Treasury may print other nations’ money

WASHINGTON – The government’s giant printing presses could soon be cranking out something in addition to the old greenback.

The Treasury Department’s Bureau of Engraving and Printing has gotten the go-ahead from Congress to print other countries’ currencies.

A provision giving the bureau this authority is contained in a bill overhauling the country’s intelligence operations. The bill is awaiting President Bush’s signature to become law.

Although the government wouldn’t profit from such ventures, bureau director Thomas Ferguson said the experience could help it sharpen its anti-counterfeiting skills.

“It would give us an opportunity to do some interesting things that we might be able to learn from and possibly use to help us do U.S. currency better,” Ferguson said in an interview with the Associated Press.

Currently, though, the bureau hasn’t lined up the business of any countries, Ferguson said. It plans a very low-key marketing approach.

“We’ll certainly let countries know, but we’re not a marketing firm. We’re not a private company. We’ll be available if they need us,” Ferguson said.

He sees a potential target in small, developing countries that lack the technical wherewithal to produce their own currencies.

Under the bill, the bureau would have the authority to produce not only paper money but also postage stamps and other so-called security documents such as drivers licenses and passports for foreign governments.