Save the Greenback
Encyclopedia
Save the Greenback is an organization of U.S. Bureau of Engraving and Printing
employees and paper and ink suppliers opposed to phasing out the paper dollar
. The group formed to counter the influence of the Coin Coalition
.
Public opinion has tended to favor the dollar bill, although in 2000, the Government Accountability Office
reported that a full implementation of the dollar coin could save $500 million a year. 'Save the Greenback' successfully prevented a dollar bill phaseout with the help of legislators influenced by special interest groups including Mississippi Senator Trent Lott
and Massachusetts Senator Ted Kennedy
. Lott's constituency included the powerful cotton industry, which produces fabrics used in the paper dollar; Kennedy's included the Crane Paper Company
which produces American banknote paper.
used the group's name in a car discount campaign. In the TV campaigns, the group was portrayed as a group similar to Greenpeace
, with a mission to save money.
Bureau of Engraving and Printing
The Bureau of Engraving and Printing is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is paper currency for the Federal Reserve. The Federal Reserve itself is...
employees and paper and ink suppliers opposed to phasing out the paper dollar
United States one-dollar bill
The United States one-dollar bill is the most common denomination of US currency. The first president, George Washington, painted by Gilbert Stuart, is currently featured on the obverse, while the Great Seal of the United States is featured on the reverse. The one-dollar bill has the oldest...
. The group formed to counter the influence of the Coin Coalition
Coin Coalition
The Coin Coalition is an organization supporting the elimination of pennies and dollar bills from U.S. currency. It is funded by vending machine companies, video arcade owners, and the soft drink industry, who all have an interest in eliminating maintenance costs associated with dollar bill...
.
Public opinion has tended to favor the dollar bill, although in 2000, the Government Accountability Office
Government Accountability Office
The Government Accountability Office is the audit, evaluation, and investigative arm of the United States Congress. It is located in the legislative branch of the United States government.-History:...
reported that a full implementation of the dollar coin could save $500 million a year. 'Save the Greenback' successfully prevented a dollar bill phaseout with the help of legislators influenced by special interest groups including Mississippi Senator Trent Lott
Trent Lott
Chester Trent Lott, Sr. , is a former United States Senator from Mississippi and has served in numerous leadership positions in the House of Representatives and the Senate....
and Massachusetts Senator Ted Kennedy
Ted Kennedy
Edward Moore "Ted" Kennedy was a United States Senator from Massachusetts and a member of the Democratic Party. Serving almost 47 years, he was the second most senior member of the Senate when he died and is the fourth-longest-serving senator in United States history...
. Lott's constituency included the powerful cotton industry, which produces fabrics used in the paper dollar; Kennedy's included the Crane Paper Company
Crane Paper Company
Crane & Co., based in Dalton, Massachusetts, is a manufacturer of cotton-based paper products used in the printing of national currencies, passports and banknotes as well as in social, business, industrial and technical applications. Crane remains the predominant supplier of paper for use in U.S...
which produces American banknote paper.
Portrayal in media
In 2006 and 2007, Car Manufacturer Kia MotorsKia Motors
Kia Motors , headquartered in Seoul, is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 1.4 million vehicles in 2010...
used the group's name in a car discount campaign. In the TV campaigns, the group was portrayed as a group similar to Greenpeace
Greenpeace
Greenpeace is a non-governmental environmental organization with offices in over forty countries and with an international coordinating body in Amsterdam, The Netherlands...
, with a mission to save money.