FROM THE OFFICE OF PUBLIC AFFAIRS

Treasury Secretary John W. Snow and U.S. Treasurer Rosario Marin today provided their signatures to the Bureau of Engraving and Printing (BEP) for use on Series 2003 U.S. paper currency.

“Having my signature on the currency of this nation is a great honor,” said Secretary Snow. “The swift enactment of the President’s Jobs and Growth plan will ensure that more of these notes stay in the pockets of the American family.”

The signatures of Secretary Snow and Treasurer Marin will be 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 15 Treasurers – including Secretary Snow and Treasurer Marin – have appeared on U.S. paper currency.

The BEP expects to begin production of $1 Series 2003 Snow-Marin notes by April 2003 once the engraved plates are completed. The paper currency is expected to be sent to the Federal Reserve by July 2003 for distribution as needed.

Each business day, the BEP produces roughly 38 million notes with a face value of approximately $696 million. An estimated $641 billion U.S. paper currency is currently in circulation worldwide.