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There is about $1.2 trillion dollars of U.S. currency in circulation. The Federal Reserve Banks distribute new currency for the U.S. Treasury Department, which prints it. Depository institutions buy currency from Federal Reserve Banks when they need it to meet customer demand, and they deposit cash at the Fed when they have more than they need to meet customer demand.
If the US paper currency was going to undergo a major overhaul, this is who I would select to appear on the bills. Something of a new wave movement, with some twentieth century presidents on the common bills, but all founding fathers on the larger bills and rare bills.