Currency Signed by Cabral

Secretary Snow to Join Treasurer to Unveil Currency Signed by Cabral

Treasury Secretary John W. Snow will join Treasurer Anna Escobedo Cabral next week at the Bureau of Engraving and Printing (BEP) for the unveiling of the first paper currency with the new Treasurer's signature. The Secretary and Treasurer will witness the final stages of the printing process of the first notes with Treasurer Cabral's signature at 1:30 p.m. on April 26 at the BEP's printing facilities located at 14th and C Streets S.W. in Washington, D.C.

"Having my signature on the U.S. currency is a tremendous honor; sharing that honor with Anna Cabral is priceless. Like the bills that her signature will grace, Anna is a representation of that which makes America great. She is an enormously accomplished woman and one of the finest leaders we have in government today. I'm thrilled to see her signature on the currency, and I know the President is delighted to have her serving in his Administration. She is an invaluable asset to the Treasury and to her country," said Secretary Snow.

Immediately following the unveiling of the new notes, the Secretary and Treasurer will kick off Treasury's participation in a nationwide effort to teach children the importance of saving. Partnering with the American Bankers Association Education Foundation, more than 20 Treasury officials will join local bankers in classrooms across the country for the ninth annual Teach Children to Save Day on April 26. Secretary Snow and Treasurer Cabral will highlight these efforts by speaking to a group of fifth-graders from Seaton Elementary in Washington, D.C. at the BEP about the importance of financial education. For more information on this event, go to: treasury.gov/press/releases/.

The currency unveiling will be pool coverage only.

All media are welcome to cover the financial education lesson at the BEP. Press wishing to attend this portion of the event must call (202) 874-2778 by 3 p.m. EST, Monday, April 25 with name, media organization, and phone number for security clearance.

The signatures of Secretary Snow and Treasurer Cabral were transferred by the BEP's engravers to steel plates, which will be used to print all new U.S. paper currency. Since the introduction of the smaller-size notes in 1929, the signatures of 24 Treasury Secretaries and 16 Treasurers – including Secretary Snow and Treasurer Cabral – have appeared on U.S. paper currency.

The new $1 Series 2003 A Snow-Cabral notes are expected to be sent to the Federal Reserve by the end of April for distribution as needed.

Each business day, the BEP produces roughly 38 million notes with a face value of approximately $696 million. An estimated $719 billion in U.S. paper currency is currently in circulation worldwide.

SOURCE: United States Department of the Treasury April 22, 2005 JS-2405