IMPROVING THE BUREAU OF ENGRAVING AND PRINTING - Jim Colyer

4 WAYS MANAGEMENT MIGHT IMPROVE EFFICIENCY AT THE BUREAU OF ENGRAVING AND PRINTING 1 Put Ronald Reagan's portrait on the $10 note. There has been talk of this for some time. Reagan was a popular president who served two terms. He appealled to both Democrats and Republicans. He is credited with outlasting the Soviet Union and winning the Cold War. Even though Alexander Hamilton, presently on the $10 bill, was the first Secretay of the Treasury, few American know this. Hamiton was not a man to inspire. He was actually killed in a duel with Thomas Jefferson's vice-president, Aaron Burr. Ronald Reagan on the $10 bill would give money a modern touch to complement its historical significance. 2 Make notes so they last longer. Paper money presently stays in circulation about two years. This is a short time. Paper money is not really paper. It is material, a fabric. It is 75% cotton, 25% linen. That is why it does not fall to pieces when it gets wet. Managment within the Treasury Department and BEP need to change the composition of notes to give them greater durability, to make them last longer. The longer the lifespan, the less note have to be printed. The overall cost is reduced, and the government and taxpayers benefit. 3 Bureau engravers are using outmoded technology. Tradition is fine, but we are living in the computer age. Computers can be used to replace old-fashioned printing machines and techniques. Counterfeiters are are on the cutting edge. The U.S. government needs to update. 4 Continue adding color to bills to thwart counterfeiters. The $5 bill should be redesigned. A lot of bogus money can be produced in that denomination.
JIM COLYER