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The Daily

Ben Bernanke: Don't Drop Hamilton from $10 Bill, Drop Jackson from $20 Bill

Chris Gaetano
Published Date:
Jun 23, 2015
800px-Ben_Bernanke_official_portraitFormer Chairman of the Federal Reserve Ben Bernanke said that the Treasury Department should drop its recently mentioned plans to put a woman on the ten dollar bill in place of Alexander Hamilton. Instead, he said that the country should drop Andrew Jackson from the $20 bill and put a woman in his place instead, according to the New York Post. Bernanke said that Hamilton, the first secretary of the Treasury, was among the greatest of the country's founders, versus Jackson, who Bernanke said was a "man of many unattractive qualities and a poor president." 

Among Jackson's more notable acts during his presidency was dismantling the Second Bank of the United States which, like the Federal Reserve today, regulated public bank credit issued by private banks through the fiscal duties it performed for the U.S. Treasury, and oversaw the creation and maintenance of a national currency. Jackson and his supporters, who disliked the idea of paper money in general, believed the bank's existence was unconstitutional and threatened state sovereignty. 

So naturally, one might presume that Bernanke, who headed the country's current central bank from 2006 to 2014, may not have the highest regard for the man.