Paper Money - Vol. XLVII, No. 4 - Whole No. 256 - July - August 2008

PAP NEY AL JOURNAL OF THE SOCIETY OF PAPER MONEY 7.7-WMZEMV/4 HF 999147970 A It s1Ttp 1 : F6 ' or pkERICA 71,11' tz;LAtil ngatig OtalZalle2t, 6 IA 055 20898 D. First time's a charm OUR MEMBERS SPECIALIZE IN NATIONAL CURRENCY They also specialize in Large Size Type Notes, Small Size Currency, Obsolete Currency, Colonial and Continental Currency, Fractionals, Error Notes, MPC's, 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 OVER 100 DEALERS in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA • Hosts the annual National and World Paper Money Convention each fall in St. Louis, Missouri. Please visit our Web Site pcdaonline.corn for dates and location. • Encourages public awareness and education regarding the hobby of Paper Money Collecting. • Sponsors the John Hickman National Currency Exhibit Award each June at the Memphis Paper Money Convention, as well as Paper Money classes at the A.N.A.'s Summer Seminar series. • Publishes several "How to Collect" booklets regarding currency and related paper items. Availability of these booklets can be found in the Membership Directory or on our Web Site. • Is a proud supporter of the Society of Paper Money Collectors. To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. The Professional Currency Dealers Association For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to: PCDA Terry Coyle — Secretary P.O. Box 246 • Lima, PA 19037 (610) 62 7- 12 12 Or Visit Our Web Site At: www.pcdaonline.com TERMS AND CONDITIONS PAPER MONEY (USPS 00-3162) is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). 92 Andover Road, Jackson. NJ 08527. Periodical postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Jamie Yakes. P.O. Box 1203, Jackson, NJ 08527. CO Society of Paper Money Collectors, Inc., 2008. All rights reserved. Reproduction of any article, in whole or part, without written permission, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $6 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 can- not be guaranteed. Include an SASE for acknowledg- ment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a MAC CD, identified with the name and ver- sion of software used. A double-spaced printout must accompany the CD. Authors may also transmit articles via e-mail to the Editor at the SPMC web site (fred@spmc.org ). Original illustrations are preferred but do not send items of value requiring Certified, Insured or Registered Mail. Write or e-mail ahead for special instructions. Scans should be grayscale or color at 300 dpi. Jpegs are preferred. 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ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover 51500 S2600 S4900 Inside 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 Requirements: Full page, 42 x 57 picas: half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaranteed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper currency, allied numismatic material, publications. and related accessories. The SPMC does not guarantee advertise- ments, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typo- graphical errors in ads, but agrees to reprint that por- tion of an ad in which a typographical error occurs upon prompt notification. Paper Money • July/August • Whole No. 256 241 Paper Money Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XLVII, No. 4 Whole No. 256 July/August 2008 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org FEATURES Mu$eum of American Finance opens at historic 48 Wall Street 243 By Kristin Aguilera Flashing green on the screen, reel star of Mad Money 250 By Fred Reed WWII Operation Bernhard brought to Silver Screen 259 Operation Bernhard Notes in Collection 260 By Donn Pearlman Bank of Scotland £50 note nets "Bank Note of Year" laurels 263 New Nex-Gen colorized $5 FRNs are unprecedented 264 The Secet Revealed? 265 By Raphael Ellenbogen Mary C. Williamson, National Bank President 266 By Karl Sanford Kabelac Silver Certificate Series of 1934A G-A $5 Mules 267 By Jamie Yakes On This Date in Paper Money History 287, 289 By Fred Reed More wheresgeorge? notes show up in change 273 By Loren Gatch and Fred Reed The Paper Column: The Clements NB of Rutland, VT 274 By Peter Huntoon True Story: one of my friends related this story to me recently 276 By Bob Cochran Tennessee Merchant and Company Store Paper Scrip 298 By Dennis Schafluetzel and Tom Carson The $100.000 Errand: Banking in 1941 Washington, D.0 301 By R. Logan Talks The Art of Money -- Money that IS ART 305 Obsolete Paper Money of St. Joseph, Florida 313 By Ron Benice SOCIETY NEWS Information and Officers 242 President's Column 297 By Benny Bolin Money Mart 297 New Members 304 Want Ads Work for You 304 What's on Steve's Mind Today? 318 By Steve Whitfield The Editor's Notebook 318 SOCIETY OF PAPER MONEY ;'COLLECTORS INC. BUYING AND SELLING CSA and Obsolete Note s CSA Bonds, Stocks 8 Financial Items Auction Representation 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 2522, Lexington, SC 29071 PH: (803) 996-3660 FAX: (803) 996-4885 SPMC LM 6 BRNA FUN 242 July/August • Whole No. 256 Paper Money Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affili- ated with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC, including its bylaws and activities can be found on its Internet web site www.spmc.org . 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 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preced- ed 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 eligi- ble to hold office or vote. DUES—Annual dues are $30. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership — payable in installments within one year is $600, $700 for Canada and Mexico, and $800 elsewhere. The Society has dispensed with issuing annual membership cards, but paid up members may obtain one from the Secretary for an SASE (self-addressed, stamped envelope). Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join as available. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in a fall issue of Paper Money. Checks should be sent to the Society Secretary. OFFICERS ELECTED OFFICERS: PRESIDENT Benny Bolin. 5510 Bolin Rd., Allen, TX 75002 VICE-PRESIDENT Mark Anderson. 115 Congress St., Brooklyn, NY 11201 SECRETARY Jamie Yakes, P.O. Box 1203, Jackson, NJ 08527 TREASURER Bob Moon, 104 Chipping Court, Greenwood, SC 29649 BOARD OF GOVERNORS: Mark Anderson, 115 Congress St., Brooklyn, NY 11201 Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 Bob Cochran, P.O. Box 1085, Florissant, MO 63031 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Matt Janzen, 3601 Page Drive Apt. 1, Plover, WI 54467 Robert J. Kravitz, P.O. Box 6099, Chesterfield, MO 63006 Tom Minerley, 25 Holland Ave #001, Albany, NY 12209-1735 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 Robert Vandevender, P.O. Box 1505, Jupiter, FL 33468-1505 Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 Jamie Yakes, P.O. Box 1203, Jackson. NJ 08527 APPOINTEES: PUBLISHER-EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln Essex, CT 06426 LIBRARIAN Jeff Brueggeman, 711 Signal Mountain Rd. # 197. Chattanooga. TN 37405 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Ron Horstman, 5010 Timber Ln Gerald, MO 63037 WISMER BOOK PROJECT COORDINATOR Bob Cochran, P.O. Box 1085, Florissant, MO 63031 REGIONAL MEETING COORDINATOR Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Paper Money • July/August • Whole No. 256 243 MUSEUM Of AMERICAN FINANCE Opens at Hist oric 48 Wall Street By Kristin Aguilera THE MUSEUM OF AMERICAN FINANCE, ANaffiliate of the Smithsonian Institution, reopened to thepublic in its new home at 48 Wall Street on January 11,2008. Located in the historic former headquarters of the Bank of New York, the Museum occupies 30,000 square feet of space and features a majestic banking hall, state-of-the-art financial education center, auditorium, library and research facility. Formerly located in modest space at 26 Broadway, the Museum signed a 20-year lease on its much larger borne on Wall Street in late 2005. Since then, it has been renovating and restoring the landmarked space, as well as creating engaging and interactive permanent exhibitions on the subjects of the financial markets, money, banking, entrepreneurship and Alexander Hamilton. The Museum's new space also includes galleries for changing exhibits and a theater. According to President/CEO Lee Kjelleren, the move to 48 Wall Street will enable the Museum to expand its reach signifi- cantly, giving New Yorkers, as well as national and international vis- itors, an increased awareness to make more effective financial deci- sions. "As the only public and independent museum of finance, we are proud to be a guardian of America's collective financial memory, while also serving as an interpreter of current financial issues," Kjelleren said. "We look forward to taking our place among the major destinations on Wall Street." itra '1■446eVitargitei CAPITAL STOCK. $125,000.00 hi t; - , 97 STOCK CORTIVIGATE /4f rd motoreompanyof Canada, Chalkd ..-v -tle,wr:Mt3: 4. 244 July/August • Whole No. 256 • Paper Money Displays at the newly opened, reno- vated Museum of American Finance, 48 Wall Street, New York City, invite viewer interaction. Ten shares of Capital Stock in The Ford Motor Company of Canada, Ltd., signed by company president Henry Ford, 1908. Located one block east of the New York Stock Exchange, the Museum is the Exchange's de facto visitors center. "NYSE Euronext is proud of our partnership with the Museum of American Finance," said Duncan L. Niederauer, CEO, NYSE Euronext. "The Museum is well suited to reside in New York and on -Wall Street, and gives the public an opportunity to learn more about our capital markets and NYSE Euronext. This is especially important given the ever changing and rapidly growing global financial marketplace." Dr. Richard Sylla and Dr. Robert Wright, both financial historians, authors and professors at the NYU Stern School of Business, are the primary curators of the permanent exhibits. Designed by the renowned New York exhi- bition design firm C&G Partners, the exhibits were built and installed by the award-winning fabrication firm Maltbie. Highlights from the Museum's exhibitions include: the ford motor Company of Canada, Conned • High denomination U.S. currency including the $500, $1,000, $5,000 and $10,000 notes • 60 lb. gold ingot from the SS Central America shipwreck, 1857 • Fugio cent, the first Congressional coin author- ized, 1787 • Augustus Saint Gaudens $20 coin, 1907 • Coins from the El Cazador, a recently recovered Spanish treasure ship that sank off the coast of New Orleans in 1789 • Treasury bond issued to and signed by President George Washington bearing the first use of a dollar sign on a federal document, 1792 • Letter for purchasing stock in the South Sea Company signed by Isaac Newton, 1720 • Ticker tape from the "Great Crash" dated October 29, 1929 (;b:V., IT KNOWN, Yirat flax< doe fro / »a the 26li sleat) ...1'.dad ,f avnerina, onto tl fCt e ..1/1,H0L , tom„ ..,,y*tot:014, G'/0/1/0'0144/;miee<414. /17, wr. tcr anIzam, inmx theAlly:44p/dCet,..ti&a:ccat i t . fia Otb'ed r, reit:m/411'm, fiely=e,t1 m'on whail mad hierelo; 1/. lard, Ode Ir; zesorded ,/ arm,-a.“ zriarb ‘y det,,,,,,y, dm in,Y" I • • ',aw/ p , 0,r1VCS. • () ) A4, f (•( if1/110 ' Oer9tun4- z Paper Money • July/August • Whole No. 256 245 • Ford Motor Company stock certificate signed by Henry Ford, 1908 • Experimental prototype of a telegraph machine from Thomas Edison's lab • Segment of 1858 Trans-Atlantic cable • Hundreds of photographs and illustrations from American history, dozens of which are shown at a very large scale • Original media and interactives: Zoom in on a bill, stock and bond; "Teaching Ticker" explaining how to read an electronic ticker, and what the symbols and numbers mean; behind-the-scenes video tours of the New York Stock Exchange and the New York Mercantile Exchange; and interactive interviews with 16 entrepreneurs. The Museum of American Finance is the nation's only public muse- um dedicated to finance, entrepreneurship and the free open market system. With its extensive collection of financial documents and objects, its seminars and educational programming, its publication and oral history program, the Museum portrays the breadth and richness of American financial history, achievement and practices. Founded in 1988 by John Herzog, the Museum promotes a deeper understanding of risk and reward, helping people to become more financially indepen- dent. The Museum is open Tuesday — Saturday, 10 am — 4 pm. Admission is $8 for adults; $5 for students/seniors; kids 6 and under free. For information, call 212-908- 4110 or visit www.financialhistory.org . Museum of American Finance display saluting founding father and first Secretary of the U.S. Treasury Alexander Hamilton. Oldest extant U.S. obligation with the "$" sign, bond made out to/and signed by George Washington January 17, 1792. Above: A large Liberty Bond poster, and a Walt Disney-inspired World War II U.S. bond highlight another MAF display. At right: Interactive "Because that's where the money is" display on the mezzanine level. Opposite Top: A dramatic display of Stock Exchange memorabilia and tech- nology. Center: ticker tape from the "Great Crash" dated October 29, 1929. Botton: a 60 lb. gold ingot from the SS Central America shipwreck, 1857. 246 July/August • Whole No. 256 • Paper Money Paper Money • July/August • Whole No. 256 247 July/August • Whole No. 256 • Paper Money248 • high angle view of the Museum of American Finance main display floor. A major emphasis of the museum is the contribution of founding father and first Treasury Secretary Alexander Hamilton. CURRENCY A Division of Collectors Universe NASDAQ: CLCT The Standard for Paper Money Grading Paper Money • July/August • Whole No. 256 249 Protect Your Notes For the Next Generation When it comes to protecting your investment for future generations, there is no safer way than with PCGS Currency holders. • PCGS Currency is the only grading service that encapsulates notes in Mylar-D - , the safest and best archival material for long-term storage • Our unique grading label and open-top holder allow notes to "breathe," thus preventing them from deteriorating due to lack of oxygen • The specifically designed tamper-proof label ensures the security of your notes Experienced collectors trust PCGS Currency — the leader in third-party certification. Call 800.447.8848 or visit www.pcgscurrency.com today, and experience the clear difference. P.O. Box 9458, Newport Beach, CA 92658 • (800) 447-8848 • Fax: (949) 833-7660 • www.pcgscurrency.com 102008 C011,10. 1_101,ers, '35101 PM Artylar-D is a registered trademark of DuPont. 250 July/August • Whole No. 256 • Paper Money gffTTEM 21 M071 am .0 KOITT FINANCIAL WISH FULFILLMENT FOR SOME IShaving enough cash to pay the rent, buy food and gas, andbuy the baby's diapers. For many others, however, havingenough dough to throw around at will will better fill the bill. Money madness of the latter kind takes a suburban housewife and her unlikely cohorts on a green goods scheme in Mad Money, which opened in theaters nationwide earlier this year. Mad Money opened in wide release ---‘$' and eventually turned in a domestic gross of $20+ million. It is now on 0 KEDAToN ,ArrA, He/Al:AXES DVD. This buddy heist flick teamed three Hollywood actress of varying acclaim -- Diane Keaton, Queen Latifah, and Katie Holmes -- in a come- 1 dy caper in which they rip off theKansas City Federal Reserve Bank.Such shenanigans should be of interest to Paper Money readers, who may have missed my abridged film review which appeared contemporane- ously in Coin World. Many readers of this magazine likely also collect the Kansas City Fed bank's bills. While the actresses only lit up the silver screen to somewhat tepid reviews, the cash flashing green all over the mul- tiplex screens is the reel star of Mad Money, in this hobbyist's view. It provid- ed me the opportunity to apply my movie money sleuthing skills honed in the preparation of my Show Me the Money! The Standard Catalog of Motion Picture, Television, Stage and Advertising Prop Money (McFarland, 2005). Amid flashes of real Federal Reserve Notes shown prominently as "flash" (a cinema technique to add real- ism in closeup shots), the characters spend the bulk of 103-minute film steal- ing, secreting, counting, tossing bills in IW .----, the air, hiding, spending, burning, and D isco " • • YOUR p of gold Advertise in PAPER MONEY Paper Money • July/August • Whole No. 256 251 IN FULL LIVING COLOR, too! 252 July/August • Whole No. 256 • Paper Money Actors Tom and Mrs. Cruise (Mad Money co-star Katie Holmes) at the January 10, 2008, red carpet premiere of Overture Films' Mad Money. shredding countless $100, $50, $20, $10, $5 and $1 prop notes, which only emu- late the real federal paper. Prop money, however, as I showed several years ago in my awarding winning book can be quite appealing and collectible in its own right. My 800- page book, which I'm proud to say garnered the Numismatic Literary Guild "Best Worldwide Paper Money Book" of the year and also an SPA/IC Award of Merit, showed about 1,800 different varieties, as well as hundreds of cinema sit- uations which featured displays of cash. More than a thousand movies were sur- veyed. Prop note IDs on the pages facing, and following are from that volume. The film opens in an upper middle class household with Ted Danson's character Don Cardigan (think comfortable sweater!) moping around from a year of not finding work after being downsized from a well-paying gig. With hundreds of thousands of dollars in unpaid bills, homebody Diane Keaton's character Bridget Cardigan decides to reenter the workplace and save the fami- ly's homestead. Finding her experience raising kids, making a home, and running a household for several decades not very marketable, she accepts a low paying jan- itorial job at the Kansas City Federal Reserve Bank because it "has benefits." Bridget's job takes her throughout the maximum security banking facili- ty, picking up trash, pushing a mop, and also observing other Fed employees count out and remove worn out notes, which are banded and shuttled in security carts to the shredders for disposal. Frankly I can't vouch if the proce- dures in this film for dispensing with worn out currency jibe with practices in the real world. An internet writer with more savy than this author suggests these several faux pas: (1) When currency is destroyed at a Federal Reserve, it is carefully accounted for: serial number, denomination, and destroy date. (2) During cash processing, no employee at the Federal Reserve is allowed to be left alone with the money. (3) In Federal Reserve cash pro- cessing facilities, multiple denominations of money are never allowed to mingle. (4) In order to keep unauthorized items (weapons, cameras, etc.) out of Federal Reserve buildings, all personnel are scanned before entering the building, not on their way out. My own field trips to the Fed were brief. The last time I tried to enter the Dallas Federal Reserve Bank several years ago to purchase some of the then newly released large portrait $5 FRNs for a Memphis Paper Money Show Exhibit, I was not received very hospitably nor given a grand tour, nor permitted to purchase any of the new notes. Officials simply showed me the door. (Ironically, a well spent series unknown but NexGen ./11_11 , III III Ul 1111111IL.I1111I III LP II G3 00003967 r zo2 PI THIS NOTE IS NOT LEGAL. IT A TO BE USED FOE MOTION PICTURES won MOTION PECTiittil 41SE ONLY 1-41 71 • - 1E G3 00005907 %171 . IIFITI-111-111111-",1111-71r111-111- ..*TO by V ut►irz Mtlf IFIONEPICTIEJIM G3 00005967 702 dairtze-dr G3 00005967 T "At ,ts110•" 0.00 $1 Reserve Note (Reed type RA20-1) $5 For Motion Picture Use Only (Reed type RA80b-5) $50 Cinema Reserve Note (Reed type RA80a-50) Paper Money • July/August • Whole No. 256 253 Co-star Katie Holmes flashes real Federal Reserve Notes in a screen closeup from Mad Money. Most scenes used prop notes like the ones displayed here, and cataloged in my 2005 book, Show Me the Money! Eighteen hundred varieties of prop money are cataloged in the author's 2005 book, which is available from the publisher at www.mcfarland.com and also on www.amazon.com [.1 All the note types illustrating this article were observed in scenes from Mad Money. 254 A $50 prop note floats past Queen Latifah's currency thresher Katie Holmes stashes loot in a trash can for later retrieval Keaton, Holmes and Latifah sort their ill-gotten gain July/August • Whole No. 256 • Paper Money fivespot appears as a flash note in one of this film's scenes.) Writers of this film probably never got the inside view of Fed opera- tions either. Mad Money was filmed in Shreveport, LA somewhat over the hori- zon from the District 10 KC Missouri Fed bank locale in which much of the action supposedly takes place. Suffice it to say, that this film, like many of its predeces- sors, notably Who's Minding the Mint?, thinks that the United States Mint sup- plies new paper money to the Fed to replace the old warn out notes dispatched to the shredder. (A realistic Federal Reserve angle was handled much better in Leo DiCapprio's Catch Me if Yea Can.) In due course, however, janitoress Bridget recruits Holmes' character Jackie Truman (think, Missouri's favorite son Harry "The buck stops here" Truman, this is the KC district after all) who pushes carts of notes banded for destruction from floor to floor, and Latifah's character Nina Brewster (think Richard Pryor's Brewster's Millions), whose job consists of opening up the security cash carts, pulling out straps of discarded notes and feeding the bundles into a green threshing machine. Here, the felony plan is simple and direct. Bridget supplies a duplicate cart lock and key. Cart pusher Holmes opens the cart and slips out bundles of boodle which she stashes into a trash receptacle. These misdirected notes are gathered up by janitoress Bridget in black plastic utility bags. Holmes then pushes said cart, minus the pilfered loot, to Latifah's security location at which point Nina unlocks the false lock, empties the cart contents into her shredder, and sub- stitutes the real lock to cover up their theft. All this is done, mind you, in full view of myriad security cameras, who sur- veil "everybody, everywhere, all the time," in the words of a clueless Fed Bank securi- ty tiberofficial. The trio subsequently meets in a rest room, divvies up the plunder, stuffs the bundles of notes in their undergar- ments, and then coolly walk out past secu- rity guards at the end of their shift. Thereafter they count, reconcile, and share their ill-gotten loot in a giggly fest in a bedroom of Bridget's upscale home LiJ ui.jjuo57 .7" . ` rg. THIS NOTE 5 NOT LEGAL, IT g IS TO HE USED FOR MOTION PICTURES 'MP a•acr, F OR MOTION PICTUR USE ONLY 1.27:ANXILIETILL SIEASIMS +10M-ANEIFMACA.-.A LD 975708077 L12 I Cr, A L D 975708077 $50 Federal Reserve Note (Reed type RA85-50) $50 Motion Picture Money (Reed type RA90-50) e1,351_15,55.11.1..111,5(-0,121:55 NOT' A LD 975708077 L12 . o t ,U2( I j tlt th 411N - wtir,* A LD 975708077(011.31M P151(51( us/ MT1111511131( *KT lEttr5R $100 Federal Reserve Not [sic] (Reed type RA85-100) $100 For Motion Picture Use Only (Reed type RA80b-100) Paper Money • July/August • Whole No. 256 following their work shift. Galpals Bridget, Nina, and Jackie are not really stealing the money, just recycling it one more time -- the ethically-chal- lenged characters decide -- before the notes are finally put down for their final count. The gals' "victimless" crime spree continues unabated for three years, involving hubbies, boy friends, and finally an amorous security guard who wises up to their ploy. However, nobody else in bank security catches on until a revenuer starts checking into the women's unreported riches for income tax purposes. Mad Money opened January 18th to a modest $92 million weekend, or roughly the amount of green stuff the KC branch eviscerates in a heart beat. None of the actors will win Hollywood gold either. This chick caper has little of the panache which marked Thelma and Louise, for which Mad Money director Callie Khouri won a passel of screen writing laurels including an Oscar and a Golden Globe. Chicago film critic Roger Ebert pointed out that Mad Money is actually a remake of a 2001 British film Hot Money, in which another mop slinger named Bridget teams with another associate Jackie and a Liz to steal British pounds bound for the Bank of England's incinerators. Stuffing dirty old money in one's knickers must be the rage. That crew also smug- gled their liberated, reborn cur- rency out in their underwear. Ebert gives this Hollywood adaptation Mad Money a feeble star and a half. Variety.com disparages its writ- ing, acting, and characterization. The Village Voice says its worth a few bucks. ReelTalk's Diana Saenger says it has substance, and calls it "a modern zany caper with entertaining perfor- 255 256 July/August • Whole No. 256 • Paper Money The carefree felons rejoice in their big score in suburban housewife Keaton's boudoir. mances." Christianity Today finds troubling "the sweeping lack of remorse over stealing ... [for which] greed seems to win the day." For this viewer, Mad Money is a mixed bag. It is neither as tightly drawn nor as socially relevant as Dead Presidents, the 1995 Hughes Brothers' actioner that also involved heist of retired currency but that time from a Fed armored car. In that film the gang of Larenz Tate, Keith David, Chris Tucker and Freddy Rodriguez provide better acting turns than Keaton, Latifah, Holmes and Danson muster. Besides, the Hughes' film has a moral. Mad Money is light-weight Fed bank thievery compared to the tension provoked between Bruce Willis' John McClane and Jeremy Irons' Simon Gruber during the gold robbery of the New York Fed district bank in Die Hard with a Vengeance. Now there was a Federal Reserve knockoff worth its celluloid. The current film also lacks the slapstick zaniness of the aforementioned ill-named Who's Minding the Mint? (Columbia Pictures, 1967), and the genuine humor provided by ripoff artists Milton Berle, Joey Bishop, Bob Denver, Jim Hutton, Dorothy Provine and company, who infiltrate the "Mint" and run off batches of notes for themselves. On paper, however, this film does have its virtues in its three singular lead talents. Diane Keaton has been a personal favorite since her Oscar days in Annie Hall with Woody Allen thirty-plus years ago. Mrs. Tom Cruise was a delightful guilty pleasure for six seasons as Joey Potter on TV until she opted for Pacey instead of Dawson. But Kate Noelle Holmes (Cruise) did become an adult star too on the big screen by holding her own in a gritty performance in The Gift, opposite Oscar winners Kate Blanchett and Hilary Swank. The Queen has Paper Money • July/August • Whole No. 256 257 proven Oscar-worthy also in the musical Chicago, and had heist experience in Set it Off But she and her costars are cast adrift in a too small boat this time out. For this viewer, the money orgies are the most appealing sequences in Mad Money. After their first heist, Bridget, Nina and Jackie literally roll in the dough on Bridget's suburban bed. The gals' boudoir revel in their illicit gain is mildly reminiscent of Steve McQueen and Ali McGraw ogling their ill gotten gain bed- side in The Getaway, or Jim Brown and Diahann Carroll on their bed of stolen loot in The Split. All pale, however, to the money bed scene of John Phillip Law and Marisa Mell in Danger Diabolik. Cascades of stolen screen cash have been a staple of film fare for years, and Mad Money does offer some good ones. The best is the showy profusion of falling cash sent skyward which appears on Mad Money's movie poster. Bridget, A barrel topped with prop notes, saved back from destruction, appears in the film's classic money orgy final scene; while we can bet that it's prop notes that Latifah is torching below Keaton's husband, played by Ted Danson, attempts to get rid of the damning stolen loot by shredding and flushing evidence of the gals' ill-gotten gain. Male pals Roger Cross (above) and Adam Rothenberg (below) play subsidiary roles to the heroines' comedic adventures in Mad Money. 258 July/August • Whole No. 256 • Paper Money Nina and Jackie toss the loot gleefully into the air. This scene harkens back to Barbara Streisand's Fannie Brice, who tosses cash and cares to the wind in Funny Lady, the sequel to her Funny Girl. Still other films have regaled us with the snows of stolen money more vigorously. The great scene with Peter Falk, Paul Sorvino and crew in The Brinks job springs to mind. Steven Guttenberg literally swam in a sea of currency inside the U.S. Treasury Building in The Man Who Wasn't There. Musician Phil Collins and his gang wafted through piles and piles of stolen boodle in Buster. But for sheer mayhem arising from the profusion of purloined money, the Kevin Costner / Kurt Russell 3000 Miles to Gmeeland heist tops my list. Still in Mad Money the camera catches delightful sequences of currency tantalizingly dancing in and out of focus in mid-air. If you missed the film in its theatrical release, it might be worth your while to catch it now on DVD, which was released in May. You won't find the lyrical effusion of cash shown in Val Kilmer's Salton Sea, but sharp-eyed hobbyists with a quick eye and a modicum of knowledge can catch glimpses of some of the newer styles of movie money prop notes that fill Hollywood's coffers. Props are used for the obvious security and financial concerns in place of real money in most film scenes. Prop master for the film was Scott Reeder, a veteran of nearly 200 episodes of Dallas-based Walker, Texas Ranger, where he offered up pallets-full of prop drug money. Here he provides a splendid array of these numismatic gems. I spotted quite a number of different notes cataloged in my book. From the examples shown here, the reader can judge how realistic these stand ins are for the real deal when projected upon the far wall at 24 frames per second. Notes similar to these bills caught my eye in Mad Money: $1 Reserve Note (Reed type RA20-1) $5 For Motion Picture Use Only (Reed type RA80b-5) $50 Cinema Reserve Note (Reed type RA80a-50) $50 Federal Reserve Note (Reed type RA85-50) $50 Motion Picture Money (Reed type RA90-50) $100 For Motion Picture Use Only (Reed type RA80b-100) $100 Federal Reserve Not [sic] (Reed type RA85-100) There were doubtless other types of notes, which I did- n't pick up on while munching my popcorn. But hunting for them was a blast. With the film now out in DVD, slow and stop motion could doubtless turn up additional varieties. Whether these money angles or the semi-numismatic, comedic glimpses involving the Fed in Mad Money win over the viewer or not, he/she should stay sharp for the numismatic fire- works at the film's end. The money montage end credits, which parses Federal Reserve Note designs in kaleidoscopic colors, is a visual delight dancing across a giant screen. Whatever one's feelings are about the previous 100 minutes, this film ends on high NOTES. WWII Operation Bernhard brought to silver screen 259 L-R August Diehl as Adolf Burger, Karl Markovics as Salomon Sorowitsch, Veit Sttibner as Atze and August Zirner as Dr. Klinger in the Sony Pictures Classics film The Counterfeit s, whichdramatizes Operation Bernard. Paper Money • July/August • Whole No. 256 M.4D MONEY IS NOT THE ONLY RECENT FILM TO BRING PAPER MONEYto center stage on the silver screen. The acclaimed, Oscar-winning foreign languagemovie Die Fiilscher (The Counterfeiters) dramatizes the Nazi Operation Bernhard to fakeBritish pounds during World War II. (See related story following on page 260.) Paper Money enjoyed the film a good deal, but was confused by the purported proof sheets of U.S. C-note faces (shown being examined above with an overly large C-note back design), on which the note impressions were widely distributed across the sheet, so we called upon World War II numismatic expert, SPMC member Joe Boling to critique the film. Joe is co-author (with Fred Schwan) of the massive, 860-page World War II Remembered: bistog in your bands, a numismatic study (BNR Press, 1995) which is currently under revision. "It is not really about the counterfeiting operation," Boling noted, "but about the relationships between the prisoners and their jailers, and among the prisoners themselves. The side story about the prisoners wanting to delay the completion of the $100 notes in order to prevent the Germans from obtaining the foreign exchange that they would represent is not drawn from life, as far as I know. As for the technical side, I saw two obvious errors (and will no doubt find more when I can view the film on DVD). The spacing of the $100 notes on each sheet was way too wide. Banknote paper would have been pre- cious, and the very wide gutters shown on the proof sheets was completely incorrect. In addition, the Federal Reserve district seals on the notes shown were incorrect -- they had teeth, and teeth were not introduced on those seals until the Series of 1950. Until then the seals were round without teeth, and larg- er than were shown on the sheets in the movie. Whoever the technical advisor was on currency, he did not do the film any favors," he added. • PAPER MONEY GUARANTY 'OPERATIONGBEeR rniNHaAnRCDoulonpteourfnedist"4, ,i4pilaG PGierket 336E 1934-43 Britain , "WWII S/N K/171 39728 Saehsenhausen Camp By Jewish Inmates Vnry Fine 260 July/August • Whole No. 256 • Paper Money `)))( CAc attit-K0tVilq k/./a):Iik icicao-. 7413(5/ ,,,,_./(v17o2v IS X/ /936' ez/ _a17? / / 2 -7/'4e/ (mte am(' 3 9 7 2 8171 Operation Bernhard Notes in Collection By Donn Pearlman Operation Bernhard £10 Bank of England note, issue-dated July 18, 1936 Ab ONE-OF-A-KIND, AWARD-WINNING EXHIBIT OF HUNDREDS of pieces of World War II era mail, documents, and counterfeit money related to the Nazis' attempted extermination of Jews and others has een acquired from a private collector by an Illinois charitable founda- tion. The foundation will preserve and offer the extraordinary items for public use at Holocaust and genocide educational venues around the world, and has set up a web site for the historic artifacts (www.SpungenFoundation.org ). Numismatically most important to readers of Paper Money are the "Operation Bernhard" Nazi fakes of British pound notes in the collection. "The insured value of the collection is $1 million, but the educational value to future generations is incalculable," said Daniel Spungen, a member of the board of the Northbrook, Illinois-based Florence and Laurence Spungen Family Foundation. Including recent additions contributed by Spungen, the collection now contains a dozen examples of the 5,- 10-, 20- and 50- pound counterfeit Bank of England notes created by slave laborers during "Operation Bernhard," the Nazis' failed plot to undermine England's economy and the subject of the recent motion picture, The Counterfeiters (see related story on page 259). These notes have been certified by Paper Money Guaranty (PMG). Between 1942 and 1945, inmates at the Sachsenhausen concentration camp in Germany produced nearly nine million fake bank notes. Many of the notes made during "Operation Bernhard" subsequently were used by the Nazis to pay unsuspecting merchants, foreign agents and spies. 5 4 6 1 6 Paper Money • July/August • Whole No. 256 261 )(Dr, ailn)r)NM any') fo%f ey 4):ea/ter 41t zeomy fee;oei 1,5 fa; 1933 ev.--oroz.„ o- c_Va/niV625Sie - . c./ 5 4 3 8 4 Operation Bernhard £50 Bank of England note, issue-dated June 15, 1933 ( -attk, ) ritraltb , -- A (;-; /A n 2 4 .(A1 • kAarae 'dearer /217 44furEfiyi ..,, (7"'-,S.-~, i.0( - 2)/- 7:935 64- 29 ,---,AGL‘Z ' 29 ae . X93d- ,---- r /2 27/0;:d4jiez '. ;I/ ,.7;iiyzaaOleo' BANK of ENGLAND . Operation Bernhard £5 Bank of England note, issue-dated Oct. 29, 1935 "One of the most heartbreaking artifacts and historical evidence of Nazi desecration is a torn fragment of a hand-written Hebrew parchment from a Bible scroll (Tanakh)," Spungen said. "A German soldier used the holy scripture to wrap a parcel he mailed from Russia to Austria in 1942." "The sacred parchment was pillaged from a Russian synagogue. Ironically, the portion that was used as wrapping paper has passages from the first book of Samuel about the story of David and Goliath," explained Spungen. The postal artifacts are evidence of the torments, ravages and terror of war and genocide in Europe from 1933 to 1945. They also show that many pris- oners never lost hope, and the human spirit survived. "We will be giving educational institutions and museums around the world the opportunity to use the exhibit materials for displays, lectures and research," said Florence Spungen, Founder of the Foundation. "This is a perma- nent educational tool for all generations to document this important period of time that cannot be forgotten." The Holocaust exhibit was acquired intact from noted researcher, writer and collector, Ken Lawrence, of Bellefonte, PA a native Chicagoan and a former Vice President of the American Philatelic Society. Lawrence began assembling this material in 1978. The Spungen Foundation now will be the guardian of the more than 250 envelopes, post cards, letters, specially-designated postage stamps used exclusively by concentration camp inmates, Jewish ghetto residents and prisoners of war, and, of course, the counterfeit money. 262 July/August • Whole No. 256 • Paper Money Operation Bernhard £10 Bank of England note, issue-dated April 16, 1935 \,......, ---=-7,....---------, --- - € -->------ c i 5- - s' ;Va t\ ii (ijAp. )' . Ci)t (Li t ilb__>)91 ) ( -_ -- ) U.- -) ie2 / zar 1 & ( t a9 o- _ _ . z -- ---/ :—/1 — 4 ( 1749/ ..., ------- /12e z ( ")./.,-ffrn (7"--- 1/42.- V 4 t, C KYG/LL / „...-- 1,935,4z7 /6 ,...41F-2ion , /6",_*r/ /,9;,):: 2 „Ai...: m- .7/(7P:'a7e_ (%1Y/Ø1///"Y '=- '„/"" ,) /2 ) e -/he/__ da-11/,' 7/(rJii9'kiza.. 6" , ,:s3 3 7 8 9 ( -/zet/ L•eahwv: Frequently exhibited by Lawrence, the philatelic items won awards at stamp shows including a 2006 international exhibition in Washington, DC. "The scroll page that was used for mailing a parcel is the most viscerally disturbing item. Some scholars have told me it is among the most important sur- viving evidence of Nazi desecration," said Lawrence. "Chronic, flagrant desecration exemplified by violating that sacred scrip- ture imbued the cultured German nation and historically honor-bound German army with an inhuman attitude toward Jews that made the Holocaust both possi- ble, and given the opportunity, inevitable," he said. Some of the ghetto and concentration camp letters have coded or hidden messages about the plight of the senders. Research about the postal materials has led to discovery of a previously unreported undercover address in Lisbon, Portugal, used by Jewish resistance fighters, and the location of two camps in Romania for slave laborers and political detainees. In addition to the Bible scroll fragment used for wrapping a package, the collection includes such significant philatelic material as: • Rare examples of mail sent to prisoners and mail sent between inmates at different camps; • A card sent by an inmate at Dachau soon after it opened in 1933, which is the earliest known prisoner mail from any Nazi concentration camp; • An October 3, 1943, letter to his parents in RzeszOw, Poland, from Eduard Pys, a 21-year-old who arrived on the first transport at the Auschwitz concentration camp in May, 1940; • The only known surviving piece of mail sent by Rabbi Leo Baeck, the leader of German Jewry (Reichsvertretung der Deutschen Juden), while he was confined to the Theresienstadt ghetto; • A postal checking account receipt imprinted with a crude anti-Semitic caricature denoting payment for a subscription to a Nazi propaganda newspaper, Der Sumer; • Mail secretly carried by children through the sewers of VVarsaw during the 1944 uprising; • Mail clandestinely carried from Nazi-occupied Poland to the exhibit Polish Navy headquarters in London and to a Jewish resistance leader in Switzerland; The Florence and Laurence Spungen Family Foundation was established in 2006 to support charitable and educational causes. The organization's website is WWW.SpungenFoundation.org [.] Face of the award-winning £50 pound banknote; back is shown above. Paper Money • July/August • Whole No. 256 263 Bank of Scotland £50 note nets "Bank Note of Year" laurels THE INTERNATIONAL BANK NOTE SOCIETY(IBNS) announced recently that the Bank of Scotland's 50-pound note has been awarded the Society's "Bank Note of the Year" for a bank note issued in 2007. In an April ceremony in the Bank's Edinburgh Head Office, representatives of the IBNS presented certificates and medals marking this award to Graeme Donald, Head of Industry and Products, Payment Services at HBOS plc, the parent company of Bank of Scotland plc; and Stuart Rost, Banknote Designer at De La Rue Currency (shown above). The IBNS judges considered the 50-pound note to be a bold design and an outstanding representative of the new series of notes issued by the Bank of Scotland in September 2007. Dominating the note is an ethereal portrait of Sir Walter Scott giving the note an intriguing ambience consider- ing the range of traditional and modern features on the note. Raleigh has appeared on many notes issued by the Bank of Scotland, but this is the first representation of Scott based on the famous portrait by Sir Henry Raeburn, painted in 1822. The innovative depiction of Scott is one aspect of the note that found favour with the judges. Blessed with generous pro- portions, the note is impressive to hold and uses the available space to excellent effect. The front of the note, designed around Scott's portrait, incorporates a range of security features, the most evi- dent of which are a hologram on a foil patch and a wide micro- printed security thread with colour shifting effect (red to green). These elements create a framework around which are images of the Bank's historic headquarters in Edinburgh, its coat of arms, the Bank of Scotland's logo and, very much subordinated to the dominat- ing portrait of Scott, the promissory text. In contrast to this, the denomination numerals are set out in dramatically bold fashion using a clean simple font style. The back of the note is if anything even more dramatic. It features one of Scotland's most exciting contemporary engi- neering and architectural achievements, the Falkirk Wheel. The minimal text, again in bold and simple style, serves to enhance the drama of the central feature, to hugely impressive effect. Contributing to the judges' decision was the combination of traditional skills and modern technology used by the note's designers, De La Rue Currency — especially the fact that the portrait engraving was produced using computer generated patterns and was not hand-engraved in the traditional way. The 50-pound note was a clear winner in this year's com- petition, impressing the judges with its artistic and technical excellence, its unusual and innovative design and its superior production, the IBNS news release said. —2-7 , 1 ,;,AE-,:,-. :-_--:, r,g-ikwypor ,-.--WM tc2AMD, MUM zgpmgmcc,uk,IHF 999 147970 AF6 A HF 9 9 9 14 7 9 7 0 A 634., Zed.4 CAW., \\\ tk„ P 000 er 31 fi Iam *was, -Imamsciar .■,A 05582089 A A 1 IA 0 5582 089 A try tLY 264 July/August • Whole No. 256 • Paper Money LETTER TO THE EDITOR 3/29/08 Dear Fred, Do we have another governmental foul-up? Two (2) types of $5.00 FRNs with same Series # 2006. I believe this is incorrect. The latest bill should be 2006-A. -- Sincerely, George W. Taylor Series 2006 $5 Federal Reserve Note Series 2006 $5 Federal Reserve Note New Nex-Gen colorized $5 FRNs are unprecedented FOR THE FIRST TIME IN THE HISTORY OF U.S.Federal Currency, two notes of the same class and denom- ination BUT DIFFERENT DESIGNS have the same Series year. BOTH non-colorized and colorized Series 2006 $5 Federal Reserve Notes have been produced, although the non- colorized Series 2006 FRNs were produced only as a collector issue for sale at a premium. All such notes bear "collector" serial numbers HF99X,X)GX,VC. The first collector to call Paper Money's attention to this is member George W. Taylor, who wrote the Editor shortly after the new notes entered circulation (see above). Paper money expert Gene Hessler, author of The Comprehensive Catalog of U.S. Paper Money, confirmed this unprecedented happenstance among Series designations. Then Paper Money asked both the BEP and paper money authority Peter Huntoon for their comments. "Yes, this is vein curious," Huntoon observed. "This is new. The convention for dating and numbering small size notes has broken down during the past several decades so the fact is, we don't know what will appear on a new note until we see one. "They typically, but not always, start a new series when a new design is introduced, even including new seals such as with the Si Series of 1969. Then they add and next mere- 3172 Paper Money • July/August • Whole No. 256 265 mented a suffix letter to the series date. There are exceptions to this pattern, the first being back in the SC $1 1928E, and LT $2 1928C, and $5 1928B, series when they changed the legal tender clauses without designating a new series. "Usually, though, incrementing the series letters involved a signature change, but not aways as was the case when they incremented the letters when they increased the size of the plate numbers during the early kilian-Morganthau era. "They arbitrarily began to change the series on occasion without a design change, the first time being the Series of 1974 $1s, but then they would sometimes revert back to the pattern of adding a series suffix letter. Additionally, three other traditions broke down: (1) They would occasionally, and now usually, arbitrarily restart serial numbering with each signature change, rather than allow the serials to continue sequentially from the fore- going. (2) They would arbitrarily occasionally restart the face and black plate check numbering over within a given design. (3) Usually look-alike designs utilized the same series year but no more. Notice that the colorized $20s are dated 2004, the $5s 2006. "The patterns in all the variables have become erratic. However, it must be noted that there never was a firm and fast convention for any variable. This is just one more example of the fickleness and asymmetry that characterizes any human endeavor. "Also notice with the new colorized series that they have begun to use an arbitrary beginning prefix letter in the serial numbers to differentiate the notes from those that preceded. Specifically, the new $5s and $10s all utilize the beginning prefix 'I' instead of 'A' for the first notes printed in the series, while the $20s use 'E', etc." Official BEP Statement on Series 2006 $5 FRNS Officially BEP media relations director Claudia Dickens puts a fine point to Huntoon's findings. "The following is the response to your question of two designs on Series 2006 $5 bills," Ms. Dickens wrote: "The series year on United States banknotes changes when there is a new Secretary and/or when a major redesign of the note takes place. Secretary of the Treasury Paulson was confirmed by the Senate in 2006; accordingly, as soon as new plates could be made bearing his signature banknotes began carrying the series year of 2006. "When the redesigned $5 note was issued the decision was made to retain the series year 2006 on them since, like the $10 note which first bore the series year 2006, it was another note in the New Color of Money" series. The old $5 bill has the letter "H" preceding its serial number, and the new $5 carries the letter "I" as its prefix. The BEP also confirmed that this is unprecedented in U.S. federal currency history. "No, we are not aware of any other instance like this one," Ms. Dickens noted. Editor's note: So, George, we at Paper Money guess the answer to your questions is "No, this is NOT a governmental foul-up, since it was done intentionally, BUT it sure is gosh darn unusual." It appears to this writer a simple uniform plan for designating currency Series years could be implemented, but we also doubt that such a solution will in fact be undertak- en. -- Fred Reed The Secret Revealed? By Raphael Ellenbogen (deceased) I MIS ANECDOTAL BOOK THE ROMANCE OF1Coin Collecting, Edward C. Rochette (a former President and Executive Director of the ANA) writes on "The Secret of the Number in the Shadow" (page 27). He relates his search for the secret of the number 3172, which is hidden in the bushes at the left side base of the Lincoln Memorial on the back of then current five dollar bills. He quotes Robert J. Leuver, former head of the Bureau of Engraving and Printing and at that time Executive Director of the ANA, who stated, "The number goes back a long time in the lore of currency, but it actual- ly has no significance." Ed also recounts the hidden names of the first 26 states of the union (the first twelve, in the order of admit- tance, on the tops of the 12 columns in the front of the Memorial and the balance of 14 on the frieze at the upper part of the Memorial.) I submit, that the minute engraving of these "states" has a correlation to the "hidden" number 3172: Adding the figures together, they total 13 standing for the original "13" colonies admitted to the union: The first "3," in 1787; the next "1," at the turn of the year January 1, 1788; the following "7," throughout 1788; and the last "2" in 1789-90. This may be fanciful thinking, but until another theo- ry is expounded, it is certainly a "romantic" conception. v No 0107 FlusT NATION ML, BANK CAPITA, $ 5cwoom SURPLUS $50.000.00 PolerAixs,Now May,11th,192o4 At a meeting of the Board of Directors of the First National Bank of Portales,held at ths office of said bank on date above named,the following directors being preeent,to wit: J.D.Priddy, Vice President. Ed.J.Neer, End.Vice President, T.E.Mears, Director. the following proceedings wore hsd,to wit:On motion duly,mado,and carried Mary D.Williamson, was elected a director of said'bank. All directorspresent voting for ouch motion,and her election as such declared.On motion duly made and oerried,Mary O.Williamson, was then duly elected President of the Board ofDirectors of said bank,in lien of G.M.Nilliamson, deceased. In witness whereof that the above and foregoing were the proceedings had on said date,we hereunto set our hands and seals,the day and year first above written. N,V1 Chairman. Se etnr . E(1 266 July/August Whole No. 256 • Paper Money Mary C. Williamson, National Bank President By Karl Sanford Kabelac MARY C. WILLIAMSON SERVED AS PRESIDENTof the First National Bank of Portales, New Mexico (founded in 1902, Charter #6187) for almost a year, from May 11, 1920, to March 9, 1921. She became president after the death of her husband, George M. Williamson, who had died on March 8, 1920. She relinquished the position when, in the settlement of his estate, the stock that had been owned by him was transferred to a group of Portales businessmen. She was born Mary Cox on July 3, 1872. Her father was a prosperous rancher in Brazoria County, Texas. As a young woman she was courted by Williamson, who was sev- eral years her senior. He was the resident manager of the JR Ranch in Crosby County, Texas, a ranch owned by his uncle by marriage. They were married on December 31, 1895, and spent the first years of their marriage at the ranch. In 1902 they moved to Portales, a new commu- nity in east central New Mexico, about 15 miles from the Texas border. Williamson began a suc- cessful career in the cattle business. They were active in the community. He was a Mason and she was a member of the Eastern Star and the Portales Women's Club. In July 1917, he was a leading partner in assuming the ownership of the First National Bank of Portales. The news- paper account noted his "sound business sagacity, good judg- ment and fair dealings with the public." But hard times were ahead. The winter of 1918 was espe- cially cold, and then the following summer very dry, making it costly to maintain cattle. Then the market price of cattle col- lapsed. Williamson himself became ill and, writing his will in late February 1920, died the next month at the age of 56. Within a year of relinquishing the bank presidency, Mary Williamson moved to San Diego, CA. She died there on February 25, 1926, of cancer at the age of 53. She was sur- vived by their two children. The bank itself continues to this clay in Portales as a Wells Fargo Bank. Sources and acknowledgments The George M. Williamson and associates purchase of the FNB of Portales is found in The Portales Valley News for July 27, 1917; his obituary is found in the same newspaper, March 11, 1920; and the transfer of the Williamson bank holdings is in the March 10, 1921, issue. Helpful articles on the history of the bank are found in the Portales News-Tribune, April 4, 1972. Williamson's career at the JR Ranch and his courtship and marriage to Mary are found in J. C. McNeill, The McNeil/s' SR Ranch: 100 Years. in Blanco Canyon (1988); and sum- marized in the entry for the SR Ranch in the online version of The Handbook of Texas. Mary C. Williamson's death certificate is filed in the San Diego CA County Clerk's Office. The research skills and assistance of Janelle Foster of Portales NM are gratefully acknowledged. Minutes of the bank's Board of Directors, May 11, 1920, and March 9, 1921, recording the election of Mary C. Williamson as president and her resignation. At a call matting of Board of Directors ofthe First National Bank of Portales, New Mexico. onthe 9th. day of March, IPA., the following memberswere present: Mary C. Tilliamson, Chairman,Tm. Reagan, Secretary,Ed J. Weer.J. B. Priddy,C. 0. Leach. The following proceedings were had to-wit: Mary C. Tillianson tendered her resignationas president and director of said hank. Same wasaccepted. '''m. Reagan tendered his resignation asActive-Yice President and director and same wasaccepted. C. 0. Leach tendered his resignation asdirector of said bank and same was accepted. There being no further business before theBoard the meeting adjourned. 772,o, 6, ://1//,4 1, Chairman. Secretary. Paper Money • July/August • Whole No. 256 267 Silver Certificate Series of 1934A G-A $5 Mules by Jamie Yakes THE SERIES OF 1934A FACE PLATES WERE THE FIRST $5 SILVER CERTIFICATE PLATESengraved with macro plate numbers. They were initially used for production on January 14, 1938. All the available back plates at this time were micros so the early Series of 1934A production was exclusively mules. Macro backs came online in March, and mule production became increasingly diluted with non-mules until the last of the regular micro backs wore out in 1940. Series of 1934A mules can be found overprinted with serials in the D-A, E-A, F-A, G-A, and H-A blocks. The trend was that the mules became increasingly scarcer as production progressed into the G-A and H-A blocks. D-, E- and F-A Blocks The D-A, E-A and F-A blocks were completed by the fall of 1939, and used most of the available produc- tion of micro back sheets during the year. Finding a 1934A mule from one of these blocks is not very difficult. There are short, Uncirculated runs of these varieties, making them relatively common. In fact, no D-A non-mules are reported. It appears that macro-back sheets were first serial numbered just after the last D-A serial was printed. G-A Block In comparison to the other blocks, the G-A block falls in the middle in terms of availability. The beginning of G-A overprinting caught sufficient micro-back production that notes are available, but most production was non- mule. My observations on the G-A serials reveal that this mule variety is much scarcer than current prices would have one believe, especially in Uncirculated condition. H-A Block The H-A block is a small-size rarity. The current census contains only three notes, with the highest report- ed serial being a low H01998115A. Serial numbers were first printed on this block in the spring of 1940, which is well after all but one of the micro back plates was removed from service. This last micro back plate, 905, was taken out of service February 15, 1940. Sheets printed from this plate lasted long enough to have been available for the initial H-A overprinting later that year. Late Micro Back Production Overprinting of the G-A block began sometime during September or October 1939. There were only three micro back plates in production then; these were the only ones used after August 1939. Table 1 shows the usage for these plates. Table 1- Usage of $5 micro-back plates after August 1939. Plate Serial Dates Sent to the Press Micro 902 Jan 2, 1938 to Nov 2, 1939 Micro 905 Jul 20, 1939 to Dec 13, 1939 Dec 21, 1939 to Feb 14, 1940 Micro 938 May 11, 1939 to Sep 5, 1939 Notes: Production from these active plates appears on the G-A mules. (Figures 1, 2, and 3.) 268 July/August • Whole No. 256 • Paper Money TRt...SURV G42352311 A nU5kTaMinig---'39— inawar10100-. .111Dir; '(' ';' .777'f'";'''' Frio Es TN, THERE ISO,. REPo rr THIllia ,-- c LT-ENDER -- PRIvaTE Figure 1. Mule G42352311A, plates C998/902. This note was printed during late 1939. 642352311 A VIES TH, 7HBRE 15 ON 0.061,1 IC°4 G73777024 A THIS CERT FOR ALL RI MU. TENSER PRIM( Figure 2. Mule G73777024A, plates D1056/905. This note was printed in the spring of 1940. Back plate 905 is also found on the rare H-A mules. WASULN6TON,1).4:. riA L__G73777024 K ILEAUEU ON ”Inf.11%1■ G11485217A THIS GER, AU.D E 0 TN, 'THERE 1ES ON DIPoBIT IN TMETNC18t.,xliAtiontiftlakivrz._ 41121j" TENDER PRIVATE Figure 3. Mule G11485217A, plates K976/938. Printed during autumn 1939. Back plate 938 is the highest number assigned to a $5 micro back plate. G11485217 A '.1ED haLllint eLYrr',A ',",,WI. 101-riUl-SaTitE.R70r3119"11"E, qaelita41.-''. ,Y\ fr, ... ■01041WSCRWIll 4 lin Or ..,... '`'''.........•,-,1k `............) '''''' .,----- --, ir‘,. 1 4411A, G15827367A OR SALDEB T Figure 4. Mule G15827367A, plates 1929/895. This note was printed uring the autumn of 1939. This back plate was last used in January of 1939. G15827367 A SERIES 0, 1.34 .4 WASIIINGTON.D.C. G10359180A THIS CERT FOR ALL 0 Figure 5. Mule G10359180A, plates F972/896. This note was printed during the fall of 1939. Along with back plates 895 and 901, 896 was used for the final time in January, 1939. G46891089 A THIS Cr. OR At1.04 ALTENDER N O PRIVATE G46691089A IERIES Or ■Baa WASHINGTON.D.C. Figure 6. Mule G46691089A, plates A997/901. This note was printed late in 1939 with a back plate that was printed in January of that year. (Image courtesy of Currency Auctions of America) STORY Am, 1 Our Fu . ar Subscr COINS • CURRENCY •AUTOGRAPHS ERICANA • MAPS Important 'Iaterial • !thorn. Dana !.inert Tod.Consign No NOW Available o- Otiline www. EarivAmerican • con . t 0333t-,„-- Reeet $72 fOr trated Cala! )e Online or of Six Bimonth Printed Cutu d Paper Money • July/August • Whole No. 256 269 In addition, other micro backs from stockpiled sheets were used to produce these mules. These included production from micro backs 895, 896 and 901. These three plates left the presses on January 27, 1939. • G15827367A has back 895, but was numbered in early autumn 1939, eight months after the plate wore out. (Figure 4.) • G10359180A, with back 896, was also numbered m the early fall of 1939. (Figure 5.) • G46601089A has back 901. Although the back wore out in January 1939, it was numbered later that year, most likely in December. (Figure 6.) These notes prove the fact that sheets from these plates were being used from stockpiled supplies. The reported H-A specimens all use micro 905, the last regular micro back used. They too were printed from stockpiles that lasted several months beyond the last use of that plate. Conclusion Series of 1934A $5 Silver Certificate mules are common except for the G-A and H-A blocks. The scarcity of G-A mules is attributed to (1) the diminished supply of micro back plates and (2) the increased availability of macro backs by the time this block was produced. Some G-A mule production was from stockpiles of previously printed micro backs including 895, 896 and 901, all of which had been taken out of service long before the block was numbered. Acknowledgements Jim Hodgson provided scans of the notes in Figures 2 and 3. Peter Huntoon provided technical assistance. References Currency Auctions of America/Heritage Auctions Galleries. Permanent Auction Archives. Huntoon, Peter, "U. S. Small-Size $5 Mules," Paper Money, vol. 36, whole no. 192 (Nov/Dec 1997), pp. 179-190. Yakes, Jamie. "$5 1928C Legal Tender FA Mules and $5 1934 Silver Certificate HA Mules: Cousins in Production and Rarity." Paper Money, vol. 46, whole no. 252 (Nov/Dec 2007), p. 424-426. v EARLY AN FR1CAN • P.O. Box 3507 • RANCHO SANTA FF., CA 92067 (858) 759-3290 OR FAX (858) 7594439 • Auctions@EadyAmericattcom Paper money anybody? Taken three years ago at a Mansfield Numismatic Society show, L-R Don Gilletti (now deceased), John Schwartz, John Ferreri, and Mike Crabb share an informal candid moment. 270 July/August • Whole No. 256 • Paper Money Krause award honors former SPMC board member Ferreri S PMC REGIONAL MEETING COORDINATOR Judith Murphy called our attention to a pleasant "right of passage" in the hobby arena recently. Longtime SPMC board member, C. John Ferreri had been presented the coveted Krause Publications "Numismatic Ambassador" award for hard work within the hobby. It wasn't news to Paper Money that Ferreri (SPMC mem- ber #2570) has been active shouldering the volunteer load. He was SPMC Treasurer from 1976-1979, and Governor for 22 years, 1979-2001. He also has served the Society as Awards Chairman, Nominating Chairman, and Publicity Chairman. Ferreri has also won several SPMC literary awards. We'll quote liberally from Krause Publications executive Dave Harper's account "I have just returned from a one-day show put on by the Mansfield Numismatic Society in Willimantic, CT.," Harper wrote on his internet blog several months ago. "It was held Sunday, March 30. I spent yesterday morning- in transit. "My mission was to give two Numismatic Ambassador Awards. The award is given to hobby work- ers and volunteers who make orga- nized numismatics what it is. "The first recipient was C. John Ferreri. He has been the show chairman since the first one in 1973. The place the award was given was at the entrance to the old high school gymnasium that is the location of the 75-table show. "Roger Durand blew the whis- tle at about 11:50 a.m. like a high school basketball referee and the room became silent — if you can imagine such a thing on a bourse floor. However, I had spent more than half an hour prior warning dealers at their tables that it was going to happen and not to think something was wrong. "I cited Ferreri for his work with the MNS and many in the room spontaneously clapped. "As the president of the MNS said, afterwards, 'John is the man. He's the life blood of the club.' "As a surprise, we had persuaded the second recipient to travel down from the Boston area to be present to see Ferreri receive his award. Then the second award went to Tom Rockwell of North Andover. He is, I believe, 96 years old, and he has been a stal- wart in three clubs, the Boston Numismatic Society, where he has been secretary, the Currency Club of New England, where he has also been secretary and the Boston Numismatic Society, where he has been treasurer. "Adding all of the terms together, he has spent about 100 years as a hobby volunteer, according to Durand's arithmetic. "'I never thought I'd get it,' the surprised Rockwell told me over and over again as we posed for photos with the plaque. "Well, the people at the show thought it was about time they both got the awards. I was happy to be in the right place at the right time to make it so. "Then it was back to business," Harper added. Paper M0719, asked the modest voeman to give us some background on his hobby activities. "I am still digesting the fact that I even got the award," Ferreri wrote. "As I look through the catalogue of past ambas- sadors I see pictured different folks who were well known on the national scene for writing, being active in major conven- tions, instituting and promoting certain activities such as with junior members. These are people who you would see at all the major shows or perhaps know them by their association with the board at the ANA. These folks were in position to use their influence and knowledge and used it wisely for the good of the hobby. "The experiences I have enjoyed the most in our hobby are first, being one of the founders of our local club, the Mansfield Numismatic Society. Sally Kirka,(deceased) anoth- er ambassador and also from Connecticut along with brother Chet Grabowski, (still an active dealer) and close friend Herman Krajewski, (deceased) led guidance to our efforts," Ferreri recalled. "More recently, my son Eric, now reporting for the News and Observer in Raleigh / Durham / Chapel Hill, NC gave me many ideas on how to contact and promote club activities in the world of print. "We sponsored a show within our first year and then I seemed to have inherited that job because I was the one with most outside collector and dealer contacts. So, putting on the show, publicity and meeting activities became my job for the next 35 years. "Soon after that I became involved with SPMC and held the Treasurer's post for several years. That was -a very enjoy- able time during my collecting career. At that time I had the Paper Money • July/August • Whole No. 256 271 Letters to the Editor r Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 314-878-3564 ROB'S COINS & CURRENCY P.O. Box 6099, Chesterfield, MO 63006 Dear Fred, The following is a curious item I have come across, that you may use in the magazine: A fellow in Michigan was lately robbed of $14,000 in Wild Cat money. He very generously offers a reward of 25 cents for his pocket book, provided the thief will keep the money. (Columbus (MS) Democr4t of June 8, 1839) -- regards, Clifford Thies Dear Fred, I am a relatively new member to SPMC, after having collected for many years. Are any articles planned on Colonials and/or Continentals? -- thank you, Anthony Bongiovanni Jr. Editor's Note: How about it readers? I love to run some articles on our earliest currencies. -- Fred Reed v Currency Conservation & Attribution LLC • To learn more about this holder: • go to www.csacca.corn • email us at infoCacsacca.com The Best of Class • or mail us at 321 Seventh Street, Mead, CO 80542 Confederate Currency Holder time to travel to Memphis and other show destinations. "Who would not enjoy gabbing with the likes of John Muscalus, George Wait, Dick Hoober, Grover and Clarence Criswell, Jim Curto, Warren Henderson, Ralph Goldstone, George Hatie, Frank Sprinkle, Bob & Betty _Medlar, Burnell Overlock, Owen Warns and other trailblazers of the hobby?" Ferreri continued. "One statement made by our member Rov Pennell at the first SPMC board meeting I attended stuck with me all these years. Roy was speaking to the board and was remind- ing it about the an important duty we have as an organiza- tion of collectors with somewhat more knowledge of the subject than the ordinary `Joe.' "He said that an important function of SPMC is to disseminate the knowledge we have gathered in order to inform oth- ers. Disseminating knowledge through club programs, club shows and publica- tions seemed to be the best way to do it so John and his better half, his wife Sue, pose for a lensman at the West Point Museum. these became my venue for this task. "One blessing I have had all these years has been a dedicated core of mem- bers who have unselfishly aided me with these projects, some for as many years as I have been active. We can be proud that our local club has accomplished so many things over the years," Ferreri added. Well said, John. 272 July/August • Whole No. 256 • Paper Money Graphic artist offers followup to plate printing article Dear Mr. Reed, As an artist who has created a number of intaglio prints, I sympathized with Terry Bryan's attempts to achieve good proofs from his ABNCo plates (March/April 2008 Paper Money). Even with professional instruction, I had to learn much in the printing arts by trial and error; for Mr. Bryan to produce respectable images with little guidance was quite an accomplishment. Let me contribute a few tips for those who wish to make their own proofs. I would first recommend picking up a book on intaglio printmaking techniques. The majority of writing in these books will be on etching and engraving the plate, but the chapters on printing will be of great assistance. Before inking a plate I clean it with either alcohol or ammonia mixed with whiting powder. I warm the plate before inking. It is impor- tant to use an etching ink, not a lithographic ink, or a writing ink, as Mr. Bryan discovered. Graphic Chemical Company of Illinois (graphicchemical.com) sells the inks I use. They even make a "Graphic Etching Bank Note Black Ink", which is more expensive than their other blacks but it is very opaque. I apply the ink with a bit of surplus matting, and then I wipe the excess ink off with a fabric called tartetan, which is basically starched cheesecloth. For the final wipe I prefer to hand wipe. This final wiping is where the real artistry comes into play. The hand must move quickly and sharply, but without much pressure on the plate. If the hand wipes too far it will smear the ink. Working around the plate with a series of short wipes, I wipe and chalk my hand between wipes to dry any oil picked up on the previous stroke. Choosing a good paper is extremely important. The num- ber of choices available from printmaking supply houses can be dizzying, but I would suggest either Arches Cover or Rives BFI as excellent papers to start with. Avoid the thinner Japanese papers until you are more adept at printmaking. Printmaking papers can be can be purchased on-line through any number of art suppliers, such as Dick Blick (dickblick.com) or Graphic Chemical (graphicchemical.com ). Mr. Bryan was correct to instruct that the paper must be dampened before printing, but it takes more than a quick spritz to get good results. Let the paper sit in a tub of water for a good 15 minutes of more, then blot it to remove any excess before printing. Now we come to the most problematic stage, the actual printing. Without a roller press, getting a good proof will be quite difficult, as Mr. Bryan discovered with his clamps. Many art schools' continuing education programs or art associations offer printmaking classes. Enrolling in a class will give you an opportunity to use their press. The instructor would certainly be thrilled to see the artistry of one of these old bank note plates brought to life. If you can't find a class, you might try contacting a printmaking artist in your area. Remember that the artist's press is a prized possession and he or she will be unlikely to let you lay a hand on it, but for a fee the artist might be willing to print your proof. If you are serious about printing your plates, buy your own press. The Dick Blick Econo Etch Model II Press at $366 has a reputation for being one of the best values in an entry level press. \Vhen you con- sider that the ABNCo plates are now selling for thousands of dollars, the expenditure for one of these presses is quite rea- sonable. One final option I can offer is that I would be willing to print proofs for SPMC members for a reasonable fee in my studio. I would prefer to make proofs from small vignette plates, not full-size bank notes. Those interested may write me at jonsmall@cox.net . I was recently drawn to collecting bank note plates and proofs while researching my ancestor, Stephen A. Schoff (1818-1904). I have inherited or purchased a number of pieces relating to his work in the bank note field, and I hope to write some future articles about his story for Paper Money. Thank you, -- Jon Small Middletown, RI Editor's note: Thanks John for this excellent information. We look forward to your articles on Mr. Schoff. Paper Money • July/August • Whole No. 256 273 More wheresgeorge notes show up in change WASH LNGTON, D.C. Dear Fred, I got one of those marked bills in change, and wouldn't have paid any attention to it, if you hadn't written about them in Paper Money. So I'll share it with readers. TOR UiSTURa STATE eevtt8re kowg.W4Va.rie wheresgeorge.com According to the wheresgeorge database the note was entered at Derby, KS on Sept. 22, 2007. Five days later it hit in Wichita, KS, and I got it April 20th (nearly seven months later) in Norman, OK. Three days later, the note (at right) was reported in Dallas, TX. -- regards, Loren Gatch United States Paper Money special selections for discriminating collectors Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type Error Notes Small Size Type National Currency Star or Replacement Notes Specimens, Proofs, Experimentals Frederick J. Bart Bart, Inc. website: www.executivecurrency.com (586) 979-3400 PO Box 2 • Roseville, MI 48066 e-mail: Bart@executivecurrency.com Dear Loren, Thanks for sharing your bill. I'll share one I got recently too. I also got my marked bill in Norman, OK. I received it in change from a concessionaire at a University of Oklahoma basketball game on Jan. 27. OU won and I came home with a sou- venir (shown at left). Go Lady Sooners! When I reported it the next day, boy was I surprised. In the "com- ment" area, the first spender had appended his girlfriend's photo. .109113:10001111/11.1GTRIMSUMELIVIENT4010100 Si K 00 MISINSIM/' I/ been rack cto natal- , www.wheresgeorge.q4m 1 ag I" • r BTW it entered the database on Jan. 16 at nearby Yukon, OK. We'll see where it shows up. -- Fred • BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or .. . Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: lhorwedel@insightbb.com website: horwedelscurrency.com XelEACIONSIECAL • WE NOTE 5 k L " I45 1110.11101(„'i ► YIRAL CV, K 00 410•10ii 11 IffiSTITE141Strik The 274 July/August • Whole No. 256 • Paper Money The Clements of Rutland, Vermont Gave it Two Tries BIG SURPRISE IN NOVEMBER 2004, WAS DISCOVERING A Series of 1875 5-5-5-5 certified proof for The Clement National Bank of Rutland, Vermont (Charter #2537) among the BEP proofs in he Smithsonian holdings. What makes the proof special is that the officers of the bank never completed the process of organizing. However, a later bank with the same title, but Charter #2950, was organized, and first issued Series of 1882 Brown Backs. This is the story of this most interesting proof, the bank, and the Clements. The Two Clement National Banks Charles Clement began organizing The Clement National Bank of Rutland, VT, on June 20, 1881. Waldo P. Clement, his youngest son, was list- ed on the organization certificate as the cashier. The Comptroller of the Currency awarded Charter #2537 to the bank three days later, upon the deposit of $35,000 in 3.5% bonds to secure their currency, and a $5 Series of 1875 plate was ordered. However, something went amiss. The bonds were sold August 1st, and the bank was liq- PAPER COLUMN uidated that same day. In a foot-note in his 1882 Annual Report, Comptroller John Jay Knox stat-by Peter Huntoon ed that the bank "failed to com- plete organization." In the meantime, a beautiful $5 Series of 1875 plate was pre- pared for the bank, and certified for use. It carried a batch date of July 30, 1881, which is close to when the plate was ordered. It also carried the then current Bruce-Gilfillan treasury signatures. The Clements came back 21 months later with a second bank bearing the same title. Charles was again the president, but this time he chose an older son, Percival W., as the cashier. They organized on April 21, 1883, and received Charter #2950 on May 14. By year end they had a respectable circulation of $76,500. They were in competition with four other banks in Rutland: The Rutland County National Bank (#820), The National Bank (#1450), The Baxter National Bank (#1700), and the very recently chartered Killington National Bank (#2905). All the oth- ers were larger, with greater circulations. The Clement bank stayed in business through the rest of the note-issuing era, closing out 1934 with a circulation of $100,000. The tale of the two Clement National Banks is extraordinary. It involves the only example we have found of a Series of 1875 plate being made for a bank that never issued. Failing to complete an organization once chartered was highly unusual, if not unprecedented. Adding to the story is the fact that when the second Clement bank was organized, Comptroller Knox had already taken it upon himself to phase out the Series of 1875. Consequently, the second Clement hank received Series of 1882 notes, specifically 5-5-5-5 and 10-10-10-20 Brown Backs. This situation would have been interesting regardless of what plates were made, but having the two banks bridge the changeover in series makes this case particularly appealing. THE ,.ic=f2to tz:zzlio itk; Uri s 0 71, 14 t ' Havil 1 ,1), t ( Vul, Vht:VbCtilt• itY‘' 1)(Alkvake1/4 , -47 ,, ,i0N1` 4,/,,.,./// 5.s .';70=1P132,11.,CP=0,5;7:7P1-' ) .__.11X :111CC=1:90X=i'.CLI:12). it ALI-1'011a -'Bank „elf LA rij F 1 M rs A 47,-,tro.v1' r0 .11: ) I) 4ZAZROATA.WritraltitO :K.1).:1))0n7dAitAa) 0W 02=s:1 2 .) -1GAL Paper Money • July/August • Whole No. 256 275 The Clements The following biographical sketch of the Clements is copied verbatim, but abridged, from a description of the Clement Family Papers housed in the -Vermont Historical Society. The Clements were a prominent family in business and politics in Rutland, Vermont. Charles Clement had an early interest in marble quarries, operating Clement and Sons with his two oldest sons, Wallace and Percival. He was also part owner of the Rutland Railroad and the Clement National Bank. -Wallace continued his father's businesses after his death in 1893, and Percival carried on the family interest in railroads, while publishing the Rutland Herald. He also became active in politics and was elected governor in 1918. Charles Clement was born in Haverhill, Massachusetts, May 1, 1807. He married Elizabeth Wood (1807-1904) in Sherburne, Vermont, in 1831. They had eight children: Wallace Charles (1835-1921); Frederic Percival (1838-1841); Anna Elizabeth (1840-1876); Melville Wood (1842-1843); Herbert Rogers (January, 1844-June 1844); Percival Wood (1846-1927); Fayette Rogers (1849-1850); Waldo Park (b. 1851). Charles Clement died in New York City, November 24,1893. The Clement National Bank received Charter #2537 in 1881, but the Clements failed to complete its organi- zation. However, this attractive plate was made for the bank just days before it was formally liquidated. The Clements received $5, $10, and $20 Series of 1882 Brown Backs as their first issues upon perfecting their second bank, Charter #2950, in 1883. The 21-month hiatus between the two organizations bridged the gap between the Series of 1875 and 1882. Charles Clement and Elizabeth Wood, after their marriage in 1831, moved west to Evansville, Illinois, where Charles tried to set up a business. Some members of the Wood family also moved to Illinois where there are several deeds for land in Tazewell County, Illinois, bear- ing their names. Charles and Elizabeth returned to the east coast in 1839. Charles became involved in the Rutland marble business in 1851, ***110iktiirat its F 03543 6 F 035 143938 * 6 92-140., Am.yr.,24Z199 -- oLt-S-t 4 276 July/August • Whole No. 256 • Paper Money forming the firm of Clement and Son which eventually included two of his sons, Wallace and Percy. He also founded the Clement bank in 1883; it too became a family concern. Charles also had an interest in the rail- road business and became part owner of the Rutland Railroad in 1882. Source of Clement Biographic Information Vermont Historical Society Library, Clement Family Papers 1798 1968, Documents 187 194, accessible on the web at http://www.vermonthistory.org/ arccat/findaid/clementatm [.1 Acknowledgment This work was supported by a grant from the Currency Club of Long Island. James Hughes, collections manager, National Numismatic Collection, Museum of American History, Smithsonian Institution, provided access to the certified proofs from the National Bank Note plates. True story! One of my friends related this story to me recently By Bob Cochran THE $2 BILL -- EVERYONE SHOULD START CAR-lying them! I am STILL laughing!! I think we need to quit saving our $2 bills and bring them out in public. The younger generation doesn't know they exist. This is a true story, just as told to me: On my way home from work, I stopped at a fast food emporium for a quick bite to eat. In my billfold were a $50 bill and a $2 bill. I figure that with a $2 bill, I can get something to eat and not have to worry about anyone getting irritated at me for trying to break a $50 bill. Me: "Hi, I'd like one seven-layer burrito please, to go." Server: "That'll be $1.04. Eat in?" Me: "No, it's to go." At this point, I open my billfold and hand him the $2 bill. He looks at it kind of funny. Server: "Uh, hang on a sec, I'll be right back." He goes to talk to his manager, who is still within my earshot. The following conversation occurs between the two of them: Server: "Hey, you ever see a $2 bill?" Manager: "No. A what?" Server: "A $2 bill. This guy just gave it to me." Manager: "Ask for something else. There's no such thing as a $2 bill." Server: "Yeah, thought so." He comes back to me and says, "We don't take these. Do you have anything else?" Me: "Just this fifty. You don't take $2 bills? Why?" Server: "I don't know." Me: "See here where it says legal tender?" Server: "Yeah." Me: "So, why won't you take it?" Server: "Well, hang on a sec." He goes back to his manager, who has been watching me like I'm a shoplifter, and says to him, "He says I have to take it." Manager: "Doesn't he have anything else?" Server: "Yeah, a fifty. I'll get it and you can open the safe and get change." Manager: "I'm not opening the safe with him in here." Server: "What should I do?" Manager: "Tell him to come back later when he has real money." Server: "I can't tell him that! You tell him." Manager: "Just tell him." Server: "No way! This is weird. I'm going in back." The manager approaches me and says, "I'm sorry, but we don't take big bills this time of night." Me: "It's only seven o'clock! Well then, here's a two dollar bill. Manager: "We don't take those, either." Me: "Why not?" Manager: "I think you know why." Me: "No really, tell me why." Manager: "Please leave before I call mall security." Me: " -What on earth for?" Manager: "Please, sir." Me: "Uh, go ahead, call them." Manager: "Would you please just leave?" Me: "No." Manager: "Fine -- have it your way then." Me: "Hey, that Burger King, isn't it?" At this point, he backs away from me and calls mall security on the phone around the cor- ner. I have two people staring at me from the dining area, and I begin laughing out loud, just for effect. A few minutes later this 45-year-oldish guy comes in. Guard: "Yeah, Mike, what's up?" Manager (whispering): "This guy is trying to give me some (pause) funny money." Guard: "No kidding! What?" Manager: "Get this ... A two dollar bill." 17 mon ar. THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC' AND PRIVATE elrl II i IiI11II1111 Ii Paper Money • July/August • Whole No. 256 Guard (incredulous): "Why would a guy fake a two dollar bill?" Manager: "I don't know. He's kinda weird. He says the only other thing he has is a fifty." Guard: "Oh, so the fifty's fake!" Manager: "No, the two dollar bill is." Guard: "Why would he fake a two dollar bill?" Manager: "I don't know! Can you talk to him, and get him out of here?" Guard: "Yeah." Security Guard walks over to me and ... "Mike here tells me you have some fake bills you're trying to use." Me: "Uh, no." Guard: "Lemme see 'em." Me: "Why?" Guard: "Do you want me to get the cops in here?" At this point I am ready to say, "Sure, please!" but I want to eat, so I say "I'm just trying to buy a burrito and pay for it with this two dollar bill." I put the bill up near his face, and he flinches like I'm tak- ing a swing at him. He takes the bill, turns it over a few times in his hands, and says, "Hey, Mike, what's wrong with this bill?" Manager: "It's fake." Guard: "It doesn't look fake to me." Manager: "But it's a two dollar bill." Guard: "Yeah?" Manager: "Well, there's no such thing, is there?" The security guard and I both look at him like he's an idiot, and it dawns on the guy that he has no clue. So, it turns out that my burrito was free, and he threw in a small drink and some of those cinnamon thingies, too. Made me want to get a whole stack of two dollar bills just to see what happens when I try to buy stuff. If I got the right group of people, I could probably end up in jail. You get free food there, too. Just think ... those two will be voting soon. E F3 r_f CI 'D 'D HIGGINS MUSEUM 1507 Sanborn Ave. • Box 258 Okoboji, IA 51355 (712) 332-5859 HIGGINS www.TheHigginsMuseum.org MUSEUM email: ladamsgopencominc.com Open: Tuesday-Sunday 11 to 5 Open from mid-May thru mid-September History of National Banking & Bank Notes Turn of the Century Iowa Postcards EP r_P c_f El Coming to Paper Money War of 1812 Treasury Notes by the late Forrest Daniel You are invited to visit our web page www.kyzivatcurrency.com For the past 8 years we have offered a good selection of conservatively graded, reasonably priced currency for the collector All notes are imaged for your review National Bank NoteS LARGE SIZE TYPE NOTES SMALL SIZE TYPE NOTES SMALL SIZE STAR NOTES OBSOLETES CONFEDERATES ERROR NOTES TIM KYZIVAT (708) 784-0974 P.O. Box 451 Western Sprints, IL 60558 E-mail tkyzivat@kyzivatcurrency.com !tlNPERifONK1 ;tier* nl■ COLLMORS 277 3( (/ ' ';' / !rift' #11 3/."E 7154IFi T EZ S `..r Ai T e S of vi' .fiT2 ER 5 C ,,,4' deb:midge tEe 1 R'eceipt ()f 7911R gfentlredDolCars from whieb,they proqzif to pay to the jitid , , . .. , or 2earer, on the Day of with V.aterilt annually, at tge Rate of Six per Cent. per ..gnmint, agreea0:: to a Iteforation of the United States, palled the Twenty-Suoml Day of Fe- ahrtnny, t 777. Witnefs my Hand this ... .... "' Day of ' .. - — C ...Inno Down] .... 278 July/August • Whole No. 256 • Paper Money Chronological Inventory of United States Public Debt Issues, 1775 — 1898 as listed on EH.Net , the Economic History Services web site illustrated by examples from Gene Hessler's An Illustrated History of U.S. Loansw-MCOME TO A LISTING OF PUBLIC DEBT issues by the United States Treasury and its predeces- sors from 1775 to 1898. This is a portion of the listing of U.S. Treasury debt issues through 1976 compiled by Dr. Franklin Noll of the BEP's Historical Resource Center. The database is hosted by Economic History Services at http://eh.net/data- bases/uspublicdebt. Issues are listed by accounting year (cal- endar year until 1843 and fiscal year thereafter). For each year, issues are grouped by type of instrument. This was determined according to the financial terms of the instrument (primarily length of maturity) and, when available, the Treasury's official designation of the security. Within each grouping, instruments are listed in alphabetical order. Any dates appearing in square parentheses, especially in the case of Treasury bills, represent exact issue dates. This listing contains only public debt issues. It does not include Treasury issues for other types of debt (rail- road debt, insular debt, District of Columbia debt, or contingent debt) nor warrants or other drafts used by the Treasury for payment or accounting purposes. The entire database contains roughly 13,000 individual issues. Certain instruments may be issued repeatedly over a number of years. In these cases, each instance of issue is considered a separate instru- ment. The compiler does not claim to have recorded every single instrument ever issued because the Treasury records are full of gaps and omissions. So, Dr. Noll considers this a work in progress. He wel- comes any comments, corrections, or additions. The majority of the inventory was created as part of a larger project, Dr. Noll's unpublished 10- volume work, A Guide to GOVer71 771ent Obligations, 1861 - 1976. This is a detailed compendium of the securities issued by the Treasury between 1861 and 1976, and includes the financial terms and purpose of each security as well as a glossary of little-known Treasury terms. These stud- ies were created for the use of the Historical Resource Center of the Btireau of Engraving and Printing, Washington, DC. "The pre-1861 part of the inventory was filled in later, using a number of different sources. In all, the sources used in the creation of the complete inventory were rather numerous and sometimes obscure. I present only the major ones here," Dr. Noll said: Annual Report of the Secretary of the Treasury on the State of the Finances. Washington, DC: Government Printing Office, 1860-1976. Bayley, Rafael A. The National Loans of the United States from July 4, 1776, to June 30, 1880, 2nd ed., facsimile reprint of 1881 ed. New York: Burt Franklin, 1970. De Knight, William F. History of the Currency of the Country and of the Loans of the United States from the Earliest Period to June 30, 1900. AVashington, DC: Government Printing Office, 1900. Friedberg, Arthur L. and Friedberg, Ira S. Paper Money of the United States. 16th ed. Clifton, NJ: The Coin & Currency Institute, 2001. Hessler, Gene. An Illustrated History of U.S. Loans. Port Clinton, OH: BNR Press, 1988. Love, Robert A. Federal Financing: A Study of the Methods Employed by the Treasury in Its Borrowing Operations, reprint of 1931 ed. New York: NMS Press, 1968. "Monthly Statement of the Public Debt." URL: http://www.publicdebt.treas.gov/opd/ opd.htm. Former Paper Money Editor Gene Hessler, author of An Illustrated History of U.S. Loans (BNR Press, 1988) gratiouslv loaned most of the representative illustrations accompanying this listing. Several additional illustrations were supplied by and Heritage Auctions. Dr. Noll's work was produced at the Historical Resource Center, Bureau of Engraving and Printing, Washington, DC Feb. 22, 1777 Continental Loan Office Certificate while the author was under contract to Byther Managing Collections, LLC. The views, conclusions, and opinions stat- ed therein are those of the author and not necessarily those of the Historical Resource Center or the Bureau of Engraving and Printing. The author also bears all responsibility for the accuracy of all dates, numbers, calculations, citations, names, and other salient facts, Dr. Noll stressed. The mission of the Historical Resource Center is to col- lect, document, and preserve the history of the Bureau of Engraving and Printing and its products. The HRC serves as a resource for research and dissemination of information con- cerning Bureau of Engraving and Printing history and prod- ucts. Paper Moncy is delighted to share the fruits of this labor. CALENDAR YEAR JANUARY 1, 1775 - DECEMBER 31, 1775 Certificates: Loan Office Certificates of June 3, 1775 Currency: Continental Currency Now available FLORIDA JPA1PEH NEV I It - I ‘. ".-1 7031,V 811.A5 at. 9EC/41111= Fr,.■ Flccd Ron Benice "I collect all kinds of Florida paper money" 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 Benice@Prodigy.net Books available mcfarlandpub.com , amazon.com , floridamint.com, barnesandnoble.com, hugh shull Harlan J. Berk, Ltd. "The Art & Science of Numismatics" 31 N. Clark Street Chicago, IL 60602 312/609-0016 • Fax 312/609-1305 www.harlanjberk.com e-mail: info@harlanjberk.com A Full-Service Numismatic Firm Your Headquarters for All Your Collecting Needs PNG • IAPN • ANA • ANS • NLG • SPMC • PCDA MYLAR D® CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4-3/4" x 2-1/4" S22.50 $40.50 $180.00 $320.00 Colonial 5-1/2" x 3-1/16" $23.00 $42.00 $195.00 $350.00 Small Currency 6-5/8" x 2-7/8" $23.50 $45.00 $200.00 $375.00 Large Currency 7-7/8" x 3-1/2" $26.50 $49.50 $220.00 $410.00 Auction 9 x 3-3/4" $29.00 $53.00 $250.00 $450.00 Foreign Currency 8 x 5 $33.00 $60.00 $275.00 $485.00 Checks 9-5/8 x 4-1/4" $33.00 $60.00 $275.00 $485.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8-3/4" x 14-1/2" $20.00 $88.00 $154.00 $358.00 National Sheet Side Open 8-1/2" x 17-1/2" $21.00 $93.00 $165.00 $380.00 Stock Certificate End Open 9-1/2" x 12-1/2" $19.00 $83.00 $150.00 $345.00 Map & Bond Size End Open 18" x 24" S77.00 $345.00 $625.00 $1425.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 10 pcs. one size). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar D® is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 51010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 See Paper Money for Collectors www.denlys.com Paper Money • July/August • Whole No. 256 Wanted Your advertising in this Space 279 , - 1117,. / 4 -11zZat r1":9.TS Bill entitles `-'• • ".--& Hearer to lriceire ASIrS oi/3, mr Value thereof t701 naecocrdeinA J.SS, paree nmore As 177 280 CALENDAR YEAR JANUARY 1, 1776 - DECEMBER 31, 1776 Certificates: Loan Office Certificates of October 3, 1776 Loan Office Certificates of November 18, 1776 Loan Office Certificates of December 12, 1776 Currency: Continental Currency CALENDAR YEAR JANUARY 1, 1777 - DECEMBER 31, 1777 Certificates: Loan Office Certificates of January 14, 1777 Loan Office Certificates of February 22, 1777 Currency: Continental Currency Bonds: Loan from Farmers -General of France CALENDAR YEAR JANUARY 1, 1778 - DECEMBER 31, 1778 Certificates: Loan Office Certificates of January 17, 1778 Currency: Continental Currency July/August • Whole No. 256 • Paper Money Quartermaster General's Certificate Currency: Continental Currency Bonds: French Loan of 18,000,000 Livres CALENDAR YEAR JANUARY 1, 1780 - DECEMBER 31, 1780 Bills: Loan Office Bills of Exchange Certificates: Loan Office Certificates of April 27, 1780 Loan Office Certificates of September 5, 1780 Quartermaster General's Certificate Bonds: French Loan of 18,000,000 Livres CALENDAR YEAR JANUARY 1, 1781 - DECEMBER 31, 1781 Bills: Loan Office Bills of Exchange Certificates: Loan Office Certificates of January 2, 1781 Loan Office Certificates ofJuly 23, 1781 Quartermaster General's Certificate Special Loan Office Certificates Bonds: French Loan of 10,000,000 Livres French Loan of 18,000,000 Livres Spanish Loan of 1781 CALENDAR YEAR JANUARY 1, 1782 - DECEMBER 31, 1782 Bills: Loan Office Bills of Exchange Certificates: Register's Certificate @ 6% Quartermaster General's Certificate State Commissioner's Final Settlement Certificates Bonds: Currency: French Loan of 18,000,000 Livres Office of Finance note CALENDAR YEAR JANUARY 1, 1779 - DECEMBER 31, 1779 Bills: Loan Office Bills of Exchange Certificates: Loan Office Certificates of January 2, 1779 Loan Office Certificates of February 3, 1779 Loan Office Certificates of June 29, 1779 Loan Office Certificates of October 30, 1779 Bonds: French Loan of 10,000,000 Livres French Loan of 18,000,000 Livres Holland Loan of 1782 Spanish Loan of 1781 CALENDAR YEAR JANUARY 1, 1783 - DECEMBER 31, 1783 Bills: Office of Finance Bills of Exchange Deal with the Leading Auction Company in United States Currency 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 Paper Money • July/August • Whole No. 256 281 Currency Auctions 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 • Bea u t iful 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 tour material via CSPS 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. CX/iight Currency Auctions 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lynglynknight.corn - support@lynknight.com Whether you're buying or selling, visit our website: www.lynknight.com 282 July/August • Whole No. 256 • Paper Money Certificates: Army Final Settlement Certificates Clothier Department Final Settlement Certificates Commissary Department Final Settlement Certificates Hospital Department Final Settlement Certificates Marine Department Final Settlement Certificates Register's Certificate @ 6% Quartermaster's Final Settlement Certificates Currency: Office of Finance note Bonds: French Loan of 6,000,000 Livres Holland Loan of 1782 CALENDAR YEAR JANUARY 1, 1784 - DECEMBER 31, 1784 Certificates: Army Final Settlement Certificates Certificate of Interest Clothier Department Final Settlement Certificates Commissary Department Final Settlement Certificates Hospital Department Final Settlement Certificates Marine Department Final Settlement Certificates Register's Certificate @ 6% Quartermaster's Final Settlement Certificates Bonds: Holland Loan of 1782 Holland Loan of 1784 CALENDAR YEAR JANUARY 1, 1785 - DECEMBER 31, 1785 Certificates: Certificate of Interest Register's Certificate @ 6% Bonds: Holland Loan of 1782 CALENDAR YEAR JANUARY 1, 1786 - DECEMBER 31, 1786 Certificates: Certificate of Interest Loan Office Final Settlement Specie Certificate Register's Certificate @ 6% Bonds: Holland Loan of 1782 CALENDAR YEAR JANUARY 1, 1787 - DECEMBER 31, 1787 Certificates: Certificate of Interest Register's Certificate @ 6% Bonds: Holland Loan of 1787 CALENDAR YEAR JANUARY 1, 1788 - DECEMBER 31, 1788 Certificates: Register's Certificate @ 6% Bonds: Holland Loan of 1787 CALENDAR YEAR JANUARY 1, 1789 - DECEMBER 31, 1789 Certificates: Register's Certificate @ 6% Treasury Bonds: Holland Loan of 1788 Temporary Loan of 1789 CALENDAR YEAR JANUARY 1, 1790 - DECEMBER 31, 1790 Certificates: Register's Certificate @ 6% Treasury Bonds: Holland Loan of 1790 Temporary Loan of 1789 Temporary Loan of 1790 CALENDAR YEAR JANUARY 1, 1791 - DECEMBER 31, 1791 Certificates: Register's Certificate @ 6% United States Loan Certificate Treasury Bonds: Holland Loan of 1790 Holland Loan of March 1791 Holland Loan of September 1791 Antwerp Loan of 1791 Holland Loan of December 1791 CALENDAR YEAR JANUARY 1, 1792 - DECEMBER 31, 1792 Certificates: Register's Certificate @ 6% United States Loan Certificate Treasury Bonds: Antwerp Loan of 1791 Holland Loan of December 1791 Holland Loan of 1792 Subscription Loan of 1791 Temporary Loan from Bank of North America Temporary Loan of 1792 CALENDAR YEAR JANUARY 1, 1793 - DECEMBER 31, 1793 Certificates: United States Loan Certificate Classic work catalogs variety of early U.S. debt obligations Former Paper Money Editor Gene Hessler's 378-page standard reference catalogs a variety of U.S. stocks, bonds, and other debt obligations from the Continental period to the Spanish American War. Information on availability of this work can be obtained from its author at genehessler@aol.com or by writing Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231. Paper Money • July/August • Whole No. 256 283 Treasury Bonds: Holland Loan of 1792 Holland Loan of 1793 Temporary Loan of 1793 CALENDAR YEAR JANUARY 1, 1794 - DECEMBER 31, 1794 Certificates: United States Loan Certificate Treasury Bonds: Holland Loan of 1794 Temporary Loan of 1793 Temporary Loan from Bank of New York Temporary Loan of March 1794 Temporary Loan of December 1794 CALENDAR YEAR JANUARY 1, 1795 - DECEMBER 31, 1795 Certificates: United States Loan Certificate Treasury Bonds: Temporary Loan of December 1794 Temporary Loan of February 1795 Temporary Loan of March 1795, Series A Temporary Loan of March 1795, Series B Temporary Loan of March 1795, Series C 5.5% Stock of 1795 4.5% Stock of 1795 CALENDAR YEAR JANUARY 1, 1796 - DECEMBER 31, 1796 Certificates: United States Loan Certificate Treasury Bonds: Temporary Loan from Bank of New York CALENDAR YEAR JANUARY 1, 1797 - DECEMBER 31, 1797 Certificates: United States Loan Certificate Treasury Bonds: 6% Loan of 1796 CALENDAR YEAR JANUARY 1, 1798 - DECEMBER 31, 1798 Treasury Bonds: Temporary Loan of 1798 Navy 6% Stock CALENDAR YEAR JANUARY 1, 1799 - DECEMBER 31, 1799 Treasury Bonds: Navy 6% Stock 8% Loans of 1798 and 1800 CALENDAR YEAR JANUARY 1, 1800 - DECEMBER 31, 1800 Certificates: United States Loan Certificate Treasury Bonds: Navy 6% Stock 8% Loans of 1798 and 1800 CALENDAR YEAR JANUARY 1, 1801 - DECEMBER 31, 1801 Treasury Bonds: Navy 6% Stock CALENDAR YEAR JANUARY 1, 1802 - DECEMBER 31, 1802 no issues CALENDAR YEAR JANUARY 1, 1803 - DECEMBER 31, 1803 no issues CALENDAR YEAR JANUARY 1, 1804 - DECEMBER 31, 1804 Treasury Bonds: Louisiana 6% Stock CALENDAR YEAR JANUARY 1, 1805 - DECEMBER 31, 1805 no issues CALENDAR YEAR JANUARY 1, 1806 - DECEMBER 31, 1806 no issues (A1,1='!=.,.!") SIX PER CENT. STOCE OF 1 812. Unwell STAT, LOAN.OFFICK STATT or 18 DO HEREBY CERTIFY, THAT ,, the Proprietor or fln per Cent. Stock. IX , in C,,;6Si the Pub lic V im & ■ X th e U NITED S TATra. In din amoun t o r ONE THOUSAND ailrg 1812 '. UZI 1418:i„ Aix, inelasiseV: and that the Certificate thereof I. 'wen eancolled, unit tho aeroont for saki Stack slehile8 10::1 healing lute.. at Six rtr Vela. per Juni., Not the ay of ,,,t, therefor in the hooka of (kis office Under this date; Odell nUM is transfersible to the credo rd the soil a s'.■ it , the boob or'4111 by WARRANT from the Seemly,. of the Treaso IA ro cu?1511NN10A alt. O. titer: $tatcs 1111' WIIVELVe, //no; 4 eeoo A; Tizof e1/4 cc/r.0 ,s7c...,c//r7C8 //ic - • 7,7/,?-7 Treasury Notes: 284 July/August • Whole No. 256 • Paper Money CALENDAR YEAR JANUARY 1, 1807 — DECEMBER 31, 1807 CALENDAR YEAR JANUARY 1, 1814 — DECEMBER 31, 1814 Treasury Bonds: Exchanged 6% Stock of 1807 Converted 6% Stock of 1807 CALENDAR YEAR JANUARY 1, 1808 — DECEMBER 31, 1808 Treasury Bonds: Exchanged 6% Stock of 1807 Converted 6% Stock of 1807 CALENDAR YEAR JANUARY 1, 1809 — DECEMBER 31, 1809 no issues CALENDAR YEAR JANUARY 1, 1810 — DECEMBER 31, 1810 Treasury Bonds: 6% Loan of 1810 CALENDAR YEAR JANUARY 1, 1811 — DECEMBER 31, 1811 no issues CALENDAR YEAR JANUARY 1, 1812 — DECEMBER 31, 1812 Treasury Bonds: Loan of 1812 Temporary Loan of 1812 Exchanged Stock of 1812 Treasury Notes: Treasury Notes of 1812 CALENDAR YEAR JANUARY 1, 1813 — DECEMBER 31, 1813 Treasury Bonds: Loan of 1812 Exchanged Stock of 1812 $7.5 Million Loan of 1813 $16 Million Loan of 1813 Treasury Bonds: Treasury Notes of 1812 Treasury Notes of 1813 Treasury Bonds: tatadar.a.......1.11 fa, Clglin.eanea 1.1t t ENT. , I Ill I: Oa t•I 5. MIN sit inannencar DOLLISI. ti. i (Ab.7 ...."' WO. OFFICE or eon ESITEI , ll'ATES: 8. ,..i . ;[....',/ /.,/. ja. ,-, ' get H. 4tOPIPH, TITAT there l• doe ftwa !be C.a. :..f. . I .././i,,,, , ,/ f, fie /.;,,;.; • lannieg kiere. laia per l,n1n.e ,arr Annula. frnan the ,' das uf • • a lorterearly: 1,rittg xt.• h ovisha1 parsuanan of an a.% nr Unageraa, pawn,. she teent,-,nr. l 11.11h. 1 ,11.1. anti!. •“Ao tu .1M • luso • ems nu, eueogieg .9111.410,, POLI-111,- she nripol of which 'tort i. rtitolAiruhle st the plftwre of the Uni.-1 stn. sna sin. Aar nr iso ass or noses., in 'car IdAirh det, ifisifilsa lb, •44, Iranaannala .1, I, 1%,,,I2111, in ,secaa, as 1, own,. at the. T 1.4LV, torutitg, •12.1 [onus far thst VD.) 00064,443.000.000, ‘111111111110111/1111111111111111111111111011111111M Loan of 1812 $7.5 Million Loan of 1813 $10 Million Loan of 1814 $6 Million Loan of 1814 Undesignated Loan of 1814 Temporary Loan of 1814 Treasury Notes: Treasury Notes of 1813 Treasury Notes of March 1814 CALENDAR YEAR JANUARY 1, 1815 — DECEMBER 31, 1815 Treasury Bonds: Loan of 1812 $6 Million Loan of 1814 Undesignated Loan of 1814 Temporary Loan of 1814 Mississippi Stock Direct Tax Loan of 1815 Temporary Loan of February 1815 Loan of 1815 @ 7% Loan of 1815 @ 6% Temporary Loan of March 1815 Treasury Notes of March 1814 Treasury Notes of December 1814 Treasury Notes of 1815 Small Treasury Notes of 1815 Treasury Note Stock of 1815 Paper Money • July/August • Whole No. 256 285 CALENDAR YEAR JANUARY 1, 1816 - DECEMBER 31, 1816 Treasury Bonds: Undesignated Loan of 1814 Temporary Loan of 1814 Mississippi Stock Temporary Loan of February 1815 Loan of 1815 @ 7% Loan of 1815 @ 6% Temporary Loan of March 1815 Treasury Notes: Treasury Notes of 1815 Small Treasury Notes of 1815 Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1817 - DECEMBER 31, 1817 Treasury Bonds: Mississippi Stock Loan of 1815 @ 7% Loan of 1816 Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1818 - DECEMBER 31, 1818 Treasury Bonds: Mississippi Stock Loan of 1815 @ 7% Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1819 - DECEMBER 31, 1819 Treasury Bonds: Mississippi Stock Loan of 1815 @ 7% Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1820 - DECEMBER 31, 1820 Treasury Bonds: Mississippi Stock Loan of 1815 @ 7% Loan of 1820 @ 5% Loan of 1820 @ 6% Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1821 - DECEMBER 31, 1821 Treasury Bonds: Loan of 1815 @ 7% Loan of 1821 Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1822 - DECEMBER 31, 1822 Treasury Bonds: Loan of 1815 @ 7% Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1823 - DECEMBER 31, 1823 Treasury Notes: Loan of 1815 @ 7% Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1824 - DECEMBER 31, 1824 Treasury Bonds: Loan of 1815 @ 7% Loan of May 1824 Exchanged Stock of 1824 Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1825 - DECEMBER 31, 1825 Treasury Bonds: Loan of 1815 @ 7% Exchanged Stock of 1824 Loan of May 26, 1824 Treasury Notes: Treasury Note Stock of 1815 CALENDAR YEAR JANUARY 1, 1826 - DECEMBER 31, 1826 Treasury Bonds: Exchanged Stock of 1825 CALENDAR YEAR JANUARY 1, 1827 - DECEMBER 31, 1827 no issues CALENDAR YEAR JANUARY 1, 1828 - DECEMBER 31, 1828 no issues CALENDAR YEAR JANUARY 1, 1829 - DECEMBER 31, 1829 no issues CALENDAR YEAR JANUARY 1, 1830 - DECEMBER 31, 1830 no issues 4'Hz.ve, xml;t '//, , • , ,,;•X ■•• // tam, // /1,(/ rill- ^irvrrdurii. '7"”1 •• Oniterb of -America ) , P;t ;Or tja(L) IVI,V192,51 286 July/August • Whole No. 256 • Paper Money CALENDAR YEAR JANUARY 1, 1841 - DECEMBER 31, 1841 Treasury Bonds: Loan of 1841 CALENDAR YEAR JANUARY 1, 1831 - DECEMBER 31, 1831 no issues CALENDAR YEAR JANUARY 1, 1832 - DECEMBER 31, 1832 no issues CALENDAR YEAR JANUARY 1, 1833 - DECEMBER 31, 1833 no issues CALENDAR YEAR JANUARY 1, 1834 - DECEMBER 31, 1834 no issues CALENDAR YEAR JANUARY 1, 1835 - DECEMBER 31, 1835 no issues CALENDAR YEAR JANUARY 1, 1836 - DECEMBER 31, 1836 no issues CALENDAR YEAR JANUARY 1, 1837 - DECEMBER 31, 1837 Treasury Notes: Treasury Notes of 1837 CALENDAR YEAR JANUARY 1, 1838 - DECEMBER 31, 1838 Treasury Notes: Treasury Notes of 1837 Treasury Notes of 1838 CALENDAR YEAR JANUARY 1, 1839 - DECEMBER 31, 1839 Treasury Notes: Treasury Notes of 1839 CALENDAR YEAR JANUARY 1, 1840 - DECEMBER 31, 1840 Treasury Notes: Treasury Notes of 1840 Treasury Notes: Treasury Notes of 1840 Treasury Notes of 1841 CALENDAR YEAR JANUARY 1, 1842 - DECEMBER 31, 1842 Treasury Bonds: Loan of 1841 Loan of 1842 Treasury Notes: Treasury Notes of 1841 Treasury Notes of January 1842 Treasury Notes of August 1842 TRANSITION YEAR JANUARY 1, 1843 - JUNE 30, 1843 Treasury Bonds: Loan of 1842 Loan of 1843 Treasury Notes: Treasury Notes of January 1842 Treasury Notes of August 1842 FISCAL YEAR JULY 1, 1843 - JUNE 30, 1844 Treasury Bonds: Loan of 1843 Treasury Notes: Treasury Notes of 1843 FISCAL YEAR JULY 1, 1844 - JUNE 30, 1845 no issues FISCAL YEAR JULY 1, 1845 - JUNE 30, 1846 no issues Paper Money • July/August • Whole No. 256 287 On This Date in Paper Money History -- July 2008 By Fred. Reed ° July 1 1834, Levi Woodbury takes office as Treasury Secretary; 1863, FNB of Philadelphia becomes second national bank to open for business; 1907, Congress curtails interest on U.S. $10 Refunding Certificates, capping value at $21.30; July 2 1776, dozen Colonies' delegates vote for Independence (NY abstains) setting stage for Declaration Presentation commemorated by Trumbull's depiction on Bicentennial $2 cluece: 1951, punched cards replace paper Postal Notes; July 3 1793, Thomas Jefferson's personal check on the Bank of United States to blackmailer James Reynolds for $99.53 buys details on Alexander Hamilton's peccadilloes with Reynolds' wile Maria; 1819, Bank for Savings opens in New York City; July 4 1821, John Lash of NYC indicted for possessing forged bank notes; 1928, Sullivan, IL issues handbills on backs of replica 1864 CSA notes for its patriotic celebration; July 5 1801, naval hero David Farragut (FR 377-378) born; 1926, banknote engraver Kenneth Guy born; 1927, Rochester, NY Numismatic Assn. adopts rules of conduct drafted by collector-evangelist Billy Sunday; July 6 1785, Continental Congress establishes dollar as unit of account; 2004, "Confederate Currency: the Color of Money" exhibit opens in Durham, NC museum; July 7 1862, New York World notes circulation of shinplasters in the city; 1863, Cambridge, MA inventor Levi L. Tower patents currency and stamp box; 1876, Treasury Secretary Lot M. Morrill's term begins; July 8 1765, Georgia Colonials (FR GA44) bears this date; 1875, George W. Casilear tiles for patent for improved safety-paper to foil altering of printed stamps or notes; July 9 1828, Gilbert Stuart, whose Athenaeum portrait of George Washington was engraved for U.S. currency, dies; 1969, first delivery of Series 1969 $50 FRNs; July 10 1870, National Banks chartered after this date limited to issue no more than $500,000 in National Currency; 1929, first current sized U.S. currency, Series 1928 Tate-Mellon S2 US Notes, placed into circulation; July 11 1862, Congress appropriates $300,000 for detection and bringing to trial currency and coin counterfeiters; 1914, "First" CSA currency collector Robert Alonzo Brock dies; July 12 1862, American Bank Note Co. wins medal at International Exhibition in London, England for excellence in design/printing currency notes; 1908, banknote designer Henry Herrick dies; July 13 1928, noted paper money researcher/author Gene Hessler born; 1967, Secret Service and Treasury Dept. permit 'Celebrity Cash" (superimposition of picture over engraved portrait on U.S. currency) as a novelty, according to the trade; July 14 1869, Fourth Issue of Fractional Currency commences, according to U.S. Treasurer Historically since 1933, the largest purchaser of rare American paper currency ... CALL 888-8KAGINS Jas. Giltillan; 1934, The book Lincoln Legal Tender Money by Ben Spear copyrighted; July 15 1929, first small-sized Series 1929 National Currency issued; 1942, BEP sends second shipment of $5 HAWAII emergency notes to Treasury Department; July 16 1824, political economist and U.S. Commissioner of Revenue Tench Coxe dies; 1992 Currencies and Crises by Paul R. Krugman copyrighted; July 17 1861, Congress authorizes Demand Notes (FR 1-15); 1950, Congress initiates investi- gation of employee utilization in Executive Departments and agencies such as BEP; July 18 1892, traveler's check namessake Thomas Cook dies in Leicestershire, England; 1894, first BEP-produced U.S. postage stamps honoring James A. Garfield placed on sale; July 19 1788, Paris stock market plunges; 1905, ABNCo hires outside accounting firm to supervise the books; 1973, Check Collectors Round Table founded; July 20 1873, Treasury Secretary determines henceforth term "United States Notes" will replace "Legal Tender Notes;" 1952, ANA President T. James Clarke dies; July 21 1861, Confederate currency subject Thomas Jackson earns nickname "Stonewall" at Bull Run; 1873, Jesse James commits world's first train robbery at Adair, IA; July 22 1846, Congress authorizes one-year interest-hearing notes to finance the Mexican War; 1935, expiration date of bonds backing circulation of National Bank Notes; July 23 1844, paper money and U.S. Mint Chief Cngraver Christian Gobrecht dies; 1946, end of Vinson-Julian combined tenure as Treasury Secretary and Treasurer; July 24 1866, Comptroller of Currency Freeman Clarke leaves office; 1955, Bank Note Reporter Executive Editor David Harper born; July 25 1861, ABNCo contracts with Treasury Dept. to print treasury notes; 2005, United Kingdom Treasury department proposes new rules for Scottish and Irish Bank Notes; July 26 1858, Minnesota legislature passes banking law authorizing banks of issue; 1918, size of note sheets printed at BEP increases from four subjects to eight subjects; July 27 1923, Koenigstein on the Elbe, Germany issues notgeld 100,000-one billion marks; 1984, American Bankers Assn. copyrights "Small Bank Directorship"; July 28 1950, paper money dealer Lyn F. Knight born; 1984, BEP souvenir card for ANA show reproduces Series 1882 Abe Lincoln $500 Gold Certificate face; July 29 1894, New York Times reports from Treasury insiders that portrait of Columbia on new 51000 Silver Certificate "was taken from a photograph of losie Manstield"; 1980, Pancho Villa's paymaster & currency printer, Mexican numismatist Dr. Alberto Francisco Pracleau dies; July 30 1739, subscribers to the Massachusetts Land Bank Scheme form a Company, choose John Colman as Treasurer and brewer Samuel Adams and others as directors; 1956, Congress and President establish "In God We Trust" as our national motto; July 31 1868, first use of the name Bureau of Engraving and Printing; 1942, Japanese military decrees "enemy banks" in Manila be liquidated; • //' / „ / //i/ ./7”; NI :11•71,71/ I5000/ . :••' Treasury Bonds: Loan of 1846 Mexican Indemnity Stock Loan of 1847 Bounty Land Script t AanUiP :1)1:MI. J;"*/// "' ;/// ,7 r ///// 4/1' " 500500 July/August • Whole No. 256 • Paper Money288 FISCAL YEAR JULY 1, 1846 - JUNE 30, 1847 Treasury Notes: Treasury Notes of 1847 FISCAL YEAR JULY 1, 1849 - JUNE 30, 1850 Treasury Bonds: Loan of 1847 Loan of 1848 FISCAL YEAR JULY 1, 1850 - JUNE 30, 1851 Treasury Bonds: Loan of 1847 Texan Indemnity Stock FISCAL YEAR July 1, 1851 - JUNE 30, 1852 Treasury Bonds: Loan of 1847 FISCAL YEAR JULY 1, 1852 - JUNE 30, 1853 Treasury Bonds: Loan of 1847 Treasury Notes: Treasury Notes of 1846 Treasury Notes of 1847 FISCAL YEAR JULY 1, 1847 - JUNE 30, 1848 Treasury Bonds: Loan of 1846 Mexican Indemnity Stock Loan of 1847 Bounty Land Script FISCAL YEAR JULY 1, 1853 - JUNE 30, 1854 Treasury Bonds: Loan of 1847 FISCAL YEAR JULY 1, 1854 - JUNE 30, 1855 Treasury Bonds: Loan of 1847 FISCAL YEAR JULY 1, 1855 - JUNE 30, 1856 Treasury Notes: Treasury Notes of 1846 Treasury Notes of 1847 FISCAL YEAR JULY 1, 1848 - JUNE 30, 1849 Treasury Bonds: Loan of 1847 Loan of 1848 Bounty Land Script Treasury Bonds: Loan of 1847 FISCAL YEAR JULY 1, 1856 - JUNE 30, 1857 Treasury Bonds: Loan of 1847 FISCAL YEAR JULY 1, 1857 - JUNE 30, 1858 Treasury Bonds: Loan of 1847 Treasury Notes: Treasury Notes of 1857 FISCAL YEAR JULY 1, 1858 - JUNE 30, 1859 Treasury Bonds: Loan of 1847 Loan of 1858 Paper Money • July/August • Whole No. 256 289 On This Date in Paper Money History -- August 2008 By Fred Reed ° Aug. 1 1862, S1 and 52 Legal Tender Notes bear this printed date; 1866, egregious 10% Federal tax on state-chartered banknotes takes effect; Aug. 2 1813, Congress taxes bank note circulation 1 - 2 percent; 1911, Thomas Edison releases his film Money to Burn; Aug. 3 1873, Fr-1379 Dexter 50-cent notes first issued; 1914, Comptroller of Currency approves first application for note issue under Aldrich-Vreeland Act of May 20, 1908; Aug. 4 1886, Congress authorizes additional Silver Certificates, including small denomination notes; 1954, Cleveland Federal Reserve Bank President Aandra Pianalto born; Aug. 5 1861, CSA District Attorney at Charleston, SC warns against "trading with the enemy"; 1931, German banks reopen following seven-day bank holiday; Aug. 6 1846, Second Independent Treasury Act provides for assistant treasurers at NYC, Boston, Charleston & St. Louis; 1956, banknote engraver Elie Timothee Loizeaux dies; Aug. 7 1928, Treasury unveils new small size currency; 1969, second D.C. Wismer-Elizabeth Osmun Collection sale of obsolete paper money; Aug. 8 1865, U.S. Treasury denies reports that counterfeit national bank notes are in circula- tion, also discredits reports that S1 legal tenders have been counterfeited; 1929, wood- en flat commemorates Salem, OR American Legion Convention; Aug. 9 1861, Treasury Secretary Chase writes President Lincoln that he is "obliged to go to New York today to arrange for loan; 1978, A Collector's Guide to Paper Money by Yasha Beresiner copyrighted; Aug. 10 1871, NYT publishes "Spurious Money: A List of the Most Dangerous Counterfeits now in Circulation"; 1914, Charles S. Hamlin begins tenure as first Fed Board Chairman ; Aug. 11 1794, paper money/Mint Chief Engraver James B. Longacre born; 1967, SPMC pre- sents first Awards of Merit to Harley Freeman, Barbara Mueller and Nathan Goldstein; Aug. 12 1823, City Council of St. Augustine, FL authorizes municipal scrip signed by mayor and treasurer; 1969, first BEP-issued numismatic souvenir card released during ANA Philadelphia convention; Aug. 13 1841, Independent Treasury Act is repealed leaving federal government without a banking system for next five years; 1985, Crane & Co. receives patent 4534398 for counterfeit deterrent optically active security paper; Aug. 14 1901, Ernest Ashton Smith publishes his monumental History of the Confederate Treasury; 1989, Treasury Secretary Robert B. Anderson dies; Aug. 15 1876, Act abolishes position of assistant treasurer at Charleston, SC; 1942, only HAWAII overprinted notes valid in the Islands without special license; Historically since 1933, the largest purchaser of rare American paper currency ... CALL 888-8KAGINS Aug. 16 1787, Constitution Convention strikes language authorizing Congress to emit bills of credit; 1979, SPMC's Indiana Obsolete Notes and Scrip by Wendell Wolka, Jack Vorhies and Don Schramm copyrighted; Aug. 17 1869, U.S. Treasurer F.E. Spinner receives a "half counterfeit" 510 greenback comp- ised of "equal portions of genuine and counerfeit notes, which had been cut and past- ed together"; 1998, Russia devalues the ruble; Aug. 18 1862, CSA President Jefterson Davis decries northerners supplying federal troops with counterfeit CSA currency; 1972, SPMC President Roy Pennell unveils new Society logo, currency peeled from printing plate by Forrest Daniel and Brent Hughes; Aug. 19 1861, CSA authorizes Treasury Notes payable six months after peace treaty with U.S.; 1980, SPMC celebrates 20th anniversary at ANA led by President Wendell Wolka; Aug. 20 1927, Irish Currency Act authorizes gold coins & legal tender issue of currency notes; 1980, Fred Schwan speaks at SPMC awards breakfast at ANA Cincinnati convention; Aug. 21 1894, BEP Chief Claude M. Johnson writes artist George W. Maynard he will consider any designs he may submit for the Educational Notes series; 1970, SPMC awards hon- orary life memberships to BEP Director James Conlon and Barbara Mueller; Aug. 22 1903, BEP ships first small size currency (Philippine peso notes) to San Francisco; 1925, Treasury serial numbers discontinued on National Currency; 1968, SPMC pre- sents Awards of Merit to authors William P. Donlon, Neil Shafer and Tedd Kemm; Aug. 23 1914, ANA President appoints committee to define "numismatic"; 1975, Eric Newman's "As Phony as a Three Dollar Bill" receives Heath Literary bronze medal; Aug. 24 1903, Charles Henry Smith, a.k.a. "Bill Arp," Georgia cracker humorist and ofttimes paper money critic, dies; 1973, SPMC raises dues to $8/year; Aug. 25 1918, Rod Le Rocque's silent film mystery Money Mad released to public; 1965, BEP Director Henry Holtzclaw announces a new visitors gallery at the bureau; Aug. 26 1921, Thomas Elcler sells Lewis C. Gehring paper money collection; 1976, BNR Publisher Austin Sheheen offers SPMC one page in each issue as a membership tool; Aug. 27 1942, National Bank Note researcher/author Peter Huntoon born; 1965, SPMC confers first "Outstanding Service Awards" on Tom Bain, Elizabeth Smart, and George Wait; Aug. 28 1846, BEP engraver Robert Ponickau born; 1925, Banco de Mexico founded; 1957, pioneer paper money collector Robert F. Schermerhorn dies; Aug. 29 1861, CSA Act requires postmasters to take Confederate currency in payment; 1862, NYT reports on the appearance of the "new postage stamp notes"; Aug. 30 1801, Colonial paper money enthusiast Joshua I. Cohen born; 1862, New York Tribune Editor Horace Greeley praises encased stamps as substitute for silver coins; Aug. 31 1861, to avert small currency crisis in South, Georgia and South Carolina banks offer loan of their small bills to CSA Treasury; 1964, Federal Food Stamp Act provides for commodity redistribution to poor; 1971, U.S. Treasurer reports 144,696 S1 United States Notes outstanding; •t• 290 July/August • Whole No. 256 • Paper Money Treasury Notes: Treasury Notes of 1857 FISCAL YEAR JULY 1, 1859 - JUNE 30, 1860 Treasury Bonds: Loan of 1847 Loan of 1858 Treasury Notes: Treasury Notes of 1857 FISCAL YEAR JULY 1, 1860 - JUNE 30, 1861 Treasury Bonds: Loan of 1860 Loan of February 1861 Treasury Notes: Treasury Notes of 1860 Treasury Notes of 1861 FISCAL YEAR JULY 1, 1861 - JUNE 30, 1862 Certificates of Deposit: Temporary Loan of 1862 Treasury Bonds: Five-Twenties of 1862 Loan of February 1861 Loan of July and August 1861 Oregon War Debt ,r,P4A-VAD4e4 0100004Z 0+,- Q Treasury Notes: Seven-Thirties of 1861 Treasury Notes of 1861 FISCAL YEAR JULY 1, 1862 - JUNE 30, 1863 Certificates of Deposit: Temporary Loan of 1862 Certificates of Indebtedness: Certificates of Indebtedness of 1862 Currency: Fractional Currency United States Notes Certificates of Indebtedness: Certificates of Indebtedness of 1862 Currency: United States Notes Old Demand Notes Treasury Bonds: Five-Twenties of 1862 Loan of July and August 1861 Oregon War Debt 07.MIVIETIPArKirilf • • 111 • :4-74, • • s avthitanswarirmittaninsr. i ;;OISTAGE -' Ir it It ENT 01' g'F)..L"Y-GT.ZSS ,Srn"S''a3ti D...i..artems ;4;r11.1 Are .;_• tT :49 A tr;l:' ST1 N X000 «osivrevite,4igto 041,6,1%, 1:4orott,ci.piil 4.71,14. 'Am • "y ippamoze — 114 1-1 . • • • .I■la.:1011. •yip 1 , 741 0! _ 1 //1/4, /r,./ • err:mr: r rinn,"--ms Paper Money • July/August • Whole No. 256 291 Treasury Notes: Seven-Thirties of 1861 Treasury Notes of 1861 FISCAL YEAR JULY 1, 1863 - JUNE 30, 1864 Certificates of Deposit: Temporary Loan of 1862 Certificates of Indebtedness: Certificates of Indebtedness of 1862 Currency: Fractional Currency United States Notes Treasury Bonds: Five-Twenties of 1862 Loan of July and August 1861 Loan of 1863 Ten-Forties of 1864 Treasury Notes: Compound Interest Note One-Year Notes of 1863 Two-Year Notes of 1863 FISCAL YEAR JULY 1, 1864 - JUNE 30, 1865 Certificates of Deposit: Temporary Loan of 1862 Certificates of Indebtedness: Certificates of indebtedness of 1862 Currency: Fractional Currency United States Notes Treasury Bonds: Five-Twenties of 1862 Five-Twenties of June 1864 Loan of 1863 Loan of July and August 1861 Navy Pension Fund Ten-Forties of 1864 . (ii) ';(;'' f ;'W ,, IE.: ."... ,r1,5coun FOIVI . 'V tilt 4 ' 7 0 I 0 r. I. / .. Trill:MAWS' ST x „nr.„„_„.,,, 3nty 15.1141Pt. 4"") ''' IMMETKOMMINEr= — 4 ' „ Treasury Notes: Compound Interest Note Seven-Thirties of 1864 and 1865 FISCAL YEAR JULY 1, 1865 - JUNE 30, 1866 Certificates of Deposit: Temporary Loan of 1862 Certificates of Indebtedness: Certificates of Indebtedness of 1862 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Five-Twenties of March 1864 Five-Twenties of June 1864 Five-Twenties of 1865 Loan of 1863 Loan of July and August 1861 Navy Pension Fund Ten-Forties of 1864 Treasury Notes: Compound Interest Note Seven-Thirties of 1864 and 1865 Certificates of Deposit: Three Per Cent Certificates ,,,r,i4,.” ,0,/,,,./ ,47,,.. - /4,,,/,,,,,, „/// ,,4,6tri.g /, y...i,....,; ;,,,,, 4., ,,,,,,,s.,,,,, ,,,,/,,:”,,,,, ,,,,,,,,, 4. /Ay, , „ „„. ., .4, / ”...,,, • /,',. /,,,,, ,44.4,. '- :'' . //,,,,,, .. „.„,f., +1., .'/,,/ ''''''''/' 4 X'', ,,'4 1,1' ' .-/" , '4. .t.,‘ : ,ii,,,,, /Ye/AK:, /„/,/ /4o..‘/„../Z, r „ 4 ,,, ; ,,,,,,,,,,,,,/ 44, 1 —,,,,,?' 41111111MomitlINIIIIIIikm■ 292 July/August • Whole No. 256 • Paper Money FISCAL YEAR JULY 1, 1866 - JUNE 30, 1867 Certificates of Deposit: Temporary Loan of 1862 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Consols of 1865 Five-Twenties of June 1864 Five-Twenties of 1865 Loan of 1863 Loan of July and August 1861 Navy Pension Fund Ten-Forties of 1864 Treasury Notes: Compound Interest Note Seven-Thirties of 1864 and 1865 FISCAL YEAR JULY 1, 1867 - JUNE 30, 1868 Certificates of Deposit: Three Per Cent Certificates Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Consols of 1865 Consols of 1867 Consols of 1868 Five-Twenties of June 1864 Five-Twenties of 1865 Loan of July and August 1861 Navy Pension Fund Ten-Forties of 1864 Treasury Notes: Seven-Thirties of 1864 and 1865 FISCAL YEAR JULY 1, 1868 - JUNE 30, 1869 Certificates of Deposit: Three Per Cent Certificates Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Consols of 1865 Consols of 1867 Consols of 1868 Five-Twenties of 1865 Loan of 1863 Loan of July and August 1861 Navy Pension Fund Ten-Forties of 1864 Treasury Notes: Seven-Thirties of 1864 and 1865 FISCAL YEAR JULY 1, 1869 - JUNE 30, 1870 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Consols of 1867 Loan of July and August 1861 FISCAL YEAR JULY 1, 1870 - JUNE 30, 1871 Certificates of Deposit: Three Per Cent Certificates Certificates of Indebtedness: Certificates of Indebtedness of 1870 Currency: Fractional Currency Gold Certificates United States Notes --FILUCTIONAL letrnitENcy ildted Stratesj" stivaage APRIL PT 1879 I 3W..9o.V57.P Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Consols of 1867 Funded Loan of 1891 Funded Loan of 1907 FISCAL YEAR JULY 1, 1878 - JUNE 30, 1879 Certificates of Deposit: Refunding Certificates Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Funded Loan of 1891 Funded Loan of 1907 Paper Money • July/August • Whole No. 256 293 Treasury Bonds: Consols of 1867 Funded Loan of 1881 FISCAL YEAR JULY 1, 1871 - JUNE 30, 1872 Certificates of Deposit: Three Per Cent Certificates Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Consols of 1867 Funded Loan of 1881 Loan of July and August 1861 FISCAL YEAR JULY 1, 1872 - JUNE 30, 1873 Certificates of Deposit: Three Per Cent Certificates Treasury Bonds: Funded Loan of 1881 FISCAL YEAR JULY 1, 1875 - JUNE 30, 1876 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Funded Loan of 1881 FISCAL YEAR JULY 1, 1876 - JUNE 30, 1877 Currency: Gold Certificates United States Notes Treasury Bonds: Funded Loan of 1881 Funded Loan of 1891 FISCAL YEAR JULY 1, 1877 - JUNE 30, 1878 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Loan of July and August 1861 Consols of 1867 FISCAL YEAR JULY 1, 1873 - JUNE 30, 1874 Currency: Fractional Currency Gold Certificates United States Notes Treasury Bonds: Funded Loan of 1881 Consols of 1867 FISCAL YEAR JULY 1, 1874 - JUNE 30, 1875 Currency: Fractional Currency Gold Certificates United States Notes ,ti it JO VILstk ES SPAM 21 .‘,1C nAreminowibotoatms, July/August • Whole No. 256 • Paper Money294 FISCAL YEAR JULY 1, 1879 — JUNE 30, 1880 Certificates of Deposit: Refunding Certificates Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Funded Loan of 1907 FISCAL YEAR JULY 1, 1880 — JUNE 30, 1881 Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Loan of July and August 1861, Continued FISCAL YEAR JULY 1, 1881 — JUNE 30, 1882 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Funded Loan of 1907 Loan of 1882 FISCAL YEAR JULY 1, 1883 — JUNE 30, 1884 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1884 — JUNE 30, 1885 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1885 — JUNE 30, 1886 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1886 — JUNE 30, 1887 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1887 — JUNE 30, 1888 Treasury Bonds: Funded Loan of 1881, continued, Series 1878 FISCAL YEAR JULY 1, 1882 — JUNE 30, 1883 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1872 Currency: Gold Certificates United States Notes Silver Certificates Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1888 — JUNE 30, 1889 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 ->144313‹ _;.RE= ON DE's AUTHENTICATION EXPERT GRADING ENCAPSULATION IMAGING INTEGRITY IMPARTIALITY Paper Money • July/August • Whole No. 256 295 INTRODUCING A NEW .ESTINATION FOR PASSIONATE COLLECTORS Bringing the World's Greatest Notes Together PMG announces the launch of our new Notes Registry, exclusively for collectors of PMG-graded notes. The PMG Registry combines the world's greatest notes with the world's greatest collectors, and is a proud part of our continued commitment to expert, impartial grading, state-of-the-art encapsulation, collecting resources, and the highest standards of integrity. With the PMG Registry, you can track inventory, build sets and compete with others who share your passion for notes. You can also arrange unique Signature Sets based on your own creative criteria. Begin with one note and watch your set grow, or add an entire new collection. Visit www.PMGnotes.com today and click on "Registry" to include your collection among the world's greatest notes. Join the community PAPER MONEY GUARANTY P.O. Box 4755 I Sarasota, FL 34230 I 877-PMG-5570 (764-5570) www.PMGnotes.com An Independent Member of the Certified Collectibles Group suraluit / '.*a■ , (4.44 ,17.11/, Wt.:4*'e; 7g 76 A 16 July/August • Whole No. 256 • Paper Money296 Currency: Gold Certificates United States Notes Silver Certificates FISCAL YEAR JULY 1, 1889 - JUNE 30, 1890 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 FISCAL YEAR JULY 1, 1890 - JUNE 30, 1891 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 FISCAL YEAR JULY 1, 1891 - JUNE 30, 1892 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 Treasury Bonds: Funded Loan of 1891, Continued Treasury Notes: Funded Loan of 1907 FISCAL YEAR JULY 1, 1892 - JUNE 30, 1893 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 Treasury Bonds: Funded Loan of 1907 Treasury Notes: Treasury Notes of 1890 FISCAL YEAR JULY 1, 1893 - JUNE 30, 1894 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 Treasury Bonds: Funded Loan of 1907 Loan of 1904 FISCAL YEAR JULY 1, 1894 - JUNE 30, 1895 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Certificates of Indebtedness: Cherokee Certificate of Indebtedness Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 Treasury Bonds: Funded Loan of 1907 Loan of 1904 Loan of 1925 Paper Money • July/August • Whole No. 256 Thanks to our Service Men and Women! IAM WRITING THIS ON MEMORIAL DAY. IT ISthat time of year where we give thanks to all of our ser- vice men and women who have made the ultimate sacrifice for our freedom. It is also coming up on Independence Day, where we celebrate the freedoms we have. I would like to expand that and say a big THANK YOU to all who have served or are serving. Without those remarkable peo- ple who have unselfishly accepted the job of protecting us and our future, we could not enjoy our hobby without fear of reprisal or confiscation of our stuff. Yes, that is what we have is stuff. Think of what they think is important com- pared with what we think is important. None of us have ever had to live in harms way to pursue that elusive note or other item. They on the other hand, live in a constant state of concern for their well-being and can't wait for a hot meal and shower. We owe them so much, both past and present. There are many times that we all take our freedom for granted, and this is solely a result of their sac- rifices. I look at the changing world and the incredible challenges that Brandon (my son) will be facing and am so grateful that he will not have to worry about his freedom. So, thank a veteran or current member of our armed ser- vices. On behalf of the SPMC, I say THANKS and Job Well Done! I would like to give you a report on Memphis, but due to the lead time of my column, we are still about one month away from the show. I do hope it turned out as good as it was planned! I do know the hobby is still hot in spite of the financial difficulties that are facing all of us. Gas is now $3.85 a gallon and bread has skyrocketed. I just wonder where it will all level off, and am really looking for- ward to them going back down. I was at the Texas Numismatic Association last weekend and foot traffic seemed good. I did not notice an appreciable fall off from last year. I had two full cases of Paper Money magazines and they were all gone in a day and a half! So, on that note, I bid you all adieu and hope all your days are sunny, a smile is on your face and you find all those notes you need for half-price (unless you are a dealer and then sell them at double)! Benny $$ money mart Paper Money will accept classified advertising on a basis of 154 per word (minimum charge of $3.75). Commercial word ads are now allowed. Word count: Name and address count as five words. All other words and abbrevia- tions, figure combinations and initials count as separate words. No checking copies. 10% discount for four or more insertions of the same copy. Authors are also offered a free three-line classified ad in recognition of their contribu- tion to the Society. These ads are denoted by (A) and are run on a space available basis. Special: Three line ad for six issues = only $20.50! HERE'S YOUR OPPORTUNITY!!! YOUR WORD AD could appear right here in each issue of Paper Money. You could advertise your duplictes inexpensively, or advertise your Want List for only $20.50 for three lines for an entire year. Don't wait. (PM: COLLECTOR BUYING AND SELLING published U.S. National Bank Histories and other publications! Offer what you have; send your "Want List." Bob Cochran, PO Box 1085, Florissant, MO 63031 (PROUD SPM- CLM691 (258) AUTHORS RECEIVE FREE CLASSIFIED AD. Write now :PMI LINCOLN PORTRAIT ITEMS. Collector desires bank notes, scrip, checks, CDVs, engraved/lithographed ephemera, etc. with images of Abraham Lincoln for book on same. Contact Fred Reed at P.O. Box 11 81 62, Carrollton, TX 75051-8162 or freed3@airmail.net (258) HUNDREDS OF PAPER MONEY MAGAZINES FOR SALE from before I became Editor back to 1960s & 1970s. I bought these filling sets. Fill your needs now. E-mail me freec13@airmail.net & I'll sell you what I got! (258) WANTED: Notes from the State Bank of Indiana, Bank of the State of Indiana, and related documents, reports, and other items. Write with descrip- tion (include photocopy if possible) first. Wendell Wolka, PO Box 1211, Greenwood, IN 46142 (258) AUTHORS RECEIVE FREE CLASSIFIED AD. Write now (PM) CASH FOR BOOKS, PUBLICATIONS, DOCUMENTS related to finance, leasing, law, bail bonds, banking, accounting, royalties, insurance, mort- gages, etc. www.RichardHopp.com (818) 902-0532 (254) WANTED. OBSOLETES AND NATIONALS from New London County CT banks (Colchester, Jewett City, Mystic, New London, Norwich, Pawcatuck, Stonington). Also 1732 notes by New London Society United for Trade and Commerce and FNB of Tahoka Nationals #8597. David Hinkle, 215 Parkway North, Waterford, CT 06385. (254) WANTED OBSOLETE BANKNOTES & SCRIP of Worcester, MA. Please e- mail or write to: ecIpognt@roaclrunnercom or Don Latino, 1405 Cape St., East Lee, MA 01238 (256) WANTED NATIONALS -- HAYS NATIONAL BANK in Clinton, New York. Charter #10295. Neil Schrader, 3320 Minglewoocl Dr., Beaumont, TX 77703-2734 (256) Permanent Wants: Paper Money Editor desires Articles on small size U.S. currency What are YOU waiting for? Or short articles on ANY paper money subject Experts & novices alike welcome 297 fTreasury Bonds: Funded Loan of 1907 trit onmaemauer. 41/1A1,11101111,11. I ! 1)441.2 , err F'ftl . 41 ;•■•=4014;4- ere Sitiforesix S c rArp frz,„ wis 50 "1":43V1111;Ii geraflife:ize 7.* ,,,, „.„... iiimi ,. --11ari'd T'cirh'' C,:arsoly "4-'1' IA rac^tn curs. July/August • Whole No. 256 • Paper Money FISCAL YEAR JULY 1, 1897 — JUNE 30, 1898 298 FISCAL YEAR JULY 1, 1895 — JUNE 30, 1896 Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Bonds: Loan of 1925 FISCAL YEAR JULY 1, 1896 — JUNE 30, 1897 Currency: Gold Certificates United States Notes Silver Certificates Certificates of Deposit: Certificate of Deposit @ 0%, Series 1875 Currency: Gold Certificates United States Notes Silver Certificates Treasury Notes of 1890 TENNESSEE Merchant and Company Store Paper Scrip By Dennis Schafluetzel and Tom Carson M ONEY HAS ALWAYS BEEN A PROBLEM IN Tennessee. In early Tennessee, pelts, tobacco and other com- modities were often the money, clue to the shortage of U.S. and foreign coinage. The lack of specie and the problems of finding suitable trades impeded commerce. The early banks in Tennessee usually only issued $1 or higher bills. This left a void that was filled by merchants issuing small denomination notes. The authors have produced an e-book on Tennessee Merchant and Company Store Scrip. Information about the project can be found at www.schafluetzeLorg/TN_Merchant/TN_ CD_Book/index.htm 1)01.- l'AV Tilt?, .1R F ON DEMAND, r17. 'TS. .-1.w LE" 10,7 • HON ghe ili v ONE DOLLAR, rn ((' 611Icclet ate iteaitov cjoa att e - lawns/ed. Paper Money • July/August • Whole No. 256 299 The earliest merchant scrip in Tennessee had coins embedded in the plate to let the receiver know that the issuer had money. This note was issued by John Walker, Jr. at his ferry on the Hiwassee River. Walker met and was impressed with John Calhoun and named his com- munity Calhoun in his honor. For years the Walker note was considered a North Carolina note until our research attributed it to Tennessee. The United States eased the coinage shortage, but hoarding during the hard times of 1837, and the Panic of 1857, necessitated issuance of notes by prominent people in the community to facilitate commerce. The Civil War caused major problems with smaller transactions. Early in the War the Confederacy only printed $5 notes or higher. Attempts to issue coins resulted in only four half dollars and twelve-cent coins. During this peri- od, merchants, railroads, counties and others issued small denomination change notes. In most Southern states the state issued notes, but not Tennessee. Robert -White in Tennessee Its Growth old Progress (1939) illustrated a merchant change note as a Tennessee state issue. The illustrated note was identical to the note shown here except serial number 28. White also illustrated a 5-cent Cumberland Iron Works note in the book. He did not attribute the note, so we suspect it belonged to him. Please find it for us! After the Civil War, cities, counties and even Tennessee issued scrip or warrants due to the shortage of currency. Tennessee had to issue warrants to redeem the bonds issued by the Radical Reconstruction government. The 1870s Chattanooga issue of notes was declared unconstitutional, stopping local gov- ernment issues. The Chattanooga notes are in our e-book, Chattanooga Money. The other cities and counties will be in a future edition. Natintended as a atii 14 V' • ' , ‹41' tfry, Cumberland Furnace, Tenn., 6191" _1957 On or before Twenty-four months from date we promise to pay kIVE DOILLARSocithout interest. $5.00 WARNER IRON COMPANY, B y ,(71/ e/ l a . -1-7101\1) (71/01- T„1247—- _ 1°1S0 04,q* 742 v1.74.tlyZar:RT4PMZ' WILL. PAY TO THE BEARER - nCilA N DTS-Z■ ;MN CZWITS, tinXiacy Si Sin tel venaSISY 300 July/August • Whole No. 256 • Paper Money After the Civil War, much of the scrip was issued for use in the compa- ny store. The Federal Government actively discouraged private issue money by heavy taxes. This led to the disclaimer "Not intended as a Circulating Medium." By 1900 the issuance of paper scrip had mostly been replaced by metal tokens that lasted longer. There were paper examples that mimicked punch cards where the purchase was punched or strips of paper chits. Linda Parker of the Dickson County Archives found four inches of 1937 scrip issued by finan- cially troubled Warner Iron Company at Cumberland Furnace. Imagine being paid in scrip that was redeemable in 24 months. Warner issued scrip at Riverside in 1917 and Warner in 1881. Warner also issued scrip as Southern Iron Works in Warner in 1893. The later issues from Cumberland Furnace are ugly compared to the 1880s issues of Drouillard Iron Company at Cumberland Furnace. The first edition is nearing completion. Spink Smythe has been wonderful in furnishing high resolution scans of the Sedman notes from the Schingoethe Collection, plus the other notes that Herb and Martha acquired. Numerous collections have been searched and each new holding contains 50+% discovery notes. The Tennessee State Museum only has 8 notes, but all were discoveries. The Smithsonian has five discovery notes. The Museum of the Confederacy furnished 10 notes. All collectors, PLEASE search your collection and see if you have discovery notes. You can view the 600+ notes at http://www.schafluet- zel.org/TN_Merchant/TN_CD_Book/index.htm The password is SPMC6000. They can be reached at dennis@schafluetzel.org or tcarson@ewlumnet v Robert W. Talks in the U.S. Navy Paper Money • July/August • Whole No. 256 301 The $100,000 Errand: Banking in 1941 Washington, DC By R. Logan Talks M Y FATHER, ROBERT W. TALKS JR., WAS BORN IN Washington, D.C. in 1923. He grew up there and attended Central High School graduating in June 1941. He later joined the Navy and became a pilot during WWII, and after the war was sta- tioned on the aircraft carrier U.S.S. Bataan. Immediately after graduating from high school, and before he joined the Navy, he was employed in his first full time job, at age 18, by the Washington Loan and Trust located at the corner of F Street and 9th Street in _ . Washington, DC. Years later this bank was to become a part of the Riggs National Bank. This building is now a Marriott hotel, but much of the fOrmer bank features can still be seen. The original bank vault, with it's massive .iOntid - vault door, can be viewed in the basement and is now a special function dining4,.:, room as part of the Marriott's basement restaurant. The Washington Loan an Trust name can also still be seen on the building above the Marriott's entrance canopy. My father was hired as a Runner which was an entry level position at ,,,--.:- the bank. As a Runner his duties included hand delivering messages to vari s business clients of the bank, running errands, and, when he wasn't busy W, errands, helping out in the proof department. He worked from 9:00 am to 54-0 , .. , pm Monday to Friday and 9:00 am — 2:00 pm on Saturday. He was paid OallarV: .. .. of $15 per week. He also received a free lunch, along with all other bank" employees, in the seventh floor bank cafeteria that was operated exclusivelyfor bank employees. If he had to stay late and work after 6 pm he was given 75Cents for dinner. To me the most interesting part of his job were the errands he didfor' the bank. At least once a week his job was to pick up $100,000 in cash from the Treasury building. When funds from the Treasury were needed the s:Hail- Teller, Mr. Cain, would request a letter from Mr. Fisher, one of the bank Officers. My father would take this letter and ride to the Treasury Building with Clarence, who was employed as the bank's Driver. Clarence was an older man and a long time employee of the bank. Clarence would drive my father wherever he needed to go around Washington for all of his errands. On the occasions when he had to pick up $100,000 a guard from the bank would also ride in the bank's car with Clarence and my father. Although the guard was armed he did not actually transport the money. When the $100,000 was requested in small bills my father car- VALET MEIN MIMIC July/August • Whole No. 256 • Paper Money302 1E RIGGS NATIONAL BA ASHINCTON LOAN AND RAI 'of The heritage of the Washington Loan & Trust is still visible on the old Riggs National Bank marquee behind the present hotel awning. lied the money in a large black bag. Frequently, however, the $100,000 was requested in $1,000 bills, and on those occasions my father would merely carry the one hundred $1,000 bills in his coat pocket! My father picked up $100,000 in cash in this manner at least once a week during the 18 months he was employed by the Washington Loan and Trust. That $100,000 that he carried in 1941 would exceed $1,000,000 in terms of today's purchasing power. And this responsibility was entrusted to an 18 year old young man in his first job out of high school! On a few occasions, while in the Treasury building, my father met and got acquainted with a treasury employee who was responsible for handling all the obsolete large size bills that were still being removed from circulation in 1941. She showed him the old large size notes that had been removed from cir- culation and had been sent to her from many banks around the country. She offered to let him "buy" as many as he wanted at face value. On two or three occasions my father "bought" a few old large size notes totaling $17.00 in face value. For this he paid $17.00. Among the notes he bought were one each of the $1, $2, and $5 1896 Educational series Silver Certificates. He also bought several $1 1899 Silver Certificates, with various signature combinations; including one of the early Paper Money • July/August • Whole No. 256 303 series notes with the series date printed by the right serial number. A few United States Notes were also purchased including a $2 1862 United States Note. Although my father no longer has these notes I remember them well and they were in nice circulated condition — most of them graded Very Fine except for the $2 1862 note that was in VG/Fine condition. At the time he purchased these notes they were more of a novelty to my father as he was not a collector. The opportunity to obtain any old large size notes at face value would be a collectors dream today. At the time, howev- er, the $17.00 that my father exchanged for these notes was more than a week's salary so it represented a real investment. I find it fascinating to speculate what other notes may have been avail- Times change. The massive bank vault is able at that time for face value from this source at the Treasury. The fact that now a specialty dining room. he was able to obtain all three denominations of the 1896 Educational Series, and a $2 1862 Legal Tender note, is evidence that some very nice notes were available. Likely there were National Bank Notes and Gold Certificates as well as United States Notes and Silver Certificates available as well. One can only speculate about what scarcer signature combinations, star notes, rare Nationals or other types that would have also been there at that time. All of these would be highly prized by collectors today. The banking business was simpler and more trusting in 1941 than it is today. The experience and responsibility that my father had, at the age of 18, of transporting so much cash is hard to comprehend by today's standards. His opportunity to buy scarce large size notes at face value is the stuff that collec- tor's dreams are made of. 304 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX SPMC NEW MEMBERS - 03/31/2008 These memberships expire 12/31/2008. 12258 Michael L. Hicks, 5808 Rawson Ln, Pensacola, FL 32503-7703 (C, Paper and Poly Bank Notes), Paper Money Values 12560 Jason S. Miller, 112 Washington PLace Unit 16G, Pittsburg, PA 15219 (C, British Commonwealth and India), Webiste 12567 T.V. Welo, PO Box 208, Purdys, NY 10578-0208 (C, Twos). BNR 12568 Joseph Dunn, PO Box 10528, Daytona Beach, FL 32120 (C, US Large & Small), Website 12569 Gregory W. Martin, 4316 Danor Dr, Reading, PA 19605 (C & D, US Large & Fractional), Website SPMC NEW MEMBERS - 05/04/2008 These memberships expire 12/31/2008. 12570 Robert L. Ditchey II, PO Box 2361, Arlington, VA 22202 (C. Arizona & Pennsylvania Nationals), Lowell Horwedel 12571 Sandy Roman (C), Website July/August • Whole No. 256 • Paper Money 12572 Gary A. Boyer, 457 SW 100th St, Oklahoma City, OK 73139 (C. US Small & Sheets), Website 12573 Neal Worden (C), Paper Money Values 12574 Benjamin K. Webb, 4207 Albans. Houstin, TX 77005 (C. Texas Paper Money), Tom Denly 12575 Bill Gunther (C). Website 12576 John Eyman (C), Jason Bradford 12577 Jeff Liford (C), Jason Bradford 12578 Robert McNally (C), Jason Bradford 12579 Cathy LaPoint (C), Jason Bradford 12580 Han Moeljadi (C), Jason Bradford 12581 Obdulio Gonzalez (C), Jason Bradford 12582 Richard Larson (C), Jason Bradford 12583 Don Fagan (C). Jason Bradford 12595 David Shmukler (C), Jason Bradford 12596 Michael Boyd (C), Jason Bradford 12597 Arthur Broniszewski (C), Jason Bradford 12598 Karen Morin (C). Jason Bradford 12599 Richard Hammond (C), Jason Bradford 12600 David Mullin (C), Jason Bradford 12601 Jeffrey Miner (C), Jason Bradford 12602 Vurt Prebe (C), Jason Bradford 12603 Linh Do (C), Jason Bradford 12604 Timothy J. Landolfo (C), Frank Clark 12605 David F. Noyes (C), Torn Denly 12606 James Kallas (C), Website 12607 D. Parker (C). Frank Clark 12608 Ralph Scipione (C & D), Website 12609 Tim Daum (C), Website 12610 David Stevenson (C), Website 12611 Alan Tonguette (C), Website r WANT ADS WORK FOR YOU Money Mart ads can help you sell your duplicates, advertise your want list, increase your collection, and help you have more fun with your hobby. Up to 20 words plus your address in SIX BIG ISSUES only $20.50/year!!!! * * Additional charges apply for longer ads; see rates on page opposite -- Send payment with ad Take it from those who have found the key to "Money Mart success" Put out your want list in "Money Mart" and see what great notes become part of your collecting future, too. (Please Print) ONLY $20.50 /YEAR ! ! ! (wow) • • Paper Money • July/August • Whole No. 256 Th ner 305 Hats Parladernts Rears Gators IiirdS Cats Gnomes Serpents What else 110 you find? "We must stand in awe of the work of superb craftspeo- ple. These would be amazing if folded from plain paper, but I am astonished at how the printed designs are used for features. Look closely." -- MH Shared for your earlayalella by NMI.: member Rlohamad Hussein Nitittkilt _ psiv_yrns With tilt el t. e Ivaliitn-r II II I- d ze7 O ethlke.Z11 ; 'CM-1'101UL ho- warduTE,N, Dm' MIREEtiliiMMEI= Q. DAVID BOWERS and DAVID M. SUNDMAN are involved in a long-term project to describe the history of all currency issued in the State of New Hampshire, as well as to compile a detailed registry of all known notes (whether for sale or not). Our area of interest ranges from early colonial times through the Revolutionary era, the state-chartered bank years (1792-1866), and the era of National Banks (1863-1935). This will result in a book under the imprimatur of the Society of Paper Money Collectors, with help from the New Hampshire Historical Society, the Smithsonian Institution, and others. Apart from the above, David M. Sandman is president of Littleton Coin Company and Q. David Bowers is a principal of American Numismatic Rarities, LLC, and both advertisers in the present book. For other commercial transactions and business, refer to those advertisements. rho authors of the preeto book, holding a ra re Series of 1902 .SIO National Bank Note from West Derry, New i lanphire. A typical N11 Obsolete Note, this from the Winchester Bank. A Series of 1882 10 Brawn hack front the Winchester National Bank. This same building MIS used for the Winchester Hank out its successor; the Winchester National Bank. Teller window circa 1910, IVinchester National Bank I f you have New Hampshire currency orold records or correspondence relating to the same, or other items of historical interest, please contact us. In addition, Bowers and Sandman are avid collectors of these bills and welcome contact from anyone having items for sale. We will pay strong prices for any items we need! Visit the NI1 Curieney Study Project website: Wthie.rilieurrenty.com . Find a listing of Nett , I lanipshire links that issued .. -or,',,cy, read sample chapters, ami more. We look forward to hearing from you! The NEW HAMPSHIRE CURRENCY STUDY Project Box 539, Wolfeboro Falls, NH 03896 E-mail: inloWnlicurrency.com ( limr e-mail will be kwarekil to both authors.) "4/ EITZEM111111■1 •— www.nhcurrency.com An Invitation from The NEW HAMPSHIRE CURRENCY STUDY Project Paper Money • July/August • Whole No. 256 307 COME TO STACKS.COM cfr-Yotert-Azeedevi 11.111.11,111,41:11V1:11.,1, pm: //, `041*ANTAZYM .4rAti,..e.mazarag 7„;,-- K2586273* K258627 44.0.141.414UL41 ' ,11+41,:rmastirrurrzinaullauLtaniva-..,. Ce 0 0 8- 7 7 7 '446, 4-i ;. C. CTIVITY IN THE PAPER MONEY MARKET is stron- ger than ever! We have been cherrypicking certified notes for their eye appeal, brightness of colors, excellent margins, and overall appearance, with an emphasis on popular designs and types, many of which are featured in 100 Greatest American Currency Notes by Q. David Bowers and David Sundman. WE ARE CONSTANTLY ADDING TO INVENTORY but most items are one-of-a-kind in our stock; therefore we suggest you visit our website and call immediately to make a purchase. RECEIVE OUR PAPER MONEY MAGAZINE, THE Paper Money Review. This full color publication highlights paper money in our inventory, as well as articles and features about this fascinating collecting specialty. To receive your copy send us an invoice of a previous paper money purchase. Or, if you place an order for any paper money totaling $1,000 or more you will receive the Paper Money Review AND a per- sonally autographed copy of 100 Greatest American Currency Notes with our compliments. CHECK OUT OUR OFFERING TODAY. WANT LISTS ACCEPTED! e4»rey/crip'S-1 7;;fi?.,0iiiho I/ / We are pleased to announce the ongoing sales of the greatest hoard of bank-note printing plates, dies, and other material ever assembled. The American Bank Note Company (ABNCo) was formed in 1858 by combining seven of the most important bank note engraving firms then in business. Hundreds of printing plates and other artifacts were brought into the merger, and survive today. To these are added many other items made by ABNCo from 1858 onward, a museum quality selection. In sales in 2007 Stack's will continue to bring to marker hundreds of bank note printing plates, vignette dies, cylinder dies, and other artifacts, each unique. These items are so rare that most numismatic museums and advanced collectors do not have even a single vignette die, cylinder die, or plate! If you would like to have more information, contact us by mail, phone, fax, or on our website. This is an absolutely unique opportunity! U.S. COINS • ANCIENT AND WORLD COINS • MEDALS • PAPER MONEY P.N•G 7 Stack's New York City: 123 West 57th Street • New York, NY 10019-2280 • Toll free: 800/566/2580 • Telephone 212/582-2580 • Fax 32/15 50 B Stack's Wolfeboro, NH: P.O. Box 1804 • Wolfeboro, NH 03894 • Toll-free 866/811-1804 • 603/569-0823 • Fax 603/569-3875 • www. st ads .am Paper Money • July/August • Whole No. 256 309 1vREDER&TEsNigs?4_ J°144104344- ) r Collecting Confederate Paper Money Better Attribution, Grading, and ValueTM T-23 PF-1 oInmilMema© WeellovaneEzDilllIll Alexandria, La. Issue Wookey Hole Mill watermark Award-winning author and collector/dealer Pierre Fricke is helping collectors of Confederate paper money build type, rare variety and contemporary counterfeit collections. I've owned and helped others acquire: • 3 of the 5 known T-59 J Green and Son watermarked notes • 43 inverted backs and many of the known examples of the "Great Rarities" • Complete collections of Wookey Hole Mill and J Whatman watermarked notes • A complete plen error (e.g., T-43 1-10 error) set and complete collections of T-10s, T-26s and T-33s • Many T-21 and T-24 "NY" watermarked notes and Non-Collectible (NCs) rare Confederate notes • Getting started collections, type, contemporary counterfeit, T-39, 40 and 41 specialty items too Pierre Fricke; P. 0. Box 52514; Atlanta, GA 30355 www.csaquotes.com ; pfrickeAattglobal.net Buy * Sell * Auctions * New Varieties * Provenance Email or write to get your rare notes in the Census! 310 July/August • Whole No. 256 • Paper Money i i /TEAStih. .1,1w tergagot,WES1111(r: 8)Itsitif". J118.0 1 littukally,wAixttquttmciiim, 11111 A ";06414563 .11;111.104 41tiat r r 447r Mrs ' • '• „„„„, mstsr.,., 449A1U4.V.L.4. :4291E: 111114(antoinak ?t t \At- ,„ We are the Rickey Collection www.DBRCurreney.com P.O. Box 28339 San Diego, CA 92198 Phone: 858-679-3350 FAX: 858-679-7505 >Large size type notes Especially FRN's and FRBN's >Large star notes >1928 8500's and $1000's >National Bank Notes >Easy to sort database By date added to Web site By Friedberg number All or part of any serial # > Insightful market commentary >Enlarge and magnify images "Honesty is not the best policy. It is the only policy." ■0,) //06/.0..// ..• •.• • -.AY " 1: MU. ritti00 01AUS 11111101;:,:•:011r „ voittu‘iliati31■3". B7A ;-;,/ • s ,•leo lt :0622A ra at0622,' 17fitt1144 K96705 ti 7. -4 g$OK, '""S i987051k 311 Paper Money • July/August • Whole No. 256 Online Paper Money at Its Finest /47 si;DroLay r trY* '16 A -Ofrc' r 1) ////1./ //A/ -r5fir.er/1//,' )/ ///' IFILORIIDA PAPER MONEY .k.N 111.1.411,116.,FEIL ION:VOIL ttLAIL—IN.NN EDON/L.ILD BONI= Esizr..1 by Fled RccJ Paper Money • July/August • Whole No. 256 313 Obsolete paper money of St. Joseph, Florida By Ron Benice Editor's Note: This year SPMC member Ron Benice debuted his acclaimed, award - winning Florida Paper Money: An Illustrated History, 1817 - 1934 (McFarland, 2008), which he shared his thoughts about at our annual SPMC Author's Forum at Memphis, TN recently. Ron's book catalogs hundreds of Florida obsoletes never before seen. In the past he has shared his scholarly research in these pages on Florida Civil War notes and other issues. For the edification of all SPMC members, he has allowed Paper Money to excerpt a small portion of his book in these pages. Information on the book is elsewhere. ST. JOSEPH St. Joseph was a short-lived town with an interesting history. In 1835 the Supreme Court ruled that Panton, Leslie & Co. owned the Apalachicola lands. Many residents of Apalachicola chose to form a new city, St. Joseph, 28 miles away rather than pay. To compete with Apalachicola as a cotton port, the Lake Wimico and St. Joseph Canal Company was formed to open an alternate route from the river. When the dredged route proved too shallow, a 30-mile bypass railroad was built via another new town, Iola. The boom town of St. Joseph hosted the Florida Constitutional Convention in 1838. In the summer of 1841, a yellow fever epidemic caused most residents to leave. In September 1841, a hurricane wiped out the town. On February 27, 1842, the Niles Register reported: "A gone city—The city of Apalachicola has bought out the city of St. Joseph, and hereafter all the business of the latter is to be united with that of the for- mer." Commercial Bank of Florida Unauthorized branch of Commercial Bank of Florida in Apalachicola. The plates from Apalachicola #s 18, 19 and 20 were re-engraved with St. Joseph substituted for Apalachicola. Imprinted Chas. Toppan & Co. Phila. 1. $5 Washington; boy with sickle, steamboat, boy; Jackson R7 2. $10 Standing Indian, Sailboat, Standing Washington R7 3. $20 Justice, Sailboat, Sailboat, Justice R7 g #A2,91--. 0 1 11t 114,9rout STATES trim • /07 , //, ///77.4 ,ry /7.; i , 77/ // .04NK ail,(.1011 TED STATSE ,P111144DET.P131A,4-7 314 July/August • Whole No. 256 • Paper Money The plates from Apalachicola #s 21, 22 and 23 were re-engraved with St. Joseph substituted for Apalachicola. Imprinted Draper, Toppan, Longacre & Co. Phila. & NY. Authentic signatures are William Patrick and J. C. Maclay with dates in 1836 and 1837 written in. In 1847, long after the parent bank had failed and St. Joseph had vanished, remainder notes were released with 1847 dates and fictitious signatures. 4. $5 Portraits of Washington, Marshall, Fulton and Franklin R5 in the corners, sailboats center 4A. authentic signatures 4B. fraudulent signatures 5. $10 same 4 portraits, steamboat 5A. authentic signatures 5B. fraudulent signatures 6. $20 same 4 portraits, sailing ships 6A. authentic signatures 6B. fraudulent signatures R5 R5 ,. ../// //////t ,*/ /7/ . /// /7,//// ,/// /(7,7 - fi_nEriC P7 0 ///ki. t/ / ////t/ / BA. -c TEA ITNI'FED ;STATE S ,PHILADELPMA.i . • ./ ///7.-/4f/tt,-, r t, ,t-/) -,-:.=tzrmz=ag,w Sz:jero virc .1f3 $Th '''WO )00:4- //-; ////0 - /- ////../././//// . (s: OS LP.11 / (.b ezi h"17‘.11 hh' Paper Money • July/August • Whole No. 256 315 7. $100 standing female, allegorical commerce, Ceres standing R7 Merchants & Planters Bank of Florida This bank was created in Tallahassee by reviving the charter of the failed Merchants and Planters Bank at Magnolia. This roundabout method was required since Congress had taken away the right of the territorial legislature to charter new banks. St. Joseph was a branch location. Bank notes with imprints Rawdon, Wright & Hatch New-York and Rawdon. Wright, Hatch & Edson, New Orleans. 184 imprinted for date. After St. Joseph failed, some remainder notes had "Tallahassee" written over "St. Joseph." 8. $1 silver dollar, Hebe pouring drink for eagle, train R7 9. $2 Commerce, cotton plant R7 --Netr.nomueavocaccp- -„, _ ,;i1• 1 irm-syvz3 Yr .-. 0 1. rico° /(/J//.ii. /% /67 -7,14114,k14 I tow) 77 (I' w /////////ft" 4a1 #1:1=1! The Corporation of Saint Joseph Promise to pay to the Bearer Twelve and a Half Cents. St. Joseph, 183 Clerk. ueentoritr.v4s. . No. -41*-40.4-7-4L101,6, The Corporation of Saint Joseph Promise to pay to the Bearer Twelve and a Half Cents. St. Joseph, 183 Clerk. 316 July/August • Whole No. 256 • Paper Money 10. $3 Venus rising from sea, horses pulling plow, cherub R7 Corporation of Saint Joseph Notes with 183 engraved and signature spaces for Clerk and Mayor. 11. 6 14 seated woman, steamboat and sailboat, man smoking pipe R7 12. 12 1/2¢ same as preceding R7 13. 121/2¢ standing woman, woman in farm scene, rowboat and sailboats R7 14. 12V2¢ Indian with tomahawk, steam engine, standing woman R7 SIX tNi) 1111°Pent ,,10,131)11 0 RPORATION OF SAINT JOSE ///, ;:41.1)eitt' OTrn. ,!■43 ONE ,j4)..-it pit / /1';," ( Paper Money • July/August • Whole No. 256 317 15. 250 same as 14 R8 16. 500 same as 13 R8 Notes with 184 engraved and signature spaces for Clerk and Mayor. Imprint: Juts. Manouvrier & P. Snell Lithogr. N. Orls. 17. 6 14 no vignette. Large denomination counters in top corners R8 18. 12 1/2¢ large denomination counters at left border and top left & right R8 19. 25¢ cotton bales and sailboat R8 20. 50¢ sailing ships R7 21. 75¢ steamboat R7 22. $1 early railroad train R7 The section on St. Joseph in the book continues with the notes of Lake Wimico and St. Joseph Canal & Railroad Company--Editor. July/August • Whole No. 256 • Paper Money318 Paper Money Albums U,ARLY STAMP ALBUMS FACILITATED COLLECTING by encouraging hobbyists to fill in empty squares with the appropriate stamp. In the 1930s , as I recall, the introduction of cardboard coin boards with the same technique, caused a huge growth in coin collecting. The Paper Money hobby does not need any motivators today, as evidenced by the tremendous price appreciation going on; however; the album idea can increase the enjoyment of the hobby enormously. In the early 1970s, I recall that Dick Balbaton and a cou- ple of other New England guys published three ring binder "Doric" album pages for U.S. small size currency. There was one or more note sized outlines with a title on each page and a black & White photo of the note. Thus there were individual pages for United States Notes, (red seals), Federal Reserve notes, (green seals) and Silver Certificates, (blue seals etc).. There were two pages for the 1928 series Gold Certificates. There were also pages for the WWII notes of Hawaii and North Africa and the experimental R & S notes. I bought some of these pages (still have some around here somewhere) and used them to put together an UNC type set of small size notes. The beauty of these pages It occurs to me... was that they could be shown to people by simply carrying the album around; or used as exhibit pages in an exhibit case or by simply laying them flat on a table. When I exhibited these at local coin shows they always generated interest. At that time I recommended several improvements to the pages, along with ideas for additional pages. For example, in addition to including spaces for all denominations of each series; create type note pages. So, there would also have been a single page for the 1928 series Silver Certificates and a single page for the 1928 Gold Certificates, etc. In addition to an appropriate title, there would be text explaining the note series, applicable legislation, etc. And a color illustration of an example of each type. In this manner a collector could assem- ble an easily exhibited type collection in any desired grade. The same technique can be used for large size type notes. There is much information available from catalogs and the internet on legislation, and the economic issues behind the notes. Color photos are available everywhere and with a com- puter and scanner it is easy to create your own album pages. This can apply to Nationals, type notes or obsolete notes by bank or location. Other additions to such album pages can include contemporary post card photos of the banks (many old bank buildings still survive) and photos of the bank officials who signed the notes. One could also add checks and drafts to a collection and exhibit. This will allow you to continue col- lecting your specialty area long after you have exhausted the supply of available notes. This is a great way to collect and show off your collection. The three ring style allows easy changes as new photos or notes are added. So, get started on that collection book you will eventually leave behind. • Books T withAST YEAR WE RANA SPECIAL BOOK SECTIONd reviews of significant, recent paper money books. This time around we highlight recent paper money schol- arship in a different manner. In this issue you find applica- tions of several colleagues' research in various fields of interest presented as articles. These hopefully will whet the pallets of readers and send them racing to the respective authors' larger works. Books by Ron Benice, Tom Carson and Dennis Schafluetzel, Gene-Hessler and yours truly are featured. The range of paper money research is truly astounding. Any attendee at our annual Memphis Authors Forums cannot help but find some topic of personal interest addressed by an expert. I am presently making arrangements for our fifth annual Authors Forum, and preparing the printed program. This year is no exception. SPMC members are top notch! Those committed this year include Rob Kravitz, who has prepared a pricing update to his comprehensive book on U.S. Postage and Fractional Currency. Also featured are Ron Benice, who discusses his opus on Florida obsoletes (an excerpt of which you find in this issue); and Pierre Fricke, who has published his "field guide" to Confederate paper money, an updated carry-along companion to his massive tome on that subject, which revolutionized collecting CSA varieties. Scott Lindquist and John Schwartz detail their newest Standard Guide to Small-Size U.S. Paper Money. Bill Brandimore describes his work on Krause's Standard Catalog of U.S. Paper Money. Tom Carson and Dennis Schafluetzel pre- sent their e-book on Tennessee scrip, and the new vistas made possible by electronic collaboration on the worldwide web. More detail on the get-together will be published in a Future issue of Paper Money, but any reader can enjoy the fruits of these fine gentlemen's labors from his/her armchair by pur- chasing their books. All are highly recommended. It doesn't end there folks. My "Back Page" mate Steve Whitfield's definitive book on Kansas paper money is at the publisher, McFarland. Neil Shafer's collaboration on panic scrip is nearing completion. Eric Newman's newest take on early U.S. currency is nearing printing stage. My own book on everything Lincolniana is in the home stretch, and a second edition of my encased stamp book is on the boards. Others? You tell me. We want to foster your work. What a wonderful time to be collecting paper. Research has never been more accessible via internet, microfilm pdf, email collaboration, and other forms of electronic data retrieval, accumulation, and dissemination. Heck, colleague Tom Carson's job is "electronic workflow and knowledge management." That sounds pioneering to me! • Buying & Selling Quality Collector Currency •Colonial & Continental Currency •Fractional Currency •Confederate & Southern States Currency • Confederate Bonds •Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polls 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Jpolis7935@aol.com Member: SPMC, FCCB, ANA WANTED FOR HIGGINS MUSEUM LIBRARY Volumes 1, 2, and 3 of PAPER MONEY The first 12 issues. Larry Adams, Curator, Higgins Museum & Library, PO Box 258, Okoboji, Iowa 51355 712-332-5859 or 515-432-1931 email: ladams@opencominc.com HARRY IS BUYING NATIONALS - LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES 7379 Pearl Rd. #1 Cleveland, Ohio 44130-4808 1-440-234-3330 Are you planning a show? Would you like to have free copies of Paper Money magazine to distribute to attendees? Contact Bob Cochran 1917 Driftwood Trails Drive Florissant, MO 63031 Paper Money • July/August • Whole No. 256 319 DO YOU COLLECT FISCAL PAPER? Write about your specialty for Paper Money Articles on checks, bonds, stocks Always wanted Our SPMC Journal exists to fulfill our mandate to promote education in all these fiscal paper areas So spread your knowledge around to our members DO YOU COLLECT FISCAL PAPER? Join the American Society of Check Collectors http://members.aol.com/asccinfo or write to Lyman Hensley, 473 East Elm St., Sycamore, IL 60178. Dues are $13 per year for US residents, $17 for Canadian and Mexican residents, and $23 for those in foreign locations. Contact us: Toll Free: (Boo) 581-2646 Toll-Free Fax: 1877) 850-3540 CotnBuy@LittletonCoin.corn References: Bank of America Dun & Bradstreet #01-892-9653 Littleton Coin Company 1'0' 1 Mr. Eustis Road • Littleton NH 035613735 320 July/August • Whole No. 256 • Paper Money LITTLETON COIN COMPANY • SERVING COLLECTORS for OVER 60 YEARS Selling your collection? Call Littleton! you've worked hard to build your paper moneycollection. When it's time to sell, you want a company that's as thorough and attentive as you are. At Littleton, our team of professionals is ready to ) 411). 44'Z:riff a NAV MXV , 4.ibocAN 't offer you expert advice, top-notch service, and a very strong cash offer. See why collectors like you have rated this family-owned company so highly. Call us at 1-800-581-2646 and put Littleton's 135+ years of combined buying experience to work for you! g4 isuut;AILP5 .0" • yriflrlhrLlk 11110(tWiilon..72 800woilifloOlkeW vrrrs-BVItfili cc •X7S4195 i■gm.31151it 1,01,44.■11. P -'1 , 111-: 1 AITE0 S'EVI`Etill TY' WANTED: All types — Legal'lenders, Silver Certificates, Nationals, Federal Reserve Notes and more. 7 Reasons you should sell to Littleton... Receive top dollar for your collection - immediately / Quick turnaround - accept our offer and we'll send you a check the very same day 3 Single notes to entire collections 4 Deal with a company that has a solid reputation built from more than 60 years of service 5 You can rely on our professionals for accuracy and expert advice 6 Why travel? Send us your collection, or if its too large and value requires, we'll come to you - call for details 7 Each year we spend over $15 million on coins and paper money - isn't it time for your check? , Maynard Sandman David Sundman Jim Reardon Butch Caswell Founder President, Numismatist Chief Numismatist Senior Numismatist (ANA I 11 =4 ,163, PNG 7510) Ken Westover Josh Caswell Numismatist Numismatist Over 60 Years of Friendly Service to Collectors 02006 LCC, Inc. LittletonCoin.com 131146,1 ECTH HINGOETHE OBSOLETE CURRENCY COLLECTION PART 15 FREDERICK FORBES ANGUS COLLECTION and other fine Numismatic Properties SPINK SMYTHE PRESENTS TWO PREMIER AUCTIONS IN JULY: fee„ (1) zstriTiox_-r,AA-Vtispr' 7199 1711/1, 604,1■1111...11.1:”"(41,,Lywaimg THE KIRTLAND SAFETY SOCIETY BANK. A,./.r. -_,Do . r;r1 • / i1 • 7 btoweik44/7/10 ,610,0 13858853:- 74',,,,/44 c.■,/4 i 44-- 4/.0,.././h 1/ a hekil,r9//444.,0 /./4-h-i, /44' 1 , 4,./.,/, f ahr /4//,' , ,///e/ ////' t.,, • 4,-"' A -.I • --.-----. - 'CO . sA AltS,3 41 ERIC pt a ru■Aakie 111.e+ '4..1! Meat., k110 per e ;/./ oulitoms 4 . 4//'////1% ,․) &de (>7 1/11AL/4- //iv, .42:Ap1/4,/,-... /4. 0144774> ermoutv of If kluitilltqatro, 1 ,414.71iO401.s IMPAIITICLIVI *CRIES. 0144774> JULY 15TH, 2008 • NEW YORK Every Schingoethe sale brings new rarities to the market. The July sale features over 1000 lots of the highest quality obsolete bank notes including many proof notes and western selections. Among the highlights are a $2 and $5 Kirtland Safety Society reissue notes both signed by Brigham Young. This summer sale, Part 15 of this groundbreaking collection, continues the tradition of exceptional rarities and choice notes from the North, South and Midwest, including many pieces from Connecticut, Maryland, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. ORDER YOUR CATALOGS NOW Spink Smythe spares no expense in producing the finest quality all-color catalogs. To order your catalogs please contact us at 800-622-1880. Additionally, the entire sale - complete with high resolution scans and detailed descriptions will be posted on our website. JULY 16-17, 2008 • NEW YORK We are pleased to offer selections from the collection of Frederick Forbes Angus. The collection includes many Confederate rarities including TI-T4 Montgomery issues, two Indian Princess notes and other key pieces. The collection also features'a wide range of top quality U.S. Federal and National bank notes many of which have been off the market for over 20 years. The auction will also offer fine properties from assorted collections. NEW YORK SPINK — FOUNDED 1666 — 2 Rector St., 12th Fl. New York, NY 10006 212-943-1880 info@spinksmythe.com 800-622-1880 www.spinksmythe.com 4114 .-.Likts1;00-= (0 in tftip"-1- We, WHEN THE TIME TO SELL COMES, YOU WANT THE HIGHEST PRICE. HERITAGE DOESN'T COMPROMISE, AND NEITHER SHOULD YOU! Whether you are selling a few extra notes from your holdings, or a comprehensive collection built over decades, you can maximize your profits at our Central States auction. Our printed catalogs and online Permanent Auction Archives will memorialize your collection forever. Heritage is America's largest numismatic auction house, delivering worldwide bidder demand through our exclusive Interactive Internet systems on our award-winning website. There you will find 325,000+ fellow collectors registered as bidder-members at HA.com . Len Glazer Director of Auctions Ext. 1390 Len@HA.com When you consign with Heritage, you benefit from decades of experience, award-winning catalogs & catalogers, the world's finest numismatic client list, and proven marketing expertise. Our state-of-the-art digital photography has won praises from around the world, with full-color, enlargeable images of every single-note lot posted on the Internet. Bidders trust our catalog descriptions and our full-color images. 1)a\ Lisot Consignment Director Ext. 1303 DavidL@HA.com THE CSNS SIGNATURE AUCTION, APRIL 17-19, 2008 Heritage is currently accepting consignments for our Signature Auction to be held at the Central States Numismatic Society Convention in Rosemont, IL. To include your currency collection in this important auction, please contact a Consignment Director today! CONSIGNMENT DEADLINE: FEBRUARY 28, 2008 Dustin Johnston Director of Auctions Ext. 1302 1/ustin@HA.com David Mayfield Consignment Director Ext. 1277 DaviciM4a1A.com We invite your consignments and bidding participation in our upcoming CSNS Signature Auction. Let us bring your currency to the buyers around the world and on the Web. Call 1-800-872-6467 Ext. 1001 • 24-hour voicemail or visit our website at II ...corn Mike Moczalla Consignment Director Ext. 1481 MichaelM@HA.com The World's #1 Numismatic Auctioneer HERITAGE Auction/ Galleries / fu Jim Fitzgerald Director of Auctions Ext. 1348 JimF@HA.com Annual Sales Exceeding $500 Million • 325,000+ Online Registered Bidder-Members 3500 Maple Avenue, 17th Floor • Dallas, Texas 75219-3941 • or visit HA.com 214-528-3500 • FAX: 214-443-8425 • e-mail: Consign@HA.com IL Auctioneer license: Robert Korver 441.001421. This auction subject to a 15% buyer's premium. 6052 Allen Mincho Director of Auctions Ext. 1327 AllenM@HA.com