Paper Money - Vol. IV, No. 4 - Whole No. 16 - Fall 1965

E: Paper illette ,.3,.3 Ei 113 Ei DEVOTED TO THE STUDY OF CURRENCY is3 Ei ii3 E. i3 Ei i.3 Ei Ei Ei i.3 Ei of i.3 Ei Currency i. Ei 1.3 Ei nnnmv. .,i7.%,. 1 i.3 Ei i.3 k -"r s / [.3 Ei il Ei VOL. 4 FALL 1965 No. 4 i'3 Ei Whole No. 16 i'3 Ei OFFICIAL PUBLICATION ii3 Ei OF it3 Ei .3 Ei Cociety ol Pape, Maul Collector-6 i.3 Ei © 1965 by The Society of Paper Money Collectors i*3 Ei is3 RcXxXxXxX.xXxIxTxXxX.7cMcix.nc.McM.T.xXxXxXxXxXxXx.T. Whitman Coin Reference Series UNITED :c1°.ARTF)F..SFRACTIONA General Francis Ellis Spinner, the "Father" of U. S. Postage and Fractional Currency A Guide Book of U. S. FRACTIONAL CURRENCY by Matt Rothert The fractional currency of the United States is a product of a period of our history full of im- portant events . . . the years 1862 to 1876. It is an interesting series to collect and all aspects are thoroughly covered in this Whitman guide book. You can rely on its up-to-date valuations based on the realistic retail value of each note. You'll appreciate historical references and be pleasantly surprised when you see the excellent illustrations of all types. 81 pages, flexible cover. $1 n 00 at your hobby dealer WHITMAN PUBLISHING COMPANY, Racine, Wis. WORLD'S LEADING NUMISMATIC PUBLISHERS Paper atone VOL. 4 NO. 4 FALL 1965 WHOLE NO. 16 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Barbara R. Mueller. 523 E. Linden Dr.. Jefferson. Wis. Assistant Editor Fred R. Marckhoff. 552 Park St.. Elgin. Ill. Direct only manuscripts and advertising matter to Editor. Direct all other correspondence about membership affairs, address changes, back numbers and sample copies of Paper Money to the Secretary, J. Roy Pennell, Jr., P. 0. Drawer 858, Anderson, S. C. Membership in the Society of Paper Money Collectors, including a subscription to Paper Money, is available to all interested and responsible collectors upon proper application to the Secretary and payment of a $4 fee. Paper Money is not otherwise available. ADVERTISING RATES One Time Yearly Outside Rear Cover $35.00 130.00 Inside Front & Rear Cover 32.50 120.00 Full Page 27.50 100.00 Half Page 17.50 60.00 Quarter Page 10,00 35.00 The right to edit copy, to require payment in advance, and ment is specifically reserved. All copy must be typed. 120-screen engravings should be furnished where required. to decline any a Photographs, dvertise- mats or CONTENTS An Altered Bank Note, by Herbert Eccleston, M. D. 95 An 1933 Treatise on Banks of Issue, by Senator Warren S. Henderson 98 The Bank of Zilwaukie, Michigan, by Carl L. Roethke 102 The Confederate Museum, by Everett K. Cooper 103 Islas Del Cisne, by George W. Wait 104 Collecting by Serial and Plate Numbers, An Outline, by Bert Hart 106 Supplement to Kentucky State Banks, by Earl Hughes 108 Fractional Currency Fourth and Fifth Issues, Papers and Printing, by M. R. Friedberg 110 Events That Affected Early Texas Currency, by Cliff J. Murk 112 The National Capitol on United States Currency, by Howard W. Parshall 114 Revisions 119 THE SOCIETY OF PAPER MONEY COLLECTORS, INC. President's Message 99 Proceedings of SPMC Annual Meeting 99 Secretary's Annual Report 101 Treasurer's Annual Report 101 The Trading Post 115 Secretary's Report 116 society ri Paper iltonq CoIlector4 OFFICERS President George W. Wait, Box 165, Glen Ridge, N. J. Vice-President William P. Donlon, Box 144, Utica, N. Y. Secretary J. Roy Pennell, Jr., Box 858, Anderson, S. C. Treasurer James L. Grebinger, Box 614, Oak Park, Ill. APPOINTEES-1965-66 Historian-Curator Earl Hughes Attorney Ellis Edlow BOARD OF GOVERNORS — 1965-66 Thomas C. Bain, Dr. Julian Blanchard, William P. Donlon, Ben Douglas, Nathan Gold- stein II, George D. Hatie, Morris Loewenstern, Fred R. Marckhofl, J. Roy Pennell, Jr, Glenn B. Smedley, George W. Wait, Melvin 0. Warns .-- E = = E = Important NoticeE E =E = -=- == = Paper Money Is A Copyrighted Publication E ==E = .s.- No article originally appearing in this publication, or part thereof or condensa- = = = • tion of same, can be reprinted elsewhere without the express permission of the Editor. = = Although your Officers recognize the publicity value to the Society of occasional re- = = = prints, they cannot allow indiscriminate use of the material from PAPER MONEY in i.T... other publications even when condoned by the author. Therefore, authors should =1" = = = contact the Editor for permission to reprint their work elsewhere and to make ar- -_-,- = = rangements for copyrighting their work in their own names, if desired. Only in this E= way can we maintain the integrity of PAPER MONEY and our contributors. = = = a = 511inliiinillmnillIIIIIIIIIIIIIiiiInilliininlimililifinniinffillIIIIIIIIIIIIiinlininillinIninilliniiiIiiilmilinlillnilnlimillillniunilimillihnnim FIVE DOLLARS /1 :11 r :j1JY, -p sgr /x FIVE DO LARS. AK, /7/ /4e/A //"MOUNTHOWY //),,S1 /if (?./ WHOLE NO. 16 Paper Money PAGE 95 An Altered Bank Note By Herbert Ecdeston, M.D. The original note as issued by the Commercial Bank of Perth Amboy "The Mount Holly Bank" has been substituted for "The Commercial Bank." "Mount Holly" has been substituted for "Perth Amboy." Note erasures. In the era when thousands of banks issued bank notes by the tens of thousands. some of the circulatory notes were altered bank notes. Altered notes were notes of a defunct bank which were changed in some respect by individuals of questionable character to resemble notes of a bank which was in business and solvent. Usually such alteration was done on notes of banks long distances apart to aid in the deception. However, I would like to describe an altered note of one New Jersey bank on another New Jersey bank not too far away. The banks involved in this instance are the Commercial Bank of New Jersey and the Mount Holly Bank. The Commercial Bank of New Jersey was located in Perth Amboy. It was one of the earlier banks in the state, having been established in 1822. This bank went out of business shortly after 1856. The Mount Holly Bank of Mount Holly, New Jersey, 50 miles from Perth Amboy, was established in 1862. The altered note is a $5 note of the Commercial Bank of New Jersey on which the title of the bank was erased and the title of the Mount Holly Bank neatly printed over the erasure. The erasure marks are clearly evident. The name of the town was also changed by erasing the origi- nal and substituting Mount Holly in its place. As can PAGE 96 Paper Money WHOLE NO. 16 The erasure is clearly evident in this composite photograph. The president's signature was not changed. be seen in the accompanying enlargement. the signatures of the cashier and the president were not altered. The date is also interesting in that both notes are dated September 1. 1856. It will be noted from the previous remarks that the Mount Holly Bank was not established until 1862. and so would hardly print a note six years before its inception. As evidenced by the number of bank note reporters and counterfeit detectors available describing altered, raised and counterfeit notes, many altered notes were in circulation. However. notes altered from one bank of a state to another bank in the same state were uncom- mon, hence the description of this note. WHOLE NO. 16 Paper Money PAGE 97 Note the signature of cashier was not changed. Note erasure around "Mount Holly." Note erasure where Mount Holly was substituted. Acknowledgment: The author wishes to thank Mr. Herman S. Ferber of Hackensack for the excellent photography. Reference: D. C. Wismer—State Bank Notes of New Jersey PAGE 98 Paper 'Wiley WHOLE NO. 16 An 1833 Treatise on Banks of Issue Borrowed By Senator Warren S. Henderson 22nd District Sarasota County, Fla. Many of the readers of PAPER MONEY are collectors of notes of the "broken bank" period and may well enjoy the remarks which follow, being the observations of one William M. Gouge. As was the case in many books of the period, the lengthy title of his work reads "A Short History of Paper Money and Banking in the United States including an account of Provincial and Continental Paper Money. To which is pre- fixed an inquiry into the principles of the system, with con- siderations of its effects on morals and happiness. The whole intended as a plain exposition of the way in which paper money and money corporations, affect the interests of different portions of the Community. Printed by T. W. Vstick, Philadelphia, 1833." Mr. Gouge was an outspoken critic of the paper money system. His criticisms were shared by many others, leading, nearly thirty years later, to the Acts which spelled an end to the custom and replaced control by the several States with Federal regulation. The following paragraphs from Chapter 17 of his fascinating book explain one serious deficiency in bank formations in the first half of the last century: When the uninitiated hear of Banks having capitals of 500,000 or of 1,000,000 dollars, they suppose that these institutions had at their commencement, or some time after, real money to this amount. It is a very natural supposition; but not a true one. The Banks create their own capitals in the same manner that they create the money they lend to the people. The usual method of proceeding is as follows: An act is passed by the Legislature to authorize the establishment of a Bank, and certain persons, called Commissioners, are appointed to receive subscriptions. It is provided in the act that the amount subscribed shall be paid in instalments of five or ten dollars in specie, or the notes of specie-paying Banks, and that after one or two instalments shall have been paid in, the Bank shall commence operations. The first instalment, which we shall suppose to be five dollars on a share, enables the Bank to purchase desks and a counter, and to pay for engraving and printing its notes. It has then the necessary apparatus for commencing operations, and has, perhaps, a specie fund in reserve of three or four dollars for each share of stock, to meet contingencies. It then begins to discount notes and circulate paper. The spare cash of those who have dealings with it, are deposited in its vaults. This fund enables it to extend its operations. As the Bank notes will serve the purposes of trade in the neighborhood, the specie is sent to distant places to procure commodities. This leaves open a new channel for the circulation of paper: and the Bank increases the amount of its issues. Then comes the time for paYing the second, third, or fourth instalment. The Bank makes a call on the stockholders. Some of them hypothecate their stock, that is, pledge it to the Bank, and with the means obtained from the Bank itself pay in their proportion. Others have obtained the means by discounts of accommodation notes, without any hypothe- cation of stock. Some few pay in real money: but they generally pay in the notes of the Bank itself, or of similar institutions. It is by this kind of hocus-pocus that Bank capitals are formed. After the first instalment is paid, the Bank by its own operations, facilitates the paying of the others. The Bank of Pennsylvania and that of the United States have more pretensions than most others to solidity of capital. It was provided in their charters, that a portion of their instalments should be paid in Govern- ment stock. This is not a convenient form for loanable capital, which, it might be supposed, is what Banks should possess. But the peculiar profits of Banks are derived from credit and circulation, and they want no more real capital of any kind than is necessary to sup- port their credit. It is difficult to say in what the capitals of the other Banks ever consisted, unless it be in what it consists at present in the promissory notes of individuals. Now, the Banks did not obtain these promissory notes by lending real money of their own, for they had it not to lend. They obtained these promissory notes of the stockholders, by giving in exchange for them the promis- sory notes of the Bank. Thus Bank capitals are formed by exchanging one kind of promises to pay for another kind of promises to pay. This mode of forming Bank capitals, with the stock notes of the subscribers, is not peculiar to Banks of the second and third order. The Banks of the most approved standing have formed their capitals in the same way. The nominal capital of the old Bank of the United States, was ten millions of dollars. One-fifth part of this, or two millions of dollars, was subscribed by the National Government; but the National Government having no money to pay its subscription, professed to borrow from the Bank. And the Bank having no money to lend, passed a credit of two millions in its books to the Government on which it paid six per cent. The Govern- ment, in its turn, received the dividends on 5,000 shares of stock of 400 dollars each at par value. The residue of the capital, or eight millions, was sub- scribed by individuals, and was to be paid, three-fourths in six per cent. stock, and one-fourth in species, in four six-monthly instalments of five hundred thousand dollars each. "No more," says Dr. Erick Bollman, "or little more than the first instalment, can ever be con- (CONTINUED ON PAGE 100.) WHOLE NO. 16 Paper Money PAGE 99 President's Message I am very honored to have been chosen as your new President. As many of you know, I have been identified with this organization from its very beginning and it has a special place in my life. We have come a long way. Starting from scratch just four years ago, we have taken in over fifteen hundred members and after allowing for deaths and drop-outs, we now have about thirteen hundred on our rolls. This is an unprecedented growth for a numismatic specialty organization. The sailing has not been smooth. We have had crises, financial and otherwise, but the future now seems assured, both for our Society and for the paper money hobby. We have three main objectives for the coming year. These are: 1. Further expansion of our membership. 2. Continued improvement in our magazine. 3. Important progress in the Wismer rewrite project. As in many other organizations, much of our work is concentrated in a few individuals. Membership ap- plications, dues, advertising, editing and routine cor- respondence must be handled by the appropriate elected or appointed officers. However, there are other areas in which we can all help. We can sponsor our collect- ing friends for membership, and we can write for our magazine. Anyone who has a specialty and has studied his field is definitely qualified to write an authoritative article. This sharing of knowledge enhances the prestige of the author and often provides him with added divid- ends through the interest stimulated in his subject. Our improved financial position will permit more pages in PAPER MONEY. Let's use them! The various researchers under the guidance of Fred Marckhoff are working hard on the Wismer project and we can expect the first results in the near future. Many of us may be asked to check our collections for omis- sions in order to make this listing of obsolete notes as complete as possible. It is probable that a more com- plete listing will not be made in our lifetime, if ever. Many members of our Society are among these win- ners of the paper money exhibit awards at Houston: United States Obsolete Jackson C. Storm Robert E. Medlar H. H. Norris Dr. Julian Blanchard Henry Gogolin Irving Moskowitz Foreign Victor C. Seibert Art Lovi Donald B. Hoge Mr. Medlar is to be especially congratulated for win- ning the "Best In Show" award with his outstanding display of Texas currency. This is the second consecu- tive year that this coveted award has gone to an ex- hibitor of paper money, a definite indication of in- creased interest in this field. We owe an expression of thanks to Tom Bain and the other retiring officers and board members who have done so much for the Society. It is nice to know they will continue to work for the Society and that we can call upon them for advice and assistance. GEORGE W. WAIT, President Proceedings of SPMC Annual Meeting The fourth annual meeting of the Society of Paper Money Collectors, Inc., was held on August 27, 1965, at the Shamrock-Hilton Hotel in Houston coincident with the ANA Convention. Approximately one hundred members and their guests were present. President Thomas C. Bain introduced guests, includ- ing Dr. and Mrs. Clain-Stefanelli, Curators of Numis- matics for The Smithsonian Institution. Dr. Stefanelli made a brief talk about the Smithsonian's collection and exhibits. The Secretary reported on the continued growth of the Society, which has added over five hundred new members in 1965. After deducting losses due to deaths, resignations, and other drop-outs, we now have 1,236 active members. We will probably go over fifteen hundred active members during the coming year. Treasurer Glenn Smedley reported a bank balance of $4,853.59 as of June 30th. He stated that although we still had to pay for the two remaining 1965 issues of PAPER MONEY, we were in good financial condition. PAGE 100 Paper Money WHOLE NO. 16 Thomas C. Bain, Dr. Julian Blanchard, Ben Douglas, Fred R. Marckhoff, J. Roy Pennell. Jr. and Melvin 0. Warns were elected to the Board of Governors, replac- ing those whose two-year terms had expired. The winners of the Douglas Awards for the best articles submitted in the past year by others than officers and board members were: 1. Ten dollar gold piece to Edward R. Barnsley for his article "The Treasury of North America." 2. A five dollar gold piece to Richard A. Banyai for his article "Monetary Reform and Recovery of Post-War Germany 1945-55." Ellis Edlow, Chairman of our By-Laws Committee, re- ported on the Society's new by-laws and they were adopted unanimously. Fred Marckhoff reported that much progress has been made on the Wismer List. He stated that the Nebraska list was ready for publication. Negotiations are being conducted to find a publisher for these lists. Mike Brownlee generously contributed a number of Texas notes that were given away as prizes at the banquet, Several special awards were made by President Bain. William P. Donlon was given an award for his contribu- tion to paper money collectors. Former Secretary George W. Wait was given an award for the great serv- ice he has rendered to the Society. An award was also made to Mrs. Elizabeth Smart, Mr. Bain's secretary, for her service to our Society. Thanks were expressed to Miss Barbara Mueller for her excellent work as editor of PAPER MONEY. Thanks were also given to Hirsh Schwartz and his committee for the excellent meeting arrangements. After the banquet was over, the Board of Governors held a meeting and elected new officers. George W. Wait of Glen Ridge, New Jersey, was elected President. Other officers elected were William P. Donlon, Vice President; J. Roy Pennell, Jr., Secretary; James L. Grebinger, Treasurer; and Miss Barbara Mueller, Editor. The Board also approved the use of the capital letters SPMC to refer to our Society in an abbreviated form. Thanks and appreciation were expressed to Glenn S. Smedley for his service as Treasurer. Mr. Smedley ex- pressed regrets that demands on his time were too great for him to continue in that office. J. ROY PENNELL, JR., Secretary An 1833 Treatise on Banks of Issue (CONTINUED FROM PAGE 98.) sidered as having been received by the Bank actually in hard money."' The capital of the present Bank of the United States was fixed by its charter at thirty-five millions, of which Government subscribed seven; but Government having, as in the former instance, no money, the Bank granted it a credit to this amount. The remaining twenty-eight millions of stock were subscribed for by individuals. On each share of the stock, they were, agreeably to the terms of charter, to pay five dollars in gold or silver coin at the time of subscribing; at the expiration of six months the further sum of ten dollars: and at the expiration of twelve months, the further sum of ten dollars. At each of those three periods, twenty-five dollars more were to be. paid, oh each share,, either in United States stock, or in gold and silver coin; at the option of the subscribers. No more or very little more, than the first instalment of five dollars on each share, was paid in gold or silver coin. The Directors, indeed, proceeded on the principle that no more was necessary. "It is clear," says one of them, "that having commenced business, and put its paper in circulation, it (the Bank) could not enforce the specie part of the second and third instalments of the capital. in new acquisitions of specie. * " " The Direc- tors acted wisely in discounting the notes of the stock- holders, payable in specie, sixty days after date, for the payment of the second instalment."2 It is contended by the founders of these institutions, that this mode of forming Bank stock, is perfectly cor- rect. It is stock may be created to almost any amount. The Bank risks nothing, and does not increase its cir- culation; for the notes which it pays out at one counter in discounting stock notes, are paid in at another counter in subscriptions. The subscribers pay a certain sum to the Bank as borrowers: but they receive back the same amount as stockholders. The whole business, is nothing but a paper transaction between the Bank and its stock- holders. Many of the present owners of stock have paid their hundred dollars' worth of property, or perhaps given an advance of twenty per cent for the shares they hold: but what they paid, never went to form capitals of the Banks. They paid it to the original subscribers or to those who bought script from the original subscribers. 1 Paragraphs on Banks, Philadelphia, 1811. Dr. Bollman was a zealous advocate for the renewal of the charter of the Bank. 2 "A Friendly Monitor," Philadelphia, published December 15. 1819, and re-published September 17, 1822. WHOLE NO. 16 Paper Money PAGE 101 Society of Paper Money Collectors, Inc. Secretary's Report Active membership as of August 21, 1964 727 (Includes through member number 860) New members as of 30 June 1965 558 (Includes through member number 1418) Members reinstated 2 Members deceased 6 Resignations 14 Members dropped for non-payment of dues 84 NET MEMBERSHIP as of June 30, 1965 1,183 NET GAIN IN MEMBERSHIP 456 Members added June 30th through August 23rd 53 NET MEMBERSHIP as of August 23, 1965 1,236 August 23, 1965 J. ROY PENNELL, JR., Secretary Society of Paper Money Collectors, Inc. Treasurer's Report Bank balance as of June 30, 1962 $1,126.46 Bank balance as of June 30, 1963 1,918.58 Bank balance as of June 30, 1964 1,634.76 July 1, 1964 to June 30, 1965 INCOME: Membership dues (net) $5,831.69 Extra magazines sold (net) 244.00 Advertising (incl. some due previously) 1,100.75 Cleveland banquet (Aug. 1964) incl. raffle 571.25 Mrs. E. Osmun contrib. to exhibit award 10.00 Total $7,757.69 EXPENDITURES: Printing and mailing 4 issues of PAPER MONEY, incl. $234.07 engraving & $30.00 mailing permit $2,963.96 Miscellaneous printing 202.51 Miscellaneous postage 255.72 Editorial service 300.00 Incorporation and copyright fees 95.00 Banquet costs (Aug. 1964 at Cleveland) 515.67 Reimbursement to Past Secretary George Wait 200.00 A.N.A. dues for 1965 6.00 Total ,538.86 Net gain, July 1, 1964 to June 30, 1965 $3,218.83 $3,218.83 Bank balance as of June 30, 1965 $4,853.59 To the best of my knowledge and belief, all money paid to the Society and all expendi- tures made by it since its inception have been recorded in its account in Lawndale National Bank of Chicago. The account was established in November 1961. The Bank has never made a charge for service. July 15. 1965 GLENN B. SMEDLEY, Treasurer PACE 102 Paper Money WHOLE NO.' 16 The Bank of Zilwaukie, Michigan By Carl L. Roethke Only known sheet of the Bank of Zilwaukie notes. The unusual layout was the work of Rawdon, Wright, Hatch & Edson. From the Ralph Byron Collection. WHOLE NO. 16 Paper Money PAGE 103 In 1849, two brothers named Johnson came to the Saginaw Valley. At a point on the Saginaw River which, at that time, marked the head of deep water navigation, they laid out and started a village named Zilwaukie. They built a dock, warehouse, sawmill, general store and several houses, and planned to construct a bank for which they had a quantity of currency printed. The brothers somehow overlooked the twin communi- ties of Saginaw City and East Saginaw, a short dis- tance upstream, which had the river deepened to admit lake freighters to their docks and forged rapidly ahead. In 1858, the brothers failed. Their sawmill property which housed their safe was sold to James H. Hill. Ezra Rust, later to become one of Saginaw's lumber barons, was placed in charge of operations. Several times in the next few years one brother or the other would show up at the sawmill and request that their old safe be opened, suggesting that some of their personal papers might be inside. Since they could pro- duce no key. Rust refused. About 1863, Hill's operations at Zilwaukie were con- cluded and the office records and furniture were moved to Saginaw. One of the last things to meet Rust's eye was the old safe formerly belonging to the Johnsons'. The door was forced open, revealing package upon pack- age of crisp new notes of the Bank of Zilwaukie which had never opened its doors due to the Johnsons' failure. Rust filled his pockets with the money and returned to Saginaw, where he displayed it to the great amusement of his acquaintances. Whenever he wrote to friends in the Union Army, he would enclose a note or two for curiosity. It wasn't long before letters by the score were thanking him and asking for more of the "good" money. The people down South seemed to like Zilwaukie notes better than their own "shinplasters." The village still exists today and was recently incorpo- rated as a city. It is now spelled Zilwaukee. The Confederate Museum By Everett K. Cooper The Confederate Museum (White House of the Con- federacy) in Richmond houses the largest and most valuable collection of Confederateiana. Included in the collection are many specimens of Confederate paper money but of more interest to numismatists are the many unique items related directly to production of Confeder- ate currency. These are: LITHOGRAPHIC HAND PRESS One of a battery of six hand presses used by Ludwig Hoyer and Carl Ludwig. (One other press survives and is owned by the Dietz Press of Richmond.) The press is described by the Museum as a "frame con- structed of cast iron, which is supported by four legs, carrying a bed of heavy oak. The bed is moved to and fro, on a track, by means of cog wheels. The printing stone rests upon this bed. In the printing process the stone with its inked impression is covered first with a piece of printing paper, a layer of several sheets of paper and finally a tight sheet of zinc or copper. The resulting sandwich is run on the bed under a scraper which exerts controllable pressure on the printing stone resulting in an even impression on the printing paper." The press was made by G. Cooper of Augusta, Georgia, and has a size of approximate 30 inches wide by 50 inches long. PAPER CUTTING MACHINE This piece of equipment (weighing 2.000 pounds) was used by Hoyer & Ludwig in their plant at Broad and Ninth Streets in Richmond. This cutter, made by Hughes Amber in London. was used in cutting through several sheets at a time to cut the individual notes from the sheet. COPPER ENGRAVED PRINTING PLATES Plate used by Blanton Duncan for the face of the $10 September 2, 1861, Negro-picking-cotton note, plate A. (Criswell T-29). Plate for face of $5 note September 2, 1861, boy and blacksmith vignette. (Criswell T-32). ENGRAVING OR TRANSFER STONE USED BY HOYER & LUDWIG Impressions taken from this stone finished and grouped onto a printing stone. This particular note is the $20 September 2, 1861, sailor leaning on capstan and sailing ship vignette, plate letter BA (Crisfell T-18). TREASURY DEPARTMENT SAFE Large iron safe used by the Treasury Department. key lock, with two strap hinges. ALBUM Printed album prepared by Raphael P. Thian in 1876 with type-set genuine notes pasted on the pages. In- cluded are two Montgomery notes ($1000 note serial #292 and $50 note serial #1209). (CONTINUED ON PAGE 104.) Paper Moiley WHOLE NO. 16?AGE 104 Islas Del Cisne George W. Wait Originally known as Santanilla, Swan Island is named for Captain Swan, the pirate who used it as a base for his operations. It is actually two coral islands, 400 yards apart, totaling one square mile in area, located 98 miles off the coast of Honduras. It is so small that most geographies and maps ignore it. It is noted for hard- woods, tropical fruits, and large turtles. It has rich soil, and fishing is good off its coasts. It is difficult to con- ceive of a paper money emission in such a tiny tropical paradise, but seeing is believing. In the 1840s, an American company began the exporta- tion to the United States of guano, the bird-deposited fertilizer. The illustrated notes were issued in 1867, probably to pay the employees of the guano company. Notice the similarity to those issued about the same period by the various Michigan mining companies, usual- ly payable in New York or Boston. They deviate from the older state bank note style in that they are more in the nature of drafts, and were probably designed that way to avoid the ten per cent tax imposed by the United States in 1865 on the issuance of private paper money. The Swan Island notes have these unusual features: Although issued in a U. S. possession and payable in the United States, the notes can also be con- sidered as foreign since they were issued outside our continental limits. The issuing company is not indicated. They bear no imprint of engraver or printer. Shortly after the issuance of these notes, the discovery of phosphates in Florida killed the guano industry, and Swan Island was abandoned. For many years it was uninhabited, but in 1893 Captain Alonso Adams of Mobile. Alabama, the former Captain of a guano ship, moved there with his mother, father, brother and a Negro servant. Marconi's invention of the wireless telegraph made it a necessity for ship installations. The United Fruit Corn- pany wanted to establish a wireless relay station on Swan Island, directly in the path of its ships from New Orleans. In return for the privilege of having the station, they gave Captain Adams the right to stop United Fruit ships. So, if he wanted to mail a letter, Captain Adams hoisted a flag and a ship of the Great White Fleet dropped its anchor! The Adams family returned to the United States in 1916. In that same year, Dr. Will Brooks of Boston formed the Swan Island Company to cultivate tropical fruit. Modern facts about Swan Island are somewhat obscure. Some references quote the current population as 20, with a radio station and a lighthouse. It is known that the island was a jumping off place for the Bay of Pigs inva- sion and that the radio station now dispenses anti-Castro propaganda. In an attempt to gather Swan Island information, the author exhausted the references of several libraries, in- cluding the New York Public Library. He even read (in Spanish)) the proceedings of a commission appointed by Honduras to study the ownership of the island. The New York Directories of the years 1867 and 1868 were con- sulted with the hope of identifying William Watson, the New York Treasurer of the guano company. As a last resort, a long letter was written to the Post- master of Swan Island for information. The enclosed stamped, addressed envelope brought no answer. Per- haps the Postmaster was temporarily busy pulling in great fish from the surrounding waters, or resting under the tropical foliage. Possibly he reasoned that only a pro-Castro agent would want all that information and Cold War security would be endangered. Possibly the Captain Adams agreement has expired and the ships won't stop to pick up my letter. Who knows—manana I may hear and be able to tell you more. The Confederate Museum (CONTINUED FROM PAGE 103.) CURRENCY The collection has numerous specimens, but the most unusual is the $270 in notes of the February 17, 1864 issue which were carried by Jefferson Davis when he was captured. TREASURY DEPARTMENT SEALS A CSA monogram stamp on a small wooden handle which was used by Mann S. Quarles to stamp every package that was .officially removed from the Treasury Department. It is not like the palmetto stamp found on the corner of some February 17, 1864 notes. Three embossing dies engraved with the Treasury Department seal as used to put the embossed seal on Confederate bonds. The staff of the Museum indicated the possibility of a future special exhibit devoted to Confederate and South- ern States currency with all of their material grouped together for exhibition. MP _ _M•n•=______...JMIPOW n nt4 tlPf fa AC6-7. /n Ong frelfida,. TWENTY-RVE CENTS rilte ela# /e;my rieetwir/. -g f' ''.;1--s.-ggasx*awsuRs24E=i4 C-Roan 24//e.tn••/, (An/ // IkE,AVIsmswr,,,Nammax&TVailitiWear* 4c) -":"'!7/011n.ta,4„,/, /64 (WIZ .._._<-zWey fileafri, on/ freden/afee'w, ONE DOLLAR, ,Iwo/(L1 dame tie my (re/wild. uperintelident. • r2117 /e) ....(}1eaiet, on/ frevn/a/een, FIFTY CENTS, fine/ ehye .0/tine le) my firreveni. _ArLetea' To WM. E. WATSON, 'Tress'r, i Stoperintetidetil. Ki 4,\> (3,*• NEW-YORK. To To WM, E. WATSON, Trese'r, NEW-Y07K. w„4 =att._ Vte„ • ti pet • i rstetiderzt. \ • :tt,"•- ti!Q CA N. E. WATSON, Troas'r, NEW-YORK. WHOLE NO. 1 6 Paper Money PAGE 105 The Swan Island notes snr..19Fraccilitirrrilr-ITE THIS CIFIRTIFISS TNAT TNERS IS PEPOSIT IN THE TREASURY OF , %nig mfliglAtVIAVAfti/44111.411116111 P 000002461 P 000002 146 I -?* 1101211111C ILMAIMEIC /0, S.% !SILVER PA A: M.t%fl 1,113:1711,1111/11.Y. Mtn tii]Ellir41111 V 1E11111 Eaginfitti 191U • WS US. 7.0. ISS All SISIS MOOG APO 141,1. WASIIIM:TON.DA' Wj'44/11AnigStk G 000002146 A IS 71110. US 0 PRIVATE PAGE 106 Paper Money WHOLE NO. 16 Collecting by Serial and Plate Numbers An Outline By Bert Hart Although paper money collectors have always shown interest in collecting by serial number, and to a lesser extent by plate number, there has been a great upsurge of interest in this area since the issuance of the one dollar 1963 Federal Reserve Notes. Society members with an interest in this field include J. R. Coker, Harry Coleman, Wm. P. Donlon, Nathan Goldstein II, George Killian, and James Seville. I would be most interested in receiving the names, collecting interests, and want lists of others who collect in this way, and will act as a clearing house. Because widespread interest in collecting in this man- ner is so recent, there is a great need for the exchange of information which is of value to serial and plate number collectors. Bank tellers and others who handle new currency, whether numismatists or not, should be made aware of what notes are of interest. At the same time, collectors in the field should not hesitate to ex- change information and their duplicates through the mail. A few dealers have started to handle this material, and more should be encouraged. Finally, some sort of systematization of the types of collecting possible within the field is needed, and I have attempted to outline this below. I do so knowing that I am not including the ways in which many people collect; however, I have tried to include all of which I have heard. My remarks will per- tain mostly to the one dollar 1963 Federal Reserve Notes, unless otherwise noted. A. By Serial Number 1. LOW NUMBERS This is a very active area. Usually, four or more starting zeroes are wanted, although one collector has varied this by attempting to complete Federal Reserve sets of 12 all starting with four zeroes, all with three zeroes, two zeroes, etc. When the Federal Reserve Notes were about to be issued, it was announced that no low numbers would be printed to avoid difficulties with col- lectors. However, I own a $1 Chicago note with serial number G00000246A, found with 244 and 245 in a bank pack that otherwise consisted of much higher numbers. Therefore, I believe that lower numbers were printed, but that they were deliberately mixed with higher ones to avoid collector problems. Numbers as low or lower have been reported for star notes, as I recall, and regular numbers which are lower may also exist. Does anyone have a note starting with six zeroes? WHOLE NO. 16 Paper Money PAGE 107 2. BY "UNUSUAL" NUMBER a. Repeating Numbers. In the purest form, this would be a serial such as 88888888, which, of course, would be quite rare and hard to find. More reasonable would be combinations such as 66552211, or 88811888, both of which are represented in my collection. Another good example would be the 1953A $5 Silver Certificate pictured on page 25 of Donlon's "Price Catalog of United States Small Size Paper Money", with serial number F 02020202 A. Or one might he interested in repetitions of a digit five or six times. regardless of the other digits. A serial number ending in five or more zeroes, for example, is quite attractive. b. Palindrome Serials. A palindrome serial number reads the same forwards as backwards. It is easy to check for a palindrome serial number, for the fourth and fifth digits will be the same. These are not as scarce as they seem, appearing every 10,000 notes. c. Number Sequences. The best example here would be a serial such as 12345678, or one in descending order. There are many variants of this, such as 24681357, etc. 3. BY FIRST OR LAST NUMBER Thanks to the information recently released by the Bureau of Engraving and Printing, the approximate first and last serial numbers of most small size notes are now known. The object here is to find a serial number as close as possible to the first or last number, or even to get one higher than the official last number, which occurs on the earlier small size notes. The ideal is to get the "change-over pair," showing the last and the first together. This is not as difficult as it sounds, for on many earlier issues many such pairs may exist for a single pair of notes, due to use of plates until worn out and use of many numbering machines. Since the chief excitement here lies in the chase, this is one area recom- mending itself to the collecting of circulated notes. 4. MATCHING NUMBERS a. Matching Serials. Here the object is to get two bills, of different issues, districts, denominations. or even types, which have the same serial number, usually ignor- ing the prefix and suffix letters. Several such pairs have been put together involving Federal Reserve Notes, and I own two pairs, each consisting of a Silver Certificate and a Federal Reserve Note. When the 1963A one dollars are released. it will become possible to have identical serials including the preffix and suffix letters! b. Last Digits Match. Several dealers have been sell- ing Federal Reserve sets in which the last two or even three digits are the same on all the bills. c. District Number Match. Here the last number, or rather. pair of numbers. on each bill in the Federal Reserve set matches the District number of the issuing Federal Reserve Bank. 5. FIRST NUMBER SEQUENCE I have attempted. on the Chicago star Federal Reserve Notes. to get one starting with 00. one starting with 01, 02. and so on. I have been quite lucky in this quest, missing only 01, 04, 010 and a few higher ones. The highest number I have seen so far is G14 . . . and so the complete collection of such notes bearing the Grana- han-Dillon signatures will probably be about 17 or 18 notes, surely not too expensive when one considers that they were released over a period of a year and a half. 6. BY SUFFIX LETTER This is another active field. The prefix letter on the Federal Reserve Notes does not change, indicating as it does the district. As only 100,000,000 notes can be printed before exhausting all possible number combina- tions, the suffix letter is advanced and printing begins again with 00000001. So far, suffix "B" notes have been released by New York, Chicago, San Francisco, Atlanta, and Richmond, and a "C" note by Chicago. I suspect that next to come will be Philadelphia and Cleveland "B" notes and New York and San Francisco "C" notes. On older issues, such as the one dollar Silver Certificates, both letters can change, and there is at least one beauti- ful collection on the 1957 Silver Certificates of "A ... A," "B ... A," and so on through "Z ... A." 7. PERSONAL FANCY One can look for combinations that match one's birth date, telephone or Social Security number, etc. One collector is looking for numbers which approach physical constants such as pi, e, and so on. B. By Back Plate Number 1. ALL OF THEM The lowest back plate number on a regular Federal Reserve one dollar note that I have seen is #397; the highest number, of course, is increasing day by day. The lowest for star notes is 406. In addition, some of these numbers were used on 1957B Silver Certificates. so in all there are less than a hundred different to col- lect. This is one field in which the collector is apt to be pretty much alone, however. 2. BY FEDERAL RESERVE DISTRICTS Picking a given back plate number, a collector could try to get as many different Districts with that number as possible. Are complete sets possible? I do not know. 3. COLLECTING TO STUDY THE RELATIONSHIP BETWEEN BACK PLATE AND FRONT PLATE. AND TO SERIAL NUMBERS As serial numbers increase, the back plate number tends to increase, although the relationship is not per- fect. One could look for pairs of notes in which the hack plate is higher but serial is lower on one of the bills. How about the front plate? Is there any re- lationship here? I don't know. C. By Front Plate Here one may attempt exactly those things listed under "B." On the Federal Reserve Note one dollar, serials range from 1 to about 75 thus far, and again the relation- ship between serial and plate number is only approxi- mate. k v fa- and s Ctliarter Cents. . - iNICFORT, December *Rh. 11837. 1.14 .11'..aria`V3ii :;D:tlaW4111 '.1411 4U.13 KEN'rUCKIT. Treasurer, or Bearer, welve ancta Half Cents,, when the amount of Fiv, Dollars is presented. By order of tho Board of Trusted, rhairnut Pay r !al p*, or Hearer. TS, PAGE 108 Paper Money WHOLE NO. 16 Supplement to Kentucky State Banks By Earl Hughes This is Supplement No. 1 to "Kentucky State Banks" in the Winter 1964 issue of PAPER MONEY. Through an error, the towns of Henderson and Mt. Sterling were omitted from the manuscript. Thanks to Fred Marckhoff, Robert Lindesmith and Ellis Edlow, additional listings are possible. After having examined one of the Savings Bank of Louisville, Nashville, Ten- nessee notes, I find nothing to indicate that this bank is a branch of the Savings Bank of Louisville, (Kentucky). The information received from collectors indicates very little change in the rarity status of the notes as given in the original article. Only one rarity 11 note was reported; the Bank of Kentucky at Danville, changing the rarity of this branch from 11 to 10. Vying for the most common rating are the Frankfort Bank and the Farmers Bank of Kentucky at Frankfort. Of all notes reported, 18 per cent were of the former bank and 15 per cent of the latter bank. Additional listing follows: CITY BANK RARITY Elizabethtown Union Bank of Elizabethtown 10 RANI. T,t ottT, Ileemmbe- 20th, 643f. AHtt''4A r 884NQ8 OF Trail KENTUCK V. tl Puy to n. fl) "4W°7-1,Y.16 Treo.nirer, or ItAtrcr. FIFTY' CENTS, u hen 11, amount of Fire MMus n. prawn/nod. By twder of the Board of Trustee-n, • aii It t it(/ L t 72. Trealurer, or licarer, ONE DOLL A R, Thdhus prrpented. 01 'num Choirmtio 6mumutuntteadnnom WHOLE NO. 16 Paper Money PAGE 109 A set of 614¢, 120, 25¢, 500 and $1 scrip issued in 1837, by the Frankfort Board Of Trustees, payable at the Frankfort Branch of The Bank of Kentucky when the amount of Five Dollars was presented. Florence Covington and Lexington Turnpike Road Co. 10 Frankfort E. M. Stackpole 10 Hopkinsville Bank of Kentucky (Br.) 6 Bryan and Company's Bank 11 Christian Bank 8 Lancaster Lancaster Exporting Company 11 Lexington Farmers and Mechanics Bank of Lexington 11 The Phoenix Hotel "In Confederate notes" 10 Louisville Commercial Bank of Louisville 11 Mount Sterling Bank of Mt. Sterling 10 Exchange Bank of Barnes White and Company 9 Farmers Bank of Kentucky (Br.)) 11 Hoffman Barnes and Company's Bank 11 Nicholasville S. Nolan & Son "At Banking House of D. A. Sayre & Company. Lexington" 10 Owingsville Bank of Owingsville 10 Richmond J ( ?) I ( ?) Woods 10 Shelbyville Farmers and Mechanics Bank of Shelbyville 11 Springfield Farmers and Mechanics Bank of Springfield 11 Winchester Winchester Commercial Bank 10 Location Unknown Bank of Washington Limestone Bank Green River Bank Hinkston Exporting Company Center Bank of Kentucky Farmers Bank of Gallatin Farmers Bank of Jessamine PAGE 110 Paper Money WHOLE NO. 16 Fractional Currency Fourth and Fifth Issues Papers and Printing By M. R. Friedberg During the 2nd Session of the 43rd Congress, the committee on Banking and Currency of the House of Representatives conducted an investigation of the Bureau of Engraving and Printing. The results of their investigation and the testimony given before the committee is printed in the documents of The House of Representatives as Serial No. 1659, Re- port No. 150 dated February 16, 1875. Particularly interesting to the fractional currency collector is a detailing of the paper and printing of the 4th and 5th issues. In direct testimony by Geo. B. McCartee, Chief of the Bureau of Engraving and Print- ing; George S. Boutwell, former Secretary of the Trea- sury; Wm. A. Richardson, Secretary of the Treasury; J. M. Wellstood of the Columbian Bank Note Co.; and J. M. Wilcox, President of J. M. Wilcox & Co. (paper makers), the following factual data is revealed: (Parenthetical notes are the writer's). FOURTH ISSUE The first notes were issued in July, August and Sep- tember 1869, on a paper having minute pink fibers dis- tributed throughout, with a repetitive single-lined water- mark of the letters US (United States) over the entire sheet. On July 21, 1869, Secretary Boutwell issued notice that he had adopted a distinctive paper having "the introduction of colored silk, cotton, or other fiberous material in the body of the paper while in the process of manufacture as one of its peculiarities" and made it a felony for any person to have in his possession such paper similar to that adopted by the Secretary of the Treasury. The use of the watermark proved to weaken the paper and was discontinued after a short time. However, the distributive pink fiber was never discontinued and the first counterfeits were detected by the Treasury Depart- ment because of the missing fibers. J. M. Wilcox & Co. was the exclusive supplier of the paper used for the 4th and 5th issues, and they further developed and patented a method for depositing a local- ized strip of blue-colored jute-fiber on one side of the sheet and along both edges of the sheet of paper in addition to the fibers distributed throughout the paper. This "localized fiber paper" was adopted and used ex- clusively after December 1871. The notes of the 4th issue were printed by a combine of the American Bank Note Company and National Bank Note Company, but the seal was printed and the notes AA ere trimmed by the Bureau of Engraving and Printing. In 1871, the Treasury Department started a secret process of "sizing" and waterproofing of the paper. (The writer postulates that the first usage of this "sizing" is the cause of the "orange," "chocolate brown" and "purple brown" seals noted on certain notes, and the "sizing" chemicals were then adjusted to prevent inter- action with the ink used in printing the seal. Further, the "pink face" notes were undoubtedly caused by con- tamination of the sizing material.) The testimony indicates that previously cataloged data describing sheet size and number of notes per sheet is incorrect. The testimony is as follows: NOTE VALUE SHEET SIZE SUBJECTS OBV. REV. PER SHEET 10c 111/2" x 143/4 " 20 ABC NBC 15c 111/2" x 12 1/2" 15 ABC NBC 25c 111/2" x 13 7/2 " 15 NBC ABC 50c (Lincoln) 11 1/2 " x 141/2" 15 ABC NBC ABC—Printed by American Bank Note Co. NBC Printed by National Bank Note Co. (Note that seals of all notes were printed by the Bureau of Engraving and Printing.) In January 1870, the 50c having been successfully counterfeited, a new note was issued (50c Stanton) having the back printed by American Bank Note Co. and the obverse and seal by the Bureau on 91/4 " x 153/4" blue-end, localized-fiber paper with 16 subjects to the sheet. In November 1871, the authorities decided to change the character of the paper (to blue-end, localized-fiber) and new plates were made for the 10, 15 and 25c notes: NOTE VALUE SHEET SIZE SUBJECTS OBV. REV. PER SHEET 10c 71/2 " x 163/4" 16 ABC NBC 15c 81/4" x 163/4" 16 NBC ABC 25c 83/4" x 163/4" 16 NBC ABC In June 1873, the 50c notes were again counterfeited. Because a new issue then became necessary, the Secre- tary of the Treasury gave the printing of the new "backs" (50c Dexter) to the National Bank Note Co.-50c backs. size 81/9 " x 163/4", 14 subjects, with the faces and seals again done by the Bureau. FIFTH ISSUE In January 1874, a new contract was made with the Columbian Bank Note Co. for the printing of the backs of a new 10c and 25c note with the faces and seals by the Bureau as follows: WHOLE NO. 1 6 Paper Money PAGE 111 NOTE VALUE SHEET SIZE SUBJECTS PER SHEET 10c 7 1/2 " x 15 3/4 " 14 25c 8" x 153/4" 14 (Since the report does not mention the 50c Crawford note of the fifth issue, back by Jos. Carpenter of Phila- delphia, we must postulate that it was issued after the date of the report.) Note that any listings of 4th or 5th issue as being printed on "plain" paper are incorrect because testimony states that the absence of the distributed fibers was an indication of a counterfeit note. The testimony further states that some counterfeiters tried to print the "fibers" on the note surface by simply scratching the printing plate. We can further assume that notes having lavender or blue fibers distributed through the pulp used to make the paper are not a major variety but result from some scrap from defective "localized fiber" paper mixed back in the pulp. Thus they are simply notes issued after January 1870, when the "localized fiber" paper was adopted for the 50c Stanton. We should further revise our listings of the 4th issue to differentiate between "waterproofed" or "sized" and "unsized" notes. This difference can be detected by comparison of the "slick" feel of sized notes when com- pared to the "soft" feel of unsized notes. The listings of proofs should also indicate that a too- small 10c proof of the reverse was made by the Colum- bian Bank Note Co. A mistake was made in transmitting the size of the new note to the Columbian Bank Note Co., and the proof prepared was rejected by the Bureau because it had already engraved the face to a larger size. Mr. Wellstood of Columbian Bank Note testified that only a proof from the die was printed. A corrected listing should be as follows: ABC—Printed by American Bank Note Co., New York, New York NBC—Printed by National Bank Note Co., New York, New York CBC—Printed by Columbian Bank Note Co., Washington, D. C. CAR—Printed by Jos. R. Carpenter Co., Philadelphia, Pa. BUR—Printed by Bureau of Engraving & Printing, Washington, D. C. FOURTH ISSUE 1st Series—July 1869 First Issue Date—all notes watermarked US (repetitive). All paper having minute pink fibers distributed throughout Note Value Subjects/Sheet Obverse Reverse Seal By 10c 20 ABC NBC BUR 15c 15 NBC ABC BUR 25c 15 NBC ABC BUR 50c (Lincoln) 15 ABC NBC BUR 2nd Series—Watermark discontinued—all paper having minute pink fibers distributed throughout 10c 20 ABC NBC BUR I5c 15 NBC ABC BUR 25c 15 NBC ABC BUR 50c (Lincoln) 15 ABC NBC BUR 3rd Series—January 1870 First Issue Date—paper having minute pink ized blue fiber on right end obverse 50c (Stanton) 16 BUR fiber distributed throughout and local- ABC BUR 4th Series-1871 Issue Date—waterproofing (sizing) compound applied to notes of 2nd and 3rd series above 10c No localized fiber 20 ABC NBC BUR 15c No localized fiber 15 NBC ABC BUR 25c No localized fiber 15 NBC ABC BUR 50c With localized fiber 16 BUR ABC BUR 5th Series—November 1871 Issue Date—paper having localized blue fiber on right hand end of obverse plus minute pink fibers distributed through the paper. All paper is coated with waterproofing (sizing) compound. 10c 16 ABC NBC BUR 15c 16 NBC ABC BUR 25c 16 NBC ABC BUR 6th Series—July 1873 First Issue Date—paper having localized blue fiber on right hand edge of reverse plus minute pink fibers distributed throughout the paper. All paper is coated with waterproofing (sizing) compound. 50c (Dexter) 14 BUR NBC BUR (CONTINUED ON PAGE 113.) /..7.7 //i. 4, 7/, r .L if b" ip'eJf-t Niosivakoi vom lit.. 7 PACE 112 Paper Money WHOLE NO. 16 Events That Affected Early Texas Currency By Cliff I. Murk St. Louis was founded in 1764 by a French fur trader. By 1800 it had grown but a little larger than it was at the outset. However, its location made it the main base for settlers moving west. Lewis and Clark marshaled their forces and jumped-off from St. Louis on their epic trek to the Pacific seaboard. It was used thus by other early western explorers, and as the frontier moved west- ward, it still served as a marshaling yard for the hordes that spilled west. In 1812 an area of about the size of the present state of Louisiana was set up as a separate territory, and the rest of the -Louisiana Purchase" became Missouri. This was followed by an influx of planters who were looking for cheap land. In three or four years, land that had sold for ten cents an acre was bringing eight and nine dollars. The population mushroomed too. It reached some sixty thousand by 1820, all of whom were clamor- ing for statehood and the privilege of owning slaves (as most of the planters were following a southern pattern and already owned slaves). At this early date, the slave question was already a sore spot, as 11 of the states in the Union allowed slaves, and 11 did not. With an equal balance of senatorial power, neither side was going to let the scales be tipped in the favor of opposition. This deadlock was finally broken by the enactment of the Missouri Compromise, whereby Maine. a free state, was allowed entry into the Union, along with Missouri, a slave state. The compromise also outlawed slavery in any state formed in the future (north of the southern boundary of Missouri), and it was thus that Arkansas and Michigan were admitted as states in 1836. This brings us to Texas. Under Spain little was done for the colonies except at- tempts to exploit them and to police their borders. The Spanish population in Texas was very low. It never did exceed four thousand. counting half-breeds. These people made a slim living raising wild "Cimarron" cattle for their hides and "Boca" (a sundried beef). Little was known about the country. Maps of the period show vast spaces of "Land Unknown," which lay to the east of San Antonio. The Spanish had lost enough of their horses so that great herds of wild horses had become established, and these, in company with the wild cattle, overran the land. These animals plus the fact that there was land proved most tempting to the Americans. Mexico revolted and in 1821 Texas became a state of the republic of Mexico. It was from this state that Stephen Austin had a claim validated which his father had originally obtained from the Spanish. It was located near what is now Houston and amounted to a small state. Under this grant he had agreed to settle three hundred families on his domain, but he bettered that. In ten years, he had successfully located more than five thousand persons. These settlers did not get the land free, but by making small payments over a six-year period, with tax exemption for that time, they had a most enticing deal. Each settler had a choice of 177 acres of tillable land or 4,428 acres of grazing land. Settlers came from all over what was then the United States, but the majority were drawn from the South. Most of these settlers were interested in cotton land, and therefore, many brought their slaves. The people who settled Texas were supposed to swear allegiance to Mexico and embrace the Roman Catholic religion. Most met these requirements very casually, and this did much to promote friction and animosity between them and the native Mexicans. Tempers flared in both camps; there were even a couple of short-lived revolutions. It was at this time that the scene was graced by the entry of Sam Houston, a sartorial dandy who stood six feet six inches tall. He abandoned both his wife and an already distinguished career in the North for but one purpose. He was obsessed with the purpose of free- ing Texas from Mexico. It was finally accomplished four years later at San Jacinto. where he defeated a much superior force. captured the Mexican dictator Santa Anna TREASURY MIMILICISSIEU- tirarkvable for a (,./ t.onetityrot due. WHOLE NO. 16 Paper Money PAGE 113 and forced him to recognize Texas as an independent nation. This is not what the rank and file Texans really wanted, because they were all predominantly American. As soon as it was feasible they petitioned the United States for annexation. The Missouri Compromise raised its head. Texas was slave. This and the facts that Mexico was still smarting from its defeat by Texas and that the United States did not care to provoke a Mexican war, left Texas high and dry. It was forced to carry on as an independent government for nine years until 1845, when statehood was finally granted. From the time that Sam Houston won independence for Texas until it became a state, there were 13 issues of warrants and notes. They were issued for a number of reasons and uses, on a great variety of papers, and range from handwritten to printed to lithographed. They are all hard to obtain. Quite a number are signed with Sam Houston's name, but this was not his signature. An old wound flared up. and he was unable to use his hand. The Texas Congress authorized William G. Cooke to sign these notes for him. For the further study and identity of these various notes of the provisional government, government of Texas. republic of Texas. and the state of Texas. one should refer to Criswell's Confederate and Southern States Currency. Space here does not permit the com- plete treatment that he gives in his new revised edition. The background of Texas currency is a very intriguing bit of Americana and I hope that this brief resume of the historical events leading up to the issuance of these notes will give you a better insight and appreciation of the issues themselves. Fractional Currency Fourth and Fifth Issues (CONTINUED FROM PAGE 111.) FIFTH ISSUE July 1874 First Issue Date—paper having localized blue fiber on right hand edge of reverse plus minute pink fiber distributed throughout the paper. All paper is coated with waterproofing (sizing) compound. 10c See note 1 14 BUR CBC BUR 25c See note 1 14 BUR CBC BUR 50c 14* BUR CAR BUR *Postulated (no definite proof) Note 1--No attempt has been made in this listing to differentiate between red and green seals and long and short key varieties as this listing is based only on information contained in the testimony of Report No. 150 of the 43rd Congress, 2nd Session. Gold Certificates All paper money issued by the United States Govern- ment for general circulation is redeemable. Holders of Gold Certificates can no longer convert them into gold but can receive face value "in dollars," as for any other type of U. S. paper money. (GWW) Did You Know That — Crisp currency is more desirable to the public than soft, dirty currency. Banks prefer soft. clean bills be- cause they are easier to handle. Dirty bills are returned to Washington D. C., to be washed and ironed at a cost of 30 cents for each 100 bills. It costs $1.50 to print 100 bills. Michael B. Kromeki PAGE 1 14 Paper Money WHOLE NO. 16 11111n1n1111Me, The National Capitol on United States Currency By Howard W. Parshall Two dollar United States Note, Series of 1917, with central vignette of the Capitol. LARGE SIZE NOTES 1861 - 1929 $2 United States Note, Series 1917 The National Capitol in Washington, D. C., is the only government building which appears on our cur- rency from the first year of its printing in 1861 until the introduction of the current size notes on July 10, 1929. It enjoys a prominent place on only two types of notes. The most notable is the $2 United States Note (shown above), issued in six series from 1869 until 1923. The other is the $1,000 National Bank Note, Series 1875. A large partial view of the Capitol, from a right angle, ap• pears at the extreme right of the note. On three types of notes (the $1 Silver Certificates, Series 1899, the $5,000 United States Note (back), Series 1878, and the $10,000 Gold Certificate (back), Series 1882, 1888, and 1900, only a small partial view of the Capitol may be seen in the background. The foreground of each type is dominated by a large eagle preparing for flight. On the $1 Silver Certificate, Series 1896 (Educational Note ), the Capitol is viewed in its natural setting as a part of the city of Washington, D. C. On the 5th Silver Certificate, Series 1896 (Educational Note only a partial view of the right wing and the dome may be seen in the background. The foreground is dominated by an allegorical group of female figures. On the $5 National Bank Notes, Series 1882, second and third issues, a small close view of the Capitol is placed in an oval at the extreme right on the back of the notes. On the S20 National Bank Notes, Series 1902, all issues, a medium size design of the Capitol appears on the back. It is a partial view from the left angle, left of center, partly obscured by a female figure. The statue of Columbia, located on top of the Capitol dome, appears on the $5 Demand Notes, Series 1861, and the $5 Legal Tender Notes, Series 1862 and 1863. The Capitol appears on the front of three types (United States Notes, Silver Certificates, and National Bank Notes), four denominations ($1, $2, $5, and $1,000) and eight series (1869, 1874, 1875, 1878, 1880, 1896, 1899, and 1917) of currency. The Capitol appears on the back of three types (United States Notes, National Bank Notes, and Gold Certifi- CURRENT SIZE NOTES 1929 - Present The Capitol appears on the back of four types (Na- tional Bank Notes, Federal Reserve Bank Notes. Federal Reserve Notes, and Gold Certificates), one denomination ($50), and 13 series (1928, 1928-A, 1929, 1934, 1934-A, 1934-B. 1934-C, 1934-1), 1950, 1950-A, 1950-B. 1950-C, cates), five denominations ($5, $20, $100, $5,000, and $10,000), and five series (1878, 1882, 1888, 1900, and 1902) of currency. DENOMI- TYPE NATION SERIES United States Notes $2 869 United States Notes $2 874 United States Notes $2 875 United States Notes $2 878 United States Notes $2 880 United States Notes $2 917 United States Notes $5,000 878 Silver Certificates :',1 896 Silver Certificates $5 896 Silver Certificates $1 899 National Bank Notes $1,000 875 National Bank Notes $5 882 3rd issue National Bank Notes 8100 902 All issues Gold Certificates $10,000 882 Gold Certificates $10,000 888 Gold Certificates $10,000 900 WHOLE NO. 16 Paper Money PACE 115 and 1950-D) of currency. The same view of the Capitol Federa Reserve Notes $50 928-A appears on all current size fifty dollar notes. FederaFedera Reserve Notes $50 Reserve Notes $50 934 934-A The public buildings which consistently appear on other denominations of notes are: $2, Monticello; $5, Federa Federa Federa Reserve Notes $50 Reserve Notes $50 Reserve Notes $50 934-B 934-C 934-D Lincoln Memorial; $10, U. S. Treasury; $20, The White Federa Reserve Notes $50 950 House; and $100, Independence Hall. These buildings Federa Reserve Notes $50 950-A appear only on the back of our current size notes. FederaFedera Reserve Notes $50 Reserve Notes 850 950-B 950-C DENOMI- Federa Reserve Notes $50 950-D TYPE NATION SERIES Gold Certificates $50 1928 SOURCE: Friedberg, Robert, Paper Money of the National Bank Notes $50 1929 United States, (Fifth Edition), The Coin and Currency Federal Reserve Bank Notes $50 1929 Institute, Inc., New York, 1964. Federal Reserve Notes $50 1928 Circulation Privilege Lost The national currency circulation privilege of national banks was discontinued August 1, 1935, when bonds eligible as security for that circulation were called in for redemption. The last shipment of currency to national banks to replace notes destroyed by the redemption bureau was made May 31, 1935. The last shipment 1. U. S. LARGE NOTES 2. U. S. LARGE NATIONAL BANK NOTES 3. U. S. SMALL NOTES Harry M. Coleman P. 0. Box 3032 Tucson, Arizona 85702 Hubert A. Raquet 11 Mount Pleasant Rd. Bedford, Ind. 47421 4. U. S. SMALL FEDERAL RESERVE NOTES C. J. Affleck 34 Peyton St. Winchester, Va. Michael Dorish 308 Grove St. McKees Rocks, Pa. Bill Shaw 1764 Blaine Lane Decatur, Ill. 62521 5. FOREIGN CURRENCY of currency to national banks on bonds deposited to secure circulation was made July 10, 1935. The grand total of national bank currency issued to banks from the inception of the act to its discontinuance was $16,974,264,755. FORREST W. DANIEL 6. OBSOLETE PAPER MONEY (Colonials, Continental, Confederate. Broken Bank Notes, Scrip, etc.) 7. MILITARY CURRENCY (War, Occupation, Concentration Camp and Emergency Issues) 8. FRACTIONAL CURRENCY 9. MISMATCHED SERIAL NO. NOTES :, AGE 116 Paper 'Volley WHOLE NO. 16 SECRETARY'S REPORT No. Name and Address Specialty Small size silver certificates 1412 James M. Osborne, Box 145, Smithfield, N. C. 27577 1413 David R. Crane, 3515 E. 13th St., Tulsa, Okla. 74112 1414 J. T. Hamby, 114 Keowee Ave., Greenville, S. C. 29605 1415 Lewis W. Bahn, 228 Park Ave., Glen Rock, Pa. 17327 1416 Ralph Morrison, 2787 Yorkshire Rd., Pasadena, Calif. 91107 1417 Joseph T. Holleman, 1500 Wannamaker Ave., Summer- ville, S. C. 29483 1418 N. Thomas Abercrombie, 1211 S. Grove Rd., Ypsilanti, Michigan 48197 1419 0. D. Standard, 322 East Coronado, Belen, New Mexico 87(102 1420 Benjamin Karlins, 62 Mill St., Brooklyn, N. Y. 11231 1421 James Green, Jr., Rt. 2 Box 138, John's Island, S. C. 29455 1422 Deno Evangelista, 3001 Arden Way, Sacramento, Calif. 95825 1423 Erwin Woerndel, 441 W. 24th St., Houston, Texas 77008 1424 John Michael Jaremback, 537 Lamberton St., Trenton, N. J. 08610 1425 Ralph C. Russell, Box 106, Allendale, N. J. 07401 1426 Frank E. Howard, 856 Charlotte St., Macon, Ga. 1427 Thcmas D. Read, 45 Kendall Ave., Maplewood, N. J. 1428 Kenneth C. Irvin. 824 Peavy Rd., Dallas, Texas 75218 1429 Mr. Igor Varpa, Lenina 363-35, Riga-24, R. S. S., de Lettonie, U. S. S. R. 1430 Hanover Numismatic Society, c/o Roland L. Clousher, Secy., R-1, Hanover, Pa. 17331 1431 Mrs. Bernice C. Wicks, 5006 North 10th St., Tacoma, Wash. 98406 1432 Daniel Broder, 33 B Boulevard, East Patterson, N. J. 07407 1433 Mrs. Mary Carie, 941 Riverview Dr., Fairbanks, Alaska 99701 1434 George Shorey, 6215 Chef Menteur Hwy., New Orleans, La. 70126 1435 Roger A. Wentz, 50 Park Dr., Torrington, Conn. 06790 1436 Coleman Stoops, 963 Harmony Rd., Newark, Delaware 19711 1437 Clinton P. Frank, 3736 Mockingbird, Dallas. Texas 1438 Frank Joseph, 2401 Eutaw Place, Baltimore 17, Md. 1439 Clarence M. Kemrer, Sr., 1153 Wabank St., Lancaster, Pa. 17603 14-10 Robert M. Stark, 28 W. Delaware Ave., Newark, Delaware 19711 1441 Seymour Sandos, 2522 Soper Ave., Baldwin, N. Y. 1442 Walter McMann, 6656 Mission St., Daly City, Calif. 94014 1443 Fred W. Gadjen, 315 Ridgeville Rd., Louisville, Ky. 40206 1444 Stephen M. Bezark, 2044 Pratt Court, Evanston. Illinois 60201 1445 Larry A. Yorkovich, 5858 W. 60th St., Chicago, Illinois 60638 1446 Leonard F. Winiecki, 932 South Fourth Avenue, Arcadia, California 91006 1410 Frank Tilton Smith, M.D., 3603 Cumberland Ave., Middlesboro, Ky. 40965 1411 Dean C. Blake, 1808 Alberta, Wayne, Mich. 48184 New Membership Roster Dealer or Collector C C C, D C C C C C C C C C C C C C, D C C C C Club C C C C C C C C C C C C, D C C C C U. S. Foreign $1, $2, $5 large size notes $1, $2, $5, $10 small size notes U. S. Coins—U. S. & foreign & paper money Colonial and continental paper American numismatic material Large and modern currency, state of Texas warrants & notes, military script & invasion or guerrilla notes Confederate and small size US notes U. S. U. S. $1, $2, $5 U. S. notes U. S. small currency Paper money of the world $1, $2, Texas and some $5's Obsolete (Western) Foreign Modern currency $1 to $10 Small size paper money U. S. small notes National currency All numismatic items U. S. currency Small size notes Small size, interesting serial numbers U. S. currency Michigan broken bank notes & mining scrip Types, general, $1, $2 & $5 Fractional currency U. S. coins and currency Large bills and fractional currency WHOLE NO. 16 Paper Money PAGE 1 1 7 1447 Frank P. Fritchle, 1163 Pomegranate Court, Sunnyvale, C California 94087 1448 Peter J. Aloisi, 50 Lynnway, Revere, Massachusetts C Silver certificates, federal reserve notes 1449 Gordon Harris, 101 Gordon Parkway, Syracuse, New C, D New York state obsolete York 13219 1450 Catherine Reynolds, 1930 Columbia Road NW, Wash- C, D U. S. and foreign ington, D. C. 20009 1451 George T. Wullaert, 206 Monmoor Avenue, Mishawaka, C Large currency, U. S. Indiana 46544 1452 Carl F. Hammond, 254 Culver Road, Rochester, N. Y. C Canadian and U. S. currency 14607 1453 Alvin Sellens, 6509 East Tenth, Wichita, Kansas 67206 C $1 notes 1454 Ernest N. Urfer, 100 Autumn Drive, North Adams, C Fractional currency Mass. 01247 1455 Lew Bennett, P. 0. Box 287, Brownwood, Texas 76802 C 1456 Kenneth M. Haught, 1164 Johns Road, Clinton, Ohio C CU $1 federal reserve notes 44216 1457 Ralph C. Brant, 705 Chestnut Ave., Barnesboro, Pa. C U. S. paper money & coins 15714 1458 Jim C. Crockett, 6155 E. Mockingbird Lane #118, Dallas, C Large size notes Texas 75214 1459 Ralph De Santis, 108 N. Main Ave., Scranton, Pa. C U. S. paper money 18504 1460 Arthur J. Schroeder, 4550 Jett Road, N. W., Atlanta, C, D U. S. Ga. 30327 1461 Jack Adelman, P. 0. Box 2211, Cleveland, Ohio 44109 C Small size currency 1462 Eugene H. Hiser, 1000 Temple Lane, Newport News, C Small bills Va. 23605 1463 Wm. E. Crowder, 1615 Oak Knoll. Dallas, Texas 75208 C 1464 Miss N. Kraus, 6223 Creston Drive, St. Louis, Mo. C Gold notes and federal reserve 63121 1465 Paul H. Munson, 1009 South 10th St., Laramie, Wyo- C Fractional currency and current sized notes ming 82070 1466 Joseph H. Sprague, 3910 S. E. Franklin St., Portland, C, D Large size notes Oregon 97202 1467 Carl Nessler, Jr., P. 0. Drawer C, Texas City, Texas C U. S. $1 notes, Mexican Revolutionary coins 77591 and currency 1468 Dr. Burton E. Holmes, 411 Nichols Rd. Suite 194, C U. S., Russia, China, Military Kansas City, Missouri 64112 1469 Mrs. Evelyn O'Brien, 617-6th St., International Falls, C Modern U. S. and Canadian coins Minnesota 56649 1470 Laverne D. Kushen, 3827 W. 132 St., Cleveland, Ohio C Stamps, coins & paper 44111 1471 Mrs. Barbara H. Rothleitner, 102 Holderrieth, Tomball. C U. S. large and small Texas 1472 Theodore T. Levy, 316 W. Kings Hwy., Mt. Ephraim, C General N. J. 08059 1473 Mrs. C. R. Snead, 304 Westwood Avenue, Swannanoa, C U. S. & foreign, type sets North Carolina 1474 Sydney Weiss, 1326 East Duval St., Philadelphia, Penn. 19138 C U. S. colonial thru current issues 1475 William E. Florence, 4730 Fillmore St., Hollywood, Fla. C U. S. currency 33021 1476 Dorothy Humitsch, Box 16000, Rocky River 16, Ohio C Foreign paper 1477 Walter D. Allan, 2430 Lakeshore Hwy., Bronte, Ontario C Canada & U. S. paper 1478 Charles K. Lyle, 17594 Coral Gables, Lathrup Village, C U. S. paper & U. S. coin Michigan 1479 Miss Mayre B. Coulter, 37 Westmoreland Avenue, C Obsolete notes of New England Longmeadow, Mass. 1480 Thomas E. Andrews, 10510 Prince Avenue, Cleveland, C Small size currency, silver certificates, U. S. Ohio 44105 notes, & F R notes 1481 Ernest E. Weaver, Jr., 632 Summit Avenue, Westfield, C Confederate & U. S. small size N. J. 07090 1482 Robert A. Sloan, 1022 5th Street, Fairbury, Nebraska C Large & small U. S. currency 1483 R. Thornell Mauer, M.D., 1520-22 Medical Arts Bldg., C Paper money Omaha, Nebraska 68102 1484 Richard H. Reed, Spencers Trailer Park, Mohawk Trail, C Small size currency North Adams, Mass. . 1485 Ray D. Sanders, 2641 Manhattan, Wichita, Kansas 67204 C Small size notes PACE 1 1 8 Paper Money WHOLE NO. 16 1486 Robert S. Kuhn, Post Office Box 5223, San Francisco, Calif. 94101 C, D All types American, Foreign, also misprints 1487 Walter M. Schilling, 125 Elmsford, Clawson, Michigan C General 48017 1488 William C. Kassube, 1337 West Fargo, Chicago, Illinois C Currency 60626 1489 Harvey E. Elfemstein, 2217 N. Melvin St., Philadelphia, Pa. 19131 C Small size notes 1490 James D. Ellsworth, 424 Hastings Street, Alma, Michigan C Change of Address 1240 Jeff Wexler, General Delivery, Washington & Lee Uni- versity, Lexington, Va. 24450 958 Phillip Rochlin, Rt. 1, Box 712C, Accokeek, Md. 20607 949 Donald Allen, 504 Maple, Campbellsville, Ky. 42718 1271 M. D. Stiman, Gen. Del. Main P. 0., Los Angeles, Cal. 298 Ben 0. Anderson, 2100 Inner Circle South, Pinellas Pt., St. Petersburg, Fla. 33712 1349 Milton H. Hartwell, P. 0. Box 446, San Dimas, Cal. 690 Bert Hart, 7130 Cyril Ave., Chicago, III. 60649 1329 Walter Kempin, Jr., 16075 Via Harriet, San Lorenzo, Cal. 1392 Martin Black, 73-09 Little Neck Parkway, Floral Park, N. Y. 11004 120 Alfred D. Hoch, 17 Eva Path Rd., Commack, N. Y. 1384 Paul Rynearson, 2860 Daisy Ave., Long Beach, Cal. 90806 1237 Paul Garland, 608 Mountain View Ave., Maryville, Tenn. 170 Frank R. Schell, 124 Paysee St., Buhl, Idaho 83316 814 Bennett Nathanson, 26 Carter Road, West Orange, N. J. 650 Jack W. Nannery, P. 0. Box 302, Iola, Wisc. 54945 1373 Maj. Peter A. Graubard, 54th Wea Recon Sq., APO San Francisco, Cal. 96334 427 R. H. Porter, P. 0. Box 38, Austin, Texas 78767 91 Ernest J. Littrell, P. 0. Box 396, Red Bank, N. J. 07701 732 Mr. A. Schwartz, 125 Spring St., West Amityville, L. I., New York 42 A. P. Bertschy, 714 E. Glendale Ave., Milwaukee, Wis. 53211 635 Major Walter F. Rogers USMC, 15 Warren Drive, Concord, N. C. 28025 1098 Delmar C. Wise, 2111 NE Hancock St., Portland, Oregon 97212 1014 Richard Germana, 2038 Cornell, Cleveland, Ohio 44106 878 Grant E. Anderson, 1218 10th St. N., Fargo, N. D. 58102 1159 Mrs. George Wasserman, 3711 Traynham Rd., Shaker Hgts., Ohio 44122 792 Raymond E. Whyborn, P. 0. Box 331, Upland, Calif. 91786 591 Matt Krzastek, 5721 Coniston Way, San Jose, Calif. 95129 860 Robert L. Gardner, 1625 Appleton Way, Long Beach, Calif. 90802 1301 Elmon R. Johnson, Whittemore Point Rd., Bristol, N. H. 03222 1341 Roy L. Brown, 1704 Deerwood, Danville, III. 61832 1215 Martin Roberts, 801 E. 11th Ave., Denver, Colo. 80218 909 Thomas D. Cooper, 3258 Folsom St., Romano, Cal. 91767 1292 Allen I. Richardson, 3402 Bristol Rd., Amarillo, Texas 79109 1079 George L. Verrall, P. 0. Box 1733, Gulfport, Miss. 39502 1290 David Halsted, 402 W. Walnut, Chanute, Kansas 367 Kenneth J. Ferguson, Jr., 6702 Detroit Ave., Cleveland. Ohio 44102 20 Julian S. Marks, 4044 Rosehill, Cincinnati, Ohio 45229 1067 Charles Baker, 819 W. 22nd St.. Wilmington, Del. 19800 c ,,YIENIti auattlank IWNTY II OLLARS WHOLE NO. 16 Paper Money PAGE 119 Reinstated 436 Lalji Ramji, P. 0. Box 562, Dar Es Salaam, Tanzania, East Africa 221 Lester B. DeMay, 10729 Dalton Ave., Tampa, Fla. 33615 75 Charles G. Altz, 125 Warner Ave., Jersey City, N. J. 07305 Correction The resignations of T. Homer Brooks, Richard Schneider, and Carl L. Roethke were erroneously reported in Vol. 4, No. 3. All were and continue to be active members in good standing. Dropped for Non-Payment of Dues 1031 James J. Reilly 1040 Cedric C. Reames 1047 Capt. Carol M. Williams 1076 George Garvin 1017 Harold J. Williams 1079 George L. Verrall 1083 George W. Ward 1687 Frank 0. Frazier, Sr. Revisions In the article "Is a Rare $100 Confederate Note a Myth?" by Philip H. Chase in Vol. 4, No. 3, a typo- graphical error was made on Page 63. The number of $50 notes entered in the Confederate Register should be 4,687, not 4,287. In his article "The Rewards of Collecting U. S. Paper Money" appearing in the Summer issue of "Paper Money", Mr. T. Homer Brooks makes the statement, "With the exception of Gold Certificates, all of these issues are still redeemable today." Mr. Brooks wishes to amend this to read. "Gold Certificates are not re- deemable in gold, as stated on the notes, but are re- deemable in dollars as are all other issues of United States paper money." Mr. Brooks was inadvertently listed in the same mag- azine as having resigned from the Society. This is not the case—Mr. Brooks is a member of the Society in good standing and he indicates that his interest in the collecting of paper money was never keener! WANTED OBSOLETE PAPER MONEY (Bank Notes, Script, Warrants, Drafts) of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah, Mon- tana, New Mexico, Colorado; Dakota, Deseret, Indian, Jefferson Territories! or fine Obsolete Paper traded. , seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate Western rarities for advantageous trade. JOHN J. FORD, JR. 176 HENDRICKSON AVE., ROCKVILLE CENTRE, N. Y. Cash paid, Hnve Proof notes from most states, individual rarities 4 I rif,;* 00/IL lilt ',1.--12711/0/ZilUtZl. V4i Assignat de-cinquallte-sols, r1 pluR16:c—irw—poileer. ASSIGNATS OF FRENCH REVOLUTION 50 sols (May 23, 1793) .50 5 livres (Nov. 30, 1793) .50 10 livres (Oct. 24, 1792) .50 250 livres (Sept. 28, 1793) large size $ 3.00 1000 francs (Jan. 7, 1795) large size, red print $ 6.00 (new and well marginated) 1st ROMAN REPUBLIC (1798 - 1799) Paoli 1 1/2 VG $10.00 Paoli 9 VG $10.00 Paoli 10 VG $10.00 (Some other Pontifical State currency available) ALFREDO P. MARCON Via dei Coronari, 112 ROMA-2, Italy BROKEN BANK • and other obsolete U. S. Currency available. I have a large stock on hand at all times and will be happy to add your name to my mailing list. • WHETHER BUYING OR SELLING Please Contact WARREN HENDERSON Obsolete Currency Specialist P. 0. BOX 1358, VENICE, FLA. 33595 THE RIVER lip ANK BOX 666 AGATE BEACH, OREGON 97320 We tried to run a mail bid sale last summer, and the results were most disap- pointing. It was, and is, our belief that a good mail bid sale would be a distinct benefit to the true collector. He can consign his duplicates, with a reserve bid, and in turn pick up that which will build up his own collection. We feel that this can be done for a fee of 15%. We will offer a list of at least 250 items within twenty days after the publica- tion of this quarterly. We will welcome hearing from any member who has any- thing to consign for this sale or the next. The sale list must be requested, as we cannot afford to mail to disinterested parties. We will welcome criticism regarding a sale of this kind. Our plan is to hold a quarterly sale following each issue of PAPER MONEY. May we count on your ideas and support? Sincerely, j. EDWARD WEAVER President The River Bank CURRENCY! UNITED STATES PAPER MONE Y (Large and Small) Also fractional, 1862 to date. New listing ready about middle November £7 good until December 28th, 1965. A ten cent stamp will help defray the mailing costs. Also I will be at the Great Eastern Numismatic Ass'n. show at Hotel Sheraton Park, Washington, D. C. with Unc. and choice large and small gold certificates, ten dollars to one thousand dollar bills; Silver Certificates, U. S. notes or legal tender notes, and uncut sheets. Costs you nothing to look. Thomas J. Settle, Box 1173, Church Street Station, New York, New York 10008. WANTED BROKEN BANK NOTES, STATE NOTES, SCRIPT, STORE CARDS AND TRADE TOKENS OF MISSISSIPPI Will buy, sell or trade. Have broken bank notes from most states. Also want Satirical Notes of the Green- back Labor Party. THOMAS J. SETTLE L. C. LEGGETTP. 0. BOX 2385 JACKSON, MISSISSIPPI 39205 BOX 1173 CHURCH STREET STATION NEW YORK, N. Y. 10008 SPMC 566 ANA R55354 WANTED FRACTIONAL CURRENCY SHIELDS Please describe shield, frame, and state price in first letter. Write to: Mike G. Brownlee 1416 COMMERCE STREET DALLAS, TEXAS. 75201 A.C. 214 - RI 2-2526 PAPER MONEY OBSOLETE NOTES—Singles and uncut sheets, "over 200 differ- ent uncut sheets in stock." Price list available. CONFEDERATE CURRENCY—price list by type number avail- able, FRACTIONAL AND CONTINENTAL NOTES UNITED STATES—LARGE AND SMALL CURRENCY FOREIGN NOTES—MILITARY CURRENCY We don't have everything but we have helped out many a collector and we are constantly buying any kind of paper money whenever offered at a reasonable price. We do have some price lists available free. Ask for them. we would appreciate your want list by variety, city, state or country or catalog number if listed so we can serve you better. We will then quote or send notes on approval. We keep you on file. we also do some business in land grants, documents, stock certificates, early checks, medals, politicals, stamped envelopes, Lincolnia, maps, early newspap- ers, Civil War historical material. Correspondence invited. AMERICANA GALLERY H. F. JENNE P. 0. BOX 4634, FORT LAUDERDALE, FLORIDA Phones Office 565-7354 Res. 52 2-3630 area code #305 WE BUY SELL AND TRADE OFFICE HOURS BY APPOINTMENT BUT P. S. Many other fractionals, colonials, and obsolete notes in stock. Frank F. SprinkleRICHARD T. HOOBER P. 0. Box 864, Bluefield, W. Va.P. 0. Box 196, Newfoundland, Penna. 18445. ,_=11dMi5=iVIA'11/411 , MIR ;0) U 47031313 A 4 -zzai = 71.5 CEPIMIC.4.10 TENOLP POP ALL otrsMiati NO PRIVATE NOTE MISMATCHED SERIAL NUMBERS CONDITION IS STRICTLY CRISP UNCIRCULATED. FRACTIONAL CURRENCY ALL NOTES ARE UNCIRCULATED OLD UNCUT SHEETS F. 1227 $20.00 Stonington Bank. Conn. 5-5-5-10 red over-print. Abt. F. 1230 8.25 Unc. $14.75 F. 1233 9.50 Stonington Bank. Conn. 5-5-10-20 Abt. Unc. City Bank of New Haven. Conn. 1-1-2-3 Abt. Unc. 17.50 22.75 F. 1239 18.00 City Bank of New Haven. Conn. 50-100-20-20 Abt. Unc.(actually this is 2 plates printed on one sheet.) .... 32.50 F. 1242 8.25 Territory of Florida. 1-2-3-5 Abt. Unc. P.O.R. F. 1244 6.75 Bank of Augusta. Georgia. 4-4-4-4 Abt. Unc. Bank of Augusta. Ga. 5-5-5-5 Abt. Unc. 24.75 14.25 F. 1246 9.00 Frankfort Bank. Ky. 10-5-5-5 A.0 Canal Bank. La. 10-10-10-10 A.U. (Bldg. in Center) 19.758.50 F. 1255 7.50 Boylston Nat. Bank. Boston, Mass. Sheet of 3 Checks. F. 1257 4.25 A.U. 188 Bank of Washtenaw. Michigan. 5-5-5-10 V.F 3.75 18.50 F. 1258 4.25 Bank of Michigan. 1-3 A.U. Dayton Bank. Minnesota. 1-1-2-5 A.0 14.75 39.50 F. 1261 5.00 Canal Bank. Albany, N. Y. Sheet of 3 Checks. 183- F. 1281 12.00 Good. Salem Glass Works. Salem, N. J. 3-50c 3-25c 3-10c 3.50 F. 1283 12.50 3-5c Sheet of 12 Notes. A.U. Summit County Bank. Ohio. 36-5e E.F 32.7539.50 F. 1284 12.50 Bank of Montgomery County. Norristown, Pa. Sheet F. 1287 X.F. 15.00 of 5 Checks. 183-A.0 Marietta, Pa. July 1837. 2-1-50c-25c-20c-10c A.U. 7.7529.50 F. 1294 F . 1295 11.75 12.00 Allentown, Pa. Sheet of 3 Checks. 185-A.0 New England Commercial Bank. Newport, R. I 1-1-2-3 A.0 4.75 13.50 F. 1303 8.50 State of S. C. 1-1-2-2 A.0 Commercial & Agricultural Bank of Texas. 1-1-1-1 12.75 F. 1307 F. 1309a A.U. 9.25 55.00 E.F Strip of 6 Coupons (PROOFS ON INDIA PAPER) of Morgan's Louisiana & Texas Rly Co. Punched but 43.50 F. 1312 18.00 perfect cond. Bank of Bennington. Vermont. 5-10-10-20 A.0 12.50 37.50 F. 1375 33.00 Hungarian Fund. 1-1-1 New York 1852 A.0 5.75 F. 1379 12.50 Mexico. Sheet of 5-5-5-5 fantastic colors. A.0 11.50 U. S. LARGE SIZE CURRENCY U. S. SMALL SIZE CURRENCY U. S. FRACTIONAL CURRENCY PAPER MONEY MAJOR ERROR LIST AVAILABLE STAMP PLEASE THEODORE KEMM 915 West End Avenue New York, N. Y. 10025 Can furnish consecutive numbers. Will trade for 28 uncirculated dollar bills any district. $1 1963 FRN plain or star many districts beginning 0000 also $1 1963A Fowler notes beginning 0000 from Richmond, Cleve- land, Philadelphia exchanged for other districts or will sell for $6 each. $10 1963 FRN Richmond District beginning 0000 $15 each. $20 1963 Richmond stars or 1963A plain Fowler notes $25 each. Will exchange Richmond notes for your district but write first. Free price list for stamp. Odd or low numbered notes wanted. JAMES W. SEVILLE BOX 866, STATESVILLE, N. C. Member Society Paper Money Collectors #630 Blue Ridge Numismatic Assn. Inc. #1384 American Numismatic Association R-53295 Reference-Northwestern Bank, Statesville Phone-Area Code 704 873-7462 Fractional Currency All notes fully guaranteed. I have listed them by both Friedberg and Rothert numbers for your convenience. 30 Fr # R# F 3.50 New 10.00 New 20.00 5¢ New 29.00 VF 8.50 New 29.00 AU 5.75 New 9.50 AU 19.50 New 36.50 Fi 3.75 New 11.00 New 11.00 New 11.75 New 36.50 XF 12.50 New 22.50 New 42.50 New 11.50 XF 8.50 New 19.00 100 New 29.00 AU 18.50 New 29.00 F $3, AU $6 New 9.50 VF 12.00 AU 25.00 New 7.00 F 2.75 New 8.50 New 8.50 New 13.00 VF 12.50 New 37.50 AU 15.00 New 22.50 New 32.50 New 35.00 New 55.00 XF 3.50 New 7.50 XF 4.50 New 11.00 New 4.50 XF 2.50 New 4.50 AU 4.75 New 8.50 New 4.75 New 7.50 XF 2.50 New 4.50 New 4.50 150 New 21.00 AU 16.00 New 20.00 AU 16.00 New 21.50 XF 16.00 New 21.50 1272 thru 1278 WANTED GRANT - SHERMAN NOTES 25c 279 9 New 35.00 280 10 VG 7.50 New 40.00 281 11 XF 7.00 New 12.50 282 12 XF 15.00 Ch. AU 33.50 283 27 VF 4.00 288 31 New 22.50 290 34 XF-AU $19 New 35.00 291 55 New 21.00 292 56 New 29.00 294 57 XF 5.00 New 11.50 295 58 New 13.50 296 58 New 13.50 297 59 F 12.50 VF $20 New 47.50 1298 60 New 72.50 1299 61 Vf-XF $225.00 Choice AU 325.00 1302 125 New 10.00 1307 128 New 10.00 1308 137 New 4.50 1309 138 New 4.50 500 310 13 New 44.50 312 15 VF 8.00 AU 14.50 New 22.50 313 16 VG-F 16.50 317 39 New 17.00 318 38 New 19.50 320 40 New 42.50 321 41 New 60.00 322 42 New 42.50 324 95 New 21.00 325 96 New 125.00 326 97 New 36. 00 328 99 New 25.00 329 100 New 40.00 331 102 New 14.50 332 103 New 62.50 333 104 New 17.50 334 105 New 22.50 335 106 New 17.50 337 108 AU 17.50 338 109 New 35.00 339 110 New 23.00 340 111 VG 8.00 VF 22.50 XF 28.50 Ch. AU 45.00 341 112 New 30.00 342 113 VG 5.50 AU 18.00 New 35.00 343 63 New 30.00 344 64 New 95.00 345 65 New 30.00 349 73 New 32.50 355 75 New 37.50 356 77 New 50.00 358 78 New 36.00 360 80 New 30.00 362 82 VF 8.00 New 23.00 363 83 Choice XF 45.00 364 84 AU 15.00 New 29.00 365 85 AU 22.50 New 35.00 370 90 New 95.00 375 130 XF 13.00 376 131 XF 6.50 New 12.00 379 133 New 13.00 380 139 New 11.00 381 139 New 9.00 NARROW FOOTING and WIDE MARGIN SPECIMEN notes in stock. Want Lists Soiicited. We want to BUY anything in this series. SINGLE RARITIES to COMPLETE COLLECTIONS SHEETS, SHIELDS, SPECIMENS, PROOFS etc. 1226 44 1227 43 1228 1 1229 2 1230 3 1231 4 1232 17 1233 18 1234 19 1235 20 1236 45 1237 46 1238 47 1239 48 240 5 241 6 242 7 243 8 244 21 245 22 246 23 247 24 249 26 251 49 252 50 253 51 254 52 255 53 256 54 257 114 258 115 259 116 261 118 264 134 265 135 266 136 1267 119 1268 120 1269 121 1271 123 THOMAS E. WERNER 505 No. WALNUT ST. WEST CHESTER, PA. 19380 ANS MANA SPMC 123CANA 2331 1 Bebee's, inc. "Pronto Service" pRGFESSIONk OMISMMIPS GU ILD ° INCA $1.00 SMALL NOTES - CRISP UNC. Truly the Nicest Notes obtainable - all Superb Centering. Also, those indicated with # which are not too well centered, but otherwise Choice Items. If you have not tried Bebee's for Notes and Service there's a Surprise in store for you. Don. # SILVER CERTIFICATES Fr. # Date,. Price RARE "R" Cr "S" NOTES FEDERAL RESERVE NOTES 1-201-1 1 600 9 1 2 8 $ 14.50 R201 1690 Red "R'' I 1963 Set (121 14.95 201-2 201-3 1601 1928A 7.00# 9.50 1602 1928B 9.00# 11.00 $201 1690 Red "S" 1 Pair $105.00 Same last 2 Nos. match 15.95 201-4 1603 1928C 275.00 201-5 1604 1928D 135.00# 160.00 WAR ISSUES 201-6 1605 1928E Wanted STAR NOTES 201-7 1606 1934 7.50# 10.00 A201 2306 Europe 12.50 201-8 201-9 1607 1935 12.50 1608 1935A 3.50# 5.00 H201 2300 Hawaii. $5.75# 6.75 1963 Set Stars ( 12 21.75 201-10 1609 1935B 11.00 Same-last 2 Nos. match. 201-11 1610 1935C 6.50 201-12W1613 1935D Wide reverse LEGAL - RED SEAL Very scarce thus 24.75 4.25# 5.50 101-1 1500 $22.50# 29.50 201-12N 1613 1935D narrow rev. 3.50# 4.50 Nos. under 5,000$ 29.50# 1963A SETS 201-13 201-14 1614 1935E 3.75 1619 1957 2.50 RARE MIS-MATCHED NOTES 1963A Set (12). Nice 14.95 201-15 201-16 1615 1935F 2.25# 3.50 1620 1957A 2.25 201-19 1957B U37/U47- Same last 2 Nos. match 15.95 201-17 1616 1935G no motto ... 3.00 Beautiful GEM Note 39.50 Order 1963A NOW we have all except 201-10 1617 1935(4 motto 3.25 201-19 1621 1957B 2.00 Plastic holder, Title 4.50 4 dists. and expect them by early Dec. 201-20 1618 1935H 2.00# 3.00 NUMISMATIC BOOKS "Confederate & Southern States Currency" (Brad- beer). Reprint of the enlarged and improved edition by the late Charles E. Green. Also, con- tains a "1965 PRICE LIST" with Cross-index to above Criswells "Confederate States Paper Money" (Slabaugh) 1.00 "Texas Confederate County Notes and Private Script" (Bieciuk & Corbin) 1.75 "U. S. Postage and Fractional Currency" (Christoph & Krause). Excellent Guide with enlarged photos. 40 pages, 81/2x11 15.00 "Guide Book of U. S. Fractional Currency" (Rothert) "Fractional Currency" (Merkin). Excellent Priced 3.95 Catalogue "Confederate & Southern States Bonds" (Criswell). Lists $10.00. Only 5.00 "Master List of Uncut Sheets of Obsolete Bills and Old Bank Notes" (Sprinkle). Most extensive listing of uncut sheets ever published 6.00 "A History and Check List of Wooden Money" (De Bella) 7.50 "World War II Military Currency" (Toy). New 1965 Edition 12.50 "Encyclopedia of World Paper Money" (Sten) 1.00 "A Guide Book of Philippine Paper Money" (Shafer) "Paper Money of Mexico" (Gaytan & Utberg). Out 8.95 of print RARE CURRENCY WANTED "Know your Paper Money - It Pays Rig Dividends". Your Name in Gold FREE, if desired. Please add tric under $5.00. "Paper Money of the United States" (Friedberg. 5th Edition) $12.50 "Donlon's Price Catalog United States Small Size Paper Money", New 2nd Ed. "A Guide Book of Modern United States Currency" (Shafer) "North American Currency" (Criswell). U. S., Canada, Mexico obsolete paper money. 912 pages, 2,997 illustrations, with prices "The Story of Paper Money" (Reinfeld). A "Terrific" Book "Catalogue of United States Currency" (Werlich). (The latest, 1965 edition by Quaker Pub. Co. 1963 ed. now $2.95) "Descriptive History of National Bank Notes 1863- 1935" (Dillistin). The splendid work by this late great scholar, now out of print "Depression Script of the United States" (Kappen & Mitchell) "State Bank Notes of Michigan" (Bowen). Out of print, while few last "Michigan Depression Script" (Curto). 34 pages "Confederate & Southern States Currency" (Criswell). 1st revised Ed. 5.95 1.00 2.95 1.00 1.00 2.00 7.50 2.00 2.00 2.00 5.00 2.00 9.50 Please describe accurately and price before sending. National Gold Bank Notes Gold Certificates-Large & Small Nationals 1st, 2nd, 3rd Charters Territorials (Arizona, Idaho, Nebr., Washington, Wyoming, others). Double Denom., other Rare Errors. $20 Demand Notes 1890 Coin Notes Unc. * 1886-1908 Silvers Unc. • 1862-1923 Legals Uric. * Items Unc. that List $60.00 up wanted. Immediate cash payment. Uncut Sheets Large Notes Uncut Sheets Small Notes Rare Small Notes Unc.- D,01-6, R201, H520-1, 2, A200-1, 102-2, 102-3, 105-6, 205-6, 210-4. 100% Satisfaction Always. Minimum Order $5.00 (except books). Add 50c under $10.00. TWO CREAT CATALOGUES: Part I. 108-page Supply Catalogue (Cver 300 Books and Everything in Numis-accessories)-$1.00. Part II. Terrific Offering in Coins and Paper Money. 84 pages.-$1.00. Both $2.00 1$1.00 is deductible on your first $25.00 order). 4514 North 30th Street Phone 402-451-4766 Omaha, Nebraska 68111 SMALL FEDERAL RESERVE NOTES From An Extensive Collection Now is the time to complete your Federal Reserve Series or type collection of small Federal Reserve Notes. This is probably the largest selection of small Federal Reserve Notes ever offered and it may never happen again soon. All notes are Crisp Uncirculated unless otherwise described. Donlon Numbers used on all notes. Boston Richmond Minneapolis 505-1A (#40 Ser. ) 1928 $65.00 505-2E 1928A $35.00 505-61L X.F. (L.G.) 1934 $25.00 505-3A V.F. 19288 20.00 505-11E 1950 13.00 505-111 1950 14.00 505-6AL ( L.G. ) 1934 35.00 505-12E 1950A 10.00 505-141 1950C 12.00 505-7A X.F. 1934A 15.00 510-2E 1928A 40.00 510-51L (L.G.) 1934 45.00 505-10A X.F. 1934D 10.00 510-13E 1950C 12.00 510-61 1934A 35.00 505-12A (Star Note) 1950A 15.00 520-1E V.F. 1928 40.00 510-141 1950 23.00 510-IA (#40 Ser.) 1928 75.00 520-6E 1934A 45.00 510-131 1950C 17.50 510-1A A.U. 1928 30.00 520-11 X.F. 1928 40.00 510-3A 510-5AL X.F. X.F. L.G.( n 1928 1934 25.00 25.00 Atlanta 520-51L520-51L (L.C. Star( 1934 1934 55.00 75.00 510-6A 1934A 27.50 505-1F 1928 40.00 510-7A X.F. 19348 20.00 505-3F 1928B 35.00 510-8A 510-9A 1934C 1934D 25.00 25.00 505-4F 505-5F X.F. Rare V.F. Rare 1928C 1928D 125.00 175.00 Kansas City 510-10A (Star Note ) 1950 25.00 505-6FL ( ) 1934 75.00 520-1A ( #30 Ser. ) 1928 90.00 505-6F 1934 35.00 505-11 ( #98 Ser.) 1928 55.00 520-5AL ( 1934 55.00 505-11F 1950 13.00 505-111 1950 13.00 505-14F (Star Note( 1950C 15.00 505-141 1950C 12.00 505-1F 1928 45.00 510-11 #666666 S. 1928 60.00 510-3F 1928B 35.00 520-51 1934 50.00 New York 510-6F 1934A 27.50 520-81 1934C 50.00 510-10F 1950 18.50 505-2B 1928A 30.00 520-1F (Star Note ) 1928 80.00 505-7B X .F. 1934A 12.50 520-2F A.U. 1928A 40.00 505-9B X .F. 1934C 15.00 Dallas 505-11B 505-12B 1950 1950A 10.00 10.00 Chicago 505-1K A.U. 1928 30.00 510-5BL 510-7B 510-8B 510-10B 510-12B 520-3B 520-6B 520-7B 505-1C 505-6CL 505-6C (L.G.) 1934 X .F. 1934B 1934C A .U. 1950 1950B 19288 1934A 1934B Philadelphia 1928 1934 1934 35.00 15.00 22.00 14.00 14.00 45.00 40.00 40.00 35.00 35.00 25.00 505-1G 505-2G 505-6GL 505-6G 505-7G 505-8G 505-9C 510-1G 510-2G 510-4G 510-5GL 510-6G 510-10G 520-IC 520-3G ( #105 Ser.) 1928 1928A (L.G.) 1934 1934 1934A 1934B I 934C 1928 1928A Rare 1928C ( L.G. ) 1934 1934A 1950 1928 1928B 50.00 25.00 45.00 26.00 20.00 22.50 17.50 40.00 35.00 75.00 35.00 25.00 17.00 55.00 45.00 505-6K 505-9K 505-10K 505-11K 505-12K 510-1K 510-5K 510-6K 510-10K 510-11K 510-13K 520-1K 520-2K 520-5K 520-8K 520-9K X.F. X.F. A.U. (Star Note) (Star Note) (Star Note) A.U. X.F. (Star Note 1934 1934C 1934D 1950 1950A 1928 1934 1934A 1950 1950A 1950C 1928 1928A 1934 1934C 1934D 27.50 17.50 20.00 15.00 15.00 32.00 33.00 22.50 30.00 25.00 20.00 45.00 35.00 50.00 60.00 45.00 505-10C 505-11C 1934D 1950 15.00 11.00 St. Louis 510-6C 510-10C (Star Note) 1934A 1950 30.00 25.00 505-3H505-6HL ( L.G. ) 19288 1934 35.00 65.00 San Francisco 505-6H 1934 32.50 505-1L ( #27 Ser. ) 1928 65.00 505-8H 19346 35.00 505-6LL X.F. L.G. / 1934 25.00 Cleveland 505-9H505-11H I 934C 1950 20.00 15.00 505-7L 505-11 L A.U. 1934A 1950 20.00 12.00 505-12H 1950A 12.50 505-121 1950A 12.00 505-1D 1928 35.00 510-6H X .F. 1934A 30.00 510-1L 1928 40.00 505-6D 1934 25.00 510-8H 1934C 30.00 510-5LL X.F. ( L.G.) 1934 25.00 505- 1 2D 1950A 10.00 510-10H 1950 27.50 510-6L 1934A 30.00 510-1D #2000 Ser. 1928 60.00 520-3 H I928B 55.00 520-1L 1928 60.00 510-2D 1928A 35.00 520-6H 1934A 42.50 520-5LL A.U. 1934 35.00 510-6D 1934A 27.50 520-8H 1934C 50.00 520-6L A.U. (Star) 1934A 45.00 (L.G.1 means Light Green Seal. Any notes not completely satisfactory may be returned available so the first checks will receive them. within three days for full refund. In most cases only one specimen is THOS. C. BAIN 3717 MARQUETTE DRIVE DALLAS, TEXAS 75225 DONLON CATALOG ENLARGED 2ND EDITION UNITED STATES SMALL SIZE PAPER MONEY FEATURING THE COPYRIGHTED DONLON SIMPLIFIED CODE NUMBERING now in almost universal use by publishers, dealers and collectors. The First Edition of the DONLON CATALOG published one year ago, proved to be the year's best numismatic seller. Largest printing of any one edition of any book ever published on United States Paper Money. The Second Edition of the LITTLE BOOK with the BIG IMPACT, shows many price changes, revisions, additional information, more illus- trations and NEW SECTION ON PRINTING ERRORS WITH VALUATIONS By AIM GREBINGER. Order today! $1.10 one book, prepaid. $2.10 two books, or $3.10 for three books. Dealers don't delay. Send me your orders today. Usual quantity discounts. Prompt delivery. This book will outsell First Edition. Also available, single or in quantity: "MODERN SIZE U. S. CURRENCY" By NEIL SHAFER and Wm. P. DONLON, $1.75 prepaid. Send $2.50 for both of the above books if ordered at one time. WANT LISTS SOLICITED FOR LARGE, SMALL OR FRACTIONAL UNITED STATES CURRENCY. IF YOU HAVE NICE CURRENCY TO SELL, PLEASE QUOTE PRICE IN FIRST LETTER. STAMPED RETURN ENVELOPE WITH INQUIRIES PLEASE. pROFESSIOw NuM I SMRTISIs ILD-IN r WILLIAM P. DONLON United States Currency Exclusively and Full Time! S.P.M.C. No. 74 A.N.A. No. 4295 Life Member No. 101 P. 0. BOX 144 UTICA, NEW YORK, 13503 Phone 315-735-2525.