Opinion: President Reagan Deserves His Place on the $50

(March 3) -- Last month, we celebrated the 99th anniversary of the birth of our 40th president, Ronald Wilson Reagan. In honor of this great American president, I have introduced legislation to redesign the face of the $50 bill to include his likeness. My goal is to pass this legislation in time for the centennial celebration of Reagan's birth in February 2011.

President Reagan was a modern-day statesman whose presidency transformed our nation's political and economic thinking. Through both his domestic and international policies, he renewed America's self-confidence, defeated the Soviets and taught us that each generation must provide opportunity for the next.

Reagan is indisputably one of the most transformative presidents of the 20th century. While President George Washington and the founders stand in a category all their own, President Reagan belongs in the next tier of truly great American leaders.

Like President Franklin Roosevelt on the dime and President John Kennedy on the half-dollar, President Reagan deserves a place of honor on our nation's currency.

Today, during double-digit unemployment, record spending and off-the-charts federal debt, Reagan's belief in the power of individuals has inspired a new generation of future leaders and grassroots advocates. Preserving the legacy of this great American president ensures that future generations will be inspired by the same principles of responsibility, hope and hard work.

Under this bill, President Reagan's likeness would replace that of President Ulysses Grant. While Grant played a significant role in American history before being elected president, he is not as well regarded by presidential historians. In 2005, The Wall Street Journal conducted a presidential poll with bipartisan scholars, ranking Reagan sixth, while Grant was ranked 29th.

Every generation needs its own heroes. One decade into the 21st century, it's time to honor the last great president of the 20th and give President Reagan a place beside Presidents Roosevelt and Kennedy.

Rep. Patrick McHenry is a Republican congressman representing North Carolina.