New name on the money: Henry, not Hank

[Ron Burgundy]

AP - It isn't easy being green. Nor is it easy being Hank. Apparently. Treasury Secretary Henry Paulson opted to use his formal name — Henry M. Paulson Jr. — for U.S. currency notes which will now bear his signature along with that of Anna Escobedo Cabral, the Treasurer of the United States.

Paulson took a tour of the Bureau and Engraving Printing printing facility on Monday to get a first-hand look at new $20 bills with his signature.

Each business day, the bureau produces roughly 38 million notes with a face value of approximately $696 million.

Since the introduction of smaller-sized notes in 1929, 25 Treasury secretaries and 16 Treasurers have had their signatures on U.S. currency.

The BEP began preparing for production of Paulson's signature on his first day in office in July. The bureau's engravers transferred his signature to the steel plates that are used to print all new paper currency.

The new currency with Paulson's signature will be sent to the Federal Reserve for distribution to commercial banks as needed to replace worn out notes.

Paulson, who was led on the tour by BEP Director Larry R. Felix, stopped to inspect a pile of uncut sheets of $20 bills with his signature and also tried to chat with press room workers over the din of the noisy plant.

___

On the Net:

Treasury Department: United States Department of the Treasury - Home