News


DATE=5/21/98
TYPE=CORRESPONDENT REPORT
NUMBER=2-232611
TITLE=U-S DOLLAR/BILL (L-ONLY)
BYLINE=HELENE PAPPER
DATELINE=WASHINGTON
CONTENT=
VOICED AT: 

INTRO:  AMERICA'S MOST POPULAR NOTE - THE 20 DOLLAR BILL - IS 
GETTING A NEW LOOK. BUT ESTHETICS ISN'T THE PURPOSE OF THE NEW 
BILL .  AS V O A'S CORRESPONDENT HELENE PAPPER  REPORTS IT'S MAIN
GOALS IS TO PREVENT COUNTERFEITING AND HELP THE BLIND.  



TEXT:   FIRST IT WAS THE HUNDRED, THEN THE 50. NOW IT'S TIME FOR 
THE 20 DOLLAR BILL TO GET A FACE LIFT. THIS SECOND MOST USED 
CURRENCY AFTER THE ONE DOLLAR NOTE IS ALSO ONE OF THE MOST 
COUNTERFEITED BILLS. 

THE NEW 20 DOLLAR BILL WILL HAVE SPECIFIC FEATURES AIMED AT 
DISCOURAGING COUNTERFEITING. IT WILL BE VERY SIMILAR TO THE 
ALREADY REDESIGNED 100 DOLLAR AND 50 DOLLAR BILLS WITH AN 
ENLARGED OFF-CENTER PORTRAIT, CLEANER LINES AND MORE BLANK SPACE.

TREASURY SECRETARY ROBERT RUBIN SAYS THE NEW FEATURES ARE DESINED
TO STAY A STEP AHEAD OF THE DEVELOPMENT OF SOPHISTICATED 
TECHNOLOGIES SUCH AS COLOR PRINTERS OR COMPUTER SCANNERS. NEW 
FEATURES INCLUDE A GREEN POLYMER THREAD RUNNING ACCROSS THE BILL 
WITH USA 20 AND A FLAG BURNT INTO IT. MR. RUBIN SAYS THE NEW BILL
SHOULD PUT A HALT ON THE SMALL YET CONTINUING INCREASE OF 
COUNTERFEITING :

                             /// RUBIN ACT ///

         AND WHAT WE'RE HOPING IS THAT CONSUMERS, CASH HANDLERS, 
         RETAIL PEOPLE AND OTHERS WHEN THEY GET A 20 WILL TAKE A 
         QUICK LOOK AT IT AND SEE IF IT'S A REAL BILL OR NOT A 
         REAL BILL. BY DOING THAT WE THINK WE CAN MAKE THE 20 
         WHICH IS ALREADY ... THEY'RE ALL VERY SECURE... THE 
         PERCENTAGE OF COUNTERFEITING IS A VERY VERY SMALL 
         PERCENTAGE OF TOTAL BILLS. WE CAN MAKE IT EVEN MORE 
         SECURE IF WE PUT THE RIGHT FEATURES ON AND IF PEOPLE ARE
         CAREFUL USING THEM.

                       /// END ACT ///

MR.RUBIN SAYS THE NEW FEATURES ARE ESPECIALLY CREATED FOR 
IMMEDIATE COUNTERFEIT RECOGNITION. 

EXTERNAL DIVISIONS MANAGER AT THE BUREAU OF ENGRAVING AND 
PRINTING, EDWARD SHEEHAN, SAYS THE FEATURE WHICH CAN HELP PEOPLE 
IMMEDIATELY RECOGNIZE A FALSE 20 DOLLAR BILL FROM A REAL ONE IS 
THE COLOR SHIFTING INK. HE SAYS BY MOVING THE BILL, THE NUMBER 20
ON THE RIGHT LOWER CORNER SHOULD SWITCH THE COLOR FROM GREEN TO 
BLACK -- IF NOT THE BILL IS PROABABLY FAKE.

BUT COUNTERFEIT PROTECTION IS NOT THE ONLY PURPOSE OF THIS NEW 20
DOLLAR BILL. MR.SHEEHAN SAYS IT WILL ALSO BE VERY USEFUL TO THE 
NATION'S TWO-HUNDRED THOUSAND BLIND PEOPLE. THE NOTE WILL INCLUDE
AN INVISIBLE FEATURE OFFICIALS HOPE WILL LEAD TO THE DEVELOPMENT 
OF INEXPENSIVE MONEY-READING MACHINES. SUCH MACHINES ALLREADY 
EXIST BUT  COST AN AVERAGE OF 400 DOLLARS EACH. THE NEW IMPROVED 
FEATURE WILL NEED A MUCH SIMPLER MACHINE TO READ IT. AND 
MR.SHEEHAN SAYS THIS NEW FEATURE IS SIMPLE ENOUGH FOR USE IN 
GENERATIONS OF BILLS TO COME. 

                           /// SHEEHAN ACT ///

         THIS IS A SIMPLE FEATURE THAT CAN BE EASILY CARRIED OVER
         INTO FUTURE GENERATIONS OF CURRENCY REGARDLESS OF 
         DESIGN.

                           /// END ACT ///

MR.SHEEHAN SAYS CREATING A NEW BILL IS COSTLY, WHICH IS WHY THE 
TREASURY DEPARTMENT WANTS TO CREATE PAPER MONEY WITH FEATURES 
DESIGNED TO STAY CURRENT.

                        /// SHEEHAN ACT  ///

            A NEW CURRENCY NOTE COSTS FIVE-POINT-TWO CENTS PER 
            NOTE WHEREAS THE OLDER STYLE CURRENCY COSTS THE 
            FEDERAL RESERVE ABOUT FOUR CENTS A NOTE.  SO THERE IS
            AN INCREASED COST WITH GOING TO THE NEW DESIGN 
            CURRENCY BUT IT HAS SECURITY DEVICES THAT HELP THWART
            COUNTERFEITING WHICH MAKES THE EXTRA COST WORTHWHILE.

                           /// END ACT ///

THE NEW BILL WILL START CIRCUALTING IN SEPTEMBER. (SIGNED)



NEB/HP/PT





21-May-98 5:35 PM EDT (2135 UTC)
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Source: Voice of America
.