official journal of The Society of Paper Money Collectors Philippine Treasury Certificates of 1941 America’s Oldest and Most Accomplished Rare Coin Auctioneer 1550 Scenic Avenue, Suite 150, Costa Mesa, CA 92626 • 800.458.4646 • 949.253.0916 470 Park Avenue, New York, NY 10022 • 800.566.2580 • 212.582.2580 1735 Market Street, Suite 130, Philadelphia, PA 19103 • 800.840.1913 • Philly@StacksBowers.com Info@StacksBowers.com • StacksBowers.com California • New York • Philadelphia • Boston • New Hampshire • Oklahoma • Hong Kong • Paris SBG PM Winter2022HLs 221101 Stack’s Bowers Galleries Featured Highlights From the Winter 2022 Showcase Auction November 3, 2022 • Costa Mesa, CA LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM Contact us about including your currency in our Spring 2022 Showcase Auction! West Coast: 800.458.4646 • East Coast: 800.566.2580 • Consign@StacksBowers.com Fr. 16. 1862 $1 Legal Tender Note. PMG Choice Fine 15. Mismatched Serial Number Error. Fr. 334. 1891 $50 Silver Certificate. PMG Gem Uncirculated 65 EPQ. Fr. 1133-J. 1918 $1000 Federal Reserve Note. Kansas City. PMG Very Fine 25. Fr. 1800-2. Ashland, Virginia. $5 1929 Ty. 2. The First NB. PMG Very Fine 20. Mismatched Charter Number. Fr. 64. 1869 $5 Legal Tender Note. PCGS Banknote Gem Uncirculated 66 PPQ. Fr. 587. San Diego, California. $5 1902 Red Seal. The American NB. Charter #7418. PMG Choice Very Fine 35 EPQ. Fr. 1167. 1907 $10 Gold Certificate. PMG Choice Uncirculated 64 EPQ. Fr. 1801-2. Tigerton, Wisconsin. $10 1929 Ty. 2. First NB. PCGS Currency Fine 15. Mismatched Charter Number at Right Serial Number. Fr. 329. 1880 $50 Silver Certificate. PCGS Banknote Choice Very Fine 35. Fr. 587. San Francisco, California. $5 1902 Red Seal. The United States NB. Charter #7691. PMG Choice Fine 15. Fr. 1200. 1922 $50 Gold Certificate. PCGS Banknote Gem Uncirculated 66 PPQ. Fr. 2210-G. 1928 $1000 Federal Reserve Note. Chicago. PCGS Banknote Gem Uncirculated 66 PPQ. 394 Philippine Treasury Certificates of 1941--Daniel McKone Reuse of Bank Titles by the Same Bank--Peter Huntoon Bank of the U.S. 1833 Sight Draft--Bill Gunther Uncut Sheets Through 1953--Peter Huntoon South Carolina's Most Wanted--Tony Chibbaro 410 388 403 406 419 A Brief Update on T-64 Notes--Steve Feller 422 The Reapers Vignette--Roland Rollins 432 Color Variations of 25cent Fractionals--Rick Melamed SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 381 Columns Advertisers SPMC Hall of Fame The SPMC Hall of Fame recognizes and honors those individuals who have made a lasting contribution to the society over the span of many years.  Charles Affleck Walter Allan Doug Ball Hank Bieciuk Joseph Boling F.C.C. Boyd Michael Crabb Forrest Daniel Martin Delger William Donlon Roger Durand C. John Ferreri Milt Friedberg Robert Friedberg Len Glazer Nathan Gold Nathan Goldstein James Haxby John Herzog Gene Hessler John Hickman William Higgins Ruth Hill Peter Huntoon Don Kelly Lyn Knight Chet Krause Allen Mincho Clifford Mishler Judith Murphy Dean Oakes Chuck O’Donnell Roy Pennell Albert Pick Fred Reed Matt Rothert Herb & Martha Schingoethe Hugh Shull Glenn Smedley Raphael Thian Daniel Valentine Louis Van Belkum George Wait D.C. Wismer From Your President Editor Sez New Members Uncoupled Obsolete Corner Chump Change Quartermaster Cherry Picker Corner Small Notes Robert Vandevender 383 Benny Bolin 384 Frank Clark 385 Joe Boling & Fred Schwan 434 Robert Gill 438 Loren Gatch 440 Michael McNeil 444 Robert Calderman 446 Jamie Yakes 448 Stacks Bowers Galleries IFC Pierre Fricke 381 PCGS-C 402 Lyn Knight 409 Higgins Museum 419 Bob Laub 419 Whitman Publishing 431 Evangelisti 439 FCCB 437 ANA 454 Tom Denly 456 Fred Bart 456 Tony Chibbaro 456 DBR Currency 456 PCDA IBC Heritage Auctions OBC Fred Schwan Neil Shafer SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 382 Officers & Appointees ELECTED OFFICERS PRESIDENT rvpaperman@aol.com VICE-PRES/SEC'Y Robert Calderman gacoins@earthlink.net TREASURER Robert Moon robertmoon@aol.com BOARD OF GOVERNORS Mark Anderson mbamba@aol.com Robert Calderman gacoins@earthlink.net Gary Dobbins g.dobbins@sbcglobal.net Matt Draiss stockpicker12@aol.com Mark Drengson markd@step1software.com Pierre Fricke aaaaaaaaaaaapierrefricke@buyvintagemoney.com Loren Gatch lgatch@uco.edu William Litt Billlitt@aol.com J. Fred Maples Cody Regennitter cody.regennitter@gmail.com Wendell Wolka APPOINTEES PUBLISHER-E Benny Bolin smcbb@sbcglobal.net ADVERTISING MANAGER Wendell Wolka purduenut@aol.com LEGAL COUNSEL Megan Reginnitter mreginnitter@iowafirm.com LIBRAIAN Jeff Brueggema MEMBERSHIP DIRECTOR Frank Clark frank_clark@yahoo.com IMMEDIATE PAST PRESIDENT Shawn Hewitt WISMER BOOk PROJECT COORDINATOR Pierre Fricke From Your President Robert Vandevender IIFrom Your President Shawn Hewitt Paper Money * July/August 2020 6 maplesf@comcast.net purduenut@aol.com n jeff@actioncurrency.com Robert Vandevender II A lot has happened in the world since our last issue of Paper Money magazine. I am sad to report the passing of our Past President, Larry D. Adams, who died in Granger, IA in October as the result of an automobile accident. Larry was the curator of the Higgins Museum of National Bank Notes. Larry collected business cards and did investigative work. He and I had a very nice conversation earlier this year. Our thoughts go out to his family. Although expected, the passing of Queen Elizabeth II was sad for many people. I watched several parts of the service and as usual, the British people did a great job with the performance. The redesign of their currency and coins was being planned. I was surprised to learn that the way the portrait face changes from the King or Queen facing left or right during each new reign. Therefore, we can expect the portrait of King Charles III to face toward the left on the new coins although I am not sure that same custom exists for currency since many banknotes show the Queen facing straight or to the left. On Jul 8, 1976, from the windows at the top of the Statue of Liberty, I saw Queen Elizabeth II and Prince Philip arriving in New York harbor on the Royal Yacht Britannia. We were delayed leaving Liberty Island until she had disembarked in New York. The Queen came for her second visit to NYC to collect the rent due her from the Trinity Church at Broadway and Wall Street. 279 peppercorns in a Steuben glass container were given to her for the 1 peppercorn per year rent from the agreement made with her ancestor King William III. Speaking of redesigned currency, with the September signing of Chief Lynn Malerba as the new United States Treasurer, we too can expect new currency soon with an updated signature. Hurricane Ian was certainly a big event for many of us. Fortunately, our home in Florida was not affected by the hurricane but many of my friends and family cannot say the same. I thought it was nice that Paper Money Guarantee (PMG) located in Sarasota provided hurricane updates on their website since many of their customers, including me, were concerned about their preparation and the protection of the no-doubt millions of dollars’ worth of items previously submitted for grading. Fortunately, all turned out well for PMG although not so well for many of their close neighbors to the South. As some of you may be aware, In September we rolled out the SPMC Paper Money Articles Index. The index provides online links to all 2500+ articles that have appeared in the Paper Money Journal since the first issue in 1962. However, one must be a member of the SPMC to access articles printed in the last five years. If you haven't seen it yet, please log onto the SPMC.org site and check it out. Earlier this year, I was able to reacquire a black Fractional Currency Shield I once owned. I originally purchased the shield in 1992 from a dealer in West Chester, PA and am excited to own it again. After picking up the shield, I had it reframed (keeping the old original frame) with new acid-free backing and museum quality UV glass. When I opened up the frame for the work to be done, it was the first time I had ever had the opportunity to hold an unframed shield. Planning for the January FUN show continues. The breakfast on Saturday morning at the show is ready to go but we will only have seating for 60 this year so if you want a ticket, buy it early at our website! Check the FUN schedule for more information about scheduled events including our membership meeting. I hope to see you there. 383 Terms and Conditions  The Society  of  Paper Money  Collectors  (SPMC)  P.O.   Box 7055,  Gainesville, GA    30504, publishes    PAPER    MONEY (USPS   00‐ 3162)  every  other  month  beginning  in  January.  Periodical  postage  is  paid  at  Hanover,  PA.  Postmaster  send  address  changes  to  Secretary  Robert  Calderman,  Box  7055, Gainesville,  GA  30504. ©Society  of  Paper Money  Collectors, Inc.  2020.  All  rights  reserved.  Reproduction  of  any  article  in whole  or  part  without written approval  is prohibited.  Individual copies of  this  issue of PAPER MONEY are available  from the secretary  for $8  postpaid. Send changes of address, inquiries concerning    non    ‐    delivery    and    requests    for    additional copies of this issue to  the secretary.  MANUSCRIPTS  Manuscripts     not     under      consideration      elsewhere and  publications  for  review should be sent  to  the editor. Accepted  manuscripts  will  be  published  as  soon  as  possible,  however  publication  in  a  specific  issue  cannot  be guaranteed. Opinions  expressed  by  authors  do  not necessarily  reflect those  of  the  SPMC.   Manuscripts should be  submitted  in WORD  format  via  email (smcbb@sbcglobal.net)  or  by  sending memory stick/disk  to  the  editor.  Scans  should  be  grayscale  or  color  JPEGs  at  300 dpi. Color  illustrations may be changed to grayscale at  the  discretion  of  the  editor.  Do  not  send  items  of  value.  Manuscripts are  submitted with copyright release of the author  to  the  editor  for  duplication  and  printing as needed.  ADVERTISING  All advertising on space available basis. Copy/correspondence  should be sent to editor.  All advertising is pay in advance.  Ads are on a “good faith”  basis.  Terms are “Until Forbid.”  Ads  are  Run  of  Press  (ROP)  unless  accepted  on  a  premium  contract basis. Limited premium space/rates available.  To keep rates to a minimum, all advertising must be prepaid  according to the schedule below.  In exceptional cases where  special  artwork  or  additional  production  is  required,  the  advertiser  will be notified  and  billed accordingly.  Rates  are  not commissionable; proofs are not  supplied.  SPMC  does not  endorse any company, dealer,  or  auction  house.  Advertising  Deadline: Subject to space availability, copy must be received  by  the  editor  no  later  than  the  first  day  of  the  month  preceding  the  cover date  of  the  issue  (i.e.  Feb.  1  for  the  March/April  issue). Camera‐ready art or electronic ads  in pdf  format are required.  ADVERTISING RATES  Editor Sez Benny Bolin Required file    submission format    is    composite    PDF v1.3  (Acrobat 4.0   compatible).   If   possible, submitted files should  conform to ISO 15930‐1: 2001 PDF/X‐1a file format standard.  Non‐  standard,  application,  or  native  file  formats  are  not  acceptable. Page  size: must  conform to specified publication  trim  size.  Page  bleed:  must  extend minimum  1/8”  beyond  trim for page head, foot, and front.  Safety margin:  type  and  other  non‐bleed  content must  clear  trim by minimum 1/2”.   Advertising c o p y   shall be restricted to paper currency, allied  numismatic material, publications,   and   related   accessories.    The SPMC  does  not  guarantee advertisements,  but  accepts  copy  in good faith,  reserving  the right  to  reject objectionable  or  inappropriate  material  or  edit      copy.  The          SPMC   assumes      no      financial       responsibility for  typographical  errors  in  ads  but  agrees  to  reprint  that portion of an ad  in  which a typographical error occurs.  Benny Space  Full color covers  1 Time  $1500  3 Times  $2600  6 Times $4900 B&W covers  500  1400  2500 Full page color  500  1500  3000 Full page B&W  360  1000  1800 Half‐page B&W  180  500  900 Quarter‐page B&W  90  250  450 Eighth‐page B&W  45  125  225 Hello to the holiday season. Hope this finds all well. While I am writing this, about 2 weeks before you read it, I am celebrating my 66th birthday during a glorious week off from school for a fall break. But, not much of a holiday for me as my wife had a knee replacement done the Friday before and guess what I am doing? Yes, playing nurse. Oh well, what can you do but care for the woman who has stayed by you for the last 40 yrs! First and foremost, I want to say that on behalf of the society, we hope that all who suffered through the hurricane made it throught safely. I have not witnessed that much destruction in a long time. For those land-locked in the center of the earth-- middle Texas, we have to deal with an occasional tornado, but nothing as devastating as Ian. Our collective hopes and prayers are extended to you all. Also, we had a bit of unfortunate news in that past-president and 55 year society member, Larry Adams was tragically taken from us this past week. Although I don't think I ever had the pleasure to meet Mr. Adams, he was a true hobby and society stalwart. A brief bio is remembers his deeds in a few pages. And now to the good news. For the second time in the past three years Paper Money was named the winner of the Numismatic Literary Guild's award--Best Not-for-Profit periodical, small circulation. This is a great accomplishement and a true reflection on our authors, columnists and advertisers. All of our articles are original research works of true love. I want to give a BIG shout-out to all of them! Job Well Done! We had a good turnout of voters for our annual literary awards and these will be presented along with our service awards at winter FUN. Come join us. We are trying to put on some similance of the old by having the annual SPMC breakfast and Tom Bain raffle on Saturday of the show. Due to uncertainty as to the popularity and attendance, we have a 60 person limit for these two fine and fun programs. Tickets can be purchased on the societies website, www.spmc.org. We will also be having a general membership meeting and are working on some paper related presentations. Come by our club table and say hi! I hope you all have a good holiday season and remember that too much turkey--trypofan! Snooze away but don't miss all the fun at FUN '23! 384 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The Annual Meeting of the SPMC is held in June at the International Paper Money Show. Information about the SPMC, including the by-laws and activities can be found at our website-- www.spmc.org. The SPMC does not does not endorse any dealer, company or auction house. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 17 years of age and of good moral character. A parent or guardian must sign their application. Junior membership numbers will be preceded by the letter “j” which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $39. Dues for members in Canada and Mexico are $45. Dues for members in all other countries are $60. Life membership—payable in installments within one year is $800 for U.S.; $900 for Canada and Mexico and $1000 for all other countries. The Society no longer issues annual membership cards but paid up members may request one from the membership director with an SASE. Memberships for all members who joined the Society prior to January 2010 are on a calendar year basis with renewals due each December. Memberships for those who joined since January 2010 are on an annual basis beginning and ending the month joined. All renewals are due before the expiration date, which can be found on the label of Paper Money. Renewals may be done via the Society website www.spmc.org or by check/money order sent to the secretary. WELCOME TO OUR NEW MEMBERS! BY FRANK CLARK SPMC MEMBERSHIP DIRECTOR NEW MEMBERS 09/05/2022 NEW MEMBERS 10/05/2022 Dues Remittal Process Send dues directly to Robert Moon SPMC Treasurer 104 Chipping Ct Greenwood, SC 29649 Refer to your mailing label for when your dues are due. You may also pay your dues online at www.spmc.org. 15471 Steve Monosson, Website 15472 Bryan Harrison, Don Kelly 15473 Gregory Lundberg, Arri Jacob 15474 Sherman Nassif, Website 15475 William George, Website 15476 David Burton, Adam Fisher 15477 Mike Marchese, Rbt Calderman 15478 John Bouldin, Website 15479 Michael Shurley, Rbt Calderman 15480 Mark Davis, Bob Moon 15481 Jan Gray, Website 15482 Charles Meadows, Website 15483 Ivan Rakyta, Website REINSTATEMENTS None LIFE MEMBERSHIPS None 15484 Chad Greenbach, Website 15485 Kenneth Fritsch, Robert Calderman 15486 William Baeder, Website 15487 Elliot Krieter, Mark Anderson/ Robert Moon 15488 Kevin Fink, Website 15489 Charles Kennedy, Website 15490 Joe Messervy, Robert Calderman 15491 Alan King, Robert Calderman 15492 Heinz Strahl, Robert Calderman REINSTATEMENTS None LIFE MEMBERSHIPS 0462 Robert Dalessandro, Pierre Fricke 0463 Michael D. Snyder, formerly 12156 SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 385 SPMC Festivities at FUN Make Plans Now to Attend! Our IPMS Activities of the past are now starting back up at WINTER FUN!!! Thursday, Jan 5th we will have a general membership meeting— see FUN schedule for location Friday, Jan 6th, we will have a BOG meeting. Saturday, Jan 7th will be our fun activities in the Convention Center—N330AB.  8a--we will have our Breakfast and Tom Bain Raffle with our Master of Ceremonies—Wendell Wolka.  At this time we will also present our literary and other awards and announce our 2022 Hall of Fame class. As always, our raffle will have BIG prizes, surprises, mystery boxes and a very special GRAND PRIZE we will “Mix ‘em Up!” Price of entry includes a newly designed & collectible breakfast ticket. Watch the website on ticket ordering information. We will be finished by 10a so all can go to the bourse. We also encourage all to place a Paper Money (or related) exhibit. As always, we are soliciting raffle prizes. If you have something to donate, contact me at smcbb@sbcglobal.net and I will arrange how to get it to us. Remember, these are tax deductible. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 386 Introducing the SPMC Paper Money Articles Index and the Collecting Paper Money website SPMC is proud to announce the online availability of the SPMC Paper Money Articles Index. This index provides links to all 2500+ articles that have appeared in the Paper Money Journal since the first issue in 1962. Each article is a searchable pdf document that can be easily viewed and downloaded. If an article was published in the last five years, SPMC membership login is required to view the article. All other articles are publicly available. New articles will be added to the index as each new (bi-monthly) issue of the SPMC Paper Money Journal is published. The SPMC Paper Money Articles Index home page has links to index pages for each of the 16 article categories (Nationals, Obsoletes, Large Size Type, etc). Below is a direct link to the Index home page. A link to this Index is also included on the SPMC.org home page and the Journals page. https://content.spmc.org/wiki/SPMC_Paper_Money_Articles_Index Series 1896 $1 Educational Silver Certificate 'History Instructing Youth'. SPMC is also proud to announce the online availability of the Collecting Paper Money website. A primary purpose of this public website is to introduce new collectors to the fascinating world of collecting paper money. Another purpose is to provide a resource for existing collectors to learn more about their collecting specialty(s), and also learn more about other collecting areas they may be interested in pursuing. The website is organized into collecting categories (Nationals, Confederate, Small Size Type, etc), and a Getting Started section is provided for new collectors. This is an ongoing work in progress and will be updated as new information becomes available. This website is sponsored by the Society of Paper Money Collectors (SPMC.org) as part of its educational mission to promote the study and appreciation of paper money and related financial history. Below is a direct link to the Collecting Paper Money website. A link to this website is also included on the SPMC.org home page. https://collectingpapermoney.spmc.org SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 387 Fateful Series: The Philippine Treasury Certificates of 1941 by Daniel McKone Introduction Currencies, throughout history, have helped finance wars. They have also, often, been greatly affected by these wars, including World War Two [WWII] (Schwan & Boling, 1995). The Series of 1941 Treasury Certificates, printed by the United States [US] Bureau of Engraving and Printing [BEP] for the Commonwealth of the Philippines, were no exception. This series was only partially issued and delivered due to the coming of WWII to the Philippines on December 8, 1941. Some of the certificates not delivered to the Philippines were later used for two special issues requested by the US War and Navy Departments (Shafer, 1964; Treasury Department, 1964). The remaining certificates survived the war while stored at the BEP. However, these certificates were, ultimately, destroyed in 1949 (NARA, 1949). Series of 1941 Treasury Certificates issued and delivered before WWII Starting with the Series of 1918, the BEP had issued and delivered Treasury Certificates to the Philippines in denominations of 1, 2, 5, 10, 20, 50, 100 and 500 Pesos, However, no certificates above 20 Pesos denomination for the Series of 1941 were delivered to the Philippines. Additional certificates of unknown denominations of this series were shipped to the Philippines in November 1941 but were still en route when war broke out. This shipment was initially diverted to Australia and then returned to the BEP in April 1942 (Shafer, 1964; Treasury Department, 1964). It is likely that some of the certificates that were successfully delivered to the Philippines before the war were destroyed on Corregidor in 1942, prior to its surrender. However, the number of 1941 certificates lost was likely small compared to the large quantities of 50-, 100- and 500-Pesos Series of 1936 Treasury Certificates destroyed there (NARA, 1941-47). Treasury Certificates issued and delivered to the Philippines: Denomination Serial Numbers Inclusive Dates of Shipment 1 Peso E1E-E6000000E July 28 and October 13, 1941 2 Pesos E1E-E2870000E September 15 and 29, 1941 5 Pesos E1E-E1188000E September 9 and 15, 1941 10 Pesos E1E-E800000E August 18, 1941 20 Pesos E1E-E284000E September 2, 1941 (Shafer, 1964, pp. 60-73) Figure 1 Series of 1941 Treasury Certificate 20 Pesos Series of 1941 Treasury Certificates processed in 1943 for the US War Department In January 1943, the US War Department requested Philippine currency that could be supplied to guerrillas fighting the Japanese forces then occupying the Philippines. These certificates would need to be in a circulated condition in order to avoid unwanted attention from the occupation forces. Though the BEP typically aimed to issue only flawless banknotes, in this case it made an exception. In cooperation with the US Bureau of Standards [BOS], and using existing stocks of finished Series of 1941 1, 5 and 10 Pesos, the BEP secretly worked to provide “aged” certificates (Shafer, 1964; Treasury Department, 1964, p. 148). The aging process involved placing the certificates in large rotating drums and mixing in “sand, floor sweepings, and soggy, used coffee grounds” SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 388 (Treasury Department, 1964, p. 148). It is possible that 2 Pesos certificates were not used because they had all been delivered to the Philippines prior to start of the war (NARA, 1949). War Department BOS processed Treasury Certificates: Denomination Serial Numbers Inclusive Dates of Shipment 1 Peso E6008001E-E6056000E February 2 and 8, 1943 1 Peso E6064001E-E6072000E 1 Peso E6008001E-E6324000E 5 Pesos E1208001E-E1328000E February 2 and September 24, 1943 10 Pesos E810001E-E870000E February 2 and September 24, 1943 (Shafer, 1964, pp. 60-71) Notes: 1. The gaps in the 1 Peso serial numbers above is due to certificates that were damaged while being processed by the BOS in 1943 and that were, subsequently, not issued. These damaged certificates were later destroyed in 1949 by the BEP (NARA, 1949; Shafer, 1964). 2. The author knows of the following serial numbers for the few BOS processed 5- and 10-Pesos certificates that exist today [BOS processed 1 Peso certificates are still frequently seen]: 5 Pesos: E1216057E, E1297148E, E1218477E and E1242993E 10 Pesos: E847097E, E859306E, E818572, E859776E and E813843E (Author, personal observation, 2022) Figure 2. Series of 1941 (1943 issue) Treasury Certificates BOS Processed 1 and 5 Pesos Series of 1941 Treasury Certificates Naval Aviators’ Emergency Money Packets In August 1944, the Navy Department requested Philippine currency that could be supplied to the 35 US aircraft carriers operating in the Pacific Theater at that time. These certificates were to be provided to aircrews operating in vicinity of the Philippines (Treasury Department, 1964). The 5,000 sealed, watertight, Aviators’ Emergency Money Packets each consisted of 40 x 1 Peso, 4 x 5 Pesos and 4 x 10 Pesos certificates for a total of 100 Pesos (Shafer, 1964; Treasury Department, 1964). Again, existing stocks of finished Series of 1941 1, 5 and 10 Pesos were used, though this time they were issued as is. As with the BOS processed certificates, this operation was carried out in secret and no 2 Pesos certificates were issued (Treasury Department, 1964). SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 389 Naval Department Aviators’ Emergency Treasury Certificates: Denomination Serial Numbers Inclusive Dates of Shipment 1 Peso E6324001E-E6524000E October 4, 1944 5 Pesos E1328001E-E1348000E October 4, 1944 10 Pesos E870001E-E890000E October 4, 1944 (Shafer, 1964, pp. 60-71) Figure 3. Series of 1941 (1944 issue) Treasury Certificates Naval Aviators’ 1, 5 and 10 Pesos Series of 1941 Treasury Certificates Destroyed at the BEP in August 1949 On July 5, 1949, almost four years after the end of WWII and almost exactly three years to the day since the establishment of the independent Republic of the Philippines, the US Treasury issued a memorandum signed by Acting Treasury Secretary Edward H. Foley, Jr. titled ‘Special Procedure for the Destruction of Obsolete Philippine Treasury Certificates, Series of 1941.’ This memorandum established procedures for, and called for a committee to oversee, the destruction of 4,342,000 remaining Treasury Certificates worth “$64,980,000” [Pesos, not US Dollars], as soon as possible (NARA, 1949). All banknotes were “paper strapped in units of 100 and made up in packages of 40 straps or 4,000 certificates which are steel-banded but unwrapped. The packages are packed in wooden boxes with 10 packages to a box” (NARA 1949). There were also 24,000 unpackaged 1 Peso notes that were “mutilated or spoiled,” which were left over from the 1943 BOS processing (NARA, 1949). These notes were incinerated on August 4 and 5 at the BEP in Washington, D.C. A U.S. Treasury memorandum dated August 18, 1949, and signed by four destruction committee members, reported that the three representatives of the Republic of the Philippines Embassy, who were present during the entire destruction process, “expressed satisfaction with the way the committee dispatched its assignment” (NARA, 1949). The BEP retained one sheet SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 390 (5 subjects) each of the 1 through 500 Pesos denominations for the “Orders Division to be used for specimen purposes” (NARA, 1949). See Figures 4, 5 and 6 below. Series of 1941 Treasury Certificates Destroyed at the BEP: Denomination Serial Numbers 1 Peso Not listed; only quantity of 24,000 shown 1 Peso E6524001E-E8180000E 5 Pesos E1348001E-E2388000E 10 Pesos E890001E-E1760000E 20 Pesos E284001E-E684000E 50 Pesos E1E-E196000E 100 Pesos E1E-E116000E 500 Pesos E1E-E40000E (NARA, 1949) Notes: 1. 1 Peso certificates 24,000 count: These are the certificates that were damaged while being unsuccessfully processed by the BOS processing in 1943; serial numbers: E6000001E-E6008000E, E6056001E-E6064000E and E6072001E-E6080000E. (NARA, 1949; Shafer, 1964) 2. The documents in NARA (1949) do not explain the rational for destroying these certificates, or the timing of their destruction. It was likely due to a number of reasons, including the fact that the newly established Central Bank of the Philippines [CBP] was already issuing banknotes by 1949, using a CBP overprint on the back of all denominations of the ‘Victory’ Series No. 66 (1944) Philippine Treasury Certificates. The certificates in this series had been printed in very large numbers, so there was probably an adequate supply for the CBP’s needs at the time and near future. In fact, the BEP had printed 130,600,000 Series No. 66 certificates (Long, 1945, p. 4). Also, though pre-WWII Philippine Treasury Certificates were no longer legal tender in the Republic of the Philippines by 1949, they could still be redeemed at the CBP (Shafer, 1964). Figure 4. Philippine Treasury Certificates, Series 1941, 5 Subjects, Inventoried and Destroyed By Special Committee Appointed July 27, 1949 (NARA, 1949) SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 391 Figure 5. Series of 1941 Treasury Certificate Specimens 50, 100 and 500 Pesos Source: National Numismatic Collection, National Museum of American History, Smithsonian Institution Figure 6. Series of 1941 Treasury Certificate Printer’s Proof 100 Pesos Source: National Numismatic Collection, National Museum of American History, Smithsonian Institution SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 392 Figure 7. Series of 1941 Treasury Certificate 2 Pesos Conclusion Of all the Series of 1941 Treasury Certificates, it appears that only the 2 Pesos certificate denomination (see Figure 7 above) was fully issued and delivered to the Philippines. Some of the originally undelivered 1-, 5- and 10-Pesos certificates got a new lease on life due to the War and Naval Departments’ special requests. Large numbers of 1-, 5-, 10- and 20-Pesos certificates, however, were destroyed in the end, despite having survived the war in the safety of the BEP. The 50-, 100- and 500-Pesos certificates, having never been successfully delivered to the Philippines, were almost all turned to ash. Today, only a few specimens and printer’s proofs remain of these higher denominations to remind us that they ever existed at all. It truly was a fateful series. Sources:  Long, C. R. (1945). Annual Report of the Director: Bureau of Engraving and Printing-Fiscal Year Ended June 30, 1945. Washington, D.C.: Bureau of Engraving and Printing. 107 pp.  Schwan, C. Frederick and Boling, Joseph E. (1995). World War II Remembered: history in your hands, a numismatic study. Port Clinton: BNR Press. 864 pp.  Shafer, Neil. (1964). A Guidebook of Philippine Paper Money. Racine: Whitman Publishing Company. 128 pp.  Treasury Department (1964). History of the Bureau of Engraving and Printing: 1862-1962. Washington, D.C.: Government Printing Office. 199 pp.  US National Archives [NARA] RG 126 (1941-1947): Records of the Office of the Territories ‘A-F’ Box No. 1; Records of the High Commissioner to the Philippine Islands: Records Relating to Currency, Securities and Valuables after the Japanese Invasion, 1941-1947, Documents Received from U.S. High Commissioner ‘M’ Box No. 8; ‘N-R’ Box No. 9; ‘S-U’ Box No. 10; Currency, Phil Box No. 12.  US National Archives: Public Debt File Box 9 K-422.1 Destruction of Philippine Treasury Certificates Series 1941 [at the BEP in 1949] (1949). _____________________________________________________________________________________ Unless noted, photos are from the author. Acknowledgements: Thanks go out to Ms. Jennifer Gloede of the Smithsonian National Numismatic Collection for locating and then providing a photo of the 1941 specimens. Also, a special thanks to PMG Paper Money Forum member ‘Jamericon’ for providing me with the NARA 1949 BEP destruction documents. Finally, a very special thanks to Mr. Neil Shafer for his many years of hard work on this topic and many other areas of numismatics. Assistance with serial numbers for existing BOS processed 5- and 10-Pesos certificates was kindly provided by Mr. Hero Hodel, Lyn Knight Auctions and Legacy Currency Grading. The author can be reached at dmanko777@gmail.com SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 393 Reuse of Bank Titles by the same National Bank Purpose The officers in a number of banks reused exactly the same title twice during the note-issuing era. In order to accomplish this feat, they used three or more titles, reverting to the use of one a second time after trying one or more intermediates. Others bankers adopted virtually identical replicas, save only for a cosmetic dropping of the article The, tweaking or dropping the linking preposition of or in, or both. The purpose of this article is to list all the banks that reused titles and explain why tweaked titles were used for others. Very interesting varieties were forthcoming as a result. We’ll begin with the duplicated titles. Recycled Bank Titles The formal definition of a bank title is the name of the bank and town, but not the state. Banks that employed three or more titles on their notes and used one of the titles a second time are listed on Table 1. Figure 1. These are the three A- position $10 proofs lifted from the three 10-10-10-10 plates made for this Buffalo bank, which used its first title a second time. All the plate layout conventions converged to allow every detail on the first and third plates to be identical right down to the plate letters, Treasury signatures, plate dates and security clauses. In this case, the plates with the same title were used to print blue seal plain backs. Owing to the timing of their use, the number 1 sheet from the first had Treasury sheet serial numbers and a regional letter whereas the number 1 from the third utilized duplicate bank serials and no regional letter. National Numismatic Collection, Smithsonian Institution, photos. The Paper Column Peter Huntoon SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 394 Most of these cases involved mergers where an intermediate title was adopted that incorporated part of the name from both merging banks. Later, the title was simplified to the original used by the surviving bank. In other cases, the bankers got into, and later out of, the trust business so their beginning and ending titles were the same. The handling of plates for the banks listed on Table 1 was interesting. Once a title was abandoned, the plates with the old title were destroyed and new were made. Plate lettering on the plates with the new title started over at A for each denomination and bank sheet serial numbering restarted at 1. A very interesting question arises. How were plates handled when the same title was reused later in the same series? The answer is that new plates had to be made with the recycled title, because the originals had been destroyed. Title change plates made prior to April 12, 1919 carried the date of the title change and the Treasury signatures current on that date. Consequently, if the duplicated title occurred before 1919, the plate date would differ and commonly the Treasury signatures would differ as well. However, the plate date and Treasury signatures were the same if the recycled title was adopted after April 12, 1919 because the convention then in effect was simply to copy the plate date and Treasury signatures from the previous plates. The new plates might also, through chance, bear identical securities Table 1. Banks for which title changes initiated by the bankers resulted in issuances of notes with three or more titles where two were identical. Date is when the title change was approved by the Comptroller of the Currency. 4250 AL Anniston The Anniston National Bank The Anniston City National Bank (1/5/1911) The Anniston National Bank (7/1/1918) 335 CT Bridgeport The First National Bank of The First‑Bridgeport National Bank (7/21/1909) The First National Bank of (1/29/1921) The First National Bank and Trust Company of (11/1/1929) 1069 DC Washington The National Metropolitan Bank of The National Metropolitan Citizens Bank of (10/18/1904) The National Metropolitan Bank of (1/10/1906) 3296 IL Peoria The Commercial National Bank of The Commercial‑German National Bank of (1/2/1904) The Commercial National Bank of (5/24/18) Commercial Merchants National Bank and Trust Company of (2/21/1930) 643 MA Boston The Atlantic National Bank of The Fourth‑Atlantic National Bank of (8/30/1912) The Commonwealth‑Atlantic National Bank of (6/30/1923) The Atlantic National Bank of (8/8/1924) 11768 NY Buffalo The Community National Bank of Community‑South Side National Bank of (3/2/1925) The Community National Bank of (2/1/1926) 13006 NY Livonia The Stewart National Bank of The Stewart National Bank and Trust Company of (11/23/1929) The Stewart National Bank of (7/12/1933) 6429 ND Minot The Second National Bank of First National Bank in (7/20/1926) First National Bank & Trust Company in (1/29/1930) First National Bank in (12/5/1933) 2864 PA Gap The Gap National Bank The Gap National Bank and Trust Company (3/15/1930) The Gap National Bank (2/1/1935) 6645 PA Allentown The Merchants National Bank of The Merchants‑Citizens National Bank and Trust Company of (1/7/1929) The Merchants National Bank of (1/11/1933) 4248 TX Wichita Falls The City National Bank of The City National Bank of Commerce of (5/3/1920) The City National Bank of (1/17/1923) SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 395 clauses. If so, this raised the possibility that if all the stars aligned, the new plate could be identical to the earlier! The notes even could have the same backs and seal colors! The burning question is: Did all of these factors ever align and, if so, what happened? The answer is yes, it happened once. The affected bank was The Community National Bank of Buffalo, New York (11768). The first Series of 1902 5-5-5-5 and 10-10-10-20 plates for the bank were made in 1920 when it was chartered and respectively lettered A-B-C-D and A-B-C-A. The title was changed to the Community-South Side National Bank in 1925 and back to The Community National Bank in 1926. New plates were made and plate lettering began at A for each denomination with each change. As illustrated on Figure 1, the plates bearing the first and third titles were identical in every respect. Consequently, it is possible that pairs of $5, $10 and $20 Series of 1902 blue seal plain back notes from plate position A from both plates were saved that bore bank sheet number 1! The only differences would be that the earlier had Treasury sheet serial numbers and regional letters, whereas the latter didn’t. A careful comparison of the Buffalo proofs reveals minute differences in the separations between various design elements in the title blocks, and between the title blocks and surrounding generic features. The siderographers couldn’t exactly replicate the placement of the elements on the plates even though they used the same rolls to lay in the information. Almost Identical Titles The titles of some banks were deliberately tweaked by bankers simply by dropping the article The, changing or dropping the linking preposition of or in, or both. This was accomplished by submitting a title change request to Comptroller of the Currency. Most of these changes resulted from mergers although some involved the bankers taking on or shedding trust powers. Regardless of cause, the bankers desired to retain or reclaim a title but they felt obliged to tweak it to make it distinctive. This was not driven by a legal mandate in the National Bank Act, but rather was a sporadically applied custom. Figure 2. Several of the title changes listed on Table 1 bridge different series such as this Allentown, Pennsylvania, trio. Heritage Auction Archives photos. The entries for Washington and Peoria bridge the 1882 and 1902 series. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 396 Table 2. Banks for which title changes initiated by the bankers resulted in issuances of notes with three or more titles, two of which were identical except for minor grammatical tweaking. Date is when the title change was approved by the Comptroller of the Currency. Dropped "The" 11 IN Fort Wayne The First National Bank of The First and Hamilton National Bank of (5/10/1917) First National Bank of (1/19/1922) First and Tri State National Bank and Trust Company of (12/14/1929) 3069 LA New Orleans The Whitney National Bank of The Whitney‑Central National Bank of (7/3/1905) Whitney National Bank of (8/2/1929) 4907 MA Springfield The Springfield National Bank The Springfield Chapin National Bank and Trust Company (10/11/1929) Springfield National Bank (7/7/1931) 1683 MN Mankato The First National Bank of First National Bank & Trust Company of (12/16/1931) First National Bank of (1/23/1934) 1182 NJ Jersey City The Hudson County National Bank of Union Trust and Hudson County National Bank (2/21/1923) Hudson County National Bank (12/31/1927) 1416 NY Mt. Morris The Genesee River National Bank of (mistake) Mount Morris The Genesee River National Bank of (6/1/1885) Mount Morris The Genesee River National Bank (1929)(mistake) Mt. Morris Genesee River National Bank and Trust Company of (11/30/1929) Mt. Morris Genesee River National Bank of (2/19/1932) 4318 OH Cleveland The Central National Bank of Central National Bank Savings and Trust Company of (12/31/1920) Central National Bank of (1/15/1926) Central United National Bank of (11/16/1929) 5578 PA East Strouds- The Monroe County National Bank of burg Monroe County National Bank and Trust Company of (2/15/1929) Monroe County National Bank of (1/14/1933) 2597 UTT Ogden City The First National Bank of Ogden UT Ogden The First National Bank of (Dec 3, 1901)(mistake) Ogden City The First National Bank of Ogden (Dec 2, 1921) Ogden The First & Utah National Bank of (10/2/1922) Ogden First Utah National Bank of (1/18/1923) Ogden First National Bank of (1/19/1926) Ogden First Security Bank of Utah National Association (2/24/1934) 11693 WA Everett The Security National Bank of Citizens Security National Bank of (4/20/1929) Security National Bank of (5/27/1932) Dropped "The" and replaced "of" with "in" 710 MN Minneapolis The First National Bank of The First and Security National Bank of (5/17/1915) First National Bank in (2/21/1920) First National Bank and Trust Company of (1/31/1933) Dropped "in" 10527 MI Detroit First and Old Detroit National Bank First National Bank in (1/19/1922) First Wayne National Bank of (12/31/1931) First National Bank (10/8/1932) Added "of" 3312 NY Gloversville The Fulton County National Bank The Fulton County National Bank of (2/2/1905) The Fulton County National Bank and Trust Company of (6/20/1930) SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 397 There are two groups of these. Those on Table 2 are from successions of three or more titles wherein the similar ones are separated by one or more intermediaries. In the cases, the first plates with the similar title had been destroyed so new plates with the new title were made. The messiest of the Table 2 entries are those for The Genesee River National Bank of Mount Morris, New York (1416). Two clerical mistakes complicated things. The official title on the organization report for the bank used the preposition of and Mount Morris was spelled out. However, Mt. Morris appeared by mistake on the Original Series and Series of 1875 plates. That was corrected on the Series of 1882 and 1902 plates. When the first set of Series of 1929 logotypes was ordered, of inadvertently was omitted and went unnoticed. When the bankers took on trust powers late in 1929, they submitted a new title wherein they abbreviated the town to Mt. Morris. They perpetuated the Mt. Morris spelling when they dropped their trust functions in 1932. A major challenge would be to find notes with these five title permutations. Similarly, part of the complexity associated with the entries for Ogden, Utah (2597), also was caused by a clerical error involving the Series of 1882 plates. The postal location on the plates was incorrectly shown as Ogden instead of then current Ogden City. The group listed on Table 3 involves consecutive titles where the bankers formally dropped the article The. The importance of them is that the plates with the first title had not been destroyed when the change occurred so some were altered rather than being replaced. Exotic varieties resulted. The most interesting are those that resulted from mergers during their Series of 1902 issues. They were Burlington, Iowa (351), Hodgenville, Kentucky (6894), Greensboro, North Carolina (10112) and Appleton, Wisconsin (1749). The Greensboro and Appleton cases will illustrate the exotic possibilities. Figure 3. The was dropped from the title during the merger between this bank and The Greensboro National Bank in 1922. The plate was simply altered by removing The. Notice that the obsolete securities clause was retained. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 398 The was dropped from the Goldsboro title in 1922. The 5-5-5-5 plate was in good shape so The was simply removed from the four subjects. This obviously qualified as an alteration. The protocol for altered plates was to leave everything else as was including the plate date, plate letters and the now obsolete securities clause. See Figure 3. In contrast, the 10-10-10-20 Goldsboro plate was worn so a new plate was made. Plate lettering restarted at A-B-C-A on the new plate, consistent with lettering a new plate following a title change. Also, the plate date was copied from the earlier plate in accord with the convention for dates on title change plates in effect at that time. Thus, at first glance, the new plate looked identical to the one it replaced, except for the omitted The in the titles. However, there was a subtle difference. The worn Series of 1902 plate had been made in 1911, so Figure 4. The 10-10-10-20 Greensboro plate was worn so rather than alter it to remove The, a new plate was made to reflect the change. Notice that the security clause on the second plate was the current version at the time. National Numismatic Collection, Smithsonian Institution photos. Table 3. Banks for which title changes initialed by the bankers between two consecutive titles consisted of dropping "The."a Cases where the omission of "The" resulted from an error are not listed. Charter State Town Bank Explanation Large Note Era 351 IA Burlington First National Bank of removed from 1902 notes coincident with consolidation with 751 on Sep 25, 1919 6894 KY Hodgenville Farmers National Bank of removed from 1902 notes coincident with consolidation with 9843 on Nov 1, 1920 733 NY New York National Bank of Commerce in omitted from 1902 notes upon extension Jan 14, 1905 10112 NC Greensboro American Exchange National Bank of removed from 1902 notes coincident with consolidation with 5031 on Feb 21, 1922 4301 OR Corvallis First National Bank of omitted from 1902 notes upon extension Apr 8, 1910 1749 WI Appleton First National Bank of removed from 1902 notes coincident with consolidation with 2065 on Sep 30, 1919 Small Note Era 2570 ND Grand Forks First National Bank of removed from 1929 notes coincident with consolidation with 11142 on Jun 28, 1929 13569 OH Chardon Central National Bank of removed from 1929 notes on Sep 10, 1931 9938 OK Chickasha Oklahoma National Bank of removed from 1929 notes coincident with consolidation with 8203 on Feb 24, 1930 680 PA Lebanon Lebanon National Bank removed from 1929 notes on Feb 16, 1930 1464 PA Wlliamsport Williamsport National Bank removed from 1929 notes on Jan 25, 1930 1936 PA Phoenixville Farmers and Mechanics-National Bank of removed from 1929 notes coincident with consolidation with 674 on Mar 24, 1932 b a. There are a few cases where a bank had a succession of titles, two of which were identical except for a dropped "The;" however, the two titles were not consecutive. They appear on Table 2. b. The first title was "The Farmers and Mechanics National Bank of." The hyphen was added when "The" was dropped. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 399 it carried an or other securities clause. The new plate, being of 1922 vintage, carried the current deposited with the Treasurer clause. See Figure 4. A Series of 1902 10-10-10-10 or other securities plate was being used by The First National Bank of Appleton, when The was dropped in 1919. That plate lettered A-B-C-D was altered. Eventually it wore out and was replaced by E-F-G-H with deposited with the Treasurer. This wasn’t a repeat of either of the Greensboro combinations, but it too resulted in notes without The in the titles that could be found with either securities clause. PERSPECTIVE Perhaps the details outlined here seem at best like overwrought minutia or, at worse, trivia. However, titles were taken seriously at the Comptroller of the Currency’s office so the staff attempted to get them right on the notes. The seriousness with which they treated titles is revealed by the fact that the bankers had to file formal title change requests to amend their titles even for such simple acts as dropping the article The from a title. For the collector, it is very challenging to obtain all the titles from a given bank. The temptation is to skip one in cases where the first and third are identical. This is a bad decision. Even though identical, they were used years apart and each represents a distinct phase in the life and history of the bank. SOURCES OF DATA Bureau of Engraving and Printing, 1875-1929, Certified proofs of national bank note face and back plates: National Numismatic Collections, Museum of American History, Smithsonian Institution, Washington, DC. Comptroller of the Currency, 1865-1934, Organization certificates for national banks: Record Group 101, U. S. National Archives, College Park, MD. Figure 5. The was formally dropped from the title of The National Bank of Commerce when the bank was extended in 1905. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 400 Figure 6. In this interesting case, the bankers simply applied for a title change approved September 10, 1931 to have The removed from their title. National Currency Foundation census photos. In Memoriam Larry Adams We were very saddened as a Society to hear of the recent passing of Larry Adams. Mr. Adams of Boone, IA was member number 2278, having joined in 1967. He started collecting stamps in 1955 and then coins in 1960 and moved to paper money in the mid-1960s. At the time of his death, he was the curator of the Higgins Museum in Okoboji, IA and was past curator and director of the Mamie Doud Eisenhower museum in Boone. He served the Society in many different roles. He was on the Board of Governors from 1976-1984; Vice-President from 1979-1983 and President from 1983-1987. He also served as awards chair from 1976-1979 and publicity chair from 1979-1983 and 1987-1988. He published 30+ articles in Paper Money and in 1985 he recruited 49 new members for which he was awarded the Vice- President’s Recruitment Award. He joined the ANA in 1965 and was a co-founder of the Check Collectors Round Table (now the American Society of Check Collectors). SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 401 You Collect. We Protect. Learn more at: www.PCGS.com/Banknote PCGS.COM | THE STANDARD FOR THE RARE COIN INDUSTRY | FOLLOW @PCGSCOIN | ©2021 PROFESSIONAL COIN GRADING SERVICE | A DIVISION OF COLLECTORS UNIVERSE, INC. PCGS Banknote is the premier third-party certification service for paper currency. All banknotes graded and encapsulated by PCGS feature revolutionary Near-Field Communication (NFC) Anti-Counterfeiting Technology that enables collectors and dealers to instantly verify every holder and banknote within. VERIFY YOUR BANKNOTE WITH THE PCGS CERT VERIFICATION APP Bank of the United States 1833 Sight Draft Gives Up Two Autographs of former U.S. Postmasters General By Bill Gunther Collecting autographs of prominent individuals from the early 1800s was never my objective. I was simply fascinated by early financial documents from the Bank of the United States. However, as I began to investigate the individuals whose names appeared on these documents, I became captivated by their stories and signatures. This story is but one of many that await the curious collector. Sight Drafts The item, which is shown below, is a “sight draft”, similar in function at the time to today’s check. It is payable to the Honorable William T. Barry, who was Postmaster General (1829-1835) at the time of this draft. Barry endorsed the check on the back to the Honorable Charles A. Wickliffe, Postmaster General (1841-1845). It is signed by Richard D. Smith, Cashier, Second Bank of the United States. Here are interesting similarities between Barry and Wickliffe: o both were from Kentucky. o both were lawyers. o both served as Postmasters General of the United States. o both served as Lt. Governors of the State of Kentucky, and o both served in the Kentucky House of Representatives. Sight Draft on the Bank of the United States, 1833. Payable to the Honorable Wm. T. Barry. Signed by Richard D. Smith, Cashier.   Reverse of the Bank of the United States sight draft above. Endorsed over to C. A. Wickliffe, signed by William T. Barry, and C. A. Wickliffe. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 403 Honorable William Taylor Barry This sight draft may have been part of the salary due to William Taylor Barry in his capacity as Postmaster General. Barry was born in Lunenburg, Virginia in 1784, but the family moved to Woodford County, Kentucky in 1796 when he was twelve years old. He attended early schools in Woodford County and then enrolled at Transylvania University in Lexington (Fayette County) before transferring and graduating from the College of William and Mary in Williamsburg, Virginia. He was admitted to the bar in Kentucky in 1805 and first practiced in Jessamine County before moving to Lexington. He first married Lucy Waller Overton in Lexington in 1805. They had one daughter, Susan Lucy Barry, born in 1807. There is no record of Lucy Overton Barry’s death or divorce, but William T. Barry remarried in 1812 to Catherine Armistead Mason and they had 9 children. William Taylor Barry, Ancestry.com. Barry was very active in the political life of Kentucky, first serving in the Kentucky House of Representatives from 1810-1811, then serving during the War of 1812 as a member of the Kentucky Volunteers and as an Aid to Governor Isaac Shelby (the first and fifth governor of Kentucky). Barry earned the rank of Major for his service during the War of 1812. From 1815 to 1816, William Barry served as a United States Senator from Kentucky, then in the Kentucky Senate from 1817 to 1821. He was elected as the 7th Lieutenant Governor of Kentucky in late 1820 and served until 1824. From 1824 to 1825, he served as Kentucky’s Secretary of State. President Andrew Johnson appointed Barry as Postmaster General in March of 1829 and he served until 1835 at which time he was appointed ambassador to Spain. He died in Liverpool, England enroute to Spain to take up his position as ambassador. He was 51. His wife, Catherine, remarried in 1838 to T. M. Hickey in New Jersey. She died in England in 1873 at the age of 84. Honorable Charles Anderson Wickliffe On the reverse of this draft, Barry endorsed the draft over to Charles A. Wickliffe, who at the time was a member of the State of Kentucky House of Representatives. Wickliffe was born in 1788 in Springfield (Washington, County), Kentucky. The family had relocated from Virginia in 1784 and Wickliffe must have shared some of the same early experiences as Barry, who was only four years older than Wickliffe. Wickliffe attended school in Springfield, then attended Wilson’s Academy in Bardstown (Nelson County), about 15 miles from Lexington, before being privately tutored by the Acting President of Transylvania University. In 1809 at the age of 21, he was admitted to the Kentucky bar. Wickliffe represented Kentucky for five consecutive terms in the U.S. House of Representatives from 1823 to 1833. This sight draft was endorsed to him during in his last year in the U.S. House of Representatives. After his final tour in Washington, he returned to Kentucky and was elected to the Kentucky House of Representatives in 1834 and was elected Speaker of the House of Representatives. In 1836 he was elected the 11th Lt. Governor of the State of Kentucky and served from 1836 to 1839 when Governor James Clark died in office at the age of 50. Wickliffe assumed the role of Acting Governor and served the remaining time on the Governor’s term (August 1839-September 1840). In 1841, President John Tyler appointed Wickliffe as Postmaster General and he served in that position until 1845 when President James K. Polk appointed him to conduct a secret mission to assess the potential reactions of both England and France regarding the United States annexation of Texas. In 1861, Wickliffe was again elected to the U.S. House of Representatives from Kentucky’s 6th Congressional District for a single term ending in 1863. Charles A. Wickliffe. Ancestry.com SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 404 In early 1863, Wickliffe was thrown from a carriage and was permanently crippled but still ran for Governor later that year, a race that he lost. Later, he became blind as well. While visiting his daughter in Maryland, he became ill and died on October 31, 1869 at the age of 81. Richard D. Smith, Cashier Smith was born on May 18, 1786 in Georgetown, District of Columbia to Walter and Ester Smith. He married Covington Mackall in 1811 and they had a family of five daughters, two of which lived into their eighties. In 1817, Smith was “chosen” to be cashier at the second Bank of the United States at the age of 31. Smith stayed with the bank until he realized that President Andrew Jackson was not going to renew the bank’s charter which was set to expire in 1836. In 1835, Smith became the cashier at the Bank of the Metropolis in the District of Columbia. Smith then continued his role as cashier at the Bank of the Metropolis until died on March 29, 1864, at the age of 78. The Bank of the Metropolis remained in business another year (1865) after Smith’s death when it was reorganized and renamed the National Metropolitan Bank. . I wish to acknowledge the helpful assistance provided by Charles Derby. Sources: “Catherine Armistead Mason Barry Hickey,” Public Family Tree, Ancestry.com. “William T. Barry,” War of 11812 Service Records, Ancestry.com. “William T. Barry”, Wikipedia.org. “William Taylor Barry,” Public Family Tree, Ancestry.com. “James Clark (Kentucky politician),” Wikipedia.com. “Letters of William T. Barry,” www.ancestry.com/mediaui-viewer/tree/169955287/persons. “Richard D. Smith,” Centennial History of D.C., Chapter 10,” Washington, D.C. Genealogy Trails, www.genealogytrails.com. “Richard Smith”, Public Family Tree, Ancestry.com. “Charles A. Wickliffe”, Wikipedia.org. Bank of the Metropolis check to Richard Smith, Cashier from President Andrew Jackson, 1835 Source: Heritage Auctions Bank of the Metropolis. R. D. Smith, Cashier. 1844. Source: Heritage Auctions. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 405 It’s Not Just About the Vignettes: South Carolina’s Most Wanted By Tony Chibbaro When I first began collecting obsolete currency from the state of South Carolina, I was immediately drawn to the intricately engraved Revolutionary War scenes that were prominently featured on some of the notes. Vignettes of the Battle of Sullivan’s Island, General Francis Marion’s Sweet Potato Dinner, and Sergeant Jasper’s Rescue of the Captives were of particular interest. Also gaining my attention were the numerous portraits found alongside or in place of the larger vignettes. Some of these portraits were instantly recognizable, such as George Washington, Thomas Jefferson, Benjamin Franklin, and John C. Calhoun. Others were actually identified on the notes themselves, with surnames accompanying certain of the visages. There was a large group, however, which were not identified and were not immediately recognizable. Some of the latter, I later learned, were named in one or more of the reference works on South Carolina currency. Catalogers such as Austin Sheheen, Jim Haxby, Q. David Bowers, and Washington Clark provided much-appreciated attributions on these. Still others I was able to suss out on my own by matching the vignettes on the notes to known portraits posted online. But that still left quite a few for which I could find no identification. A few months ago, I was proposed for and accepted into membership in the Loblolly Society, an eclectic group of men and women from a variety of disciplines who share an interest in South Carolina history. One of the requirements of membership is research into and later presentation of a monograph on some hitherto- unpublished subject relating to the history of the Palmetto State. I have chosen as my topic an analysis of the portraits appearing on obsolete banknotes issued within the state. A large part of the presentation will cover the historical aspects and political contributions of those portrayed. In order to do justice to the endeavor, it would behoove me to fully identify all who are depicted on such notes and that is the purpose of this article and where its readers can fit in. Appearing on the next pages are photographs of six banknotes from five different South Carolina banking institutions. Magnified images of the nine unidentified portraits are presented above. I am hoping that other collectors can help me put names to these faces and I would welcome any tidbits of information that could provide an identification for any of those depicted. Readers may reach me by email at chibbaro@mindspring.com. The author is seeking identification of any of the men shown above. These portraits appeared on six different banknotes issued within the state of South Carolina prior to the Civil War. The notes in question appear in their full form on the following pages. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 406 $5 Proof Note of the Bank of Charleston printed by the American Bank Note Company, circa 1858-1861. This note, and the one pictured below, are some of the last banknotes prepared for this firm before commerce between the North and the South was interrupted by the Civil War. Neither portrait depicted on this note has been identified. At least two issued notes, both dated in November 1861, are presently known.   Proprietary Proof impression of a $500 note of the Bank of Charleston produced by the American Bank Note Company, circa 1858-1861. Neither portrait has been identified. No issued notes are known. $50 Note of the Exchange Bank of Columbia issued on July 8, 1854. Engraved and printed by Toppan, Carpenter, Casilear & Company of Philadelphia & New York. The male portrait at the lower right is unidentified. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 407 $10 Note of the Bank of Newberry issued on January 8, 1859. Engraved and printed by Toppan, Carpenter, Casilear & Company of Philadelphia & New York. The male portrait at the upper left is unidentified. The $5 notes from this bank, issued contemporaneously with the one pictured above, host a portrait of Judge John B. O’Neall, a local jurist and historian. The $20 notes in the same series depict U.S. Senator and former Vice President of the United States John C. Calhoun. “Progress” Proof impression (note blank area in the central vignette) of a $100 note of the Planters & Merchants Bank of Charleston. Produced by Murray, Draper, Fairman & Company, circa 1825. Portraits of Benjamin Franklin and George Washington adorn the ends, but the other two portraits are unidentified. No issued notes are known. The two unidentified portraits vaguely resemble those of Colonel Thomas Taylor and General Thomas Sumter which appear on $5 notes issued by the Commercial Bank of Columbia, South Carolina. $20 Note of the Bank of South Carolina issued on February 23, 1857. Engraved and printed by Toppan, Carpenter & Company of Philadelphia & New York. The male portrait at the lower right is unidentified. Could this be a portrait of recently deceased U.S. President Zachary Taylor? SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 408 Lyn Knight Currency Auct ions If you are buying notes... You’ll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful “grand format” catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: Great Commission Rates Cash Advances Expert Cataloging Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - support@lynknight.c om Whether you’re buying or selling, visit our website: www.lynknight.com Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 Lyn Knight Currency Auctions Deal with the Leading Auction Company in United States Currency Senior Treasury officials could request that uncut sheets of completed currency be delivered to the Treasury. Generally, the purpose for doing so was to provide souvenirs for the signers, so often they received sheets bearing the first serial numbers with their signatures. Of course, the recipients had to reimburse the Treasury for the face value of the sheets. The first time this practice appears to have occurred based on reported sheets was during the printing of $1, $2 and $5 Series of 1896 silver certificates bearing Tillman-Morgan signatures. During that period, the Bureau of Engraving and Printing executed every printing on Treasury currency (legal tender notes, gold and silver certificates, and Treasury notes) except the Treasury seals. The BEP delivered the sheets to the Treasurer’s office where the seals were applied and the notes separated. Therefore, the BEP was not involved in the decision to deliver the uncut sheets; instead, that was handled within the Treasurer’s office. Responsibility for sealing Treasury currency was transferred to the BEP in 1910 so thereafter the Bureau received the orders to deliver uncut sheets to the Treasury. The responsibility for ordering Treasury currency resided with the U. S. Treasurer so the requisitions for uncut sheets usually came directly from the Treasurer, or at least were passed through the Treasurer. Occasionally I encounter correspondence pertaining to uncut sheets as I peruse official Treasury The Paper Column by Peter Huntoon Uncut Sheets through 1953 Figure 1. Inspecting $100 Series of 1882 gold certificate sheets at the Bureau of Engraving and Printing prior to serial numbering. Library of Congress photo. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 410 Department correspondence now housed at the U. S. National Archives. For example, I was leafing through the correspondence files of the Bureau of the Public Debt in March 2018 when I found a folder labeled “Issue in Sheets.” Of course, I couldn’t resist reading its contents and discovered that it was a particularly rich find that provided terrific insights into the topic. Reproduced verbatim here is everything that was in that file. It is self-explanatory. The last item in the folder is the decision document written in 1953 whereby Treasurer Ivy Baker Priest recommended and Secretary of the Treasury G. M. Humphrey signed off on terminating the practice of issuing sheets. The documents in the folder often contain only one side of the correspondence between the relevant officials. It is apparent that the file was begun in 1925 shortly after Alvin W. Hall assumed the Directorship of the Bureau of Engraving and Printing. It is clear that Hall had become aware of uncut sheets and wanted to formally clear the practice with the Secretary of the Treasury. He had gone into recent Bureau files and found some but not all the documents pertaining the delivery of uncut sheets and had been asked to supply copies of them to the Secretary’s office. We therefore get a good glimpse of what was transpiring between 1914 and 1925. After that nothing was added to the folder until 1953 when someone was asked to file the Priest/Humphrey decision document and found this particular existing folder to be a convenient place to deposit a copy of it. We will start with Hall’s memo transmitting what he and his people had hastily assembled. Items in [ ] are clarifications added by me. Treasury Department Bureau of Engraving and Printing Washington, D. C. October 9, 1925 Memorandum for Mr. Schoeneman: Here are copies of the letters in connection with the delivery of uncut sheets of currency which I referred to in my conversation with you to-day. A. W. Hall Office of Treasurer U. S. February 12 1914 To Director [Joseph E. Ralph], Bureau of Engraving and Printing Washington, D. C. Sir: I shall be obliged if you will kindly reserve for me two sheets each of the next series of $1 and $2 silver certificates having my signature. Sincerely yours, John Burke Office of Treasurer U. S. May 23, 1914 To Director [Joseph E. Ralph], Bureau of Engraving and Printing Washington, D. C. Sir: In connection with my letter to you of sometime ago, requesting you to kindly reserve in sheet from two sheets each of the series of $1 and $2 silver certificates, I would ask that you please increase this number, as follows: $1 Silver Certificates No. 1 to 100 (sheet form) $2 Silver Certificates No. 1 to 24 (sheet form) $5 Silver Certificates No. 1 to 8 (sheet form) $10 Gold Certificates No. 1 to 4 (sheet form) Sincerely yours, John Burke SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 411 Treasury Department Washington, Office of the Treasurer of the United States July 16, 1914 The Honorable, The Secretary of the Treasury My dear Mr. Secretary [W. G. McAdoo] Sometime ago, at the request of a coin collector who desired to secure a few uncut sheets of United States currency for exhibit at a Numismatic Exhibition, I made arrangements with the Director of the Bureau of Engraving and Printing to reserve a number of sheets for the purpose indicated. In addition, thereto, several sheets were furnished to another coin collector and to one or two friends who expressed a desire for them. I have just learned, however, that during Treasurer Roberts’ term of office, the Secretary made a verbal order prohibiting the giving out of any currency in sheets, and while this order was only verbal and made under a former Administration, I desire to respect it and will not permit any more to be given out unless it meets with your approval. The collector to whom the promise was made was Mr. George H. Blake, of New Jersey, and it is quite possible that the purpose for which he wants the bills might meet with your approval. In either event, kindly let me know what action I shall take in the matter. I think I really would approve of a rule, in writing, prohibiting the giving out of currency in sheets to any person. Very respectfully yours, John Burke Treasurer The Secretary of the Treasury Division of Loans and Currency July 20, 1914 Memorandum for Assistant Secretary Hamlin In regard to the furnishing of uncut sheets of United States paper currency, I see no real objection as far as safety to the Government is concerned, for, of course, the full value of the currency would be received by the Department before delivery was made of the uncut sheets, which would be complete in all respects save the separating. But, in my opinion, the granting of such requests would soon become generally known and would be followed by so many similar requests, from various sources and for various purposes, as to become burdensome to the Department. It therefore seems to me unwise to permit the issue of currency in sheets to any person. MG[?] Secretary of the Treasury July 23, 1914 Hon. John Burke, Treasurer of the United States Dear Mr. Treasurer: I have your note of July 16th, with regard to the issuance of uncut sheets of United States currency. I believe it would be unwise to authorize the issuance of currency in sheets, as the granting of such requests might soon become generally known, and be followed by so many similar requests as to become burdensome to the Department. Sincerely yours, W. G. McAdoo Secretary Delivered Uncut [listing without commentary] Aug. 17, 1921 1 sheet $10 U. S. note 1 sheet $20 U. S. note 1 sheet $1 S. C. 1 sheet $10 S. C. Oct. 8, 1921 1 sheet $5 U. S. note 1 sheet $5 S.C. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 412 Feb. 9, 1922 1 sheet $2 U. S. note Feb. 23, 1922 1 sheet $1 S. C. Nov. 22, 1923 1 sheet $2 S. C. Aug. 30, 1923 1 sheet $2 U. S. note 1 sheet $10 U. S. note 1 sheet $1 S. C. 1 sheet $10 S. C. Oct 4, 1923 1 sheet $5 S. C. Treasury Department Washington November 17, 1922 Honorable Louis A. Hill, Director Bureau of Engraving and Printing Dear Sir: In furtherance of the telephone conversation which my secretary had with your office this morning I would like to ask if it would not be possible for you, when next the denominations are available and sent to the Treasury, to leave uncut one sheet (4 notes) of each of the following: $2, $10, and $20 Silver Certificates, $10, and $20 Gold Certificates. These sheets are for Mr. George H. Blake, a recognized collector of paper money and it is the policy of the Department to take care of him in these matters. The sheets could be send with the regular shipment in the usual way. Respectfully yours, Frank White Treasurer Order 6229 Treasury Department Washington August 21, 1923 Honorable Louis A. Hill, Director Bureau of Engraving and Printing Dear Mr. Hill: It is respectfully requested that the following notes be sent us in uncut sheets, wherever it is convenient for you to do so, with some regular shipment: Silver Certificate (one sheet each) 1’s, 2’s, 5’s and 10’s. Legal Tender (one sheet each) 1’s, 2’s, 5’s and 10’s. Gold Certificates (one sheet) 10’s. It is desired that the above notes bear the name of H. V. Speelman, Register of the Treasury. Thanking you for this courtesy, I am Yours very truly, Frank White Treasurer Treasury Department Fiscal Service Washington Treasurer of the United States Dec 31, 1953 Memorandum to the Secretary: For many years it has been the practice of the Treasurer of the United States to sell U. S. notes and sliver certificates in sheet form by furnishing them direct to the public on individual requests. Apparently this started very long ago to accommodate new Treasurers and Secretaries of the Treasury with the first run of currency bearing their names. This placed a great premium on the notes and subsequently the current practice of making them available to anyone was adopted. It is the intention that they be used by collectors for their personal collections only and that they not be used by dealers for commercial purposes. While we SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 413 could not police this we did adopt a rule to furnish only one sheet of a kind and denomination to a customer. It was not widely known for a long period of time that currency in sheet form could be purchased from the Treasurer and consequently the number of requests received during that time were nominal and no doubt the currency was used for the purpose intended. Within the last few years it appears that it has become quite widely known that sheets of U. S. currency can be obtained from the Treasurer and as a result the demand had greatly increased. During the entire calendar year of 1951 we sold only 36 sheets of one dollar bills, whereas this year we have already sold 366 sheets to date. In addition, it appears that the demand will continue to increase as the years roll by and more and more people learn of this fact. Just recently we see evidence that concerted efforts are being made by dealers to circumvent our one to a customer rule by having friends obtain sheets of currency for them. Advertisements are beginning to appear in magazines in which dealers are offering to sell U. S. currency in sheet form at high premiums. An example of this appears on page 1258 of “The Numismatist Magazine” for November 1953 wherein James, Inc., of 300 W. Main Street, Louisville, Kentucky, offers to sell $1.00 silver certificates in blocks of four for $13.00. We also get frequent requests for sheets of currency to be used as Christmas gifts and for other unusual reasons not associated with currency collections. Many people are now soliciting the help of members of Congress to obtain sheets of currency for them. It would seem that currency in sheet form is an unfinished product and as such does not serve the purpose intended which is to fill the needs of business. At times the Secret Service has been confronted with deciding whether sheets of currency in the hands of the public were obtained legitimately or could possibly have been stolen from the Bureau of Engraving and Printing during the manufacturing process. While it is clear that we have the obligation to keep currency in circulation to fulfill its purposes, and consequently must bear the attendant expense, it is not so clear that the Government is obligated to furnish currency for other purposes to satisfy selected groups, particularly when this special service has become subject to abuses. Because of (1) the ever increasing demand, (2) the fact that currency in sheet form is an unfinished product and may hamper the work of Secret Service in cases of theft during manufacture, and (3) the unethical efforts being made by currency dealers to obtain sheets in quantity for resale commercially, it is recommended that the Treasurer be authorized to discontinue the sale of U S. notes and silver certificates in sheet form. If this is done, currency in sheets would no longer be available for new Treasurers or Secretaries of the Treasury. For your information it is our understanding that Federal Reserve notes are not released in sheet form. Ivy Baker Priest Treasurer of the United Approval Recommended Edward F. Bartelt Fiscal Assistant Secretary Approved: G. M. Humphrey Secretary of the Treasury It is clear that uncut sheets were a nuisance to the Treasury Department, and especially to the Bureau of Engraving and Printing. However, they were vanity items for the Treasury signers so they continued to be made well after Director Alvin Hall raised them as an issue in 1925. Hall came from an accounting background and his management style was characterized by an emphasis on efficiency, cost savings and modernization. You can be certain that he campaigned within Treasury to discontinue them because they were a time waster in his shop, although I haven’t found any statement to that effect authored or attributed to him. He was a political savvy individual who carried out orders without ruffling the feathers of the political class and thus became the longest serving Director in Bureau history. He left office in 1954 just after Priest got the sheet program shut down. Hall succeeded in limiting the production of uncut sheets to the low denomination silver certificates and legal tender notes during his tenure. The sheets were delivered to the Treasurer’s office and made available through the cash window at the Treasury building. Obviously, the interested officials got first crack at them but the leftovers were then SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 414 sold to anyone who wanted one at face value. The practice of selling to the public in this fashion began during the large note era. Ironically more $1 SC 1935E Priest-Humphrey 18-subject sheets were sold than any other variety. In addition, Priest became one of the most prolific signers of individual notes as well. George H. Blake Renowned early currency collector and researcher George H. Blake’s name is sprinkled throughout the correspondence reproduced here so it is obvious that he cultivated and became very well connected with Treasury officials. Blake’s enormous contributions to numismatics turn on the facts that he was responsible for ferreting out many if not most of the low and attractive serial numbers on both large and small size currency that were saved during the first half of the 20th century (Huntoon, 2018) and for securing and brokering the number 1 Series of 1929 national bank notes sheets that comprised Col. Green’s phenomenal hoard of them (Huntoon and Bedell, 2009). These notes, sheets and notes cut from the sheets now populate your collections and comprise the centerpieces within them. I found the following memo in Bureau of the Public Debt file K730 that outlines just how well Blake was regarded within Treasury circles. From it, you will see that he was largely responsible for cajoling the Treasury Department to form a collection of their large size issues, which ultimately was donated to the National Numismatic Collection at the Smithsonian Institution. That collection now forms the core of the Smithsonian’s U. S. currency holding. Blake was 70 years old at the time this memo was written. He had just retired from his leather belting manufacturing business in New Jersey and was an energetic man looking for fulfilling retirement projects. His work with Treasury in building their currency collection meshed nicely with his huge project Figure 2. Ad from the November 1952 Numismatist mentioned by Treasurer Ivy Baker Priest in her memo recommending discontinuance of the issuance of uncut sheets. Figure 3. Ivy Baker Priest served as Treasurer January 28, 1953-January 29, 1961 under President Eisenhower. Wikipedia photo. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 415 to assemble Col. Green’s hoard of small size national bank note sheets. He already had unprecedented access within the Treasury Department so his volunteer work only enhanced his standing there. Assistant Secretary Treasury Department Washington October 29, 1928 To Mr. Broughton [Commissioner of the Bureau of the Public Debt]: Mr. George H. Blake, Treasurer of the American Numismatic Association, has again directed the Department’s attention to the inadequacy and poor condition of the Treasury’s collection of specimens of currency. Over a long period of years Mr. Blake has manifested a keen interest in this subject, and has been of substantial assistance to the Department. The Department’s present collection, I am advised, is largely the result of Mr. Blakes’s efforts. A few months ago Mr. Blake discussed with me the advisability of enlarging the Department’s collection, acquiring specimens of notes not now represented, and replacing certain of the present specimens by better specimens as they are from time to time presented for redemption. I am sure you will recognize the desirability of improving the Department’s collection, and that the Treasurer of the United States and the Federal Reserve Board will cooperate in every manner possible to this end. Mr. Blake is now retired from business, and advises me that his is prepared now to enter upon the work. He will of course receive no compensation, but merely requests permission to engage in this work because of its numismatic interest. Working facilities, including a room and ironing equipment, will be required. The matter of responsibility for the specimens should be considered and in this connection Mr. Bake would be pleased to furnish, if desired, adequate bond. This, however, may not be necessary. The exchange of small-size currency during the latter half of the next calendar year will furnish a particularly favorable opportunity for the acquisition of specimens of obsolete notes. To insure the segregation of such notes from the regular redemptions, and to avoid damaging the specimens by cutting or punching, will necessitate the issuance of special instructions to the Federal Reserve Banks as well as to the Treasurer of the United States. These matters may be worked out between yourself, Mr. Eddy [Walter L. Eddy Secretary of the Federal Reserve System], and the Treasurer of the United States. Mr. Blake has left with me two samples of celluloid pages which are attached hereto. The fabric- edged holder is of the type now employed in our present specimen book. The plain holder is Mr. Blakes’s latest design, which he proposes to use in connection with this impending work. The matter of obtaining funds for the purchase of these holders, which I understand may cost several hundred dollars, will have to be considered. I am advising Mr. Blake to call upon you within a few days for definite instructions in the above connection. Meanwhile will you please prepare and submit to me for approval a formal order authorizing Mr. Blake to undertake this work, providing, of course, his proposal meets with your approval. H. H. B. [Henry Herrick Bond] Figure 4. George H. Blake. Photo used in his obituary in The Numismatist (1956). Figure 5. Henry Herrick Bond, Assistant Secretary of the Treasury. Library of Congress photo. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 416 Mr. Bond was brought in as Assistant Secretary of the Treasury specifically to oversee the conversion from large to small size currency. He exercised decisive authority in this regard and his wishes as outlined above were carried out. Surviving Large Size Uncut Sheets Martin Gengerke’s current census of surviving uncut large size type note sheets is reproduced here as Table 1. You can go back and forth between the memos quoted above to pinpoint some of those sheets in the census. Others that are mentioned have not appeared on the numismatic market or were subsequently cut. Uniformly missing from the census are the higher denomination sheets mentioned in the memos. The verbal prohibition against issuing uncut sheets promulgated by the then current Secretary of the Treasury during Treasurer Robert’s term mentioned in Burke’s July 16, 1914 memo is curious. The largest number of reported uncut sheets of any variety in the census consists of $1 Series of 1899 Lyons-Robert’s silver certificate sheets. Notice also that several sheets in the census bear Treasurer Burke’s signature in the form of Parker-Burke and Teehee-Burke examples. Significantly, some are Federal Reserve sheets revealing that Burke pursued them at some of those banks. How lucky we were to have had Blake and Burke working together to obtain them. Table 1. Reported U. S. large size uncut currency sheets in the Gengerke census. Class Series Den Treas. Sigs. 1st Serial No. Fr. # LT 1917 $1 Elliott-White M11812001A Fr.38m LT 1917 $1 Speelman-White R73628001A Fr.39 LT 1917 $2 Elliott-White B26288001A Fr.59m LT 1917 $2 Speelman-White B64612001A Fr.60 LT 1880 $5 Lyons-Roberts A52156001 Fr.82 LT 1907 $5 Elliott-White H46924001 Fr.90m LT 1907 $5 Elliott-White H50916001 Fr.90 LT 1901 $10 Elliott-White E16888001 Fr.121m LT 1901 $10 Speelman-White E33736001 Fr.122 LT 1880 $20 Elliott-White A4840001A Fr.147 SC 1896 $1 Tillman-Morgan 1 Fr.224 SC 1896 $1 Tillman-Morgan 5 Fr.224 SC 1896 $1 Tillman-Morgan 9 Fr.224 SC 1896 $1 Bruce-Roberts 43655997 Fr.225 SC 1899 $1 Lyons-Roberts 1 Fr.226 SC 1899 $1 Lyons-Roberts 89472001 Fr.226 SC 1899 $1 Lyons-Roberts 94052897 Fr.226 SC 1899 $1 Lyons-Roberts 99999997 Fr.226 SC 1899 $1 Lyons-Roberts A19604017 Fr.226a SC 1899 $1 Lyons-Roberts A24503425 Fr.226a SC 1899 $1 Lyons-Roberts A24503517 Fr.226a SC 1899 $1 Lyons-Roberts A24760069 Fr.226a SC 1899 $1 Lyons-Roberts A24760073 Fr.226a SC 1899 $1 Lyons-Roberts A24760101 Fr.226a SC 1899 $1 Lyons-Roberts A24760229 Fr.226a SC 1899 $1 Lyons-Roberts A24760253 Fr.226a SC 1899 $1 Lyons-Roberts A24760293 Fr.226a SC 1899 $1 Lyons-Roberts A24828057 Fr.226a SC 1899 $1 Lyons-Roberts A24828341 Fr.226a SC 1899 $1 Lyons-Roberts A24828465 Fr.226a SC 1899 $1 Lyons-Roberts A24828477 Fr.226a SC 1899 $1 Lyons-Roberts A24828489 Fr.226a SC 1899 $1 Vernon-McClung V1 Fr.229 Figure 6. John Burke, Treasurer of the United States April 1, 1913-January 5, 1921. Library of Congress photo. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 417 SC 1899 $1 Vernon-McClung V5 Fr.229 SC 1899 $1 Vernon-McClung V9 Fr.229 SC 1899 $1 Parker-Burke K9K Fr.232 SC 1899 $1 Parker-Burke K17K Fr.232 SC 1899 $1 Parker-Burke K13K Fr.232 SC 1899 $1 Parker-Burke K21K Fr.232 SC 1899 $1 Parker-Burke M1M Fr.232 SC 1899 $1 Elliott-White E23356001A Fr.235 SC 1899 $1 Speelman-White T31672001A Fr.236 SC 1896 $2 Tillman-Morgan 1 Fr.247 SC 1896 $2 Tillman-Morgan 5 Fr.247 SC 1896 $2 Tillman-Morgan 13 Fr.247 SC 1899 $2 Lyons-Roberts 21 Fr.249 SC 1899 $2 Lyons-Roberts 45 Fr.249 SC 1899 $2 Lyons-Roberts 193 Fr.249 SC 1899 $2 Vernon-McClung E1 Fr.252 SC 1899 $2 Vernon-McClung E5 Fr.252 SC 1899 $2 Parker-Burke M1 Fr.255 SC 1899 $2 Parker-Burke M5 Fr.255 SC 1899 $2 Parker-Burke M9 Fr.255 SC 1899 $2 Speelman-White N67048001 Fr.258 SC 1896 $5 Tillman-Morgan 1 Fr.268 SC 1896 $5 Tillman-Morgan 5 Fr.268 SC 1899 $5 Parker-Burke M1 Fr.277 SC 1899 $5 Speelman-White N46392001 Fr.281 Treas 1890 $1 Rosecrans-Huston A883525 Fr.347 Treas 1891 $1 Tillman-Morgan B13160001 Fr.351 FRN 1915 $5 Teehee-Burke F1A Fr.789 FRN 1915 $5 Teehee-Burke F5A Fr.789 FRN 1915 $5 Teehee-Burke F9A Fr.789 FRN 1915 $5 Teehee-Burke F13A Fr.789 FRN 1915 $5 Teehee-Burke F17A Fr.789 FRN 1915 $10 Teehee-Burke G167997A Fr.813 FRN 1915 $20 Teehee-Burke G47997A Fr.824 Sources of Data and References Cited Bureau of the Public Debt, Record Group 53, Series K Currency, box 2, file K201 “Issue in sheets” (53:450/45/01/03): U. S. National Archives, College Park, MD. Bureau of the Public Debt, Record Group 53, Series K Currency, box 12, file K730 “Currency, Specimens, 1913-1928” (53:450/45/01/06): U. S. National Archives, College Park, MD. Gengerke, Martin, on demand, The Gengerke census of U. S. large size currency: gengerke@aol.com. Huntoon, Peter, and Barbara Bedell, Jan-Feb 2009, Colonel Edward H. R. Green, collector extraordinaire, and the story of the number 1 Series of 1929 sheets: Paper Money, v. 48, p. 34-56. Huntoon, Peter, 2018, George Blake and fancy serial numbers: Paper Money, v. 57, p. 156-161. The Numismatist, Feb 1956, Obituaries, George H. Blake, LM 150: p. 166. The Numismatist, Nov 1953, p. 1258. Figure 7. Associated Press Wirephoto caption: “Chicago, Dec. 16, 1965—ONE HECK OF A NOTE—Bernard Feinberg, president of the Jefferson State Bank of Chicago, displays a dollar bill, or actually parts of four dollar notes, which turned up in a batch of new currency at the bank. Feinberg, who collects rare coins and currency, attributes the odd result to a machine which cuts sheets of newly printed money in the government printing office becoming off center.” Photo provided by Richard Erb. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 418 A Very Brief Update on the T-64 CSA $500 Note Survey of 3500 Notes by Steve Feller Figure 1: Is this the last CSA note issued? Note the serial number 38386. This is the ninth in a series of articles on surveys of the T-64 $500 Stonewall Jackson CSA note. It is meant to be a concise update, only. The last article gave much more detail about the note itself, see bibliography. The data from the 3500-note census, as of September 11, 2022, are summarized below. Table 1: Number and rate of T-64 notes surveyed Date Notes Seen to Date Change Change/day September 11, 2022 3500 346 0.531 November 29, 2020 3154 443 0.457 March 25, 2018 2711 348 0.424 December 25, 2015 2363 516 0.456 November 18, 2012 1847 206 0.419 July 16, 2011 1641 665 0.475 September 15, 2007 976 372 0.589 December 23, 2005 604 September 11, 2022- December 23, 2005 2896 0.474 over 6106 days It is interesting to note how constant the rate of finding new notes is—For over 17 years it has remained at about 3-4 new notes per week. This implies that there are still many unreported notes out. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 419 Table 2: Number and frequency of varieties of T-64 notes seen in the last few surveys. Serial Range # Printed Type # Seen Frequency 9/11/22-11/29/20 Freq.chng 1-6000 24000 489A 504 0.0210 50 0.0021 6001 - 33000 108000 489 2396 0.0222 239 0.0022 33001-38386 21544* 489B 600 0.0279 57 0.0027 Total 153544* 3500 0.0228 346 0.0021 Serial Range # Printed Type # Seen Frequency 11/29/20-3/25/18 1-6000 24000 489A 454 0.0189 59 6001-33000 108000 489 2157 0.0200 298 33001-38386 21544* 489B 543 0.0252 86 Total 153544* 3154 0.0205 443 *In this table it is assumed that Type 489B notes ceased production with the last serial observed, 38386. The average separation between serial numbers is about 11 while forType 489B it is only 9. The four serial letters, A,B,C,D are more or less equal in frequncy, see Figure 2. Figure 2: Number of notes with serials A,B,C, and D after 3500 note observations Other information may be gleaned from the 3500, 3154, 2711, 2363, 1847, 1641 and 976 observed serials from the last seven survey sampling periods. Consider the last six groups of one thousand serials; this constitutes the entire range of Criswell 489B notes, these often come with the marvelous dark red ink. I observed the following in Table 3: 0 100 200 300 400 500 600 700 800 900 1000 A B C D N u m b er Serial Letter Number of Notes with Serial Letters A,B,C, and D for Type 64 CSA $500 after 3500 Note Observations SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 420 Table 3: Numbers of Type 489B notes observed Thousand Serials Notes in Each Observed Set 976 1641 1848 2363 2711 3154 3500 33001-34000 30 47 53 62 74 89 102 34001-35000 32 64 69 80 91 118 129 35001-36000 34 56 62 81 91 111 123 36001-37000 39 49 61 97 106 118 127 37001-38000 35 49 53 63 71 76 86 38001-38386 (Last Note) 13 15 17 20 24 31 33 Total Type 489B Notes 183 280 315 403 457 543 600 Fraction of Type 489B 0.188 0.171 0.170 0.171 0.169 0.172 0.171 Fraction of 489B 38000+ 0.0134 0.0091 0.0092 0.0085 0.0089 0.0098 0.0094 For the current data set Type 489B notes (with the range of serial numbers 33001 to 38000) there is on average 113.4 observed notes per 1000 serials with a variation, 86 to 129, in the numbers observed. The sudden drop to 33 serials above 38000 is a clear indication that the serials stopped abruptly. Extrapolating the rate of observed notes of 112.6 per 1000 to the range above 38000 and using the fact that 33 notes have been observed above 38000 leads to a predicted end of the serial range to be 38000 + (33/113.4)*1000 or 38291. This is fairly close to 38386 indicating that 38386 is near to the last of the serial numbers. The last seven surveys, shown in Table 4, predict the final serial numbers to be: Table 4: Predicted last serial numbers and difference to observed 38386 based on the trend of Type 489B notes. 976 1641 847 2363 2711 3154 3500 Notes Predicted Last Serial 38442 38283 38283 38260 38277 38303 38291 Predicted Last Serial -actual Last Serial 56 -103 -103 -126 -109 -83 -95 If readers have additional serial number and letter reports I would be pleased to receive them at sfeller@coe.edu; a scan would be great. Each article generates several new observations that are sent to me. This has become the most studied of all the 1864 notes. The previous articles in this series are listed below. In summary, it does not seem that we are nearing the end of new serial numbers. They are still being found at a rate of about one note every two days. Bibliography [1] S. A. Feller, “The Criswell Type 64 Confederate States of America $500 Note,” I.B.N.S. Journal, 42(3) 2003 27-33. [2] S.A. Feller, “The Criswell Type 64 Confederate States of America $500 Note: A Statistical Update,” I.B.N.S. Journal, 43(2) 2004 54-55. [3] S.A. Feller, “Is This the Last Confederate Note Issued?,” I.B.N.S. Journal, 44(4) 2005 31-32. [4] S.A. Feller, “A Survey of Nearly 1000 Type-64 CSA $500 Notes,” Paper Money XLVII (1) Whole Number 253 2008 11-18. [5] S.A. Feller, “1641 Note-Survey Update on Type-64 CSA $500 Notes: What was the last number Issued,” Paper Money L (6) (Whole Number 276) 464-476 (2011). [6] S.A. Feller, “1847 Note Survey on Type- 64 CSA $500 Notes: What Was the Last Note Issued?: A Brief Update,” Paper Money LII (4) (Whole Number 284) 116-118 (2013). [7] S.A. Feller, “2363 Note Survey on Type- 64 CSA $500 Notes: What Was the Last Note Issued?: Another Brief Update,” Paper Money LV (2) (Whole Number 302) 118-121 (2016). [8] S.A. Feller, “My Over 15 Year Hunt: A 2711 Note Survey on T-64 CSA $500 Notes: What Was the Last Note Issued?: A Detailed Update,” Paper Money LVII (3) (Whole Number 315) 180-185 (2018). [9] Steve Feller,” My 17 Year Hunt: The 3154 Note Survey on T-64 CSA $500 Notes What Was the Last Note Issued? Another Update,” Paper Money LX (3) (Whole Number 333) 211-217 (2021). [10] Criswell, Grover C., Comprehensive Catalog of Confederate Paper Money (BNR Press: Port Clinton, OH) (1996). [11] Thian, Raphael P. Register of the Confederate Debt (Quarterman Publications: Boston) 1972. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 421 The Reapers Vignette by ABNC Revisited by Roland Rollins My original intent of this article was to add the Souvenir Cards, Checks, Promotional Sheets, & Test Notes that featured this vignette to the fine attributions of bank notes and stocks/bonds already penned by Gene Hessler1. There are also useful vignette titles for the varieties of The Reapers produced by Mark D. Tomasko2. I soon discovered a few omissions from both the bank note and stock/bond listings. All the additional bank notes I found were proof or essay, so it is probable Hessler only included notes produced for commerce. Hessler also mentions competitors that made use of The Reapers, including Wm. Mann, Theo Leonhardt & Son, Union Banknote Co. and S & B. I have found five more firms that “borrowed” the vignette as well. The four Reapers engravings are:  The Reapers No. 1, (AKA No. 763) 46mm high, retouched by Alfred Sealy in 1860.  The Reapers No. 2 [O.A. 791], renumbered V-4709882mm high, engraved by G.F.C. Smillie, finished by James Smillie, August 14, 1874.  The Reapers No. 3 (Die 44474) (C 327) 40mm high, re-engraved by Angelo Delnoce, September 26, 1888.  The Reapers No. 3 (Die 44474) (C 327) 40mm high, re-engraved by Angelo Delnoce, September 26, 1888. Additional Bank Notes to Add A wonderful private bank note utilized this image on this proof of The Waltham Bank of Massachusetts. The note shows a patent date of 30 June 1857 while entered in an act of Congress in 1862. Hessler listed a note from Uruguay, but here’s another proof note from a different bank – Banco de Espana y Rio de la Plata, Montevideo. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 422 Hessler lists a Colombia 100 Peso note. There are at least two more coupon bonds from Credito Caucano, Popayan, Colombia. Here’s the 15 Pesos, P-S891s8 and the 20 Pesos proof on cardstock, P-S892s8. In 1988, ABNC produced a face proof of the 1000 Korun note Hessler lists but offers no image, with certification on back. Both Pick and the Bank Note Book assigned separate catalog numbers for this, P13b4 and B114b5 respectively. There were also two other notes for Czechoslovakia that did not come to fruition, with only mock-ups found in the ABNC archives. Czechoslovak Republic 20 and 50 Korun partially printed working project. The 50 has a proposed date of June 7, 1919. Records indicate the color scheme envisioned for the 50 as orange on both sides. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 423 The first firm to add to the list that “borrowed” The Reapers vignette is a 10 Cents Civil War payment voucher for Geo. Richard, Sutler of Col. Rippen's 61st Regiment. The printer is provided at the bottom of the note – “Krebs & Bro., Lith. Pittsburgh”. Another unknown printer counterfeited Valley Bank, Hillsborough. $10 note dated 1860. It is an altered Egg harbor note with orange panel outlining TEN. Cattle in stream, lower left "The Reapers." It is cataloged as NH-130 A106. No image available. Additional Stocks and Bonds to Add Here’s an unrecorded American-British Home Building Association stock certificate of Rhode Island. The vignettes are poorly printed. I strongly suspect this certificate fits in the new find AND new firm “borrowing” the vignette – firm unknown. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 424 There are stocks produced by Hoffman Seal, Stamp & Eng. Co. using The Reapers vignette. The stock is so similar to the American-British stock; one could assume it was also produced by Hoffman. Here is a $25 Brockton Mowing-Machine Cutter-Bar Company of Massachusetts stock certificate, circa 1910-1919. A North Side Board of Trade Building Company of New York, NY stock is identical, less the firm name change. Hessler lists a Banco Agricola, Chile coupon bond. There are at least two – 500 Peso and 1000 Peso versions. The 500 Peso has a purple border and “500”. The 1000 Peso has a green border and “1000”. Here’s the 500 Peso piece. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 425 A $25 Income Bond Script from The Southern Kansas Railway Company cancelled in 1888. It is cataloged as R67 in the Cox database. There are three more recent stock certificate Specimens to add. General Mills, Inc. preferred stock Specimen blank. Minneapolis-Moline Company $100 Specimen Blank dated 1986. The Quaker Oats Company Specimen blank. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 426 Additional Souvenir Sheets to Add Of course a more complete list must include the 50th Anniversary of SPMC in 2011. This was recently assigned MC-47A (Mike Bean plate printer) by the Souvenir Card Collectors Society Another souvenir card is assigned the catalog number F1981i by the Souvenir Card Collectors Society. It was printed for the 78th IPPDSPM&EU convention (International Plate Printers, Die Stampers, Plate Makers and Engravers Union). Notice the steam powered train added to the lower left side of the vignette. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 427 Hessler mentions the Bank of Pittsylvania, Chatham $20 is available on a 1989 card. Here is an image of this SO-65 card (5000 produced) for the 200th Anniversary of the inauguration of George Washington. This one was canceled at International Paper Money Show in Memphis. The United States Postal Service used The Reapers vignette on one of its American Commemoratives celebrating Breast Cancer Awareness. The CP490 card was produced in 1986. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 428 Additional Test Notes to Add This test note at left find prompted this article! I have attributed test notes for 17 years for my catalogs on test notes and have just unearthed this sample this year, just in time for the new release of the book on ABNC (& predecessors) test notes in March. I doubt I will be able to find a sample of this note in more pristine condition. There is intricate scrollwork on the reverse. It is attributed as ABNC-1449. A set of test notes were produced for Dokumentacni Akciova Spolecnost (DAS) in the Czech Republic. They print stamps, equities, bonds, tickets, vouchers, and other valuable papers. Its customers include Czech State Printing Works of Securities. To promote their Museum of Securities, they set up a Foundation Fund. That they would have access to The Reapers vignette is obvious to world currency collectors, since two of the most striking bank notes produced with The Reapers vignette were for Czechoslovakia. Both are documented by Hessler. The image at right is one of the five DAS test notes designed by Matej Gabris, attributed as DAS- 171e10. All are identical with different color schemes. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 429 Additional Checks to Add Territorial check from The Merchants National Bank of Helena, Montana dated 1888 followed by Genesee Valley National Bank, New York Specimen, circa 1900-1909. Here is another Reapers vignette check, but this one was printed by A. Hoen and Company of Baltimore for the First National Bank of Parkersburg, West Virginia dated 1881. References 1 – “The Engravings of G. F. C. Smillie”, ANA The Numismatist, September 1990, Gene Hessler 2 – “Naming Names – Vignette Titles in the Standard Catalogs”, IBNS Journal, Volume 44 Number 4, 2005, Mark D. Tomasko 3 – “Notes on Bank Note Engravers & Artist Attributions”, SPMC Paper Money, Volume XLVI, Number 2, 2007, Mark D. Tomasko 4 – “Standard Catalog of World Paper Money, Modern Issues16th Edition, 2016, Stacy L. Schmidt editor 5 – “The Banknote Book: Czechoslovakia”, 2022, Owen W. Linzmayer 6 – “Standard Catalog of United States Obsolete Bank Notes”, 2009, James A. Haxby 7 – “Collectible Stocks and Bonds from North American Railroads, 3rd Edition”, 2018, Terry Cox 8 – Standard Catalog of World Paper Money, Specialized Issues 12 Edition, 2013, George S. Cuhaj Editor 9 – “Catalog of American Bank Note Company Test Notes, 2022”, Roland Rollins 10 – “Catalog of Printers Promotional Sheets & Test Notes, 16th Edition”, 2021, Roland Rollins SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 430 • Graded Currency Album $69.99 • Graded Currency Album Refill Pages (Large Size) $39.99 • Currency Album For Large Notes $49.99 • Deluxe Currency Album - Large Notes $44.95 BUILD YOUR COLLECTION WITH OUR CURRENCY ALBUMS FEATURING CURRENCY BOOKS • A Guide Book of United States Paper Money 7th Edition $24.95 •United States Currency 8th Edition $19.95 GET YOURS TODAY! To order, please call toll-free: 1-800-546-2995 Online: www.whitman.com Email: customerservice@whitman.com COLOR VARIATIONS ON THE 2nd ISSUE 25¢ FRACTIONALS By Rick Melamed The 2nd issue 25¢ Fractional has always been an enigmatic series when it comes to the color variations on the reverses. Taking in account the passage of time possibly causing color shifts, there is still ample evidence that a wide variation of dyes do exist. We’ve taken mostly uncirculated examples from the Heritage Auction Archives to showcase the wide array of colors. The question arises – why is there such a wide fluctuation? Could it be a case of dye instability, inconsistent mixing when creating the dye or variations due to time and/or light exposure? Or could it be more simply that the Treasury was constantly experimenting? We hasten to add that large size currency or any subsequent issues of Fractionals of the era do not show the wide color variations found only here – on the 25¢ 2nd issue Fractional. With such a wide range of colors, one might also question why the different variations are not noted in the Friedberg reference. With the exception of the Fr. 1286a slate back, there is no narrative dedicated to the different colors used on the reverses. Hopefully this article will adequately showcase these color varieties. REGULAR ISSUE The first 2 examples have little to no purple. The note on the left is the Fr. 1286a slate back. It contains nary a hint of purple. The second note - Fr. 1285 is almost a slate back variety but does contain a small amount of purple. The next 3 regular issue examples do show some purple, but there are strong brown tones making this challenging to call them a purple back. The note on the left is brown - Fr. 1284. The 2nd - Fr. 1288 is a brown/purple and the example on the far right - Fr. 1288 is a darker version of the brown/purple mix. With the last set of regular issue notes we finally see the purple we generally associate with the series. Right: The Fr. 1285 is closer to maroon than purple. Left: The Fr. 1290 is a rich vibrant purple. SPECIMENS/EXPERIMENTALS/ESSAYS When the Treasury was in the early stages of developing and designing the 2nd issue, they experimented widely with various surcharges, paper and dye colors. The range of colors found on the 25¢ 2nd issue Specimens, Experimentals and Essays show even a broader array of colors that moves far beyond what is found on the regular issue of Fractionals. The note shown on the right is an extremely rare (probably unique) 25¢ Essay - Milt 2E25R.4. The note is printed in black ink and is even darker than the slate back Fr. 1286a as seen above. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 432 These two examples are very early Experimentals. Both show yet another color of purple not seen anywhere else. The wide margin Experimental on the left is a pleasant lilac color and is the most valuable of any 2nd issue note ever sold ($19,200 from the HA 2021 Laub sale - the other side has a brown back design with no shield…literally a note with (2) reverses). The narrow margin Experimental on the right might even be earlier as evidenced by the missing “25” and shield; likely some of the earliest 2nd issue Experimentals ever issued. The narrow margin Specimen shown to the left – Fr. 1283 has a muted purple/blue color only seen on Fractional Currency shields; the example on right, also from a shield, is a pale blue shade. The three examples below are all Negative Essays. The note on the left (similar to Milt 2E25R.1a) has a dark purple/black color. The note in the middle (which is Milt 2E25R1a) is a slightly darker version. The note on the far right (Milt 2E25R.1b) contains a unique color of blue. All these color variations were quickly abandoned. The wide margin Fr. 1283 Specimen on the left is a very dark purple bordering on black (but is lighter than the Negative Essay shown just above center). The note on the right is black/purple Fractional Experimental with yet another color variation. The color variations, especially on the 25¢ 2nd issue, clearly show the Treasury struggling to find a suitable color. It is interesting that the other 2nd issue denominations do not show such a mix of colors – though the 50¢ 2nd issue color ranges from orange to cherry red. A great deal of thanks to Heritage for the use of their images. Also to the FCCB Editor, Jerry Fochtman, who is a student of these dye variations and has exhibited these varieties at numismatic shows in the past. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 433 U N C O U P L E D: PAPER MONEY’S ODD COUPLE Joseph E. Boling Fred Schwan Genuine—Sort Of A three-week exchange in the MPC Gram has reminded me of an interesting note alteration that has not been discussed in this column. It was last covered in Paper Money back in 2008, but we have new information on the subject and many additional examples. The notes involved are the 1934A and 1935A silver certificates with yellow (gold) Treasury seals that were issued for military use in North Africa and Europe during WWII. Use of the distinguishing seal variety would allow prompt demonetization of the notes should any substantial quantities fall into enemy hands. (Recall the similar objective supporting the marking of notes in the Pacific theater with the words HAWAII and brown seals, discussed here four issues back.) Circumstances calling for withdrawal of the issues never arose in either theater. In the Pacific the proscription on use of non-HAWAII notes was lifted almost a year before the war ended. In Europe, the yellow-seal notes continued to be used as Allied troops advanced first to Sicily and Italy, then to France and Germany. By the time the war ended, the soldier-specific notes had penetrated well into local economies. Civilian holders were apprehensive that the special notes could be withdrawn at any time, leaving them with notes of no value. A way to avoid this would be to make the special notes look like ordinary silver certificates—with blue seals rather than yellow ones. All other features of the special notes already matched their counterpart features on notes circulating in the US—including large blue numerals on the left ends of the $5 and $10 notes. So a cottage industry was born. Yellow seals were removed as best could be managed and corresponding blue seals were printed to replace them. No attempt was made to convert the serial numbers to ranges used in the US. It is doubtful that the perpetrators even had access to data about those ranges. But, today’s collec- See Boling page 436 USSR War Bonds In terms of land area, the Soviet Union was the largest country on earth. Politically one of the most powerful of nations, the Soviet Union was one of the principal Allies of the war—the Big Four (US, UK, China, USSR). Germany invaded the Soviet Union on 22 June 1941. Moscow, Leningrad, and Stalingrad were all attacked by the Germans. The Soviets began a counteroffensive in November 1941. The Soviet army totally expelled the Germans in 1944, at the cost of great suffering by the Russian people and reached Berlin in April 1945. When we published World War II Remembered in 1995, we included many discoveries, but the largest innovative feature was the inclusion of war finance materials of many belligerents. War bonds were of course the best-known category within the larger war finance structures. Defense bonds, war savings certificates, war savings stamps and others were included. I have used a variation of this introduction several times here in Paper Money to introduce a column on war savings. We have discussed United States and Canadian instruments and a few others. I was particularly pleased with our listings for the Soviet Union. I had found my first examples only a few years before the book was published, and the bonds for the heart of the war were spectacular. We were very fortunate to get the assistance of Alexander Basok in reading the text on the bonds and developing the listings. USSR 1940 10 rubles SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 434 Alex explained to us that these were actually lottery bonds. Redemptions were made for bonds that were randomly selected. I should have picked up on the significance of this fact. Frankly, my head was turned by the beauty of the bonds and the joy of having such innovative new listings. To my surprise, shortly after the publication of the book, we learned that coupon bonds were also issued! Obviously they were (and are) much scarcer than the lottery bonds. In the intervening years I have found only two coupon bonds: 100 and 1000 roubles, both of the 1943 issue. So, the biggest point is that we need to find more coupon bonds to round out the listings. I hope that there are some collectors out there who can fill in these spaces. fredschwan@yahoo.com. 1941 10 rubles 1946 25 rubles  1943 25 rubles    1944 500 rubles  1942 10 rubles    1945 500 rubles  1944 1000  rubles with  coupons  1943 100 rubles  with coupons  SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 435 Boling continued: -tors do have that data, and observant specialists have started to accumulate altered notes that have survived. The fact that the altered notes were created overseas has probably assisted their survival—they escaped the great silver certificate redemption of 1968. I have been gathering serial numbers of surviving notes since I found my first one (it came with a bonus—it is a late-finished face plate 86 note). I thought I was doing well to have found two of the altered $10 notes—but a Gram reader has found three. Here is the list of $10 notes for which I have images: A91119229A A92594511A A92973166A A93920599A A98376873A A99495863A A99499660A A99726529A A99839749A A99976590A Carl Bombara reports having sold an altered $10 blue-seal note. I do not have its serial number. This is the only instance I know of for the sale of a properly described blue-seal alteration. All other pieces have been cherry-picked by observant and knowledgeable specialists. To date, no $5 notes are known to me, and only one $1 note—1935A B52185100C. But, other than memorizing or carrying around the serial number ranges, is there any other way to distinguish the altered notes? It turns out that there is. See figure 1 (below) (courtesy of Peter Huntoon). Look especially at the letters “R” in Thesaur and Amer (particularly the second one). The tail of each letter “R” in the altered seal is straight and short, rather than being fat and bulbous as on the genuine seal (see figures 2 (genuine) and 3a/3b (altered)). This is a naked-eye diagnostic—you do not need magnification to see it. Some other gang took a different approach. Since $10 silver certificates did not circulate widely even in the States, perhaps they did not know that simply changing the yellow seal to blue was an effective solution. They undertook to make the silver certificate a Federal Reserve note, by changing out the yellow seal for green, adding a Fed seal at the left (after scrubbing away the large blue 10), moving the legal tender clause, adding the district numbers, and removing the blue serials completely, replacing them with green serials. They made no attempt to change the note title from “silver certificate.” Their product was not bad (figure 4), except that they used a completely incorrect font for the replacement serial numbers (fig Figure 3a above and Figure 3b below Figure 2 Genuine Figure 4 SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 436 5). You may be able to also see that they did not actually remove the yellow seal—they just printed over it. Presumably the altered note would fool another European, but it would never fool a collector today, and probably not an experienced cash handler in 1946. I doubt that they had operating serial number devices—they probably handset the type for the serials and changed them frequently, using the same digits but mixing them up. Here are the serials of the two notes for which I have images: $10 FRN B67357293C B27357292C compare to above—only two digits were changed Other numbers reported are: B27347592C B27357945C B27357294C B87357283C Note also in figure 6 the remnants of the legal tender clause and the inverted letter “N” in the inner instance of “New York.” Larry Smulczenski (whose note is shown here) posits that this indicates that the alterer’s mother tongue used the Cyrillic alphabet (which has such a letter). I think it is merely an error made by somebody working in mirror image, forgetting which way is correct. These notes are out there, folks. Find some more. Figure 5 Figure 6 SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 437 The Obsolete Corner The Bank of the Metropolis By Robert Gill As you read this article, the holidays will almost be upon us, and winter will be on its way. It has been a tough year, weather wise, here in Southern Oklahoma, and I welcome the cooler temperatures. In the next coming of months there are a few seldom seen obsolete sheets coming on the market for me to try to nab, so maybe I'll be able to report on some of them to you later. And now, let's look at the sheet from my collection I've chosen to share with you. In this issue of Paper Money, let's go to our Nation's Capital, and look at The Bank of the Metropolis. This is a nice sheet that I personally have never seen another of. On November 27th, 1813, The Bank of the Metropolis published its Articles of Association. A petition was made for an official charter, but was delayed due to the War of 1812, which was currently occupying the attention of Congress. But finally, on March 3rd, 1817, the Bank was officially chartered with an authorized capital of $500,000. It started business on January 11th, 1814. General John Peter Van Ness was elected President. By 1820, the Cashier was Alexander Kerr. Notes in circulation totaled $32,004; by 1835 this had risen to $273,407. The charter of the Bank was extended multiple times, and was considered to be one of the most important and well-respected institutions in the District. When the financial Panic of 1837 hit the country, The Bank of the Metropolis was in solid operating condition, and Bank officials assured its customers of its condition. The Niles Weekly Register of May 20th, 1837, reported: But, even after assuring the public of its solvency, just three days later, the following notice came from the same publication: "The Bank of the Metropolis, the Deposite Bank at Washington City, published the following notice on Friday the 12th inst. The Bank of Washington, also a deposite bank, published a similar notice on the same day. NOTICE. Bank of the Metropolis, May 12th, 1837. “Not withstanding the information which has reached Washington, of the suspension of specie payments by the banks of New York, as well as some of the banks of Philadelphia and Baltimore, the President and Directors of The Bank of the Metropolis, confident in their ability to fulfill all the engagements and liabilities of the Bank, have determined to continue specie payments. Satisfied of the strength of The Bank of the Metropolis to sustain its credit, the President, Directors and Cashier, have determined to pledge, and they will individually and collectively pledge, their private fortunes, for all just claims against the Institution.” By order of the President John P. Van Ness, President. George Thomas, Cashier “A printed notice of The Bank of the Metropolis, announcing its suspension, was received by the Directors, then in session, when finding itself standing alone, the Board resolved to yield to the general wish of the citizens, and close its vaults. At that moment, I understand, the Bank was amply provided to redeem its circulation to the last dollar, and was prepared to go on and redeem every note of its issue that might be presented, but the Board wisely determined that such a course would only tend to embarrass the mercantile classes, without relieving the public in the slightest degree.” SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 438 James Fargo replaced Irwin as Cashier, when on May 18th, a perjury warrant was issued for Irwin's arrest. A second warrant was issued against both Howe and Irwin for fraud. With its officers facing criminal charges, Fargo temporarily saved the Bank by reducing circulation from more than $100,000 to $25,514. Nevertheless, a local newspaper reported that the "stockholders would find it to their advantage to close the institution". Because of the stringency of the times, and very serious self-inflicted problems, The Bank of Manchester struggled thru its short life. And on November 19th, 1839, it was placed into receivership. The people of the small town of Manchester lost much, but they gained, in return for all their losses and trouble, some very valuable experience. So, there is the history behind this old bank. And, as it so often happened back then, the innocent public was left with the loss. As I always do, I invite any comments to my cell phone number (580) 221- 0898, or my personal email address robertdalegill@gmail.com So, until next time, HAPPY COLLECTING. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 439 Reviewing Books of Yore: Neil Carothers’s Fractional Money (1930) * In a well-functioning monetary system, the relationship between coin and paper currency is simply a matter of denominational convenience: small change enables low-value transactions, while paper handles bigger ones. Even when currency is backed by precious metals, the role metallic small change plays is the same. That it took the United States nearly three-quarters of the nineteenth century to get this relationship right was the subject of Neil Carothers’s distinctive volume, Fractional Money, first published in 1930. Neil Carothers (1884-1965), who earned his PhD in economics at Princeton and later headed the College of Business Administration at Lehigh University, took a distinctive approach to monetary history. Unlike other scholars and pundits who preoccupied themselves with the large, conventional topics relating to the nation’s monetary system—the gold standard, bimetallism, greenbacks, etc.—Carothers focused instead on how the United States did (and too frequently, did not) provide its economy with an adequate supply of small change. Carothers’s research revealed that America’s chronic problem with small change was hardly a technical question confined to the production of token coinage alone. Rather, it impacted aspects of the country’s paper currency as well, especially its periodic resort to “shinplasters.” While our understanding of these historical episodes of private shinplasters and public fractional currency has been vastly enlarged by subsequent research since Fractional Money appeared, Carothers’s original contribution lay in linking these disparate episodes to an underlying resistance on the part of American politicians and policy makers to recognizing that “fiduciary” small change—coinage whose metallic content was intentionally less than its face value—was a necessary and legitimate feature of the nation’s monetary system. Unlike Great Britain, which made its silver coinage fiduciary with the adoption of the gold pound in 1816, the United States did not begin this transition until 1853, when it formally demoted the entire fractional coinage to a token character. But even then, American policy makers remained stubbornly reluctant to accepting the idea that the face value of silver coins should be substantially higher than their bullion content. Instead, these officials clung to the view that such ‘debased’ coinage was a species of fraud that degraded the legitimacy of money in the public’s eye. Why and how this view persisted for so long is the thread that holds Carothers’s historical narrative together. In the colonial and revolutionary eras, Americans reckoned in British pounds and shillings but transacted in Spanish dollars according to ratios that varied from place to place. Great Britain’s failure to provide its colonies with a decent coinage necessitated repeated experiments with paper currency. During the early republic, the importance of Spanish silver for the nation’s money supply made establishing bimetallism in 1792 a practical necessity. Yet by the antebellum era, even at favorable ratios the mint proved incompetent at producing an adequate silver coinage, other than large numbers of fifty-cent pieces that languished in bank vaults. As gold discoveries displaced silver coinage at the prevailing mint ratio by mid-century, the threatened disappearance of all silver change in circulation finally compelled Congress in 1853 to reduce modestly the silver content of fractional money. But even that didn’t prevent the hoarding of silver once dollar debasement during the Civil War reached a sufficient magnitude. Again, fractional paper substitutes of both a public and private nature surged to fill the vacuum. Carothers’s account of this remains the strongest and most entertaining part of his book. Missing from the 1853 legislation was any provision for making the silver dollar a token coin. The ambiguity created by this absence reverberated into the monetary debates after the legislation of 1873. In Carothers’s telling, western silver interests exploited agrarian discontent with the money supply to push for measures (the Bland-Allison and Sherman Acts) that would bolster mint demand for silver. While Carothers’s interpretation wasn’t new, he was nonetheless distinctive in insisting upon the utter uselessness of the silver dollar. Neither a monetary standard nor a convenient token coin, “the millions in the vaults are merely an undigested mass of stamped metal, of discreditable history and no present use (p. 285).” Appearing in 1930, Fractional Money quickly established Neil Carothers as an authority on the various silver schemes that were once again circulating during the Great Depression. Throughout that decade, Carothers stepped forward as a forceful opponent of monetizing silver. To Carothers, history showed how efforts to revive silver as a monetary, rather than merely fiduciary, metal, from the Bland-Allison and Sherman Acts of the late 19th century to the Pittman and Silver Purchase Acts of his era, only served to line the pockets of private interests at public expense. *Fractional Money: A History of the Small Coins and Fractional Paper Currency of the United States (New York: John Wiley & Sons, 1930). Chump Change Loren Gatch SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 440 The front of the Type-40 Treasury note endorsed by P. (S.?) B. Bird. image: Pierre Fricke Maj. Pickens Butler Bird Commander, 6th Florida Battalion The vast majority of military endorsements on interest-bearing Confederate Treasury notes represent Quartermasters and Commissaries of Subsistence, but we occasionally find an endorsement of an infantry officer acting in one of these roles. Their stories are usually interesting and sometimes tragic. Quartermasters, Commissaries, Surgeons, Agents, Paymasters, Military Store Keepers, and Engineers normally worked behind the front lines, and while they died of disease (the most common cause of death in the war), the mortality rate of the 245 such men known to have endorsed these notes was only 2%. In stark contrast, the mortality rate of the 25 infantry officers and enlisted men known to have endorsed these notes was 12%. Maj. Pickens Butler Bird died leading his regiment in the Confederate defense at Cold Harbor in 1864. The National Archives have thirty-five documents for Peckins (sic) B. Bird in the files for the State of Florida, Second Battalion Florida Infantry, accessed on Fold3.com. The endorsement reads: “Issued Oct 21st 1862 P(S?) B Bird” The Quartermaster Column No. 27 by Michael McNeil The endorsement of P(S?) B. Bird. image: Pierre Fricke SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 441 1862 This endorsement was known for years to the Trainmen, a group who specialize in these notes, but the identification of this officer was elusive. Interpretations of the first initial in the endorsement were confusing, and a search of Wyllie’s list of Confederate officers listed a Major in the 6th Florida Battalion, but this unit does not appear in the files for the State of Florida in the National Archives.1 The breakthrough in the identification occurred when a listing was found for Peckins (sic) B. Bird in the files for the State of Florida, Second Battalion Florida Infantry. Pickens B. Bird, aged 29 years, enlisted for the duration of the war on August 8th at Monticello, Florida, and was elected as Captain of Company A, 2nd Battalion (Brevard’s) Partisan Rangers. This unit would subsequently become Company D of the 2nd Battalion Florida Infantry. On September 2nd Bird signed a voucher for mileage between Lake City and Tallahassee, Florida. In November of 1862 he was stationed at Camp Finegan and on detached service attending a court martial. 1863 On January 17th Bird was paid $619.66 for the period from August 8th to December 31st, 1862. On January 18th Bird signed a special requisition at Lake City, Florida, for clothing for 100 men, 100 caps and 100 pairs of shoes, noting that “the company [was] without shoes and caps.” On May 29th Bird signed a requisition for 50 pairs of shoes, and he signed a special requisition for tents, spades, and axes at Tallahassee, Florida, on August 11th. In September Bird was absent on a sick furlough. A roll dated the same month located his unit at Lake City, Florida. A roll dated November located the unit at Tallahassee, Florida, and serving with the Department of East and Middle Florida, commanded by Brig. Gen’l Jos. Finegan; Bird was still noted as a Captain at this time. 1864 The website familysearch.org states that some of the companies of the Florida 2nd Battalion Partisan Rangers merged into the 10th Florida Regiment, and the National Archives files bear this out with five documents for P. B. Bird in the files for the Tenth Infantry. This website also corrects the spelling of his name listed in the National Archives from Peckins B. Bird to Pickens Butler Bird. A roster of the 10th Infantry dated February 1865 corroborated Bird’s enlistment in the 2nd Battalion and noted that he was promoted on September 5th, 1863, [to Major, retroactively] reporting to the “10th Florida Regiment, Finegan’s Brigade, Mahone’s Division, 3d (A. P. Hill’s) Corps, Army of Northern Virginia; organized June 11th 1864, mustered into service...2d Fla Batt’n Aug. 14, 1862; Term, War.” A document was signed on February 19th by Maj. P. B. Bird for ordnance and ordnance stores. The signature is similar to those found on other documents in Bird’s files, but the title of Major is new and the unit is now named the 6th Battalion Florida Volunteers, which corroborates Wyllie’s list of officers. There are no entries for a 6th Battalion in the National Archives files for Florida, but this website: battleofolustee.org/6th_fl_inf.html sheds considerable light. This website states that in May of 1864 the War Department requested Gen’l Patton Anderson, commanding the District of Florida, to send a brigade to Richmond. Brig. Gen’l Joseph Finegan was sent with his brigade, which included the 6th Florida Battalion. They joined Hill’s Corps at Hanover Junction, Virginia, on May 28th. “The unit participated at the Battle of Cold Harbor [May 31st to June 12th], where Major Pickens Bird was killed.” After Cold Harbor, Finegan’s Brigade consisted of the 2nd, 6th, 8th, 9th, and 11th Florida Regiments. A website for P. B. Bird is managed by R. Owen Wyant at www.geni.com/people/Col-Pickens- Butler-Bird-CSA and states that Pickens Butler Bird was born circa January 12th, 1833, and died June 6th, 1864. He is buried at Richmond, Virginia. This website lists him at times as a Colonel, while all other sources in the National Archives list his final rank as Major. Of interest in this website is a letter written by Capt. James F. Tucker to Daniel B. Bird, the son of P. B. Bird: Mr. D. B. Bird, Jr. [D. B. Bird, Sr. was P. B. Bird’s father], Monticello, Florida My Dear Sir: Your esteemed favor asking the facts concerning your father’s death received. It affords me a mournful pleasure to comply with your request, and I will be most happy if in anyway I can contribute to your mother’s desire. As to your father's death and the manner of it there can be no doubt or uncertainty. He fell in the performance of duty at the post of danger, I may say leading a “forlorn hope” and acquitted himself most nobly as became a brave Confederate soldier. These facts are known to a crowd (?) of witnesses - his comrades, who SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 442 watched his daring charge and saw his untimely fall. Well do I remember the day, one of the most eventful of my life. It was on the 3rd day of June, 1864, at the Second Battle of Cold Harbor where the genius of Lee again baffled and defeated the persistence of Grant. The circumstances were about at follows. Under cover of the early dawn of day, the enemy assaulted and captured a part of our line - held by General Breckenridge’s Division - to which we were acting as a Reserve. Our brigade had bivouacked upon the ground, and the charging troops of the enemy were almost upon us before General Finegan could get his men into line and ready to repulse them. But our men responded promptly and moved with such alacrity as to “sweep the enemy before them like a whirlwind,” as was described by Georgia’s great war correspondent, P. W. A. We had recaptured and reoccupied our entrenchments, but the enemy’s sharpshooters still occupied a line of rifle pits covering our front, from which they kept up an annoying and deadly fire. About 10 o’clock in the morning it was determined to make an effort to recover them. A detail from the Brigade was made and Major Bird ordered to command it. At the word, they all leaped over the breastworks and started at a run. As they did so, the enemy received them with a destructive fire, both from the rifle pits and their main line, resulting in the killing and wounding of nearly every man who composed the detail, among them your gallant and heroic father. My eyes were upon him from the moment he started up that desperate charge until he fell, pieced by two bullets. In less time than I take to write it, in response to a mute appeal which I can never forget, I jumped over the breastworks and ran to his assistance. I had just reached his side and was in the act of lifting him up when I too was shot down. About the same time, Lieutenant Lane of our battalion (the 6th Florida) came out on the same mission and met the same fate, the poor fellow dying from his wounds some days afterward. Still another ventured a rescue, and he was also shot down. Later on, when the murderous fire had slackened a little, Sgt. Bryan of my Co. “D” came to my assistance and two others whose names I cannot now recall to your father’s and by hugging the ground fairly dragged us inside our works, a little way at a time, as the lull in the enemy’s fire would allow them to move. After getting inside the breastworks we were compelled to lie there all day and far into the night, before the furious fire would admit our removal, and even then after we had started, the litter bearers were once or twice compelled to drop their burdens and lie prone upon the ground to protect themselves from the deadly missles (sp) that filled the air. After halting a while at the field hospital, where we received the first surgical attention since being wounded twelve hours before, we were carried to the corps hospital where we were kept until ambulances could be had to convey us to Richmond. We were placed in the Howard Grove Hospital, which was under the charge of Dr. T. M. Palmer, with Dr. Babcock, late of Jacksonville, as his assistant. Mrs. M. M. Reid, was there as a ministering angel doing all that woman could and what only woman can do - to soothe, comfort and console the wounded, whose name was legion. Mrs. D. Palmer was there also, thus your father fell into the hands of skillful surgeons and kind and sympathetic friends; but alas, his Maj. Pickens Butler Bird image: www.geni.com/people/Col-Pickens-Butler-Bird-CSA, from Odis D. Kendrick, through Bill Cudlipp, Annuttaliga Farm, Brooksville, Florida, April 2nd, 1892. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 443 wounds were mortal. The surgeons’ art, nor the tears and prayers of woman, availed him naught. We were placed in the same ward and upon cots only a short distance from each other, I could see and hear all that took place. He was deeply concerned for his fate but realized his awful condition, and when informed there was no hope set himself about making preparations for the end, which could no long be deferred. There were religious devotions and sending of word of love and a sad farewell to his wife and children far away, and who would never again see him in this mortal life, and finally calling all to witness that he died an honorable and manly death as a Confederate soldier in the performance of his duty in defense of his country; still in his sore extremely thinking of home and family and making such arrangements as his weak and exhausted condition would admit of. With a prayer up his lips, he died a soldier’s death and passed to a soldier’s reward, on the 5th day of June, 1864. Such was the fall and death of your honored father, Major Pickens B. Bird – as generous a soul, as brave a man, and as gallant a soldier as wore the Confederate uniform, and more than that could not be said of any many. In his patriotic endeavor, a faithful service and noble death his wife and children possess a legacy sealed by the heart’s blood of one of nature’s nobleman. I trust you will pardon the intrusion of myself into this true story of a . . . [The letter ends here... some is missing. Major Pickens B. Bird is buried in the Hollywood Cemetery, Richmond, Virginia.] A painful lesson in the pitfalls of research After finishing the first draft of this column I grew more skeptical of the identification. I had rushed to a conclusion and previously announced this discovery to the Trainmen, a group to which I belong. I must confess that I bought this Treasury note for $600.00 when I had decided that it was endorsed by Maj. P. B. Bird, and such is human nature that I ignored some of the warning signs in my effort to believe I had found a new officer. The first initial of the endorsement looks more like an “S” or an “L,” and I had simply shoe-horned this endorsement into “P. B. Bird.” A quick check in the file for Confederate Civilians located a single voucher for $150.00 paid to S. B. Bird for the purchase of a horse on December 15th, almost two months after the issue date of the note. The signature of S. B. Bird on the illustrated voucher is stylistically very consistent with the endorsement on the note. So I hereby correct my error and exhibit it as an example of impulsive errors in research. There were two important warning signs that I ignored: the signature of Bird is not in the same hand as the statement of issue, and there is no rank and/or title. We do have rare examples like this which turned out to be military officers, but we also had excellent matches in the signatures on supporting documents. Endorsements by civilians are very common. They likely endorsed these notes as they spent them, much as we endorse checks today. The endorsement of S. B. Bird is one of only two known examples, the other serialized four higher with the same plate position letters. The effort to record the history of Maj. P. B. Bird was not in vain. With this research you have a front-row seat and an eyewitness account of the Battle of Cold Harbor. ◘ Mea culpa References: 1. Arthur Wyllie. Confederate Officers, self published in PDF format, 2007. Primary source: Journal of the Confederate Congress 1861-1865, Senate Document #234, 58th Congress, 2nd Session. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 444 A document in the National Archives files for Confederate Civilians, for S. B. Bird. The document is a voucher for the payment of $150.00 to S. B. Bird on December 15th, 1862, for the purchase of one horse by a Quartermaster. The signature of S. B. Bird, noted by the red arrow, is stylistically consistent with the endorsement on the Treasury note. S. B. Bird, a civilian, did not issue the Treasury note but simply endorsed it. A signature of Maj. P. B. Bird is shown in the inset for comparison. image: Fold3.com A signature by P. B. Bird, Major Com(ma)nd(in)g the 6th Batt(alion) Fl(orid)a Vol(unteer)s, on a document in the National Archives. image: Fold3.com SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 445 Robert Calderman “Break out the Bell Bottoms! When you think back on the 1970’s does your mind instantly recall specific paper money rarities produced within the decade? Probably not! My brain thinks of disco dancing, epic 70’s rock, the Cold War, and the infamous kingpin of cocaine Pablo Escobar. Completely under the radar during this era, was Hiram Ulysses Grant’s portrait of sharply chiseled strength appearing on a very special issue of fifty-dollar Federal Reserve Notes. “Fifty” years ago, the series of 1969B produced only six districts of regular issue fifties and a single district of star notes! Delivered to the Federal Reserve beginning in the fall of 1972 through the end of 1973, these fifty-dollar bills are arguably some of the toughest notes to find in uncirculated condition in the modern post 1950 era. As is so often the case, notes of this time period were not saved in quantity especially the high denomination $50’s and $100’s. Here is a great piece of trivia you can use to stump your fellow paper money friends. Series of 1969B C-Notes were never produced! The signature combination of Treasurer Romana Acosta Bañuelos and Secretary of the Treasury John B. Connally never appear on the one-hundred-dollar bill. The fifty-dollar 1969B issue was the highest denomination to feature these two signers together! Just over 7.4M 1969B $50 notes were produced encompassing all six districts along with 128,000-star notes solely found on the Dallas district. Of the six regular districts printed, Atlanta is by far the key to the series with the lowest printed production of only 512,000 notes. When it comes to rescuing notes from circulation and saving them for the collecting community, the sum of fifty dollars still retains a significant amount of buying power. These days, it is extremely uncommon for original packs of high denomination notes from any series prior to the 1990's to magically appear in the wild. According to mighty modern Google wizardry, a single series of 1969B fifty-dollar bill, first delivered in September of 1972, has a value of roughly $354.27 in today’s 2022 dollars! No wonder these notes were not saved in mass quantities for future collectors! Even today with a morning caffe latte currently exceeding $10 in many Las Vegas casinos, a fifty-dollar bill can still feed you happily for a full day, provided you SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 446 are not pursuing champagne wishes and caviar dreams! Consequently, fifties still to this day have a noticeably limited collector base. It is completely understandable that the majority of collectors more often gravitate toward collecting $1’s, $2’s, and $5’s within the small size realm. There is an apparent psychological disconnect with wrapping one’s head around amassing modern fifties for sport and compiling them into a collection rather than saving them in a more civilized manner to later circulate throughout the infinite land of commerce. It takes a very focused and dedicated collector who is more concerned with beauty, rarity, and the epic thrill of the hunt vs. the price of admission to be willing to take on the challenge of these mighty fifties. We find so frequently in the paper money category that an endless budget does not give you the power to instantly acquire and assemble the set of your choosing. This is absolutely the case with the note featured in this installment of Cherry Picker’s Corner. The series we have been focusing on has very few notes reaching the lofty heights of Gem 66 and above. At PMG the entire tally of non-stars on all six districts combined reaching the mountain top of 66 or better totals in at only six individual notes! Shock and awe struck a dedicated collector recently as a truly amazing high grade Atlanta example in 66EPQ was unearthed at this year’s summer ANA Chicago World’s Fair of Money! On the key “F” district, only one note has ascended to this peak plateau, and it is the note you see here! In fact, for all uncirculated grades PMG has only certified (1) 66EPQ and (1) 65EPQ with nothing else holdered above extremely fine 45! In all grades only nine examples of Fr.2116-F have been graded by PMG. If your current goal is to assemble a complete six-note district set of 1969B $50’s all in 66EPQ you will have to wait because all districts do not currently exist at this grade level! So, what is the note featured here in this article actually worth? $2,000 / $3,000 / $5,000… no one knows! This single finest note has never sold at public auction and value can only be determined between the future buyer and seller. The example one rung below graded 65EPQ has sold twice in recent years most recently in 2014. Heritage Auctions handled the 65EPQ Thomas M. Flynn attributed example which realized $1,527.50. Previously at the height of the market in 2008, the same note sold again through Heritage Auctions for $2,185.00. The note nearest in grade at 45EPQ brought a very significant $575 also at HA in 2007. A massive sum for a circulated non-star fifty produced in the 1970’s! Hopefully, this installment has opened your spectrum of vision just a bit into uncharted territory and made you consider the potential high caliber value of small size notes that can very easily be overlooked by both the casual collector and dealer. Who knows, maybe you will be the serendipitous groovy soul that finds the very first superb example of this Atlanta fifty-dollar disco era rarity! Do you have a great Cherry Pick story that you’d like to share? Your note might be featured here in a future article, and you can remain anonymous if desired! Email scans of your note with a brief description of what you paid and where it was found to: gacoins@earthlink.net. 447 $MALL NOTE$ By Jamie Yakes Spectacular $1 1935A Backplate 2 T-A Block In a follow-up to a recent article1 about $1 back plate 2 comes this wonderful mule with a T-A block serial (see accompanying photo). The note has Series of 1935A macro face 358. Collector Corey Reynolds bought the note unaware of its significance. He now has a great addition to his collection. For the details on backplate 2, I refer you to the article above; here, I will present only a summary. One-dollar backplate 2 was certified in August 1935 and used on press for four days that month only with $1 1935 faceplate 2. None of those sheets were numbered, and all were destroyed. Officials then displayed both plates in the lobby of the Treasury building until April 1938. That month the display was dismantled and backplate 2 sent to the plate vault for use on the production floor. It had press time from April to October and was canceled on October 25. Backplate 2 went into service shortly after the Bureau of Engraving and Printing started using Series of 1935A $1 macro faces (in service in January 1938) and $1 macro backs (initial use in March). Series of 1935 $1 micro faces and micro backs had been in use and would remain so for a few more months. Sheets from back 2 got face printed with Series of 1935A and possibly 1935 faces. Series of 1935 faces were relegated to separate presses from 1935As because the 1935A sheets required a separate step to overprint the series dates and signatures. The 1935 sheets already had imprinted series dates from the intaglio printing step. It’s fair to assume sheet piles with back 2 were routed to presses containing faces of each type. Serial numbers used on $1s during back 2’s press time were from the N-A, P-A, Q-A, R-A, S-A, and T-A blocks. Those six blocks were completed from March 8 to November 18, 1938. Sheets of $1 backs moved fast and all back 2 notes should have those serials. The BEP began numbering U-A serials on November 28, and it’s possible completed $1 sheets with back 2 were still around. Keep your eyes open. Sources Cited 1. Yakes, J., and P. Huntoon, “Treasury Building Display & 1935 $1s without officer titles & 1935A $1 mules from back plate 2.” Paper Money 61, no. 4 (2022, Jul/Aug): 269 References Record Group 318-Bureau of Engraving and Printing: Entry P1, “Ledgers Pertaining to Plates, Rolls and Dies, 1870s-1960s,” Containers 43 and 147. National Archives and Records Administration, College Park, Maryland. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 448 The Aristocracy of the Confederate Note Signers by Michael McNeil harles Derby graciously invited me to co- author his new book, Confederate Treasury Notes, The Signers and Their Stories, but I must be clear that he accomplished nearly all of the work in this book.1 We leveraged material from one of my earlier books, and I simply got out of his way. Derby has documented not only the history of the Confederate Treasury Department in great detail, he has also researched the lives of the 371 women and men who signed more than 78 million Confederate Treasury notes. The signatures on each note were not printed as they are today, they were hand-signed. My great-great-grand-mother was one of them, signing more than a half million notes from May 1864 to February 1865. While I take great pride in my ancestors, my understanding of Confederate history has evolved over the last decades with new research in psychology and evolutionary biology. Derby’s research makes a fascinating read of the lives of the people who worked in the Confederate Treasury Department, some heroic and some tragic. Perhaps more importantly to collectors of these Treasury notes, Derby has corrected a great many errors in the names of the signers listed in Raphael Thian’s Register of the Confederate Debt.2 Corrected lists of the signers for the Register and for the Treasurer as they most commonly appear on the notes are included in the new book. The lives of the signers give us a window into the culture of the South. We would recognize them today as good citizens. They were intelligent, very well educated, resourceful in a difficult economy, and dedicated to their work to aid the Confederate cause. Slavery was not the main concern of their lives ― it was taken for granted (Derby found that at least one signer was very critical of slavery). Let there be absolutely no doubt that the South seceded from the Union to preserve its economic engine of slavery. Charles B. Dew has demolished the fiction that the South seceded to preserve Lost Cause notions of states rights. Dew found that soon after South Carolina seceded, its legislature appointed what were called Southern Secession Commissioners, and in late 1860 and early 1861 they served as ambassadors to the legislatures of other Southern states to join them in secession. The Commissioners’ speeches were printed in Southern newspapers, providing a public record; the argument for secession in all of these speeches was the preservation of Southern slavery.3 The signers were members of the Southern aristocracy. In a letter of May 6, 1865, about a month after Lee’s surrender at Appomattox, the Treasury note signer Mary Darby related her family’s plight, “...most of the families having moved to the plantations, not being able to afford the luxury of two homes.”4 These luxuries, and the time available for them to pursue an aristocratic life of leisure, were enabled by their slaves. The daughter of Treasury note signer Monimia F. Cary wrote, “My mother, with a number of ladies, took a situation to sign bank- notes (sic) in the Treasury Department. ...she daily met gentlewomen, in whose veins ran the purest currents of cavalier and Huguenot blood. The names written upon those banknotes might have served to illustrate the genesis of Southern aristocracy.”5 I have at least two direct Southern ancestors from this aristocracy. The Taliaferro family (pronounced “Tolliver”) was famous for its influence in the South and its fierce defense of slavery. The Taliaferros emigrated to America at the time of Cromwell’s revolution against the English monarchy and wealthy aristocracy; my Taliaferro ancestors brought Scottish slaves with them to Virginia. My Pelot ancestors were among the Protestant Huguenot founders of the Baptist Church. I am descended from the Treasury note signer Sarah Elizabeth Pelot, the wife of Stephen Elliot Pelot, who in turn was descended from Rev. John Francis (Jean- François) Pelot, an emigrant from La Neuveville, Switzerland to South Carolina in 1734. The Reverend Pelot prospered in America, and despite his religious title, he not only owned slaves, he sold them as well. Here is the text of an advertisement he placed in the South Carolina Gazette, which ran from December 26, 1761, to January 2, 1762: To be held by the subscriber, to the highest bidder, at Mr. Nightingale’s up the path, on Tuesday the 19 th inst. if a fair day, if not on the next fair day after, at 10 in the morning. ABOUT thirty Negroes, mostly this country born, among whom, a very good cooper, a carpenter, sawyers, a tanner, boatmen, several cook-wenches, washer- C SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 449 women and seamstresses, handy boys &c. Credit will be given, and the terms made known on the day of sale. FRANCIS PELOT 6 In the 1950s my grandmother, Flora Nelle Pelot McNeil, proudly gave me a Confederate Treasury note signed by her grandmother, Sarah Pelot. How do I reconcile my family history of slave owners with my wonderful memories of my grandparents? We need to take a deep dive into American culture to understand this. Acknowledging my debt to Winston Churchill, I will explore the lessons of Southern Civil War history, and why we continue to repeat it.7 Are we a liberal democracy or a republic? The dictionary definition of liberalism places an ultimate value on individual freedom, a philosophy deeply embraced by both modern political parties. The dictionary definition of republicanism (very distantly associated with the current political party of that name) places an ultimate value on the common good and regulates individual freedom when it harms the common good. This is what Benjamin Franklin had in mind when asked what form of government the Constitutional Convention had given us, and reportedly replied, “A republic, if you can keep it.” Regulation for the common good is a rarity Thomas Jefferson was distrustful of human nature and in 1787 said, “God forbid we should ever be 20 years without such a rebellion [the 1776 Revolution].”8 The periods in American history in which our government strongly regulated individual and corporate behavior for the common good have been brief rarities, testimony to Jefferson’s and Franklin’s fears. The cultural shock of the Civil War gave us the Republicans Lincoln and Grant, both of whom were deeply dedicated to the notion of a well- regulated republic. Theodore Roosevelt was the last Republican who fully embraced that notion, and his presidency was an accident, the result of the assassination of President McKinley. The four-term presidency of Franklin D. Roosevelt (a distant cousin of Theodore) was the only instance in which the Democratic Party fully embraced the ideal of a regulated republic, and it also appeared during a shock ― the Great Depression. In 1860 Democrats embraced outright slavery. In the decades that followed, Democrats embraced sharecropping and Jim Crow laws, cruel forms of economic slavery. In 1913 Democratic President Woodrow Wilson re- segregated Federal offices, reversing the reforms of Lincoln and Grant.9 Following the lead of Republican Ronald Reagan in 1980, both political parties de- regulated American capitalism, off-shored millions of jobs, and birthed a new American aristocracy.10 The power of capitalism Current received wisdom believes that individuals and capitalism will self-regulate. Franklin D. Roosevelt’s economist, John Maynard Keynes, took a very dim view of this idea, and reportedly quipped, “Capitalism is the extraordinary idea that the most evil of men with the most evil intentions will somehow work for the common good.” Exponential growth in capital profits requires exponential growth in the population to produce and buy its products. Are there ultimate limits to such growth? Economists believe that the Earth’s resources can support about 1.5 billion people at a high standard of living.11 Today the Earth’s population has grown to 7.8 billion people competing for Earth’s finite resources. In the United States “the population will grow from 325.5 million today to 403.7 million by 2060 ― and 96% of that increase of 78 million people is due to the current high level of immigration.”12 For the last four decades both political parties have served corporate interests, among which cheap labor is a primary concern. Paul Jefferson Davis invoked the primary liberal value of individual liberty to justify the preservation of Southern slavery. Image courtesy of Heritage Auctions, HA.com. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 450 Krugman, the Nobel Laureate economist, notes that “...immigration reduces the wages of domestic workers who compete with immigrants. That’s just supply and demand: we’re talking about large increases in the number of low-skill workers relative to other inputs into production, so it’s inevitable that this means a fall in wages.”13 The immigration of high-skill foreign technical workers on H-1B visas, a program strongly supported by both political parties, also produces an inevitable fall in middle-class, high- skill engineering wages. “Who will do the work nobody wants?” When English aristocrats fled Cromwell’s revolution to establish tobacco and cotton plantations in the United States, they soon realized that the labor to support those plantations required grueling work in a hot, humid climate, the labor nobody wanted for low wages, and they imported slaves from Africa. Our corporate aristocracy today promotes open borders, refusing to pay livable wages for hard manual work. The difference between the wage of a McDonalds employee in America and the $22 per hour McDonalds pays its workers in Denmark amounts to only 27 cents per hamburger, “the price of dignity.”14 A capitalist aristocracy drove the explosive growth in slavery in the United States up to the Civil War, and it is driving the explosive growth in immigration today. Aristocratic acceptance of a slave class Why would good Confederate citizens support an economic system based on slavery? Superficially, the answer is that most of us just have to make a living. A deeper explanation was identified by Hannah Arendt when she researched the causes of the Holocaust. When interviewing Adolph Eichmann just before his execution, Arendt was struck by the decency of Eichmann’s personality. He neither looked nor sounded like the monster he was. Arendt coined a term for this, “the banality of evil.” Her insight is that evil is often commonplace and taken for granted. This well describes Southern attitudes in 1860 about slavery, and it equally describes our current culture, which accepts what clearly amounts to economic slavery: 41.7 million American workers earn less than $12 per hour (31% of the labor force).15 Acceptance of an economic slave class runs deep in human nature. The Reverend Martin Luther King came to the conclusion that racism would only be eliminated when African Americans achieved wealth equality.16 Our current culture identifies racism in nearly all areas of human endeavor, signaling great virtue, but legislates nothing of substance to alleviate wealth inequality. The roots of cultural behavior Robert Plomin, an American psychologist working for the British government, performed a 25- year study in the United Kingdom of 10,000 fraternal twins (different genes) and biological twins (identical genes), following them from infancy into early adulthood, and sorted them into those who were raised by their biological parents and those who were adopted and separated at birth. He proved beyond any reasonable doubt that genes are dominant in human behavior.17 This is an uncomfort- able truth for many of us who have believed that nurture is more important than nature, but bear with me, it helps us get to the root of the acceptance of a slave class. Edward O. Wilson, the internationally renowned evol- utionary biologist, has also shown that behavior is affected by genes. He specialized in some of the very few species which are socially organized, among which are ants and humans. Wilson identified two different types of human behavior: altruism (a cooperative behavior), which he named a “virtue,” and selfishness (a competitive behavior), which he named a “sin.” These behaviors are expressed by our genes, and they are exhibited in individuals in varying degrees. The dominance of cooperative or competitive genes in a whole culture, however, may determine whether a culture succeeds or fails. Wilson explains this: Within groups selfish individuals beat altruistic individuals, but groups of altruists beat groups of selfish individuals. Or, risking oversimplification, individual selection promoted sin, while group selection promoted virtue. So it came to pass that Robert J. Plomin.23 Edward O. Wilson, 1929-2021.24 SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 451 humans are forever conflicted by their prehistory of multilevel selection. They are suspended in unstable and constantly changing positions between the two extreme forces that created us. We are unlikely to yield completely to either force as the ideal solution to our social and political turmoil. To give in completely to the instinctual urgings born from individual selection would be to dissolve society. At the opposite extreme, to surrender to the urgings from group selection would turn us into angelic robots – the outsized equivalent of ants.18 Americans of all political beliefs today agree that our society is close to dissolution. Did selfish genes dominate in the Southern Civil War aristocracy? The great Texas statesman, Sam Houston, appears to have thought so. Here is his appeal against secession on April 19, 1861: Let me tell you what is coming. After the sacrifice of countless millions of treasure and hundreds of thousands of lives, you may win Southern independence if God be not against you, but I doubt it. I tell you that, while I believe in the doctrine of states rights, the North is determined to preserve this Union. They are not a fiery, impulsive people as you are, for they live in colder climates. But when they move in a given direction, they move with the steady momentum and perseverance of a mighty avalanche; and what I fear is, they will overwhelm the South.19 Houston had no knowledge of modern genetics, but he sensed its presence in the implied cooperative attitudes of the Northern population in their “colder climates” and their “steady momentum and perseverance.” He sensed the expression of Southern selfish genes as a “fiery, impulsive people.” Texas seceded in spite of Houston’s prescient advice. Before he became a famous Union general and burned the Confederate Treasury Note Bureau in 1865, William Tecumseh Sherman spent 1859 to 1861 as the superintendent of a military academy in Baton Rouge, Louisiana. His description of Southern aristocratic behavior echoed Houston’s, where he described the pure selfishness of the “young bloods of the South,” the sons of planters, lawyers about town, good billiard players and sportsmen, men who never did any work and never will. War suits them, and the rascals are brave, fine riders, bold to rashness, and dangerous subjects in every sense. They care not a sou for n[egroes], land or any thing. They hate Yankees per se, and don’t bother their brains about the past, present or future. As long as they have good horses, plenty of forage, and an open country, they are happy ... and they are the most dangerous set of men that this war has turned loose on the world. They are splendid riders, first- rate shots, and utterly reckless. These men must all be killed or employed by us before we can hope for peace.... At present horses cost them nothing; for they take where they find, and don’t bother their brains as to who is to pay for them; the same may be said of the cornfields, which have, as they believe, been cultivated by a good- natured people for their special benefit.20 This quotation well illustrates a selfish and entitled Southern aristocracy, and it implies a more cooperative, “good-natured” behavior in the yeoman farmers who grew those cornfields. Regulating behavior for the common good To state the obvious, the range of human behavior is vast and it needs to be regulated when it harms the common good. Without this regulation, a society will dissolve. The American notion that all individuals will self-regulate from an assumed universal good inner nature is demonstrably false, but Americans invoke that notion to avoid regulation in the name of individual freedom. The American acceptance of self-regulated individual freedom, more than any other factor, explains why good governance in the United States is such a rarity, and why we accept an economic slave class. Examples of a common good would include universal healthcare, regulation of immigration to protect the wages of citizens, and progressive taxation to redistribute wealth. The top tier income tax rate from 1944 to 1963 was an astounding 91% to 94%.21 This period was governed by the legacy of Franklin D. Roosevelt’s well-regulated republic, and it was a time of great economic expansion with very low wealth inequality. The banality of evil in aristocracies The members of our aristocracy today see themselves as good citizens. Like their Southern predecessors, they are intelligent, very well educated, resourceful in a difficult economy, and dedicated to Sam Houston, 1793-1863, seventh Governor of Texas.25 SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 452 their causes. Wealth inequality is not the main concern of their lives ― it is taken for granted. The real force behind slavery was Southern capitalism, and as Yuval Noah Harari has dryly noted, capitalism has no conscience.22 Capitalism rewards selfishness and punishes altruism if it impedes profits; it is the breeding ground of selfish aristocracies. The aristocracy of the Old South went to war to preserve its slavery. To what lengths will our present aristocracy go to preserve our explosive immigration? We comfortably point to slavery in the Old South as a distant history, but it is also a distant mirror. Modern forms of this evil are commonplace in our culture today. What shock will it take to make us notice? Notes and References 1. Derby, Charles, and McNeil, Michael. 2022. Confederate Treasury Notes, The Signers and Their Stories, CCCA, Mead, CO. $49.95, email: charlesderbyga@yahoo.com. 2. Thian, Raphael. 1880. Register of the Confederate Debt, 1972 reprint, Quarterman Publications, Lincoln, MA. 3. Dew, Charles B. 2001 and 2016. Apostles of Disunion, Southern Secession Commissioners and the Causes of the Civil War. University of Virginia Press, Charlottesville. 4. de Treville, Mary Darby. 1907. Extracts From Letters of a Confederate Girl to a Cousin in Virginia, from 1860 to 1866. Pp. 176-193, in South Carolina Women in the Confederacy. Records Collected by the Committee from South Carolina State Division, United Daughters of the Confederacy. Volume II. 1907. Edited and published by Mrs. James Conner, Mrs. Thomas Taylor, Mrs. A. T. Smythe, Mrs. August Kohn, Miss Mary B. Poppenheim, Miss Martha B. Washington, and Mrs. Berwick Legare. State Committee Daughters of the Confederacy. The State Company, Columbia, South Carolina. 1907. archive.org/details/cu31924092461403/page/n7/mode/2up 5. Hughes, Nathaniel Cheairs Jr., and Rushing, S. Kittrell. 2011. Refugitta of Richmond. The Wartime Recollections, Grave and Gay, of Constance Cary Harrison. University of Tennessee Press, Knoxville. 6. Tortora, Daniel J. 2013. From Purrysburg to Prosperity on the Southern Frontier: Francis Pelot of South Carolina, 1720- 1774, Swiss American Historical Society Review, Vol. 49, Number 1, Article 2. 7. Churchill, Winston. 1948. “Those who do not learn history are doomed to repeat it,” from an address to the British Parliament, and paraphrasing George Santayana, who said in 1905, “Those who fail to learn from history are condemned to repeat it.” 8. Jefferson, Thomas. 1787. In a Letter to William Stephens Smith, Son-in-law of John Adams. https://www.monticello.org/research-education/thomas- jefferson-encyclopedia/tree-liberty-quotation/, accessed September 12, 2022. 9. Wilson, Woodrow. 1913. https://en.wikipedia.org/wiki/Woodrow_Wilson, accessed 13 September 2022. 10. The Republican Party legislated the North Atlantic Free Trade Agreement (“NAFTA”) and Democratic President William J. Clinton signed it into law in late 1993, gutting the middle class. https://thebalanceofmoney.com/disadvantages- of-nafta-3306273. President Clinton signed the repeal of the Glass-Steagall Act in 1999, Franklin D. Roosevelt’s signature legislation to regulate banks and investment houses. The repeal of this act was a major contributing factor in the 2008 Great Recession. https://thebalanceofmoney.com/glass-steagall-act-definition- purpose-and-repeal-3305850 11. Hwang, Andrew D. 2018. 7.5 Billion and Counting: How Many Humans Can the Earth Support?, https://britanica.com/explore/savingearth/, accessed 20 September 2022. 12. Center for Immigration Studies. 2018. Five Ways Immigration-Driven Population Growth Impacts Our Environment, https://cis.org/Immigration-Studies/Five- Ways-ImmigrationDriven-Population-Growth-Impacts-Our- Environment, accessed 20 September 2022. 13. Krugman, Paul. 27 March 2006. The New York Times. https://archive.nytimes.com/krugman.blogs.nytimes.com/20 06/03/27/notes-on-immigration/ 14. Kristof, Nicholas. 2020. McDonald’s Workers in Denmark Pity Us, New York Times. https://www.nytimes.com/2020/05/08/opinion/sunday/us- denmark-economy.html. 15. Oxfam. 2022. Few Rewards. https://oxfamamerica.org/explore/research-publications/few- rewards/, accessed September 12, 2022. 16. King, Martin Luther, Jr. 1958. “I had also learned that the inseparable twin of racial injustice was economic injustice,” My Pilgrimage to Nonviolence, New York. https://kinginstitute.stanford.edu/king- papers/documents/my-pilgrimage-nonviolence. 17. Plomin, Robert. 2019. Blueprint, How DNA Makes Us Who We Are. The MIT Press, Cambridge, Massachusetts, paperback edition with a new Afterword, and with observations on meritocracies, pp. 97-105 and 227-228. See also: https://www.kcl.ac.uk/people/robert-plomin 18. Wilson, Edward O. 2014. https://themarginalian.org/2014/11/04/e-o-wilson-the- meaning-of-human-existence/, accessed July 17, 2022. 19. Williams, Alfred Mason. 1893. Sam Houston and the War of Independence in Texas. Houghton, Mifflin and Company, p. 354, via https://en.wikipedia.org/wiki/Texas_in_the_American_Civil _War 20. Jenkins, Sally and Stauffer, John. 2009. The State of Jones. Anchor Books, New York, p. 169. 21. https://taxfoundation.org/historical-income-tax-rates-brackets 22. Harari, Yuval Noah. 2015. Sapiens, A Brief History of Humankind. HarperCollins, New York, chapter 16, The Capitalist Creed, pp. 316-333. 23. By John Clark – flickr.com/photos/189692363@N07/50229959423/, CC BY 2.0, commons.wikimedia.org/w/index.php?curid=93179406 24. By Jim Harrison - PLoS, CC BY 2.5, commons.wikimedia.org/w/index.php?curid=4146822 25. Photoshopped version of: Title: Sam Houston, half-length SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 453 portrait, three-quarters to the left, in civilian dress, clean shaven. Scratched on back of plate: 233; Sam Houston, Texas. Hallmark: Rinhart 46. Identification from lithograph by Konrad in Huber, History of Texas, 1856, v. 2, frontis. Facing the light / H. Pfister. Washington : Smithsonian Institution press, 1978, p. 327. Transfer; U.S. War College; 1920; (DLC/PP-1920:46153). Forms part of: Daguerreotype collection (Library of Congress). Produced by Mathew Brady’s studio. This is a derivative of File:SHouston.jpg, a public domain image which was originally uploaded by en:User:Green Ape. A Type-65, Series 2, Confederate Treasury note signed by Sarah Pelot for Register and Etta Kelly for Treasurer. Kelly later became an internationally renowned entomologist and a U. S. Agricultural Commissioner. The serial number 33210 on this note is among the last notes produced in Columbia, South Carolina. The highest known serial number in this series, 44770, was likely signed just days before the hasty evacuation of the Treasury Note Bureau on February 16, 1865, as Gen’l W. T. Sherman shelled Columbia. A Type-53, Series 1, Confederate Treasury note signed by Susan A. Talley for Register and Mary V. Tyler for Treasurer. Susan Talley was very well educated, an artist, a seductress, and a Confederate spy. She also signed Confederate Treasury notes while pregnant. SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 454                               SPMC.org * Paper Money * Nov/Dec 2022 * Whole Number 342 456 OUR MEMBERS SPECIALIZE IN LARGE SIZE TYPE NOTES They also specialize in National Currency, Small Size Currency, Obsolete Currency, Colonial and Continental Currency, Fractionals, Error Notes, MPCs, Confederate Currency, Encased Postage, Stocks and Bonds, Autographs and Documents, World Paper Money . . . and numerous other areas. THE PROFESSIONAL CURRENCY DEALERS ASSOCIATION is the leading organization of Dealers in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. 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BP 20%; see HA.com  70530 DALLAS  |  NEW YORK  |  BEVERLY HILLS  |  CHICAGO  |  PALM BEACH LONDON  |  PARIS  |  GENEVA  |  BRUSSELS | AMSTERDAM  |  HONG KONG Always Accepting Quality Consignments in 40+ Categories Immediate Cash Advances Available 1.5 Million+ Online Bidder-Members For a free appraisal, or to consign to an upcoming auction, contact a Heritage Consignment Director today. 800-872-6467, Ext. 1001 U.S. CURRENCY SIGNATURE® AUCTIONS Orlando – FUN 2023 | January 11-13 Now Accepting Consignments to Our Official FUN 2023 Auction Deadline: November 14 Fr. 2407 $500 1928 Gold Certificate PMG Choice Uncirculated 64 EPQ T-1 $1,000 1861 PMG Very Fine 30 Salt Lake City, UT - $2 Original Fr. 389 The Deseret National Bank Ch. # 2059 PMG Choice Fine 15 Net. Fr. 2408 $1,000 1928 Gold Certificate PMG Choice Uncirculated 63 EPQ Fr. 1703* $10 1934B Silver Certificate PMG Gem Uncirculated 66 EPQ T-2 $500 1861 PMG About Uncirculated 53