Paper Money - Vol. I, No. 2 - Whole No. 2 - Spring 1962

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rD f11 d,, F(41* 17A11117 trifililtrif:Alt:OliA 1 WA111111:1VAIMAY1 Paper litene DEVOTED TO THE STUDY OF CURRENCY Mb. WIZ al! (14: 11111n UP' 3 SPRING 1962 OFFICIAL PUBLICATION OF Society ojf Paper &ono/ Collector,i immommtimmtimmimmummtlwwwwwwwwitnym* (blank page) apeP VOLUME 1 SPRING 1962 NUMBER 2 PUBLISHED QUARTERLY BY THE SOCIETY OF PAPER MONEY COLLECTORS Editor Hank Bieciuk Assistant Editors Foster W. Rice, Arlie Slabaugh, Fred R. Marckhoff, C. J. Affleck, Dwight L. Musser Subscription $3.00 Per Year ADVERTISING RATES One Time Yearly Outside Rear Cover $35.00 $130.00 Inside Front & Rear Cover 32.50 120.00 Full Page 27.50 100.00 Half Page 17.50 60.00 Quarter Page 10.00 35.00 Direct Advertising to the Editor. The Right Is Reserved to Reject Any Advertisement. CONTENTS "Legalized Swindling System" by Eric P. Newman, Numismatic Education Society Page 3 "Operation Fix-Up" by Hank Bieciuk Page 3 and 4 "S.P.M.C., Why"? by Earl Hughes Page 4 and 5 "Why Paper Money"? by Rev. Frank H. Hutchins Page 5 "New Korean Paper Money" by Dwight L. Musser Page 5, 6 and 7 "Tenino Wooden Money" by Arlie R. Slabaugh Page 7, 8 and 9 New Membership Page 9, 10 and 11 ociet9 of Paper ilteney Collecter4 OFFICERS — 1962 President Hank Bieciuk First Vice President James J. Curto Second Vice President Thomas C. Bain Secretary George W. Wait Treasurer Glenn B. Smedley APPOINTEES — 1962 Historian-Curator Earl Hughes Attorney Ellis Edlowitz BOARD OF GOVERNORS — 1962 Julian Blanchard, Harold L. Bowen, Ben Douglas, Amon G. Carter, Jr., Philip H. Chase, James Kirkwood, Walter M. Loeb, Dwight L. Musser, Eric P. Newman, William A. Philpott, Jr., Peter Robin. Paper litene9VOL. 1, NO. 2 PAGE 3 "Legalized Swindling System" Contributed by Eric P. Newman, Numismatic Education Society In examining a $5 banknote of the Exchange Bank of Virginia payable at its Richmond Branch and issued in Norfolk on July 9, 1855, I found a tirade against the issuance of this type of banknote printed on the reverse. It is obvious from its content that these inflamatory remarks were printed on the note during its circulation and as such have historical importance. While business advertisements and exchange broker's stamps were often placed on the back of banknotes during their circulation, the following comment about the paper money itself is most unusual: The paper banking system is essentially and necessar- ily fraudulent. The very issue of paper as money is always a fraud, and must operate to rob the earnings of labor and industry for the gain of stock-jobbing, wild specula- tion and knavery and to corrupt private morals and degrade national character. The object, as well as the effect, of the paper-money system is to enable those who have earned or accumulated nothing by labor, to exchange their nothing for the something, and often the everything, earned by the labor of others. But worse and more fraudulent in effect than the general paper-money system is that of Virginia, because that the latter adds the feature of branch banks—which, alone, would serve to render banks more irresponsible, and therefore more corrupt and dishonest. The different branch banks, by exchanging their notes, and each issuing only the notes of other and distant branches, and refusing to pay any but their own (which they thus keep far from home), actually can always maintain a virtual suspension of payments, even when not directly shielded by the law in refusing to pay. And this, the most contemptible of their evasions of the obligations of law and honesty, has been availed of extensively, and with entire efficacy.* And yet more fraudulent and more injurious is the banking system of Virginia than the general, because the penalties ostensibly imposed on the illegal acts of banks cannot be enforced; and were not intended to be enforced. And all the general and also the peculiar fraudulent principles of the banking system of Virginia are rendered more effective and more malignant because the govern- ment is partner in trade with the banks—and thus foolishly attempts to share in the dishonest profits of the banks, made by cheating both the government and the people. And this attempt always results, as must do leagues for pillage concerted between knaves and their dupes, as joint operators and sharers. The stock-gambling and borrowing interest, (not the simple and honest stockholders) get all the benefit of the league and the cheating, and the govern- ment and the people pay the cost and suffer all the injury.— *Though some years have now passed since the falsely pre- tended resumption of payments, there is not now a truly specie-paying bank in the principal towns of Virginia; nor will there be, while the present legal policy, (which per- mits the irresponsible swindling system), shall exist. Operation Fix Up, by Hank Bieciuk You can take a coin out of circulation, but you can never take the circulation out of a coin. Familiar? You bet! The same is true of currency. But, there is something you can do to improve the overall appearance of some circul- lated notes. Many of the notes acquired from non-collector friends look as if they had been trampled to death! For some strange reason, these notes are usually badly crumnled. Others have been carefully folded and carried in billfolds for years. Even notes purchased from dealers are apt to have a couple of corners carelessly bent. All of these notes can be improved with a little time, patience, practice and an iron. For "operation fix-up" you will need an electric iron, some Kleenex, a pocket knife and a hard smooth surface upon which you can iron. An ironing board won't do because it is usually padded and cloth-covered and a hard surface is a must. First, spread a Kleenex on the table and lay the note on the Kleenex. Dampen another Kleenex and keep it handy. Plug in your iron, set it at low temperature and you are ready to begin. Let us suppose that the note you wish to improve had a couple of corners bent. Pick up your knife (preferably a knife with small blades) and gently lift up the corners and fold them back into place. It is best to use a knife, as there is less danger of tearing the note while folding back the corners. Next, pick up the dampened Kleenex and moisten the corners you have just folded back. With the damp Kleenex smooth down any other wrinkles or creases present. Now put a dry Kleenex on top of the note and you are ready to iron. (Placing a Kleenex on top of the note before ironing prevents giving the note a "shine.") Now, pick up your iron and move it slowly back and forth over the note until the dampness is gone. Remove the note, place it on a flat surface, or in a book, and place more weight, such as books, over it. Leave it alone for six hours or more. Not only will the note look better, it will be worth more! If the edges of your note are ragged, get a sharp pair of scissors and carefully cut away as much of the ragged edge as the margin of the note will permit. Most notes have fairly wide margins and will permit this little operation. Of course, if your note was cut close to begin with, there is little you can do. CONTINUED NEXT PAGE PAGE 4 Paper ',tenet/ 1VOL. 1, NO. 2 OPERATION FIX UP CONT'D FROM PAGE 3 For our next patient, let us select a note that is either torn or has a cut cancel. NEVER, NEVER, NEVER use a cellophane tape to repair a tear or cut! These cellophane or scotch tapes have a tendency to "bleed" after a period of time and will ruin the appearance of a note. Go to an office supply store and purchase either the regular library mending tape or the new Magic Mending Tape by Minnesota Mining Company. Both are excellent. The big difference between the two is that the library mending tape must be moistened before applying while the Magic Mending tape needs only to be applied. Which is best is a matter of preference. I prefer to use both, depending upon the repair. Let us assume that we are going to use the library mending tape and that the note has been torn almost in half. First, smooth down the torn edges and place them together so that they fit perfectly. If the tear is over 1 inch in length. I like to use several pieces of tape laid end to end rather than one long piece. It is far easier to work with in this manner. The tape is on a roll and is about 5/8" in width. Cut a piece of tape about an inch in length and 1/8" in width. Moisten the tape and place it over the center of the tear beginning at the end of the tear and working up to the edge of the note. Cut another piece exactly like the first and overlap the first piece at the point you ended the first repair. Continue this until the entire tear has been mended with the tape. Notes that are cut cancelled, as almost all Government and Republic of Texas notes are, can be repaired in the same manner. Some collectors prefer not to repair cut can- cels. Personally, I believe such a repair, skillfully done, actually improves the appearance of a note. It will also prevent any possible damage of further tearing the cut cancel while handling the note. Now let us clean some notes. If you have a crisp uncirculated and UNSIGNED note that is discolored or foxed, you can restore its original brightness. The foxing is brought about by time and the oil or cleaning compound used in wiping the printing plate after each impression. We shall, in effect, bleach the note. How- ever, the only thing that will be bleached will be the dis- coloration. The original printed design will not be affected in any way since printer's ink cannot be bleached. Written signatures and dates can be bleached by the method to be described later. For this bleaching operation, we will need the follow- ing: 2 pots, pans or dishes capable of holding 4 quarts of water each. Chlorox or Purex, clean heavy white paper or blotter, Kleenex and an electric iron. Fill one pan with two quarts of water, add two tablespoons of bleach and stir. Fill the other pan with two quarts of water and set aside. Into the water and bleach solution, immerse the foxed note edge first. Leave completely immersed for 20 minutes. Now carefully remove the note from the bleach solu- tion and immerse it in the second pan of clear water. This clear water will act as a rinse. After 30 minutes of soaking, remove and place the note on a piece of clean, heavy white paper or blotter. With a crumpled Kleenex, carefully blot away the excess water. Plug in the electric iron, set it at low temperature, spread a Kleenex over the wet note and you are ready to iron the note. Carefully move the iron over the entire surface of the note. As the note becomes dry, after approximately one minute of ironing, it will have a tendency to curl. This is a good place to stop the ironing. Pick up the note, place it between the pages of a heavy book, and set aside for six hours or more. The previously stained or foxed note should now be as bright and white as the day it was printed. Almost all of the circulated notes we shall wish to clean, will have penned signatures and usually a penned date and serial number. Although we shall use exactly the same materials as above, we will have to alter the proce- dure somewhat. If not, the signatures, date and serial numbers will be bleached from the note. Immerse the circulated note into the bleached solu- tion. Now, carefully watch the note. After 5 to 10 min- utes of soaking, the penned portions of the note will show signs of fading. At this point, remove the note and place it into the rinse pan. The amount of soaking in the bleach solution will depend on the type of ink used in signing the note. Some inks are more stable than others and will permit a longer soaking time. In turn, a longer soaking time will, of course, mean a cleaner note. Leave the note in the rinse water for 30 minutes, remove and iron as before. Not only will the note appear cleaner and brighter, but any wrinkles or creases it might have had will be lessened. Place the note between the pages of a heavy book and set aside for 6 hours or more. The matter of cleaning circulated notes is an individ- ual process, arrived at through trial and error. Some notes will be greatly improved and others will resist all attempts at cleaning. The factors involved—types of paper, inks used, amount of circulation, etc.—will govern the measure of success you can expect. However, the time and effort spent in attempting the cleaning, will be richly rewarded in greatly improved notes. S. P. M. C., Why? by Earl Hughes Let us hear the parable of the paper money collectors. There was a time when PMC's were scattered all over the face of the earth and within that field was buried the rarities of great price. And they said, "Let us keep this a secret." Then every collector gathered together all his pos- sessions and tried to purchase the field. They spent all of their living in riotous buying, but no man was able to purchase the field wherein lay the rarities of great price. Then they said, "This will we do. We will keep this a secret no longer. We will distribute our knowledge and not hide our collections in an album." They joined the A.N.A. and showed their collections at conventions and began to write about them in numismatic publications. Their fellow collectors perked up at this appetizer. They said, "Here we are with silver and gold, and these paper CONTINUED ON NEXT PAGE Paper litene9 PAGE 5VOL. 1, NO. 2 S. P. M. C., WHY? CONT'D FROM PAGE 4 money collectors are happy with "rags." Let us see what it is all about." They tasted, and wanted more. The price of the field of great rarities grew and grew and no man was able to purchase it. Then the paper money collectors said, "Though we cannot buy the field, we will set up a society thereon. Surely we are entitled to squatters rights. We will file our claim and spend the rest of our days right here." And that, my Child, is why, in this year of 2000 A.D. you see this great museum erected on this field. Within are great rarities, and common "rarities," exhibited where the kings and the common may view the beauty, or drab- ness of their history through the ages. At last the rarities of great price are available to the eyes of the world. In the East Wing, once each year are met the PMC's of the world for a festive convention of fellowship. In the West Wing is housed the library of knowledge of good and evil of paper money . . . publications of the S.P.M.C., only a dream in 1961. Over the threshold of the present . . . to the past .. . walks the future. Why Paper Money? by Rev. Frank H. Hutchins Paper money interests few numismatists; yet it has many points coins lack. It's easier to house, more beautiful, and more identifiable. Your coins are more like a million others; any bill you have is yours alone, with a serial num- ber as identifying as if it had your name across it. But it's even more than that: it's a fairly untried field. In the later series, notably the silver certificates of the series of 1899 and the legal tender notes of 1901, 1907, and 1917, constant changes were made in the placing of the plate numbers, both obverse and reverse; in the McAdoo red-seal Federal Reserve notes, District designations in the upper left-hand corner were a late addition; and the small-sized notes, by the increase in the legibility of the plate numbers during Morgenthau's term of office, present many interesting subvarieties demanding exploration and a tabulation of results. I hope, in future articles, to list discoveries that I myself have made; and going on from this, I'm sure that we can get as good a cataloguing of the many subvarieties of paper money as exists for large cents, early silver coinage, and the like, with differences more pronounced and more discernible than almost any that exist on coins. Many pieces will show up, I'm sure, as soon as we're aware of what to look for, and if all of us who have found paper interesting do cooperate I'm sure that we can make this branch of numismatics take the place it should have in the numismatic field. New Korean Paper Money, by Dwight L Musser Following the occurrence known in Korea as "The Democratic Revolution" on April 19, 1960, plans were made to replace the portrait of Dr. Syngman Rhee on the country's paper money with a more appropriate feature. Rhee, who had served as President since 1948, fled from the country as a result of the revolution. Consequently, new 1000 Hwan and 500 Hwan notes have been issued with a likeness of King Sejong taking the place of that of Dr. Rhee. A description of the new notes follows: 1000 Hwan Note of 1960 (ACTUAL SIZE) CONTINUED ON NEXT PAGE If 0000000071 flu PAGE 6 Paper i1tone9 VOL. 1. NO.2 NEW KOREAN MONEY CONT'D FROM PAGE 5 (ACTUAL SIZE) Date issued: August 15, 1960. Size: 165 x 73 mm. Paper: Special banknote paper with shaded watermarks. Design and colors. Face: Portrait of King Sejong. Letters and frame Black First background Peach Second background Bronze Third background Citron green Seal and issue numbers Red Serial number Black Back: Frame Cork Background Dark green 500 Hwan Note of 1961 (ACTUAL SIZE) CONTINUED ON NEXT PAGE VOL. 1, NO. 2 Paper 1f tone PAGE 7 NEW KOREAN MONEY CONT'D FROM PAGE 6 000037 (ACTUAL SIZE) Date issued: April 19, 1961. Size: 156 x 73 mm. Paper: Special banknote paper with shaded watermarks. Design and colors: Face: Portrait of Sechong King (King Sejong). Letters and frame Dark green First background Turquoise Blue The new notes, which reflect high standards of quality and craftsmanship in their production, were printed by the Banknote Printing Plant in Pusan, a branch of the Government Printing Agency with headquarters in Seoul. The paper was produced by the Tae Jon Paper Mill, also a branch of the Government Printing Agency, located in Tae Jon. The notes are distributed through and by the Bank of Korea, the government central bank. Second background Cream Third background Bronze Seal and issue numbers Red Serial Number Black Back: Frame Bottle green Background Lilac No date was fixed for the exchange of the former 1000 and 500 Hwan varieties of currency, which remained legal tender pending further announcement. Technical data courtesy of Mr. Byung II Chang and Mr. Young Heum Kang, managers of the Note Issue De- partment, The Bank of Korea. Sources: Official announce- ments and direct correspondence. Tenino Wooden Money, by Arlie R. Slabaugh Following the "Crash of 1929" the Citizens Bank of Tenino, Washington closed as did many other banks throughout the country. As a substitute for frozen assets in the town's only bank, the Chamber of Commerce re- sorted to depression scrip. Tenino deserves special mention as it originated wooden money which proved to be self-li- quidating even during the Great Depression—even a short- age of cash could not stop the great American souvenir hunter. The first issue was dated December, 1931 and was printed on paper. This issue consisted of 105 of $10; 305 of $5; 605 of $1; and 300 of 25c. All of this and succeeding issues were printed by Don M. Major, Secretary, and one of the Trustees of the Tenino Chamber of Commerce. As publisher of the town's newspaper, the Thurston County Independent, he was, of course, the logical person to print the scrip. After printing the paper scrip, Mr. Major thought of using some thin wooden material he had in the shop to print scrip on. These wooden strips had been given him as samples with the purchase of some wooden Christmas cards (it was December). Although there are earlier examples in wooden numismatic items in the United States such as the wooden die stamped medals of the Centennial Exposi- tion of 1876 and Columbian Exposition of 1893, wooden money as we think of it today in the United States origin- ated with Mr. Major. As far as known the idea suddenly came to him while contemplating the cardlike wooden samples he had on hand and that he had not known of the souvenir Austrian issues of 1920 (on heavier wood) or other foreign issues. In any event he printed 40 of 25c scrip on the thin wooden sample sheets dated December, 1931. This is the CONTINUED ON NEXT PAGE 5c 11111111111111111111111111!E111111111illillIMITI1111111111i!1111111111111111III I Sc THIS SCRIP IS WORTH (NE NICKEL cgs. In Wooden Money c 1111111111111111111111151111111111111111111111111111111111101110111111111111111111! gc -Y7WAltaXiTITS—ANE-AS,M=111:-= TIME_ CrrIZEIV3-a*NiC fIF i• --"-77r.4.-------Itirearartershrtir-t.1.-5- .—r4e4141;-'7rtirkcet PAGE 8 Paper Iltene9 VOL. 1, NO. 2 TENINO WOODEN MONEY CONT'D FROM PAGE 7 rarest issue. And, in printing it, Mr. Major never used deceit about its purpose. He frankly stated that he hoped that after placing them in circulation the wooden issues would be such a novelty that they would be kept by col- lectors and souvenir hunters and never redeemed. He fur- ther stated that they exceeded his "fondest hope." The Tenino wooden money was made from two-ply slices of Sitka spruce (in which the area abounded) cut to 1/80th of an inch thickness and made strong by a sheet of paper pasted between the two surfaces. The next issue dated February, 1932 consisted entirely of wood: 100 of $1, 375 of 50c, and 2600 of 25c. All were issued through the Chamber of Commerce and were signed by F. W. Wich- man, D. M. Major and A. H. Meyer as Trustees. Each scrip states that "This Certificate is good only during the process of liquidation or within six months after the reor- ganization of Citizens Bank of Tenino." The March, 1932 issue was likewise of wood but intro- duces a novelty—"watermarked" scrip made by having the paper pasted between the outside wood strips bear a printed slogan, "Confidence makes good, money made of wood." Of this variety, which could be seen when held to the light, there were 100 of 50c (rare), and 1000 of 25c. Of the usual type without "watermark" there were printed 155 of $1 and 2500 of 25c. The issue dated April, 1932 has the redemption pro- visions changed to read that "This Certificate is redeemable only until January 1, 1933." Apparently for this reason it also bears the designation "Second Series." Otherwise the design is same as preceding issues except for date. Of this issue there were printed 300 of $1, 600 of 50c and 5000 of 25c. Both plain and "watermarked" wood was used for all denominations. The "watermarked" ones are rare. All of the preceding 1932 issues bear similar designs as follows: 25c, blue, with Washington on reverse in brown; 50c, red, with Lincoln on reverse in blue; $1, brown, with Lincoln on reverse in green. Varieties exist in addition to regular type: Feb. 1932, 25c, both sides brown; March 1932, 25c, no watermark, green reverse; March 1932, 50c, no watermark; March 1932, $1, green obv., brown rev.; April 1932, 25c, both sides brown; April 1932, $1, both sides brown; June 1932, 25c, with star added to rev.; July 1932, 50c, with two stars added to rev.; August 1932, 25c, black obv. Similar issues in denominations of 25c, 50c and $1 were also issued with dates of May, June, July and August, 1932. However, I seem to be lacking the figures on the number printed with these dates. Perhaps some reader can oblige. These have printed signatures instead of hand- written as on previous months. (ACTUAL SIZE) D. M. Major also issued a wooden nickel of his own for small change. Undated (1932) it reads "Confidence is essential if money is to circulate. When money flows freely prosperity will return" printed in green. The denomination side is printed in red. (ACTUAL SIZE) In January, 1933, A "Third Series" was issued. This issue states that it will be redeemed in December, 1933 "From Thurston County Warrants and the Assigned Divi- dends from the Liquidation of the Citizens Bank of Tenino, Wash." This issue is made of red cedar wood instead of Sitka spruce. There were printed 200 of $1 (Coolidge on reverse), 200 of 50c (Washington on reverse), and 2000 of 25c (Lincoln on reverse). All are in two colors with signa- tures printed. The 50c is in two varieties, green with red rev. and red with blue rev. Thl's Certitzeto fa Redeemable by the Trustee of the Chamber of Commerce Tenino, Wash. rt4:41 DivIdeada Assigned to It from tit. Citizens Sauk of tentue, For the Amount of TWENTY-FIVE CENTS 06 IN UNITED STATES CURRENCY • TI,Is Car tIllsats I* rethussushia lAtt Y sA Joatiary 1, 14.13. SRCUwd Series. ISSUE OF APRIL, MU Paper !limey PAGE 92 VOL. 1, NO. 2 TENINO WOODEN MONEY CONT'D FROM PAGE 8 (ACTUAL SIZE) Wooden money of same type as the January, 1933 issue is supposed to exist with April, 1933 and May, 1933 dates. Except for the April, 1933 25c I have not seen these and any that exist with these two dates can be considered rare. By this time there were many wooden money issues and the novelty was wearing off—the Chicago World's Fair of 1933 was offering wooden nickels at a lot cheaper price than the Tenino pieces could be had. Thus, the Tenino wooden money could not longer compete on a price basis and anyway the bank emergency in Tenino had by now been weathered—they didn't try to push a good thing ad infinitum. But while they were in use they served a real need, by helping ease a crisis when the whole nation was distraut and each town was largely on its own. The Thurston County Independent newspaper also issued lc, 2c, 3c wooden scrip in 1933 with a postage stamp placed between the two thin layers of wood. These are now rare. A final wooden issue of Major's was in 1935 when sales tax was instituted in Washington state. His newspaper issued small square temporary tokens made of wood for the 1/5 cent sales tax on 10c or less (2% tax). The reverse pictured a donkey in red with the inscription below "Is his face red?" indicative of the people's dislike of the tax. A similar token was printed for L. A. McLain of Tenino. The Tenino wooden money helped accomplish what it set out to do—set the town's banking facilities in order. A profit was made, and in no time at all, over a hundred other towns had followed suit with wooden money. Others tried leather, shells, etc. to encourage people to keep them as souvenirs so that they would never have to be paid off. Most depression scrip, though, is of paper, often liquidated through a stamp system rather than through its novelty, and served during the depression as a town's circulating medium. The paper issues of Tenino, for example, are usually in used condition. New Membership Roster No. Name and Address Dealer or Collector Specialty 372 L. P. Schweiger, 536 South Dewey Avenue, Jefferson, Wisconsin C Currency of the Civil War Period 373 Mrs. Philip L. Budd, 1005 Avenue G, Fort Madison, Iowa C Fractional Currency 374 Michael Todascu, 4825 20th Street, Box 144, Laval C-D Canadian West, P.Q., Canada 375 Gilvin A. Ayers, 2345 South San Antonio, Pomona, Calif. C Paper Money and Medals 376 Robert Goodpaster, 7155 East 21st Street, Apt. 6, Indi- anapolis, Indiana C Broken Bank Notes 377 Col. James W. Curtis, 2117 Noble Avenue, Springfield, Illinois C Illinois and Mexican Paper Money 378 Arthur E. Carlson, 335 Wyandotte Street, Bethlehem, Pennsylvania C Foreign Currency 379 John P. Butler, Route 1, Grandfield, Oklahoma C Anything Used as Money CCNTINUED NEXT PAGE PAGE 10 Paper Money VOL. 1, NO. 3. No. Name and Address Collector Dealer or Specialty 'I/ 380 Dr. Leonard M. Rothstein, 2409 Sylvale Road, Balti- more 9, Maryland Regular (Non-Charter) Members C National Bank Notes, Obsoletes and Colon- ials of Maryland sa a 381 Dennis E. Coyle, 518 East Haney Avenue, South Bend 14, Indiana C All Paper Money la is 382 GySgt. R. R. Sullivan, MABS-17 (Comm.), c/o FPO C All Ja San Francisco, California Ja 383 Edward E. Cooke, 712 Lyons Avenue, Charlottesville, Virginia C German Notgeld 1914-1922 384 Albert Philip Cohen, 137 East 28th Street, New York 16, N. Y. C U.S. Fractional Currency 385 William Smietana, 4441 South Marshfield Avenue, Chi- cago 9, Illinois C China JapanInvasion—AMC 386 Kenneth M. Gayer, P. 0. Box 111, Montreal, P.Q.. C-D Foregin Canada 387 John Strojny, 4 South Page Street, Kingston, Pennsyl- vania C All 388 Paul J. Reuter, P. 0. Box 85—Times Square Station, New York 36, N. Y. All (General Foreign) 389 J. B. Craven, 16 East Center Street, Lexington, North C Carolina 390 Eddy Echenberg, 88 Wellington Street, North, Sher- brooke, Quebec, Canada C General 391 Leonard Phillippi, 901 Young Street, Piqua, Ohio C Foreign Paper Money 392 Louis R. Karp, 2214 Brighton Avenue, Louisville 5, Kentucky C-D General 393 David W. Karp, 900 Alta Vista Road, Louisville 5, Ky. C-D General 394 Andre L. Helfer, 78 West Street, Medford 55, Massa- chusetts D General Foreign 395 C. Meister Phetteplace, Elm at Broad & Boyd Streets, Erwin, Tennessee C 396 Thomas R. Simmons, 1040 Cedarwood Road, Glenolden, Pennsylvania C General 397 Captain Glenn E. Thompson, 33rd Medical Company, APO 58, New York C Coins and Paper Money of the World 398 A. Maes, Librarian, Banque Nationale de Belgique, Brus- sels, Belgium 399 Edward K. Elder, 530 Jefferson Street, N.E., Albuquer- que, New Mexico C U.S. Large Notes 400 W. R. Bishop, Drawer 100 Emlenton, Pennsylvania C $2 Uncirculated U.S. Notes Charter Member 314 Konstantin A. Jansson, 624 Sixteenth Avenue, San Fran- cisco 18, California C Paper Money of Russia, Poland, Finland, Baltic States, P.O.W., Broken Banks Regular Members 401 Charles F. Blanchard, 1514 Canterbury Road, Raleigh, North Carolina C U.S. 402 Dr. M. R. Talisman, 893, Central Avenue, Woodmere, New York C Post World War I Currency 403 Alson Thomas Staley, PSD/USAID, American Embassy, Djakarta, Java, Indonesia C (Send magazine to 9510 Huntington Drive, Corpus Christi, Texas) 404 Charles Karp, 1760 Union Street, Brooklyn 13, New C U.S. and Foreign Paper Money and Coins York 405 Captain Kenneth C. Levin, 219 Colmar Road, Fort Ord, California C Foreign, Especially WW2, China, Soviet Union, British Empire 406 Rev. E. G. Stevens, 1066 South Plymouth Boulevard, Los Angeles 19, California C General 407 Walter D. Rudisill, R. D. No. 2, Seven Valleys, Pennsyl- vania D Currency and Coins 408 Michael Kolman, Jr., 4263 Pearl Road, Cleveland 9, Ohio D All 409 Jack Marles, Box 10, Station A, Calgary, Alberta, Canada D 410 Al Wolfson, 4421 Belview Avenue, Baltimore 15, Mary- land C U.S. Coins and Currency, CSA, Foreign 411 George E. Tillson, 120 East Hartsdale Avenue, Harts- dale, New York C Foreign Bank Notes 412 Hal Woolway, 1025 Palms Boulevard, Venice, California C P.O.W., W.W.2, Mexico, China, Japan 413 Captain J. E. Wilkinson, CSC Box 1665, Maxwell AFB, Alabama C CSA 2VOL. 1, NO. 2 Paper 11tone9 PAGE 11 414 Mrs. Adolph B. Hill, Jr., 4925 Pershing Place, St. Louis 8, Missouri 415 L. J. Waters, P. 0. Box 1051, Madison 1, Wisconsin U.S. Notes, National Bank Notes, Freak Notes 416 Isao Gunji, Curator, Museum of Moneys of the Bank of Currency and Coins Japan, Muromachi Nipponbasi Tynoku, Tokyo City, Japan 417 Saichi Fujiyama, Maruaka-machi, Nishiuriya, Fukuiken, Japan Old Paper Money—Han-Satsu (Clan Notes) 418 James W. Johnson, 602 Woodmere Road, Berea, Ohio Large U.S. Bills and Fractional Currency 419 Walter M. Jasinski, 300 Maple Street, East Long- meadow, Mass. Poland Change of Address Only 311 C. F. Mackenzie, 401 Ocean Villa-1245 Beach Avenue, Vancouver 5, B. C. 115 John B. Hamrick, Jr., 165 Fourth Street, N. W., Atlanta 13, Georgia ADDENDA: WANTED • Obsolete and Broken Bank Notes • Canadian Obsolete Notes • Sutler Notes • Colonial and Continental Notes of Southern Colonies • Uncut Sheets • Or . . . What Have You? B. M. Douglas 402 Twelfth St. N. W. Washington 4, D. C. WANTED Buy or Trade Virginia Colonial, Broken Bank, State, County, Town Notes and Bonds Charles J. Affleck 34 Peyton Street Winchester, Virginia Can Use-- Large U. S. Currency $1.00, $2.00, $5.00 & $10 Notes Can Use Up To 100 Pieces (or more) of Each Denomination. These Are Not for Collectors, But Must Be Nice, VG F or Better. A. Hegel WANTED • NEW ENGLAND NOTES • ALTERED NOTES • SUTLER NOTES • OTHER UNUSUAL NOTES Will Buy or Trade—Large Quantity of Notes Available for Trade. Includes Broken Bank, U.S., C.S.A., Frac- tional, Colonial, etc. George Wait Box 959 Indio, Calif. Box 165 Glen Ridge, New Jersey TEXAS CURRENCY Government of Texas, Republic of Texas, State of Texas One of the nicest and largest offerings ever made! These notes are highly prized, much sought after and very seldom available. During the past few years we have built up our stock to the point where we can offer you this material for the first time. Don't wait on these—it will be a long time before we can offer such a won- derful selection again. GOVERNMENT OF TEXAS — 1838 and 1839 $5 Cr H-16 Indian on Horseback Chasing Bison. Fine $30.00 $10 Cr H-17 Ship left, Industry Seated Right. Fine $30; VF 35.00 $20 Cr H-19 Liberty left, Minerva right. Fine $30; Very fine 35.00 $50 Cr H-21 Justice seated, Sailor and Flag at left. Fine $25; VF 30.00 REPUBLIC OF TEXAS — 1839 to 1841 $1 Cr A-1 Ceres seated, Indian brave at left. VF $25; Unc. 30.00 $2 Cr A-2 Cowboy roping steer, Stag at left. Fine $22.50; VF 25.00 $3 Cr A-3 Ceres seated by Lone Star. Fine $25; Very fine 27.50 $5 Cr A-4 Indian brave seated. Very fine 25.00 $10 Cr A-5 Hercules at left, Ship at right. F $22.50; VF $25; Unc. 30.00 $20 Cr A-6 Indian and maiden by shield, Indian at left. Unc. 27.50 $50 Cr A-7 Steamship center. Nude maiden at left. Very fine 30.00 $100 Cr A-8 Minerva seated, Mercury flying. F $30; VF $35; Unc. 40.00 STATE OF TEXAS These are warrants issued during Civil War $3 Cr 10 Green and black. Uncirculated 10.00 $5 Cr 11 Green and black. Uncirculated 6.00 $5 Cr 14 Green and black. Uncirculated 7.50 $10 Cr 17 Red and black. Uncirculated 10.00 $10 Cr 20 Green and black. Uncirculated 10.00 $20 Cr 26 Green and black. Uncirculated 9.00 $50 Cr 32 Fancy green reverse. Uncirculated 10.00 Limited quantity, so order early. All items sent postpaid in heavy acetate holder. Satisfaction always guaranteed. WANTED We wish to purchase quantities of broken bank notes and Texas county notes and scrip. Send with price wanted or send for our offer. Hank Bieciuk ANA TNA "America's full-time obsolete currency dealer" Phone 6414 Box 1235 Kilgore, Texas Property of T (blank page)