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The Color of Money is Changing
Aired May 13, 2003 - 15:23 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CANDY CROWLEY, CNN ANCHOR: The color of money is changing, starting with the $20 bill. Treasury officials today unveiled a new $20 featuring subtle blue, peach and copper colorings. Despite the changes, our Bruce Morton reports there's still only one color that really matters.
(BEGIN VIDEOTAPE)
BRUCE MORTON, CNN NATIONAL CORRESPONDENT (voice-over): The folks at the Bureau of Engraving and Printing were excited. Money music before the press conference started. Big stuff ahead.
THOMAS FERGUSON, BUREAU OF ENGRAVING AND PRINTING: With due respect to my wife and children, it's almost as exciting as the birth of a child.
ROSARIO MARIN, U.S. TREASURER: It's really like giving birth. Of course he doesn't know what it is to give birth, but I do.
MORTON: The baby, so to speak is a new $20 bill. It will be out later this year and it's the first American bill since the 1905 series to use colors other than green and black. Big names were there.
ALAN GREENSPAN, FEDERAL RESERVE CHAIRMAN: My only chagrin is that in asking for a free sample, I was rebuffed.
MORTON: The new note should make counterfeiting harder. Not a huge problem, of course.
W. RALPH BASHAM, SECRET SERVICE DIRECTOR: Estimates are that one or two of every 10,000 notes may be counterfeited.
MORTON: Still, counterfeiting is why the currency redesign process never stops.
JOHN SNOW, TREASURY SECRETARY: As soon as the current $20 note was introduced in 1998, work immediately began on the new design that you are about to see.
MORTON: OK. Color. Let's see. Not a lot of color. Maybe the eagle is kind of blue, yes, and the numeral 20 changes color in the light and looks gold here. But not lots of color.
The Europeans, now they understand about color and money. Look at those euros. Bright.
We Americans understand about color in fear. Just look at those bright terror alerts. But money, we know it's green.
Greenbacks. The word is part of our language. Long green, big green. So, OK, it's going to have a dab of color. But we'll all know it's still green. Bruce Morton, CNN, Washington.
(END VIDEOTAPE)
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired May 13, 2003 - 15:23 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CANDY CROWLEY, CNN ANCHOR: The color of money is changing, starting with the $20 bill. Treasury officials today unveiled a new $20 featuring subtle blue, peach and copper colorings. Despite the changes, our Bruce Morton reports there's still only one color that really matters.
(BEGIN VIDEOTAPE)
BRUCE MORTON, CNN NATIONAL CORRESPONDENT (voice-over): The folks at the Bureau of Engraving and Printing were excited. Money music before the press conference started. Big stuff ahead.
THOMAS FERGUSON, BUREAU OF ENGRAVING AND PRINTING: With due respect to my wife and children, it's almost as exciting as the birth of a child.
ROSARIO MARIN, U.S. TREASURER: It's really like giving birth. Of course he doesn't know what it is to give birth, but I do.
MORTON: The baby, so to speak is a new $20 bill. It will be out later this year and it's the first American bill since the 1905 series to use colors other than green and black. Big names were there.
ALAN GREENSPAN, FEDERAL RESERVE CHAIRMAN: My only chagrin is that in asking for a free sample, I was rebuffed.
MORTON: The new note should make counterfeiting harder. Not a huge problem, of course.
W. RALPH BASHAM, SECRET SERVICE DIRECTOR: Estimates are that one or two of every 10,000 notes may be counterfeited.
MORTON: Still, counterfeiting is why the currency redesign process never stops.
JOHN SNOW, TREASURY SECRETARY: As soon as the current $20 note was introduced in 1998, work immediately began on the new design that you are about to see.
MORTON: OK. Color. Let's see. Not a lot of color. Maybe the eagle is kind of blue, yes, and the numeral 20 changes color in the light and looks gold here. But not lots of color.
The Europeans, now they understand about color and money. Look at those euros. Bright.
We Americans understand about color in fear. Just look at those bright terror alerts. But money, we know it's green.
Greenbacks. The word is part of our language. Long green, big green. So, OK, it's going to have a dab of color. But we'll all know it's still green. Bruce Morton, CNN, Washington.
(END VIDEOTAPE)
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
