical watermark found in fine printing papers, is very closely controlled in position on the paper. Often times a watermark is random throughout the paper, but not here. Found on the right side of the face and in reverse on the back side, the watermark is similar to that of the portrait of Jackson. Faint enough not to be seen when just holding the bill, when held up to light the mark is clearly seen from both sides of the bill. Why Andrew Jackson and Who Chooses? The Secretary of the Treasury is responsible for the selection of the designs, including the portraits, which appear on paper currency. The July 11, 1862 Act of Congress provided: "That the Secretary of the Treasury be, and is hereby authorized, in case he shall think it expedient to procure said notes, or any part $0.34 figure 23 A watermark of the president featured on the face of the bill is actually a part of the physical characteristic of the paper. The tones are seen due to the thickness of paper fibers during the process of making the paper. figure 22 The denomination on the face of new bills shifts color from copper to green when the new notes are tilted. figure 21 The old tradition of a security thread still is a part of the new currency, although today it is actually a thin plastic strip. thereof, to be engraved, printed, and executed, in such form as he shall prescribe, at the Treasury Department in Washington, and under his direction; and he is hereby empowered to purchase and provide all machinery and materials, and to employ such persons and appoint such officers as may be necessary for this purpose." 4 The portraits currently appearing on the various denominations of paper currency were adopted in 1929, when the size of the notes was reduced. Prior to the adoption of this smaller sized currency, a special committee was appointed by the Secretary of the Treasury to study this aspect of the design. It was determined that portraits of Presidents of the United States have a more permanent familiarity in the minds of the public than any others. This decision was somewhat altered by the Secretary of the Treasury to include Alexander Hamilton, the first Secretary of the Treasury; Salmon P. Chase, the Secretary of the Treasury during the Civil War and credited with promoting our National Banking System; and Benjamin Franklin, one of the signers of the Declaration of Independence. All three of these statesmen were well known to the American public. Treasury Department records do not reveal the reason that portraits of these particular statesmen were chosen in preference to those of other persons of equal importance and prominence. $0.35 Frequently Used Portraits on United States Paper Money NoteFaceBack $1 George Washington The Great Seal of the United 1st U.S. President States $2 Thomas JeffersonSigning of the Declaration of 3rd U.S. PresidentIndependence $5 Abraham LincolnLincoln Memorial 16th U.S. President $10Alexander Hamilton U.S. Treasury Building 1st Secretary of the Treasury $20Andrew Jackson White House 7th U.S. President $50Ulysses Grant U.S. Capitol 18th U.S. President $100Ben Franklin Independence Hall Statesman $500*William McKinley Numeral 500 and the ornamental 25th U.S. President phrase "Five Hundred Dollars" $1000*Grover Cleveland Numeral 1000 and the ornamental 22rd & 24th U.S. Presidentphrase "One Thousand Dollars" $5000*James Madison Numeral 5000 and the ornamental 4th U.S. President phrase "Five Thousand Dollars" $10,000*Salmon Chase Numeral 10,000 and the ornamental $0.36 U.S. Treasury Secretary phrase "Ten Thousand Dollars" under Lincoln $100,000 Note* Woodrow Wilson Numeral 100,000 and the ornamental 28th U.S. President phrase "One Hundred Thousand Dollars". This $100,000 note never appeared in general circulation, and was only used in transactions between Federal Reserve Banks. * = Notes no longer in print or circulation JSG cJust Some Guy d Boggs Others have a different view of who should be featured on the currency. J.S.G. Boggs, a controversial artist, even known as America 9s premiere money artist, has offered his own variations. Boggs has drawn the wrath of the Secret Service. Why? Boggs not only makes his own cash, he also cspends d it. Boggs says that people often make a fundamental mistake. They ask, "What differentiates money from art?" He answers, cMoney is art. It's pictures and pigment on paper. It's portraiture, it's landscape, it's abstract geometric. And it is the ultimate abstract art. It's a symbol for something else. d 4 He says that money is the most public of public arts, and it has to catch up and reflect our society today. Who truly makes up America? Do the people portrayed on the currency really $0.37 represent the face of all those who made America the country it is today? Boggs says no and proposes his own series for American currency. On one of his one hundreds, he pays tribute to the leader of the Underground Railroad, Harriet Tubman. He chose Harriet Tubman because she fits all the criteria for whom we should have on our money. She was a great American hero who risked her freedom for right in the face of all adversity. That is everything that we worship as Americans. To keep his currency and art current, Boggs often asks people on the street who they would like to see on currency. He often hears a woman's name: someone that is well-respected by the United States as a whole. Is it possible to come up with a face like that? Why not make a composite sketch of what an American looks like? They are big and jowly. Put different ethnic features in a face protruding through the bill, and that is your composite sketch. That is who an American is. While Boggs is the art world's most renowned money man, he is not the only artist with novel proposals for a new US currency. Others have followed in Boggs 9 foot- steps and have created bills that honor a range of great Americans, from Martha Graham to Martin Luther King. Some stay with traditional historic icons like Benjamin Franklin, heeding tradition. But is simply the creation of this document making money? Boggs believes, as does the history of currency, that a transaction must take place. You get something for the $0.38 exchange of the paper in your pocket. Thus Boggs seeks out transactions, legitimate transactions, to convert his art into true currency. Typically this process takes the form of a trade. There is no deception involved, lest the transaction be confused for counterfeit. Boggs finds something he wants and offers his art as payment for the good 3 be it a book, a hotel room, even plots of land. Once the transaction is completed the art now is currency. The value is set by what you can get for it, much like our current economy itself. Dollarization All countries have their own currency. Some countries accept the American dollar for purchases, to borrow and to save. Because of this trend, countries around the world have become dollarized. Dollarization is such a major trend that many countries are considering abandoning their own national currency and adopting the ever so popular American dollar as their official currency. 5 Argentina and El Salvador have shown an interest in adopting the dollar, and Panama has already become officially dollarized. Official dollarization simply means that a country has eliminated its own currency and recognizes the American dollar as legal tender. Businesses can pay their employ- ees, pay their debts and settle contracts with the currency. Consumers can make their daily purchases with the dollar, and the government would accept the dollar for payment of taxes and other debt. Foreign territories have used their ruling country 9s currency, but it is when a self-ruled country adopts a foreign currency as its own $0.39 that dollarization truly occurs. There are many political and economic reasons a country would consider becoming dollarized, but, for the purposes of this research, it is most important to be aware of this trend when considering the aesthetic appearance of the American dollar. Europe has recently completed its initial version of dollarization with the introduc- tion of the euro. Several countries in the European community have become a part of a common currency, losing their individual currencies for a common currency used across borders and maintaining a stable and common rate. But it has affected national pride. Steven Gagnon and Dollarization Steven Gagnon, a Miami-based artist, has celebrated both the dollar and America in his art. His most noted piece, cThe American Way (figure 24), d celebrates all that is America in his flag painted on an actual sheet of uncut dollar bills. In his statement, Gagnon says: cI was inspired to make this piece because I wanted to make an image that could symbolize American culture that would relate to all Americans regardless of their race, nationality, religious, or political backgrounds. I wanted to create an image that would overlook these differences and find a common thread that could represent a nation of $0.40 figure 24 cAmerican Way d by Steven Gagnon is actually painted on an uncut sheet of one dollar bills. © 1999, Steven Gagnon such diversity. The dollar is a symbol of America as much as the flag. It is respect

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