YOU want to change the system of government. There was a move to rename our country “Mabuhay.” We talk about bagong bayani. A new beginning, a clean break from the past, we need this like we need dedicated leaders now. A proposal: why not call our currency the Philippine dollar? At the current levels 15 pesos stronger than two years ago, it is time we call it by a new name to reflect its enhanced value.

At first blush, it may look frivolous and cosmetic. The exchange rate will be the same. GDP, GNP and all the other economic indicators will not increase. It is rather a call for a change in perception—that we are a country on the go, a people on the move. Look at our Asian neighbors, tiny Hong Kong and Singapore have their HK dollars and Sing dollars with mighty reserves. New Taiwan dollar is another gem. Can we cite studies or researches that show that by and by, dollar-termed currencies give better value over time?

The peso or piso is a colonial vestige. In fact, we don’t say centavos as much as we say cents these days. Loose change or pocket change our mentality cannot be. We have finally a new passport after a decade of projects. Remember, too, the first time we were issued new formatted all computerized driver’s license. Also, that new cars have initial three year registrations. Then sprouted the NSO Serbilis Centers, NBI kiosks for clearances, taxpayer’s lounges, express lanes and other innovations and new thinking.

Despite these, we continue to look down at our poor peso as if it is not worth to keep. We flash dollar bills and proudly show off other currencies. The peso is hidden and out of sight when we travel. It is hardly exchangeable in money shops. What’s worse is when economic magazines line up currencies, the peso hardly registers. Of course we can’t blame the peso because what is at stake is the size and scale of our national economy. But still.

That is precisely why we argue for a new mentality. We can only be as proud as our currency. Our national identity is tied up with the peso sign. So funny that we now hear of cries for slowing or stopping the appreciation of the peso even to the point of special rates for OFWs. We have always yearned for a strong peso with back stories of our grandparents when the exchange was 2:1 pesos to the dollar. Nay, as late as the 1997 pre-crisis, we were at the 26-28 range.

Our debts and sovereign ratings might improve. Speaking of debts, the recently approved 1.2 trillion budget allocates about 50 percent or P600 billion for debt servicing. Our debt culture starts from here and cascades to every man, woman and child subconsciously aware of the burden. It is not a wonder that all sectors—including teachers, policemen and military—wallow in debt, the so-called ‘debt trap,’ in pesos at that.

There will be costs of new monies printed and everything that comes with change. Will it be worth the exercise as much as the costs of, say, charter change? I said before that to solve our problems, we cannot rely on present methods. We need to look to the future, envision the end state and employ 22nd century methods. Thinking out of the box is essential and attempting to change our currency from the Philippine peso to the Philippine dollar might just spark a few bright ideas.