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POCKET GUIDE TO AUSTRALIAN BANKNOTES 2 Change & Stability AUSTRALIAN BANKNOTES FROM THE 1930s TO 1950s

The Conflict of Identity

A new series of banknotes was issued from 1953 to 1954. The design of the series reduced the previous emphasis on the sources of the country's economic prosperity and became the first series to portray identities related to Australia's history, enhanced by examples of native flora. The decision to reproduce portraits on the banknotes was motivated partly to increase their security against counterfeiting. Gordon McCracken, General Manager of the Bank's Note Printing Branch, wrote to the Bank's Governor, Hugh Armitage, to advise him that the human face ‘fixes itself in the eye more readily than any other object, variations being quickly observed, and for this reason the portrayal of human features is essential for note printing security.’1

The selection of the portraits was developed by the Bank's Advisory Council, which comprised senior Bank and Department of Treasury officials, including Dr Roland Wilson who was appointed the Department's Secretary in 1951. Concern about their choice of colonial figures was raised by McCracken. He wrote to the Bank's new Governor, Dr HC Coombs, to advise that the proposed identities be replaced by portraits of the politicians Alfred Deakin and Sir Henry Parkes and the military commander Sir John Monash. He believed that the colonial identities belonged ‘to another period ... not in line with present Australian character and thoughts’, and that the era was represented adequately by the portraits of the explorers, Charles Sturt and Hamilton Hume, chosen for the £1 banknote, as well as Captain James Cook's portrait as the watermark for the series. He continued in his letter to Dr Coombs, ‘We feel this is a new start for note designing in the Commonwealth, and the proposal to use these earlier personages seems to us to be analogous to reverting to the ‘old clothes basket’ …’2

The Bank's Governor agreed with the principle of including more recent identities but revised the selection. He recommended Australia's first three prime ministers, Sir Edmund Barton, Alfred Deakin and JC Watson, and proposed this change of portraits to the Advisory Council. However, the Council rejected the proposal in favour of colonial figures. In addition to Charles Sturt and Hamilton Hume, the selection comprised the navigators Matthew Flinders and Sir John Franklin for the 10 shillings and £5 banknote respectively, and Arthur Phillip, the first governor of New South Wales, for the £10 banknote.

Although denominations higher than the £10 banknote were not issued in the 1950s series, preparations were made should the need eventuate. Sir John Monash was a candidate for the unissued £20 banknote, and Sir Henry Parkes for the unissued £50 banknote.

Reserve Bank of Australia Archives, NP-003162, NP-003280.

Although denominations higher than the £10 banknote were not issued in the 1950s series, preparations were made should the need eventuate. Sir John Monash was a candidate for the unissued £20 banknote, and Sir Henry Parkes for the unissued £50 banknote.

Reserve Bank of Australia Archives, NP-003162, NP-003280.

Both figures eventually appeared on issued Australian banknotes. Sir John Monash was portrayed on the first polymer $100 banknote (1996) and the Next Generation of Banknotes $100 banknote (2020). Sir Henry Parkes was depicted on the $5 banknote (2001) for the centenary of Federation owing to his contribution to its realisation.

References

1. WCG McCracken, letter to Hugh Armitage, Governor of the Commonwealth Bank of Australia, June 1943. Reserve Bank of Australia Archives, N-a-513.

2. WCG McCracken, letter to Dr HC Coombs, Governor of the Commonwealth Bank of Australia, 23 November 1950. Reserve Bank of Australia Archives, N-a-513.

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