Paper Money - Vol. III, No. 2 - Whole No. 10 - Spring 1964

if13 Ei Ei iI3 Ei Ei i'3 Ei i'3 i \Tew World Ei Ei ii3 Ei Currency i Ei i13 i*3 ii Ei i iI3 von. 3 i` ii i13 ia3 ii Ei iI3 icnaoc.X,xXxXocna.x.Toc.X.,c.TocX.W)c.X.xnaoa.xXxXxXxXxXxix, Ei '3 Ei {13 Paper Jitehq DEVOTED TO THE STUDY OF CURRENCY SPRING 1964 No. 2 OFFICIAL PUBLICATION OF Caciet# ei Paper litane9 Collecter.4 C) 1964 by The Society of Paper Money Collectors (blank page) Paper alone SPRING 1964 VOL 3, NO. 2 WHOLE NO. 10 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Barbara R. Mueller, 523 E. Linden Dr., Jefferson, Wis. Assistant Editor Fred R. Marckhoff, 552 Park St., Elgin, Ill. Direct only manuscripts and advertising matter to the Editor. Direct all other correspondence about membership affairs, address changes, back numbers and sample copies of Paper Money to the Secretary, George W. Wait, Box 165, Glen Ridge, N. J. Membership in the Society of Paper Money Collectors, includ- ing a subscription to Paper Money, is available to all interested and responsible collectors upon proper application to the Secre- tary and payment of a fee. Paper Money is not otherwise available. ADVERTISING RATES One Time Yearly Outside Rear Cover $35.00 $130.00 Inside Front & Rear Cover 32.50 120.00 Full Page 27.50 100.00 Half Page 17.50 60.00 Quarter Page 10.00 35.00 The right is reserved to reject any advertisement. CONTENTS SOPMC News and Notes 31 The Background of Confederate Currency, by Arlie R. Slabaugh 33 Minor Variations in Goldbacks, by The Rev. Frank H. Hutchins 35 The 1935 D $1.00 Silver Certificates, by George W. Killian 36 Bank Notes: "Broken," "Obsolete," "Historical," by C. E. Wismer Osmun 37 The Ghetto Litzmannstadt and Its Money, by David Atsmony 39 The Small One Dollar Bill, by H. N. Schwartz 42 The Trading Post 44 How and What to Write for This Magazine, by Barbara R. Mueller 44 India Paper, by Clarence W. Brazer 45 Secretary's Report 46 Cocietv oi Paper 1itone9 Collector, OFFICERS — 1964 President Thomas C. Bain, 3717 Marquette Dr., Dallas 25, Tex. Vice President Dr. Julian Blanchard, 1 Sheridan Sq., New York 14, N. Y. Secretary George W. Wait, Box 165, Glen Ridge, N. J. Treasurer Glenn B. Smedley, 1127 Washington Blvd., Oak Park, Ill. APPOINTEES — 1964 Historian-Curator Earl Hughes Attorney Ellis Edlow BOARD OF GOVERNORS — 1964 Charles J. Affleck, Hank Bieciuk, Julian Blanchard, Robert H. Dickson, Ben Douglas, Michael Kolman, Jr., Morris H. Loewenstern, Fred R. Marckhoff, Julian Marks, Arlie Slabaugh, John H. Swanson SOPMC News and Notices Society of Paper Money Collectors Now Incorporated June 2, 1964, was a new day for the Society of Paper Money Collectors, for on that day we were officially incorporated in the District of Columbia. Our secretary, Mr. George W. Wait, has received the seal, so we will be operating as a non-profit corporation at our Annual Meeting in Cleveland. We want to thank our member and legal advisor, Mr. Ellis Edlow, for his untiring efforts in getting the organization incorporated. Our official name is now Society of Paper Money Collectors, Incorporated. Announcement of Writing Awards for 1965 SOPMC Magazine Mr. B. M. Douglas of our Board of Governors has announced that he will again give two awards for the best articles in PAPER MONEY for 1965. He has given these awards for 1964, and they will be presented at our Annual Meeting in Cleveland. For you new members who would be interested in writing an article for PAPER MONEY, these awards will consist of a $10 gold piece to be given to the writer of the best article and a $2 1/9 gold piece for the second best article published prior to the Summer 1965 issue. Winners must be members of the Society. While more than one article may be submitted, no one may win more than one award. The winning article will be chosen by a committee of Officers or Governors of the Society, ap- pointed by the President. Officers of the Society, including Governors, are ineligible for awards. The Douglas Awards should provide the added incentive for each member to try his hand as a writer and send in an article on his favorite pastime of currency. Our Society now has over 600 members, and we hope each one will write an article for PAPER MONEY in the near future. In Appreciation The Society of Paper Money Collectors wants to thank Mrs. C. Elizabeth Osmun for her contribution toward the D. C. Wismer Award for the best display of Obsolete Paper Money at the 1964 A. N. A. Annual Convention in Cleveland. Mr. Wismer, father of Mrs. Osmun, was one of the early collectors of obsolete currency and assisted many young collectors over the years. Mrs. Osmun, we want to thank you very much for this contribution. Thos. C. BAIN. President, SOPMC Librarian's Report I regret that I cannot report any progress in building up a library or in circu- lating books. Thus far only two or three donations have been made. Our plan for a circulating library has a potential for great service to our growing membership. Please help us realize it by contributing books, pamphlets, back num- bers of magazines, auction catalogs, banking histories, etc., all bearing on our special branch of numismatics. All donations will be listed and acknowledged here. EARL HUGHES, Librarian R. R. 2 Mitchell, Indiana PAGE 32 Paper Money VOL. 3, NO. 2 The Background of Confederate Currency By Arlie R. Slabaugh The 1850s in United States history might be called the "Decade of Disruption." There were numerous de- bates in Congress concerning the question of slavery: When new states, such as Kansas and Nebraska entered the Union, were they to be slave or free states? The people, too, were hotly involved in the question of whether or not the United States should sanction slavery. Great Britain had abolished slavery some years before. I should like to point out, however, that the abolition of slavery in Great Britain had not been so much for humanitarian as for economic reasons. Under the mer- cantile system of trade, slavery had been a profitable institution. With the rise of the Industrial Revolution in the early 1800s, slavery became unprofitable in Great Britain, as it did in the highly industrialized northern states in America, while the South remained more or less a land of plantations. South Carolina seceded on December 20, 1860. Fort Sumter fell on April 14, 1861. On May 6, the Confede- rate Congress declared war upon the United States. But until the first battle of Bull Run on July 16, 1861, the whole thing was considered more or less as a local up- rising that would be squelched as soon as the Union troops moved in. Until that time everything had been rather brotherly—"I wouldn't want to be seen with you at the front door, but we can talk at the back." Numismatically, we can see the truth of this. The first issue of Confederate notes issued at Montgomery was printed in the North before Bull Run and openly bears the imprint of the National Bank Note Company. But the next issue, from Richmond, and which usually bears the dates of August or September, 1861, only a month or two after Bull Run, bears the imprint of the "Southern Bank Note Company" rather than the true name of American Bank Note Company. That it was actually the American Bank Note Company can be proven by two notes: (11 Bank of Lexington, North Carolina, printed before the war, and which bears the vignette of Industry and Agriculture seated on a cotton bale. The note, bears the imprint of the American Bank Note Company. The same vignette appears on the $50 Richmond note of 1861, with the so-called Southern Bank Note Company imprint. The American Bank Note Company had a bad habit of using their vignettes over and over again: After the war we find the same vignette again appearing under their imprint on a South Carolina Railroad Ten Fare ticket of 1873. Except for later notes, many of the Confederate note designs originally appeared on Northern bank notes. Navigation seated beside globe and charts is a good example. This vignette appeared on a $5 note of the Ship Builders Bank, Rockland, Maine, during the 1850s. Following the war, we find the same vignette again ap- pearing on a bank draft of the Bank of California, pay- able in gold coin. Both bear the American Bank Note Company imprint, the pre-war note being of Rawdon, Wright, Hatch & Edson, which later became part of the American Bank Note Company. On Confederate notes this particular vignette appears on a $20 note of Septem- ber 2, 1861, printed by the Southern Bank Note Com- pany, in reality a new name for the New Orleans branch of the American Bank Note Company. The vignettes have definitely not been copied in this case because they are identical to, and show the superior quality of, work done by the American Bank Note Company. The main printers of Confederate notes during the last two years was Keatinge & Ball. Mr. Keatinge was an en- graver from Great Britain who was employed by the American Bank Note Company. In 1861 he moved South, formed a partnership with Thomas A. Ball and began producing paper money for the southern states. While much of his work is original, other notes contain the same vignettes as earlier appeared on pre-war notes. It has been generally believed that these vignettes were copied. Perhaps so. But, as the vignettes so used are always of kinds earlier used on notes produced by the American Bank Note Company, I am inclined to believe that when he left their employ he brought a number of their transfers with him for the express purpose of using them on southern currency. He may have purchased them outright or there may have been an understanding between him and the American Bank Note Company. 1.) //la,/ i( // //// r.' War/ 2e) te h/Mila iff.kul utiP• VOL. 3, NO. 2 Paper Money PAGE 33 In any case, I would like to offer as an example a note produced in 1863 for Mechanics Savings Bank, Atlanta, Ga. by Keatinge & Ball. If the center vignette was copied, why, may I ask, did Keatinge & Ball place the initials "R W & H" on the cotton bale? These initials stand for Rawdon, Wright & Hatch, one of the predecessors of the American Bank Note Company. Obviously the vignette came directly from a transfer he obtained from the American Bank Note Company because after the war, we again see the same vignette, this time under the name of its true owner, on a $1 note of the South Carolina Railroad. The Mississippi State notes with written dates of 1861, 1862 and 1863 show further proof of the connection of the American Bank Note Company, the Southern Bank Note Company, and Keatinge & Ball. The $100 note illustrates this. These notes were printed before June, 1861, or before Bull Run, so they openly bear the im- print of the American Bank Note Company, New York and New Orleans. The New Orleans part of the firm is the one that deemed it advisable to assume the name of Southern Bank Note Company after Bull Run. Now, examine a $1 Florida State note. It has the same vi- gnette, Negro with basket of cotton, as appears on the Mississippi note. But the note is printed by Keatinge & Ball. However, the background differs in the distance, so the vignette in this instance has either been copied or altered to avoid embarrassing the American Bank Note Company, whose imprint was appearing on the Missis- sippi notes at the same time. The American Bank Note Company could undoubtedly tell us much about Confede- rate notes—but their records are a closed book. reads, showing how easy it was to smuggle goods across the lines in the early days of the War. Of course, Balti- more was a hothouse of secession, but I hardly think this would have allowed them to commit the error that ap- pears on this note that of placing the Maryland State arms on a note of Virginia. The Camden County note also contains an error, that of having the word "Carolina" spelled "Carolna." Both were the result of wartime rush and shortage of type. (Beware of fakes of the "Carolna" note.) Prior to the war, we see some evidences of propaganda at play on southern banknotes printed in the North. For example, the Bank of Virginia $20 note shows two women holding a scroll which reads "Free and Independent States." On the Bank of Wadesborough, N. C. $5 note, the flag bears the inscription, "The Constitution and the Union." On the northern note of Adrian Insurance Co., Adrian, Michigan, $1, we seen an overseer watching men reap grain. Transferred to the $5 Planters Bank of Fair- field, Winnsboro, South Carolina, the workers have been altered to slaves picking cotton. Once the Civil War was under way, bank notes became redeemable in Confederate currency, and southern vi- gnettes gradually replaced those of the North. An inter- esting example is a note issued by the Mechanics Savings & Loan Association, Savannah, Georgia, which shows a U. S. quarter dollar. First printings bore the words "United States of America" on the quarter, but this was later chiseled off the cut and removed. A 25c note of the Augusta Savings Bank shows the first Confederate flag. Still another example of the use of the same vignettes is that of the Bank of Chicago, the center vignette of which later appeared on the wrongly dated $10 Confede- rate note of September 2, 1862. Some notes bear obvious copies of vignettes, and not very good ones at that. Consider the girl appearing on the Chicago County Bank, Taylor Falls, Minnesota, note which later appeared on a $2 note issued by the State of Missouri. So far we have mentioned both Confederate and State issues in addition to those issued by banks. But paper money was also issued in the South by Counties, Cities and individuals. Examples are the Winchester, Virginia notes and Camden County, North Carolina notes. The Winchester $1 note was printed in Baltimore and so Confederate and southern state notes sometimes bore the same vignettes. An example that goes even further is the $50 Confederate note of July 25, 1861 which pic- tures Washington and Tellus. The same vignettes appear on Florida state notes and on a $1.50 note of the South- ern Manufacturer's Bank in Richmond, all printed by Hoyer & Ludwig. As earlier mentioned, towards the end of the conflict Keatinge & Ball printed the bulk of the Confederate cur- rency. For this they were paid in gold. But for frac- tional amounts to pay their workers, they printed their own scrip because there was no coin in circulation. They apparently did not flood the country with it as was the case with the Confederate notes they printed because this scrip is now very rare. PAGE 34 Paper Money VOL. 3, NO. 2 An example of Keatinge & Ball's original work is the $500 note of 1864. It was probably not produced until late in the war as indicated by the plain back. All of the other denominations except the lowest contain printed backs, which would be even more important on the high- est denomination of this issue. Apparently the rush and confusion of the last months of the war prevented getting a reverse plate made. What was life like during the Civil War? Judging by the newspapers, until near the end, or until Sherman Notes of the Bank of the State of Georgia are often found stamped "Paid 25% Gold." Bank of Augusta, Georgia notes are sometimes seen with a stamp mark reading "84 62/100% Paid." Still, some notes appar- ently did not lose all their value after the banks recovered following the war, as shown by a note of the Traders Bank in Richmond which bears a stamp marking show- ing that it was paid in 1882. Mississippi issued notes which stated that cotton was pledged for their redemption. Since they could not sell started marching through Georgia, life went on as nor- mally as could be expected in wartime. I have a num- ber of southern newspapers of the Civil War, and the one thing that stands out is the lack of censorship. The war should have been easy for any general who read the newspapers. The southern papers printed exact accounts from New York on Northern troop movements, while at the same time telling exactly where Stonewall Jackson was at the moment, and with how many men and guns. No one ever needed any spies to know what the other side was doing. While the editors tended to favor the south- ern side, if the Confederates were routed, they admitted it. The government was attacked when they saw fit. Slaves were still bought and sold as were new fall and winter clothes, insurance policies and cooking extracts. The price of a newspaper seems to have risen a dollar a year during the war, but I do not consider that unusual in view of the widespread depreciation of the currency. Thus, in 1863 the Camden Confederate newspaper was selling at $3 per year of 52 issues, or about 6 cents a copy. That the Confederate States had inflation and had it badly can be seen more readily by examining certain bank notes. the cotton because of the blockade, the following issue was redeemed in "Faith." In an effort to reduce the amount of currency in circu- lation, the Confederate States issued interest hearing notes in 1862 which it hoped the people would hold as a security. These bear interest paid markings on the re- verse. Under the Act of March 23, 1863, earlier issues of Confederate notes were to be withdrawn and replaced with the 1863 issue. Many were never turned in, and of those that were, some were re-issued by stamping with a red or black stamp reading "February (or March). 1861, Accepted as a Note Issued under Act of Congress of March 23, 1863." Confederate notes were counterfeited just as has been every other kind of money since it was introduced. In the North, S. C. Upham produced imitation Confederate notes which are easily detected even though his adver- tisement at the bottom is sometimes cut off. However, these were an irritation in the South also, as they were often brought in by Northern soldiers. Such is my introduction to Southern currency, the mirror of a war and a tenacious way of life. To assure receipt of magazines, members should promptly notify the Secretary of any change in addresses. ssn-ul-r ssn-ul-r ssn-ul-r ssn-ul-r ssn-ul-r ssn-ul-r ssn-ar-r ssn-ar-r ssn-ar-I lsn-ar-r Isn-ar-I ur-I ur-I ur-1 ur-1 ur-1 ur-1 ar-1 ar-1 ar-r ssn-ur-4 ssn-ur-4 ssn-ar-4 ssn-ar-4 ssn-ar-8 lsn-ar-4 lsn-ar-8 VOL. 3, NO. 2 Paper Money PAGE 35 Minor Variations in Goldbacks By The Rev. Frank H. Hutchins It is more difficult to write about the gold certificates than any other U. S. paper because possession of them has been illegal for so long a period. Some goldbacks do continue to exist, however, and from them it is pos- sible to come to certain definite conclusions about the minor variations that exist in these, as well as in the legals and the silvers. I covered the latter in my article on "Minor Variations in the Large Size Notes" in Paper Money in the Summer 1962 issue, Vol. 1, No. 3. The small size gold certificates present no variations. but the goldbacks have the same degree and type of varia- tions as the silvers and legals do, with one addition. That is the enlargement, on the tens and fifties, of the serial numbers in the middle of the term of office of Speelman and White. As in the case of both the silver and the legal fives and tens, the goldbacks also had a change in the position of the plate numbers on their obverses, from a position under the left-hand check letter on the tens and under the right-hand check letter on the twenties and the fifties, to one uniformly after the right-hand check letter, in the term of office of Teehee and Burke. Following this, how- ever, none was issued in any denomination until the term of office of Speelman and White, so that it was at this time that all other changes were made. These were of two sorts: 1) the shift of the plate number on the reverses of the tens from the upper right to the upper left-hand corner, of those on the twenties from the upper left to the upper right-hand corner, and of those on the fifties from a position to the right of the lower semicircle of the central design to one to the left of it, or what has been described as a shift from an eight-o'clock to a four- o'clock position; 2) the increase in the size of the serial numbers of the tens and fifties mentioned above. These had always been reasonably large, but in the middle of the term of office of Speelman and White they were made enormous. Nor were these changes made consistently, some of each denomination appearing with ordinary-size serial numbers and the reverse plate number in the old position, some with the ordinary-size serial numbers and the re- verse plate number in the new position, some with the unusually large serial numbers and the reverse plate number in the old position, and some with the unusually large serial numbers and the reverse plate number in the new position. The following table shows all of the varie- ties that I have found, and of these I am still in the market myself for an 1198 and a 1200 ssn-ar-8, neither of which have I been able to procure. ssn—small serial numbers lsn—large serial numbers KEY OBVERSES ul—plate number ur—plate number ar—plate number REVERSES under left-hand check letter under right-hand check letter after right-hand check letter I—plate number in upper left-hand corner r—plate number in upper right-hand corner 4—plate number to right of lower semicircle, or at a 4 o'clock position 8—plate number to left of lower semicircle, or at an 8 o'clock position Friedberg I67—Vernon-Treat $10.00 168—Vernon-McClung $10.00 169—Napier-McClung $10.00 170—Napier-Thompson $10.00 171—Parker-Burke $10.00 172—Teehee-Burke $10.00 173—Speelman-White $10.00 181—Vernon-Treat $20.00 182—Vernon-McClung $20.00 183—Napier-McClung $20.00 181 Napier-Thompson $20.00 185—Parker-Burke $20.00 I86—Teehee-Burke $20.00 187—Speelman-White $20.00 198—Parker-Burke $50.00 I99—Teehee-Burke $50.00 200--Speelman-White $50.00 PAGE 36 Paper Money VOL. 3, NO. 2 The 1935 D $1.00 Silver Certificates By George W. Killian The 1935 D Silver Certificates bear the signature; of Georgia Neese Clarke (the first woman to hold the post of Treasurer of the United States) and John W. Snyder as Secretary of the Treasury; therefore, the 1935 D's were printed between June 21, 1949 and January 20, 1953, the dates they were in office together. Thus the 1935 D Silver Certificates were current during Harry S. Truman's administration. From the time the 1935's were first issued (in 1935), there had been no significant change in their design until during the production of the 1935 D's. During the production of the 1935 D's the reverse plates were altered to slightly reduce the vertical height of the de- sign. The change may be most readily seen by examin- ing a 1935 C and a 1935 E Silver Certificate. The "C" note will have a wider portion of the design below the words ONE DOLLAR while the "E" will have a narrower portion of the design under the words ONE DOLLAR. The 1935 D Silver Certificate may be found with both types of backs. The wider back (as on the 1935 C) is usually referred to as type I or W (Wide), while the narrow back (as on the 1935 El is referred to as type II, or N (Narrow). The rear plate numbers used for printing type I backs have numbers below approximately 5000, while the type II's are printed from rear plates having numbers above approximately 5000. [The number 5000 is picked from observation and is not to be considered official. The highest and lowest rear plate numbers I have seen on types I and II are 4971 and 5081, respectively. The change must have occurred between these numbers]. As pointed out in the article entitled Current Currency in the Spring 1963 issue of PAPER MONEY, our dollars are serially numbered with the first one hundred million notes having numbers with the letters A .... A; the next one hundred million notes with the letters B .... A and so on. I can not give the earliest official letter combination on the 1935 D's, but the earliest I have seen is in the T E series, and the latest I have seen is in the M G series. There is no specific serial letter combination after which one can say all notes will have type II backs. This results from the fact that the Bureau of Printing and Engraving prints the front and backs in separate printing operations and then later applies the serial numbers. Accordingly, while there is a clear change in the back starting with a particular rear plate number, stocks of both types of backs were available and printed with fronts and then numbered. Therefore, it is possible to find 1935 D Silver Certifi- cates with type II backs that have earlier serial numbers (including the letters, of course) than some of the 1935 D's with type I backs. For example, I have a 1935 D in the M F series with a type II back, and one in the E G series having a type I back. I also have 1935 D's in the P F series with both types of backs and with serial numbers differing by less than 25. In addition I have several sets of 1935 D's that have con- secutive serial numbers but which have different backs. This condition occurs when sheets with both types of backs are interleaved and then serially numbered. There is another area of general interest concerning a change in the 1935 D series, or more specifically a change between the 1935 D's and the 1935 E's, that is not generally known. The 1935 D's and earlier notes were printed in sheets of 12, while the 1935 E's were printed in sheets of 18. At the time this change was made, a change was also made in the technique for serially numbering the notes. With the 1935 D's and earlier $1.00 Silver Certificates, one could divide the serial number by six and the remainder would be the numerical equivalent (or six less than the numerical equivalent) of the position letter located in the upper left hand corner on the face of the bill. The following chart indicates the remainder and the corresponding position letters: Position Remainder Letters 0 A, G 1 B, H 2 C, 1 3 D, J 4 F, K 5 F, L This, of course, means that consecutively numbered certificates were from different positions. But surpris- ingly enough, 12 consecutively numbered notes of the 1935 D series were not from all 12 possible positions. Instead, a group of consecutively numbered notes would come from positions A to F or G to L but not A to L. I can speculate that these facts mean either: a) The original sheet of 12 notes is cut in half before numbers are added and the numbering machine will only accom- modate a sheet of six notes, or b) The numbering machine will accommodate the sheet of 12 notes but that a large block of numbers is reserved for positions A to F and an equivalent block for positions G to L. In either case, since all numbers on a given half sheet are consecutive, the counters for each position must advance six after each impression. That is. notes from the same position on consecutive sheets will have serial numbers differing by six. In either case, if pre-printed sheets with both types of backs were interleaved and then serially numbered, notes would be produced having consecutive serial numbers but different type backs. In any case, two such notes would have to come from different sheets because all notes on a given sheet have the same back. (CONTINUED ON PAGE 38.) Osmun David Cassel Wismer, pioneer bank note dealer and student. VOL. 3, NO. 2 Paper Money PAGE 37 "BROKEN" Bank Notes "OBSOLETE" "HISTORICAL" By C. E. Wismer ( EDITOR'S NOTE: Terminology in the paper money collect- ing field leaves much to be desired. A prime example of mis- leading terminology is "broken hank notes." This term is not only inaccurate but reflects a bad image of the entire hobby. In an effort to achieve clarity and brighten this image in the public eye, Mrs. C. Elizabeth Wismer Osmun, daughter of the late paper money pioneer, D. E. Wismer, has submitted the following discussion. I-ler aim, like that of such hobby leaders as George Wait, is to replace "broken hank notes" with a more accurate term.) The connotations of a word or term have great im- portance. Therefore, terminology should be selected with accuracy. The terms in the title of this article are all correct, and you may choose whichever appeals to you. In fact, in Scott's Paper Money Catalogue, edition of 1894 prepared by Lyman Low, this material was designated "uncurrent bank notes." The late D. C. Wismer, pioneer authority on bank notes who devoted 59 years to study and research of banks and bank notes covering the era from 1781 to 1866, commented on the deceiving terminology in his business letters. In answering one of his customer's letters, he wrote in the 1930s: "I have some bank notes to offer but none are broken; some are torn and ragged. If you want bank notes, say bank notes. There are only bank notes in my own collection and script (paper money not issued by bank), etc." In another letter dated Feb. 15, 1937, he wrote, "I would be greatly obliged to you if you would discontinue the use of the term 'broken bank notes.' As a matter of fact, it was started by a few dealers in 1905.* The Hon. John Jay Knox in his 880 page book A History of Banking in The United States, published in 1900, never used 'broken' when writing about the early banks and their issues . . . ." One of the reasons for using the word "broken" is revealed in D. C. Wismer's letter dated May 26, 1939: "After the bank notes were discontinued in 1866, they were called 'obsolete bank notes' until about 1905. A paper money dealer then saw a note stamped 'broken bank' and started to call all the old notes 'broken bank notes' because he knew that many of the banks were in operation, and he could get the notes cashed by the bank of issue. One paper money man, a very eccentric person, had a list printed of the good banks of which he wanted notes. The current price he paid, or did not * George Wait has examined a document of the Civil War period that refers to "broken, closed and worthless banks." It also refers to a specific note as being "altered from a broken bank." pay if he could avoid it, was 10c to 25c for notes he could cash in at face value from $5 to $10 or more, depending upon denomination. "For a number of years dealers and collectors have followed suit in using the word 'broken,' but I have been writing to many of them in an effort to have the use of the word discontinued. My advice is followed now by many, and I am in hopes of eliminating it altogether. "These old bank notes have a great historic value because our present currency is a direct descendant of the old bank notes and paper money as formerly current. Most of the notes were printed from steel engraved plates that were the work of the best artists of the period and are real works of art. Of course, the good, genuine bank notes are becoming very rare. One drawback is that there are many counterfeits of the genuine notes. You ought to see one of those old Counterfeit Detectors that every business man was almost compelled to have on hand to know the notes that were imitations, etc." Finally, another D. C. Wismer letter of 1937, referring to the West River Bank of Jamaica, Vermont, reads: "Until liquidation was completed, all or any of those West River Bank notes that were issued by the bank and presented for payment were redeemed. What is the sense of calling these notes by that old term 'broken bank notes' that meant that the bank had failed and was intended to give the bank a bad name, when in many cases the notes were fully paid?" PACE 38 Paper Money VOL. 3, NO. 2 Illustrated here is a $5 note of the Piscataqua Ex- change Bank of Portsmouth, N. H. Its history empha- sizes the error in calling all obsolete bank notes "broken bank notes." The Piscataqua Bank was established in 1824; the name was changed to The Piscataqua Ex- change Bank in 1844. It continued with that title until 1863 when it converted to the First National Bank. All of the issued and signed Piscataqua Exchange Bank Notes were redeemed in gold and silver coins of the United States as far as is known. This is a typical example of notes redeemed in the 1863-65 period after the National Bank Act was passed. Approximately 922 state banks were converted to na- tional banks during the three-year period. After all had changed to national banks, they listed "state bank notes outstanding" together with the estimated amount of money held for their redemption under "Liabilities" on their statements. Some of the banks that are still operating will redeem their obsolete notes issued under state charter. Thus, the term "broken bank notes" is not only misleading but in some cases, downright false. Moreover, the broken bank note term should never apply to scrip and southern state notes. Obviously, then, the better term is "obsolete bank note," with the adjective "historical" added when more description is needed. The 1935 D $1.00 Silver Certificates (Cont'd. from Page 36.) Therefore the consecutive notes with different backs (change-over pairs) would have to be from the last posi- tion of one of the halves of the original sheet of 12 (position F or Ll and from the first position of the corresponding half of the next original sheet of 12 (position A or G). That is, the change-over pairs could only be from positions F and A or L and G, but either position could be type I or type II. All change-over pairs I have, or have seen, are from the positions as described. Starting with the 1935 E's, the serial numbering technique changed so that 8000 consecutive numbers were all from the same position. This new numbering technique is used on all bills in current production ex- cept that with the 1957's and 1963's, 20,000 consecu- tive numbers are from one position. The relationship between the serial numbers and positions of the 1957 series of Silver Certificates is disclosed in an article in the Summer 1963 issue of PAPER MONEY. The same relationship is used for the new $1.00 Federal Reserve Notes. As a result of carelessness on my part, the lay- out of the 32 positions is not shown correctly in the cited article. The Treasury Department has now indicated that the layout is: Al El A2 E3 BI Fl B3 F3 CI GI C3 G3 DI HI D3 H3 A2 E2 A4 E4 B2 F2 B4 F4 C2 G2 C4 G4 D2 H2 D4 H4 I have been advised that the last of the 1935 D's were printed by the process used for the 1935 E's. If this is correct, it would mean that 1935 D's are available from positions M to R and that on these 1935 D's the remainder, when the serial number is divided by six, will not indicate the position as described above. I will appreciate the opportunity to see a 1935 D that came from an original sheet of 18 and will swap a crisp uncirculated change-over pair for a crisp uncirculated sample of such a 1935 D. Although the data given is believed to be reliable and accurate, it should be under- stood that all information is based on observations and deductions only. The author will welcome any additional information that any reader can provide concerning the 1935 D Silver Certificates. 4oft. ClutttuAg fiber t- .9er 2ttIttste ber 3tOcn to ittp■AnnstAb y. VOL. 3, NO. 2 Paper Money PAGE 39 The Ghetto Litzmannstadt and Its Money By David Lodz, the second largest city in Poland, had been known until World War II for its very fine textile in- dustry. This city used to be called the "Polish Man- chester." The Jews in Lodz, a minority of about 20,000, held a key position in the textile industry of this city and its trade. Soon after the Nazi invasion of Poland, the name Lodz was changed by them to Litzmannstadt, in memory of a German officer who was killed near Lodz in the First World War. When the Nazis entered Lodz, the darkest days of the Middle Ages returned to the Jewish population. They were deprived of all civil rights. Robbery, manslaughter and banditry were their daily bread. In February, 1940. all Jews were confined to a special quarter surrounded Atsmony by a high wall of barbed wire. This was the "Ghetto Litzmannstadt." It is interesting to note that the mean- ing of the word "ghetto" in Italian is an "iron foundry." In the 16th century, the so-called "Jewish Quarters" in Venice were located near a famous iron foundry. By order of the German authorities special notes were issued for the use of the Jews. The "Jewish Elderman in Litzmannstadt" (Der Aelteste der Juden in Litzmann- stadt), M. Rumkovsky, was made responsible for the printing of these notes. The "Central Finance" Pool of the Ghetto was ordered to execute the job. The purposes of the Germans were: a) to isolate the Jews in the Ghetto and to prevent them from getting in touch with the world outside the wire fence, and b) plain The 1 mark Litzmannstadt note, obverse and reverse. guilt:tarts tibrif 3roani WED DM QUITTON GI V L JXL SCNT 0010. NRCHWAC MT ODER OFFIRLSCRIE QUITTU$10111 IN VIRKEHR 1111.INGT / WIRD SI REMO 1 TR II $ SISTR AFT -***10131X4:404 114 "otliirofitiroltwo;44o0o. "orsokoollgoo *irk _ AtAkiloliktromoor,o,1104;diroostoomitor Alto. Atolf, :0141).fimptititoifoono.,49,46.0,4" JOAO 1; Mr Neroli, 47417 147,21, ....*:....ollte.elf.*:1), o" *we; ;troawslifoo w! to; Aoliwoomplitiroitoom,. . 1. sitwollttrooltoro.414.- .. '3104** ' " t ,•."' - ' soroAKIEWINImita• qr r - W impinge 74' ' 2230 PAGE 40 Paper Money VOL. 3, NO. 2 legal robbery. In house-to-house searches (Aktion), the Germans confiscated all money and valuables possessed by the Jews and in exchange gave "receipts" (Quittung in German ) which, of course, had no practical value. The notes were printed in the Ghetto printing house in denominations of 50 pfennig, 1, 2, 5, 10, 20 and 50 marks. The 10 and 20 mark notes were printed on two kinds of paper, both with and without watermarks. They were dated 15th May 1940 and signed by the Jewish Elderman, M. Rumkovsky. Each note had an imprint of the David Shield and the seven pointed candlestick. The Elderman invited the well-known painter Brauner to draw a sketch of the notes. The artist drew one worthy of his calling, i.e., on the background of a rising sun there was a man angrily shaking off his chains. The Elderman was furious with rage and tore the fine sketch to pieces. The notes were of great value in the Ghetto, especially after they were first issued and could buy the very few necessities and services available. Some printers forged the notes and put them into circulation very successfully, but their brilliance turned out to be their trap. They The 20 mark Litzmannstadt note, obverse and reverse. VOL. 3, NO. 2 Paper Money PAGE 41 started to circulate the 2 mark notes even before the authorities issued genuine notes! After an extensive search, the Ghetto authorities located the counterfeiters and handed them over to the Nazis. While cross-examining the accused men, the Germans found that the forgers were highly skilled craftsmen. They were, therefore, transferred to the Sachsenhausen concentration camp and attached to a group which was counterfeiting the notes of the Bank of England. As the paper used for printing the Ghetto notes was of a very low quality, they were replaced with minted aluminum coins, the 10 pfennig in 1942, and the 5, 10 and 20 marks in 1943. In 1944 the Ghetto was liquidated by the Nazis. The Jews were deported to the gas chambers of Auschwitz and Chelmno. There the Nazis found the "final solution" for the remnants of the once brilliant and famous Jewish community of Lodz. QUIT TUNG UBEIt QUITTUNG FFI SO 50 PFENNIG IIA •ILTiiTt Oil /UPI• 111 1{171A/ VISTAIT ttverAso ran agrAi OR I:IIInsiAt AAA AvAeol own, 0111AMICIII vilAA.AA *51' A IA striAilf,"••,11IsTAAor The 50 pfennig Litzmannstadt note, obverse and reverse. VIRGINIA NUMISMATIC ASSOCIATION Invites You To Attend SIXTH ANNUAL COIN SHOW and CONVENTION at the GEORGE WASHINGTON HOTEL in downtown WINCHESTER, VA. SEPTEMBER 18, 19 & 20, 1964 COIN AUCTION to be conducted by PAUL SEITZ Friday Evening and Saturday Afternoon (DIRECT ALL INQUIRIES PERTAINING TO AUCTION MATERIAL AND CATALOG TO PAUL SEITZ, GLEN ROCK, PENNA. Show opens—Friday, 1 p. m. to 10 p. m.; Saturday, 9 a. m. to 10 p. m.; Sunday, 12 noon to 6 p. m. ADMISSION FREE PUBLIC WELCOME Children Under 12 Admitted With Adults Only MANY FINE EXHIBITS FREE DOOR PRIZES Hosted by SHENANDOAH NUMISMATIC SOCIETY, Winchester, Virginia SPECIAL FEATURE Re-enactment of the BATTLE OF OPEQUON or WINCHESTER will be staged by reacti- vated Civil War infantry, cavalry and artillery units Saturday afternoon. PAGE 42 Paper Money VOL. 3, NO. 2 The Small One Dollar Bill By H. N. Schwartz FR. Signatures Date on Combined Tenure Length of Time No. Treasurer of U. S. Secretary of Treasury Note Began Ended Yrs. Mo. Days 1400 H. T. Tate A. W. Mellon 1928 4-30-28 1-17-29 0 8 16 1401 Walter 0. Woods A. W. Mellon 1928A 1-18-29 2-12-32 3 0 25 1402 Walter 0. Woods Ogden L. Mills 1928B 2-13-32 3- 3-33 I 0 18 1403 Walter 0. Woods W. H. Woodin I928C 3- 4-33 5-31-33 0 2 27 1384 Walter 0. Woods W. H. Woodin 1928 3- 4-33 5-31-33 0 2 27 1404 W. A. Julian W. H. Woodin I928D 1405 W. A. Julian Henry Morganthau, Jr. 1928E I- 1-34 7-22-45 11 6 22 1406 W. A. Julian Henry Morganthau, Jr. 1934 1407 W. A. Julian Henry Morganthau, Jr. 1935 1408 W. A. Julian Henry Morganthau, Jr. 1935A 2126 W. A. Julian Henry Morganthau, Jr. 1935A 2127 W. A. Julian Henry Morganthau, Jr. 1935A 1412 W. A. Julian Henry Morganthau, Jr. 1935A 1413 W. A. Julian Henry Morganthau, Jr. 1935A 14C9 W. A. Julian Fred M. Vinson 1935 B 7-23-45 7-23-46 1 0 0 1410 W. A. Julian John W. Snyder I935C 7-25-46 5-29-49 2 10 4 1411 Georgia Neese Clarke John W. Snyder 1935D 6-21-49 1-20-53 3 7 0 1411A Ivy Baker Priest Geo. M. Humphrey 1935E 1-28-53 7-28-57 4 6 0 14116 Ivy Baker Priest Robt. B. Anderson 1935F 7-29-57 1-20-61 3 5 23 1411c Ivy Baker Priest Robt. B. Anderson 1957 7-29-57 1-20-61 3 5 23 1411 bb Elizabeth Rudel Smith Douglas Dillon 1935G 1-30-61 4-13-63 2 3 14 1411 bbx Elizabeth Rudel Smith Douglas Dillon 1935G 1-30-61 4-13-63 2 3 14 1411d Elizabeth Rudel Smith Douglas Dillon I957A 1-30-61 4-13-63 2 3 14 Katherine O'Hay Granahan Douglas Dillon I935H 4-14-63 Present Katherine O'Hay Granahan Douglas Dillon 1957B 4-14-63 Present Katherine O'Hay Granahan Douglas Dillon 1963 4-14-63 Present There are many things that can be written about the small one dollar bill. Few people realize how many different issues there have been in the last 34 years. Since the change to the small one dollar bill in 1928 and its first issue on July 10, 1929, there have been 26 variations of this bill. With two exceptions, all of the small one dollar bills have been Silver Certificates, the first note being a U. S. Note and the last, a Federal Reserve Note. The most frequent cause of change in the series of issue is a change in signature of the Treasurer of the U. S. or Secretary of the Treasury or both. Other changes have been brought about as the result of the change in the legend and a change in location of the date or the seal. There was only one issue of the Legal Tender (U. S. Note) Note and it was described as series of 1927 and signed by Woods and Woodin. The first small one dollar Silver Certificate note was dated 1928 and signed by Tate and Mellon. It was followed by the 1928-A series, signed by Woods and Mellon; 1928-B series, signed by Woods and Mills; 1928-C series, signed by Woods and Woodin; 1928-D series, signed by Julian and Woodin; and the 1928-E series signed by Julian and Morganthau. All of the notes issued up to date are known as the "has been" notes because they stated, "This certifies that there has been deposit in the Treasury of the U. S., one silver dollar payable to the Bearer on demand." The next series was that of 1934, signed by Julian and Morganthau. This and all succeeding series read "There is on deposit in the Treasury of the U. S. one dollar in silver payable to Bearer on demand." The first bill provided the payment of one silver dollar and the latter provided one dollar in silver. This bill also changed the position of the seal to the right side of the bill and the numeral ONE to the left side. All of the foregoing bills contain the large printed ONE on their reverse side. The 1935 series was also signed by Julian and Morganthau, but the reverse of the bill was now changed as well as the size of the seal and the place of the date.* The 1935-A series was also signed by Julian and Morganthau. The 1935-B series was signed by Julian * Both sides of The Great Seal of the United States were im- printed on the back of the 1935 note for the first time and are on all succeeding notes. MAGAZINE TYPE BINDERS FOR YOUR Papa MonRy A high quality permanent binder in durable green Colonial grain DuPont Fabrikoid. Just place a wire in center of magazine and snap in place. (Wires furnished) Holds six years supply of "Paper Money". Title is lettered on spine in gold. Price: $4.00 each. Add 60c for postage & handling. Binders for "The Numismatist". As above in brown. Holds one years supply. Title, Date and Vol. No. in gold. Available for years 1958 thru 1964. Price: $3.75 each. Add 60c for postage and han- dling. (7 binders, 1958 thru 1964 at $23.45 postpaid.) NORRIS BOOKBINDING CO. P. 0. Box 305 Greenwood, Mississippi (ANA #43378 - SPMC 255) (This size can be supplied without lettering. Suit- able for storage of any pamphlet up to 9x6 inches.)PREVENTS LOSS * EASY TO USE VOL. 3, NO. 2 Paper Money PAGE 43 and Vinson, the 1935-C series by Julian and Snyder, the 1935-D series by Clarke and Snyder, the 1935-E series by Priest and Humphrey, and the 1935-F series by Priest and Anderson. None of the above notes had the motto "In God We Trust" on the bills. However, the series of 1957 which was also signed by Priest and Anderson did have the motto on the back of the bill. We then had a 1935-G series signed by Smith and Dillon without the motto and a 1935-G series by Smith and Dillon with the motto. There was also a 1957-A series signed by Smith and Dillon with the motto. Both the 1935-H series and the 1957-B series bore the motto and were signed by Granahan and Dillon. By now you will observe that the date of the bill has very little to do with the date of issue and only by determining when the two people whose names appear on the bill were in office can you approximate the year it was issued. You may also ask why have a 1935-H and a 1957-B series when both are signed by the same people in the year 1963? The explanation is that there is a different process involved in making the two bills. During World War II there was a 1935-A series note, signed by Julian and Morganthau, that was issued as an experiment to test a new type of substitute paper. The one dollar bills were surcharged with the letters "S" or "R" in vivid red ink to determine the length of life of these bills. It was concluded that the new paper sur- charged "S" was not adaptable to the wet intaglio process of printing. There was a 1935-A note signed by Julian and Morganthau with a brown instead of a blue seal and surcharged "Hawaii" on both sides. This was issued to our Armed Forces in Hawaii during World War II after the attack on Pearl Harbor. There was a 1935-A series, signed by Julian and Morganthau, Silver Certificate with a yellow seal instead of a blue seal issued for use by the Armed Forces in Europe and North Africa during World War II. On June 4, 1963, Congress repealed the law of issu- ance of one dollar Silver Certificates and the new one dollar bill dated series 1963, signed by Granahan and Dillon, became a Federal Reserve Note. With the pass- ing of this law a monetary era came to an end because we no longer have any circulating paper currency with a specific metallic redemption. So goes the history of the small one dollar bill. PAGE 44 Paper Money VOL. 3, NO. 2 * The Trading Post * The members listed below are interested in trading notes. Please contact them directly if you are interested in trading. The fee is $1.00 per listing for two issues. Please note new categories. 1. U. S. LARGE NOTES 2. U. S. LARGE NATIONAL BANK NOTES M. 0. Warns P. 0. Box 1840 Milwaukee 1, Wis. 3. U. S. SMALL NOTES M. 0. Warns P. 0. Box 1840 Milwaukee 1, Wis. Larry Young 718 E. Central Avenue Miamisburg, Ohio-45342 Joseph S. Grant P. 0. Box 2085, Sta. D Pasadena, California-91105 George W. Killian 162 Seneca Road Rochester, New York-14622 Hilbert G. Berka 1424 W. Oklahoma Avenue Milwaukee, Wisconsin-53215 Lynn Earl Jones 712 E. Holland Street Washington, Illinois Thos. C. Bain 3717 Marquette Drive Dallas, Texas-75225 4. U. S. SMALL FEDERAL RESERVE NOTES Thos. C. Bain 3717 Marquette Drive Dallas, Texas-75225 5. FOREIGN CURRENCY 6. OBSOLETE PAPER MONEY (Colonials, Continental, Confederate, Broken Bank Notes, Scrip, etc.) Hilbert G. Berka 1424 W. Oklahoma Avenue Milwaukee, Wisconsin-532I5 T. B. Hollingsworth 3053 Bonbrook Drive Winston-Salem, North Carolina 7. MILITARY CURRENCY (War, Occupation, Concentration Camp, and Emergency Issues) Thos. C. Bain 3717 Marquette Drive Dallas, Texas-75225 8. FRACTIONAL CURRENCY Hilbert G. Berka 1424 W. Oklahoma Avenue Milwaukee, Wisconsin-53215 9. MISMATCHED SERIAL NO. NOTES James W. Seville P. 0. Box 866 Statesville, North Carolina-28677 How and What to Write for This Magazine By Barbara R. Mueller, Editor We Americans are the world's best communicators— verbally speaking. But when we attempt to put pencil to paper, we become tongue-tied. These mixed metaphors may be grammatically reprehensible, but they do serve to emphasize the chief stumbling block in the way of potential authors of Paper Money articles: "I can't write." Very few of us can write—in the Hemingway or Bruce Catton sense. But Paper Money is not a literary journal. It is a journal of records and facts to be presented clearly, accurately and impartially. Therefore, every member who has the facts about any facet of paper money collect- ing is a potential author. The first step in preparing the article is the assembling of the facts according to a well conceived outline. The next step is the simple matter of writing them down in that order. If the outline is logical, the facts will together build a tight, comprehensible article. Last, check for spelling, grammar, etc.. but do this chore with a light heart. The editor is a good backstop. Now type your article on a good grade of bond paper. Be sure to double-space. Leave at least one-inch mar- gins at the sides and top, one and a half at the bottom. Number each sheet. Use one side of the paper only. Don't try for clever titles. As a rule, they are out of place in a journal such as ours. Call a spade a spade. If your subject matter requires illustration, you have two courses of action. One, submit the notes or other material to the editor, who will photograph them. Two, do the job yourself or have a photographer do it for VOL. 3, NO. 2 Paper Money PAGE 45 you. The second course is the better because it does not involve sending valuable property through the mail. In addition, you will own the negative. Photographs of notes should be close to actual size, whenever possible, to allow for reduction by the photo- engraver. (Reduction makes for a sharper image.) However, a print as small as 4 1/2x2 inches can be used. All prints should be glossy, quite contrasty, very black and very white, and printed on single weight paper. Tell your photo-finisher that you want a print for reproduc- tion purposes. Of course, our budget for illustrations is limited. A good rule of thumb is two cuts per one thousand words unless the article requires a great deal of illustration to make it useful. If captions or credit lines are necessary, be sure to type them on a separate sheet of paper. Number your prints lightly in pencil on the back; include your name. Never, never use paper clips on photographs. They dent the surface so badly that the marks will reproduce on the engraving. Mastery of these technicalities does not automatically insure a good article. You must have something to say; you must stick to one subject unless you are writing an informal commentary (which we don't need). We do need articles on counterfeit detecting, histories of specific banks, banking histories of states, and any human interest stories connected with the printing, issu- ance or usage of bank notes. In the future we intend to include more foreign ma- terial than is presently used. In this field, especially, the author should resist the temptation to write in generali- ties. He should deal with one subject at a time. Mounting, preservation and exhibition of bank notes is always a prime subject. We need how-to-do-it articles on these subjects. Paper money collecting, as contrasted with philately, is in its infancy in achievements in collec- tion presentation. There is room here for pioneering. Our knowledge of printing methods and varieties is in its infancy, too. Philatelic literature is replete with tech- nical treatises on intaglio printing and its vagaries, most of which are applicable in principle to paper money pro- duction. Our students in this field would do well to emulate their philatelic brethren and set rigid standards for major and minor variations. The need is not for major articles alone. An editor always needs "fillers"—little nuggets of useful informa- tion packed into 25-200 word packages. Another useful space-filler would be a "What Is It" section, for which members could submit puzzling notes and ask the help of others in identifying them. The remuneration for all this work? It is not mone- tary—only six complimentary copies of the magazine. Although we would like to flatter ourselves and say we do it for the prestige, the truth is that we do it for each other. The rewards lie in this mutual service. Only in this way can our hobby prosper, both materially and intellectually. India Paper By Clarence W. "India" paper, so called because imported into Great Britain via India, is made in China, and is properly called China paper in Europe. That used by American line engravers for printing the finest clear impressions from line engraved and etched steel dies and plates is imported by them direct from China. Marco Polo, the Venetian, extensive traveller in Asia, wrote about 1300 A. D. that the Chinese made paper from a thin white film which grows between the heartwood and bark of the mulberry tree. Laboratory analysis made from samples provided to Dard Hunter, Jr., indicates that "India" paper is made from one of the grasses, such as sugar cane, corn, esparto, bamboo, or the cereal straws. "India" paper arrives in America in sheafs of assorted hand-made sizes varying from about 3x3 inches to about 12x14 inches. Many sheets have to be discarded because of flaws, including fibers, light color spots, small air holes, and even grit which would scratch the soft steel. After selection some sheets are hand shaved to remove such defects. This paper used for die proofs is very thin, transparent, pure white with a silky texture and seldom shows any "laid" screen marks. Being hand-made it varies in thickness from .0015 inch to .0035 inch, be- coming more opaque with thickness, and it also varies in thickness in different parts of the sheet. It often contains Brazer, D.Sc. pin-size air holes that are inherent in this paper when made and printed. When aged it may become a faint yellow in color. This paper contains no sizing and quickly transmits moisture (which stamp paper does not). Small pieces may be carefully immersed in clear water, gently removed and dried between smooth white blotters under light pressure, and when dry will resume their original condition. When used for steel die or plate printing, paper must be damp to remove the ink from the steel engraving. India paper, being so thin and frail when damp, is placed over the polished surface of the inked steel die and is covered with a soft card called blotter to protect the paper under pressure of printing. The pressure sinks the metal die or plate into the blotter card, which absorbs the paper moisture, and the paper is pressed into the en- graved ink filled lines and dots, which adhere to the paper and leave the engraved steel clean. As no adhesive is used, the printed paper later may come loose from the blotter card, which then usually shows the engraved lines raised upon its smooth sunken surface. When the India paper is exceptionally thin, even the ink color may be lightly forced thru the paper onto the card. (Reprinted from The Essay-Proof Journal, No. 48, October 1955, by permission of The Essay-Proof Society.) PAGE 46 Paper Money VOL. 3, NO. 2 SECRETARY'S REPORT New Membership Roster Dealer or No. Name and Address 676 Rev. Robert T. Webster, 418 Center Avenue, Clarks Summit, Pa. 18411 677 Joseph D. Attwood, 3367 North Karlov Street, Chicago 41, 111. 678 Robert J. Gelink, 433 Robinson Avenue, San Diego, Cali- fornia 92103 679 Thom E. Lloyd, 6111/2 Sherman Street, Johnstown, Pa. 15905 680 George Hollanshead, R. R. 1;5, Upper Sandusky, Ohio 681 Neil Shafer, 1220 Mound Avenue, Racine, Wisconsin 53404 682 Allen E. DeHaven, 815 Winchester Avenue, Martinsburg, West Virginia 25401 683 Lester L. Kerner, 16 Elizabeth Street, Buckhannon, West Virginia 684 Captain John L. Harrell, 05307221, CSD MAAG Vietnam, APO 1143, San Francisco, California 685 Nancy J. Opitz, 3623 North 62nd Street, Milwaukee, Wisconsin 53216 686 John J. Proios, 247 Maple Avenue, Rockville Center, New York 687 Mrs. Joseph Struzinsky, Middle Road, Horseheads, New York 14845 688 August L. Morsch, 45 Cleveland Avenue, Newark, New Jersey 07106 689 George R. Bardsley, 748 West Camino Real, Boca Raton, Florida 690 Bert Hart, 1340 Mound Street, Madison, Wisconsin 53715 691 Robert C. Zeigler, Sr., 217 Bland Avenue, Bucyrus, Ohio 44820 692 Santiago Halais, Apartado 1146, Caguas, Porto Rico 693 Dr. Joseph H. Danoff, 173 Henry Street, New York, N. Y. 10002 694 Charles F. Warren, 123 Madison Road, Willow Grove, Pa. 695 Oswin Keifer, Bostwick, Nebraska 68931 696 Tony Craig, 1653 Taylor Avenue, Racine, Wisconsin 53403 697 Warren F. Brown, 1422 Graham Court, Rochester, Minne- sota 55901 698 E. W. Whitten, 71 Radcliffe Road, Springfield, Illinois 62703 699 Robert D. Harmon, 3560 East 2nd, Topeka, Kansas 66607 700 J. Oscar Townsend, 124 Main Street, Logan, West Vir- ginia 25601 701 Charles Christensen, 234 Sunset Road, W. Palm Beach, Florida 33401 702 Alan Moore, WNYC-TV Room 8016, 350 Fifth Avenue, New York, N. Y. 10001 703 C. A. Ruisinger, Jr., 10205 East 85th Terrace, Raytown, Missouri 64138 704 Wayne L. Morgan, 620 South Spring Street, Springfield, Illinois 705 Sidney A. Goldman, 4 Sunset Lane, Springfield, Illinois 706 Robert J. Williams, 24 Hillcrest Terrace, Verona, New Jersey 707 Louis W. Van Belkum III, 1373 Blanchard S. W., Wyo- ming 8, Michigan Collector Specialty C Paper Money C Obsolete issues C, D Foreign Paper Money C C U. S. Currency C Philippine, C. & S. American, Worldwide C, D Coins and paper money C U. S. Currency, especially Fractionals C Indiana and other broken banknotes, Southern, CSA, Foreign C U. S. Paper Money C U. S. Paper Money C Silver certificates and small bills C Large currency C All U. S. Paper Money C U. S. Small size $1 and $2 C Currency Paper Money, gold coins, silver dollars, crowns C U. S. Paper Money C Military Currency and Foreign notes of artistic design C Broken banknotes and National Bank Notes from Nebraska and Kansas, also Military Payment Certificates C, D C Tennessee broken banknotes and state notes; Fractional Currency C U. S. large size and Fractionals C, D U. S. Paper Money C Fractional Currency C General C Barber Coins (1892-1916) C U. S. and Confederates C, D U. S. Currency C Obsolete and U. S. Paper Money C All U. S. Paper Money C U. S. $1 Notes and Fractional Currency VOL. 3, NO. 2 Paper Money PAGE 47 708 David M. Klausmeyer, 1730 Southbend Drive, Rocky C U. S. Coins and Currency River 16, Ohio 709 Thomas K. Browne, 8572 Peebles Road, Pittsburgh, Pa. C 15237 710 George W. Brannin, Box II, Great Bend, Kansas C General 711 Barrie R. Walters, 2519 Fourth Street, Trenton, Michigan C Small Currency 48183 712 Jack Stuppler, 3205 Emmons Avenue, Brooklyn, New C Postal and Fractional Currency York 11235 713 Clyde H. Proper, 29-63 215th Place, Bayside, New York C 11360 714 Dr. Francis W. Brill, 1318 Jackson Street, Scranton 4, Pa. C Small size Nationals and Federal Reserve Bank Notes 715 Walter B. Wendt, 16335 East Witzman Drive, La Puente, C California 716 Warren L. Heise, 1st Lt. Office, U. S. S. Enterprise C General (CVAN 65) Fleet Post Office, New York, N. Y. 09501 717 Edmund H. Kase, Jr., 600 Park Street, Apt. II, St. Paul, C U. S. and Canada, incl. error notes and odd Minn. 55103 serial numbers 718 DeHaven Develin, 145 Strafford Avenue, Wayne, Penn- C Small size U. S. Currency sylvania 719 James E. Doyle, Box 132, Sisseton, South Dakota C 720 Thomas R. Don, 100 Park Road, West Hartford, C Connecticut 721 Tom O'Brien, 11227 Stonybrook Drive, Grand Blanc, C Paper Money of Michigan; Fractional Currency Michigan 48439 722 Mrs. C. A. Boylan, 209 South Street, Avon, Massachusetts C Small bills 723 Robert P. Series, 62 William Street, New York 5, N. Y. C U. S. and Foreign 724 Paul A. Reardon, 238 West Johnson Highway, Norris- C U. S. Currency town, Pa. 19401 725 Donald T. Burnett, 1508 S. 7th Avenue, Maywood, Illinois C U. S. Currency 60153 726 Peter J. Sabados, 272 Hutton Street, Jersey City, New C Centered, uncirculated small size silver certi- Jersey ficates 727 Milton E. Smith, 809 Burris Avenue, Lake Bluff, Illinois C Confederate Money 728 Dr. Richard James Mayer, 3425 North Wisconsin Street, C American Racine, Wisconsin 53402 729 Herbert A. Raquet, 11 Mount Pleasant Road, Bedford, C U. S. Coins and Currency Indiana 47421 730 Ben E. Marcus, 3171 Orlando Road, Los Alamitos, Cali- C Small denomination bills fornia 731 A. L. Geer, 316 East 15th Street, Colorado City, Texas C Modern U. S. and Foreign 732 Arnold H. Schwartz, 149-05 79th Avenue, Flushing 67, C Small size U. S. notes New York 733 Carl E. Herbert, 1046 Bustleton Pike, Feasterville, Pa. C, D Coins and Silver Certificates 734 Bill Schneider, Rush City, Minnesota 55069 C 735 R. C. Brown, 232 West 4th Street, Greenville, Ohio C 736 William C. Baldwin, R. D. 5—Lenape Road, West D Chester, Pa. 19380 737 R. F. Fee, Box 642, Colorado City, Texas 79512 C U. S. National Currency 738 Benjamin J. Reynolds, R. D. it 1, Avondale, Pa. C Colonials, Continentals, Pa. Broken Bank Notes 739 Mike Schlotterbeck, RR 12, Box 19K, Centerville, C Bills of the last 50 years Indiana 740 Floyd R. Bolton, 3101 South Main Street, Elkhart, C General Indiana 741 Marvin H. Jacobs, 207 Deumant Terrace, Buffalo, New C All bills printed in U. S. A. York 14223 742 Jerome H. Remick, Box 742, Haute Ville, Quebec, P. Q., C Paper money of the world Canada 743 William E. Houser, 2108 Marlen Avenue, Pasadena, Texas C Silver certificates, Federal Reserve Notes 77502 744 Walter A. d'Hemecourt, 2205 Corinne Avenue, Chalmette, C Paper monies of New Orleans La. PAGE 48 Paper Money VOL. 3, NO. 2 745 Percy L. Rideout, 520 Commonwealth Avenue, Boston 15, C Paper money of Colonial New England Mass. 746 Edward E. Vitala, 14644 Graystone Avenue, Norwalk, C Foreign California 90651 747 Anthony Bacco, 62 Garibaldi Avenue, Lodi, New Jersey C U. S. Fractional Currency 07644 748 Jack Neer, 905 North Vulcan, Encinitas, California C 749 W. P. Schwartz, Jr., 1627 Hull Street, Richmond, Virginia C General 750 Herbert C. Bardes, 21 Waldron Avenue, Summit, New C U. S., Fractional, Broken Banks, Foreign Jersey 07901 751 W. K. Huffington, c/o Grenada Trust & Banking Co., C U. S. Currency Grenada, Mississippi 752 Bobby Sowell, 316 Humason, Lufkin, Texas C U. S. Currency 753 Emil P. Uhor, 844 Clifton Street, Follansbee, West Vir- C ginia 26037 754 Dr. Gustav Walter, 715 Tenth Street, Tell City, Indiana C Currency 47586 755 Meylert M. Armstrong, 178 Aquetong Road, New Hope, C U. S., Continentals, Broken Bank Notes Pennsylvania 756 Dudley E. Brown, 3515 Rock Creek Drive, Dallas, Texas C 72504 757 Ray S. Purdy, 1 Chester Circle, New Brunswick, New C U. S. Fractional Currency Jersey 758 James Edward Weaver, Box I I 4A, Agate Beach, Oregon C U. S., Fractionals, CSA, Southern States, Broken Bank Notes 759 Robert G. Halbert, 3345 C Nelson Courts, Fort Dix, C Change-over pairs New Jersey 760 Clyde G. Briner, Box 766, Venice, Florida C Paper money and coins 761 James S. Hurst, Vienna, Maryland 21869 C Obsolete U. S., Broken Bank and CSA 762 John C. Braun, 91 Centennial Street, Rochester, New York C U. S. Currency 14611 763 Leon J. Goodman, Jr., 63 East 9th Street, New York, C U. S. Coins and Currency N. Y. 10003 764 John T. Murphy, 42 Viola Street, Lowell, Massachusetts C American Currency and Silver Dollars 01851 765 Mrs. Henrietta B. Wilson, 53 East Grant Avenue, Roselle C Silver Certificates Park, N. J. 766 B. M. Stuart. M.D., 910 Shamrock Terrace, Boonville, C Type-paper and Coins Missouri 65233 767 George F. Browning, Jr., Bridgeport, Alabama 35740 C CSA, Southern States, Southern Broken Bank Notes, U. S. 768 Marty Martin, 3503 Link Valley, Houston, Texas 77025 C U. S. Currency 769 Bert L. McKenzie, Box 56, Otis, Colorado 80743 C, D National Bank Notes 770 Charles W. Petersen, Somers, Iowa C Colonials, Continentals, Fractionals 771 Sam Alford, 319 South Garnett Street, Henderson, North C U. S. Paper Money Carolina 772 Joe Kinney, 6326 Lexington Avenue, Los Angeles, Cali- C U. S. Currency fornia 90038 773 Mrs. Isabelle Stahley, R. R. 4, Syracuse, Indiana 46567 C, D 774 James McGowan, 210 Lysander Drive, Rochester, New C U. S. $1, 2, 5; Rochester Banknotes York 14623 775 Dr. Rubin H. Flocks, University Hospitals, Iowa City, C Coins, silver certificates and large sized currency Iowa 52241 776 Mrs. John H. Winchell, 5905 Osceola Road, N. W., Wash- C Minor Coins ington, D. C. 20016 777 T. Tackson Lowe, 1510 Gervais Street, Columbia, South C U. S. and Confederate Carolina 29201 778 Wellington V. Smith, 93 Walbert Drive, Rochester, New C Colonials, fractionals and large currency York 14624 779 George J. Gessner, 615 Goodyear Avenue, Buffalo, New C Silver Certificates York 14211 780 Q. David Bowers, Empire Building, Johnson City, New D York 13790 VOL.' 3, NO. 2 Paper Money PAGE 49 781 Tom J. Carson, Box 71, Stilwell, Oklahoma 74960 782 Mrs. Emma Frank, 1030 North 16th Street, Fargo, North Dakota 58102 783 Edward J. Brown, 13 North Monterey Street, Mobile, Alabama 784 Robert J. Lindesmith, Box 37, Dayton, Washington 99328 785 Mrs. Helen A. Legge, 1318 Mound Street, Alameda, Cali- fornia 94501 786 French F. Conley, 20644 Martinez Street, Woodland Hills, California 91364 787 Warren G. Webster, 22 Baker Avenue, West Concord, Massachusetts 01781 788 Sidney Domb, 3440 Wilshire Boulevard, Los Angeles, California 90005 789 James C. Kelly, 31 College Street, Schenectady, New York 790 William R. Barrett, 206 East Poplar Street, West Frank- fort. Illinois 62896 791 A. D. Covington, P. O. Box 516, Fayette, Mississippi Corrections of 568 Joe Elliott, 16C0 I Avenue, New Castle, Indiana 47362 614 O. Floyd Adams, P. O. Box 957, Thomasville, Georgia 31792 C, D C Star notes (Silver Certs), Change-over notes C Large sized notes and Alabama National Bank notes C U. S., Obsolete paper money (Colonials thru Civil War) C Small sized U. S. notes C General C Modern (U. S. and Canadian) C U. S. Coins and Paper C, D C, D Lincoln cents C All kinds Previous List C Colonials and Continentals; Indiana notes C United States Paper Money Reinstated 123 J. Wayne Hamilton, 1009 Edgmont Avenue, Chester, Pennsylvania 170 Frank R. Schell, 211 Condensery Road, Buhl, Idaho 83316 190 W. E. Addkison, 626 Chickasaw Avenue, Jackson, Missis- sippi 39206 260 Anthony Ptacnik, 129 Fairview Avenue, Somerville, New Jersey 285 Stanley J. Serxner, Maon Akademaim, Tsrif 10 Bet, Kiriat Amal, Tivon, Israel C U. S. Currency C U. S. Paper Money and Large Cents C CSA, Southern States, Obsolete banknotes C, D U. S. and Foreign C Central American, World Wide Change of Address 16 Dr. John H. Swanson, Room 229, East End YMCA, 7903 La Porte Freeway, Houston 12, Texas 23 Larry D. Richardson, P. O. Box 5515, Roanoke, Virginia 26 Dick Krotz, 6689 Metro Park Drive, Mayfield, Ohio 44124 56 Maurice Sklar, P. O. Box 5635, Sherman Oaks, California 91413 73 John Tracy Walker Ill, Sapphire Manor Apt. F-I, Brevard, North Carolina 75 Charles G. Altz, 125 Warner Avenue, Jersey City, New Jersey 07305 80 B. M. Douglas, 505V2 1 1th Street, N. W., Washington, D. C. 20004 134 Jacksonville Coin Club, 3875 Conga Street, Jacksonville, Florida 32217 145 H. B. Fleshood, 12 North Rowland Street, Richmond, Virginia 23220 160 Ardyce R. Twombly, North Hills Country Club, Man- hasset, New York 175 B. R. Buckingham, 426% 2nd Avenue East, Kalispell, Montana 239 A3C Robert P. Geden, SR 9-1-64B, Sec. 2, Det. 1, 3345th Tech. School (Skytop) Syracuse University, Syracuse, New York 13210 273 Charles N. Case, 3552 Livingston Avenue, Apt. B, Colum- bus, Ohio 43227 PAGE 50 Paper Money VOL. 3, NO. 2 282 Karl Scheuch, (638) Ober Eschbach, Lindenstrasse 9, West Germany 286 William C. Hatcher, P. 0. Box 3089, Kinston, North Caro- lina 28501 292 Peter G. Robin, G-2, Kevon Plaza, 52nd & Montgomery Streets, Philadelphia, Pennsylvania 19131 325 Donald B. Hoge, c/o Shell Oil Co., P. 0. Box 2099, Houston, Texas 342 Col. Grover C. Criswell, Jr., 401 Corey Avenue, St. Peters- burg Beach, Florida 33706 343 Edward B. Kirk, c/o E. Fidel, Apt. 2, 302 Washington Avenue, Albany 3, New York 12203 344 Dr. George Fuld, P. 0. Box 9035, Akron, Ohio 44305 352 Sammlung Albert Pick, Bayerische Hypotheken-und Wechselbank, 8 Munchen I, Postfach 30, West Ger- many 401 Charles F. Blanchard, 3343 Alamance Drive, Raleigh, North Carolina 402 Dr. M. R. Talisman, 62C0 S. W. 123rd Terrace, Miami 56, Florida 465 James Webb, 6241/2 South Grand Traverse, Flint 3, Michigan 517 Calvin Hunt, 3171 First National Bank Bldg., St. Paul, Minnesota 55101 524 William E. Benson, 4024 Montwood Lane, Dallas 29, Texas 542 Robert A. Jones, Box 483, Galt, Ontario, Canada 573 John J. Vaughey, 79 Edward Road, Watertown, Massa- chusetts 02172 576 George J. Regensburger, 620 Versailles Avenue, Apt. 16, McKeesport, Pennsylvania 635 Major Walter F. Rogers, USMC, c/o M. D. Swaringen, 385 North Church Street, Concord, North Carolina 28025 686 John J. Proios, 245 Lenox Avenue, Uniondale, Long Island, New York 697 Warren F. Brown, 2167 Mount Paran Road, N. W., Atlanta, Georgia 30305 Deceased 39 William H. Dillistin 104 Miss Minerva M. Lauer 238 Thomas A. Morrison 520 Arthur N. Malm, 7416 Yates Avenue, Chicago 49, Illinois Resigned 288 Dwight L. Musser, Box 428, Indian Rocks Beach, Florida 461 LCDR E. F. Block, 722 South Broom Street, Wilmington 4, Delaware Membership Expired 51 Allan Lieberman 311 C. F. Mackenzie 488 John Hegedus 59 Vernon R. Saunders 353 Jay E. Gilkey 501 Everett R. Crow 67 Edward K. Bell 362 James B. Shaffer 502 James W. Janz 87 Leo Laky 365 Steven A. Hiss 507 Ray C. Fahrenberg 115 John B. Hamrick 375 Gilvin A. Ayers 514 Eugene C. Heiman 145 H. B. Fleshood 377 Col. James W. Curtis 522 Mrs. H. A. Lingle 148 James Kirkwood 379 John P. Butler 525 Eugene Spruell 153 Irving M. Strong 381 Dennis E. Coyle 527 Henry Gogolin 179 James F. Dooley 416 Isao Gunji 563 Alphonse Beck 206 Tom Hanley 432 Carl Di Falco 243 George W. Bess 453 Walter W. Griggs WANTED (U. S. Large Paper Money) For Sale or Exchange F 1384 RED SEAL $1.00 1928 UNC. and IN NUMERICAL ORDER. Write to: SANTIAGO HALAIS BOX 1146 — GAUTIER BENITEZ ST. #18 CAGUAS, P. R. Member: A. N. A., S. P. ML C., S. N. P. R. WANTED FOR MY COLLECTION Obsolete bank notes of Maryland, especially shin plasters and sheets. Also rarer Colonial bank notes of Maryland. DR. GEORGE FULD P. O. BOX 9035 AKRON, OHIO 44305 PAPER MONEY WANTED $50 and $100 Gold Certificates U. S. LARGE SIZE CURRENCY U. S. SMALL SIZE CURRENCY U. S. FRACTIONAL CURRENCY LET ME KNOW WHAT YOU HAVE. LIST AVAILABLE STAMP PLEASE THEODORE KEMM 915 West End Avenue New York 25, N. Y. The Rev. Frank H. Hutchins 924 WEST END AVE. NEW YORK, N. Y. 10025 . . . FOR . . . GERMAN EAST AFRICA Coins Paper Money • Contact The Right Source LALJI RAMJI Stamp & Coin Dealer P. 0. BOX 562 Dar-Es-Salaam, Tanganyika East Africa MEMBER ANA 46693 - S. O. P. M. C. 436 WANTED FOR MY COLLECTION 1. $5 note Pioneers Assn. (Indiana) 2. $1, 2, 5 Thames Bank (Indiana) 3. Scarce Maine Obsolete Notes 4. Proof notes by the National Bank Note Co. 5. Other unusual obsolete notes 6. Die proofs of vignettes LARGE QUANTITY OF OBSOLETE NOTES AVAILABLE FOR TRADE OR SALE. GEORGE WAIT BOX 165 GLEN RIDGE, NEW JERSEY WANTED FRACTIONAL CURRENCY SHIELDS Please describe shield, frame, and state price in first letter. Write to: Mike G. Brownlee 1416 COMMERCE STREET DALLAS, TEXAS. 75201 A.C. 214 - RI 2-2526 WANTED Buy or Trade VIRGINIA COLONIAL, BROKEN BANK, STATE, COUNTY, TOWN NOTES AND BONDS Charles J. Affleek 34 PEYTON STREET WINCHESTER, VA. Scarce Texas Currency REPUBLIC OF TEXAS -- ISSUED FROM AUSTIN $ 1.00 Indian Brave Left Fine $10.00 Very Fine $1 5.00 5.00 Indian Brave Seated Fine 9.75 Very Fine 12.50 10.00 Hercules at Left Fine 9.75 Very Fine 12.50 20.00 Indian Left Fine 9.75 Very Fine 12.50 50.00 Steamship Fine 9.75 Very Fine 12.50 GOVERNMENT OF TEXAS 10.00 Ship Left-Lamar Signature Fine 9.75 Very Fine 13.50 Houston Signature Fine 12.25 Very Fine 15.75 50.00 Sailor & Flag-Lamar Signature Fine 9.75 Very Fine 13 50 Houston Signature Fin,, 12.50 Very Fine 15.75 CONSOLIDATED FUND OF TEXAS - 1837 HOUSTON ISSUE 100.00 Criswell CFI Very Fine 17.50 500.00 Criswell CF5 Very Fine 22.50 100.00 Criswell CF7 Very Fine 17.50 1000.00 Criswell CF12 Very Fine 27.50 AUSTIN ISSUE 100.00 Criswell CF14 Very Fine 25.00 TEXIAN NAVY NOTES 1841 25.00 Criswell AW3 Fine 17.75 Very Fine 22.50 50.00 Criswell AW4 Fine 18.00 Very Fine 23.50 Complete set of Navy Notes AW 3 & 4 Fine 32.50 Very Fine 41.50 REPUBLIC OF TEXAS BONDS $320.00 Texian Loan, Criswell 36A, First Texas Bond. Signed by Stephen F. Austin Ext. Rare, small triangle cut cancel missing. Nice appearing - $112.50 $100.00 Republic of Texas, old mill at center, Very Fine 17.50 500.00 Republic of Texas, Mercury & Sailor, Fine cut cancel 17.50 COUNTY NOTE - CIVIL WAR UNCUT SHEET Washington County, Texas, Uncut Sheet of Four Notes, $.50; 1.00; 2.00; 3.00; Unc. Unsigned 17.50 Other Texas Items For Sale; Texas Residents Add 2% Sales Tax John N. Rowe III, P. O. Box 2381, Dallas, Texas 75221 UNITED STATES CURRENCY LARGE, SMALL OR FRACTIONAL I SPECIALIZE IN THIS FASCINATING BRANCH OF NUMISMATICS WHEN BUYING OR SELLING DEAL WITH DONLON! FOR BETTER DEALS! WANT TO BUY IMPORTANT COLLECTION OF CHOICE UNITED STATES CURRENCY Also singles, duplicates, and bank packs, of U. S. Currency, large and small. Please quote prices with description and quantity. If a member of The Society of Paper Money Collectors, you may submit small lots for best possible offer. YOUR WANT LIST SOLICITED LEGAL TENDER NOTES — SILVER CERTIFICATES TREASURY NOTES, NATIONAL BANK NOTES FEDERAL RESERVE and FEDERAL RESERVE BANK NOTES William P. Donlon P. O. BOX 144 UTICA, NEW YORK. 13503 A. N. A. No. 4295 CHARTER MEMBER No. 74 LIFE MEMBER No. 101 PAPER MONEY COLLECTORS