A man walks past various currency signs, including the dollar (top R), Australian dollar (top L), pound sterling (centre L) and euro (bottom L), outside a brokerage in Tokyo October 28 2014.
A man walks past various currency signs, including the dollar (top R), Australian dollar (top L), pound sterling (centre L) and euro (bottom L), outside a brokerage in Tokyo October 28 2014. A year-long investigation into allegations of collusion and manipulation by global currency traders is set to come to a head on Wednesday, with Britain's financial regulator and six big banks expected to agree a settlement involving around ?1.5 billion ($2.38 billion) in fines. The settlement comes amid a revival of long-dormant volatility on the foreign exchanges, where a steady rise of U.S. dollar this year has depressed oil prices and the currencies of many commodity exporters such as Russia's rouble, Brazil's real and Nigeria's naira - setting the scene for more turbulence on world financial markets in 2015. Picture taken October 28, 2014. Reuters/Yuya Shino

The U.S. Treasury Department has announced that its redesigned $10 note will feature a woman, for the first time. However, it has not not made a final choice on the woman for the portrait. The new note will debut in 2020 and mark the 100th anniversary of the U.S. Constitution's 19th amendment, which is historic in having given American women the right to vote.

Hamilton’s Replacement

In any case, the woman, on whom the Treasury Department will ultimately zero in, will replace Alexander Hamilton, the pivotal figure in the American Revolution and the first secretary of the U.S. Treasury, reports BBC. Hamilton has been there on the $10 note since in 1929. Credit goes to Hamilton and inventor Ben Franklin to be the only non-presidents to have featured on current U.S. notes.

The treasury is now seeking public inputs on the selection process and is looking for a "champion for our inclusive democracy.” Treasury Secretary Jacob Lew said, “We have only made changes to the faces on our currency a few times since bills were first put into circulation, and I'm proud that the new 10 will be the first bill in more than a century to feature the portrait of a woman.” Lew said in a video that he is soliciting suggestions from the public and they can tweet using the hashtag #TheNew10 or through the website TheNew10.Treasury.gov, reports CNN.

Past Legends

Lew said the main requirement in suggesting a name is that the woman should not be living now. So, if Hillary Clinton or Carly Fiorina becomes the next president, there is no chance for the first female president to be on the note. According to Treasury sources, the main goal of the redesign is to thwart counterfeiting.

Women's groups had been pressing for more representation on the U.S. notes. One group, WomenOn20s, even conducted a vote on the top women who should be put on the next dollar bill. It came out with a long list, from Eleanor Roosevelt, Harriet Tubman, Rosa Parks to Wilma Mankiller.

The opinion poll had the participation from from 600,000 people, and Harriet Tubman came out as the winner. Tubman was known as the "conductor" of the Underground Railroad that allowed several slaves to escape in the 1850s. Now all eyes are on Jacob Lew, on what decision he takes and who is going to be that legendary woman. The final decision is expected by the end of the year.

(For feedback/comments, contact the writer at k.kumar@ibtimes.com.au)