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Topics: Donald Trump, US News, Money, News, Politics
Rhianna Benson
Topics: Donald Trump, US News, Money, News, Politics
Donald Trump made history this week, simultaneously ending an American tradition that's lasted over 165 years.
The Republican leader became the first sitting President of the United States to have his signature rolled out on dollar bills.
It was the country's Treasury Department that broke the news on Thursday (26 Mar), claiming the decision to feature 79-year-old Trump on the bills served to mark the 250th anniversary of America.
Treasury Secretary Scott Bessent gushed in an official statement: "There is no more powerful way to recognise the historic achievements of our great country and President Donald J. Trump than U.S. dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial."
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He stated that Trump's contribution to the currency is appropriate, referencing the alleged economic growth and financial stability since Trump's return to office.
The move is the latest in a series of instances in which Trump has associated his name with national landmarks.
Upon being sworn into the White House for a second time last January, he announced plans to rename the 'Institute of Peace' to 'Donald J. Trump Institute of Peace', and the 'Kennedy Centre' to the 'Trump Kennedy Centre'.
Just last week, a Trump-appointed federal arts panel approved the release of a commemorative gold coin bearing the image of the businessman-politician.
His attempt to introduce a circulating $1 coin in his image was previously shut down by lawmakers, who pointed out the long-standing prohibition of coins depicting living people.
Previously, the US Treasurer was the individual responsible for signing the country's paper notes - a tradition that has lasted since 1861.
The duties of this individual are to report to the Secretary - in this case, Bessent - as well as oversee the Bureau of Engraving and Printing, handle the US Mint, and fulfil other day-to-day treasury functions.
Currently, Treasurer Brandon Beach will not have his name appear on any notes.
Apparently, however, he's fine with it, describing the President as the architect of a 'golden age economic revival'.
The new redesigned $100 bills, upon which Trump will appear, will be rolled out in June.
Other value notes will be introduced in the months that follow, but may take several weeks to be processed through bank systems, according to Reuters.
Notes bearing the signature of Lynn Malerba, the former Treasurer who served under Trump's presidential predecessor, Joe Biden, will still be in circulation.
While Malerba reportedly declined to comment on the matter when approached by Reuters, the Treasurer that came before her, Jovita Carranza, who served Trump in his first term (2016-2020), claimed she greatly supported the initiative.
She hailed the change as 'a powerful symbol of American resilience, the enduring strength of free enterprise and the promise of continued greatness'.