Wallet
Russians accepted new dollars well
The questions of the magazine "Watermark" are answered by the director of the Bureau of engraving and printing of the USA Treasure Thomas Ferguson
— Mr. Ferguson, what is the obligations of the Bureau of engraving and printing?
— The Bureau of engraving and printing is responsible for working out design, engraving and printing all paper money of the USA. One of the world leaders in the field of special printing, the Bureau is issuing also post stamps, invitations for the white House parties, treasure certificates and other state valuable papers of the USA.
— Where and how are the banknotes printed? Can average citizens see the process of the banknote producing?
— All paper money of the USA are printed at two factories. One factory is located in Washington, another one- in the city Ford-Wert ,Texas. At the factories there are 2400 employees, providing per day about 37 million banknotes of 696 million dollars value totally. For banknote printing 24 high-speedy machines are used. The overall technological process of one banknote printing takes about four weeks.
At the factory in Washington there are excursions guided, very popular and attractive for about 250 thousand visitors annually. During the excursion it"s possible to see the whole process of currency making, from big white paper sheets to banknotes ready for usage. In April this year the factory in Fort-Wert will open a center for visitors, where everybody will be able to get acquainted with all stages of dollar manufacturing and to attend interactive museum of monetary signs history.
— Last year the USA Treasure carried out large scale campaign of informing the population of Russia and other countries about new design of 20-dollar banknotes. Could you tell in details the way the program was spent in Russia?
— The campaign of informing population of the countries all over the world about strengthened protective elements of 20-dollars banknotes of the new model was carried out with an active cooperation of the Bureau of engraving and printing and Federal reserve system of the USA with The Bank of Russia. Our main target was explaining Russians that dollars of old and new kind had equal cost and would be in circulation the same time without time limits.
The informative program meant arranging seminars, trainings and conferences all over the country. With the help of Russian language site and electronic bulletin "Banknote" the information was spread within Russian territory. Just before taking into circulation the new 20-dollar banknote there was an advertising campaign in press mass-media, on TV and radio.
The Central bank of Russian Federation made a great contribution into successful carrying social-educative program. The Bank of Russia has spread more than 400 thousand informative brochures among commercial banks. Brochures and posters with representation of the new banknote were delivered to each of 16 thousand exchange posts of the country. I"d like to mark also active participation of representatives of Russian commercial banks in regional informative seminars, organized in all federal districts of Russian Federation.
The analogous informative program is planned for this year too, because of introducing into circulation a new 50-dollar banknote. We rely on keeping cooperating with the Bank of Russia and its support very much. I know that many Russians are expecting entering 100-dollar banknote of new design. Most likely it will happen in 2005.
— How did Russians accept the information about new dollar? Did you allow for peculiarities of Russia and mentality of its citizens while carrying out the informative campaign?
- We are very satisfied with the way the program of informing Russian population was made and taken. Two third cash dollars are known to be circulated outside the USA. All people, keeping their money in dollars, regardless of their living in Saint-Petersburg in Russia or in Saint-Petersburg in Florida, the USA, needed to inform the principal data about the new 20-dollar banknote- the elements of its protection, the colour of the banknote and the date of its entering into circulation.
The main target of the informative campaign in Russia was to convince the population of the absence of necessity to exchange old banknotes to new ones -20-dollar banknotes of old style will be used without any time limits and will have the same cost with 20-dollar banknotes of new style. The national currency of the USA is generally accepted symbol of safeness and unity. We do our best to keep this status.
Surely while making the informative campaign we took into consideration the peculiarities of Russian people mentality. In it we were good supported by the Bank of Russia, bank and business association, having representatives all over the country.
— How do you estimate the results of the informative campaign in Russia?
- Taking into circulation 20-dollar banknotes of new style went smoothly in Russia. This is the most important appraisal of our informative program. We succeeded in informing the population the principal ideas- uselessness of exchange, equality of the banknotes of old and new styles.
We were pleasantly surprised by the results of the sociological survey, made in Russia: 68% of the survey members knew about new design of American currency and more than 74% of them were able to call at least one of the basic elements of protection of the new dollar banknote.
— It was not the first time for the USA Treasure to change the dollar design. Are there any principal differences of present informative program from the campaigns of 1998 and 1996?
— Yes, in fact, mastering American currency design happens regularly, every 7-10 years. It lets us be one step forward than counterfeiters. While carrying out the informative campaign of taking into circulation 20-dollar banknote of new style we used new tactic methods, and we will keep them while making programs of informing the population about design changing 50- and 100-dollar banknotes. It was the first time when there was an advertising campaign, informing about strengthened protective elements and the special features of the design of new 20-dollar banknotes. We also paid special attention to drawing up meaningful web-site, which is now a source of information for both specialists and average people. At last, for getting the most effectiveness of our program we are making sociological survey, using its results for the program correction.
While having the informative campaign last year it was important for us to bring to the owners of dollars in Russia the information about the changes in the banknote design. The most remarkable of them are the following: appearance of fair background with green, peach and blue shades, enlarged representations of the portrait of the USA president Andrew Jackson on the facial side and the White House on the back one, background representation of a blue eagle, placing on the left of the president portrait and a representation of a shield and an eagle of green metallic colour- on the right of it.
— What was the principle for selecting state authorities of the USA, whose portraits were placed on the banknotes?
— Since 1929 the portraits of the same state authorities have been printed on the monetary signs of the USA. All the elements of the banknotes design, including the portraits, are confirmed by the secretary of the USA Treasure.
The material is prepared by PBN agency
