MONEY TALKS -
CURRENCY NOTES AS COMMUNICATION MEDIA
Thesis presented to the
Faculty of California State University, Fullerton, 2004
Money. It is handled by billions of people everyday. It stands for more than what it can buy. A currency note is a canvas of officially sanctioned propaganda used during national identity building. The intricate patterns, national heroes, revered places, unusual flora and fauna reveal to the world each country’s character via the imagery emblazoned on it. From a communications perspective, the scale, power, and influence of the messages and metaphors adorned on a currency note are awe-inspiring.
This study focuses on the “Euro,” the currency of the euro-zone. An outcome of the post-modern era, representing a confederation and not a single nation, and carrying a gigantic baggage of historical and contemporary nationalistic images were some of the hurdles the Euro’s design had to overcome.
This study addresses the issue of how the design of the imagery on money contributes to the expression of a collective identity.
MONEY TALKS -
CURRENCY NOTES AS COMMUNICATION MEDIA
Stones, horses, bat teeth, parrot feathers, whalebones, shells, deerskin, earthen pots, kettles, bows, armor, fish hooks, salt, rice, coconuts, cocoa beans, glass vases, silver, gold, printed paper, plastic, alphanumeric characters on a computer screen or simply just money. The journey has been extensive, diverse and interesting. Apart from its primary economic role, money continues to be augmented with human endeavor making it a symbol ripe for investigation because its exchange represents our changing culture. The nineteenth century was witness to the rise of nationalism and the use of different symbols in its communication, including national currencies and their imagery. Around the same time, significant advances in paper and printing technologies contributed to this mesmerizing collection of national canvases.
The recent launch of the Euro has certainly given prominence to the issue of currency design and imagery. Opponents of the European Union's common currency project expressed their concern that the abandonment of national currencies would “dilute” their national identity. Even strong EU supporters were forced to recognize that “for some people, the change will almost feel like a change of identity.”
An outcome of the post-modern era, the Euro is a representation of a confederation over single nations, playing a larger role than just monetary integration.
This research focused on how the design of the Euro notes and coins contributes to the formation of a new transnational identity. Using semiotics from the visual communications literature, this paper argues that currency notes are not merely a medium of exchange- they are a medium of mass communication.
Chapter 27 (p. 271 - 285)
MONEY TALKS – ‘BACK TO THE FUTURE' CHALLENGES IN BANKNOTE DESIGN
As artifacts of popular culture, banknotes signify more than just tokens of payment. Banknotes are at the heart of our exchanges and interactions. They are omnipresent and ubiquitous. Circulating for more than 300 years now, they bear witness to our everyday lives, our possessions, our stories and our memories- close to our hearts and deep in our pockets. With galloping technological advancement, on-going additions to payment gateways and alternate global currencies; banknotes would seem to be following the path of the dodo. In fact, it is just the contrary! The last decade has seen a growth of 175% of the US Dollar bills and around 190% of the British pound notes; even the relatively nascent Euro hit a staggering 200% increase in note circulation!
With counterfeiters relentlessly at their heels; banknotes; substrates adorned with mind-boggling artworks integrating constantly updated security technology into production techniques; ceaselessly need to stay ahead; befitting the adage, “back to the future;” perhaps like no other product design or innovation.
The size- restricted, the medium- paper, recently polymer, two-dimensional and two sided, the method- printing, foiling and special security technologies; not much has changed over the past three centuries considering the influx and constant bombardment of inventions leaving most products and practices obsolete or redundant! But not this medium of exchange. That is exactly what makes the banknote and its design so extraordinary and challenging!
Apart from the usual, mundane exchange; our interactions with banknotes run deep. They are experienced and consumed by our senses; even if less apparent and more subliminal. Seeing the magnificent and indigenous artworks, feeling the raised and intaglio impressions, hearing the flutter and folding (the crushing sounds are tests for real versus counterfeit notes); they have an extremely personal relationship with each of us on a daily basis. To make their design decisions further complex; they are also handled by machines regularly. Optical and magnetic sensors to assist the multiple interfaces and technology need to embedded in the notes for effective exchange. Banknotes are thus, part of an elite group of products that are handled both by men and machines. And as far as the quantum of exchange is concerned; they securely lead by a hefty margin.
Designed exclusively and uniquely, individually customised, artistically bespoke and yet for a wholesale, across-the-board, extensive exchange; to be used anywhere, anyhow, anytime; a perfect blend of form and function, of information and security, of exchange and trust, of durability and bio-degradability; makes the banknote- the most coveted of design possibilities, practices and commissions!
Not to forget, each note, in its medium and its message integrates ‘zeitgeist’- the spirit of the time; reflecting the promise of its currency. This research presents- “back to the future;” the on-going journey of banknotes that continue to offer challenges and opportunities- a noteworthy specimen for the design of tomorrow.
MASS MEDIA RESEARCH : INTERNATIONAL APPROACHES
Yorgo Pasadeos & Dimitra Dimitrakopoulou, Eds
2006
'Money Talks - Currency notes as Communication Media'
INTERNATIONAL BANK NOTE SOCIETY
JOURNAL
2023 - 2024
World Heritage on Banknotes I - IV
DESIGN FOR TOMORROW
VOLUME 1
2021
Amaresh Chakrabarti, Ravi Poovaiah, Prasad Bokil, Vivek Kant; Eds