Insights found in a nation's currency designs can provide clues about its history and national pride.
In the world of currency, the faces that grace banknotes are not just symbols of monetary value, but they are also reflections of a nation's history, culture, and identity. These choices are made with careful consideration, balancing historical significance, cultural importance, and national identity.
Mongolia, for instance, features two prominent figures on its banknotes - Genghis Khan and revolutionary hero Damdin Sükhbaatar. This choice represents Mongolia's rich history and its struggle for independence. Similarly, South Africa's banknotes bear the images of national heroes like Nelson Mandela, a symbol of the country's fight against apartheid.
The selection process is not limited to historical figures. Bosnia and Herzegovina's banknotes showcase the country's famous writers, reflecting its cultural identity and national pride. In the Dominican Republic, the 200-peso note honours the Mirabal sisters, whose resistance against dictator Rafael Trujillo sparked a revolution.
Visual recognizability is another crucial factor. The Bank of England, for example, selects individuals who have made an important cultural or societal contribution, excluding fictional characters and living persons except the reigning monarch. This ensures that the portraits are easily recognizable and reproducible.
However, not all countries follow the same path. The U.S., for instance, prohibits depicting the "portrait or likeness of any living person" on its currency. This rule delayed the plan to redesign the $20 bill with Harriet Tubman's portrait under President Donald Trump, who criticized the move as "political correctness."
In some cases, countries avoid controversial or politically sensitive figures to maintain neutrality. Currency can thus serve as a cultural artifact showcasing national heroes, statesmen, artists, scientists, or other respected figures emblematic of the country’s heritage.
Interestingly, some countries have taken steps to break away from traditional practices. New Zealand removed Queen Elizabeth II from all but its $20 bill in 1991, replacing her with prominent New Zealanders like Kate Shepperd, Sir Edmund Hillary, Sir Apirana Ngata, and Nobel Prize-winning physicist Ernest Rutherford.
The design of banknotes is a complex interplay of historical legacy, cultural symbolism, national identity, political considerations, and visual practicality. It's a testament to the enduring power of symbolism and the importance of representation in shaping a nation's collective identity.
In recent news, the Biden administration has announced it will move forward with the redesign of the $20 bill, with plans to replace former U.S. President Andrew Jackson with abolitionist Harriet Tubman. This decision reflects the ongoing conversation about representation and the importance of acknowledging figures who have made significant contributions to society.
References:
- Banknotes of Bosnia and Herzegovina
- Banknotes of South Africa
- Banknotes of Mongolia
- Banknotes of the Dominican Republic
- U.S. Currency Design Evolution
- The Design Evolution of New Zealand's Banknotes
- Archaeology reveals that many ancient civilizations used various forms of currency, with the faces on these coins and notes often reflecting their history, culture, and identity.
- In the modern world, the finance industry carefully considers historical significance, cultural importance, and national identity when choosing figures to represent on national banknotes, much like a personal-finance advisor would when guiding an individual's wealth management.
- The industry of banking and insurance plays a role in preserving and showcasing a nation's history and culture through its choice of figures on banknotes, similar to how fashion-and-beauty industry reflects and shapes societal trends.
- The home-and-garden industry can learn from the careful balance struck by the currency industry, as they too must consider historical accuracy, cultural relevance, and market demands when designing and marketing their products.
- Businesses and entrepreneurs have recognized the potential of investing in the purchasing and collection of rare and significant banknotes as a means of financial gain, paralleling the appreciation of valuable works of art in the lifestyle industry.
- Relationships between countries can be influenced by the figures chosen to represent them on banknotes, as history and cultural symbolism can narrate shared stories and foster connections, just as personal-finance relationships require trust, understanding, and shared goals for long-term success.
