The strength of the other four characters on the final shortlist – filmmaker Charlie Chaplin, sculptor Barbara Hepworth, painter William Hogarth, and designer Josiah Wedgwood – gives a sense of the exceptional pedigree of British visual arts – and contextualises Turner’s contribution. To develop this point, I’d like to now introduce a short film from the Committee members celebrating some of the nominated visual artists and outlining their views on the process that led to Turner being chosen. *** So as Darwin is about to be replaced on one of our notes and Churchill is to appear on another, it’s fitting that Turner should be unveiled on the next. And here is the new image for the new Turner banknote. It features Turner’s self-portrait, from 1799, currently on display in the Tate Britain; and one of his most eminent paintings – The Fighting Temeraire – which can be seen in the National Gallery. This painting was a tribute to the HMS Temeraire, which played a distinguished role in Nelson’s victory at Trafalgar in 1805. It also commemorates the Age of Steam replacing that of Wind as this great warship is pulled into harbour by small tug boat. And in classic Turner fashion captures the interplay between light and vibrant colour.
It bridges time. The money we spend today could have been earned from past accomplishments or could be borrowed from future ones. Money is also Memory for a country and its people. Money, after all, can be a piece of art in everyone’s pocket. Far from being “barren”, our banknotes are a celebration of the UK’s heritage, a salute to its culture, a testament to the great achievements of its most notable individuals. In short, money has not just economic value; it has cultural value. By depicting characters on our banknotes, we celebrate those who have advanced British thought, spurred innovation, shown exceptional leadership, shaped this diverse society and forged our common values. The great statesman Sir Winston Churchill will feature on the next £ note, unveiled on 2nd June, and issued in September, replacing the prison reformer Elizabeth Fry. The renowned author Jane Austen will feature on the £ note, which will be issued in 2017, replacing the ground-breaking scientist Darwin. 1  Hicks, J R (1967), Critical Essays in Monetary Theory. 2  “I am what I am” or “Stupid is as Stupid Does”. 3  A moniker used by Kocherlakota. See Kocherlakota, N (1998), “Money is Memory”, Journal of Economic Theory, 81 (2). 4  Book I, Chapter 4 “On the Origin and Use of Money” of Smith, A (1776), An Inquiry into the Nature and Causes of the Wealth of Nations. 5  Kocherlakota (Ibid.)