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British banknote brouhaha resolved

July 24, 2013

After a months-long storm of media comment and public protest, the Bank of England has apparently put to rest the dispute over which historical characters to commemorate on banknotes.

In 2016, Winston Churchill will take his place on the £5 note as planned. And, it was announced today, a new £10 issue the following year will honor English novelist Jane Austen, the hugely popular author "Pride and Prejudice."

The banknote controversy erupted on April 24 with the announcement that, in a routine update, the Bank of England would issue a new "fiver" in 2016, swapping out the current portrait of the 19th century prison reformer Elizabeth Fry with that of Churchill. Fry has appeared on the note since May of 2002.

With that replacement, the only woman to appear on any banknote would be Queen Elizabeth II, whose image appears on the front of folding money and coins alike. However, unlike the characters shown on the back of the note, her inclusion is by dint of birth and not necessarily accomplishment.

Fry's removal caused such a furor that the Bank of England announced not only the Austen note, but also a review of the principles and procedures for choosing historical figures on future notes.

Bank of England Governor Mark Carney issued a statement about the review during an event to announce the upcoming Austen banknote:

"We believe that our notes should celebrate the full diversity of great British historical figures and their contributions in a wide range of fields. The Bank is committed to that objective, and we want people to have confidence in our commitment to diversity. That is why I am today announcing a review of the selection process for future banknote characters."

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