Paper Money - Vol. LI, No. 5 - Whole No. 281 - September - October 2012

PAPER MONEY OFFICIAL JOURNAL OF THE SOCIETY OF PAPER MONEY COLLECTORS VOL. LI, NO. 5, WHOLE NO. 281 WWW.SPMC.ORG SEPTEMBER/OCTOBER 2012 Dr. Glenn Jackson Award Winner Joseph J. Gaines Jr. is at it again . . . this time showing antecedents to Southern Bank Note Company’s CSA Treasury Note vignettes Sept-Oct 2012 SPMC cover_Jan/Feb Cover 7/31/12 1:17 PM Page 1 Hey Abe . . . . . . thinking about a color ad in Paper Money? Go for it! © Howard Shoemaker 1987 Sept-Oct 2012 SPMC cover_Jan/Feb Cover 7/31/12 1:17 PM Page 2 Paper Money • September/October 2012 • Whole No. 281 321 TERMS AND CONDITIONS PAPER MONEY (USPS 00-3162) is published every other month beginning in January by the Society of Paper Money Collectors (SPMC), 101-C North Greenville Ave. #425, Allen, TX 75002. Periodical postage is paid at Hanover, PA. Post master send address changes to Secretary Benny Bolin, 101-C North Greenville Ave. #425, Allen, TX 75002. © Society of Paper Money Collectors, Inc., 2012. 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. ADvERTISINg • All advertising accepted on space available basis • Copy/cor re spond ence should be sent to Editor • All advertising is payable in advance • Ads are accepted on a “good Faith” basis • Terms are “Until Forbid” • Ads are Run of Press (ROP) unless accepted on premium contract basis • Limited premium space/rates available To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or additional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. SPMC does not endorse any company, dealer or auction house. Advertising Deadline: Subject to space availability copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example, Feb. 1 for the March/April issue). Camera-ready copy, or electronic ads in pdf format, or in Quark Express on a MAC CD with fonts supplied are acceptable. ADvERTISINg RATES Space 1 time 3 times 6 times Full Color covers $1500 $2600 $4900 B&W covers 500 1400 2500 Full page Color 500 1500 3000 Full page B&W 360 1000 1800 Half page B&W 180 500 900 Quarter page B&W 90 250 450 Eighth page B&W 45 125 225 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 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. LI, No. 5 Whole No. 281 September/October 2012 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 118162, Carrollton, TX 75011 Visit the SPMC web site: www.spmc.org FEATURES Civil War Era Tampa Ferry Scrip Discovered . . . . . . . . . . . . 323 By Ronald J. Benice The Paper Column: Initials in the Margins of Large Size Proofs . . . .333 By Peter Huntoon Sophronia Dean, National Bank President . . . . . . . . . . . . . . 343 By Karl Sanford Kabelac Origin of Vignettes on Southern Bank Note Co. CSA notes 345 By Joseph J. Gaines Jr. Nixon’s Frozen Dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 364 By Loren Gatch Frank Wilson, Eliot Ness & Al Capone . . . . . . . . . . . . . . . . . 368 By Paul N. Herbert Small Notes: Series of 1987 Microprinting . . . . . . . . . . . . . . . 373 By Jamie Yakes The Buck Starts Here: Miss America . . . . . . . . . . . . . . . . . . . 374 By Gene Hessler Identification of 1882 and 1902 National Bank Replacements . . 378 By R. Shawn Hewitt & Peter Huntoon Regular and Star Notes Printed on Same Sheets . . . . . . . . . 392 By Jamie Yakes SOCIETY & HOBBY NEWS Information and Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .322 Your Subscription to Paper Money Has Expired If . . . . . . . . . . . . . . . . . . . 326 New Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .353 President’s Column by Mark Anderson . . . . . . . . . . . . . . . . . . . . . . . . . . . . .372 Uncoupled: Paper Money’s Odd Couple by Fred Schwan & Joseph E. Boling . .376 SPMC Members Participate at 36th Memphis Paper Money Show . . . . . . .386 Back of the Back Page with Loren Gatch and Fred Reed . . . . . . . . . . . . . .397 The Back Page with Paul Herbert and John Davenport . . . . . . . . . . . . . . . .398 If your mailing label reads Nov or Dec 2012 RENEW NOW Paper Money • September/October 2012 • Whole No. 281322 Society of Paper Money Collectors OFFICERS ELECTED OFFICERS: PRESIDENT Mark Anderson, 115 Congress St., Brooklyn, NY 11201 vICE-PRESIDENT Pierre Fricke, Box 1094, Sudbury, MA 01776 SECRETARY Benny Bolin, 101-C North Greenville Ave. #425, Allen, TX 75002 TREASURER Bob Moon, 104 Chipping Court, Greenwood, SC 29649 BOARD OF gOvERNORS: Mark Anderson, 115 Congress St., Brooklyn, NY 11201 Pierre Fricke, Box 1094, Sudbury, MA 01776 Shawn Hewitt, P.O. Box 580731, Minneapolis, MN 55458-0731 Matt Janzen, 3601 Page Drive Apt. 1, Plover, WI 54467 Robert J. Kravitz, P.O. Box 6099, Chesterfield, MO 63006 Fred L. Reed III, P.O. Box 118162, Carrollton, TX 75011-8162 Michael B. Scacci, 216-10th Ave., Fort Dodge, IA 50501-2425 Lawrence Schuffman, P.O. Box 19, Mount Freedom, NJ 07970 VACANT Robert Vandevender, P.O. Box 1505, Jupiter, FL 33468-1505 Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 VACANT APPOINTEES: PUBLISHER-EDITOR Fred L. Reed III, P.O. Box 118162, Carrollton, TX 75011-8162 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 Benny Bolin, 5510 Bolin Rd., Allen, TX 75002 WISMER BOOK PROJECT COORDINATOR Pierre Fricke, Box 1094, Sudbury, MA 01776 REgIONAL MEETINg COORDINATOR Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 BUYING AND SELLING HUGH SHULL P.O. Box 2522, Lexington, SC 29071 PH: (803) 996-3660 FAX: (803) 996-4885 CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items Auction Representation 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The annual SPMC meeting is held in June at the Memphis International Paper Money Show. Up-to-date information about the SPMC, including its bylaws and activities can be found on its web site www.spmc.org. SPMC does not endorse any company, dealer, or auction house. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 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). Memberships for all members who joined the Society prior to January 2010 are on a calendar year basis. Dues renewals are due each December. 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SPMC LM 6 BRNA FUN Paper Money • September/October 2012 • Whole No. 281 323 An exAmple of floridA Civil WAr sCrip unlisted in All ofthe florida references has recently been discovered. it is an 1862-datednote issued for the tampa ferry signed by General Jesse Carter and goodfor 20¢ in ferriage. An investigation into the ferry’s history, the signer’s background and what 20¢ in ferriage bought in 1862 uncovered several interesting stories. The Tampa Ferry the first ferry across the Hillsborough river in tampa was established in 1846. According to the minutes of the may 23, 1846, meeting of the Board of (Hillsborough) County Commissioners at tampa: “thomas piper presented a petition praying for the priviledge (sic) of establishing a ferry across the Hillsborough river at tampa. ordered that the priviledge be granted to him for the term of four years and he is hereby required to give a bond payable to the Board of Commissioners for Hillsborough in the principal sum of five hundred dollars for the faithful performance of his duties as ferryman and be required to pay to the County treasurer five dollars per year for the last three years of his said time. “And that he be allowed to collect the fees for crossing as follows viz. for man or horse 5 cents, man and horse 10¢, Cart man & horse 20 cents, Cart man and two horses 25 cents, Cart or Waggon (sic) man and three horses 30¢, Waggon & four horses forty cents, Waggon or coach and five horses 60 cents, man horse and Buggy or other carriage 25 cents, loose cattle hogs and sheep 2 cents per head. “to be completed and date from the first of sept next.” thomas piper died before his four-year term expired and was replaced by Benjamin Hagler, the county sheriff. on november 19, 1849, the Board of County Commissioners (BoCC): “ordered by the Board that the charter be extended to Benjamin Hagler for a ferry across the Hillsborough river at tampa beginning at the expiration of thos piper deceased’ charter on the first day of Civil War Era Tampa Ferry Scrip Discovered By Ronald J. Benice Figure 1. The 1862 Tampa Ferry scrip signed by General Jesse Carter. (Author’s collection] Paper Money • September/October 2012 • Whole No. 281324 september 1850 and continue for four years on conditions that he give a Bond in the prinal (sic) sum of five hundred dollars with good and suffi- cient security to be approved by the Board conditioned for his faithful performance of the duties of ferryman and paying into the County treasury annually the sum of fifteen dollars the first payment to be made on the first day of september 1851. And shall be allowed the same tariff of fees as is now allowed to the same ferry by the charter granted to thos piper on the 23d day of may 1846.” then, on April 4, 1854, the BoCC: “ordered by the board that a charter for a ferry across the Hillsborough river at tampa be granted unto isaac stephens for the peri- od of four years from the first day of september next by paying annually into the County treasury the sum of ten dollars on the final day of september and giving Bond with approved security in the prinal (sic) sum of five Hundred dollars Conditioned for the faithful performance of his duties as ferryman during the aforesaid 4 years and shall be allowed to charge and collect the same fees for crossing as is allowed B. J. Hagler under the present charter.” General Jesse Carter became the ferryman on september 1, 1858, and con- tinued until october 1863. He was allowed to charge and collect the same fees for crossing as was allowed his predecessors. in 1862 he issued the small scrip note recently discovered. the scrip was produced by the same person who made 1862- dated scrip for other Civil War period tampa merchants – C.r. mobley, J.s. redbrook and Jose vigil – listed in my book on florida paper money, Florida Paper Money, an Illustrated History 1817-1934. on october 25, 1863, Abel marandes was granted a one-year charter to operate the ferry effective immediately with new tariffs: “foot passengers 10¢, man & horse 40¢, cart & four oxen 1.00, wagon & two horses 1.00, wagon & 4 horses 1.50, wagon & 8 horses 2.00, loose horses 50¢, bags of cotton 50¢, small bundles 5¢, large 10¢.” the rates were doubled after sunset. dominick Ghira received a one-year charter effective January 1, 1865, and in may 1866 James pennington received a two- year charter. Jesse J. Hayden (who had bought Jesse Carter’s land on the west bank) followed as the last ferryman. in a 1915 newspaper column, a woman who lived near the river, writing under the nom-de-plume Jessamine, recalled: “the ferry consisted of a rowboat for foot passengers and a big flat barge for the accommodation of teams, cattle and horses. it was operated by a heavy cable which lay on the bottom of the river when not in use. When a team was to cross, a hinged platform was let down so that the end rested in the mud, and the horses had to drag their load up the steep incline onto the barge, the cable was laboriously pulled up and hand- over-hand the hard-worked ferryman pulled at it, the barge sometimes swinging out into the stream in spite of the efforts of the ferryman. When the other shore was gained the hinged platform was let down on the other side and with much protest on the part of the horses and much urging from the driver the plunge would be made down the incline into the mud if the tide was low but onto hard sand if the tide was high.” “But it sometimes happened when in the deepest part of the river a horse would become panic stricken at the motion of the barge as it swung or at the sight of so much water and would start backing. occasionally the horse would back the wagon off into the river, and that would pull the horse over, too, and he would have to swim ashore.” Paper Money • September/October 2012 • Whole No. 281 325 Figure 2. The Tampa Ferry, c.1870s. (Robert N. Dennis Collection of Stereoscopic Views, The New York Public Library) Figure 3. The ferry landing, March 1889. (State Library and Archives of Florida) Paper Money • September/October 2012 • Whole No. 281326 if your label reads September or October 2012 this is your LAST ISSUE. You need to renew to Paper Money immediately, or you will be dropped from the society’s membership rolls.
Listen up, Your subscription expires if . . . Paper Money • September/October 2012 • Whole No. 281 327 the ferry continued operating until march 1889 when a bridge across the river at lafayette street [now Kennedy Boulevard] was completed. in the back- ground of the photograph of the bridge shown above is Henry plant’s tampa Bay Hotel which was built on land formerly owned by Jesse Carter. over a hundred years have passed, yet the site of the old ferry landing on the east bank is still used as a boat landing … for the tampa sheraton riverwalk Hotel. Figure 4. The first bridge across the Hillsborough River, c.1890. (State Library and Archives of Florida) Figure 5. Boat Dock at the Tampa Sheraton as seen from the east bank) Paper Money • September/October 2012 • Whole No. 281328 General Jesse Carter General Jesse Carter, the issuer of the tampa ferry scrip, was born in 1809 in Alachua County, east florida. He is best known as the leader of the florida mili- tia in the third seminole War. His title of General, however, comes from an elected political office. in 1840, Jesse Carter was elected to the House of representatives of the legislative Council of the territory of florida from Alachua County. on July 10, 1844, he purchased 240 acres of land in Alachua County from the General land office of the united states under an Act of Congress dated April 24, 1820, entitled “An Act making further provision for the sale of public lands,” and received grants signed by president John tyler. in 1845 he served in the senate of the territorial legislative Council. from 1845 to 1848 he served in the state senate. in 1846 he represented a group called “Citizens of Columbia County” in objecting to a new survey of lands based on long- vanished indian landmarks cited in spanish land grants. in 1854-1856 he represent- ed Hillsborough County in the House of representatives of the General Assembly. Jesse Carter had become a leading citizen of tampa and held the mail stage contract between tampa and Gainesville. He acquired his title of General through an election in 1849. in fact, on november 20, 1849 Governor thomas Brown proclaimed: “Whereas an election for the following field officers, to wit: one major General for 1st division, one major General for 2d division … for the florida militia was held on the 1st day of october, 1849 … John milton is duly elected major General of 1st division; Jesse Carter, major General 2d division … and when commissioned will be obeyed and respected accordingly.” Figure 6. Boat Dock at the Tampa Sheraton as seen from the west bank. Paper Money • September/October 2012 • Whole No. 281 329 N O B O D Y does paper money better than PAPER MONEY • best reproduction • best audience • best rates . . . IN FULL LIVING COLOR, too! If you REALLY want to sell your killer notes . . . not just admire them in your inventory, this is . . . THE PLACE Discover . . . YOUR pot of gold HERE! Advertise in PAPER MONEY it is interesting to note that the other elected general, John milton, served as florida’s Governor for most of the Civil War. Jesse Carter’s tenure as a General was brief. on february 1, 1850, Governor Brown announced “An election is hereby ordered to be held in the second division of the florida militia on the first monday in April next for the election of a major General to command said division to fill the vacancy occasioned by the resignation of General Jesse Carter.” in addition to his land holding in Alachua County, he owned a large plot of land on the undeveloped western side of the Hillsborough river. He built a school- house there for his daughter Josephine circa 1855. He hired mrs. louisa porter from Key West as the teacher and charged tuition and offered room and board in his family’s house. tuition ranged between seven and ten dollars per quarter; room and board for five days a week was $8 per month. unfortunately, indian uprisings, in response to provocations, under the lead- ership of Chief Billy Bowlegs led to the outbreak of the third seminole War in december 1885. on february 4, 1856, Governor James e. Broome issued the follow- ing order (bold emphasis added): GenerAl Jesse CArter, tampa florida sir – the recent hostile demonstration on the part of the indians remaining in the state renders it necessary that the executive department should have a confidential agent in the immediate vicinity of the frontier, and you are hereby appointed a special Agent of the State of Florida, with- out military rank, and charged with the performance of such duties as may from time to time be required of you by the executive authority. While actually engaged in the service of the state under this appointment, you will be allowed and paid the sum of three dollars per diem and all reasonable travelling and personal expenses, which may be necessarily incurred in the discharge of the duties assigned you. A subsequent series of orders called for him to inspect and muster florida’s troops, transfer some to service of the united states, discharge any who were insubordi- nate, inefficient or intemperate. on July 29, 1856, in order to give General Carter more authority he was given a commission as a Colonel in addition to his position as special Agent. this put him in charge of all of florida’s remaining troops in the third seminole War. interestingly, he was paid a major’s compen- sation. the third seminole War ended officially on may 8, 1858. General Jesse Carter returned to tampa and became the ferryman on september 1, 1858. Jesse Carter sold his tampa land to Jesse J. Hayden in 1865 and moved to his farm in Alachua County. in 1886 the tampa land was purchased by Henry plant for his tampa Bay Hotel. the hotel and Carter’s schoolhouse are now included within the university of tampa campus. the school building has been preserved by the daughters of the American revolution. Figure 7. Jesse Carter’s schoolhouse, 2011. Paper Money • September/October 2012 • Whole No. 281330 Paper Money • September/October 2012 • Whole No. 281 331 Jesse Carter died march 25, 1880, in Waldo, Alachua County, florida. on April 10, 1880, the Tampa Guardian reported “General Jesse Carter, an old and well known citizen of florida, died at Waldo on the 25th ult. after a few days’ ill- ness. General Carter was formerly a citizen of Columbia County, a member of the legislature for many years. He was very much respected and many old citizens of florida will hear of his demise with regret.” A similar notice in tampa’s Sunland Tribune on April 8, 1880, referred to him as “for many years a citizen of this place.” References Benice, ronald J. Flo rida Paper Money: An Illustrated Histo ry, 1817-1934. Jefferson, nC: mcfarland & Company, 2008. Bittle, George Cassel. In the Defense of Florida: The Organized Florida Militia from 1821 to 1920. tallahassee: florida state university doctoral thesis, 1965. Covington, James W. The Billy Bowlegs War: 1855-1858, The Final Stand of the Seminoles against the Whites. Chuluota, fl: mickler House, 1982. Covington, James W. The Seminoles o f Florida. Gainesville: university press of florida, 1993. Cretul, larry. The People of Lawmaking in Florida, 1822-2010. tallahassee: florida House of representatives, 2010. Jones, lucy d. Tampa’s Lafayette Street Bridge: Building a New South City. tampa: university of south florida master’s thesis, 2006. Journal of the Proceedings of the House of Representatives of the General Assembly of the State Of Florida. tallahassee: Floridian and Journal, 1856. Keuchel, edward f. and Joe Knetsch. “settlers, Bureaucrats and private land Claims: the little Arrendo Grant,” Florida Historical Quarterly, october 1989. minutes of the Board of County Commissioners, 1846 – 1893. olson, mrs. lester K. History of the DeSoto Chapter Daughters of the American Revolution and Old School House, Tampa Florida. tampa: no publisher named, 1996. seminole War muster rolls of florida militia, 1856-1858, state Archives of florida, series 1281. Sunland Tribune, April 8, 1880. Tallahassee Floridian and Journal,december 15, 1849 and march 2, 1850. Tampa Guardian, April 10, 1880 Tampa Tribune, september 14, 1949. Tampa Tribune, July 24, 1955, containing a reprint from an unnamed tampa news- paper dated december 15, 1915. united states Census, 1850.
Paper Money • September/October 2012 • Whole No. 281332 Sign up for special free features on the official SPMC website www.spmc.org/pin Your one-time exclusive PIN is on your mailing label 333Paper Money • September/October 2012 • Whole No. 281 tHis ArtiCle explAins tHe initiAlsfound in the margins of uncut sheets (and sometimesin selvage margins of notes) of united states currency. three different groups of tradesmen added their initials to Bep plates: (1) siderographers, (2) plate finishers and (3) plate printers. siderographers were the men who operated the transfer presses that were used to transfer images from dies to printing plates using the perkins steel roll trans- fer process. they also carried out alterations to the plates. plate finishers burnished out all defects such as burrs, scratches, nicks, etc., from the newly laid-in or altered plates, as well as other finishing tasks. plate printers obviously were the people who operated the presses used to print notes from the plates. the initials of the tradesmen were added to plates as a quality control mea- sure; specifically, to reveal exactly who worked on or with a plate in case some prob- lem arose. Printer Initials printers were the first tradesmen who were required to add their initials to currency plates. their initials appeared at least as early as 1878, and likely before. A plate with one of the earliest printer initials that either doug murray or i have observed is a fascinating $1000 series of 1880 silver Certificate bearing scofield-Gilfillan signatures. the proof was lifted to prove the plate after it had been altered from the 1878 design, and as shown on Figure 1, it already exhibited four sets of initials. they represent four printings made from the 1878 version of the plate, the earliest probably dating from 1878 when the plate was first used. The Paper Column By Peter Huntoon Initials in the Margins of Large Size Proofs and Sheets Figure 1. So far the earliest plate printer initials that we have found are those in the upper left margin of this proof from a $1000 Series of 1880 Silver Certificate plate bearing Scofield-Gilfillan signatures. The proof was lifted from the plate after it had been altered into this form from what originally was a Series of 1878 plate. The initials were applied dur- ing the course of four printings made from the Series of 1878 version of the plate. The earliest may date from 1878. Incidentally, no printings were made from the Series of 1880 Scofield-Gilfillan formulation that is illustrated here. Paper Money • September/October 2012 • Whole No. 281334 Figure 2. This proof drawn from this $5 Original/1875 series border plate for Vermont nationals exhibits a lengthy record of use in the form of dozens of printer initials across the top and right side. In fact, several of the printers used the plate more than once. 335Paper Money • September/October 2012 • Whole No. 281 each printer used a steel punch containing his initials to stamp them into the margin of a plate when he checked the plate out from the plate vault. the ini- tials were applied prior to using the plate on a press. the pressman would set the punch against the plate and with a sharp blow from a suitable hammer impress his initials from the punch into the plate. the first initials generally were placed to the left in the top margin, and from there walked across the top of the plate to the right. in the extreme, the initials kept right on walking down the right margin as shown on Figure 2. many proofs and sheets exhibit a pair of fine parallel lines across the top margin that served as guides for the placement of the initials. the latest initials - that is the right-most - revealed to inspectors who printed a given sheet. if you have notes or copies of proofs from the same plate, you often can determine how many press runs were made up through the time the notes or proofs were printed. two cautions are in order here. the first is that sometimes some of the initials may have been trimmed away. the second is that care must be exercised in interpreting the timing of the initials. the printer’s initials begin at the far left side of proofs and notes, so the ear- liest sometimes were trimmed away along with excess selvage. don’t always expect to see the initials of the fellow who printed your number 1 brown back or red seal national, even though it still has a top margin. there is a good chance that his ini- tials were trimmed away with along with the excess left selvage before the sheet was delivered to the bank. Figure 3. Sets of both green and black printer initials are superimposed across the top margin of this Series of 1875 back from a 10-10-10-20 sheet issued to The Fulton National Bank of Lancaster, PA, charter 2634. The dif- ferent colors come from the two plates required to print the backs. (Heritage Auction Archives photo) Figure 4. A serial number 2 red seal with partial printer initials SH that date from the first printing from the plate. SH stamped his initials on the plate before the print run. Often the first set or sets of initials are trimmed away along with the excess selvage on the left margin. (Heritage Auction Archives photo) Paper Money • September/October 2012 • Whole No. 281336 As for timing, consider a collector who owns a series of 1902 red seal national bank note with 3 pairs of printer initials across the top. let’s also assume that he has copies of the certified proofs from the red seal and date back versions of the same plate from the national numismatic Collection. He will notice there are no printer initials on the 1902 red seal proof, whereas there may be 8 on the 1902 date back proof. this variability is easily explained. the plate had never seen service at the time the red seal proof was lifted from it, so, of course, that proof has no printer ini- tials. later, after the plate was altered into a date back face, it already contained all the initials of the printers who had used it to print red seals. in this case, the number of red seal printings was 8, so there were 8 sets of initials when the date back proof was drawn. the collector’s red seal has three sets of initials, so obviously his note was printed during the 3rd press run if it is assumed that none of the initials were trimmed away. more initials were added when the blue seal date and plain back printings were made in the future. no list of plate printers has been compiled. there were far too many of them. After all, there were a couple of hundred plate printers manning spider presses every day for decades before power presses began to cut a swath through their ranks. Siderographer and Plate Finisher Initials siderographer initials began to appear on currency plates in mid-may 1906. plate finisher initials began to be used slightly later, first appearing in April 1909. Figure 5. The earliest siderographer initials that I have found on a curren- cy plate are those of Alven D. Whittington on the lower left corner of this Series of 1902 red seal 10-10- 10-20 face plate proof from Hartford, Kansas, certified May 12, 1906. Below: Figure 6. The earliest siderog- rapher initials that I have found on a type note plate are those of William E. Franke on the lower left corner of this Series of 1899 $1 silver certificate from plate number 22068 bearing plate serial number 3363, which was certified May 16, 1906. 337Paper Money • September/October 2012 • Whole No. 281 the siderographer initials on national Bank notes usually are found to the right of the center marker along the bottom margin of the sheet. they generally lie to the far left in the bottom margins on type note sheets. the plate finisher initials usually were placed to the right of the siderographer’s. However, the proofs are rife with exceptions to these placements. Generally both siderographer and finisher initials are very neat and well formed in appearance. they were not applied using punches. instead, they were rolled in from transfer rolls on transfer presses, identically to the laying-in of design elements. philatelists long ago compiled lists of the siderographers and plate finishers from Bep employment rolls. they identified just about all of them, and their very useful lists are included here as Table 1. the same men worked on both stamp and currency plates so the philatelic lists work for us as well. only occasionally do i find a set of initials that isn’t on their lists. they did a thorough job, but the very nature of their quest defied completion. sometimes, as you analyze a particular note or proof, you will be confused as to whether a set of initials belongs to a siderographer or plate finisher based on its placement. However you can sort out which is which once you find the initials on Table 1. You can find more than one set of siderographer or finisher initials on sheets or proofs from the same plate. in some instances more than one siderograph- er worked on a given plate such as occurred with the dunbar $5 proof shown on Figure 8. in this case Clinton m Hisle laid in everything except the bank signatures Figure 7. The earliest plate finisher initials that I have found are those of Charles H. Roll above the plate num- ber 29481 on this Series of 1899 $1 Silver Certificate proof bearing plate serial number 5201 certified April 5, 1909. We don’t know the name of siderographer ECK. Figure 8. This proof from an altered $5 Series of 1902 plate for The Dunbar National Bank sports two sets of siderographer initials. All the crafts- men put their initials across the top on this one. Clinton M. Hisle laid in the face and Samuel S. Ludlum did the fin- ishing work when the plate was made in October 1928. The bank signatures were added by siderographer John A. Mooney in November. Paper Money • September/October 2012 • Whole No. 281338 Siderographers AB Andrew Black ADH Andrew D Headley ADW Alven D Whittington AEF Albert E Fischer AOD Allen O Dickey ARG Alfred R Gould BG Benjamin Goldsworthy BMC Bernard Michael Connelly CAH Charles A Hall CIR Clarence I Ronsaville CMH Clinton M Hisle CV Charles Vermeule CVDeB Clyde Volchester DeBinder DF David Finkelstein DHS Dennis H Sherman DL David Lorenz DMC Daniel M Clancy DWMcC Daniel W McCallum ECS Edward C Smith EH Edward Hein EHH Edward H Holmes EPM Edgar P Marshall ESS Evan S Stokes FAMcG Felix A McGuire FLA Frank L Adrian FPL Frank P Lauderback FWMcN Frank W McNally GFH George F Henlock GLD George L Dant GLH George L Huber GRM George R Mason GWB George Washington Barber GWR George W Reid HCL Herbert C. Leach HLC Harvey L Cote HMC Harold M Clarvoe HMW Herbert M Williams HWW Harry W Wolstenholme JAM John A Mooney JAMcC J A McCaskie JCF James C Filgate JCN John C Newman JCR John C Rout JF John B Fischer JF Joseph F Fitzgerald, Jr. different men working different periods JHS John H Silbert, Jr. JIG Joseph I Griffith JLH Joseph L Heffern JP John Prender JPP John P Perry JTF John T Ford JTWM James T W Miller LBB Lloyd B Brooke LSG Leroy S Goldsworthy MAD Marcus A Davis MRG Morris R George OHH Orville H Herlocker PEH Phillip E Hardie PW Paul Worksman RB Rudolph Bender S DeB Samuel DeBinder SSL Samuel S Ludlum SWL Sidney W Lawrence WBM Wilson B Miller WD Walter H Doxen WEF William E Franke WHMS William H M Snyder WMcA William A McAleer WMcM William McManus Plate Finishers AAB Aloysius A Baldus ABK Andrew B Kennedy ACN Arthur C Noble AEF Albert E Fischer ALC Adam L Chapman AWL Albert W Leger CCB Charles C Brumm CDeB Clyde V DeBinder CFM Charles F Malloy CHR Charles H Roll CIR Clarence I Ronsaville CMH Clinton M Hisle CSG Charles S Gay DRMcL Donald R McLeod EAS Eugene A Smith ECW Edward C Wildt ED Edward Doe EDG Everett D Green EH Edward Hein EHH Edward H Helmuth ELS Edwin L Shankle ELT Edward L Tucker EME Edwin M Earle FAG Frank A Green FAM Frank Alexander Martie FAMcG Felix A McGuire FB Franklin Butler FBB Frank Brahler FJV Ferdinand J Voight FNC Fairfax N Coakley GEJ George E Jacobs GHD George H Davis GLH George L Huber GS Gabriel Swart GTT George T Tyser GW Gus. Willie HCL Herbert C Leach HK unknown HMC Harold M Clarvoe HMW Herbert M Williams HSB Herman S Batch HWW Harry W Wolstenholme IBC Irving B Cohen JAC Joseph A Clark JCR John C Rout JEP John E Posey JES John E Schaeffer JF John B Fischer JF Joseph Forrester different men working different periods JFH John F Hardy JHK James H Kates JJM James J Murray JJMacD John J McDonald JJMcD John J McDonald McDonald used both sets of initials JMB James Mark Butler JMcF Joseph McFate JMH John M Hackley JMW James M Walsh JPL Joseph P Lennon JR John Reding JSS Jake S Seitz JWB Joseph W Butler JWG James W Gessford JWK unknown LBS Leo B Schuyler LM Luck Marks LRM Lawrence R. Murray LSG Leroy S Goldsworthy MJK Michael J Kennedy MM Michael Morgan OB Orville J Butler PEH Phillip E Hardie RD Robert Dailey RFW Ralph F Wurtz RJL Robert J Little SPA Samuel P Abbott SWL Sidney W Lawrence TAMcG Thomas A McGaffin TBJ Thomas B Jones, Sr. WEF William E Franke WES Walter E Spring WFB William F Blue WJ Walter Jahnke WK William R Kern WMD Walter M. Doxon WP unknown WRB William R Brown used through 1911 WRB unknown used in 1923 and later WRK unknown WTB unknown WTP William T Powers WW William Wapple WWM William W Malone Table 1. List of siderographers and plate finishers whose initials are found on Bureau of Engraving and Printing plates (D’Avino, initials). Paper Money • September/October 2012 • Whole No. 281 339 and samuel s. ludlum did the finishing work. the plate was certified october 15, 1928. However, the bankers ordered bank signatures so those were laid in by John A. mooney, so the plate was recertified november 6th after his work was completed. each time a plate was altered, the people involved in the alteration added their initials to those already on the plate. Consequently, the addition of initials to existing plates was especially common on national Bank note face plates where alterations were routine. for example, a common alteration involved changing the security clause when red seal face plates were altered into date back faces following passage of the Aldrich-vreeland Act in 1908. the last use of siderographer and plate finisher initials date from november 1928. the last examples i found were those of siderographers Clinton m. Hisle and Charles vermeule who left their initials on the top of the pacific national proof cer- tified november 27th shown on Figure 9. Hisle laid in the face and vermeule added the bank signatures. James mark Bulter, who put his initials on the bottom, was the plate finisher. the era of siderographer and plate finisher initials on plates drew to a close just as small size plates began to be made. i have found them only on one group of small note proofs, the $1 series of 1928 silver Certificates face and back plates made in 1927-8 that were produced using roll transfer technology. see Figures 10 and 11 on page 340. ironically the face plates in this group were of a design that was not adopted (Huntoon, 2007). they had a large one engraved to the right of the portrait. the problem with them was that the design was considered imperfect owing to the fact that the treasury seal stood alone in the open field to the left of the portrait, making it easy for counterfeiters to photographically isolate the seal. Figure 9. The last proof that I could find with siderographer and plate fin- ishers initials was this 10-10-10-20 Series of 1902 national from The Pacific National Bank of Seattle, charter 13230. Two siderographers put their initials on the top of this one, and the plate finisher added his to the bottom. Clinton M. Hisle laid in the face, Charles Vermeule laid in the bank signatures and James Mark Butler did the finishing work. All the work was completed before the plate was certified on November 27, 1928. Paper Money • September/October 2012 • Whole No. 281340 Plate Histories You can deduce a great deal about the history of a plate and the men who worked with it if you have a series of sheets or scans of certified proofs from it. this type of analysis is especially applicable to large size national Bank note plates because the plates often were altered over the course of the life of the plate. Consequently, proofs exist at the beginning of each new stage in its life that contain a record of everything that went before. Figures 12 and 13 show how this record can be unraveled from the margins of a series of proofs from a national Bank note plate that had undergone two alter- ations. Figure 10. The last use of both siderographer and plate finisher initials that I have seen on a proof from a small size note plate is from face plate 114873, plate serial number 33, for the unadopted $1 Series of 1928 silver certificates. Siderographer Samuel S. Ludlum’s initials are in the top margin whereas those of plate finisher Ralph F. Wurtz are in the lower margin on this proof. This plate was certified August 16, 1928, before production of the last of the large note plates ceased Figure 11. This proof is from one of the very last, if not the last, small note plates with initials. It is from plate 114974, plate serial number 111, another plate certified on August 16, 1928. It carries Samuel DeBinder’s initials, a siderographer who had the distinction of being the fellow who laid in the red frame plate used to print the 24-cent inverted Jenny airmail stamps. The plate finisher didn’t bother to add his ini- tials to this monopoly back plate. Paper Money • September/October 2012 • Whole No. 281 341 Electrolytic Plates plates made using electrolytic deposition of metal on altos did not require the services of siderographers or plate finishers, so those plates don’t carry initials from these tradesmen. electrolytic currency plates came into use starting with pro- duction of $1 series of 1923 backs during november 1924. electroforming gradually supplanted the roll transfer process as the technology was perfected. thereafter the high-use plates made to print large size type notes and backs for series of 1902 national bank notes were electroformed. the use of siderographer and finisher initials ceased near the end of 1928, coinciding with the plummeting need for their services. As a result, they did not appear on the last of the series of 1902 national Bank note face plates, which contin- ued to be made using roll transfer technology well into 1929. Pioneering Philatelic Research We owe a debt of gratitude to the serious group of philatelic researchers, especially John meek, who early on pursued the significance of plate margin initials, and who compiled the names of siderographers and plate finishers. meek authored a long series of articles on the topic in The U. S. Specialist. philatelist doug d’Avino maintains a valuable website that deals with print- er initials on u. s. stamp plates, which is cited below. A comparison of the periods during which various types of initials appear on currency plates presented here and similar data for stamp plates on d’Avino’s web sites reveals that usage of all types of initials on currency plates predates usage on stamp plates. in the extreme, plate Figure 12. Printing history for the Series of 1882 10-10-10-20 plate for The Tempe National Bank, Arizona. (1) Top: Territorial brown back with no printer initials yet because the plate was brand new. (2) Middle: Territorial date back where all of the initial are the printers who printed the brown backs prior to the plate being altered into a date back face. (3) Bottom: State date back where all the initials starting with JAG were printers who printed the territorial date backs before the plate was altered into a state plate. The plate will go on to print state notes, and new printer initials will be added. Paper Money • September/October 2012 • Whole No. 281342 printers were putting their initials on currency plates more than 20 years before phi- latelists find them on stamp plates. Acknowledgment doug murray was particularly helpful in providing information and review- ing this manuscript. philatelist doug d’Avino provided Table 1. James o’donnell, curator, national postal museum, provided scans for the Jenny invert on Figure 11. References Cited and Sources of Data Bureau of engraving and printing. 1863-1928, Certified proofs lifted from u. s. cur- rency plates. Washington, dC: national numismatic Collection, museum of American History, smithsonian institution. d’Avino, doug, http://home.earthlink.net/~davinod/initials.htm d’Avino, doug, http://marginal markings.usstamps.org/ Huntoon, peter. “the series of 1928 design that failed,” Paper Money, vo. 46 (may- June 2007), p. 323-328.
Figure 13. History of the making and alteration of the Series of 1882 10-10-10-20 plate for The Tempe National Bank, Arizona. (1) Top: territorial brown back without siderographer or plate finisher initials because the requirement to add initials had not gone into effect at the time this plate was made in February 1901. (2) Middle: territorial date back with only siderographer John P. Perry’s initials because plate finisher initials were not required on plates when Perry altered it into a date back face in March 1909. (3) Bottom: state date back with newly added initials for sideographers Alven D. Whittington and Walter H. Doxen, each of whom did different work on the plate during the alteration. Although finisher initials are expected, none appear probably because additional finishing was not required with this alteration. Paper Money • September/October 2012 • Whole No. 281 343 sopHroniA HuBBArd WAs Born in pennsYlvAniA on AuGust2, 1840. in 1869 she married Warren H. dean, a widower, in toledo, ohio.the next year they moved to st. paul, minnesota, where he was involved inreal estate. they then moved to a farm in mower County, which is in south- eastern minnesota on the iowa border He died quite suddenly in 1880, leaving her with four young children. When her two sons, William and Warren, were grown, she and they found- ed a bank in Adams and a few years later purchased the state Bank of rose Creek. Both communities are in mower County. the bank in Adams, founded in 1898, because a national Bank (charter #8059) in 1906. initially she was the vice president, and her son, William, the cashier. But in 1907 she became the president. she was also the president of the state Bank of rose Creek where her son Warren was the cashier. After living in mower County, she then lived in northfield and minneapolis. she returned to mower County in 1918 and made her home with her son Warren near rose Creek. it was there that she died on January 2, 1928. Her son William, the cashier of the first national Bank of Adams, assumed the presi- dency of that bank at her death. in the late 1910s, the bank had begun plans for a new building and employed George Grant elmslie, a noted midwestern architect, to design it. the first World War and then financial concerns at the bank delayed the building, which was completed in 1924. Built in what is termed the “prairie school” design, it was a one story rectangular brick building, with an inviting fireplace in the public space, and a community meeting room in the base- ment. several thousand visitors toured it when it opened on november 11, 1924. William dean wrote to the architect’s assistant the next year, “i think we have one of the most distinctive little bank buildings in the land …”. the bank was able to enjoy its unique building for almost eight years, until it closed in August 1932, a victim of the depression. today the building is occupied by a gift shop and an insurance agency. it was placed on the national register of Historic places in 1986. sophronia dean, national Bank president By Karl sanford Kabelac Letterhead from 1914 of The First National Bank of Adams, Minnesota with Mrs. S. Dean as president. Notice of the death of Mrs. Sophronia Dean, bank president. Paper Money • September/October 2012 • Whole No. 281344 Sources and acknowledgements An obituary for mrs. sophronia dean appeared in the Mower County News for January 5, 1928. letters from the late 1920s to the late 1940s by her son, William W. dean, the cashier and then president of the bank, are compiled in the book, From the Corner Window, published in Adams in 1991. Written to his children, they give us a glimpse into the bank and its history. especially helpful is his discussion on pages 81 through 84 of the building of the new bank building in the 1920s and then its closing during the depression. the architectural history of the bank building is dis- cussed in the 1984 university of illinois dissertation by Craig robert Zabel, The Prairie School Banks of Frank Lloyd Wright, Louis H. Sullivan and Purcell and Elmslie, chapter 10, “the last Banks of George Grant elmslie,” especially pages 465 through 472. the website of the northwest Architectural Archives at the university of minnesota libraries in minneapolis contains color preliminary sketches, blueprints, floor plans, and both interior and exterior photographs of the bank. twenty-seven images can be viewed online by searching for “northwest Architectural Archives,” then, in the relevant search boxes, bank Adams, and select the collection “Williams Gray purcell papers.” the assistance of the mower County Historical society is gratefully acknowledged.
since 1999, Karl s. Kabelac has been writing a series of arti- cles in Paper Money on women national Bank presidents during the national Bank note issuing period (1863-1935). As the bank’s president, such a woman would have signed (or later had her facsimile signature on) the national Bank notes issued by her bank. A short article on Karl and how he became interested in this topic appeared in Paper Money, march/April 2009, p. 124. there were literally tens of thousands of male national Bank presidents during this period and the following 59 women presidents. As Karl wraps up the series, he hopes to provide some concluding observations on these women as a group. But he is also wondering if there are any more. thus, if any Paper Money reader knows of one not on the following list, he would be grateful to learn of her. He can be reached at karl@rochester.rr.com, or 105 raleigh street, rochester nY 14620. List of Known Female National Bank Presidents AZ tombstone. mary m. Costello. (Article by peter Huntoon) pm, July/August 1989 CA marysville. phebe m. rideout. not yet published. CA modesto. myrtie mcHenry (later langdon). pm, July/Aug 2009 CA oroville. phebe m. rideout. pm, may/June 2006 CA san pedro. Katharine r. mahar. pm, Jan/feb 2010 Co Canon City. magdalene s. raynolds. pm, march/April 2011 iA Albia. Caroline B. drake. pm, may/June 2009 iA Albia. nannie m. mabry. pm may/June 2009 iA marion. louisa B. stephens. pm, may/June 2008 (Addendum, pm, sept/oct 2011) iA pomeroy. mary r. moody. not yet published iA sanborn. elizabeth Harker. pm, Jan/feb 2011 il Greenville. myrtle t. Bradford. pm, may/June 2003 il Greenville. nancy r. Bradford. pm, may/June 2003 il streator. levancia H. plumb. pm, Jan/feb 2012 il sullivan. mary r. shuman. not yet published in Columbus. elizabeth lucas. pm, July/Aug 2004 in laGrange. Katherine r. Williams. pm, march/April 2008 Ks moline. mrs. H. r. ellsworth. pm, sept/oct 2009 Ks ness City. mary C. Bennett. pm, may/June 2008 md elkton. e. s. tome (later france). pm, nov/dec 2010 md port deposit. e. s. tome (later france). pm, nov/dec 2010 me limerick. frances e. mason (later moulton). pm, may/June 2007 me York village. elizabeth B. davidson. pm, sept/oct 2012 mn Adams. mrs. s. dean. not yet published mn fairfax. mrs. e. f. sell. not yet published mn mabel. Betsey tollefson. pm, July/Aug. 2000 mo Albany. mrs. r. l. Whaley. pm, march/April 2010 mo edina. laura Biggerstaff. pm, July/Aug 2009 ms vicksburg. mrs. B. B. Willis. not yet published nC raleigh. mrs. m. C. Williams. pm, march/April 2011 nd fingal. laura A. Batcheller. march/April 2010 nd lidgerwood. mary o. movius. sept/oct 2011 ne elgin. Carrie mcBride. pm, march/April 2004 ne lexington. Henrietta r. temple. pm, march/April 2009 ne lexington. Jennie m. temple. pm, march/April 2009 ne mcCook. mrs. v. franklin. pm, march/April 2008 nm farmington. Harriet B. sammons. pm, sept/oct 2010 nm portales. mary C. Williamson. pm, July/Aug 2008 nY east rochester. Kate Gleason. pm, may/June 1999 nY Groton. Welthea m. marsh. pm, may/June 2005 nY mexico. nellie t. peck. pm, nov/dec 2006 nY perry. eliza d. page. pm, march/April 2002 nY pulaski. ella m. Clark. pm, march/April 2010 nY pulaski. Helen A. Clark. pm, march/April 2010 nY silver springs. Addie duncan (later monroe). not yet pub- lished oH middletown. s. Jennie sorg. pm, may/June 2012 oH monroeville. Anna m. stentz. pm, march/April 2009 (Addendum, pm, march/April 2010) oH utica. Cora B. Clark. pm, march/April 2009 oK Altus. mrs. J. A. Henry. pm, march/April 2009 oK Anadarko. mrs. G. m. Cox. not yet published tx Bartlett. mary A. Bartlett. not yet published tx Brownwood. mrs. s. r. Coggin. pm, July/Aug 2012 tx daingerfield. mrs. lou Bradfield. not yet published tx deport. mrs. J. H. moore. pm, July/Aug 2007 tx Galveston. mrs. r. Waverly smith. pm. march/April 2012 tx Gregory. may m. Green (later Watson). pm, Jan/feb 2012 tx Haskell. mrs. m. s. pierson. pm, march/April 2012 tx marlin. mrs. emma reed. pm, July/Aug. 2012 tx mt. pleasant. Annie m. moores (later towler). not yet pub- lished WA Kent. Annie f. morrill. pm, Jan/feb 2010 Wi Columbus. Catharine e. Chadbourn. pm, nov/dec 2008
Are There More Women National Bank Presidents? Paper Money • September/October 2012 • Whole No. 281 345 tHe pinnACle of quAlitY of ConfederAtestates of America currency was reached early on when thesouthern states still had close contacts with the large banknote producing companies headquartered in the north. one series of notes that epitomises this quality is the CsA notes produced by the so-called southern Bank note Company. these notes were authorized by an act of the Confederate Congress dated August 18, 1861. they comprise part of the third series of notes. the subject of this article is the origins of the vignettes used on these notes. the southern Bank note Company was a branch of the American Bank note Company headquartered in new orleans in 1861. this company was nothing more than a front for the largest northern bank note printer, the American Bank note Company. the series includes the Criswell types 15, 19, 22, and 31 notes produced in denominations of $50, $20, $10, and $5 respectively. these colorful notes were all produced to the highest level of bank note engraving and design of the time. in 1861 the Confederate states of America was in need of bank notes as fast as they could be produced. Custom design of high quality notes was out of the question due to the time and expense required. for this reason the southern Bank note Company turned to the vast archive of stock vignettes and other design elements already in possession of the American Bank note Company. All of the vignettes chosen to be used on these notes had previously been used on obsolete bank notes produced in the north and south over the previous 20 to 30 years. A listing and illus- tration of the previous use of these vignettes is the primary purpose of this article. many consider the Criswell type 15 $50 one of the most beautiful of all Confederate currency notes. the central vignette is that of an 1850s era train in the foreground with a Greek revival dock building and ships in the background. the left side vignette is Hope with Anchor. A bare-breasted Justice vignette adorns the right side of the note. these vignettes are superbly engraved down to the most minute detail. the other details of the note include superb counters and colorful overprint to complete the design. the notes were produced on high quality bank note paper embedded with red fibre. the train vignette is a common vignette used on more Origin of Vignettes used on Southern Bank Note Company-produced Confederate States of America Currency By Joseph J. Gaines Jr. Paper Money • September/October 2012 • Whole No. 281346 than 30 obsolete notes before the Civil War and many others during and after the war. the Hope with Anchor vignette is an uncommon one on obsolete notes with fewer than ten known to the author. the Justice vignette in fairly common with at least twenty obsolete notes known with this vignette. the Criswell type 19 $20 CsA note features a central vignette of Navigation sur- rounded by navigational tools with ships in the background. she hold a caduceus in her right hand. the detail is superb. the left side vignette is Minerva, the Greek goddess of war. minerva holds both a spear and an olive branch symbolizing war and peace. to her right is a shield adorned with Medusa. on the right side is a blacksmith next to an anvil holding tools of the trade. multiple 20 geometric coun- ters and red overprint complete the design. the notes were printed on high quality bank note paper with embedded red fibre. the Navigation and Minerva vignettes are uncommon on obsolete notes and appear on fewer than ten obsolete notes. the blacksmith vignette is fairly common on obsolete notes and approximately twenty obsolete notes exist with this vignette. the Criswell type 22 $10 CsA note has a beautiful and detailed vignette of an indian family perched on a cliff overlooking a town. the left vignette is Thetis, a goddess of the sea and mother of Achilles. she rests on a stand of coral with a conch shell near by. neptune’s spear is behind her. to the right of the Indian Family is an Indian Maiden vignette holding an ear of corn in her right hand and an x counter for the note denomination in her left hand. Geometric counters and a red overprint finish the design. the notes were produced on high quality paper with embedded red fibre. the Indian Family vignette is a rare one on obsolete currency with only Figure 1. $50 Confederate States of America Criswell Type 15 note. Figure 2. $20 Confederate States of America Criswell Type 19 note. Paper Money • September/October 2012 • Whole No. 281 347 approximately four notes known and several of these are very difficult to locate in any condition. the Thetis vignette is seen on approximately twenty obsolete notes and the Indian Maiden on approximately sixteen notes. the Indian Maiden vignette is altered on some obsolete notes with other denomination counters or a blank space. the Criswell type 31 $5 CsA note has a highly detailed central vignette of Five Ladies – Commerce, Agriculture, Justice, Liberty and Industry. the engraving is superb. on the left side of the note is Navigation next to a capstan. on the right side is a depiction of George Washington taken from a statue executed by sir frances Chantrey in 1826, currently residing in doric Hall at the massachusetts state House in Boston. Washington wears a toga and holds a scroll in his right hand. detailed counters and a red overprint complete the design. the Five Ladies vignette is fairly uncommon and appears on fewer than ten obsolete bank notes. As one would expect, this vignette is only observed on five dollar denomination notes. the Navigation vignette is seen on fewer than ten obsolete bank notes. the George Washington statue vignette is common and appears on approximately thirty-five obsolete bank notes. the southern Bank note Company series was produced quickly because of access to stock vignettes and design elements from the parent American Bank note Company. these vignettes and design elements could be quickly combined in various combinations to produce the printing plates. these vignettes were previously used on numerous obsolete bank notes from the north and south in the years leading up to the Civil War. this series of notes represents some of the most beautiful and desirable Confederate states of America notes produced. Figure 3. $10 Confederate States of America Criswell Type 22 note. Figure 4. $5 Confederate States of America Criswell Type 31 note. Paper Money • September/October 2012 • Whole No. 281348 Collecting obsolete currency with vignettes like those on Confederate currency notes is an interesting companion collection to a collection of CsA currency and serves to illustrate the origins of the design elements of Confederate currency. An abbreviated listing of obsolete notes known to the author with these vignettes fol- lows. if readers are aware of additional obsolete notes with these vignettes they may contact the author by email at joegaines58@aol.com.
Figure 5. $5 The Housatonic Bank, Stockbridge Massachusetts Haxby MA1200-G48a, C-Train. Figure 6. $20 Bank of the Old Dominion, Alexandria Virginia, Haxby VA15-G16a, C-Train. Figure 7. $1 Morris County Bank, Morristown New Jersey Haxby NJ315-G8, R-Hope with Anchor. Paper Money • September/October 2012 • Whole No. 281 349 Figure 8. $20 City Bank of Columbus, Columbus Ohio, Haxby OH170-G10, R-Hope with Anchor. Figure 9. $50 West River Bank, Jamaica Vermont, Haxby VT115-G14, L-Justice. Figure 10. $10 Morris County Bank, Morristown New Jersey, Haxby NJ315-G46a, L-Justice. Write the Editor and speak your mind Paper Money • September/October 2012 • Whole No. 281350 Type Vignette Value Reference Bank T15 Train 1 Haxby MA10-G2 Abington Bank, Abington 1850's T15 Train 5 Haxby NY265-G8 Bank of Binghamton, Binghamton 1850's T15 Train 2 Haxby MA305-A5 Bank of Mutual Redemption, Boston 1850's T15 Train 10 Haxby MA325-G18 Bank of North America Boston 1850's T15 Train 50c Haxby TN195-G62,G62a Bank of Tennessee, Nashville Dec 1 1861 T15 Train 20 Haxby VA15-G8a,G16a,b Bank of the Old Dominion, Alexandria 1850's T15 Train 3 Haxby IL640-G4,G4a Central Bank, Peoria 1850-60's T15 Train 1 Haxby NY820-G24,G24c Chemung Canal Bank, Elmira 1850's T15 Train 2 Rosene-UNL City of Mobile, Mobile Nov 1873 T15 Train 3 Rosene 187D-6 City of Mobile, Mobile Nov 1873 T15 Train 6 Haxby DC-UNL Corporation of Georgetown, Georgetown 1850's T15 Train 5 Vlack-1935 E. Murphy & Brother Binghamton 1850's T15 Train 2 Haxby TN100-G46a-e Farmers and Merchants Bank, Memphis 1854 T15 Train 3 IL120-G6,G6a,b Farmers and Traders Bank, Charleston 1850's T15 Train 5c Haxby NJ-UNL Hightstown NJ July 4, 1862 T15 Train 1 Schingoethe NY1020-1 International College Bank, New York 1860's T15 Train 5 Haxby WI820-G6 Jefferson County Bank, Watertown July 1, 1853 T15 Train 1 Schingoethe NY300-1 Lowell's College Bank Binghamton 1860's T15 Train 1 Haxby IL165-G4,G4a,b Marine Bank of Chicage, Chicago 1850's T15 Train 5 Wolka 482-1 Marion & Mississinewa Valley RR Co, Marion 1850's T15 Train 3 Haxby WI505-G6 Milwaukee Bank, Milwaukee 1855 T15 Train 1 Leggett p59 #21 Mississippi Central RR Co, Holly Springs 1862 T15 Train 2 Leggett p58 #22 Mississippi Central RR Co, Holly Springs 1862 T15 Train 3 Leggett p59 #23 Mississippi Central RR Co, Holly Springs 1862 T15 Train 20 Haxby NY1816-G12,G12c New York Exchange Bank, New York 1850's T15 Train 1 Leggett p19 #13 NO, Jackson & Great Northern RR Co., Canton 1862 T15 Train 1.5 Leggett p19 #14 NO, Jackson & Great Northern RR Co., Canton 1862 T15 Train 3 Leggett p19 #15 NO, Jackson & Great Northern RR Co., Canton 1862 T15 Train 5 Leggett p19 #16 NO, Jackson & Great Northern RR Co., Canton 1862 T15 Train 1 NAC LA N-550,554 NO, Jackson & Great Northern RR Co., New Orleans Nov 1861 T15 Train 1.5 NAC LA N-559 NO, Jackson & Great Northern RR Co., New Orleans Nov 1861 T15 Train 2 NAC LA N-565 NO, Jackson & Great Northern RR Co., New Orleans Nov 1861 T15 Train 3 NAC LA N-572 NO, Jackson & Great Northern RR Co., New Orleans Nov 1861 T15 Train 1 Wolka 483-1,2 Ohio, Indiana, and Illinois RR, Marion 1850's T15 Train 2 Wolka 483-3,4 Ohio, Indiana, and Illinois RR, Marion 1850's T15 Train 5 Wolka UNL Ohio, Indiana, and Illinois RR, Marion 1850's T15 Train 1 Haxby IL-UNL Oswego & Indiana Plank Road Co., Joliet 1850's T15 Train 1 Haxby NH305-G4a Rochester Bank, Rochester 1850's T15 Train 10 Haxby NH200-G10a,b Souhegan Bank, Milford 1850's T15 Train 2 Haxby IN-UNL State of Indiana, New Albany 1850's T15 Train 10 NC Criswell-81,82,83,84 State of North Carolina, Raleigh 1862 T15 Train 50c Haxby LA-UNL Stuart and James, New Orleans 1861 T15 Train 2 Haxby ME80-G4,G4a Grocers Bank, Bangor 1850's T15 Train 5 Haxby MA1200-G48a Housatonic Bank, Stockbridge 1850's T15 Train 2 Haxby ME231-G4 Union Bank, Brunswick 1850's T15 Train 20 Haxby GA70-G10 Union Bank, Augusta 1850-60's T15 Train 20 Haxby LA100-G6a,b, G24b Bank of New Orleans, New Orleans 1850's T15 Train 5 Haxby GA10-G44 Georgia RR and Banking Company, Augusta 1840-50's T15 Train 5 WI820-G6,G6a,b,d Jefferson County Bank, Watertown 1853 T15 Train 1 Oakes 12-1 City of Burlington, Burlington 1850's T15 Train 20 Lee Det 17-12 Mehew Business College, Detroit 1860's T15 Train 1 Lee Sau 3-1 Barker and Williams, Sault de Ste. Marie 1870's Paper Money • September/October 2012 • Whole No. 281 351 Type Vignette Value Reference Bank T15 Train 3 Schingoethe OH450-03 Columbus Business College/First National Bank, Columbus 1870's T15 Train 50 Schingoethe OH450-50 Columbus Business College/First National Bank, Columbus 1870's T15 Train 1 Schingoethe NB375-1 Eatons Actual Business Commercial College Bank, St. Johns & Halifax 1870's T15 Train 5 Schingoethe NB375-5 Eatons Actual Business Commercial College Bank, St. Johns & Halifax 1870's T15 Train 10 Schingoethe NB375-10 Eatons Actual Business Commercial College Bank, St. Johns & Halifax 1870's T15 Train 100 Schingoethe NB375-100 Eatons Actual Business Commercial College Bank, St. Johns & Halifax 1870's T15 Train 200 Schingoethe NB375-200 Eatons Actual Business Commercial College Bank, St. Johns & Halifax 1870's T15 Train 100 Haxby LA75-G26 Bank of Louisiana, New Orleans 1850-60's T15 Train 1 Haxby MA-UNL Belvidere Bank of Alexander Neely, Pittsfield 1850's T15 Train 5 Haxby RI255-G8a,b Atlas Bank, Providence 1850-60's T15 Hope/Anchor 2 Haxby NY420-G4 Bank of Lake Erie, Buffalo 1847 T15 Hope/Anchor 500 Haxby CA-UNL Banking House of F. Argenti & Co., San Francisco 1850's T15 Hope/Anchor 1 Jones TN10-04 City of Norfolk, Norfolk 1861 T15 Hope/Anchor 3 Haxby NJ-445-G14,G14a,b Commercial Bank of New Jersey, Perth Amboy 1851 T15 Hope/Anchor 2 Krause WI232-G4 Farmers Joint Stock Bank, Green Bay 1849 T15 Hope/Anchor 1 Haxby NJ315-G8a,b,d,e Morris County Bank, Morristown 1850-1860's T15 Hope/Anchor 5 Haxby NY2090-G8,8c Oneida Valley Bank, Oneida 1850's T15 Hope/Anchor 2 Haxby RI100-G22,G22a,b,c Rhode Island Central Bank, E. Greenwich 1850's T15 Hope/Anchor 100 Haxby NY1510-G16a Citizens' Bank, New York 1850's T15 Hope/Anchor 1 Haxby MA130-G2,G2a Cochituate Bank, Boston 1850's T15 Justice 5 Haxby NY190-G8a Auburn Exchange Bank Auburn 1850's T15 Justice 20 Haxby MS-UNL Bank of East Aberdeen, Aberdeen 1862 T15 Justice 2 Haxby NH270-G4a Bank of New Hampshire, Portsmouth 1850's-60's T15 Justice 10c Wolka 597-1 Daniel A Bynum, Newberry 1850's T15 Justice 5c Harris 5 John C Wheeler, Farmer Nov 1, 1862 T15 Justice 50 Haxby MA825-G38a Lee Bank, Leicester 1857 T15 Justice 5 Vlack 3760 Manufacturers & Merchants Printing @ Harris Printing Ofc, Phil 1860-70's T15 Justice 10 Haxby NJ315-G44,G44a Morrris County Bank, Morristown 1840's-1850's T15 Justice 5 Haxby NY540-234,234a Ontario Bank, Utica 1856 T15 Justice 20 Haxby NY1865-G12a Park Bank, New York 1850's T15 Justice 1 Rosene 22-1 RB Montgomery, Blountsville 1862 T15 Justice 1 Haxby NY2470-G48 Sackets Harbor Bank, Sackets Harbor 1850's T15 Justice 1 Jones TL05-07 Town of Leesburg, Leesburg 1861 T15 Justice 50 Haxby VT115-G14a West River Bank, Jamaica 1850's T15 Justice 20 Schingoethe MA110-20 Bryant and Stratton Commercial School, Boston T15 Justice 2 Schingoethe OH180-2 Nelsons College Currency/First Intl Bank , Cincinnati 1870 T15 Justice 1 Oakes 15-1 Merchants Ins. Co. and Burlington Savings Bank, Burlington June 1, 1857 T19 Navigation 1 Haxby WI850-G2, G2a Corn Exchange Bank, Waupun 1850's-60's T19 Navigation 5 Oakes 55-4,4a Lumbermens Bank, Dubuque, 1850's T19 Navigation 10 Haxby LA85-G20a,b Mechanics and Traders Bank, New Orleans 1858-1861 T19 Navigation 5 Haxby ME510-G10 Ship Builders Bank, Rockland 1850's Paper Money • September/October 2012 • Whole No. 281352 Type Vignette Value Reference Bank T19 Navigation 50 Haxby GA70-G12 Union Bank, Augusta 1850's-60's T19 Navigation 50 Haxby LA150-G10a Union Bank of Louisiana, New Orleans 1850's T19 Navigation 5 Haxby VT195-G8a, UNL Bank of Royalton, Royalton 1850's T19 Minerva 10 Haxby VA15- G6a,G14a Bank of the Old Dominion, Alexandria 1850's T19 Minerva 10 Haxby NY1465-G10,G10a,b,d Broadway Bank, New York 1850's T19 Minerva 2 Haxby VT215-G4a,G14a Franklin County Bank, St. Albans Bay 1850's T19 Minerva 10 Haxby LA80-G24a,G24b Louisiana State Bank, New Orleans 1850's T19 Minerva 25 Haxby NY2655-G18,G18a Bank of Syracuse, Syracuse 1840's-1850's T19 Minerva 5 Haxby MA1195-G16 Western Bank, Springfield1849-50's T19 Minerva 3 Canada Westmoreland Bank of Petticodiac 1850's T19 Minerva 4 Canada Westmoreland Bank Monaton 1850's T19 Blacksmith 10 Haxby LA100-G22b Bank of New Orleans, New Orleans 1850's T19 Blacksmith 2 Haxby NY2465-G4,G4a,b Bank of Rondout, Rondout 1850's-60's T19 Blacksmith 3 Haxby VT195-G6a Bank of Royalton, Royalton 1850's-60's T19 Blacksmith 5 Haxby NY239-G6,G6a,c,e Bank of Westfield, Westfield 1850's-60's T19 Blacksmith 3 Haxby NY1460-G12,G12a Bowery Bank, New York 1850's T19 Blacksmith 2 Haxby VT30-G4 Brandon Bank, Brandon 1840's-50's T19 Blacksmith 2 Krause WI232-G4 Farmers Joint Stock Bank, Green Bay Branch 1849 T19 Blacksmith 2 Krause WI475-G4 Hemenway's Bank of Deposite and Exchange, Milwaukee 1850's T19 Blacksmith 1 Haxby NY1065-G2 Ilion Bank, Ilion 1850's T19 Blacksmith 1 Krause WI820-G2a,b,c Jefferson County Bank, Watertown 1853 T19 Blacksmith 3 Haxby NJ315-G26,G26a,c,d Morris County Bank, Morristown 1850-'s-60's T19 Blacksmith 5 Haxby NJ315-G34,G34a,b,d Morris County Bank, Morristown 1840's T19 Blacksmith 2 Haxby NY835-G4 Putnam County Bank, Farmers Mills 1849 T19 Blacksmith 50 Haxby NH330-G14a Somersworth Bank, Somersworth 1850-60's T19 Blacksmith 100 Haxby NJ350-G80a State Bank, New Brunswick 1850's T19 Blacksmith 3 Haxby MA130-G6,G6a Cochituate Bank, Boston 1850's T19 Blacksmith 3 Haxby MA490-G6, G6a,b Trademan's Bank, Chelsea 1850's T19 Blacksmith 2 Oakes 89-2 Treasurer of Lyons City, Lyons City 1850's T19 Blacksmith 50 Haxby RI545-G86,G86a Warwick Bank, Warwick 1858 T22 Indian Family 1 Haxby NY2805-G142a,b Bank of Utica, Utica 1850's T22 Indian Family 5 Haxby LA45-G2a,G2b Crescent City Bank, New Orleans 1850's T22 Indian Family 1 Haxby NH300-G2a,b,c,d Farmers' and Mechanics' Bank, Rochester 1850's-60's T22 Indian Family 1 Haxby ME115-G2,G2a Norombega Bank, Bangor 1850's T22 Thetis 2 Wolka 797-3 Commercial Exchange Bank, Terre Haute 1858 T22 Thetis 100 Schingoethe NY2525-100 Eastman's College Bank, Rochester 1860's T22 Thetis 3 Haxby ME295-G6 Hancock Bank, Ellsworth 1850's T22 Thetis 5 Haxby LA80-G14a,b Louisiana State Bank, New Orleans 1850's T22 Thetis 1 Haxby ME510-G2 Ship Builders Bank, Rockland, 1850's T22 Thetis 100 FL CR-2 State of Florida, Tallahassee 1861 T22 Thetis 50 FL CR-3 State of Florida, Tallahassee 1861 T22 Thetis 20 FL CR-4 State of Florida, Tallahassee 1861 T22 Thetis 10 FL CR-5 State of Florida, Tallahassee 1861 T22 Thetis 5 FL CR-6 State of Florida, Tallahassee 1861 T22 Thetis 1.5 Haxby DC375-G4 United States Bank, Washington 1850's T22 Thetis 3 Haxby DC375-G8 United States Bank, Washington 1850's T22 Thetis 5 VA CR-5 Virginia Treasury Note, Richmond 1861 T22 Thetis 50c Jones TA05-55 Corporation of Alexandria, Alexandria 1860's T22 Thetis 3 Schingoethe TN200-3 Purdys' College Bank, Purdy 1850's T22 Thetis 10 Haxby MA635-G10,G10a Mahaiwe Bank, Great Barrington 1850's T22 Thetis 50 Schingoethe PA610-50 Quaker City College Bank, Philadelphia 1860's Paper Money • September/October 2012 • Whole No. 281 353 SPMC NEW MEMBERS - 06/05/2012 13749 - 13850 13849 pete Angelos (C), Website 13850 richard Herbert (C) Website REINSTATEMENTS none LIFE MEMBERSHIP none SPMC NEW MEMBERS - 07/05/2012 13851 - 13856 & 12923 13851 Jon Weilbaker, 2 Amanda Court, saratoga springs, nY 12866 (C, us small, nationals), Website 13852 david marcianti (C), Website 13853 Jerry Kumler (C), Judith murphy 13854 michael Andrews (C), Website 13855 Gary f. 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NEW MEMBERS Membership Director Frank Clark P.O. Box 117060 Carrollton, TX 75011 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@comcast.net website: horwedelscurrency.com 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. 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Box 13117 Prescott, AZ 86304-3117 Paper Money • September/October 2012 • Whole No. 281354 Type Vignette Value Reference Bank T22 Thetis 1 Schingoethe NB210-1 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 2 Schingoethe NB210-2 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 5 Schingoethe NB210-5 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 10 Schingoethe NB210-10 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 20 Schingoethe NB210-20 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 50 Schingoethe NB210-50 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 100 Schingoethe NB210-100 Mount Allison Bank/Commercial College Sackville 1874 T22 Thetis 500 Schingoethe NB210-500 Mount Allison Bank/Commercial College Sackville 1874 T22 Maiden with X 10 Haxby NY685-G10,G10b,c Bank of Cooperstown, Cooperstown 1850's T22 Maiden with X 1 Haxby NY1835-G2a,b,c Bank of North America New York 1850's T22 Maiden with X 10 Haxby VT195-G10a Bank of Royalton, Royalton 1850-60's T22 Maiden with X 1 Haxby NY2510-G2,G2a,b Bank of Saratoga Springs, Saratoga Springs 1840-50's T22 Maiden with X 10 Haxby TN130-G8a,b Bank of West Tennessee, Memphis 1861 T22 Maiden with X 10 Haxby NY1460-G20 Bowery Bank, New York 1840-50's T22 Maiden with X 10 Haxby NC95-G12,G12a,b Commercial Bank of Wilmington, Wilmington 1840-50's T22 Maiden with X 10 Haxby GA10-G46 Georgia RR and Banking Company, Augusta 1840-50's T22 Maiden with X 10 Haxby MA1200-G64 Housatonic Bank, Stockbridge 1850's T22 Maiden with X 1 Wolka 805-2 John Watsons Office, Terre Haute 1850's T22 Maiden with X 1 Haxby TN70-G16 Miners and Manufacturers Bank, Knoxville 1850's T22 Maiden with X 1 Haxby NY2090-G2,G2c Oneida Valley Bank, Oneida 1850's T22 Maiden with X 2 Haxby RI530-G4a Sowamset Bank, Warren 1863 T22 Maiden with X 10 Haxby IN1-G38,G142,G196,G320 State Bank of Indiana Branches 1847-50 T22 Maiden with X 1 Wolka 806-1 Watson and Shannon's Office, Terre Haute 1850's T22 Maiden with X 1 Oakes 12-1 City of Burlington, Burlington 1850's T31 Five Ladies 5 Haxby NY185-G8 Auburn City Bank, Auburn 1850's T31 Five Ladies 5 Haxby KY255-G56a,G70a,G84a Commercial Bank of Paducah, Paducah 1850-60's T31 Five Ladies 5 Haxby ME385-G8,G8a,c Lewiston Falls Bank, Lewiston 1850's T31 Five Ladies 5 Haxby RI345-G28a,b Mechanics and Manufacturers Bank, Providence 1850's T31 Five Ladies 5 Haxby NH200-G8a,b Souhegan Bank, Milford 1850's T31 Five Ladies 5 Haxby LA140-G2a,b Southern Bank, New Orleans 1850's T31 Five Ladies 5 Haxby NY1550-G8,G8a,b Continental Bank, New York 1850's T31 Five Ladies 5 Haxby NY2420-G6,G6b,c Union Bank of Rochester, Rochester 1853 T31 Navigation 100 Haxby MA1165-G16 Agawam Bank, Springfield, 1840's-60's T31 Navigation 10 Haxby NY445-G8,G18,G28 Merchants County Bank of Erie County, Lancaster March 1 1844 T31 Navigation 100 Haxby NY1465-G16,G16b,c Broadway Bank, New York 1849 T31 Navigation 3 Haxby NH325-14,G14a Great Falls Bank, Somersworth 1840-50's T31 Navigation 10 Haxby NY2140-G8,G8a,b Luther Wright Bank, Oswego 1840's T31 Navigation 5 Haxby NY1745-A60 Merchants Bank in the City of New York, New York May 1 1859 T31 Navigation 5 Haxby DC275-G6 Merchants Bank, Washington 1852 T31 Navigation 3 Haxby RI115-G56 Mount Vernon Bank, Providence 1850's T31 Navigation 10 Haxby MA110-G18,G18a Blackstone Bank, Boston 1850's T31 Washington 5 Haxby MI110-G8 Bank of Coldwater, Coldwater 1830's T31 Washington 3 Haxby GA180-G20 Bank of Hawkinsville, Hawkinsville 1830's T31 Washington 5 Haxby MI140-G22 Bank of Michigan, Detroit 1830's T31 Washington 100 Rosene 292-5 Bank of Selma, Selma 1862 T31 Washington 1 Haxby MI420-G2 Bank of Singapore, Singapore 1830's T31 Washington 3 Haxby MI50-G12 Bank of Washtenaw, Ann Arbor 1830's T31 Washington 5 Haxby ME215-G16 Brunswick Bank, Brunswick 1850's T31 Washington 5 Haxby MS235-G2 Commercial Bank of Manchester, Yazoo City 1830's T31 Washington 500 Haxby RI276-G62 Commercial Bank, Providence 1830-60's T31 Washington 10 Haxby LA55-G6 Exchange and Banking Co., New Orleans 1830's-40's Paper Money • September/October 2012 • Whole No. 281 355 Figure 11. $1 Corn Exchange Bank Waupun Wisconsin, Haxby WI850-G2, C-Navigation. Figure 12. $5 Bank of Royalton, Royalton Vermont, Haxby VT195-G8 UNL, R-Navigation. Figure 13. $10 Broadway Bank, New York, New York, Haxby NY1465-G10, L-Minerva. Paper Money • September/October 2012 • Whole No. 281356 Figure 14. $10 Bank of the Old Dominion, Alexandria Virginia, Haxby VA15-G14a, L-Minerva. Type Vignette Value Reference Bank T31 Washington 10 Haxby CT335-G84 Fairfield County Bank, Norwalk 1830's T31 Washington 2 Haxby MI130-G6 Farmers and Mechanics Bank, Detroit 1830's T31 Washington 100 Haxby MS75-G16 Grand Gulf RR and Banking Co., Grand Gulf 1830's T31 Washington 5 Haxby MI190-G8 Grand River Bank, Grand Rapids 1837-39 T31 Washington 100 Haxby NJ5-G22 Manufacturers Bank at Belleville, Belleville 1830's T31 Washington 10 Haxby FL70-G10 Merchants and Planters Bank of Florida, Tallahassee 1830-40 T31 Washington 2 Haxby NJ365-G8 Mechanics Bank at Newark, Newark 1830-40's T31 Washington 1 Haxby FL35-G2 Merchants' and Planters' Bank at Magnolia, Magnolia 1832-35 T31 Washington 100 Haxby MA910-G56 Merchants Bank, Newburyport 1830-50's T31 Washington 20 Sheheen 274 Merchants Bank of South Carolina, Cheraw 1840's T31 Washington 5 Hoober 192-10 Mifflin County Bank, Lewistown 1861 T31 Washington 50 Haxby RI115-G68a Mount Vernon Bank, Providence 1850's T31 Washington 5 Haxby NY1845-G16 North River Bank, New York 1830-40's T31 Washington 5 Haxby MA995-G16 Old Colony Bank, Plymouth 1830-40's T31 Washington 100 Haxby MS-155-G20 Agricultural Bank of Mississippi, Natchez 1830's T31 Washington 100 Haxby MS195-G24 Bank of Mississippi, Princeton 1830's T31 Washington 1.5 Wolka 2324-03 Erie Salt Co. Bank of Richmond, Richmond 1830's T31 Washington 20 Haxby MA190-G80 Franklin Bank, Boston 1841 T31 Washington 3 Haxby NY1635-G6,C6 Greenwich Bank, New York 1841 T31 Washington 3 Haxby RI570-G24 Narragansett Bank, Narragansett 1830's T31 Washington 5 Haxby MA330-G22 Oriental Bank, Boston 1830's T31 Washington 5 Haxby CT-UNL Quinebaug Bank, Norwich 1830's T31 Washington 1 Haxby NY1946-G70 Union Bank in the City of New York, New York 1830's T31 Washington 100 Haxby MS230-G24 West Feliciana RR Co., Woodville 1830's T31 Washington 3 Haxby CT205-G22 Jewett City Bank, Jewett City 1830's T31 Washington 20 Wolka 559-67 Miami Exporting Company, Cincinnati 1830's Paper Money • September/October 2012 • Whole No. 281 357 figure 15. $50 Warwick Bank, Warwick Rhode Island, Haxby RI545-G86, R-Blacksmith. Figure 16. $3 Cochituate Bank, Boston Masscheutts, Haxby MA130-G6a, R-Blacksmith. Figure 17. $1 Farmers’ and Mechanics’ Bank, Rochester New Hampshire, Haxby NH300-G2, C-Indian Family. Paper Money • September/October 2012 • Whole No. 281358 Figure 18. $1 Norombega Bank, Bangor Maine, Haxby ME115-G2, C-Indian Family. Figure 19. $5 Louisiana State Bank, New Orleans, Haxby LA80-G14, L-Thetis. Figure 20. $1 Ship Builders Bank, Rockland Maine, Haxby ME510-G2, L-Thetis. Florida Paper Money 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 Paper Money • September/October 2012 • Whole No. 281 359 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" $21.60 $38.70 $171.00 $302.00 Colonial 5-1/2" x 3-1/16" $22.60 $41.00 $190.00 $342.00 Small Currency 6-5/8" x 2-7/8" $22.75 $42.50 $190.00 $360.00 Large Currency 7-7/8" x 3-1/2" $26.75 $48.00 $226.00 $410.00 Auction 9 x 3-3/4" $26.75 $48.00 $226.00 $410.00 Foreign Currency 8 x 5 $32.00 $58.00 $265.00 $465.00 Checks 9-5/8 x 4-1/4" $32.00 $58.00 $265.00 $465.00 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" $82.00 $365.00 $665.00 $1530.00 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 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 HIGGINS MUSEUM 1507 Sanborn Ave. • Box 258 Okoboji, IA 51355 (712) 332-5859 www.TheHigginsMuseum.org email: ladams@opencominc.com Open: Tuesday-Sunday 11 to 5:30 Open from Memorial Day thru Labor Day History of National Banking & Bank Notes Turn of the Century Iowa Postcards Paper Money • September/October 2012 • Whole No. 281360 Figure 21. $10 Bank of Louisiana, New Orleans, Haxby LA75-G14, R-Indian Maiden with X. Figure 22. $1 Miners’ and Manufacturers Bank of Tennessee, Knoxville Tennessee, Haxby TN70-G16, R-Indian Maiden. Figure 23. $5 Union Bank of Rochester, Rochester New York, Haxby NY2420-G6, C-Five ladies. Paper Money • September/October 2012 • Whole No. 281 361 Paper Money • September/October 2012 • Whole No. 281362 Figure 24. $5 Southern Bank, New Orleans,Haxby LA140-G2, C-Five ladies. Figure 25. $3 Mount Vernon Bank, Providence Rhode Island,Haxby RI 115-G56, L-Navigation. Figure 26. $1 Farmers Joint Stock Bank, Green Bay Upper Canada, Haxby-UNL, R-Navigation. Fred, i just got my copy of the current issue of Paper Money (July/August). nice articles. However, you and peter Huntoon slipped up on the photo on page 315. the caption describes the plane as a "u. s. fighter plane." Actually, it is not a fighter, but a Grummer tBf Avenger torpedo bomber, judging from pictures in a book in my library about aircraft of WWii. While it's not a big deal, in the interest of historical acurra- cy. sincerely, -- Lee Hartz Fred, Whenever you discuss or show anything military, you can expect to get corrected! People really identify with military gad- gets. Undoubtedly the fellow is correct. Am sure you get a lot of this with your Civil War stuff. Already got one rave e-mail about the R & S content of the article. Everyone can have their fun with whatever they like in that article. The military guys are still hyped about the Hawaii & North Africa article we put out a few years ago, and also the WW II use of the 1929 FRBNs in a more recent article. In fact, some guy requested a copy of the latter at the ANA Colorado Springs semi- nar, which I was able to provide, and they were all sitting around talking about it the next day in conjunction with Schwan's class. Incidentally, I discovered that airplane shot when I was looking through rolls of aerial photography from the invasions of Tarawa and the various Mariana Islands, and the targeting and po st-b omb assessment pho to s from the atomic b omb ings o f Hiroshima and Nagasaki. Of course, the shot in question had no labels or attributions other than the date stamp on the negative. I never saw any of the hundreds of frames I culled through in pub- lished form anywhere, so suspect that historians never thought to look through the enormous trove of aerial photography that came out of the war. Instead they focus on movie film and ground shots. The division of the National Archives housing the arial pho- tography has been closed for years owing to budget cuts that gut- ted the staff. Through serendipity I got in there 30 years ago and spent a day or two scratching the surface of 80,000 cans of such film. In February, I donated all the prints I got from it to the University of Utah Multi-Media center as part of a large collec- tion of A- and H-bomb and Pacific Theater materials. That pick- up load of stuff was too historically significant to leave to the vagaries and whims of my heirs! -- Peter Huntoon
Paper Money • September/October 2012 • Whole No. 281 363 Figure 27. $5 Bank of Michigan, Detroit Michigan, Haxby MI144-G22, R-George Washington statue. Figure 28. $3 Bank of Washtenaw, Ann Arbour Michigan, Haxby MI50-G12, R-George Washington statue. Torpedo bomber, not fighter in WWII historical photograph Paper Money • September/October 2012 • Whole No. 281364 sinCe tHe u.s. mint suspended its presidentiAl dollArcoinage in late 2011, we are not likely to find nixon dollars in circulationanytime soon. While we endure the long wait until 2016 to see if they appear,some consolation can be found by looking back at an earlier piece of com- mon political ephemera, nixon’s “frozen dollar” of 1971. nineteen seventy-one was a momentous year for America’s currency. inflation was rising, and the country was experiencing growing budget and balance of payments deficits. responding to increasing international demands for gold redemption of overseas u.s. dollar balances, president richard nixon on August 15, 1971, suspended free convertibility of the dol- lar into gold. in addition to “closing the gold window,” nixon also imposed temporary wage and price freezes, as well as a 10% sur- charge on imports. popular with domestic audiences, the “nixon shock” created turmoil in the international monetary system and led to the end of the Bretton Woods arrangement by 1973. At least one person saw a novel profit angle in these events. Harley schwartz, a detroit entrepreneur, had already tried his hand at managing a nightclub in pontiac and by the age of 20 had found- ed a company to make side-mounted tail pipes for race cars. freshly divorced at 24 and now head of the Great American dream Corp., schwartz branched out into the currency business in a way that soon ran afoul of the secret service. starting in september 1971, schwartz and the Great American dream Corp. sold spoof “frozen dollar” bills from the “inflated states of America” with a portrait of nixon, labeled “daddy sorebucks,” flashing with one hand his signature peace gesture, the other hand with fingers crossed. About one-third larger than actual currency, the “frozen dollar” motif alluded to the administration’s attempts to hold down price increases. like other examples of satirical currency, this one was larded front and back with verbal and visual puns, some pertinent, others a bit off mark (martha mitchell was really one of the administration’s victims, and if John Connally was no timothy Geithner, at least he wasn’t a crook). it’s unclear if schwartz himself designed the bills, but the sheer number of allusions suggests a designer conversant with the politics and personalities of the early 1970s. one of schwartz’s customers was the michigan democratic party, which bought 250,000 of them for 35 cents per hundred and then handed them out to supporters in exchange for campaign contributions of the real sort. the Great American dream Corp. was actually just at the end of the supply chain. the bills had been printed by a press in Kalamazoo, and the packaging handled by new Horizons, an oakland County agency that provided (and still does, throughout michigan) training and employment to people with disabilities. While nobody would have mistaken a “frozen dollar” for a genuine one, enough of the script and scrollwork was copied from actual currency that schwartz’s Nixon’s ‘Frozen Dollar’ By Loren Gatch Above and below: Harley Schwartz, Great American Dream Corp., Master Counterfeiter. Opposite: Nixon Dollar leaflet pro- moting “Phase Two” currency. Paper Money • September/October 2012 • Whole No. 281 365 Paper Money • September/October 2012 • Whole No. 281366 operation attracted unwelcome attention from the secret service, which had already moved in november to take possession of the printing plates in Kalamazoo. finally, on december 16, an agent duly showed up at the Great American dream Corp. to confiscate some $50,000 worth of the satirical notes, which schwartz obligingly car- ried out to the agent’s car. seizing the bills did not stop any counterfeiting, and schwartz was not arrested. But it did mean that the secret service had put a dozen disabled employees of new Horizons out of work. otherwise, the government’s ham-handed action was a publicity godsend for the “frozen dollar.” Harley schwartz’s mutton-chopped visage appeared in newspapers across the country. the Woodward & lothrop department store in Washington d.C. managed to acquire a supply of five hundred notes prior to their seizure, and their new notoriety caused them to sell out rapidly at 30 cents apiece—nearly a hundredfold markup! nelson Whitman, the longtime manager of Woodie’s coin department, dismissed the counterfeiting charge. ”there’s no similarity of these at all to dollars. it’s probably a political maneuver.” the nixon dollar “can’t be spent. it’s a novelty is what it is. most people buy it as a con- versation piece.” the michigan democratic party used the incident as an opportunity to poke fun at the republicans, especially for their reliance upon big-money campaign donors. “for the republicans, a few gave a lot. for us democrats, we hope a lot are going to give a little to our party” by exchanging real dollars for satirical ones. Harley schwartz played his part as the aggrieved victim of government excess. “the secret service is responsible for protecting money and the president. i don’t know which they were doing when they raided my company. the irony of it all was that the bills had been on the street for 90 days before they decided to seize them.” schwartz exploited his fame while he had it. in mid-January 1972, just a few days after nixon announced his plans to run for a second term, schwartz and the “Phase One” and “Phase Two” Nixon ‘Frozen’ Dollars. Paper Money • September/October 2012 • Whole No. 281 367 michigan democratic party announced their own second version of the “frozen dollar”: a new printing of 350,000 two dollar-denominated “phase two” bills, a dig at the Administration’s term for its economic policies. to head off future visits from the secret service, schwartz redesigned those elements of the first bill that had been copied from an actual dollar. otherwise, the wordplay on the second bill was identical to the first. michigan democrats planned to hand out one “phase two” bills in exchange for each dollar in contributions. schwartz sought to capitalize on the earlier controversy by selling ten-note packages of the new bills for one (real) dollar apiece, with a 50% discount for bulk purchases. even at the wholesale rate of 5 cents a note, schwartz would have made far more per note than the 35 cents per hun- dred he had charged earlier. Alas, “phase two” bills were no more successful than nixon’s economic policies, and the last evidence of schwartz’s activities was a lawsuit filed against the u.s. Government on June 6, 1973, in the eastern district of michigan by the now- defunct Great American dream Corp. seeking $250,000 in damages, schwartz alleged that, by seizing his notes, the authorities acting “out of political malicious- ness” had deprived him of his free speech rights. the suit went nowhere, given the secret service’s prevailing hard line against almost any representation of u.s. cur- rency, no matter what the medium. schwartz was not alone in his experience. in september 1973, the unlucky importer of Japanese coffee mugs emblazoned with a three-dollar bill featuring a particularly scrofulous portrait of nixon met a similar fate. defending the integrity of the currency, secret service agents swooped down upon a san raphael, CA dis- tributor, seizing and destroying 2,000 of the mugs. Corporate counsel for the dis- tributor’s parent, General Housewares of Hyannis, mA took a more philosophical reaction than did schwartz: “i personally don’t think we violated any law, but there are some things that economically you can’t fight…like the government.” it wasn’t until 1984, in the case Regan v. Time, Inc. that the supreme Court loosened on first Amendment grounds some restrictions on reproducing currency. this was followed in 1992 by passage of the Counterfeit deterrence Act, which allowed color reproductions in some cases. By then, nixon was long out of office, but his “frozen dollar” remains as a plentiful reminder of his administration’s eco- nomic legacy. References “Aspiring millionaire finds profit in imitation Bills,” Chicago Tribune, January 27, 1972, p. s12. “Caricatures of nixon Confiscated,” The [madison, Wi] Capital Times, december 20, 1971, p. 38. “fake money suit,” The Washington Post, June 9, 1973, p. A4. “fake nixon dollars sell like money,” The Washington Post,december 19, 1971, p. B1. the Great American dream Corp. “We’ve Got What it takes…money!” undated promotion- al poster. “toy money seizure puts Help Agency into depression,” The [Benton Harbor, mi] News- Palladium, december 18, 1971, p. 23. “u.s. seizes mugs with picture of nixon on $3 Bills,” Los Angeles Times, september 28, 1973, p. 3
These too were confiscated by the Secret Service. Paper Money • September/October 2012 • Whole No. 281368 on mArCH 27, 1931, A united stAtes treAsurY AGentnAmedfrank J. Wilson wrote a four-page letter to his boss, elmer irey, the chiefof the intelligence unit of the internal revenue service. Although theagency would not officially be named internal revenue service until 1953, it had unofficially and occasionally been using that name for decades before. Wilson provided irey a status report of the ongoing investigation against Alphonse (Al) Capone, including the names of new witnesses, as well as the information they would testify to, including a witness who claimed he purchased $60,000 worth of alcohol from Capone. A chemist was brought in to analyze the alcohol and determined it had been poi- soned. in addition to unreported income from gambling and bootlegging, Agent Wilson remarked that Capone had unreported income related to prostitution, which if proven, would increase the likelihood of a convic- tion, and would cause the court to “no doubt, inflict a heavier sentence than would be inflicted if the income relat- ed only to gambling.”1 much of the letter relates to the agent’s complaint of not having the office space and office sup- plies he needs. He mentions the inves- tigative team has four cabinets in the office but are “badly in need” of two or three more. the three revenue agents assigned to the case are sharing one “ancient flat top desk.” Wilson stated that he had asked for a new desk from the u.s. attorney's office, but to no avail. “there is the usual stall around here,” he laments. Wilson suggests that if money can’t be found to obtain new space, office supplies and a stenographer, maybe he, the three revenue agents (W.C. Hodgins, noble Clagett, and Jacque Westrich) and the three other special agents (nels tessem, who was so good with numbers that irey called him a “human Comptometer;”2 michael f. malone, who was played by sean Connery in the 1987 movie The Untouchables; and James sullivan) can take over space currently Frank Wilson, Eliot Ness and Al Capone By Paul N. Herbert Paper Money • September/October 2012 • Whole No. 281 369 used by other treasury agents working on the police cases. the conditions made it hard to work “effectively, efficiently, or intelligently,” and furthermore, “may affect our health or our good nature during the summer months.” something must have happened because in a letter the next month (April 8, 1931), Wilson advises the chief that he (Wilson) now has a new office, three tables, a chair, and a stenographer named miss marie donahue, so the investigators are “now in a position to perform our work without interruptions.”3 Although still in need of furniture, Wilson was encouraged to have new space: “We all feel very pleased over our new location.” He provided information about the case to the chief, including the fact that the u. s attorney's office was considering a conspiracy charge against Capone and the others. Wilson concluded that for the years 1924-1929, inclusive, Capone did not file any tax returns to report the $1,038,655.84 he received for his share in gambling “illicit profit-making enterprises.”4 the New York Times mocked the government for calculating such a minimal amount of unreported income, calling it “astonishing in meagerness.”5 the tax due for that unreported income was almost $220,000. With penalties added in the total amount was $383,705. through his attorney, Capone acknowledged that one-sixth of the deposits and funds handled by the syndicate could fairly and accurately be attributed to Capone. Paper Money • September/October 2012 • Whole No. 281370 prosecutors did not claim this was all Capone’s unreported income, only the income they were confidant they could prove. during those years Capone had no property in his name, kept no books and records, had no bank accounts, and with the exception of Western union wire transfers, used cash exclusively. Capone was indicted on march 13, 1931, for the income tax violations for the year 1924 (the six-year statute of limitation was to expire two days later). on June 5, 1931, Capone was indicted a second time, on twenty-two counts related to income tax violations for the years 1925-1929. the unreported income that formed the basis of the indictment related strictly to gam- bling. A week later, a third indictment came down against Capone, this one for con- spiring to violate the prohibition laws. Capone pleaded guilty in June 1931 to all counts in both tax indictments. He and the prosecutors had worked out an agreement, including the amount of time Capone would spend in jail. However, that agreed-upon sentence turned out in the eyes of the public and the media to be too lenient. the government was lambasted and lam- pooned for giving Capone a slap on the wrist. not wanting to appear soft on America's “number 1 criminal,” the judge refused to accept the recommended sentence. He let Capone know the sentence was going to be much more severe and thus offered Capone the opportunity to withdraw his plea and take his chances at trial, which is exactly what happened. the case went to trial a few months later; Capone was found guilty on october 17, 1931, on five of the twenty-three counts listed in the first and second indictments. A biographer of Capone characterized Wilson as an “investigative accountant, whose forte was dogged, exhaustive, sitzfleisch (dogged determination) examination of records.”6 (one of the underappreciated joys of reading: stumbling upon interesting words like sitzfleisch!) All those details came out at trial, where Capone did not attempt to refute the gambling income. instead, he tried to offset winnings against losses that he claimed to have incurred with bookmakers for betting on horse races. Capone brought in some of his friends to testify about the horse racing losses. they were later convicted of perjury for this testimony. the government had to tie the records of the gambling establishment to Capone. the records themselves only had numbers and dates on them. the chal- lenge got accomplished in large part due to some bad timing – a few years earlier – on Capone's part. during a raid of a Cicero gambling establishment in 1925 (Capone was not there at the time of the raid), the authorities stationed a couple men at the doors as guards so no one could enter or leave during the search. Who should show up, and insist on entry, but Al Capone? the angry Capone adamantly insisted to be let in. Why should they let him in and who was he? Why, Al Capone, of course, and he owned the place! that tirade made it easier for the government to connect the gambling income to Capone. Also making it much easier to get a convic- tion were the statements Capone's lawyer had made acknowledging Capone's profits During those years Capone had no property in his name, kept no books and records, had no bank accounts, and with the exception of Western Union wire transfers, used cash exclusively. Paper Money • September/October 2012 • Whole No. 281 371 from the enterprise. As for finding Cicero, illinois, the heart of Capone's operation, it was some- times said that if you smelled gunpowder, you were there.7 All those gambling prof- its could pay for some lavish expenditures. Capone hosted a party, which set him back $3,000, in a Chicago hotel for the dempsey-tunney prize fight in september 1927. A 1926 Kentucky derby party set him back $4,925. A marshall field sales- man said Capone paid $213.50 in november 1928 for several items including 28 ties at $4 each. He also bought precisely 23 suits in a one-year period (may 1927 to April 1928) for $135 each (not all for Capone). the suits came with heavy pockets sewn in because of the revolvers the wearers would carry. in addition, Capone bought four suits of union underwear of italian glove silk for $12 each; custom made shirts ranging in price from $18-$27 each; a mcfarlane deluxe Cabriolet auto for $12,500, and a house in miami Beach for $50,000 in cash. He also pur- chased 25 ladies beaded bags for $22.50 each and 30 diamond-studded belt buckles for $275 each. Capone's telephone bill for the miami Beach house was $3,141 in 1929 and $3,061 in 1930, relatively small change when you consider what his orga- nization paid for the telephone bill for his home at Chicago's lexington Hotel for the period of August 1928 to september 1930 – more than $38,000! for approxi- mately this same period, Capone's organization paid the hotel more than $21,000. in addition to reviewing records and interviewing witnesses, information was gathered by tapping telephone lines. Agent Wilson stated that “through cooper- ation from other sources we were legally furnished with information related to and transcripts of telephone conversation[s] over certain lines.”8 Conspicuously missing from this story is the name eliot ness. the work ness and his men (“the untouchables”) did resulted in a single prohibition charge which was quietly dropped by the government after prohibition was repealed. through movies and television shows, we’ve all heard the amazing, overblown exploits of eliot ness. But in reality it’s Hollywood fiction. in his fifty-nine-page single spaced report laying out all the details of the tax case against Capone, Wilson went to great lengths to list the names of no fewer than twenty-two people who had assisted in the investigation and/or who were in the chain of command. eliot ness was not mentioned a single time in the entire report. eliot ness was an honorable, industrious and successful prohibition agent, but Capone didn’t get convicted for anything related to prohibition or alcohol. He got convicted for tax violations relat- ed to unreported gambling income. eliot ness didn't “get” Capone. frank Wilson did. End Notes 1. frank Wilson’s letter to Chief, intelligence unit, march 27, 1931. 2. robert J. schoenberg, Mr. Capone: The Real – and Complete – Story o f Al Capone, new York: William morrow, 1992, page 242. 3. frank Wilson’s letter to Chief, intelligence unit, April 8, 1931. 4. frank Wilson’s report to Chief, intelligence unit, december 21, 1933. 5. schoenberg, page 310. 6. schoenberg, page 298. 7. Kenneth Allsop, The Bootleggers: The Story of Prohibition, new rochelle, nY: Arlington House publishers, 1961, page 63. 8.frank Wilson’s report to Chief, intelligence unit, december 21, 1933.
Have you checked out the SPMC website (www.spmc.org) lately? Lots of good stuff there Members-only access to all back issues of Paper Money and other benefits! Dear Fellow Paper Money Lovers: [This issue’s column is written with apologies to one of America’s all-time great short story stylists, in a style all his own, but inspired by a real and recent con- versation.] so i am sitting on the eastern side of an avenue named Broadway along about four bells. And the reason i am so sitting is that it is a most warm day in July, and my two acquaintances decide it is time for a break from their busy schedule of eating waffles and going to movies. And they need to rest up before they go to dinner. one of these individuals is a very brainy guy by the name of doctor Wonder, and he is so named for the many daylight hours he spends in his laboratory cranking out wondrous new chemicals and formulas such as will melt and explode and clean and erode and generally aid humanity to enjoy a better life, although it must be said he does not do all this for free, and so it must also be said that he likely does not do this because of the big warm spot in his chest cavity that nobody can find. At least recently. my other friend is a younger guy who is not so young anymore who hails from a place that is so far out into the midwest that practically nobody knows where it is and who came east to seek fame and fortune and adventure and mostly adventure and after a few doses of adventure discovered love and has decided to take fame and love and a little fortune back to the midwest, but sometimes comes to the big City to inspect the quality of the suds and food and visit doctor Wonder if he is in town and generally look at the buildings and such. And because he is always considered by himself a generally handsome guy and quite the draw, he is known to many as the don, although he is not to be confused with other dons around and about on Broadway and other streets in this city, who are not gener- ally from the midwest, but are quite adventurous in their own way. ordinarily, i will not spend any time with such char- acters on a bet, but i also need a break from eating break- fast with them, and going to the cinema, and also i need a rest before dinner, and nothing will do but what we get to talking about one of our favorite topics, old timey paper money such as was used once upon a time in places like kingdoms in europe and potentates in Asia, with a south American republic chucked in occasionally for good mea- sure. it seems that once upon a time, people actually would take a gander at the paper money in their money box. the rulers of these republics and duchies and what- not, feeling it important that everybody understand how great their country is and who is in charge and so forth would call upon artists and engravers and printers and the like to make only the most grand and imposing impres- sion with these simoleons as they would issue. so it seems that doctor Wonder and the don both think that this old timey money is interesting and attrac- tive and historic, and nothing will do for them but to spend many of their waking hours looking for it and buy- ing it and selling it and sorting it and talking about it with other unusual individuals such as feel the same strange way about it, and it is really quite surprising how daffy some of these individuals will get when it comes to getting their arms wrapped around an old rag that would not do to carry home fish, but which in so unusual and hard to find so as to be called “unique” or “finest Known” or “pop 3.” personally, i will not give you a used wooden nickel for a piece of paper that is “unique” or “finest Known” or “pop 3,” unless it is a paper that i can trade for a ride to Bay ridge on the Brooklyn 63 bus, and a medium-well hunk of steer when i get there, but it seems that there are quite many of these daffy people chucking dough at peo- ple as what have these rare and beautiful old finnifs and pound notes and saws and doubles saws and simoleons of every foreign sort, and they all seem to get together and call and write and buy and trade and sell and such, so there must be something to it, even if i can’t see it. it seems also, according to the don and the doctor, that because these shinplasters and horse blankets general- ly need to be “authentic” to be interesting to these collec- tor people, and because there is also a long history of debates and altercations breaking out about “grade” and “condition” as well, that certain knowledgeable citizens Paper Money • September/October 2012 • Whole No. 281372 The President’s Column have found it in their heart to establish “grading stan- dards,” and put these notes in protective custody in plastic envelopes with these citizens’ opinions in writing in the envelope. they also tell me that while the cost of admission to collect such items has a tendency to bounce around, espe- cially such as when the economic situation bounces around, notably when jugs start to bust all over the place and small and not so small nations decide not to pay their bills from time to time. However, they also state to me with some conviction and wonderment that despite the woes of the world, that nice old money from outside the good old u s of A has behaved itself in a kind of steady upward slope. this statement is pondered no little by doctor Wonder and the don and myself as we sit there taking the air and guzzling some suds and enjoying life along Broadway most amicably. We continue to ponder this and other matters, such as the weather, and the cur- rent cinema and the state of the fashion industry, until we arrive at the conclusion that the buying and selling of these old pound notes and such is making prices go up because more people want to own them and they ain’t making them anymore. All in all, a lovely day, and a lovely way to pass it. sincerely, Paper Money • September/October 2012 • Whole No. 281 373 Mark
Small Notes by Jamie Yakes Series of 1987 Microprinting never seen A series of 1987 $5 federAl reserve note?neither had i until september 2009. peter Huntoon and i were at the smithsonian institution then, researching currency proofs when i stumbled upon this curious find. tucked away in the repository room was a folder containing a stack of miscellaneous sheets. inside was a 32-subject sheet of series of 1987 $5 notes with plate serial 1; the e2 note is pictured here. the sheet was identical to the issued series of 1985 notes except for the date--or so we thought. its placement in the pile obviously indicated something special about that sheet. Huntoon and i inspected it for a few minutes, but found nothing. Having other things to do on our list, we made a few scans of the sheet and moved on. A few weeks later Huntoon emailed me the scans with the challenge of explaining the notes. furiously, i studied every detail, face and back, and almost conceded failure. then i noticed that flanking lincoln's portrait was the microprinted legend "united stAtes of AmeriCA." now it was obvious! the sheet had been lifted from an experimen- tal plate used to test the microprinting made standard on series of 1990 $10 and higher notes, and series of 1993 $5s. unfortunately i have yet to locate more information about that plate. the treasury added microprinting to our currency in 1991 as a security feature to combat counterfeiting. the tiny text foiled copying machines because the legends became fuzzy lines whenever someone copied the notes. Along with the security thread introduced concurrent- ly (but not on the 1987 $5s), these features heralded a new phase in securing the integrity of united states currency. the use of microprinting, however, was not new to united states securities. the American Bank note Company and the united states Bank note Company both used it starting with series of 1982 united states department of Agriculture food coupons (Huntoon, 2011). microprinted on those was the legend "us depArtment of AGriCulture," repeated along the inside bottom and right sides of the border around the portrait. it served the same anti-counterfeiting purpose later intended for federal currency. Acknowledgments the professional Currency dealers Association supported this research. scan courtesy of peter Huntoon from the certified federal cur- rency proofs at the national numismatic Collection, national museum of American History, smithsonian institution, Washington, d.C. References Huntoon, p. “u.s.d.A. food Coupons,” Paper Money, vol. 50, no. 3 (2011), pp. 169-200.
Paper Money • September/October 2012 • Whole No. 281374 Miss America following the publication of martin Waldseemuller's Cosmographiae Introductio in 1507, the land first reached by Columbus was usually called America. it was named for Amerigo vespucci (1454-1512), who, seven years after Christopher Columbus’ first voyage, made a similar journey. As to the appearance of the inhabitants of the new World, most europeans were left to their imaginations. in 1515 one of the decorations Albrecht du ̈rer used for the margins of the Book of Hours for emperor maximilian i was an indian maiden, that is, du ̈rer's impression of an American indian. this illustration was the genesis of the allegorical image of America most used by europeans. in 1575 Johannes stradanus drew The Disc o very o f America, showing Amerigo vespucci rousing (the female) America from her hamaca. stradanus portrayed America with Western features and the full figure found attractive by european artists of the time. sketches (and actual specimens) of animals, birds and lizards, never before seen by europeans inspired further images of the faraway America. the armadillo and alliga- tor were most often associ- ated with the new World. in numerous paint- ings, including Giovanni Battista tiepolo’s America, a female figure is shown riding on the back of what appears to be a large rep- tile. (tiepolo's work, which graces the ceiling above the staircase in the Bishop's palace in Wu ̈rzburg, Germany, can be seen in Kenneth Clark's Civilization, p. 236.) the Andrea pozzo ceiling of the Church of st. ignatius in rome, which portrays the five continents, includes America with a feathered headdress; here she is placed near a tiger-like crea- ture. other european artists, among them delacroix, Holbein and rubens adopted similar representations. two centuries after her european debut, the figurative image – without armadillo or alligator – returned to north America. new York notes dated november 28, 1717, include the arms of the City of new York, which incorporates a crude figure of an indian princess. the 5-shilling note from Georgia dated 1762 also bears an unpolished image of an indian princess. in paul revere’s 1770 engraving A View of Part o f the Town of Boston, a small female figure, with feathers in her hair and hold- ing a bow and arrow, can be seen in the lower right corner. thus was born the image of an indian princess as the symbol of America in America. for more than a century after the Great seal of the united states was adopted in 1782, America, depicted as an indian princess, decorated everything and anything, including coins and paper money. At times she was holding a pole topped with a liberty cap. the next time you have an opportunity to examine a collec- tion of united states obsolete and federal bank notes, you will be surprised to see the many depictions of America. A few specific examples of obsolete notes include the $1 note from the egg Harbor Bank in new Jersey. this image of America is the cre- ation of artist t.A. liebler; the work was engraved by owen G. Hanks and Walter shirlaw. Alfred Jones engraved America, with liberty pole and cap, on the $2 note issued by the City Bank in Atlanta, Georgia. other examples are found on notes of the Bank of the Capitol, Albany, new York ($1); the Bank of Camden, south Carolina ($10); the state Bank of new Brunswick, new Jersey ($3); and the Bank of Whitfield in dalton, Georgia. the $5 first charter national Bank note (Hessler, 6th ed., catalog nos. 274-286) and the $5 national Gold Bank note (H343-348) features the vignette America Presented to the Old World. Here America is an indian princess. A $10 united states (legal tender) note (H466-468) carries a varia- tion of the aforementioned engraving, Introduction of the Old World to the New World or Pocahontas Presented at Court. the $5,000 interest-bearing note (H1436-1440) issued under the Act of July 17, 1861, bears a Charles Burt engraving of America exchanging glances with an eagle. feathers in America's hair were used as a symbolic crown, although female indians did not actually wear feath- ers. in some tribes, male indians wore feathers only on special occasions. the use of feathers as a headdress is a license that was taken by european artists, a practice followed by American artists. in The American Image as the Indian Princess, 1765-1783 (the Winterhur portfolio ii), e. mcClung fleming wrote, “the American image is the indian princess of the American colonies can perhaps best be understood in terms of three overlapping themes which are found in the allegorical situa- tions in which she is depicted. these are her daughter-mother relationship to Britannia, her pursuit of liberty, and her command of the strategic factor of overseas trade.” if you receive pleasure by just looking at beautifully- designed paper money, you will enjoy these vignettes of America. they are a major contribution to works of art on paper money. Reprinted with permission from The Numismatist October 1994 www.money.org
A Pr imer for Col lectors BY GENE HESSLER THE BUCK Starts Here Paper Money • September/October 2012 • Whole No. 281 375 WANT ADS WORK FOR YOU We could all use a few extra bucks. Money Mart ads can help you sell duplicates, advertise wants, increase your collection, and 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 above -- 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) ______________________________ ___________________________________ ___________________________________ $$ money mart Paper Money will accept classified advertising on a basis of 15¢ 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 abbre- viations, 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 contribution 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! CHINA CURRENCY BUYER!, 1853 thrugh 1956. Singles to Packs. $2 to $2,000 notes wanted. All singles, groups, packs & accumulations needed. Package securely with your best price or just ship for our FAST Top Offer! Send to G. Rush Numi, P.O. Box 470605, San Francisco, CA 94147. Contact Goldrushnumi@aol.com. Full-Time Numismatists since 1985. Member ANA, FUN, IBNS, FSNC, SPMC (285) WANTED: 1778 NORTH CAROLINA $40. Free Speech. Obsolete: Wheatland Furnace. Notgeld: 1922 Chemnitz 5 Mark. N.d. Magdeburg 50 Mark (Sozialisierungs). Kenneth Casebeer, (828) 277-1779; Casebeer @law.miami.edu (283) WANTED 1862 Private Scrip Notes with Jefferson Davis in Circle printed in Memphis. Send photocopies. Frank Freeman, Box 163, Monrovia, MD 21770. (281) WANTED: 1790s FIRST BANK OF THE UNITED STATES. Kenneth Casebeer, (828) 277-1779; Casebeer @law.miami.edu (284) WRITINg A NUMISMATIC BOOK? I can help you with all facets of bring- ing your manuscript to publication. Proven track record for 40 years. Create a legacy worthy of your efforts. Contact Fred Reed fred@spmc.org (282) WANTED: Notes from the State Bank of Indiana, Bank of the State of Indiana, and related documents, reports, and other items. Write with description (include photocopy if possible) first. Wendell Wolka, PO Box 1211, Greenwood, IN 46142 (282) WANTED: Material from Whitehall, NY. Obsoletes, Nationals, Scrip, etc. Jeff Sullivan, P.O. Box 902, Manchester, MO 63011 (A) WANTED: charters #769 Whitinsville, Mass., #1022 Uxbridge, Mass.; #1385 Tolland, Conn.; national bank notes and obsolete currency contact: Terry Jackson, P.O. Box 783, Tolland, CT 06084-0783 email: Terry.Jackson@comcast.net (286) HAWAII KINgDOM AND REPUBLIC CURRENCY, proofs, and related paper. Please offer. Thank you. jimscoins@sbcglobal.net, 608-233-2118, James Essence, 702 N. Midvale Blvd B-2, Madison, WI 53705 (278) BUYINg COUNTERFEIT DETECTORS: Heath, Hodges, Foote, Ormsby, Bond Detectors, Bank Note Reporters, Autograph Detectors, Related Receipts and Sales material, Naramore, and more. I will pay a strong mar- ket price for items need. Michael Sullivan, POB 10349, Fayetteville, AR 72703 or numisbookmjs@gmail.com (284) PAPER MONEY BACK ISSUES NEEDED: Need Paper Money issues Vol. 31, no. 5 (1992), Vol. 32, no. 1 (1993), and Vol. 43, no. 4 (2004). PRE- MIUM PRICE PAID FOR CRISP NEW COPIES. Michael Sullivan, POB 10349, Fayetteville, AR 72703 or numisbookmjs@gmail.com (280) AR 72703 or numisbookmjs@gmail.com vIRgINIA NATIONAL BANK NOTES FOR SALE -- For list, contact jameslbecknerjr@gmail.com (285) You can place YOUR paper money ad here inexpensively
ColleCtor, AutHor, promoter, All roundgood guy. our editor is all of those things. He is also a good looking young guy. i am quite sure of that. i know because at the memphis show--as at many other events –several other people confused me with him! salesman. did i mention that fred reed is also a very good salesman? Yes, indeed he is. We had an impromptu editorial meeting at memphis over a cup of coffee on the bourse floor. After pleasantries, he brought up an email exchange that we had a few months ago about me writing a column for Paper Money. the long and short of it is that here i am, your new humble correspondent. fred and i have known each other for many years. We first met at a spmC banquet event at an AnA convention in the 1975. We found ourselves seated next to each other at the same table with Grover Criswell and some other well-known collectors whose names i cannot remember. fred invited me to comment on just about anything related to paper money collecting. Wow, what an invitation! to me there is not much difference among comment, report, and tell. i expect so do some of each. i think that i am a bit different from other columnists and contributors to PM. Well, actually, i know that i am different. my original paper money love as many of you know is military payment certificates, and over the past forty plus years i have had plenty of great experiences in paper money and met many great people. i expect to share many of those experi- ences with you. for this first install- ment, i want to write about philippine viCtorY notes. this fascinating series of notes is of particular interest right now because of the sale of the Greg pineda collection by lyn Knight recently at memphis. pineda has been a collector of all things philippines for many years. As you would expect in a situation like this, his col- lection included great items from the World War ii years. front and center among these issues are the viCtorY notes produced Paper Money • September/October 2012 • Whole No. 281376 Yep, Here We Are - tHe odd Couple. fred reedput the arm on me to write a column also, to be run next door to fred schwan's. from here on, if i mention "fred," it's the mpC collector to whom i am referring, not the Civil War specialist. fred introduced himself a bit in his leadoff column, so i suppose i ought to also. i don't recall where i first met fred reed, but i first met fred schwan over the phone when i lived in seattle in the '70s. He tells (embellishes) the story better than i, so i'll let him cover that call sometime. We first met face to face when i took the 4th rotC region shooting teams to Camp perry in 1974. during the week between the service rifle matches and the pistol matches, we had no rotC shoot- ers participating - i took leave for that week and spent it with fred. He was teaching rotC at Bowling Green state university (ohio) at that time - it was an easy drive from Camp perry to visit him. We have been in contact most weeks since. numismatically i started with world paper money, then expanded into coins, then specialized in places i had lived (north Africa and the far east), eventually settling on the com- plete numismatics of Japan. When i had pretty much conquered that field (to the extent that i could afford to), i sold those col- lections over the years 1991-2005, keeping all of the counter- feits i had collected (there were many related to Japan in WWii). that formed the basis of a general worldwide collection of counterfeit paper money, which i continue to pursue. Which brings me to this month's subject - counter- feits of the viCto- rY notes that fred talked about in his column. there are many reasons for c o u n t e r f e i t i n g paper money, some of which do not involve getting over on your fellow man. But in the case of the viCtorY notes, all the fakes i am aware of were prepared for that purpose. such deceit can be perpetrated in two time frames - while the notes are cir- culating, or later when they are being acquired by collectors. U n c o u p l e d: Paper Money’s Odd Couple Continued opposite . . . Continued opposite . . . Philippines VICTORY notes & fakes Fred Schwan Joseph E. Boling Genuine Philippines VICTORY star note. Counterfeit VICTORY note; notice the serial number font. for the liberation of the philippines from Japanese occupation. since the prewar money of the philippines had been pro- duced by the Bureau of engraving and printing, it was a relative- ly easy matter for the Bureau to produce an issue for the 1944 liberation of the philippines from Japanese occupation. the result was very interesting. treasury certificates were in circula- tion before the Japanese so the Bureau created a new issue of treasury certificates. the most obvious difference from the pre- war issues was the addition of a large, bold viCtorY to the back of each note. viCtorY was also included on the face of each note, but in small and unobtrusive print. in a very interest- ing move, the issue was named viCtorY series no. 66. theories abound, but no one knows the significance of 66. eight denominations were issued through 500 pesos. As one would expect, the highest denomination is the scarcest. more importantly, one could make a career of collecting viCtorY series 66! three different signature combinations were used creating fifteen different varieties. then of course there were replacements! that makes thirty different pieces and at least two of the replacements are not known in any collection (500 pesos naturally). But wait! there is more. After the war the notes were overprinted for use by the Central Bank of the philippines. the overprints appear on the back of the note. that doubles a theoretical collection to sixty. You knew that there would be more and there is. the overprint appears in three different varieties! fortunately, these varieties only appear on some of the denominations. if i have it right, there are forty possible varieties making the final total seventy for a complete viCtorY note collection. even if all of these were produced (some of the stars are in doubt), certainly ten or so do not exist in any collection. that is the kind of situation that attracts some collectors and repulses others. Greg pineda had a robust, if not complete, collection of viCtorY notes. the highlight was all three signature combina- tions of the 500 peso note. As you could imagine these-–and just about everything else–brought high prices. the pineda auction catalog will be an important reference for collectors for a very long time. if you do not have a copy, i suggest that you get one for your library. the catalog was prepared by neil and Joel shafer for lyn Knight. not by coincidence, by far the best refer- ence on the viCtorY notes is by neil shafer. it is A Guide Book of Philippine Paper Money. it is a really good book. now for the surprising part. it was published in 1964. it is by far the oldest book that i still use routinely. pCf (philippine Collectors forum) is an innovative group of collectors who love collecting everything philippine. they meet annually at the AnA convention and occasionally elsewhere to celebrate their speciality. their meetings are different–very different. they meet for four hours at a time! the pCf met at memphis in recognition of the pineda col- lection sale. Greg pineda was the main speaker. Greg started his presentation explaining why he decided to sell his collection. the part that i liked best was his description of what his wife said to him after being told his decision. she asked: "Are we out of money?" "Are you on drugs?" "did you make someone pregnant?" He denied all of these inquiries, but simply felt that it was time to sell. in general i believe that the pineda plan of selling a collection while the collector can supervise the sale is wise. the flip side is that selling a collection can be like selling our chil- dren. i can add one bit of more or less original information on viCtorY notes. in the 1970s when i first became interested in them, i became a penpal with Guy davis, a collector in the philippines. first he reported to me then provided a photograph of a very special viCtorY note. it is a 500 peso star! unfortunately, Guy died more than a few years ago. His collec- tion was sold in the philippines. it is a pleasure to provide this image of this great replacement in honor of a great collector. v Paper Money • September/October 2012 • Whole No. 281 377 When the viCtorY notes were introduced, pre-war emis- sions of the philippine government were banned (they were not demonetized until much later, but you had to justify your hold- ings if you wanted to convert old notes to current notes). As fred mentioned, the viCtorY markings on the faces of the new notes were not very large. the overprints on the backs of the notes were quite conspicuous. so enterprising filipinos who had pre-war notes in hand faked the overprints on the backs of the notes. no attempt was made to change the original series numbers on the faces to the new "series 66," or to add the word viCtorY to the faces. users were expected to be looking for the conspicuous overprint on the back for determining a note's legitimacy, and that's where the fakers did their work. much later, we find replicas of the series 66 notes being made to sell to collectors - decades after they were demonetized in the philippines. these copies are made with inkjet printers and heavily distressed, to make them appear to have been legiti- mately used. But rather than simply copy an existing note, at least some of the fakers are getting creative. they are changing the serial numbers, using a font that never existed in the wild, and in an even more bizarre twist, are replacing the signature of president osmena with that of Harry truman - who never signed philippine notes at all. see the accompanying illustra- tions. unless you share my penchant for tomfoolery, steer clear of these concoctions.
Top: genuine 20 pesos note; Bottom: modern counterfeit. Closeup of Harry S Truman facsimile signature. Boling continued . . . Schwan continued . . . Paper Money • September/October 2012 • Whole No. 281378 Aunique ConverGenCe of CirCumstAnCes AlloWs us toidentify make-up replacement national Bank note sheets printed duringthe period between late 1903 and 1915. this opportunity came about through a change in the fonts used to print the serial numbers on national Bank note sheets that occurred at the beginning of september 1903. What happened was that the fonts used in the sealing and num- bering overprinting presses were changed, but the old fonts continued to be used on the machines used to prepare makeup sheets. the differences in the character of the fonts allow us to distinguish between regular and replacement notes. See Figures 1 and 2. the old fonts were replaced by the new in the make-up machines around 1915, so thereafter that diagnostic for spotting replacement notes vanishes. Consequently, none have been recognized on series of 1902 blue seal plain backs. the purposes of this article are to explain what we now know about the replacement notes and how you can spot them. our information about the machines used to overprint both the regular and replacement serial numbers is lack- ing so we will make clear what we do and don’t know about these machines. Make-Up Sheets there were four situations when the Bureau of engraving and printing employed make-up sheets in the large size series. three of these involved the substi- tution of make-ups for misprinted sheets. the make-ups carried identical serial numbers as found on the defectives in the cases of all the replacements. (1) national Bank note sheets found to be misprinted during the manufac- turing process were replaced with make-up sheets bearing the same serial numbers. (2) national Bank note sheets found to be defective after delivery to the Comptroller of the Currency were rejected by the Comptroller’s office, and the Bep replaced them with make-up sheets bearing the same serial numbers. this practice was discontinued during the series of 1902 blue seal plain back issues. thereafter the defective sheets were simply canceled by the Comptroller’s clerks so the sequences of sheets sent to the banks had telltale gaps in the serial number sequence. (3) make-up sheets with identical serial numbers were used to replace all misprinted type note sheets found during the manufacturing process prior to the The Paper Column By R. Shawn Hewitt & Peter Huntoon identification of series of 1882 and 1902 national Bank replacement notes printed in the 1903-1915 period Paper Money • September/October 2012 • Whole No. 281 379 introduction of star notes for the heavily used denominations prior to 1910, and for low-production, high-denomination defectives thereafter (murray, tauber and Conklin, 1996). (4) the make-up sheet process was employed to number type notes with 1-, 2- and 3-digit serial numbers. this was the only known use of make-up sheets not related to replacing misprints. only items 1 and 2, which pertain to national Bank notes, are the concerns of this article. there are ambiguities involved with the production of type note replacements that preclude drawing inferences between what happened with them as contrasted to national Bank notes during the same era. defective national Bank note sheets found during the manufacturing process were replaced with make-up sheets. they were made to preserve the integrity of serial number sequences and maintain counts for accounting purposes. simek and Huntoon (2012) provide considerable information about the production of make-up sheets for the series of 1929 national Bank notes. extra sheets were printed with everything except serial numbers during each print run. the extras were used as necessary to replace defectives caught by inspectors. the serial numbers on the defect sheets were reproduced on the make-ups by operatives using paging machines. A paging machine is a device that has a serial number register in which the operator sets the desired number along with appropriate prefix and suffix letters and affixes it to the work. the paging machines used in the production of small size nationals applied one serial number at a time. in the case of type 2 notes, both the Figure 1. This attractive red seal from Los Angeles is particularly special because it is from a 10-10-10-20 make-up sheet substituted for a misprinted sheet during the manufacturing process in 1904. The distinguishing feature is the font used to print the sheet serial numbers. The note is from the first in a 600-sheet printing bearing bank sheet serials 3201-3800. (Photo courtesy of Heritage Auction Archives) Figure 2. Comparison between the old style (top) and new style (bottom) serial number fonts found on 1903-1915 vintage National Bank Notes. The old style font was used to print make-up replacement sheets to replace misprints. The differences between digits 2, 3 and 4 are especially pronounced. Notice the droopy 2, the particularly long diagonal sloping line in the 4, and the exaggerated cross hatch in the 3. Minor differences also are apparent between digits 1, 5, 6, 7 and 9. Paper Money • September/October 2012 • Whole No. 281380 Paper Money • September/October 2012 • Whole No. 281 381 serial and charter numbers were applied simultaneously. the replacement numbers on series of 1929 notes typically look rubber stamped and exhibit alignment prob- lems. We were fortunate to find a scan of an uncut sheet of series of 1902 red seal make-up replacement notes, the moravia sheet illustrated here as Figure 3. the serial numbers are precisely placed and perfectly formed on it in stark contrast to the series of 1929 replacements. this quality is characteristic of all the large size replacement notes that we have identified. We haven’t obtained documentation pertaining to the character of the machines used to make the large size replacement sheets. two seemingly contradicto- ry facts have emerged from our observations. the accurate quality of the placements of the numbers and their crispness on the large size nationals implies that the replacement sheets were made up on machines that numbered all the subjects on a sheet at once. this sounds like a small hand-operated proving press. However, we located fabulous orders in the correspondence files of the direc- tor of the Bureau of engraving and printing in the national Archives that indicate that the numbers were indeed applied by paging machines identical to or similar to those used for the series of 1929 replacements. An example is illustrated here as Figure 5. notice that this is an order from the Comptroller of the Currency request- ing a replacement for a misprint that one of his clerks discovered. the letter reached Bep director ralph, who in turn bumped it down through the line until it and the makeup sheet that it called for arrived at the num- bering division. the operative dialed in the appropriate numbers called for and test- ed them on the most convenient piece of paper available before affixing them to the make-up sheet. the spectacular results are perfectly printed examples of the required serial numbers on the order! their independent placements on the order are identical to what is expected from a paging machine where the numbers are applied one at a time. furthermore, they are as perfectly printed as the serial numbers found on both regular notes. it may well be that simple paging machines were used to apply the numbers one at a time to the large size replacement sheets, just as was done later in the series of 1929. However, the operatives were able to somehow align the numbers with greater preci- sion and the numbering registers were capable of producing crisper prints. Fonts prior to september 1903, the Bureau was using serial number wheels for national Bank notes that used the distinctive font shown in the top line on Figure 2. the identical font was used on the make-up sheets. some of the numerals in the font are particularly distinctive. for example, notice the droopy 2 and the long sloping diagonal on the 4. the new style numbers shown in the bottom line of Figure 2 were substitut- ed in the sealing and serial numbering presses beginning in september 1903. We don’t know if totally new overprinting presses were purchased, if new serial number- ing registers were substituted, or if the individual numbering wheels within the regis- ters were replaced. regardless, the data from observed notes reveals that the changeover occurred over a period of at least a couple of months, so it appears that the changeover processes involved sequentially replacing or renovating the available presses. Wonderful for collectors is the fact that the numbering wheels in the make- up machines were left as was. the result was that the make-up sheets made after late 1903 continued to sport the old style numbers and their use persisted to about 1915, Figure 3 (opposite). This spectacular number 1 sheet from Moravia, New York, is a make-up replacement, easily revealed by the distinctive 2 and 4 in the treasury serial number. Number 1 sheets were at the top of their piles, so were the sheets most commonly damaged and replaced of all serial numbers. Notice that the serial numbers are perfectly formed and perfectly aligned within the sheet. These numbers were not applied by the less precise paging machines used to make up Series of 1929 replacement sheets. (Photo courtesy of Heritage Auction Archives) Paper Money • September/October 2012 • Whole No. 281382 when they too were replaced. the old style font provides us with a definitive means for identifying make- up notes printed during the 1903-1915 period. the key in doing so is to determine if a note in question was printed during the critical window. We must caution that our 1915 cutoff for the use of the old font is based solely on the fact that we have not seen a series of 1902 blue seal plain back with the variety. if one should turn up, it will be necessary to extend the 1903-1915 range accordingly. Diagnostics national Bank notes meeting the following criteria are replacement notes printed during the september 1903-1915 period: 1. the note must have serial numbers of the old style shown on Figure 2. 2. the note must be a series of 1882 brown back or date back, or 1902 red seal or date back. 3. the series of 1882 brown backs and series of 1902 red seals must have serial numbers greater than the following: 1882 Brown Backs 1902 Red Seals 5-5-5-5 H705403H A530328 10-10-10-10 all qualify all qualify 10-10-10-20 e457219e B241777 50-100 B468523 A92661 Figure 4. Significant pair of St. Louis brown back $10s from the same press run from the same plate position wherein the top note bears replacement sheet serial numbers and the bottom note bears conventional numbers. Such an occurrence is possible only if the sheet con- taining the top note was a substitute. Notice the distinctive droopy 2's in the Treasury serial number and exaggerated cross bar on the 3 in the bank serial number on the top note. (Photos courtesy of Heritage Auction Archives) Paper Money • September/October 2012 • Whole No. 281 383 Figure 5. Order from Deputy Comptroller of the Currency Fowler to BEP Director Ralph requesting that a Series of 1902 date back 10-10- 10-20 make-up sheet be prepared to replace a misprint found by his clerks. Notice the distinctive droopy 2 in the Treasury number and the 3s with exaggerated cross hatch in both numbers that were stamped on the order. It wasn’t long after this that the distinctive fonts used to make serial numbers on replacement sheets were replaced. Paper Money • September/October 2012 • Whole No. 281384 the serial numbers listed above may be adjusted as new observations are made. Discovery the discovery of how to distinguish between make-up and regular produc- tion notes outlined here is a great tale of numismatic deductive sleuth work worth telling. Co-author Hewitt started to recognize that two different fonts of numbers were used on series of 1902 red seals. the older font appeared on all of the earliest notes in the series, but then appeared rather randomly later on. He then wondered if the older font might somehow have been used exclusively on make-up notes during the rest of the series. At first he attempted to find examples of notes printed after late 1903 with old style numbers. He knew from work on the series of 1929 nationals that the most replaced sheets were the number 1 sheets or first sheets in successive printings because those sheets were most susceptible to damage. He focused on serial number 1 series of 1902 red seals and on notes with serial numbers that looked like first numbers in successive print runs. this yielded a surprising number of examples and gave him confidence that he was indeed looking at replacements. His was no small effort. He ground through images of some 4,000 notes in auction catalogs and various auction archives, especially the Heritage Auction Archives and the national Currency foundation census websites. the search tools available on the national Currency foundation website made the study possible. A critical test had to be passed. Hewitt had to find pairs of notes from both the same serial numbering press run and the same plate position, wherein the serial numbers on the respective notes would exhibit different fonts. the treasury serial numbers on such a pair would be from the same set and track the bank numbers. such a pair would prove conclusively that a substitution had been made. two such pairs have been identified. A spectacular uncirculated series of 1882 example from st. louis is shown on Figure 4. the other is a pair of series of 1882 brown back $5s from the first national Bank of donora, pennsylvania (charter #5835) with serials t45064t-1-A and t45385t-322-A, where the number 1 is the replacement. the donora notes can be viewed on the national Currency foundation website. Perspective Collectors have long recognized series of 1929 replacement notes, but have been frustrated by not being able to readily identify their counterparts in the large size series. We are chipping away at solving that problem by at least providing a pro- tocol for recognizing the ones made during the 1903-1915 period. References Cited Bureau of engraving and printing, 1914, Central correspondence files of the Bureau of engraving and printing, record Group 318, locator 450/79/10/5 box 13, national currency, defective: u. s. national Archives, College park, md Heritage Auction Archives website, www.ha.com. murray, douglas d., michael tauber and tom Conklin. The Comprehensive Catalog of United States Large Size Star Notes. port Clinton, oH: 1996, 128 p. national Currency foundation website, www.nbncenus.com. simek, James A., and peter Huntoon. “series of 1929 national Bank replacement notes,” Paper Money, v. 51 (mar-Apr 2012), p. 97-108.
Paper Money • September/October 2012 • Whole No. 281 385 Do color ads in Paper Money Really Work? Just Did! . . . Gotcha Isn’t it time that YOU advertised in Paper Money? 386 Paper Money • September/October 2012 • Whole No. 281 spmC memBers Were seen All over tHe 36tH mempHis internAtionAl pAper moneYshow staged by proprietor lyn Knight, show chairman doug davis and associates. lensmen John Wilson anddavid Harper captured some of the highlights of the show and shared their images with Paper Money. Wethank them for doing so. the society activities at the show kicked off early friday morning, the first full day of the show at the annual spmC breakfast and tom Bain charity raffle. president mark Anderson and treasurer Bob moon brought the 80+ attendees up-to-date on the state of the society at the affair. most of the society awards were also presented there. the society’s nathan Gold lifetime Achievement Award honored Boston dealer and friend of spmC tom denly. president Anderson and awards chairman and past-president Benny Bolin caught up with denly on the bourse floor to make the award. our founders Award honored r. shawn Hewitt for his effective leadership of the overhaul of the official spmC website, www.spmc.org. the nathan Goldstein Award for recruiting new members to spmC honored Jason Bradford’s efforts at pCGs. Bradford, who is president of pCGs and vice president laura Kessler attended the breakfast to receive the honor. spmC’s forrest daniel literary Award of excellence named pierre fricke. presidential Awards were announced for Bob schreiner, fred reed, frank Clark, Karl Kabelac, Wendell Wolka, Benny Bolin, several of whom were in attendance at the breakfast. spmC’s Wismer Award for the “Book of the Year”honored robert Azpiazu and his Collectors Guide to Modern Federal Reserve Notes, Series 1963-2009, published by Whitman publishing, llC. Honorable mentions in the category were awarded to fred schwan, larry smulczenski, James downey, mark Watson for WWII U.S. Savings Bonds and Stamps; and, dick dunn, dan freeland, and Harold Kroll for WWII Finance: Canada and Newfoundland. Both monographs were published by Bnr press. the dr. Glenn Jackson Award for the best article on specimens, vignettes, proofs, etc. was awarded to Joe Gaines, Jr. first place Article Awards tapped fred reed, tom Carson, George tremmel, Crutch Williams, dominique poirier, lee lofthus, peter Huntoon, C. John ferreri, eugene rosner, Bernard loeb. second place Article Awards named paul Herbert, steve feller, loren Gatch, q. david Bowers, Bill Gunther, r. logan talks. the “Best in show” exhibit honored mack martin for his “Georgia states issue notes.” Honorable mention exhibits went to michael sullivan for a display of Counterfeit detectors, and Jim simek for small size replacement notes.
SPMC members participate in 36th Memphis paper money show Photos by John & Nancy Wilson and David Harper Above from left: Benny Bolin, Nathan Gold win- ner Tom Denly and Mark Anderson. Left: Robert Azpiazu, our D.C. Wismer Award winner. Paper Money • September/October 2012 • Whole No. 281 387 Above from left: John Wilson, Wendell Wolka and Mark Anderson conducted the Tom Bain Raffle. At right (forground) Frank Clark, Mart Delger and Bob Moon relax during the raffle. Below (foreground) Mike Crabb, Jason Bradford and Laura Kessler keep track of their raffle tickets at the raffle. Below right, Wendell Wolka and associates award a raffle winner his rare prize. Paper Money • September/October 2012 • Whole No. 281388 Left: Winners present at the SPMC breakfast show off their haul. Front row (L-R): R. Shawn Hewitt, Pierre Fricke, Laura Kessler, Steve Feller; back row (L- R) President Mark Anderson, Frank Clark, Fred Reed, Dan Freeland, Larry Smulczenski. Below: Mark Anderson and Stephen Taylor “Best of Show” exhibit winner Mack Martin. Above: Mark Anderson and James Simek. At right: The hardware available to exhibitors at the recent Memphis paper money show. Paper Money • September/October 2012 • Whole No. 281 389 800.458.4646 West Coast Office 800.566.2580 East Coast Office 1063 McGaw Avenue Ste 100, CA 92614 • 949.253.0916 123 West 57th Street, New York, NY 10019 • 212.582.2580 P.O. Box 1804, Wolfeboro, NH 03894 • 603.569.0823 Email: info@stacksbowers.com • Website: www.stacksbowers.com SBG PM 11.22.11 We Invite You to Consign U.S. AND WORLD COINS AND CURRENCY Date Auction Consignment Deadline Jan 6-7, 2012 Stack’s Bowers and Ponterio Closed Official N.Y.I.N.C. Auction New York, NY World Coins and Paper Money Jan 25-27 2012 Stack’s Bowers Galleries Closed New York Americana Sale New York, NY U.S. Coins and Currency Mar 19-24, 2012 Stack’s Bowers Galleries January 30, 2012 Official Auction of the Whitman Coin & Collectibles Baltimore Expo Baltimore, MD U.S. Coins and Currency Apr 2-4, 2012 Stack’s Bowers and Ponterio January 9, 2012 Hong Kong Auction of Chinese and Asian Coins & Currency Hong Kong Chinese and Asian Coins & Currency Aug 1-11 2012 Stack’s Bowers Galleries June 8, 2012 Official Auctions for the ANA World’s Fair of Money Philadelphia, PA U.S. Coins and Currency Aug 1-11 2012 Stack’s Bowers and Ponterio May 14, 2012 Official Auctions for the ANA World’s Fair of Money Philadelphia, PA World Coins and Paper Money Aug 20-22, 2012 Stack’s Bowers and Ponterio May 21, 2012 Hong Kong Auction of Chinese and Asian Coins & Currency Hong Kong Chinese and Asian Coins & Currency Sept 18-22, 2012 Stack’s Bowers Galleries July 23, 2012 Philadelphia Americana Sale Philadelphia, PA U.S. Coins and Currency We would like to sell your coins and currency to the highest bidders in an upcoming Stack’s Bowers Galleries auction! Stack’s Bowers Galleries Upcoming Auction Schedule We also buy and sell direct – please call for information. Call today to find out how you can maximize your consignment potential in an upcoming Stack’s Bowers Galleries auction. Paper Money • September/October 2012 • Whole No. 281390 Above: Participants in the 9th Annual SPMC Authors Forum included (front row L-R) Fred Reed, Carlson Chambliss, Pierre Fricke; (back row L-R) Mark Anderson, Wendell Wolka and Steve Feller. Right: Educational speaker Joe Boling and cinematographer David Lisot discuss Boling’s pre- sentation on government-authorized counterfeit- ing. Below right: Educational forum organizer Peter Huntoon and SPMC forum speaker Wendell Wolka mug for the camera lens. Below SPMC volunteers man the Society’s table: Front row L-R are Judith Murphy, Claud Murphy, Ron Horstman; back row L-R Mark Anderson, Bob Moon, Ann Moriarty and Wendell Wolka. Paper Money • September/October 2012 • Whole No. 281 391 Paper Money • September/October 2012 • Whole No. 281392 iHAve Been ABle to ConClusivelY doCumentfrom serial numbering press room records three instances of overprinting of star and regular serial numbers on the same sheets during the 12-subject small size note era. this finding puts to rest speculation by astute serial number afficionados as to whether this ever occurred during the early small note era. it nicely explains how peculiar notes, especially some very low number notes, carry what appear to be plate posi- tion letters from the wrong side of the sheet. peter Huntoon, knowing my interest in serial number ranges on early small size notes, photocopied several pages from a serial number log he found at the Bureau of engraving and printing Historical resource Center. the records contained dated press runs for regular notes, and a summary of monthly deliveries of star notes. unfortunately the serial numbers on the star notes were not recorded, just the number of sheets printed. in some instances the plate position letters were carefully recorded next to the regular serial numbers, and in one case it was specifically noted that stars were on the other side. in the case where stars were specifically noted as printed on the other side, the affected print run was the only one of its kind for that type that month. i then checked the monthly record of star notes and discovered that there was an exact match in terms of the total number printed. the circumstance of this printing was unambiguous, and nicely explains why the plate letter assignments were so carefully recorded. they printed the star notes alongside regular notes during this particular press run. Armed with this insight, i then looked for other orders where: (1) all the notes from a given printing were assigned to one side of the sheets and (2) where such an assignment occurred only once during a given month for a particu- lar type note. i then attempted to match the sheet total for that special printing to an equal sheet count for star notes of the same type printed that same month. Table 1 lists the fruits of this painstaking search in the data set available to me. there were two additional unambiguous hits. Setting Up Numbering Jobs the unit of accountability at the Bep is number of sheets, not notes. during the period i have been studying a “sheet” means 12 notes, but not necessarily on the same piece of paper! small note orders usually were listed as multiples of thou- sands of sheets, and the range of serial numbers to be applied was listed next to the sheet counts. the standard practice was to simply divide the total by two and assign the first half of the serial numbers to the A-f side of the sheets, and the second half to the G-l side. numbering of the respective half sheets was consecutive down the sheet. let’s say the order was for 3,000 sheets and the serial num- bers were A00000001A-A00036000A. the first sheet would have the following plate letters and serial numbers: A A00000001A G A00018001A B A00000002A H A00018002A C A00000003A i A00018003A d A00000004A J A00018004A e A00000005A K A00018005A f A00000006A l A00018006A the most interesting press run on Table 1 was the one for $10 silver Certificates logging in August 28, 1934. the total number of sheets to be printed was 15,000 sheets of regular Regular and Star Notes Printed on the Same 12-Subject Sheets By Jamie Yakes Figure 1. The plate letter on this number 1 star note is G, the top note on the right side of the sheet. The expected plate position is A. They were printing regular notes on the left side of the sheets when this star note was printed. (Photo courtesy of National Numismatic Collection, Smithsonian Institution, Washington, DC) Paper Money • September/October 2012 • Whole No. 281 393 Lyn Knight Currency Auct ions If you are buying notes... You’ll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful “grand format” catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: Great Commission Rates Cash Advances Expert Cataloging Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - support@lynknight.c om Whether you’re buying or selling, visit our website: www.lynknight.com Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 Lyn Knight Currency Auctions Deal with the Leading Auction Company in United States Currency notes and 3,000 sheets of stars, yielding 18,000 sheets total. serials A01392001A-A01428000A were specifically ear- marked for positions G-l. the total number of serials involved is 36,000 notes. using the Bep unit of measure, this represents 3,000 12-subject sheet-equivalents. the record also specified that 3,000 sheet-equivalents of star notes were to be printed on positions A-f. the total between the regular and star notes is now 6,000 sheet-equivalents. the rest of the order was to be printed normally. that is, serials A01428001A-A01572000A, a total of 144,000 notes, were to be split equally between the two sides of the sheets. these account for the final 12,000 sheets. thus the first third of the order was printed with the stars on the left and regular notes on the right. the last two-thirds was printed normally with the remaining regular notes split between the two halves. Serial Numbering Presses i found documentation in the Bep correspondence files in the national Archives that explains exactly how the 12-subject serial numbering presses worked. the following is distilled from a november 18, 1933, letter that Bep director Alvin W. Hill sent to then retired George u. rose, who formerly was superin- tendent of the engraving division, and who had asked Hill how the new numbering machines worked. there are seventeen numbering, sealing and sepa- rating presses in use in the bureau, each machine hav- ing a capacity of 4200 sheets of twelve notes each per hour. each press is equipped with twenty-four number- ing heads, which heads contain eight figure and two letter wheels. the presses are also equipped with twelve seals. the sheet containing twelve notes is automatically fed, registered, numbered, sealed, and separated into twelve individual notes, which are collated in numeri- cal sequence. immediately after each sheet is numbered and sealed, it is slit into two equal parts, containing six notes each. each half sheet is delivered to opposite sides of the press, where it passes through five slitting knives and is reduced to individual notes, which are conveyed to the collator and delivered to the receiver, who inspects and places them in packages of 100 notes each. incidentally, when they used the presses to number uncut sheets, they simply removed the vertical slitter knife and disen- gaged the horizontal knives. Implication of these Findings occasionally seemingly wrong plate letters appear on notes. A great example is the plate letter G on the $5 series of 1934 new York B00000001* illustrated on Figure 1. We now know how this happened. on december 23, 1935, an order for 2,000 sheet-equivalents of star notes (24,000 notes) were numbered. All were numbered on the right side of the sheets on positions G through l. they simultaneously printed BA notes on the left halves. undoubtedly the regular notes also began with serial 1, so B00000001A landed on the A position as expected. serial number afficionados use census data to deduce the size of print runs for popular type notes such as the various Hawaii printings. the scenario presented here illustrates that these calculations should be undertaken with great care, especial- ly if after deducing the size of a run the plate position letters don’t jibe with those on observed notes from the run! the prob- lem may be dual regular/star printings in such cases! Uncut Sheet Orders treasury officials occasionally ordered small numbers of uncut sheets of regular notes, usually at the startup of new series. the numbering of the notes within the sheets progressed in sequential order. Consequently, the low numbers alternate back and forth between the A-f and G-l plate positions, quite differ- ently than the situation described in this article pertaining to regular production runs. See Figure 2. Paper Money • September/October 2012 • Whole No. 281394 Table 1. Documented serial numbering press runs where regular and star serial numbers were printed on the same sheets. Sheets Notes Positions A-F Positions G-L $10 Silver Certificates Aug 28, 1934:a Part 1 6,000 72,000 star serials not recorded A01392001A-A01428000A Part 2 12,000 144,000 A01428001A-A01500000A A01500001A-A01572000A $10 Silver Certificates Dec 10, 1936: 10,000 120,000 star serials not recorded A20616001A-A20676001A $2 Legal Tender Notes Jan 17, 1936: 10,000 120,000 star serials not recorded B32544001A-B32604000A a. The order called for 3,000 sheet-equivalents of stars and 15,000 sheet-equivalents of regular notes, so the press run was split into two parts to accommodate the large number of regular notes. Paper Money • September/October 2012 • Whole No. 281 395 Figure 2. Sheet orders were handled differently than regular production runs in that the notes were numbered sequentially through all twelve subjects. Consequently the low serial numbers alternate back and forth through the A-F and G-L plate positions, instead of being confined to one or the other side of the sheet. (Photo courtesy of Heritage Auction Archives)
tHe reCentlY releAsed referenCe,Histo ry o f Co llec ting – Confederate States o f America Paper Money, Volume 1, 1865 – 1945, by pierre fricke and fred reed is a 340-page, hardbound book with many full color illustrations. the foreword was written by A. Hudson mcdonald. the book has nine chapters, two appendixes, a bibliogra- phy, index, and section about the authors. the refer- ence includes a dvd which we will talk about later. First Chapter, “The Issue of CSA Paper Money.” Collecting started with the first sale of Confederate paper money by W. elliot Woodward in nYC, on december 10, 1865. A $1000 montgomery brought $4.75, and a $500 montgomery, $2.50. the CsA started in early 1861 to create bonds and paper money. ten of the early notes are shown in color. Counterfeiting in the period of 1861-62 and solutions to this problem are discussed. A complete type set of 70 regular issue notes would cost between $150,000 to $500,000. Second Chapter, “The First Collectors, 1865 - 1870s.” our good friend, Grover Criswell (1934-1999), laughingly told us about how he used to light his cigars using CsA notes. if still alive, we don’t think Grover would be doing that today. the early growth of the hobby started to evolve in 1867 with adver- tisements in periodicals and many dealers making buying trips to the south in pursuit of CsA currency and bonds. early collec- tors were r. Alonzo Brock, thomas Addis emmet, who was the first cataloger of CsA currency. John Walter scott, a stamp deal- er, cataloger and numismatist published The Coin Collector’s Journal, Illustrated, commencing in 1875 for 13 volumes. Third Chapter, “Late 1870s and Early 1880s.” the first decade of collecting CsA is labeled as the “hunter/gatherer” phase. dr. William lee (1841-1893) was the first serious cata- loger of CsA currency. His reference The Currency o f The Confederate States of America was published in 1875, but only 30 copies were made. one of the early promoters of CsA curren- cy was John W. Haseltine, who in 1880 was the foremost dealer in CsA currency. raphael prosper thian produced his rare 1876 Confederate Note Album. soon thereafter nYC stamp dealer C.H. Bechtel issued a similar album. CsA currency was so cheap that businesses placed ads on their blank backs. Another good friend of ours, Arlie slabaugh was one of the first to com- prehensively list these ad notes. His Confederate States Paper Money is now in its 13th edition. Fourth Chapter, “More Action in the 1880s.” By the 1880s, CsA material was red hot. Haseltine’s and scott’s marketing practices worked. CsA president Jefferson davis wrote a multi- volume reference in 1881 “in defense of the late war,” and his comments regarding CsA currency are interesting and thought provoking. famous numismatists include W. elliot Woodward, edouard frossard, Charles steigerwalt, and the Chapmans. Fifth Chapter, “John C. Browne.” Browne was one the great- est Confederate currency collectors of all time and had a CsA collection that contained more than 7,000 pieces. part of the Browne collection was sold in 1922 by stan v. Henkels; other parts passed through doug Ball’s and Charlie Affleck’s hands. Sixth Chapter, “Late 1880s-1890s.” An explosion of catalogs led to new discoveries, something desirable for both collectors and dealers. more numismatists are covered such as George massamore, J. thomas scharf, the scott stamp and Coin Co. edouard frossard, Hiram deats, luther B. tuthill, John A. Gill, Benjamin laBree, Charles Barker, lyman low and William p. titcomb. Seventh Chapter, “Early 1900s - Bradbeer Era.” more information on raphael p. thian covers his employment in the Adjutant General’s office (AGo). His work at the AGo “was largely obscure, and little heralded. fortunately in 1944 his son prosper sold many of these original compilations to duke university, where they would be preserved and studied.” in 1901 Yale professor John Christopher schwab published his monumental work. in 1911 discussions were held on what to do with the vast stock- pile of CsA notes at the u. s. treasury. in 1914 Archer m. Huntington donated 2,000 CsA notes to the Ans. William West Bradbeer wrote Confederate and Southern State Currency, which became a hit in 1915. Eighth Chapter, “Government Seizures of 1919.” the com- plete story of this seizure of CsA notes by the secret service (because of fraudulent use), and the involvement of several prominent numismatists and coin clubs is told. the government finally relented and buying and selling of CsA currency contin- ued. We were also unaware of the treasury department’s destruction of $60 million in CsA notes on may 1, 1920. the book also provides information on the War department’s reten- tion of its CsA notes. Ninth Chapter, “The 1920s - Early 1940s.” philatelist August dietz, sr. and his contributions to the understanding of engravers and printers of CsA currency is fully researched and covered along with photos. important individuals included John e. morse, david todd, Wayte raymond, philip Chase, C. G. memminger. d. C. Wismer, B. max mehl and professor Charles W. ramsdell. Appendix A, “Notes on the Richmond Hoard.” the “richmond Hoard,” comprised of 125 bankers boxes full of redeemed CsA currency with 5,500 notes in each box, is dis- cussed by smithsonian Curator dr. richard doty. Appendix B, “CSA Paper Money Type Set.” Criswell type 1 to type 72 are illustrated along with types xx1, xx2 (t-47) and xx3 (t-48). last and certainly not least is the wonderful dvd that is included. the dvd includes pictures of all the type notes with information about them, including census data of rarities. the majority of all early auction catalogues are pictured with all pages and in some cases the prices realized. many checklists are also shown in entirety. fricke blogs are also shown. We applaud pierre and fred for their comprehensive work and dedication on this reference. We think it will be a huge suc- cess in the numismatic hobby. it would be of help to a beginner as well as an advanced expert who collects or deals in CsA notes. We look forward to part two. We highly recommend this fan- tastic reference to everyone who has an interest in the monetary system of the south during the Civil War. the book may be ordered for $50 postpaid through the authors' websites www.csaquotes.com or www.fredwritesright.com.
Paper Money • September/October 2012 • Whole No. 281396 New work of interest to beginners and experts Reviewed by John and Nancy Wilson Paper Money • September/October 2012 • Whole No. 281 397 Big bills may boost morale in troubled economic times As tHe euroZone WritHes, i Am ConfliCtedabout the common currency. i worry what its demise might mean for the world economy. Yet the collector in me delights in the diversity of multiple currencies. one thing the europeans did get right was to print that € 500 note. they knew what they were doing. to compete with the dol- lar as the international currency, they had to offer the world an alternative to the $100 as the preferred stuffer of mattresses. thanks to that, Greek beds are now less lumpy than they would be. But big notes aren’t just about safekeeping. they can be aspirational, too. Back in 1983, for no particular reason i lived in Cologne, Germany, where i paid the rent by working as a security guard at trade shows for the Koelnmesse. my principal duties included (1) smoking incessantly; (2) taking bribes for parking spaces, and (3) making schnapps runs to the liquor store for the older guards. At the end of my first long month of pro- ductive twelve-hour shifts i tore into my pay envelope to find— three 500 d-mArK notes!! i was ecstatic. i danced, then i— spent. Cashiers scowled at me, but my money was good. i felt like a lord. ever since then, i’ve had a thing for big notes. i know, cash facilitates crime. Back in 2010, the British even banned the sale of € 500 notes for that reason. But i still think America deserves more than a measly $100 bill. in uncertain economic times, morale matters. When even the guy ahead of me in line at Walmart pays for his groceries with a C-note, it’s clear our cur- rency has a status problem. We need to rebrand: upgrade to something larger, more internationally impressive. last column i noted that all of 336 $10,000 notes were out- standing. more interesting, perhaps, is that more than 165,000 and 140,000 one-thousand and five-hundred dollar notes, respectively, are still extant. What’s up with that? they all can’t be in collections, or even lost. tony montana (also from 1983!) isn’t snorting coke with them. money launderers seek to reinte- grate cash into the payments system, which would weed out the big notes. so clearly, those discontinued but non-obsolete notes still provide a store of value to people, innocent and guilty, who don’t have any better alternative.
Chump Change Loren Gatch Here’s a trend worth noting A recent trend observed in numismatic publishing deserves calling to your attention. At the recent memphis international paper money show spmC activities, both runners-up to our annual Wismer “Book of the Year” award were nabbed by full color monographs published by Bnr press. in the name of full disclosure Bnr press, owned and oper- ated by fred schwan in port Clinton, oH published my 1994/1995 tome Civil War Encased Stamps, the Issuers and Their Times, and fred and i have been friends for 37 years. However, none of that colors what you are about to read. Bnr press has been engaged in numismatic hobby publish- ing for decades, ever since schwan bought rights to the name from legendary florida paper money dealer Grover Criswell, founder of Bank Note Reporter (a publication founded to aid Grover’s AnA political aspirations in the early 1970s and still very much alive on the hobby scene. i write a monthly column for it now and have for some considerable period of time.) to my understanding, when Grover needed funds he sold the periodical to Austin sheheen and the rights to the Bnr press good will to schwan. since that time fred schwan has pub- lished many redoubtable numismatic classics, including his own works and the Comprehensive Catalog, originally authored by Gene Hessler and now ably manned by Carlson Chambliss. through all the time that i’ve know fred schwan, i always considered him possessed of a very astute hobby mind. He is also the originator of the annual military payment Certificate festivals (fests, if you will). especially insightful have been fred’s observations on numismatic publishing. i’ll cite two. in the early 1980s when iBm and Commodore were lead dogs in word processing technology, he correctly predicted that large books like my encased stamp opus would be publishable as desktop projects. this thoroughly astounded me, but in 1994 came true when my book was first published that way. last year at memphis he correctly described to my col- league pierre fricke and me the physical differences between a book that you read and a book that you consult, and voila the format of our new book on CsA currency collecting was birthed. fred schwan’s newest insight is full color, card covered numismatic monographs. these are magazine-like 48-64 pages in length where use of color actually makes sense. His World War II United States Savings Bonds and Stamps (with larry smulczenski, James downey and mark Watson), and World War II Finance: Canada and Newfoundland by dick dunn, dan freeland, and Harold Kroll just took honorable mention in the spmC book awards. At memphis fred handed me another winner World War II Paper Money and Financial Instruments of Nazi Germany. look for more such works and add them all to your shelves. this is a trend worth following up on.
The Editor’s Notebook Fred L. Reed III Fred@spmc.org Paper Money • September/October 2012 • Whole No. 281398 think again, things could be worse, a whole lot worse this being a presidential election year, remember that no matter how hostile politics may get, it’s been worse. long ago, the vice president of the united states shot and killed the former secretary of the treasury in a duel, and Kentucky senator Henry Clay dueled with a congressman from virginia. president Andrew Jackson was in more duels than you could believe. But for an especially hostile political year, travel back to 1856, which compared to the present looks like a one-eyed oozing, bloody wolf next to Bambi. in that infamous year, a south Carolina congressman pum- meled and brutally attacked a massachusetts senator on the floor of the senate, and an Arkansas congressman beat up new York newspaper man (and future presidential candidate) Horace Greeley on the streets of Washington. on their way to the Capitol one morning a virginia congressman got into a fight with a new York congressman, and James lane (another con- gressman) publicly called illinois senator stephen douglas a coward, dueling words that douglas was some- how able to ignore. A California con- gressman by the name of philemon Herbert (no relation to me) shot and killed a waiter at Willard’s Hotel in Washington, and if that wasn’t enough, the prosecutor in the subsequent murder trial (philip Key, the son of francis scott Key) was later murdered by daniel sickles, a new York Congressman. the violence and bleeding related to whether slav- ery would be permitted in Kansas, foreshadowing the Civil War before any shots were fired at fort sumter. the congressional mayhem could not be ignored. on may 7, 1856 — before many of the 1856 fisticuffs and shootings had occurred -- the New York Times editorialized: “While there is no reason to doubt that the mass of the peo- ple are becoming more and more cultivated, it is certain that the manners of both Houses of Congress have become worse and worse.” A congressman from virginia summed up the havoc and danger of the 34th Congress, “Assaults and batteries these days are matters of great moment, whether committed inside of this Hall or outside of it.” the combatants in the 34th Congress did manage, however, to cease their warring long enough to vote themselves a pay raise to $3,000 per year. somehow -- although it’s hard to believe -- we’ll muddle through. We always have. no matter how intense politics gets, it’s been wackier and more hostile. so turn your television news shows off. spend time with your family and your hobbies. exercise. Write long letters by hand again. read poetry and his- tory. repeat.
paul Herbert Don’t get me started i don’t expect anyone to agree with me totally if you wanted to determine whether your lucky silver dollar was actually fair, one option would be to flip the coin a few thou- sand times, then call up a friendly statistician to crunch the num- bers and tell you the likelihood it really comes up heads 50% of the time. the good news is that your friend will tell you that you don’t need to send pages and pages of “H”s and “t”s – just the number of each result is enough. the reason is that the ratio of heads to tails in this case is called a sufficient statistic. this means that for the purpose of determining the true probability of a coin landing heads up, the percent of the time your experiment ended up heads contains all of the relevant information that would be in a complete play-by-play or even a video of your experiment. in essence, a sufficient statistic is the ultimate goal of curren- cy grading. even compared to coins or other collectibles, curren- cy is bought and sold at a distance on a large scale, and communi- cating the condition of a note as completely and accurately as pos- sible is important for satisfactory transactions. not many years ago, pictures were not a viable option. even though they are cer- tainly a possibility now, anyone who has spent more than a pass- ing moment on eBay knows they are not always ideal. so, we still depend on grades to communicate a note’s condition. in many cases, they do a reasonable job. We can all quote the number of folds allowed by various grades, and can generally picture a fine-12 or an Au-55. i use the word “generally,” of course, because we have all also seen exceptions – notes that may technically warrant a particular grade (or maybe just doesn’t fit any other grade as well), but certain- ly doesn’t fit the pre-conceived notion we have for that grade. Which raises a philosophical question – if a grade doesn’t properly describe a note, does it matter that it is “technically correct?” over the next few columns, i hope to answer this question, and explain how i see the idea and framework of currency grad- ing. i don’t expect anyone to agree with me totally, but hopefully i will raise some issues and new thoughts that will be worthwhile. Before i do, however, it is worth noting -- i am not, never have been, and never plan to be a professional grader, just a collector with too many opinions. We’ll pick things up here next issue.
John davenport Spurious Issues Paper Money • September/October 2012 • Whole No. 281 399 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 U.S. residents, $17 for Canadian and Mexican residents, and $23 for those in foreign locations. This space for rent Only $225 for six issues, or $125 for three issues, or $45 for one issue DBR Currency We pay top dollar for • National bank notes • Large size star notes • Large size FRNs and FRBNs www.DBRCurrency.com P.O. Box 28339 San Diego, CA 92198 Phone: 858-679-3350 info@DBRCurrency.com Fax: 858-679-7505 See our eBay auctions under user ID DBRCurrency You are invited to visit our web page www.kyzivatcurrency.com For the past 12 years we have offered a good selection of conservatively grad- ed, 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 Springs, IL 60558 E-mail tkyzivat@kyzivatcurrency.com Another chance missed to sell your duplicate notes at “collector prices” Advertise in this space and take home the big bucks!!! Paper Money • September/October 2012 • Whole No. 281400 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 To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to: The Professional Currency Dealers Association PCDA • Hosts the annual National and World Paper Money Convention each fall in St. Louis, Missouri. Please visit our Web Site pcdaonline.com 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. Or Visit Our Web Site At: www.pcdaonline.com James A. Simek – Secretary P.O. Box 7157 • Westchester, IL 60154 (630) 889-8207 Sept-Oct 2012 SPMC cover_Jan/Feb Cover 7/31/12 1:17 PM Page 3 23291 CURRENCY SIGNATURE® AUCTION OCTOBER 18-20, 2012 ❘ DALLAS ❘ LIVE & ONLINE DALLAS ANA T H E A N A N AT I O N A L M O N E Y S H O W SM DALLAS | NEW YORK | BEVERL 3500 Mapl TX Auctioneer licenses: Samuel Foose 11727; Robert Korver 13754; Andr Y H ILLS | SAN FRANCISCO | P exas 75219 | 800-872-6467 | HA.comvenue | Dallas, Te A emium.s prThis auction subject to a 17.5% buyer’ AARIS | GENEV ycnreruCBF/moc.AH oss 16406.ea V rtetiwT/mco.AH Sept-Oct 2012 SPMC cover_Jan/Feb Cover 7/31/12 1:17 PM Page 4