After having struck a commemorative gold coin with his effigy, renaming numerous buildings in his name (including the Palm Beach airport in Florida), the American president is reaching a new milestone in what seems to be the establishment of a cult of personality. Donald Trump will now be putting his signature on American banknotes.
This decision, endorsed by the Treasury on Thursday, March 26, disrupts the iconic tradition of the dollar, the world’s most powerful currency. This is an unprecedented act. Until now, no American leader’s signature has ever appeared on the greenbacks.
Since 1861, the only signature printed on paper dollars was that of the Secretary of the Treasury (equivalent to the Minister of Finance). An administrative mark to signify that the bill was issued by the federal government. This signature also entails the personal responsibility of the US Treasury representative, who promises that the bill is worth its face value.
Distinguishing from monarchies
The Trump signature will symbolize a symbolic rupture. “There is no more powerful way to recognize the historic achievements of our great country and President Donald Trump than with dollar bills bearing his name,” justified Finance Minister Scott Bessent.
Historical figures honored posthumously
In 1869, Abraham Lincoln became the first president (1861-1865) to appear posthumously on American banknotes. He was chosen for his heroic role in preserving the Union. Others will follow.
The official gallery of national heroes worthy of appearing on currency was fixed in 1929, on the occasion of a major reform aiming to unify the currency. A unique design is set for each bill: George Washington on the $1 bills, Abraham Lincoln on the $5 bills, Benjamin Franklin on the $100 bills, and so on. The selected personalities are carefully chosen and selected because they are widely recognized by the public and represent significant moments in American history.
The appearance of US banknotes had not undergone major changes since then. Ten years ago, a petition with 600,000 signatures proposed introducing the figure of Harriet Tubman, an African-American heroine in the fight against slavery, on the $20 bills. The project, validated under Obama, was halted by Donald Trump during his first term.
As for the signature of the current White House occupant, it will appear on the $100 bills printed as early as June. The Treasury indicated that it will then be expanded to other denominations.
