Paper Money - Vol. LVIII, No. 1 - Whole No. 319 - January/February 2019

Paper Money Vol. LVIII, No. 1, Whole No. 319 www.SPMC.org January/February 2019 Official Journal of the Society of Paper Money Collectors 2019?What?s in store for our hobby? What can YOU do for the good of our hobby? 1231 E. Dyer Road, Suite 100, Santa Ana, CA 92705 ? 949.253.0916 123 West 57th Street, New York, NY 10019 ? 212.582.2580 Info@StacksBowers.com ? StacksBowers.com California ? New York ? New Hampshire ? Hong Kong ? Paris SBG PM JanFeb2019 BaltHL 181129 America?s Oldest and Most Accomplished Rare Coin Auctioneer Stack?s Bowers Galleries is Pleased to Present Paper Money Highlights from our O cial Auction of the Whitman Coin & Collectibles Spring Expo February 27-March 2, 2019 | Baltimore, Maryland Contact Us for More Information. 800.458.4646 West Coast ? 800.566.2580 East Coast ? www.StacksBowers.com Fr. 184 (W-4060). 1869 $500 Legal Tender Note. PCGS Currency Choice About New 55 PPQ. From the Joel R. Anderson Collection Fr. 212a (W-3280). 1864 $100 Interest Bearing Note. PCGS Currency Very Fine 30. From the Joel R. Anderson Collection Fr. Unlisted (W-Unlisted). ND (1895-97) $10 Silver Certi cate. PCGS Currency Choice About New 55. Face Progressive Essay Proof. From the Caine Collection Type of Fr. 166 (W3432-W3435). 1862 $100 Legal Tender Note. PCGS Currency Choice New 63. Face and Back Proof. From the Caine Collection Fr. 204 (W-3265). Act of March 3, 1863 $100 Interest Bearing Note. PCGS Currency Extremely Fine 45. Face Proof. From the Caine Collection Fr. 2411 (W-5650). 1928 $10,000 Gold Certi cate. PCGS Currency Gem New 66 PPQ. Face Specimen Proof. From the Caine Collection Fr. 346e (W-4581). 1891 $1000 Silver Certi cate. PCGS Currency Very Fine 25. From the Joel R. Anderson Collection Fr. 1166b (W-2196). 1863 $20 Gold Certi cate. PCGS Currency About New 50. From the Joel R. Anderson Collection Fr. 1218e (W-4620). 1882 $1,000 Gold Certi cate. PCGS Currency Very Fine 35. From the Joel R. Anderson Collection Fr. 186f (W-4510). 1869 $1000 Legal Tender Note. PCGS Currency About New 53. From the Joel R. Anderson Collection Fr. 199 (W-3245). 1863 $100 Interest Bearing Note. PCGS Currency Very Fine 30. From the Joel R. Anderson Collection We are pleased to present highlights from our U.S. currency o ering in the upcoming O cial Auction of the Whtiman Coin & Col- lectibles Spring Expo in Baltimore.  e sale will feature many important paper money o erings, led by the Joel R. Anderson Collec- tion, Part IV and the Caine Collection of Federal Proofs and Essays, Part II. Below are just a few spectacular highlights. Legendary Collections ? Legendary Results ? A Legendary Auction Firm Richmond, Virginia. Virginia Treasury Note. Sept. 25, 1861. $500. PMG Choice Very Fine 35. Terms?and?Conditions? PAPER MONEY (USPS 00-3162) is published every other month beginning in January by the Society of Paper Money Collectors (SPMC), 711 Signal Mt. Rd #197, Chattanooga, TN 37405. Periodical postage is paid at Hanover, PA. Postmaster send address changes to Secretary Jeff Brueggeman, 711 Signal Mtn.Rd,#197,Chattanooga,TN37405. ?Society of Paper Money Collectors, Inc. 2014. All rights reserved. Reproduction of any article in whole or part without written approval isprohibited. Individual copies of this issue of PAPER MONEY are available from the secretary for $8 postpaid. Send changes of address, inquiries concerning non - delivery and requests for additional copies of this issue to the secretary. PAPER?MONEY? Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol.LVIII, No. 1 WholeNo. 319 January/February 2019 ISSN 0031-1162 MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible, however publication in a specific issue cannot be guaranteed. Include an SASE if acknowledgement is desired. 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Benny Bolin, Editor Editor Email?smcbb@sbcglobal.net Visit the SPMC website?www.SPMC.org Series 1929 FRBNs Released During WWII Lee Lofthus, Jamie Yakes, Peter Huntoon ........................ 4 The 1935A $1 Silver Certificates Richard Weil ................................................................... 12 The Henderson National Bank of Huntsville, Alabama David Hollander .............................................................. 18 The Treasury Clerk Goes to War Nick Bruyer ........................................................................ 31 Series of 1928 $100 FRNs with Inverted Stars Peter Huntoon ............................................................. 38 New Hampshire Scrip-A Book Review Loren Gatch ................................................................ 41 Uncoupled?Joe Boling & Fred Schwan .................................. 44 Quartermaster Column?Michael McNeil ............................ 40 Obsolete Corner--Robert Gill ................................................ 42 Small Notes?R&S $1 1935A Experimentals ........................ 41 Cherry Pickers Corner?Robert Calderman ........................ 46 Chump Change--Loren Gatch ............................................... 49 President?s Message ........................................................... 45 New Members ....................................................................... 46 2018 Paper Money Index ..................................................... 63 Money Mart .............................................................................. 69 Statement of Ownership ..................................................... 71 Space 1Time 3 Times 6 Times Fullcolor covers $1500 $2600 $4900 B&W covers 500 1400 2500 Fullpagecolor 500 1500 3000 FullpageB&W 360 1000 1800 Halfpage B&W 180 500 900 Quarterpage B&W 90 250 450 EighthpageB&W 45 125 225 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 1 Society of Paper Money Collectors Officers and Appointees ELECTED OFFICERS: PRESIDENT--Shawn Hewitt, P.O. Box 580731, Minneapolis, MN 55458-0731 VICE-PRESIDENT--Robert Vandevender II, P.O. Box 2233, Palm City, FL 34991 SECRETARY--Jeff Brueggeman, 711 Signal Mtn., Rd. #197, Chattanooga, TN 37405 TREASURER --Bob Moon, 104 Chipping Court, Greenwood, SC 29649 BOARD OF GOVERNORS: Mark Anderson, 115 Congress St., Brooklyn, NY 11201 Robert Calderman, Box 7055 Gainesville, GA 30504 Gary J. Dobbins, 10308 Vistadale Dr., Dallas, TX 75238 Pierre Fricke, Box 1094, Sudbury, MA 01776 Loren Gatch 2701 Walnut St., Norman, OK 73072 Joshua T. Herbstman, Box 351759, Palm Coast, FL 32135 Steve Jennings, 214 W. Main, Freeport, IL 61023 J. Fred Maples, 7517 Oyster Bay Way, Montgomery Village, MD 20886 Michael B. Scacci, 216-10th Ave., Fort Dodge, IA 50501-2425 Wendell A. Wolka, P.O. Box 5439, Sun City Ctr., FL 33571 APPOINTEES: PUBLISHER-EDITOR--Benny Bolin, 5510 Springhill Estates Dr. Allen, TX 75002 EDITOR EMERITUS--Fred Reed, III ADVERTISING MANAGER--Wendell A. Wolka, Box 5439 Sun City Center, FL 33571 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 IMMEDIATE PAST PRESIDENT--Pierre Fricke WISMER BOOK PROJECT COORDINATOR--Pierre Fricke, Box 1094, Sudbury, MA 01776 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The Annual Meeting of the SPMC i s held in June at the International Paper Money Show. Information about the SPMC, including the by-laws and activities can be found at our website, www.spmc.org. .The SPMC does not does not endorse any dealer, company or auction house. MEMBERSHIP?REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP?JUNIOR. Applicants for Junior membership must be from 12 to 17 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preceded by the letter ?j? which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES?Annual dues are $39. Dues for members in Canada and Mexico are $45. Dues for members in all other countries are $60. Life membership?payable in installments within one year is $800 for U.S.; $900 for Canada and Mexico and $1000 for all other countries. The Society no longer issues annual membership cards, but paid up members may request one from the membership director with an SASE. Memberships for all members who joined the Society prior to January 2010 are on a calendar year basis with renewals due each December. Memberships for those who joined since January 2010 are on an annual basis beginning and ending the month joined. All renewals are due before the expiration date which can be found on the label of Paper Money. Renewals may be done via the Society website www.spmc.org or by check/money order sent to the secretary. Pierre?Fricke?Buying?and?Selling! 1861?1869?Large?Type,?Confederate?and?Obsolete?Money!? P.O. Box 1094, Sudbury, MA 01776 ; pierrefricke@buyvintagemoney.com; www.buyvintagemoney.com And many more CSA, Union and Obsolete Bank Notes for sale ranging from $10 to five figures ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 2 For more information about consigning to Kagin?s upcoming 2019 auctions contact us at : kagins.com, by phone: 888-852-4467 or e-mail: Nina@kagins.com. Contact Nina@Kagins.com or call 888.8Kagins to speak directly to Donald Kagin, Ph.D. who will arrange to visit you and appraise your collecti on free and without obligati on. Let Kagin?s tell your personal numismatic story and create a lasting legacy for your passion and accomplishments! RECORD PRICES REALIZ ED! 99% Sell Through National Bank Note Collection Experience the Kagin?s Di erence: - 0% Seller?s Fee - Unprecedented up to 6 months of Marketing and Promotion of your consignment - Innovative marketing and research as we did with the ?Saddle Ridge Hoard Treasure? and the 1783 Quint?The  rst American coin - Groundbreaking programs including the  rst ever Kagin?s Auctions Loyalty Program that gives buyers 1% back in credit - Free educational reference books and memberships The Joel Anderson Collection of the #1 Registry Set of Treasury Notes of the War of 1812: The First circulating U.S. Bank Note The Carlson Chambliss Collection: Fractional Currency Collection New Zealand Currency Collection Israeli Currency Collection Encased Postage Stamps Mexican Bank Note Collection March 28-30, 2019 David L. Lawrence Convention Ctr, Pittsburgh, PA Consignment Deadline: December 31, 2018 Limited Space Available for your consignment alongside these: Last Chance to Consign with the O cial Auctioneer of the ANA National Money ShowsTM Kagins-PM-Ad NMS-Cons-12-15-18.indd 1 12/12/18 2:30 PM Series of 1929 Federal Reserve Bank Notes released during WW II Data on 1942 agent-held stocks discovered! Lee Lofthus, Jamie Yakes and Peter Huntoon Overview and Purpose The Federal Reserve Banks released almost $660 million in new and fit Series of 1929 Federal Reserve bank notes during World War II that represented more than two-thirds of the printing of that series (Huntoon and Lofthus, 2010). $450,800,000 of this amount was new notes in storage at the Bureau of Engraving and Printing (BEP) and $208,897,500 in residual stocks held by the Federal Reserve agents at the various Federal Reserve banks. The latter consisted of previously unissued new notes as well as fit notes that had been withdrawn from circulation during the 1930s. Huntoon and Lofthus presented data pertaining to the unissued stocks in storage at the BEP that were broken down by bank and denomination, but they had only aggregate totals for the stocks held by the various Federal Reserve agents, except for Dallas and San Francisco, which came respectively from Gilbert (Jan 31, 1935) and Parker (Aug. 20, 1952). This left a gap in our ability to pin down exactly what was issued from the series during the war. That gap finally is plugged. Jamie Yakes discovered an accounting document that provides a breakdown by bank and denomination of the notes held by the Federal Reserve agents on December 1, 1942 before the WW II releases (Rusch, Dec. 16, 1942). By combining this new information with our available knowledge of the inventory held at the BEP, we can now present a detailed profile of the WW II releases, which were made during 1942-1943. The clarity that results reveals why certain 1929 FRBNs are rare and others unexpectedly common. Figure 1. No $5 Minneapolis 1929 FRBNs were among the unissued stocks held by the Bureau of Engraving and Printing at the outset of WW II, leading us to assume that all of those notes were issued in 1933-4. However, newly discovered data reveals that the Minneapolis Federal Reserve agent held 158,000 of the notes until 1942 that were released during the war, probably including this high-serial number example. Heritage Auction archives photo. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 4 The purpose of this article is to synthesize all the available data into one table in order to provide a comprehensive view of the Series of 1929 FRBNs that ultimate were released during the war. See Table 1. Role of the Federal Reserve Agent Federal Reserve bank notes, like Federal Reserve notes, were issued on the authority of the Federal Reserve agent at each bank. The agent is the chairman of the board of directors of the bank and as such holds and manages stocks of new notes printed for his bank by the BEP, and stocks of fit circulated notes of his bank that have been formally redeemed. These stocks are not counted as being in circulation. Only upon deposit of appropriate collateral can the notes be released by him to the bank for its use. After the 1933-4 monetary crisis had passed, the Federal Reserve agents were left holding unissued stocks of new Series of 1929 FRBNs notes as well as fit 1929 notes from their bank that had been withdrawn from circulation. This large reservoir of notes simply took up space in their vaults. In addition, the BEP had large stocks of the notes that had not been requisitioned by the twelve agents, so those stocks occupied vault space at the BEP in Washington. Brief History The Series 1929 FRBNs were an emergency currency created virtually overnight in March 1933 that was pressed into circulation over a short period in 1933-4 during the worst of the Great Depression. The intent was to provide an injection of currency into the depression economy in order to provide additional liquidity to strapped commercial banks and to stimulate the economy. They were designed in part to offset currency removed from circulation due to hoarding by the public. The notes were backed by commercial paper held by the Federal Reserve banks that was deposited with them from commercial banks throughout the country. The total printing of the notes was $911,700,000. However, only 31.2 percent of the them were released during 1933-4. A severe shortage of Federal Reserve Notes developed in the booming wartime economy during 1942, which caused Chester Morrill, who was secretary of the Federal Reserve Board, to recommend to Secretary of the Treasury Henry Morgenthau that the dormant stocks of FRBNs be pressed into circulation until the BEP could roll out adequate supplies of new FRNs. The available stocks of the 1929 notes was in excess of $650 million (Morrill, Nov 20, 1942). Use of the FRBNs offered advantages. First, because they were available, they would immediately relieve pressure on the BEP to print new notes at a time when the BEP was laboring under unprecedented workloads. Second, their use would save over $300,000 in printing costs for an equivalent amount of FRN notes. Third, there still were FRBNs in circulation from the 1933-4 issues so the public was reasonably familiar with them. Undersecretary of the Treasury Daniel W. Bell advised Morrill on December 7, 1942 to notify the Federal Reserve Board that Morgenthau approved the plan (Bell, Dec 7, 1942). The Board issued a press release December 12th, advising the nation?s banks and public that the old notes were being released as a war-time economy measure. The New York Times announced the plan cautioning the public that old notes may look unfamiliar but that they were perfectly good. ?The reason for dusting off this old paper money is to relieve the burden of the Bureau of Engraving in the nation?s capital. Money in circulation crossed the unprecedented level of $15,000,000,000 last week, and the demand, at the moment, seems wellnigh insatiable? (NYT, Dec 20, 1942). The Federal Reserve banks rapidly deployed the FRBNs held in their vaults by their agents. The impact was immediate. Approximately $18 million in FRBNs from 1933-4 were still in circulation in November 1942 (Federal Reserve Bulletin, Feb 1943, p. 153). Over $188 million in FRBNs were injected into circulation in December 1942 over a period of a little more than two weeks. By June 1943, over $584 million were in circulation, and at the war?s end, $517 million remained in circulation (Pritchard, 1947, p. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 5 160, based on monthly Federal Reserve Bulletins). This money-saving accomplishment was not without controversy. Conservative members of Congress decried the notes as inflationary. Powerful Republican Senator Robert Taft of Ohio challenged their legality and immediately introduced a bill to withdraw them from circulation. Senior Treasury officials staunchly defended their use as entirely legal and fended off draconian legislation against their use. Nonetheless, in 1945, after the furor had subsided, neither Treasury nor the Federal Reserve banks objected when a bill was passed June 12, 1945 that withheld the authority for the Federal Reserve banks to issue FRBNs in the future. Pre-War Destruction of some Federal Reserve Bank Note Stocks The WW II issues of the 1929 FRBNs almost didn?t happen. From 1934 onward, stocks of the 1929 FRBNs lay dormant in the vaults of the Federal Reserve Banks and the BEP. Seven months before Pearl Harbor, in April 1941, Liston P. Bethea, an Assistant Secretary with the Federal Reserve Board of Governors, wrote each of the twelve Federal Reserve banks to advise that the Board was looking ahead to the country?s economic expansion (Bethea, Apr 25, 1941). Bethea wanted to ensure that the banks had adequate vault space to accommodate the growth of the volume of currency that was coming their way as the U.S. became Franklin Roosevelt?s arsenal of democracy. Bethea said there seemed little likelihood that the 1929 FRBNs would ever be used, so if the banks desired to cancel and send their dormant stocks to Washington for destruction ?the Board will interpose no objection.? Then, in an odd mixed-message, Bethea closed his communication saying the Treasury had no plans to cancel the FRBNs held by the BEP in Washington ?at this time.? Prior to the discovery of the December 1942 accounting, the only evidence we had that any of the Federal Reserve banks took up the Board?s offer to redeem their dormant 1929 stocks was a mass redemption by the Federal Reserve Bank of Cleveland. That bank canceled $10,124,515 of its agent-held $5s, $50s and $100s. The agent actually sent in 720,000 notes totaling $10,125,000, but upon verification by the Treasury?s Federal Reserve Issue and Redemption Division, 74 notes totaling $485 were found that were issued by other Federal Reserve or national banks! Those notes could not be credited to the Cleveland FRBN account (Rusch, May 8, 1941). Key Findings Table 1 is a combined listing of the notes held by the BEP and the twelve Federal Reserve agents on December 1, 1942. The agent-held stock totals $208,897,500, which balances with previously reported Figure 2. Over $18 million in Cleveland FRBNs of various denominations held by the Cleveland Federal Reserve agent since 1933 were sent to Washington for destruction the first week of May, 1941. However, the BEP held eighty-five percent of the Cleveland $100s until releasing them during WW II, explaining their availability today. Heritage Auction archives photo. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 6 summary data in Huntoon and Lofthus (2010). The agent-held bank-by-bank breakdowns by denomination are new. All of these notes were pressed into circulation during WW II. The following are but a few of the revelations on Table 1. ? Cleveland: The Federal Reserve Bank of Cleveland redeemed 719,926 of its 1929 FRBNs totaling $10,124,515 in a single mass redemption in early May, 1941. This represented all of its agent-held notes. Nonetheless, the BEP-vault supply of Cleveland notes released during WW II remained large, roughly 44% of the original printing. ? St. Louis: No $5 St. Louis FRBN notes were held as agent-stock going into WW II. We can now confirm that the small printing of 276,000 fives was entirely issued during the depression, readily explaining why they are so scarce today. ? Dallas: One of the biggest revelations in the December 1, 1942 data was that the Federal Reserve bank of Dallas redeemed all of its agent-held $18,957,750 stock of 1929 FRBNs before World War II. This loss severely diminished the survival of the Dallas notes. ? San Francisco: unexpectedly, the December 1, 1942 data reveal that the San Francisco Federal Reserve bank had 62,000 agent-held fit $5 notes on hand. Numismatic Breakthroughs The new information on agent-held stocks materially changes previously published findings by Huntoon and Lofthus (2010) and Lofthus (2015) pertaining to the WW II releases of the Series of 1929 FRBNs. The following are the most notable new insights. ? Dallas: Only the first 13,200 of the 144,000 $50 notes sent to Dallas in 1933 were issued. Consequently, 130,800 $50s were held in new condition by the Dallas agent. By counting the stock held by the agent on January 30, 1935 plus the BEP vault stock, it appeared that 92 percent of the $50s were available for release in WW II, a finding that implies that they should be as common as $50s from Cleveland or Kansas City. Yet the Dallas $50s are scarce and known serial numbers are predominantly from the last 24,000 released in WW II plus a handful from the original release of 13,200 in 1933-4. We now know that the entire intervening group of 130,800 notes was destroyed along with 7,505 fit circulated notes before the war. The result is that the Dallas $50s constitute significant finds, particular those from the first 13,200 issued in 1933-4. ? San Francisco: The small printing of 360,000 $5 San Francisco notes created a rarity for collectors. Figure 3. The first 13,200 Dallas $50s were released in 1933-4. This note was a WW II issue from the BEP?s stock of the last 24,000 notes, serial numbers K00144001A to K00168000A. Agent-held serials K00013201A to K00144000A were destroyed sometime between January 30, 1935 and December 1, 1942. Heritage Auction archives photo. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 7 All were issued in 1933-4 (Parker, Aug 20, 1952) and most circulated to oblivion. The newly discovered accounting reveals that the San Francisco Federal Reserve agent held 62,000 fit $5s from the bank on December 1, 1942, which had been withdrawn from circulation in the 1930?s. San Francisco $5s would be practically unobtainable had those lightly circulated notes not been frugally sorted out and saved by the agent during the waning days of the Great Depression. Numismatic Perspective Like most small size note collectors, the three of us love the Series of 1929 FRBNs. The draw of the series is the provisional appearance of the notes that speaks to their origin as an emergency issue during the darkest days of the Great Depression. Learning that the last of them?actually the largest number of them?were released during WW II to overcome a temporary shortage of Federal Reserve Notes only adds to their appeal. Every generation of small note collector before us has shared this same enthusiasm beginning with the likes of George Blake, Col. Edward Green and Albert Grinnell who avidly pursued the low numbers in the series when the notes were first released. The market knew the rarities and scarcities within the issue well before we came along, but outside of reported production totals available from the annual reports of the Director of the Bureau of Engraving and Printing, we numismatists had little insight as to why certain of the varieties were scarce or rare and why others from small printings were common. Lead author Lofthus has actively pursued data pertaining to these issues in various Treasury record groups now held at the National Archives along with collaborators Peter Huntoon and Jamie Yakes to more fully understand these fascinating issues. Each time he or one of the other of us uncovers some crucial record that improves our vision, we rushed the results to press much to everyone?s delight. Our work at the archives is akin to peeling the layers of an onion. Jamie?s discovery of the 1942 accounting ranks as the biggest breakthrough in allowing us to fully comprehend the scope of what was in the WW II releases. Military currency collectors embrace the WW II FRBNs as a special type of war-related ?emergency? issue so they have been hounding us for decades to provide as much information as we can as to which serials can be certifiably attributed to the WW II releases. We feel that the notes held by the BEP until WW II that are listed on Table 2 rank as the ?purest? of the WW II releases for their purposes. Our position is that had it not been for the war, those notes never would have come out. In contrast, all the others that survived in the hands of the various Federal Reserve agents until WW II, whether new or fit, had been specifically sent to the Federal Reserve banks during the Great Depression to serve that earlier need. We conveniently labeled the BEP-held group remainders on Table 2. They certainly constitute an exciting group of notes in their own right. For example, salted away among them were three groups that had never been released during the Great Depression, i.e., the entire issue of the $50 Chicago notes, and the entire issues of the $50 and $100 Minneapolis notes. Consequently, the first notes of each of these three groups to appear during WW II bore serial number 00000001. References Cited and Sources of Data Bell, Daniel W., Undersecretary of the Treasury, Dec 7, 1942, Letter advising Secretary of the Federal Reserve Board Chester Morrill to notify the Federal Reserve Board that Secretary of the Treasury Henry Morgenthau approved the plan to utilize 1929 FRBNs to alleviate a currency shortage during World War II: Record Group 53, Records of the Bureau of Public Debt, 53/450/54/01/3 Box 3 file K232.1 IDF. U. S. National Archives, College Park, MD. Bethea, Liston P., Assistant Secretary to the Board of Governors of the Federal Reserve System, April 25, 1941, Letter notifying the presidents of the banks that the board had no objection to them returning stocks of 1929 FRBNs in the hands of the Federal Reserve agents for destruction: Record Group 82, Records of the Federal Reserve System, Board of Governors, Central File 1913-1954, 82/450/65/1/2 box 2619, file 620.4 U. S. National Archives, College Park, MD. Bureau of Public Debt, Treasury Department, Record of decisions relating to the release of Series of 1929 Federal Reserve Bank Notes during WW II: Record Group 53, Records of the Bureau of Public Debt, 53/450/54/01/3 Box 3 file K232.1 IDF. U. S. National Archives, College Park, MD. Board of Governors, Dec 12, 1942, Statement for the Press regarding release of Federal Reserve Bank notes printed in the early Thirties: Record Group 53, Records of the Bureau of Public Debt, 53/450/54/01/3 Box 3 file K232.1 IDF. U. S. National Archives, College Park, MD. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 8 Federal Reserve Bulletin, monthly 1933-1946, Federal Reserve Board at Washington, U. S. Government Printing Office, Washington, DC. Gilbert, Robert Randle, Dallas Federal Reserve agent, Jan 31, 1935, Correspondence to Dallas Federal Reserve Bank governor Buckner A. McKinney entitled ?Federal reserve bank notes on hand:? Record Group 82, Records of the Federal Reserve System, Board of Governors, Central File 1913-1954, 82/450/65/1/2 box 2619, file 623, U. S. National Archives, College Park, MD. Huntoon, Peter, and Lee Lofthus, Jan-Feb 2010, The WW II issuance of Series of 1929 Federal Reserve Bank Notes: Paper Money, v. 49, p. 12-22. Lofthus, Lee, Mar-Apr 2015, Series of 1929 Dallas Federal Reserve Bank Notes Revealed: Paper Money, v. 54, p. 107-113. Morrill, Chester, Secretary, Board of Governors of the Federal Reserve System, November 20, 1942. Letter to Treasury Secretary Henry Morgenthau suggesting use of vault stocks of 1929 Federal Reserve bank notes to address currency shortages and ease BEP workload: Record Group 53, Records of the Bureau of Public Debt, 53/450/54/01/3 Box 3 file K232.1 IDF. U. S. National Archives, College Park, MD. Morrill, R. H., Assistant Vice President, San Francisco Federal Reserve Bank, August 20, 1952, Letter to John Tainter regarding the dollar values of Series of 1929 Federal Reserve Bank Notes issued by the San Francisco Federal Reserve Bank during the banking emergency of 1933-4 and 1942: Federal Reserve Bank of San Francisco FOIA release to L. Lofthus, August 2009. New York Times, Dec 20, 1942, Banknotes of ?33 to be circulated: Financial p. 1, 3. Oakes, Dean, 2001, Brown Seals, The Currency of 1933, Picture Primer of Federal Reserve Bank Notes: Privately printed, Iowa City, IA, 56 p. Parker, Federal Reserve Bank of San Francisco official, August 20, 1952, memorandum to R. H. Morrill, Assistant Vice President, FRB of SF identifying the Series of 1929 Federal Reserve Bank Notes issued from the San Francisco Federal Reserve Bank during the banking emergency of 1933-4 and 1942: Federal Reserve Bank of San Francisco FOIA release to L. Lofthus, August 2009. Pritchard, Leland J., Apr 1947, The Federal Reserve Bank Note: The Journal of Political Economy, University of Chicago Press, v. 55, no. 2, p. 157-166. Rusch, W. J., Chief, Comptroller of the Currency, Federal Reserve Issue and Redemption Division, May 8, 1941, Letter to E. L. Smead, Chief, Division of Bank Operations, Board of Governors, Federal Reserve System, Washington, DC, regarding destruction of Cleveland FRBNs and errors in redemption count: Record Group 82, Records of the Federal Reserve System, Board of Governors, Central File 1913-1954, 82/450/65/1/2 box 2619, file 620.4 U. S. National Archives, College Park, MD. Rusch, W. J., Chief, Comptroller of the Currency, Federal Reserve Issue and Redemption Division, Dec 16, 1942, Letter with spreadsheet entitled ?Statement showing the total number of 1929 Series Federal Reserve Bank Notes on hand at Washington and Agent?s stock as of December 1, 1942, by bank and denomination:? Record Group 82, Records of the Federal Reserve System, Board of Governors, Central File 1913-1954, 82/450/65/1-/1- box 2618, file 620.3, U. S. National Archives, College Park, MD. Table 1. BEP and Agent Vault Stock of 1929 Federal Reserve Bank Notes as of December 1, 1942. Boston $5 $10 $20 $50 $100 Total total printed 3,180,000 1,680,000 972,000 none none 5,832,000 held by BEP on Dec 1, 1942 1,004,000 500,000 252,000 1,756,000 % held by BEP on Dec 1, 1942 31.57% 29.76% 25.93% 30.11% new and fit held by Agent on Dec 1, 1942 800,000 720,000 280,000 1,800,000 % of total printing available on Dec 1, 1942 56.73% 72.62% 54.73% 60.97% face value held by Agent on Dec 1, 1942 $4,000,000 $7,200,000 $5,600,000 $16,800,000 New York total printed 2,100,000 5,556,000 2,568,000 636,000 480,000 11,340,000 held by BEP on Dec 1, 1942 172,000 2,732,000 900,000 132,000 228,000 4,164,000 % held by BEP on Dec 1, 1942 8.19% 49.17% 35.05% 20.75% 47.50% 36.72% new and fit held by Agent on Dec 1, 1942 1,135,900 1,921,700 1,009,800 357,945 160,645 4,585,990 % of total printing available on Dec 1, 1942 62.28% 83.76% 74.37% 77.04% 80.97% 77.16% face value held by Agent on Dec 1, 1942 $5,679,500 $19,217,000 $20,196,000 $17,897,250 $16,064,500 $79,054,250 Philadelphia total printed 3,096,000 1,416,000 1,008,000 none none 5,520,000 held by BEP on Dec 1, 1942 820,000 380,000 692,000 1,892,000 % held by BEP on Dec 1, 1942 26.49% 26.84% 68.65% 34.28% new and fit held by Agent on Dec 1, 1942 562,000 469,825 135,000 1,166,825 % of total printing available on Dec 1, 1942 44.64% 60.02% 82.04% 55.41% face value held by Agent on Dec 1, 1942 $2,810,000 $4,698,250 $2,700,000 $10,208,250 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 9 Cleveland $5 $10 $20 $50 $100 Total total printed 4,236,000 2,412,000 1,020,000 684,000 276,000 8,628,000 held by BEP on Dec 1, 1942 2,004,000 1,008,000 76,000 476,000 236,000 3,800,000 % held by BEP on Dec 1, 1942 47.31% 41.79% 7.45% 69.59% 85.51% 44.04% new and fit held by Agent on Dec 1, 1942 none none none none none none % of total printing available on Dec 1, 1942 47.31% 41.79% 7.45% 69.59% 85.51% 44.04% face value held by Agent on Dec 1, 1942 none none none none none none Richmond total printed none 1,356,000 1,632,000 none 192,000 3,180,000 held by BEP on Dec 1, 1942 1,084,000 1,080,000 156,000 2,320,000 % held by BEP on Dec 1, 1942 79.94% 66.18% 81.25% 72.96% new and fit held by Agent on Dec 1, 1942 164,000 376,000 36,000 576,000 % of total printing available on Dec 1, 1942 92.04% 89.22% 100.00% 91.07% face value held by Agent on Dec 1, 1942 $1,640,000 $7,520,000 $3,600,000 $12,760,000 Atlanta total printed 1,884,000 1,056,000 960,000 none none 3,900,000 held by BEP on Dec 1, 1942 1,008,000 588,000 776,000 2,372,000 % held by BEP on Dec 1, 1942 53.50% 55.68% 80.83% 60.82% new and fit held by Agent on Dec 1, 1942 470,000 228,000 108,000 806,000 % of total printing available on Dec 1, 1942 78.45% 77.27% 92.08% 81.49% face value held by Agent on Dec 1, 1942 $2,350,000 $2,280,000 $2,160,000 $6,790,000 Chicago total printed 5,988,000 3,156,000 2,028,000 300,000 384,000 11,856,000 held by BEP on Dec 1, 1942 3,876,000 2,344,000 1,236,000 300,000 108,000 7,864,000 % held by BEP on Dec 1, 1942 64.73% 74.27% 60.95% 100.00% 28.13% 66.33% new and fit held by Agent on Dec 1, 1942 171,000 179,000 402,000 none 216,300 968,300 % of total printing available on Dec 1, 1942 67.59% 79.94% 80.77% 100.00% 84.45% 74.50% face value held by Agent on Dec 1, 1942 $855,000 $1,790,000 $8,040,000 none $21,630,000 $32,315,000 St. Louis total printed 276,000 1,584,000 444,000 none none 2,304,000 held by BEP on Dec 1, 1942 none 212,000 252,000 464,000 % held by BEP on Dec 1, 1942 13.38% 56.76% 20.14% new and fit held by Agent on Dec 1, 1942 none 296,000 184,000 480,000 % of total printing available on Dec 1, 1942 32.07% 98.20% 40.97% face value held by Agent on Dec 1, 1942 none $2,960,000 $3,680,000 $6,640,000 Minneapolis total printed 684,000 588,000 864,000 132,000 144,000 2,412,000 held by BEP on Dec 1, 1942 none 188,000 564,000 132,000 144,000 1,028,000 % held by BEP on Dec 1, 1942 31.97% 65.28% 100.00% 100.00% 42.62% new and fit held by Agent on Dec 1, 1942 158,000 256,000 181,000 none none 595,000 % of total printing available on Dec 1, 1942 23.10% 75.51% 86.23% 100.00% 100.00% 67.29% face value held by Agent on Dec 1, 1942 $790,000 $2,560,000 $3,620,000 none none $6,970,000 Kansas City total printed 2,460,000 1,284,000 612,000 276,000 96,000 4,728,000 held by BEP on Dec 1, 1942 1,804,000 284,000 356,000 256,000 84,000 2,784,000 % held by BEP on Dec 1, 1942 73.33% 22.12% 58.17% 92.75% 87.50% 58.88% new and fit held by Agent on Dec 1, 1942 none 528,000 none none none 528,000 % of total printing available on Dec 1, 1942 73.33% 63.24% 58.17% 92.75% 87.50% 70.05% face value held by Agent on Dec 1, 1942 none $5,280,000 none none none $5,280,000 Dallas total printed 996,000 504,000 468,000 168,000 36,000 2,172,000 Issued to circulaton 1933-4 996,000 504,000 352,000 13,200 13,000 1,878,200 new held by Agent in 1935 none none 32,000 130,800 11,000 173,800 held by BEP on Dec 1, 1942 none none 84,000 24,000 12,000 120,000 % held by BEP on Dec 1, 1942 17.95% 14.29% 33.33% 5.52% fit held by Agent in 1935 602,650 274,700 183,700 9,860 7,505 1,078,415 new and fit held by Agent in 1935 602,650 274,700 215,700 140,660 18,505 1,252,215 face value held by Agent in 1935 $3,013,250 $2,747,000 $4,314,000 $7,033,000 $1,850,500 $18,957,750 new and fit held by Agent on Dec 1, 1942 none none none none none none % of total printing available on Dec 1, 1942 17.95% 14.29% 33.33% 5.52% face value held by Agent on Dec 1, 1942 none none none none none none San Francisco total printed 360,000 1,080,000 888,000 576,000 none 2,904,000 held by BEP on Dec 1, 1942 none 480,000 none 224,000 704,000 % held by BEP on Dec 1, 1942 44.44% 38.89% 24.24% new and fit held by Agent on Dec 1, 1942 62,000 307,000 555,000 352,000 1,276,000 % of total printing available on Dec 1, 1942 17.22% 72.87% 62.50% 100.00% 68.18% face value held by Agent on Dec 1, 1942 $310,000 $3,070,000 $11,100,000 $17,600,000 $32,080,000 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 10 Table 2. Series of 1929 FRBN remainders in the BEP vault that were shipped for use during WW II. District $5 $10 $20 $50 $100 Boston A02176001A-A03180000A A01180001A-A01680000A A00720001A-A00972000A New York B01928001A-B02100000A B02824001A-B05556000A B01668001A-B02568000A B00504001A-B00636000A B00252001A-B00480000A Philadelphia C02276001A-C03096000A C01036001A-C01416000A C00316001A-C01008000A Cleveland D02232001A-D04236000A D01404001A-D02412000A D00944001A-D01020000A D00208001A-D00684000A D00040001A-D00276000A Richmond E00272001A-E01356000A E00552001A-E01632000A E00036001A-E00192000A Atlanta F00876001A-F01884000A F00468001A-F01056000A F00184001A-F00960000A Chicago G02112001A-G05988000A G00812001A-G03156000A G00792001A-G02028000A G00000001A-G00300000A G00276001A-G00384000A St. Louis none H01372001A-H01584000A H00192001A-H00444000A Minneapolis none I00400001A-I00588000A I003000001A-I00864000A I00000001A-I00132000A I00000001A-I00144000A Kansas City J00656001A-J02460000A J01000001A-J01284000A J00256001A-J00612000A J00020001AJ00276000A J00012001A-J00096000A Dallas none none K00384001A-K00468000A K00144001A-K00168000A K00024001A-K00036000A San Francisco none L00600001A-L01080000A none L00352001A-L00576000A All Banks $5 $10 $20 $50 $100 Total total printed 25,260,000 21,672,000 13,464,000 2,772,000 1,608,000 64,776,000 held by BEP on Dec 1, 1942 10,688,000 9,800,000 6,268,000 1,544,000 968,000 29,268,000 % held by BEP on Dec 1, 1942 42.31% 45.22% 46.55% 55.70% 60.20% 45.18% new and fit held by Agent on Dec 1, 1942 3,358,900 5,069,525 3,230,800 709,945 412,945 12,782,115 % of total printing available on Dec 1, 1942 55.61% 68.61% 70.55% 81.31% 85.88% 64.92% Join us at F.U.N. 2019 All new speaker series Friday 0830-1230 RoomW304F Topics Include: **National Banknotes **Small Size Note Collecting **The Fall of New Orleans **Counterfeit Confederate Money Saturday 0830--SPMC meeting Room W303B ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 11 The 1935A $1 Silver Certificate: One Bill with 5 Varieties by Richard Weil After Franklin Roosevelt became president in March, 1933, there were big changes in numismatics. Gold was withdrawn from circulation, but as the economy picked up so did the production of silver and copper coins. In currency Gold Certificates also vanished, soon to be followed by the National Bank Notes. The gap they left was filled by an outpouring of new paper money. While some U.S. Notes were issued, and Federal Reserve Notes were made in most denominations, it was the common Silver Certificate dollar that was printed in huge numbers. Through more than half the Roosevelt Administration one of these notes, the 1935A, was to meet the nation?s demand for dollar bills. On the left side of the bill is the signature of the Treasurer, William Alexander (?W.A.?) Julian. Born on a Kentucky farm, he began as a shoe salesman then worked his way up from bank clerk to president. After a failed run for the U.S. Senate he returned to business until Roosevelt persuaded him to join the Treasury. In May, 1933 he took over from Walter Woods, the Hoover Administration holdover. The size of currency paper had been reduced in 1928 and, as usual until the 1970s, only a major alteration in design would change the date of a series. A new signature would simply add a letter below the year. Accordingly, Julian?s name first appeared on the 1928D dollar. While Julian had grown up poor, the man whose name appeared on the right, Secretary of the Treasury Henry Morgenthau Jr., was from a wealthy family. The son of a prominent diplomat, and an agricultural expert who had headed the Federal Farm Board, at the start of 1934 he replaced the ailing William Woodin. The 1928E was the first dollar bill to pair Julian and Morgenthau. Records are missing but it is estimated that only 3.5 million were printed. This small production makes it the key to the Silver Certificate series. The bill had a short run because the dollar?s obverse was soon changed, creating the common 1934 note. While the new bill ended the promise to pay in silver dollars, that metal was still needed by the Treasury to back the notes, and the easiest way was to resume production of Peace dollars. For collectors of this series that created an additional two years of coins. The 1928E bill is the first pairing of Julian and Morgenthau. It is also the key to the Silver Certificate dollar series. Photo courtesy of National Numismatic Collection at the Smithsonian Institution. The single year 1934 note was the last to use the ?Funnyback? design. Photo courtesy of National Numismatic Collection at the Smithsonian Institution. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 12 A year later it was the reverse?s turn to get a makeover. With these 1935 notes the ornate ?funnyback? dollar bill ended, replaced with the familiar Great Seal design. Finally, in 1938 plate numbers were enlarged and the date, which had been in two corners, was placed only to the right of the portrait. These changes created the 1935A, the first dollar to have a design that is close to what we use today. With the economy slowly improving, dollar bills were produced in huge numbers. Since until 1953 old plates (technically logotypes) were mixed with new ones and used until they wore out, exact production figures are not always known. But it has been estimated that the 1935A?s printing topped 6.1 billion. Since the entire run of all 1935-dated bills totaled just over 23 billion, this was more than a quarter of the series. But the other 1935 issues were made in substantial numbers too and none of them, unless in exceptional condition, are worth much more than face value. Star notes, made to replace bills damaged in production, have slightly higher value, but for all 1935 issues they too are common. If not for World War II the 1935A, like the bills that followed, would have just been part of an easily collectible set. Change came with the war. After the December 7, 1941, attack on Pearl Harbor there was fear that Hawaii would be invaded. If this happened a major concern was that the Japanese would capture and spend U.S. dollars. To end the risk of having America?s money turned against the country, in January, 1942, virtually all currency in the islands was recalled, leaving only small amounts for immediate needs. On June 25th new currency, with HAWAII prominently printed on the reverse, and in smaller capitals twice on the obverse, was issued. The bills also had distinctive brown serial numbers and Treasury seals, reminiscent of the National and Federal Reserve Bank Notes of past years. If large amounts were captured they would be easy to demonetize. By mid-August no other currency could be used in Hawaii. Four denominations were issued, although only the 1935A dollar was a Silver Certificate, the $5, $10, and $20 bills being Federal Reserve Notes. Through the end of production in 1944 35,052,000 dollar bills were printed. Starting in 1943 the notes were paid to troops in the Pacific Theater, and the bills spread with them from island to island. Many were saved as souvenirs. Today in worn condition they sell in the $20 range, in high grade for about ten times that. Much scarcer are the HAWAII star notes, with an estimated printing of only 204,000. Typically a well circulated star note sells for about what a high grade regular bill costs. Half a world away the United States was fighting another enemy, and the dollar bill changed again. Since Military Payment Certificates did not come into use until after the war, there was concern that the Germans would capture money given to the soldiers and sailors. Before the November 8, 1942, landings in Casablanca and Oran troop payments were made with Silver Certificates bearing distinctive yellow Treasury seals. Surprisingly they had no other markings, and even the serial numbers stayed blue. Nevertheless, the 1935A has the distinction of being the only dollar printed with three different Treasury seal colors. A total of 17,012,000 regular 1935A North African dollar bills were printed, plus 144,000 star notes. $5 and $10 Silver Certificates were also produced, and only the series 1934 $10 bill is scarce. The notes were widely used in North Africa and Sicily, but by the time the 1943 landings in Italy occurred troops were being issued Allied Military Government bills. Totally different in appearance and valued in the local currency, similar money was issued for the 1944 invasions of France. Many of the yellow seal notes were kept, and a used $1 1935A North Africa bill goes for only a few dollars more than a HAWAII one in comparable condition. Because of their smaller printing, yellow seal star notes are slightly more expensive than brown ones. During World War II HAWAII notes were used in the Pacific Theater. If captured they could be demonetized and so made worthless to the Japanese. Photo courtesy of National Numismatic Collection at the Smithsonian Institution.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 13 Anyone who lived through World War II can attest to shortages on the home front. In coinage the demand for war materials meant that the five cent coin was made with silver but not nickel, and in 1943 the cent was made of zinc instead of copper. Currency paper also had its own substitutions. Testing new paper compositions had been done before. Since 1925 the Bureau of Standards had been experimenting with different mixtures. Some of this work had reached the level of field trials. In 1933 Silver Certificate series 1928A and 1928B dollars were released with the serial number blocks (first and last letters) ?X-B? and ?Y-B? made of experimental paper, while ?Z-B? was used as a control group. This was a nationwide test of 31.2 million bills, and was repeated in 1937 using series 1935 dollar bills in the ?A-B?, ?B-B?, and control ?C-B? blocks. This time 12.8 million notes were circulated. Neither of these trials produced conclusive results. Since the linen used in currency paper was imported from Europe, when the war began in 1939 it was critical to find a substitute. A third and much less well known test of circulating currency was conducted in 1940, this time with 1935A dollars. The Chicago office of the Federal Reserve released 720,000 each of experimental ?X-B? and ?Y-B? blocks, plus 576,000 control ?Z-B? bills. These notes seemed to circulate well, and while no conclusive results are known, during the war the linen content of currency was reduced. Experiments continued on how best to change the formula for currency paper. At the Bureau of Standards two scientists, Fredrik Carson and Merle Shaw, tested dozens of blends. They concluded that a mixture of caroa fiber, cotton, and melamine resin had the best wearing and folding qualities. Separate from this work, in June, 1944, yet another test of circulating currency was conducted by the Treasury Department. Once again the 1935A dollar was used. A very time consuming part of the 1940 experiment had required Federal Reserve officials to look at each incoming note?s serial number, and then pick out the experimental and control bills. This time, to make the process easier the bills were clearly marked. Notes with synthetic paper were given a large red ?S? on the obverse to the right of the Treasury seal, while the regular control ones received an ?R? in the same place. For each variety 1,184,000 standard and 12,000 star notes were printed. Yellow seal notes were used by US troops in North Africa and Sicily. If captured by German forces they could have been demonetized. Photo courtesy of National Numismatic Collection at the Smithsonian Institution.? As an experiment, $1,184,000 in ?Synthetic? paper was released. The ?S? made it easy to find the notes in circulation. Photo courtesy of National Numismatic Collection at the Smithsonian Institution.? A good experiment needs a control. $1,184,000 ?Regular? paper notes were simultaneously. Photo courtesy of National Numismatic Collection at the Smithsonian Institution.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 14 Not surprisingly, the experiment failed. The number of bills was small to begin with, and the public immediately began to remove the unusual notes. The result was that too few were returned for the experimenters to reach a statistically significant conclusion. Because they differ from regular bills only by their serial numbers, the earlier experimental bills are primarily of interest to currency specialists. Still readily available to collectors, in used condition they command relatively small premiums, making them roughly comparable in price to the HAWAII and North African notes. Not so the ?R? and ?S? bills. Today they are in considerable demand, each selling for nearly $100 in very used condition, and about $1000 if uncirculated. Star experimental notes, the rarest type of any 1935A bills, are considerably more expensive. Because of these prices some ordinary 1935A bills have been altered by adding a red letter to them, and it is important for buyers to know the correct serial number sequences: Table 1: Experimental Note Serial Numbers ?R? Note S 708 84001 C to S720 68000 C ?R? Star * 911 76001 A to *911 88000 A ?S? Note S 738 84001 C to S750 68000 C ?S? Star * 911 88001 A to * 912 00000 A Source: www.uspapermoney.info By 1945 the European conflict was over and Morgenthau was concentrating on post-war recovery. Instrumental in the Bretton Woods Agreement that for decades gave the dollar world dominance, he also developed an unworkable plan to permanently divide Germany into agrarian states. In July, with Roosevelt dead and his influence waning, he resigned from the Treasury. He lived on till 1967, working with charities and serving as a financial advisor to Israel. But the succession of Fred Vinson marked the end of the 1935A dollar. Julian stayed in office. When in June, 1946, Vinson went on to become Chief Justice and was replaced by John Snyder, the new 1935B dollar bill was discontinued. Julian?s signature appeared once again, this time on the 1935C. It was his seventh dollar, an unmatched record. He died in 1949, killed making a left turn into oncoming traffic. His succession by Georgia Nesse Clark began the tradition of women holding the position of Treasurer. The 1935A spanned the last years of the Depression, a world war, and the start of the Truman Administration. Like those citizens pressed into war service, throughout the great conflict the lowly dollar bill did its part. Not only did it help fuel the economy, but it was altered for the troops on both fronts, and tested to meet the shortages of the day. Changes in printing led to the 1957 series, the last for Silver Certificate dollars. But until then 1935 dollars continued to be printed and a succession of Treasurers and Secretaries of the Treasury meant new letters below that date. The last was ?H?, the Granahan-Dillon combination. Over the years these latter 1935 notes saw small alterations in their designs. The reverse margins were narrowed and the motto ?In God We Trust? was added. But these were minor changes compared to the distinctive versions of the 1935A. Printed from 1938-45, no other series was produced for nearly as long, or went through so many varieties to reflect the times. It was the bill that carried America through some of its darkest years. --The author would like to thank Peter Huntoon and Jeremy Uota for their valuable contributions to this work. Henry J. Morgenthau, Jr. was Secretary of the Treasury from 1934-45. His signature appears on most of the currency issued when Franklin Roosevelt was President. ? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 15 Central States Numismatic Society 78th Anniversary Convention April 24-27, 2018 (Bourse Hours ? April 24 ? 12 noon-6pm Early Birds: $125 Registration Fee) Schaumburg, IL Schaumburg Renaissance Hotel & Convention Center Visit our website: www.centralstates.info Bourse Information: Patricia Foley (414) 698-6498 ? foleylawoffice@gmail.com Hotel Reservations: Schaumburg Renaissance Hotel - 1551 North Thoreau Drive ? Call (847) 303-4100 Ask for the ?Central States Numismatic Society? Convention Rate. Problems booking? - Call Convention Chairman Kevin Foley at (414) 807-0116 Free Hotel Guest and Visitor Parking. ? Numismatic Educational Forum ? Educational Exhibits ? 300 Booth Bourse Area ? Heritage Coin Signature Sale ? Heritage Currency Signature Sale ? Educational Programs ? Club and Society Meetings ? Free Hotel Guest and Visitor Parking ? Complimentary Public Admission: Thursday-Friday-Saturday No Pesky Sales Tax in Illinois The?Henderson?National?Bank?of?Huntsville,?Alabama,?1907?1935? By?David?Hollander? HUNTSVILLE?S?NATIONAL?BANKS1? Like?the?great?majority?of?national?banks?throughout?the?country,?the?story?of?those?in?Huntsville?(Table?1)? is?one?of?extended?families?or?long?term?business?relationships2.?In?the?case?of?The?Henderson?National?Bank?of? Huntsville,?the?executives,?the?Hendersons?and?the?Murphrees,?were?first?cousins.3? Table?1:?Huntsville?Was?the?Home?of?Four?National?Banks?During?the?Note?Issuing?Period? Charter? No.? Title? Chartered? Fate? 1560? The?National?Bank?of? Huntsville? September?15,?1865? Liquidated,?July?3,?1889? 4067? The?First?National?Bank? of?Huntsville? June?22,?18894? March?23,?1985,?Changed?to?a? Domestic?Branch?of?a?Domestic? Bank5? 4689? The?Farmers?&? Merchants?National?Bank? of?Huntsville? January?25,?1892? Liquidated,?March?16,?1905? 8765? The?Henderson?National? Bank?of?Huntsville? June?1,?1907? August?31,?1985,?Changed?to?a? Domestic?Branch?of?a?Domestic? Bank6? CHARTER?8765:?THE?HENDERSON?NATIONAL?BANK?WAS?HUNTSVILLE?S?INTERLOPER?BANK.? Mr.?Fox?Henderson?(Figure?17),?a?very?prosperous?businessman8?from?the?southern?Alabama?city?of?Troy? went?to?the?northern?Alabama?city?of?Huntsville?(Figure?2)?to?start?new?business?ventures.?Urban?legion?relates? that,?apparently,?the?cliquish?Huntsville?bankers?refused?to?assist?him,?some?saying?that?The?First?National?Bank? refused?to?cash?his?check.?So,?probably?out?of?spite,?he?founded?his?own?bank:?The?Henderson?National?Bank?of? Huntsville,?Alabama.9? The?Henderson?National?Bank?opened?for?business?July?1,?1907? in?the?Struve?Building10?(Figure?4)?on?the? northeast?corner?of?Washington?and?Randolph?Streets.11?Its?President?(Table?2)?was?Fox?Henderson.?COL?12James? Murphree?was?Cashier?(Table?3),?and?James?Richardson?Stevens,?Jr.,?was?Assistant?Cashier.?The?Board?of?Directors? consisted? of? Luke? S.? Matthews? (December? 26,? 1856?December? 13,? 1922),? Leopold? ?Leo?? Max? Bashinsky? (February?22,?1851?July?22,?1941),?Winston?Fearn?Garth?(September?26,?1856?December?31,?1932),?Thomas?Tyler? Terry?(December?30,?1865?January?31,?1941),?James?Hamilton?Ballentine13?(March?5,?1869?November?24,?1929),? Edwin? T.? Terry? (November? 1871?1935),? Malcolm? Reed? Murray? (August? 10,? 1865?July? 26,? 1926),? Malcolm? Matthew? Cantrell,? Sr.? (January? 1857?October? 25,? 1919),? and? John?N.?Mazza? (October? 13,? 1856?January? 29,? 1930).14? Mr.?Henderson?owned?521?of?the?1000?shares?of?the?bank.15? FOX?HENDERSON,?SR.?was?born?on?December?17,?1852,? in?Henderson,?Pike?County,?Alabama,?12?miles? south?southeast?of?Troy.16?He?was?the?oldest?son?of?Jeremiah?Augustus?"Gus"?Henderson?and?Mildred?Elizabeth? Henderson?(n?e?Hill).? In?1869?the?family?moved?to?Troy,?Alabama,?where?his?father?started?a?successful?farm? mercantile?business,? joined?by?his? sons,?Fox?and? Jere?Clemens? (?Clem?).?They?were? joined?by? their?brother,? Charles17,?in?1877.? Mr.? Henderson? married? Sarah? Elizabeth? ?Sallie?? Wilkerson? (December? 7,? 1860?January? 21,? 1927)? on? December?11,?1879.?They?had?three?sons?Fox?Jr.,?Fred,?and?Jake?and?one?daughter,?Gussie?Henderson?Jones.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 18 In?1881?he?and?Jere?left?the?mercantile?business,?bought?the?Pike?County?Bank,?and?changed?its?name?to?the? Farmers?and?Merchants?Bank?of?Troy.?In?1903,?the?bank?received?a?national?charter?and?the?name?was?changed? again? to?Farmers?and?Merchants?National?Bank?of?Troy.?Mr.?Henderson?was?President?of? the?bank? from? its? inception?until?his?death.? In?1890?he?and?Charles?founded?Henderson?Knitting?Mills.?By?1900,?he?was?one?of?the?largest?land?owners? in?and?around?Troy.?Mr.?Henderson?established?the?Arcadia?Dairy?on?his?6,000?acres?of?land?and?imported?Jersey? cows?to?supply?the?city?of?Troy?with?fresh?milk.? From? the?onset? he?was? the? ?absentee??president? of? The?Henderson?National?Bank? and? delegated? the? responsibility?for?daily?operations?to?the?Cashier,?COL?James?Murphree.18?and?19? Mr.?Henderson?headed?the?Henderson?Wates?Lumber?Company,?Caryville,?Florida?and?was?known?to?many? as?a??lumberman.?20?The?Henderson?empire?got?so?large?and?complex?that?in?1911?Mr.?Henderson,?with?his?sons? as?partners,?formed?a?holding?company?(Fox?Henderson?&?Sons)?for?all?his?firms.? Mr.?Henderson?died?June?13,?1918.?He?had?been?ill?for?a?year?with?chronic?Bright?s?Disease?and?was?found? by?his?wife?dead?in?bed.?He?is?buried?in?Troy,?Alabama?s?Oakwood?Cemetery.21? He?was?posthumously?inducted?into?the?Alabama?Business?Hall?of?Fame.? Table?2:?The?Henderson?National?Bank?had?Two?Presidents?during?the?Note?Issuing?Period.? Year? President? Born? Died? Spouse? 1907? 1918? Fox?Henderson,? Sr.? 12/17/18 52? 6/13/191 8? Sarah?Elizabeth? ?Sallie??Wilkerson? 1918? 1951? Robert??Bob?? Murphree? 7/31/187 2? 10/25/19 51? Mabel?Nall? ? ROBERT??BOB??MURPHREE? (Figure?322)?was?born? July?31,?1872,? in?Troy,?Alabama.?At? the?University?of? Virginia?he?majored?in?the?sciences.23?After?graduation?he?matriculated?into?the?University?of?Alabama?and?was? in?the?Graduate?Class?of?1892?as?a?science?student.24?? Figure?2:?From?Troy?to?Huntsville,? Alabama,?Is?About?250?Miles.? Figure?1:?Fox?Henderson,?Sr.? President,?1907?1918? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 19 He?married?his? cousin,?Mabel?Nall? (July?26,?1879?October?18,? 1948),?January?22,?1903.?They?had?no?children.? Mr.?Murphree?operated?a?dry?goods?store? in?Troy,?but?he?was? also?a?director?of?the?Troy?Bank?and?Trust?Company.25?On?October?9,? 1909,? he? and? his? wife? temporarily 26 ?moved? to? Huntsville? at? the? request?of?COL? James?Murphree,?who?was? then? terminally? ill.?On? November?7,?1910,?after?James?died,?Mr.?Murphree?was?elected?by? the? Board? of? Directors? to? be? Cashier? (Table? 3)? of? the?Henderson? National?Bank?and?was?reelected?on?January?10,?1911.27?? Mr.?Murphree,??Mr.?Bob,?28?was?prominent?on?the?social?scene.? For? example,? in? 1911? it? was? reported? in? the? Huntsville? Weekly? Democrat?that?he?and?his?wife?went?to?Troy?to?visit?relatives29?and,? when?he?returned?to?Huntsville?without?his?wife,?it?was?mentioned?in? a?later?issue30.?Two?weeks?later,?when?his?wife?returned,?it?was?again? mentioned?in?the?newspaper?s?social?column.31?Mabel?s?Bridge?Club? activities?also?made?the?social?news.32?His?prominence?continued?for? many?years?in?the?civic,?business,?and?social?communities.?In?1912?he? joined?the?Huntsville?Business?Men?s?Club33,?and?later?in?the?same?year? joined? the? Executive? Committee? of? the? newly? founded? Huntsville? Chamber? of? Commerce34.? He?was? also? one? of? the? founders? of? the? Huntsville?Rotary?Club.35? In?1915?he?became?the?Madison?County?Treasurer?of?School?Funds.36?He?and?Edwin?Grantland??EG??Crick? (July?13,?1876?March?31,?1931)?owned? the?Murphree? Insurance?Agency.?He?was?promoted?by? the?Board?of? Directors?to?Acting?Vice?President?on?January?9,?1917.?Following?Fox?Henderson?s?death,?on?July?9,?1918,?he?was? elected?to?be?President?of?the?Bank.? In?1919?the?bank?s?balance?sheet?reported?$1,291,096.21.37?The?bank?grew?rapidly?under?Mr.?Murphree?s? leadership.? For? instance,?on? February? 25,?1930,? it?purchased? the?Huntsville?Bank?&?Trust?Company,? adding? another?$750,000?of?assets?to?its?balance?sheet.38?By?1934?the?total?bank?assets?were?$2,073,383.90.39?In?January? 1943?Mr.?Murphree?was?elected?to?be?the?first?Chairman?of?the?Board,?a?position?he?held?for?the?rest?of?his?life.40? Mr.?Murphree? loved?playing?poker.?From?1932? to?1949? regular?games?were?held?at?a? friend?s? cabin? in? Hollytree41?and?at?his?own?cabin?in?Madison?County?with?some?of?the?city?s?most?prominent?citizens.42? Mr.?Murphree?was?in?ill?health?for?some?time43,?and?died?October?25,?1951.?On?October?27,?1951,?he?was? buried?in?the?Troy,?Alabama?s?Oakwood?Cemetery.?? The?tribute?to?Mr.?Murphree?in?the?Huntsville?Times?included?the?statement:??Despite?the?fact?that?he?had? become?an?old?man,?and?that?violent?changes?had?come?in?the?latter?part?of?his?life,?he?never?became?ossified.?? ? ? ? Figure?4:?This?Is?the?original?location?of?The? Henderson? National? Bank,? on? the? first? floor?of?the?Struve?building.?Because?of?Its? growth,?in?1948?the?bank?moved?to?a?new? facility.? ? ? Figure?3:?Robert?Murphree,? President,?1918?1943;?? Chairman?of?the?Board,?1943?1951? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 20 Table?3:?There?Were?Five?Cashiers?During?the?Banknote?Issuing?Period.? Year? Cashier? Born? Died? Spouse? 1907?1908? COL?James?Murphree? 4/5/1858? 11/4/1910? Lela?Wilkerson? 1908?1909? James?Richardson?Stevens,?Jr.? 5/31/1870? 12/3/1936? Elise?Fearn?Donegan? 1909?1911? COL?James?Murphree44? 4/5/1858? 11/4/1910? Lela?Wilkerson? 1911?1918? Robert?Murphree? 7/31/1872? 10/25/1951? Mabel?Nall? 1917?1918? Paul?Thomas?McAllister? 11/11/1879? 10/16/1918? Gertrude?E.?Wichl? Frawley? 1918?1951? William?Raymond?Stobaugh? 2/6/1882? 9/9/1951? (Never?Married)? ? COL?JAMES?MURPHREE?,??Big?Jim,?45?was?born?April?5,?1858,?in?Alabama.?On?February?20,?1879,?he?married? Lela?Wilkerson?(November?1,?1861?September?27,?1939).?In?1907,?at?the?request?of?Mr.?Henderson,?he?arrived? in?Huntsville?from?Troy,?where?he?had?been?the?Vice?President?of?the?Troy?Bank?and?Trust?Company.46?He?bought? the?house?at?204?Franklin?Street?in?his?wife?s?name.47? He?had?the?responsibility?for?the?day?to?day?management?of?the?Henderson?National?Bank.48?In?that?role? COL?Murphree?maintained?a?high?profile?image?in?the?Huntsville?community.?For?instance,?in?March?1909?it?was? reported?that?construction?started?on?his?new?house,?a??bungalow,??on?Franklin?Street.49?Later?the?same?month? it?was?reported?that?he?had?returned?from?a?New?York?business?trip.50?He?was?involved?in?other?Fox?Henderson? &?Sons?business?ventures,?such?as?Donaldson?&?Co.51? Mr.?Murphree? knew? he?was? terminally? ill? and? died? November? 4,? 1910,? at? Johns? Hopkins? Hospital? in? Baltimore,?Maryland.?He?is?buried?in?the?Oakwood?Cemetery,?Troy,?Alabama.? JAMES?RICHARDSON?STEVENS,?JR.?was?born?May?31,?1870,? in?Huntsville,?Alabama.?At? the?University?of? Virginia?he?was?a?Class?of?1892?member?of?the?Phi?Kappa?Psi?Fraternity.52?He?married?Elise?Fearn?Donegan?(August? 4,?1875?1940)?on?May?24,?1899.?? When?Henderson?National?Bank?formed?in?1907,?Mr.?Stevens?was?elected?to?be?its?Assistant?Cashier.53?The? fact?that?his? father,?MAJ? James?Richardson?Stevens,?Sr.,?had?been?the? last?President?of?the?National?Bank?of? Huntsville?and?the?first?President?of?the?First?National?Bank?of?Huntsville?clearly?had?opened?career?doors.54? In?1908?Mr.?Stevens?was?promoted?to?Cashier?of?the?bank.?He?was?publicly?active?and?very?well?liked.?In? fact,?it?was?reported?that?he?was?one?of??Huntsville?s?most?popular?citizens.?55? In?1909?he?was?appointed?by?the?Controller?of?the?Currency,?Mr.?Murray,?to?be?a?National?Bank?Examiner.? In?1912?he?was?transferred?to?Louisiana?to?be?the?Clearing?House?Bank?Examiner?of?New?Orleans.?In?1919?Mr? Stevens?was?elected?to?be?Vice?President?of?the?Canal?Commercial?Bank?and?Trust?Company?of?New?Orleans.56? Mr.?Stevens?died?December?3,?1936.?He?is?buried?in?Huntsville?s?Maple?Hill?Cemetery.? PAUL?THOMAS?MCALLISTER?was?born?November?11,?1879.?He?married?Gertrude?E.?Wichl?(November?19,? 1883?July? 15,? 1966).? In? 1899?Mr.?McAllister?was? the? Assistant? Ticket? Agent? in?Huntsville? for? the? Southern? Railroad57?and?in?1900?was?promoted?to?Ticket?Agent.58?In?May?1900?he?was?again?promoted?to?City?Ticket?Agent? for?the?Cotton?Belt?Railroad,?the??Iron?Mountain,?59?in?Memphis,?Tennessee.60? By?1910?Mr.?McAllister?had?become?a?bookkeeper?at?Huntsville?s?W.?R.?Rison?Banking?Company61?and?and? by?1916?had?been?promoted?to?Assistant?Cashier?and?Notary62.?He?joined?the?Henderson?National?Bank?upon?the? promotion?of?Mr.?Robert?Murphree?to?Vice?President?and?in?1917?became?its?Cashier.? Mr.?McAllister?died?October?16,?1918,?in?Huntsville,?a?week?after?contracting?influenza.63?He?was?only?38.? He?is?buried?in?Huntsville?s?Maple?Hill?Cemetery.? WILLIAM?RAYMOND?STOBAUGH?was?born?February?6,?1882,?in?Humboldt,?Gibson?County,?Tennessee.64?? He?moved? into?the?Huntsville?Central?YMCA?Building? in?1910,?soon?after? it?was?constructed,?walked?the? short?distance?to?work?every?day,?and?lived?there?until?1951,?not?long?before?his?death.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 21 In?1914?he?was?employed?as?a?Teller?at?the?Henderson?National?Bank.?In?1920?he?was?promoted?to?be?the? Cashier?of?the?bank.65?He?never?married.? Mr.?Stobaugh?was?in?poor?health?for?several?years?and?suffered?a?series?of?strokes.?He?died?September?9,? 1951,? four?months?after?moving? to?Tennessee? to?stay?with?his?brother.66?He? is?buried? in?Rose?Hill?Cemetery,? Humboldt,?Tennessee.? TODAY?THE?SURVIVING?HENDERSON?NATIONAL?BANK?LARGE?SIZE?NOTES?ARE?SCARCE;?THE?SURVIVING? SMALL?SIZE?NOTES?ARE?COMMON.? Tables?4?and?5?contain?specific?information?about?the?Henderson?National?Bank?of?Huntsville,?Alabama?s?bank? note?emission.? Table?467:?In?Terms?of?Total?Bank?Note?Emission?The?Henderson?National?Bank?of?Huntsville,?Alabama,?Was?a? Medium?Sized?Bank.? Series? Denomination? Serial?Numbers? Notes? Printed? Total?Value? Known? 1902?Red?Seal? $5,?printed?in?sheets?of?four 1?1750 7000 $35,000.00 0 1902?Red?Seal? $10?and?$20,?printed?in?sheets? of?three?$10?s?and?one?$20? 1?1400 $10=4200 $20=1400? $10=$42,000.00 $20=$28,000.00? $10=1 $20=1? 1902?Date?Back? $5,?printed?in?sheets?of?four 1?8500 34,000 $170,000.00 1 1902?Date?Back? $10?and?$20,?printed?in?sheets? of?three?$10?s?and?one?$20? 1?6600 $10=19,800 $20=6,600? $10=$198,000.00 $20=$132,000.00? $10=0 $20=1? 1902?Plain?Back? $5,?printed?in?sheets?of?four 8501?28325 79,300 $396,500.00 7 1902?Plain?Back? $10?and?$20,?printed?in?sheets? of?three?$10?s?and?one?$20? 6601?19854 $10=39,762 $20=13,254? $10=397,620.00 $20=265,080.00? $10=8 $20=3? Large?Size?Totals:? 205,316? $1,664,200.00? 22? Total?Large?Size?Notes?Unredeemed?in?1935:? $4,320.00? Large?Size?Survival?Rate:?1?Note?for?every?9,332.5?Printed? 1929?Type?1? $5,?printed?in?sheets?of?six? 1?4506? 27,036? $135,180.00? 43? 1929?Type?1? $10,?printed?in?sheets?of?six? 1?2470? 14,820? $148,200.00? 19? 1929?Type?1? $20,?printed?in?sheets?of?six? 1?716? 4,296? $85,920.00? 39? 1929?Type?2? $5,?printed?in?sheets?of?six? 1?5834? 5,834? $29,170.00? 3? 1929?Type?2? $10,?printed?in?sheets?of?six? 1?3713? 3,713? $37,130.00? 6? 1929?Type?2? $20,?printed?in?sheets?of?six? 1?1155? 1,155? $23,100.00? 144? Small?Size?Totals:? 56,854? $458,700.00? 255? Small?Size?Survival?Rate:?1?Note?for?every?223.0?Printed? ? ? ? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 22 Table?568:?There?Are?22?Surviving?Large?Size?Banks?Notes?from?the?Henderson?National?Bank.?? Most?Have?Seen?Extensive?Circulation.? No.? Denom.? Type? Serial?No.? Plate?Pos.? Treasury?No.? Condition? 1? $10? 1902?Red?Seal? 553? A? U352972? F?VF? 2? $20? 1902?Red?Seal? 1136? A? V102550? G? 3? $5? 1902?Date?Back? 4328? E? B198344A? VF? 4? $20? 1902?Date?Back? 3206? B? B783911A? F? 5? $5? 1902?Plain?Back? 23310? G? G? 6? $5? 1902?Plain?Back? 23386? F? F? 7? $5? 1902?Plain?Back? 24093? H? VF? 8? $5? 1902?Plain?Back? 24100? H? F? 9? $5? 1902?Plain?Back? 24113? H? VG? 10? $5? 1902?Plain?Back? 24119? F? VF? 11? $5? 1902?Plain?Back? 24155? G? F? 12? $5? 1902?Plain?Back? 25757? F? F?VF? 13? $10? 1902?Plain?Back? 13133? E? K103545H? F? 14? $10? 1902?Plain?Back? 13134? E? K103546H? AU? 15? $10? 1902?Plain?Back? 13948? D? U557740H? G?VG? 16? $10? 1902?Plain?Back? 14803? E? A27155K? VG? 17? $10? 1902?Plain?Back? 15487? F? VG? 18? $10? 1902?Plain?Back? 15909? E? G?VG? 19? $10? 1902?Plain?Back? 16164? E? G?VG? 20? $20? 1902?Plain?Back? 15639? B? G?VG? 21? $20? 1902?Plain?Back? 17872? B? VG? 22? $20? 1902?Plain?Back? 17973? B? VG? ? Figures?5?through?10?are?examples?of?surviving?notes?from?The?Henderson?National?Bank?of?Huntsville,?Alabama.? ? Figure?5:?This?Is?the?Nicer?of?the?Two?Known?Henderson?National?Bank?of?Huntsville?1902?Red?Seals.?? It?Was?Printed?in?190769?and?Sold?for?$3,525.00?at?the?January?7,?2016,?Heritage?Auction.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 23 ? Figure?6:?This?Is?the?Only?Known?$5?1902?Date?Back?from?The?Henderson?National?Bank?of?Huntsville.? It?Sold?for?$3,910.00?in?2004?and?$998.75?in?2016?at?Heritage?Auctions? ? Figure?7:?1902?$10?Plain?Backs?from?the?Henderson?National?Bank?Are?Not?Scarce.? ? Figure?8:?There?Are?Only?Three?1902?$20's?Plain?Backs?in?the?Census.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 24 ? Figure?9:?The?First?$5.00?1929?Type?1?Note?Is?Known.?? (All?Small?Size?Notes?Have?the?Engraved?Signatures?of?Mr.?Stobaugh?and?Mr.?Murphree.)? ? Figure?10:?The?Henderson?National?Bank?$20?1929?Type?2?Is?the?Most?Common?Huntsville?Note.70? 1?Hollander,?David,??The?National?and?First?National?Banks?of?Huntsville,?Alabama,?1865?1935,??Paper?Money,?2017,? Volume?56,?Number?312,?Page?426.?This?was?the?first?article?in?the?series??Huntsville?s?National?Banks.???The?Farmers?and? Merchants?National?Bank?of?Huntsville,?Alabama,??not?yet?published?as?of?this?manuscript,?is?the?second?article?of?the? series.?This?is?the?third?and?final?article?about?the?national?banks?of?Huntsville,?Alabama.? 2?The?Farmers?and?Merchants?National?Bank?of?Huntsville,?Alabama,?was?started?by?business?associates,?who?came?to? Huntsville?from?Pierre,?South?Dakota.? 3?The?Hendersons?and?the?Murphrees?were?closely?related?through?James?Eli?Henderson?(February?26,?1803?January?9,? 1858),?the?father?of?Jeremiah?Augustus?Henderson?(June?12,?1831?April?6,?1877),?Susan?Matilda?Henderson?(October?15,? 1834?September?1,?1874),?and?Elizabeth??Eliza??Adelaide?Henderson?(October?15,?1834?February?7,?1901).?Jeremiah? married?Mildred?Elizabeth?Hill?(May?24,?1836?June?13,?1911),?who?were?the?parents?of?Fox?Henderson,?Sr.?Susan?married? William?Mills?Murphree?(December?28,?1825?May?30,?1879),?who?were?the?parents?of?James?Murphree.?Eliza?married?CPT? James?Kemp?Murphree?(April?7,?1830?December?13,?1908),?who?were?the?parents?of?Robert?Murphree.? 4?Floyd,?W.?Warner,?Form?10?300,?Revision?6?72,?United?States?Department?of?the?Interior,?National?Park?Service,?National? Register?of?Historic?Places?Inventory?Nomination?Form,?signed?July?19,?1974,?Certified?October?25,?1974.? 5?Federal?Reserve?System,?National?Information?Center,? http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=72632&parDT_END=20100129? 6?Federal?Reserve?System,?National?Information?Center,? http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=140830&parDT_END=19851130? 7?Huntsville?Madison?County?Public?Library,?Photograph?Collection.? 8?In?1911,?Fox?Henderson,?Sr.?held?the?following?offices:?President?of?First?National?Bank?of?Dozier,?Bank?of?Luverne,? Farmers?and?Merchants?National?Bank?of?Troy,?Henderson?National?Bank?of?Huntsville,?First?National?Bank?of?Brantley,? and?Standard?Chemical?Company?of?Troy;?Vice?President?of?First?National?Bank?of?Andalusia,?First?National?Bank?of? ???????????????????????????????????????????????????????????? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 25 ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? Brundidge,?Henderson?Lumber?Company?of?Stanford,?and?Planters?Trading?Company?of?Elba;?Partner?of?Henderson?Hill?of? Brantley,?Cody?Henderson?of?Luverne,?and?Henderson?Black?Company?of?Troy.? 9?Dunar,?Andrew?J.,?THE?HENDERSON?NATIONAL?BANK?OF?HUNTSVILLE:?A?HISTORY?1907?1985.,?commissioned?by?the? Board?of?Directors?and?privately?published?around?1986,?Page?2.? 10?Record,?James,?A?DREAM?COME?TRUE,?THE?STORY?OF?MADISON?COUNTY?AND?INCIDENTALLY?OF?ALABAMA?AND?THE? UNITED?STATES,?VOLUME?II,?(Huntsville,?Alabama:?John?Hicklin?Printing?Company),?Copyright?1978,?Page?265.?A?fire? burned?the?upper?portion?of?the?Struve?Building?in?1946.?The?bank?had?already?outgrown?its?facilities?and?had?been? planning?a?new?bank?that?was?completed?in?1948.? 11?Op.?Cit.,?Dunar,?Page?5.? 12?The?Huntsville?Daily?Times,?November?5,?1910.? 13?Op.?Cit.,?Record,?Page?134.?In?1909?Mr.?Ballentine?had?a?duel?with?Judge?Tancred?Betts?over?a??hotly?contested? election.??Both?were?poor?shots?and?survived?the?skirmish.? 14?Ibid.,?Page?128.?The?name?list?has?several?spelling?errors?that?have?been?corrected.? 15?Op.?Cit.,?Dunar,?Page?3.? 16?De?Land,?T.?A.?and?A.?Davis?Smith,?NORTHERN?ALABAMA,?HISTORICAL?AND?BIOGRAPHICAL?ILLUSTRATED,?(Birmingham,? Alabama:?Smith?&?De?Land,?1888),?Page?728.? 17?Stewart,?John?Craig,?THE?GOVERNORS?OF?ALABAMA,?(Gretna,?Louisiana:?Pelican?Publishing?Company,?Inc.,?1975),?Pages? 164?169.?Charles?Henderson?(April?26,?1860?January?7,?1937)?was?the?Governor?of?Alabama?from?1915?1919.? 18?Op.?Cit.,?Dunar,?Page?5.? 19?The?Huntsville?Daily?Times,?February?26,?1930,?Page?1,?Column?8.? 20?Holmes?County?Advertiser,?Bonifay,?Florida,??Mill?Man?Dead,??June?21,?1918.? 21?CERTIFICATE?OF?DEATH,?Alabama?Center?for?Health?Statistics.?Bright?s?Disease?is?a?disease?involving?chronic? inflammation?of?the?kidneys.? 22?Huntsville?Madison?County?Public?Library,?Photograph?Collection.? 23?University?of?Virginia,?Catalogue?of?Session?1889?1890,?(Richmond,?Virginia:?Everett?Waddy),?Page?xiv.? 24?University?of?Alabama,?Seniors,?Class?of?1892,?1891,?Page?7.? 25?Op.?Cit.,?Dunar,?Page?7.? 26?The?Huntsville?Daily?Times,?October?26,?1951,?Page?1.? 27?Ibid.,?October?25,?1951.? 28?Op.?Cit.,?Dunar,?Page?8.? 29?Huntsville?Weekly?Democrat,?July?26,?1911,?Page?3.? 30?Ibid.,?August?2,?1911,?Page?3.? 31?Ibid.,?August?16,?1911,?Page?3.? 32?Ibid.,?October?11,?1911?and?November?29,?1933,?both?Page?3,? 33??The?Tradesman,??February?1,?1912,?Chattanooga,?Tennessee,?Volume?LXVII,?Number?5,?Page?45.? 34?Ibid,?August?29,?1912,?Volume?LXVIII,?Number?9,?Page?46.? 35?Conversation?with?James??Jimmy??Murphree,?Mr.?Bob?s?nephew,?August?20,?2018.? 36?State?of?Alabama?Department?of?Archives?and?History,?ALABAMA?OFFICIAL?AND?STATISTICAL?REGISTER,?Compiled?by? Thomas?M.?Owen,?LL.D.,?Director,?(Montgomery,?Alabama:?The?Brown?Printing?Company,?1915),?Page?193.? 37?The?Huntsville?Daily?Times,?July?7,?1919,?Page?4.? 38?Ibid,?February?26,?1930,?Page?1.? 39?The?Henderson?National?Bank,?Huntsville,?Alabama,?CONDENSED?STATEMENT?COMPTROLLER,?JUNE?30TH,?1934.? 40?The?Huntsville?Daily?Times,?October?25,?1951,?Page?1.? 41?Hollytree?is?an?unincorporated?community?in?Jackson?County,?Alabama,?on?State?Route?65,?30?miles?east?of?Huntsville,? 12?miles?north?of?US?Route?72,?as?the?road?goes?north?about?3?miles?east?of?Gurley?and?1.5?miles?west?of?Paint?Rock.? 42?Hays,?PAUL?A.,?LAWRENCE?B.?GOLDSMITH,?SR.,?(West?Conshohocken,?PA:?Infinity?Publishing),?Pages?335?341,?Copyright? 2015.? 43?The?Huntsville?Daily?Times,?October?26,?1951,?Page?1.? 44?Even?though?he?died?in?1910,?COL?Murphree?was?not?replaced?formally?until?Robert?Murphree?was?elected?to?be?the? Cashier?in?1911.? 45?Ibid.,?October?26,?1951,?Page?1.? 46?Op.?Cit.,?Dunar,?Page?4.?Fox?Henderson?s?brother,?Charles?(later?the?Governor?of?Alabama),?was?the?President?of?the? Troy?Bank?and?Trust?Company,?where?the?Hendersons?and?the?Murphrees?were?five?of?the?nine?directors.? 47?Madison?County?Tax?Assessor?s?Office.? 48?Op.?Cit.,?Dunar,?Page?5.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 26 ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? 49?Mercury?Banner,?March?5,?1909,?published?in?Huntsville,?Alabama,?Page?1,?Column?5.?The?address?for?the?new?house?is? assumed?to?be?512?Franklin?Street,?where?Robert?Murphree?eventually?lived.?However,?no?house?number?was?recorded?in? the?records?of?the?Madison?County?Tax?Assessor?when?James?Murphree?lived?there.? 50?Ibid.,?March?16,?1909,?Page?6,?Column?1.? 51?The?Huntsville?Daily?Times,?February?8,?1911,?Page?5,?Column?7,?that?reported?the?dissolution?of?Donaldson?&?Co.?and? mentioned?James?Murphree?s?participation?in?the?business.? 52?CATALOGUE?OF?THE?PHI?KAPPA?PSI?FRATERNITY,?(Columbus,?Ohio:?Journal?Gazette?Printing?House),?Copyright?1894,? Page?114.? 53?Daily?Bulletin?of?the?Manufacturers??Record,?Baltimore,?Maryland,?Vol.?XVII,?No.?149,?June?22,?1907,?Page?1.? 54?Op.?Cit.,?Hollander,?Pages?427?8?and?431.? 55?Op.?Cit.,?Mercury?Banner,?March?3,?1909,?Page?5,?Column?5.? 56?The?Commercial?and?Financial?Chronical,?(New?York:?William?B.?Dana?Company,?Publishers),?July?to?September?1919,? Inclusive,?Volume?109,?Part?1,?August?9,?1919,?Page?553.? 57?Wilkins??Huntsville?1899?and?1900?City?Directory,?Page?132.? 58?The?Daily?Mercury,?Huntsville,?Alabama,?May?20,?1900,?Page?5,?Column?4.? 59?Ibid,?May?27,?1900,?Page?3,?Column?6.? 60?Gurley?Herald,?May?22,?1902,?Gurley,?Alabama,?Page?5,?Column?4.? 61?Huntsville,?Alabama,?City?Directory,?1911?1912,?Page?193,?and?the?1910?United?States?Census?recorded?on?April?20,? 1910.? 62?Ibid,?1916?1917,?Page?184.? 63?The?Huntsville?Mercury,?October?16,?1918.? 64?Delayed?Certificate?of?Birth,?State?of?Tennessee,?Department?of?Public?Health,?Division?of?Vital?Statistics,?File?Number?D? 171138.? 65?The?Huntsville?Times,?September?10,?1951,?Page?1.? 66?Certificate?of?Death,?State?of?Tennessee,?Department?of?Public?Health,?Death?Number?51?20295.? 67?Kelly,?Don?C.,?NATIONAL?BANK?NOTES,?SIXTH?EDITION.,?(Oxford,?Ohio:?The?Paper?Money?Institute,?Inc.,?P.?O.?Box?85,? Copyright?2008),?Page?33.? 68?Hollander,?David,?Trial?Listing?of?Known?Alabama?National?Bank?Notes,?September?3,?2018,?unpublished.? 69?Huntoon,?Peter,?UNITED?STATES?LARGE?SIZE?NATIONAL?BANK?NOTES,?Laramie,?WY?82070,?Modern?Printing,?Page?259,? Table?4,?c.?1995.? 70?Charles?Cataldo?Collection.? ? Many?thanks?for?advice?and?assistance?from?the?Huntsville?Madison?County?Public?Library,?the?Madison?County? Records?Center,?the?Madison?County?Tax?Assessor?Archives,?William?David?Gunther,?and?Jimmy?Murphree?(Mr.? Bob?s?nephew).? ? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 27 For?the?First?Time?in?Forty?Years?.? catalog?covering?the?scrip?and? Written? by? Wendell? Wolka,? well? work? greatly? expands? the? There's a?new?comprehensive? obsolete? bank? notes? of? Indiana.? known? author? and? researcher,? this? new? information? presented? in? the? last? Indiana? state? catalog? published? in? 1978,? authored? by? Wendell?along?with?Jack?M.?Vorhies?and?Donald?Schramm.?A?History?of?Indiana?Obsolete?Bank?Notes?and?Scrip? is? available?as?an?Adobe?PDF?format?file?on?either?a?CD?or?flash?drive,?this?new?book?contains? ? 900?Pages ? 455?issuer?listings ? 2838?individual?note?listings ? 1359?full?color?images ? Full?Issuer?and?Place?of?Issue?Indices?plus?a?Catalog?Number?Cross?Reference Thanks? to? modern? technology? the? book? can?be?searched?by?any? page?number,?key?word? or? phrase? with? Adobe? Acrobat? Reader? which? is? available? as? a? free? download?for?most?operating?systems.?Photographs?can?be?enlarged?to?view?small?details?and?desired?pages?or?the? entire?book?can?be?printed?out.?Order?yours?today?and?see?what?s?changed?in?the?last?forty?years!? Please?send?____?copy?(ies)?of?A?History?of?Indiana?Obsolete?Bank?Notes?and?Scrip.?I?want?to?receive?the?book?on?a? ___?CD?or?___?flash?drive?(check?applicable?choice).?I?am?remitting?$34.95?for?each?postpaid?copy?[check,?money? order,?or?PayPal?(purduenut@aol.com)]?? ??? ______________________________________________Name? ______________________________________________Mailing?Address?? ______________________________________________City,?State,?Zip?Code? Send?Order?to:?? Wendell?Wolka?? PO?Box?5439?? Sun?City?Center,?FL33571? 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 PMGnotes.com | 877-PMG-5570 United States | Switzerland | Germany | Hong Kong | China | South Korea | Singapore | Taiwan | Japan THE CHOICE IS CLEAR Introducing the New PMG Holder PMG?s new holder provides museum-quality display, crystal-clear optics and long-term preservation. Enhance the eye appeal of your notes with the superior clarity of the PMG holder, and enjoy peace of mind knowing that your priceless rarities have the best protection. Learn more at PMGnotes.com 16-CCGPA-2889_PMG_Ad_NewHolder_PaperMoney_JulyAug2016.indd 1 5/27/16 8:12 AM The Treasury Clerk Goes to War by Nick Bruyer Felix Alexander Reeve aspired to be more than a clerk at his uncle?s store in the tiny village of Rheatown, Tennessee. He?d excelled in his school studies and had a good head for numbers. So when in the summer of 1860 an opportunity opened up to study law in Knoxville under the Honorable O. P. Temple, he seized it. Oliver Perry Temple was a prominent lawyer and politician. His politics were rooted in the Whig party, as were those of the Reeve family. He became a Republican after the Whig party fell apart over the slavery issue. A close friend of Temple?s had an extra bed available. Soon Reeve was living in the home of Methodist preacher and newspaper publisher whose reputation was well known throughout the South, Parson William G. Brownlow. Reeve shared a bedroom with the Parson?s son, John. John was 21, Felix 24 and soon they became friends. Felix Reeve soon was immersed not only in the reading of law but also in the politics roiling Tennessee. The air in the Brownlow household swirled with talk of abolition, secession and the coming Presidential election. Parson Brownlow, nicknamed ?The Fighting Parson?, was a man of strong opinions and fuming emotions. Subtlety was not in his vocabulary, but all manner of vitriol certainly was. Over the years Brownlow had been shot and beaten for his venomous comments, many of them published in his Knoxville Whig newspaper. He?d received more than a few death threats. Chief among Brownlow?s hatreds were the Democrat party and it?s leading member in East Tennessee, Andrew Johnson. In 1845 Johnson and Brownlow ran against each other, for a seat in Congress. Johnson won and Brownlow never forgot it. He called Johnson the "greatest curse that ever yet befell this nation," and accused him of being illegitimate, an atheist and branded his relatives murderers and chicken thieves. O. P. Temple also ran against Johnson as a Whig in the 1847 Congressional election, but he too lost. When it came to politics. Temple and Brownlow shared a mutual dislike of Democrats. Yet one thing Brownlow, Temple, Johnson and their friends did have in common was their fierce loyalty to the Union and the Constitution. For Brownlow in particular, anything that threatened the Union was his enemy. Prime among those were Abolitionists who, in his view, threatened God?s natural order and risked inciting the slave states to secede. Reeve became acquainted with these political leaders of East Tennessee, including U. S. Congressman Horace Maynard. Most supported the Constitutional Union Party candidates, John Bell and his running mate, Edward Everett, in the fall Presidential election. The party supported the Union and was neutral on the issue of slavery. On November 6 Abraham Lincoln was elected President. John Bell came in third, behind Lincoln and Democrat John C. Breckinridge. To the horror of loyal Tennesseans, states immediately began to peel away from the Union. In February 1861 the Confederate States of America was born. Brownlow launched a war of words against them. He declared that secession laws Knoxville attorney Oliver Temple Perry (Wikipedia) Felix A. Reeve (Public domain) Parson William G. Brownlow (Public domain) ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 31 were ?covenants with death and agreements with hell.? In reply a South Carolinian called him ?the greatest liar out of hell and one of the most infamous scoundrels living between heaven and earth.? A Mississippian wrote, ?You will certainly be hung, as all dogs should be, until you are ?dead, dead??. Brownlow erected a flagpole on the roof of his home and began flying the Stars and Stripes in defiance. After Fort Sumter was fired upon, Lincoln called for volunteer troops on April 15. Most Tennesseans reacted negatively. ?Tennessee will not furnish a man for purposes of coercion, but 50,000, if necessary, for defense of our rights, and those of our Southern brothers?, Governor Harris exclaimed. The Tennessee legislature ordered a vote of the people on June 8 to decide about leaving the Union. The Three Tennessee?s The results of the vote revealed a deep divide between East, Middle and West Tennessee. Nearly 70% of East Tennessee voted to stay in the Union, while 86% of Middle and West Tennessee voted to leave. Unfortunately the loyal Union men of East Tennessee were outnumbered. On June 17 East Tennesseans held a convention in Greenville, where they declared their desire to split from Tennessee and become a separate state. O. P. Temple was one of the convention leaders. Aware that East Tennessee was strategically important to the defense of the South, the state?s leadership quickly quashed the proposal. On June 24 Tennessee became the last state to secede. Felix Reeve could hardly believe what had happened. He and his fellow Union loyalists were living a nightmare and fretting over what would become of them. Tennessee pledged to raise 55,000 troops for the Confederacy; Felix and his friend John Brownlow were at risk of being drafted for a cause they hated. Parson Brownlow in his paper raged against the secessionists, calling them traitors, drunkards, scoundrels and more. Tennessee held elections on August 1 for officials to serve in the new Confederate Congress. But East Tennessee ignored the slate of Confederate candidates, instead defiantly electing Union men to the U.S. Congress. Horace Maynard ran on the Union ticket and was re-elected as a U. S. Congressman. When Rebel soldiers marched through Knoxville on their way to Virginia, Brownlow wrote that they ?swarmed around my printing office and dwelling-house, howl like wolves, swear oaths that would blister the lips of a sailor, blackguard my family, and threaten to demolish my house, and even to hang me.? At times guns were brandished and shots fired. Felix Reeve and everyone living in the Brownlow house reasonably feared for their lives. Reeve was at ground zero of the growing animosity between Union and Disunion. He decided to remain in Tennessee just long enough to pass the bar exam and cast his vote for Union officials. His politically connected friends suggested there would be a job for him in Washington. On Thursday, August 1, Felix Reeve and his friends cast their votes for the Union. Reeve packed his belongings, bid them farewell and departed Knoxville. He headed west to Nashville, then north to Louisville, and finally east to Washington, D. C. There he met with Lincoln?s Secretary of the Treasury, Salmon P. Chase. Chase, an attorney from Ohio and a founder of the Republican Party, likely knew fellow Republican attorney O. P. Temple. Chase needed loyal Union employees at the Treasury. Just as the department was experiencing unprecedented wartime demands, nearly 60 Southern sympathizers had resigned or were fired. Others had left their jobs to enlist in the Union Army. ?The work has been performed by devoting not only almost every hour of each day, (Sundays not excepted,) but many hours of night, to continuous labor beyond the endurance of most men,? Treasurer F. E. Spinner wrote of the Treasury staff. Millions of dollars? worth of a new kind of Treasury obligation called ?Demand notes? were about to arrive in 4-note sheets of $5, $10 and $20 denominations. Hundreds of thousands of notes urgently needed to be hand-signed, hand cut, counted and bundled. Then they had to be disbursed to thousands of individual accounts. Register of the Treasury Lucius Chittenden needed clerks to sign notes on his behalf. Reeve was put to work at a table hand signing Demand notes ?for the? Register. Meanwhile in Knoxville rumors circulated that Parson Brownlow would be arrested and his newspaper shut down. He continued publishing until the end of October and then went into hiding. Always The ?three Tennessee?s?: East, Middle and West ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 32 defiant and theatrical, in the final edition of his newspaper he pledged to ?submit to imprisonment for the rest of my life or die at the end of a rope before I will make any humiliating concessions to any power on earth.? Not wanting to make a martyr of him, Confederate Secretary of War Judah Benjamin offered Parson Brownlow a military escort if he would leave the Confederacy. Brownlow accepted and surrendered himself in Knoxville, only to be jailed on December 6 by the town?s civil authorities. Knoxville District Attorney J. C. Ramsey?s arrest warrant stated that Brownlow, ?being moved and seduced by the instigation of the devil, and not having the fear of God before his eyes, did wilfully, and knowingly, and with malice aforethought, and feloniously, commit the crime of TREASON against the Confederate States?? The Knoxville jail was jammed with 150 fellow Unionists, many of them represented by attorney O. P. Temple. Conditions were wretched and Brownlow became ill. Fearing that he might die in their hands, the authorities transferred him to a hospital, where for months he was nursed back to health. On March 15, 1862 a military escort deposited him outside of Nashville, which had been occupied by Union forces in February. To his surprise, Brownlow discovered he was a folk hero in the North. He joined up with a Union recruiting officer and toured Northern cities to stir up passions for the Union cause. Throngs of cheering people came to hear the Fighting Parson speak. His arrival often was greeted with military regiments and brass bands. As biographer E. Merton Coulter wrote, ?the Parson had no equal in beating the war tom-toms and firing the minds of the people? He shot venom and spleen and fire and brimstone at the Southerners, he told how they should be hanged, drawn and quartered.? Brownlow also made his case for the need to send ?an army of deliverance? to free loyal East Tennesseans. Reeve?s Eighth Regiment Felix Reeve realized that his heart was with his family and friends back home. He had to enter the fight to reclaim East Tennessee and taking up arms was the way to do it. To avoid being conscripted into the Confederate army, thousands of East Tennesseans escaped to Kentucky through the Cumberland Gap. Reeve?s friend and former roommate, John Brownlow, was one of them. Many stayed at Camp Dick Robinson, a farm the Union army turned into a recruiting center. In the fall of 1861 Reeve visited there to organize refugees into a militia and sought a commission from the U. S. Army. After Nashville was seized by the Union in February 1862 Lincoln appointed then Senator Andrew Johnson to be the military governor. Reeve wrote Gov. Johnson a letter asking if he could find a job for John Brownlow. The letter reveals how fully Reeve had embraced the fiery anti-Rebel rhetoric of the Fighting Parson: ?It is with no ordinary pleasure I learn that one so perfectly qualified and well-suited as yourself, has been commissioned to form a Military Protectorate over our insulted and outraged state. There is a long list of accounts to settle there, particularly in East Tenn., and I hope to hear of justice---full, complete, unrelenting justice, having been Meted out to the traitors who have oppressed the noble loyal men of that section. Let DEATH, and CONFISCATION OF PROPERTY, be the only compromise!? Obtaining a military commission and official authority to assemble a regiment was painfully difficult for Reeve. At that time East Tennessee was a low priority for the U.S. military. He attempted to press his case with Secretary of War Edwin Stanton, but failed to get an audience. Frustrated, in August 1862 he contacted Parson Brownlow to ask if he would write to the President on his behalf. Reeve got his reply on the 25th. ?Dear Reeve, I inclose (sic) you a letter to Lincoln, which, I think, meets the case. Better hurry up and see that he gets to read it at once. The difficulty will be to get his attention. I tried it four times before I succeeded.? That same day Reeve went to the White House and met Lincoln. He received a card bearing the message: ?Sec?y of War: Please see Mr. Reeve of Tenn.? It was signed by the President. By the President?s order, Secretary of War Stanton commissioned Reeve as a colonel on September 6 and authorized him to organize an infantry regiment of East Tennessee volunteers. At age 26 and with no military experience, Col. Reeve would command a force of 700 men. He spent the next nine months in Kentucky, first at Nicholasville, and then at Camps Nelson and Dick Robinson, recruiting and training his regiment. A likely reason Secretary Stanton had been reluctant to meet Reeve was because the War Department was having trouble with another volunteer regiment from East Tennessee, the Seventh Infantry. The word in Washington was that it was poorly organized and run. ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 33 Col. Thomas Bradley was sent to investigate. Afterwards he wrote, ?It was quite impossible to distinguish officers from enlisted men as all were dressed alike in Private apparel and each acted upon his own authority? Discipline and manners were entire strangers to the party... I took charge of all the books and papers belonging to the regiment and proceeded to examine them but could make very little sense out of them.? The army ordered the Seventh to be disbanded and some of its soldiers transferred to Col. Reeve?s new Eighth Infantry. Reeve strongly protested. ?At least one fourth of the (Seventh) regiment might be mildly denominated a drunken, refectory and lawless mob . . . Please relieve me of them! I am better off without them?? The Army of Deliverance On Feb. 22, 1863 Parson Brownlow returned to Nashville. He was astounded that the disloyal parts of Tennessee, centered in Nashville, were in Union hands, while loyal East Tennessee remained in Confederate control. The Parson exhorted his fellow refugees to join Reeve?s regiment to liberate East Tennessee. Brownlow?s son John helped recruit volunteers for Reeve. John subsequently became Lt. Colonel of the Ninth Tennessee Cavalry Volunteers. On June 15 1863 Treasury Secretary Chase appointed Parson Brownlow to be the Assistant Special Agent for the Treasury Department. It was a customs function to make sure the Confederates were not benefiting from goods moving through Nashville. The Union armies of Generals Grant and Buell were busy clearing the Mississippi river, the great ?River Road?, of the enemy. Yet Lincoln was so furious at Buell?s delay in liberating East Tennessee that he replaced him with Gen. William S. Rosecrans. But it was not until after Maj. Gen. Grant?s Army of the Tennessee took Vicksburg on July 4 1863 that East Tennessee became a military objective. General Ambrose Burnside was assigned to lead 12,000 troops, including Col. Reeve?s Eighth Infantry, on a march through the Cumberland Mountains, bypassing the Confederate-fortified Cumberland Gap. To cross this wilderness they relied upon maps described as ?perfectly worthless? to traverse primitive trails described as ?terrible?. On September 16 Gen. Burnside left Camp Nelson on the Kentucky River. After a forced march of over 200 miles across the Cumberland Mountains, on October 3 his army reached the outskirts of Knoxville. Miles of cheering people lined the road as the soldiers marched unopposed into the city. They found Knoxville draped in Union flags and were greeted with joyful crowds celebrating their liberation. Lacking sufficient resources to withstand an attack and constantly badgered by the locals, the dispirited Rebels had fled. After capturing Knoxville Gen. Burnside sent three brigades back to take the Cumberland Gap. He forced the surrender of Confederate General John W. Frazer and 2,300 enemy troops. By the fall of 1863 the Union controlled East Tennessee. Col. Reeve?s Eighth Tennessee engaged in several campaigns and battles during the rest of the Civil War. In May of 1864 they fought in Georgia under Gen. William T. Sherman in the battles of Resaca, Burnt Hickory and Kennesaw Mountain. In October 1864 the regiment fought valiantly under Gen. Thomas at the battle of Franklin and then at the battle of Nashville, on December 1. Next they were sent to North Carolina and fought in a number of actions there before finally returning to Nashville in the spring of 1865, where they were mustered out of service. Col. Reeve earned commendations from Generals Burnside, Schofield and Cox, citing him as "a brave and meritorious officer." He might have continued to serve in the military but for a serious illness he contracted during the Georgia campaign, which forced him to resign his command. After the war Felix Reeve returned to East Tennessee and practiced law in Greeneville. He witnessed dramatic changes to the state he had fled in 1861. Lincoln appointed Greeneville Democrat Andrew Johnson military governor of the Union-controlled part of Tennessee. Johnson then became Lincoln?s Vice President on a national unity ticket in the November 1864 elections. After Lincoln was assassinated he became President on April 15, 1865. Parson Brownlow returned to Knoxville and resumed publishing his newspaper under the title Knoxville Whig and Rebel Ventilator, and ventilate he did. He preached vengeance and violence against the Rebel traitors, exhorting loyal Union citizens and the military to subjugate and exterminate them. He endorsed confiscation of their assets to repay the North for the cost of the war. Reeve?s roommate and friend Lt. Col. John Brownlow (public domain) ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 34 In 1865 a state convention run by East Tennessee men revised Tennessee?s constitution in accordance with the Union, declared all acts of the secession government null and void and nominated Parson Brownlow for governor. On March 4, the same day Johnson became Vice President, Brownlow became Governor by a vote of 23,352 to 35. Tyranny of the Minority As biographer Coulter wrote, ?It was a strange and dangerous act to set a person of Brownlow?s record to rule over a million people.? Under Brownlow, Tennessee endured conditions worse than during the war, as a minority exacted retribution against the majority of its citizens. Brownlow ruled the state as a dictator bent on punishing everyone with whom he held a grudge. Although he was a racist, one of his first acts was to get the 13th Amendment ratified to solidify his position with the Radical Republicans. During the war, when the Confederates evacuated Nashville they carted off 41 boxes containing Tennessee?s government archives along with its treasury, consisting of 56 boxes and 2 casks filled mostly with Mexican gold. Both were returned to Brownlow by the Union army. Gov. Brownlow packed the state legislature with cronies who passed a law to disenfranchise everyone who had not been ?publicly known to have entertained unconditional Union sentiments?. Depending on how heinous their disloyalty was judged to be, they were deprived of voting for either 5 or 15 years. 70-80% of Tennessee?s citizens became ineligible to vote. Most were prohibited from holding public office for three years. Felix Reeve was appalled at Brownlow?s hateful and vindictive reign. He believed that this was the time to bind up the wounds of war and heal the nation. In the spring of 1865 Col. Reeve married Wilhelmina Maynard, daughter of Congressman Horace Maynard. Maynard was a towering intellectual and a compelling speaker with a biting wit. Abolitionist Frederick Douglas said that Maynard had ?a three story head?. Maynard supported abolition and the 14th Amendment providing protections to Black people. Maynard continued to serve in the U.S. Congress after the Civil War, running on the Republican ticket. Later he was chairman of the House Committee on Banking and Currency during Grant?s presidency, 1873-75. In September of 1866 Col. Reeve and two others published in the Nashville Union and American resolutions adopted by them as delegates to an upcoming Soldiers and Sailors Convention, at which Pres. Johnson would speak. It said in part: ??with hearts devoted and true to the whole country---East and West, North and South---and feeling in our pride of triumph that the ?crown-jewel of courage is magnanimity to a fallen foe?, we therefore divest ourselves of all sectional animosity and personal revenge toward a gallant people whom we have fairly subdued by force of arms, and who now sink unresisting at our feet? we regard rebelism and radicalism interchangeable terms, and both alike inimical to the peace and perpetuity of the Union of the States. Resolved, that we believe the Radical faction who now seek to establish disunion and disorder under the stolen livery of loyalty, as much the enemies of the country as were the rebels in 1861.? It was a strong rebuke to the harsh treatment of ex-Confederates by Brownlow. Reeve became a moderate Democrat and supporter of Pres. Andrew Johnson, rejecting Radical Republicanism. By 1875 Col. Reeve had converted from the Episcopalian faith to Catholicism. He donated land for a Catholic church in Greeneville. On the day the church was inaugurated he shared a pew with his friend, Andrew Johnson. Col. Reeve was alarmed at the behavior of Republicans toward Catholics. On May 26, 1875 he wrote in the Memphis Southern Catholic to urge his fellow Catholics to rally around the Democrat party because Republicans were ?at war with our holy religion.? Return to Treasury In 1879 he moved to Washington D. C. to pursue a government position. Perhaps through the political connections of his father in law, in 1880 Reeve became a law clerk in the office of Solicitor of the U.S. Treasury. Reeve?s Roman Catholic advocacy for Democrats paid off when Grover Cleveland won the Presidency in 1884. During Cleveland?s campaign the Republicans denounced the Democrats as the party of ?Rum, Romanism and Rebellion?. Anti-Pope hostility drove Catholic votes to Cleveland, especially New York?s crucial Irish Catholics. Cleveland won four key states by just 1,200 votes, becoming the first Democrat President since 1856. In 1886 Cleveland promoted Col. Reeve to Assistant Solicitor of the Treasury. Reeve served under Treasury Secretary Daniel Manning, a New ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 35 York Democratic Party chief. Cleveland, Manning and Reeve were ?Gold Democrats? (also called ?Bourbon Democrats?), a faction that supported conservative business principles and opposed ?Free Silver?. Manning proposed ending the coinage of silver dollars under the 1878 Bland- Allison Act. After the Cleveland administration Col. Reeve continued as Asst. Solicitor under President Benjamin Harrison. When Cleveland was elected President to a second term in 1892 he appointed Reeve Solicitor. Reeve was a personal friend of Cleveland and the two of them exchanged correspondence. He continued in the Solicitor?s office of the Treasury until November 1919, when at age 83 he fell while working in his office. He suffered with his injuries for a year until passing away on November 15, 1920. During 33 years with the Treasury Department Col. Reeve wrote legal opinions on many interesting topics, including the issuance of Columbian commemorative half dollars and the legality of using small denomination county bonds and clearing house certificates as money. Col. Felix Reeve was buried with full military honors at Arlington National Cemetery. During his life he was friends with some of the most famous and controversial people in the country, including Pres. Andrew Johnson, ?Fighting Parson? Brownlow and Pres. Grover Cleveland. The discovery of his signature on a rare U.S. $5 Demand of 1861 opens a window into his life and the plight of loyal Union people caught on the borders between North and South, and how they responded to the conflict. $5 Demand note issued late August, 1861 (author?s collection) Close-up of Felix A. Reeve?s signature ?for the? Register of the Treasury Reeve served as Solicitor of the Treasury under Pres. Grover Cleveland (Photo courtesy Stacks-Bowers Gallery) ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 36 Sources Carter, W. R., History of the First Regiment of Tennessee Volunteer Cavalry, 1896 Col. Felix Reeve, Civil War Veteran, Dies, Evening Star, Washington, D. C., 16 Nov 1920 p. 14 Col. Felix A. Reeve Dies Here, Aged 84, The Washington Times, Washington, D. C., 16 Nov 1920, p. 13 Coulter, Merton E., William G. Brownlow, Fighting Parson of the Southern Highlands, Univ. of North Carolina Press, Chapel Hill, NC 1937 Division of the State, Nashville Union and American, Nashville, TN, 27 June 1861, p. 2 The 8th Tenn, The National Tribune, Washington, D. C., 28 Dec 1905, p. 7 Gold Democrat Gets Office, The Roanoke Times, Roanoke, VA, 13 Aug 1897, p. 5 Johnson, Andrew, The Papers: 1822-1851, Volume 5; 1861-1862, The University of Tennessee Press, Knoxville, TN, 1989, pp. 180-81 Letters on Lincoln, Evening Star, Washington, D. C., 12 Feb 1909 p. 16 Mass Meeting at Sweetwater, The Athens Post, Athens, TN, 21 Sep 1860, p. 1 New Assistant Solicitor of the Treasury, Evening Star, Washington, D. C., 23 Aug 1886 p. 1 Officers of the Volunteer Army and Navy who served in the Civil War, L.R. Hamersly & Co., 1893 O?neal, Michael R., The Civil War. . . On The Cumberland Plateau In Tennessee, Winter and Spring 1986 Newsletters, Scott County Historical Society President Cleveland Continues to Wield his Little Axe, The Missoulian, Missoula, MT, 27 Mar 1893, p. 1 Reeve biographical sketch, Herald and Tribune, Jonesborough, TN, 30 Mar 1893 p. 2 Reeve on Catholicism and the Presidential Race, The Pittsburgh Daily Commercial, Pittsburgh, PA, 26 May 1875, p. 4 Reeve, Felix A., The South in the Union Army, The North American Review, Vol. 143, No. 360 (Nov., 1886), Published by: University of Northern Iowa, pp. 515-517 ResearchGate: Letter from F. A. Reeve to O. P. Temple: https://www.researchgate.net/publication/27462850_FA_Reeve_in_Washington_DC_to_OP_Temple_in_Knoxville_Te nnessee Shuckers, J. W., The Life and Public Services of Salmon Portland Chase: United States Senator and Governor of Ohio, Secretary of the Treasury and Chief-Justice of the United States, D. Appleton, NY, 1874, pp. 224-225 The South in the Union Army (quoting Felix Reeve in the North American Review), The Wichita Daily Eagle, Wichita, KS, 6 Nov 1886, p. 2 Stories of Camp and War, In East Tennessee, Willmar Tribune, Willmar, MN, 23 Nov 1904, p. 6 Temple, Oliver Perry, East Tennessee and the Civil War, The Robert Clarke Co., Publishers, Cincinnati, OH 1899, p. 389 Temple, O. P., Notable Men of Tennessee from 1833 to 1875, Cosmopolitan Press, NY, 1912 Thomas, Capt. H. H., Personal Reminiscences of the East Tennessee Campaign, August 1863 to December, 1864, pp. 284-285) The Union Army, Vol. 4, p. 381 Wikipedia: The Whig Party; John Bell; Horace Maynard Knoxville Residence and Library of Parson William G. Brownlow ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 37 Series of 1928 $100 FRN with inverted stars by Peter Huntoon One of the best-known occurrences of inverted stars in replacement serial numbers are those on the $100 Series of 1928 FRNs from Dallas and San Francisco. The spectacular foursome illustrated here from the San Francisco bank illustrates all four possible permutations of the stars in the serial numbers on those sheets. Bob Liddell patently assembled this set. The first runs of Series of 1928 Dallas and San Francisco $100 star notes were numbered on the same 12-subject overprinting and separating press on November 22, 1929. Both press runs were 1,000 sheets each bearing serials 1 through 12,000. The sequence of numbers on the left sides differed from those on the right by 6,000 for both press runs. Consequently, the first sheet contained numbers 1 through 6 and 6001 through 6006. The stars had to be inserted into the numbering wheels and locked in place; however, they could be inserted so that they either appeared right-side-up or upside-down on the printed notes. The operator did not notice the distinction so the orientation of the stars came out mixed on the notes. The positions of the stars were the same for both the Dallas and San Francisco runs. We have cataloged four notes from the Dallas run and 18 from San Francisco. To date we have been able to document the orientations of the stars in 10 of the 12 plate positions. Here is how they break out. Normal stars appear on positions J, K and L; inverted stars in the right position only on C and D, on the left only on G and H, and on both on A, E and F. Positions B and I remain to be determined. There were four plates on the press used to print the faces on these stars; specifically, plate serial numbers 1, 2, 3 and 4. As icing on the cake each is represented among Bob?s four notes. The following are the reported examples from the November 22, 1929 numbering run. K00001410* F2/2 both CAA 1/00 K00001829* E1/3 both Heritage 8/14 K00002208* F both CAA 1/97 K00002320* D1/8 right CAA 9/02 L00000073* A1/6 both CAA 11/90 L00000376* D1 right Liddell, Manifest Auctions 7/15 L00001881* C1/1 right Heritage 1/06 L00003478* D3/4 right Stacks-Bowers 3/17 L00003588* F both E-Bay 7/12 L00003593* E both Koble 6/82, Knight 3/11 L00005261* E3 both Liddell, Knight 3/10 L00005837* E both Knight 8/05, 9/12 L00005902* D right E-Bay 8/13 L00006112* J3/2 normal CAA 9/05 L00006642* L4/2 normal Whitelock 06 L00007440* L4/3 normal Jacob 07 L00007505* K2 normal Liddell L00007808* H1/2 left Heritage 1/12 L00008396* H2 left Lipka 06 L00008981* K4/6 normal Randy Vogal 4/12 L00010213* G4/7 left Liddell, Stacks-Bowers 11/11 L00010214* H4/7 left Baeder 07 L00011006* H1/7 left Horowitz 10/13 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 38 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 39 Book Review by?Loren?Gatch? New?Hampshire?Merchant?Scrip,?Along?with?a?Brief?History?of?Its?Use?and?Biographical?sketches? of?the?Merchants.?By?Kevin?G.?Lafond.?Foreword?by?Q.?David?Bowers.?(Portsmouth,?NH:?Peter?E.? Randall?Publisher,?2018.?Pp.?XVI,?471.?Illustrations.?Notes.?Bibliography.?Index)? ? New?England? is?an? intimidating?area?of? the? country? to? undertake? historical? investigations?beyond? the?most? local? scale,? given?the?overwhelming?amount?of?material? available? to? the? researcher.? Unlike? more? recently?settled?areas?of?the?country,?where? archival?materials?tend?to?be?concentrated?in? more? centralized? (and? conveniently? accessible)? repositories,? the? New? England? states?have?a?long?tradition?of?local?historical? societies?(the?Granite?State?alone?has?nearly? 150)? housing?materials? that? can? date? back? centuries.? It? is? against? the? background? of? those? challenges? that? we? should? welcome? Kevin?G.? Lafond?s?meticulously?written? and? sumptuously? illustrated? volume? on? New? Hampshire?merchant?scrip.? ? A? student? and? collector? of? this? medium? for?over? twenty?five? years,? Lafond? has? produced? a? fine?grained? study? of? New? Hampshire? issues? and? the? merchants? responsible?for?them.?Unlike?other?books?of? this? genre,? whose? titles? typically? take? the? form?of??The?Obsolete?Notes?and?Scrip?of?[fill? in? the? state? name]?,? this? volume? is? both? narrower? in? focus? yet? more? ambitious? in? terms?of?historical?depth.?After? giving?brief? accounts? of? the? major? economic? and? financial?crises?that?have?given?rise?to?the?use? of? scrip? (his? account? of? the? emergence? of? Civil? War? scrip? is? particularly? original? with? respect?to?New?Hampshire),?Lafond?follows? with? useful? biographical? information? about? the? printers? and? engravers? of? the? state?s? issues.?? ? The?meat? of? the? book? consists? of? a? compilation?of?scrip? issues?accompanied?by? brief,? yet? detailed? accounts? of? the? merchants?their?operations?and?lives?that? used? the? scrip.? To? call? this? book? a? mere? catalog?would?be?greatly?misleading,?though? it? does? provide? a? reference? scheme? and? attempts? to? give? rarity? ratings? and? note? counts?for?each?issue.?Even?for?the?smallest? town? and? issue,? Lafond?s? research? appears? exhaustive,? as? if? he? had? turned? all? those? historical?societies?upside?down?and?shaken? out?any?relevant?bit?of?information?pertinent? to? their? local? merchants.? Instead? of? relegating? this? historical? detail? to? introductions? or? appendices,? as? many? catalogs?do,?Lafond?instead?integrates?them? into? the? text? with? a? simple? and? intuitive? framework.?Sometimes,?the?footnotes?alone? contain?more?detail?than?the?corresponding? text,?and?represent?delightful?side?paths?for? the?careful?reader?to?follow.? ? ?Proceeding? alphabetically? by? town? name?(from?Acworth?to?Wolfeboro),?Lafond? lists? merchants? within? each? locale? alphabetically? in? turn.? Spread? across? 78? towns,? scrip? issuers? were? in? particular? concentrated? in? the? three? larger? cities:? Manchester? (16),? Concord? (23),? and? Portsmouth?(26).?The?result?is?a?classification? scheme? easily? adaptable? to? new? scrip? discoveries.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 41 ?George?L.?Folson,?Sutler?of?Fort?Constitution? (New?Castle).?630?00.03?2? ?Perkins?&?Roby,?Manchester.?1010?00.06?1? ?Putney?&?Fearing,?Manchester.? 1040?00.10?1? ? ?While? most? of? these? merchants?? histories?occupy?no?more?than?a?page?or?two? of?text?(excluding?images),?some?like?those? of?John?Davenport?(Portsmouth)?or?Jones?&? Mendum? (also? Portsmouth)?are? particularly?substantial?accounts.?In?most?all? cases,?though,?Lafond?has?managed?to?bring? together? period? portraits? and? other? photographs? to? serve? as? counterpoints? to? the? lavish? color? images? of? the? scrip? notes? themselves.? ? One? can? have? a? few? quibbles? even? with? a? fine? work? like? this.? Though? its? title? references? ?Merchant? Scrip?? as? a? general? topic,? the? actual? focus? of? this? book? is? overwhelmingly? the? Civil? War? era? ?shinplasters?? that? appeared? in? New? Hampshire,?and? indeed?across? the?country,? in?response?to?the?sudden?shortage?of?small? change.?Of? all? the?merchants?profiled,?only? the?scrip?issues?of?John?D.?Locke?(Seabrook)? and?Hunking,?Wentworth?et?al.?(Portsmouth)? predate?the?Civil?War?experience.?Likewise,? only? three? issues? occur? afterwards,? and? during? the? Great? Depression? of? the? 1930s:? those? of? the? Concord? Clearing? House,? the? Tilton? Merchants,? and? the? Wolfeboro? Chamber? of? Commerce.? For? the? sake?of? its? thematic? focus,? the? book? might? have? left? these? out,? and? focused? solely? on? the? Civil? War?era.?For?similar?reasons,?and?even?more? so,?the?account?of?Tiffany?Scrip?(pp.?18?20),? while? interesting,? seems? entirely? unrelated? to?the?mercantile?history?of?New?Hampshire,? at? least? as? the? history? is? reflected? in? this? particular?exchange?medium.? ? For?those?readers?unfamiliar?with?the? geography? of? New? Hampshire? and? the? location?of?its?towns?and?cities,?a?map?would? have?represented?a?small?convenience.? ? At? once? a? catalog? of? scrip? and? a? compendium? of? commercial? history? at? the? most?granular?level,?this?volume?hits?a?sweet? spot? between? the? schematic? list? making? typical?of?catalogs?and?the?rich?details?typical? of?local?histories.?As?such,?this?valuable?book? should? prove? a? resource? both? to? numismatists,? professional? historians,? and? general? readers? alike? for? a? long? time? to? come.? ? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 42 ? e authoritative reference on New Hampshire scrip notes from 1734 to 1933 ? Biographies of the scrip-issuing merchants, engravers and printers ? All available notes have been given reference numbers and illustrated in color ? Includes a list of notes commonly misattributed to New Hampshire ? Over 700 photographs, 488 pages, hard cover ? Limited edition of 500 copies ? And much more ? New Publication Available for immediate shipment. $89.50 + $10 shipping Orders can be mailed to Kevin Lafond, P.O. Box 4724, Portsmouth, NH 03802-4724 (Make checks payable to Kevin Lafond) ? Inquiries to: kglafond@comcast.net New Hampshire Merchant Scrip Along with a Brief History of Its Use and Biographical Sketches of the Merchants By Kevin G. Lafond With a foreWord By Q. david BoWers letter-size ad 2.indd 1 12/7/18 1:16 PM U n c o u p l e d : Paper Money?s Odd Couple World War 1 ? Part 2 Joseph E. Boling Fred Schwan Continuing from where we were last issue, the British emergency notes that were so quickly (and crudely) created during the first weeks of World War I were also used by troops deployed to the Middle East, in the Dardanelles campaign. Those of the second issue carried an overprint stating a value in local Ottoman piastres. The 10/ note was revalued at 60 piastres, and the ?1 note at 120. The surcharges were applied by letterpress, the same technology that had been used for the basic notes. These revalued notes are also called Gallipoli notes, taking the name of the principal battle fought by the British in that region. Figures 1 and 2 show the faces of the overprinted 10/ and ?1 notes. Recall that the backs are blank, and that the paper contains elaborate pictorial denominated watermarks. Most counterfeits encountered are on unwatermarked paper and were made to circulate. As usual, a few months ago when Joe and I were discussing the October issue, we were having trouble deciding on a topic. I suggested the overall topic of World War I. It was quite obvious, because we were about to celebrate the centennial of the end of the fighting. I knew that Joe had some material ready and I knew that I could put something together, and I wanted to write on the subject. Not only did Joe jump at the suggestion, he quickly opined that he had more than he could cover in one column. In the follow-up discussion about this issue, he confirmed the World War I theme and suggested that I should write about anything that I pleased. It was like a free pass, and it should have made topic selection easy. It did not. It seemed harder. Of course, I wanted to think of the perfect topic. It has been very common for us to find topic selection harder than writing the column. With about a combined century in paper money collecting, it is fairly easy once we decide on the subject. I dug through some piles on my desk, on the table behind my desk, in a filing cabinet, on the cabinet, and on the floor. Nothing seemed right. I put off the selection for a few more days and worked on other things. Only this afternoon, with the Paper Money deadline looming, I was looking at an item in a manuscript. I have been working on the second edition of World War II Savings Bonds and Stamps with Larry Smulczenski, Jim Downey, Sparky Watson, and of course Joe and some others. The first edition came out in 2011, although it seems like only a few years ago. I said to myself, ?boy, that is a cool item,? and it clicked, I would tell you about this great new listing in the second edition of the bond book. The specific item in question is an Excess Profits Tax Refund Bond. It certainly is not a graphic beauty, but it is really cool nonetheless. It also has a great pedigree. Figure 1 Figure 2 See Boling page ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 44 This remarkable item was in the Chet Krause collection that was sold by Stack?s-Bowers a few years ago at the World?s Fair of Money.? Chet had a great bond collection. Arguably he was the original war bond collector. His collection included bonds that Chet had purchased during World War II! In 1994 when Joe and I were working on World War II Remembered, Chet gave us the image shown below of a $10 soldier?s bond. At that time, just to have an image of a $10 bond was a rare treat, but one made out to Chet was really special. Chet also wrote a great foreword to that book for us. The collection included various Federal bonds, from World War I Liberty Loan bonds more or less to the present. It included rare series, high denominations, and rare varieties. Unfortunately, Chet did not include any of the bonds that were made out to him in the sale, but the collection was nevertheless a joy to behold. Its sale was a great opportunity for bond collectors. I was fortunate to be at the sale. I studied the collection carefully during lot viewing and picked out several items, but the real object of my desire was the Excess Profits Tax bond. The purchase was almost anticlimactic as it sold for a low price. I do not remember the price. I only remember sitting forward in my chair in anticipation. It came and went fast. Since that time, I have been looking forward to sharing the bond in the second edition of the bond book, but now I have this chance to share it in a preview. Under some conditions tax refunds were not made during the war. Instead the Excess Profits Tax Refund Bonds were issued. The text on the bonds describes their use. ?The United States of America for value received promises to pay to [name of corporation or individual] or, subject to the limitations hereinafter contained, its successors or registered assigns, the sum of [amount] dollars, without interest, on the last day of the second calendar Sergeant Krause ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 45 year beginning after the cessation of hostilities in the present war. This bond is one of a series of bonds of the United States, designated Excess Profits Tax Refund Bonds, authorized by and subject to the provisions of the second Liberty Bond Act, as amended, and sections 780 to 783, inclusive, of the Internal Revenue Code, as amended, and issued pursuant to Treasury Department Circular No. 728, to the terms and conditions of which it is subject as fully as if herein set forth. Bonds of said series shall be nonnegotiable, and shall not be transferable by sale, exchange, assignment, pledge, hypothecation, or otherwise, on or before the date of cessation of hostilities in the present war, but after said date, such bonds shall be negotiable, may be sold, exchanged, pledged, assigned, hypothecated, or otherwise transferred, without restriction and shall be redeemable at the option of the United States in whole or in part upon three months? notice.? This particular bond was issued on September 21, 1944 at the heart of the war. The bond is made out to the Wisconsin Cylinder Foundry Co. of Racine, Wisconsin. I think that this is very significant. Chet collected many things. Among them was Wisconsin paper money. I suspect that Chet originally purchased this item because of its Wisconsin connection. Without that, this piece may have been lost to collectors a second time. The bonds were printed by the Bureau of Engraving and Printing (imprint at the bottom). The bond has the ubiquitous signature of Henry Morgenthau Jr. Remarkably, this is a ?first series? bond. Its serial number (40430) is neither extremely low nor high. Data from the Bureau of Engraving and Printing establish that second series bonds were printed in 1946, although that is not conclusive proof that they were actually issued. It is rather amazing that an item that we barely know exists may have been used in multiple series! Boling continued; Figure 3 is the face of a counterfeit 10/ note, and Figure 3 figure 4 is the same note on a light box, showing no watermark. Figure 5 shows the watermark in a genuine note. I am told that counterfeit overprints (probably for collectors) also exist on genuine notes; I have not seen one. However, one additional point that can be used to possibly separate good from bad on watermarked paper is that only blocks Y1 to Y30 and Z1 to Z30 were used for the issued overprinted notes (parts of blocks W and X were also printed, but not released). Unfortunately, because not all of blocks Y and Z were overprinted, genuine notes exist that can be used for fake overprints. Beware of altered block numbers by well-read forgers. Go back and look at the overprints in figures 1 and 2?note how the tails of the Arabic letters at the left end of the bottom line are fat on the ?1 note and narrower on the 10/ note. The ?1 note comes with both narrow and fat tails on that line, so you cannot use that as a way to condemn spurious overprints. We do know that the narrow tails occur only in block F and the fat tails in blocks J, M, and P. Just like for the 10/ notes, whole blocks were not used for the overprints. The following block ranges for genuine ?1 overprints are reported in English Paper Money by Pam West: F61-70, J51-60, M31-40, and P51-60. Parts of blocks S and T were also overprinted, but again not issued. Figure 4 Figure 5 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 46 A quick and dirty distinction (after you have determined that the suspect ?1 note has a proper watermark) is to look at the length of the bottom line in the overprint. Figure 6 is a counterfeit with fat- tailed characters. The bottom line is exactly the same length as the black line it is printed over (if the red line is pushed a half millimeter left, both ends will lie precisely within the outer edges of the black line underneath). Now look back at figure 2. The genuine red overprint is longer than the black line. Push it the same distance to the left, and the right end will be outside the limit of the black line beneath it. Of course, the counterfeit shown here fails two other tests as well; figure 7 shows it on a light box, sans watermark, and the block (J44) is outside the reported range for an overprinted note. Figures 8 and 9 show a couple of examples of fun with counterfeits. Figure 8 shows a consecutive pair of fakes that came into my hands years apart. Recall that in our last column I showed a counterfeit of a first issue Bradbury note that had been removed from circulation in the army pay office, Cairo. Figure 9 shows a pair of the second issue, with the piastres overprint, that came into another army pay office in the Mediterranean theater?this time in Gibraltar. These fakes got around. Moving on?other Commonwealth countries (still part of the Empire at that time) had their notes counterfeited during the Great War. We will look at Canada this month. Figure 10 shows a counterfeit note of one of the Canadian chartered banks?the Imperial Bank of Canada. $100 Canadian in 1917 was a lot of money. Somebody (as yet unknown to me) made a very large number of these $100 notes and attempted to launder them through the Imperial Bank of Persia. All these Figure 6 Figure 7 Figure 8 (above) and Figure 9 (below) Figure 10 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 47 Figure 15 Figure 16 (left) and Figure 17 (right) fakes known to collectors are from this single hoard. They all show a rubber stamp at lower left face of the Persian bank?s office in Resht (figure 11), with initials and a control number of some sort (many numbers exist?they may have been serial numbers, counting the notes in the pile). All are stamped ?COUNTERFEIT? and perforated ?VOID.? I have seen a stack of several hundred, which happened to all be glued together (don?t ask me). They have been in collector hands since at least the mid-1990s. The counterfeits are intaglio face and back, but not very elegant intaglio. The plates were probably made using a photoengraving process, which killed a lot of fine detail and flattened the relief. Figure 12 is a genuine example (courtesy of Heritage Auctions). Since all of the counterfeits are high grade (XF and up, except for damaged ones), the embossing of the face plate is nicely visible around the open edges of the back (see figures 13-14 for counterfeit and genuine backs). The best diagnostic is the serial numbers, which are sans-serif on the fakes and with serifs on the originals. I have been unable to acquire a genuine $100 note, but I do have a very battered $50 piece (figure 15). The medallion in the center of the back is the same as was used on the $100 note. Figures 16 and 17 show counterfeit and genuine detail at 20x. Note the many places where the counterfeit has shorter lines, missing lines, and other discrepancies. Even though the $50 back is heavily worn, that difference in detail is still visible. Next time we move around the world?to the Straits Settlements. Figure 12 Figure 11 Figure 13 Figure 14 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 48 The Quartermaster Column by Michael McNeil Confederate quartermasters did not suffer the horrendous casualty rates of the typical soldier?their job was supply, not combat. Of the 259 officers researched by the author, virtually all of them quartermasters and commissaries, only 1.9% were killed, another 1.2% died of disease, and 5% were wounded. Watkins L. Wickham was appointed on November 19th, 1861 as Capt. & Assistant Quarter Master reporting to Gen?l Albert Sydney Johnston in Tennessee. Quartermaster vouchers dated in December of 1861 located Wickham in Bowling Green, Kentucky. On April 2nd, 1862 Watkins received $1,000 in quartermaster funds at Corinth, Mississippi from Capt. Griff P. Theobald (who is also a fascinating quartermaster and will be the subject of a future column). These funds were delivered just days before the Battle of Shiloh, the scene of unprecedented carnage on American soil. Wickham was not only present at this battle, he was on the front lines in the thick of some of the most vicious fighting. We know this from the first-hand accounts of the role he played when Gen?l Albert Sidney Johnston was mortally wounded. Rallying his troops into battle on April 6th Gen?l Johnston?s uniform had been ripped by minie balls in several places and one of them severed an artery behind his knee. An account of what happened next is found in a letter to Col. William Preston, brother-in-law to Gen?l Johnston and a member of Johnston?s staff. It is written by Isham G. Harris, former Governor of Tennessee. ?In answer to your verbal inquiry as to the circumstances surrounding Genl. Albert Sidney Johnston immediately preceeding his fall. As you are aware, I was acting as volunteer aid to Genl Johnston on the field. ?He was upon the right wing where the enemy being strongly posted made an obstinate stand. As you remember, our troops, after a long and desperate struggle wavered for a moment when Genl Johnston rushed in front of the line of battle, rallied the troops ordered and led the charge. The enemy fell back between a fourth & one half mile, when the firing became very heavy on each side. Our advanced position exposed our troops to a raking fire of a battery of the enemy on our left. The last order the Genl gave was to direct me to ?order Col Statham of Mississippi to charge that battery.? I immediately delivered the order and rode back to the side of the Genl, said to him ?Genl your order is delivered and being executed? just at this moment the Genl sank down in his saddle leaning over to the left I instantly put my left arm around him pulling him to me saying ?Genl are you wounded?? He said ?yes and I fear seriously.? Capt Wickham being on his left & I upon his right we held him up upon his horse until we guided his horse from the crest of the THE BATTLE OF SHILOH, by Thure de Thulstrup, 1888, public domain, United States Library of Congress, digital ID pga.04037 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 49 hill to the ravine, where we lifted him from his horse, laid him upon the ground. I took his head in my lap. He never spoke after answering my question though continued to breathe for 25 or 30 minutes. Immediately after dismounting the Genl Capt Wickham sent for the surgeon. I sent a soldier to bring any staff officers he could find to me. [After] some 10 or 15 minutes yourself and other members of the staff arrived. As to what occurred after this time you are as familiar as myself. ?The country will mourn his death as a national calamity.?1 This account varies in some important points from other recollections, specifically giving more detail to the role played by Capt. Wickham on the front lines of battle. The header of this account by Harris was ?Shilough Battlefield, Apl 6th 1862,? dated the day of the battle in which Gen?l Johnston died, giving this account the advantage of fresh recollections. Wickham was promoted to Major on June 17th, 1862, but he declined the commission, a rare an unexplained action. The illustrated Type-41 Treasury note was issued by Wickham on April 16th, 1863, by which time he had moved to Atlanta, Georgia as an Assistant Pay Quarter Master reporting to the office of Major Smith. The clear stamps on the back of this note show that interest was paid on this note to January 1st, 1864 at Montgomery, Alabama and in 1865 at Columbus, Mississippi. A list of quartermasters at Atlanta dated August 20th, 1864 noted Wickham?s age at 40 years and his health ?stout.? He later appeared on a muster roll of officers on the staff of Hardee?s Corps dated April 27th, 1865, who surrendered and were paroled at Greensboro, North Carolina on May 2nd, 1865. Wickham signed an oath of allegiance to the United States on May 31st, 1865 at Nashville, Tennessee. This document listed his residence as Hanover County, Virginia, and described his complexion as fair, with brown hair, grey eyes, and a stature of six feet.2 Wickham?s endorsements on Confederate Treasury notes are very collectible with an R10 Fricke rarity. More material on Wickham can be found in Confederate Quartermasters, Commissaries, and Agents on pages 743-747. His signature is elegant and like the illustrated example typically signed in red ink. Happy hunting! McNeil 1. www.historynet.com/albert-sidney-johnston, accessed 29 Sep 2018. The quotation is from a letter by Isham G. Harris in Col. Preston?s notebook residing in the National Archives, part of the special collection of Records of the Adjutant General?s Office. The original article was edited by Charles F. Cooney. 2. McNeil, Michael. Confederate Quartermasters, Commissaries, and Agents, pp. 743-747, published by Pierre Fricke, 2016. THE DEATH OF ALBERT SYDNEY JOHNSTON, source: www.nps.gov/parkhistory/online_books/ civil_war_series/22/images/fig42.jpg The back of the Type-41 Treasury note with an endorsement which reads: ?Issued April 16th 1863, W. L. Wickham, Capt. & AQM.? image Randall Smith ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 50 The front of the Type-41 Treasury note endorsed by Capt. Watkins L. Wickham, Assistant Quarter Master. image Randall Smith A voucher for the receipt of $275,000.00 in funds by W. L. Wickham on September 17th, 1864 at Jonesboro, Georgia. image Fold3.com ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 51 The Obsolete Corner The Parker House by Robert Gill The New Year is now here, and I'm looking forward to seeing what it has in store for me in my paper money collecting. I'm hoping that I'll able to acquire something in this month's FUN auction, which will be going on about the time that you're reading this. But now, let's look at the sheet that I've chosen to share with you in this article. In this issue of Paper Money, we will be looking at The Parker House, which holds an important place in Bostonian history. Mention the name Omni Parker House, and a century and a half of rich and varied history comes to mind. Founded by Harvey D. Parker in 1855, The Omni Parker House Hotel is the oldest of Boston?s elegant hotels. The original Parker House opened for business on October 8th, 1855, making it the longest continuously operating hotel in America. Additions and alterations were made to the original building starting only five years after its opening. Between 1866 and 1925, the hotel increased in size with new stories and additions, eventually expanding its footprint over forty one thousand four hundred square feet of land - the bulk of the city lot bordered by Tremont, School, and Bosworth Streets, and Chapman Place. Harvey Parker operated the hotel until his death in 1884. Since then, it has been under control of several prominent people, and today, is part of the Omni Hotel Management Corporation. The hotel introduced to America what became known as the European Plan. Prior to that time, American hotels had included meals in the cost of a room, and only offered them at set times. The Parker House charged only for the room, with meals charged separately, and offered whenever the guest chose. It also created Massachusetts? state dessert, Boston Cream Pie, invented the Parker House roll, and coined the word ?scrod?, which is not a kind of fish, but a term for the freshest, finest, and youngest white fish of the day. The original Parker House building, and later architectural additions, were demolished in the mid-1920s, and replaced in 1927 with a sleek, modern building, essentially the one that stands there today. One wing of the original hotel remains, and is still in use. During its life, The Omni Parker House is where some of the brightest lights of America?s Golden Age of Literature - writers like Emerson, Thoreau, Hawthorne, and Longfellow - regularly met for conversation and conviviality in the legendary 19th Century Saturday Club. It was here where baseball greats, like Babe Ruth and Ted Williams, wined, dined, and unwound. And it was here, too, where generations of national politicians, including Ulysses S. Grant, Franklin D. Roosevelt, and John F. Kennedy, assembled for private meetings, press conferences, and power breakfasts. And now, into the 21st Century, the hotel currently has over five hundred fifty rooms and suites. In 2009, AAA named it one of the top ten historic U.S. hotels. The Omni Parker House is also a member of the National Trust for Historic Preservation?s Historic Hotels of America program. So there's the history behind this fabulous and rare sheet of Massachusetts Obsolete Currency. This is a tough state for a sheet collector like myself, and I was very fortunate to be able to acquire it. I really enjoy hearing from our members. So, as I always do, I invite any comments to my cell phone (580) 221-0898, or you can also reach me at my personal email address robertgill@cableone.net Until next time... Happy Collecting? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 52 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 53 $ m a l l n o t e $ Banks Issue New $1 Federal Reserve Notes By Jamie Yakes Treasury released a press statement in November 1963 to announce the new $1 Federal Reserve Notes being issued by Federal Reserve Banks. A portion of that announcement1 is reproduced here: Treasury Department, Washington, D.C. - For Immediate Release, - No. D-1056 November 26, 1963 NEW $1 FEDERAL RESERVE NOTES NOW BEING DISTRIBUTED The Board of Governors of the Federal Reserve System and the Treasury Department announced today that more than 50 million new $1 Federal Reserve Notes are going into circulation. Issuance of the new $1 Federal Reserve Notes, authorized by Congress last June, has begun at all 12 Federal Reserve Banks and their 24 Branches to commercial banks in every part of the country. This will make silver more available for coinage purposes and to help meet the increased demand for currency in connection with pre-Christmas business. To facilitate the widest possible distribution, the initial supply of the new notes is being distributed through normal commercial banking channels; none of the first 50 million notes will be available to the public at any of the Federal Reserve Banks or Branches. The new $1 Federal Reserve notes closely resemble the present $1 silver certificates, which ultimately they will replace completely. The back of the new notes and the portrait of George Washington on the face will be exactly the same as the $1 silver certificates. The main difference will be the addition of a symbol, appearing to the left of the portrait, identifying the issuing Federal Reserve Bank, and the wording on the face of the bill. The notes bear the signatures of the Secretary of the Treasury [Kathryn O?Hay Granahan] and the Treasurer of the United States [Clarence Douglas Dillon] as do Federal Reserve notes of other denominations. Increased industrial demands had forced the demise of the silver certificate (and that of silver coinage) in the 1960s. For over a century through the implement of various silver purchase programs, Treasury had tightly controlled the domestic silver market. This allowed them to dictate what they paid for it?often less than $1 an ounce?and monetize it on their books at $1.29 an ounce. This ensured a steady stream of seignorage profit as the U.S. Mint minted silver bullion into silver dollars at a cost less than the $1 it cost the public to acquire each coin. By the 1950s, increased demands for silver from industrial interests, especially the photographry industry, had put pressure on the market price. The surge crested in 1964, when the market price matched the Treasury?s monetary value and eventually exceeded it. Treasury had seen the end coming, however: In June 1963, they announced they would begin to issue $1 Federal Reserve Notes and cease printing silver certificates. In July they began to redeem outstanding silver certificates only for silver bullion and not silver dollars. Four years later, in 1968, they halted the redemption of silver certificates for any silver and instead paid out only ?lawful money? in the form of legal tender notes. Federal Reserve Notes had been the predominant circulating currency since World War II, and $1 notes finally joined that roster after the type had been circulating for almost 50 years. They became the first new type of $1 note printed by the Treasury since they issued $1 United States Notes in 1933. Today, the $1 Federal Reserve Note is an iconic American symbol?the familiar portrait of George Washington on a $1 greenback is unmistakable around the world. Sources Cited: 1. Treasury information release for new $1 Federal Reserve Notes, November 26, 1963. Record Group 53-Bureau of the Public Debt: Entry UD- UP 13, ?Historical Files, 1913-1960,? Box 12, File 723. National Archives and Records Administration, College Park, Maryland. ? ? ? Series?1963?$1?Federal?Reserve? Note?issued?from?Boston.?(Photo? courtesy?Heritage?Auction? Galleries.)? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 54 ? ? ?? ? by?Robert?Calderman? ? Trainspotting?for?the?advanced?collector!??? ???Back? in?the?olden?days?of?yore,?a?select?group?of? dedicated? Englanders? would? spend? countless? hours? outdoors,? rain? or? shine,? far? too? often? the? former,? watching?the?rails?and?counting?the?cars?as?they?rolled?on? by.?These?rather?obsessive?railfans?would?even?keep?a?log? book?and?track?what?they?saw,?sharing?with?their?fellow? enthusiasts?the?movement?of?rolling?stock?on?its?journey? along? the? rails.? While? this? hobby? would?ve? no? doubt? helped?pass?the?time?in?the?dark?days?of?the?pre?internet? era??I?think?I?ll?stick?with?collecting?currency!?? ???Spotting?trains?on?currency?is?a?highlight?for?many? collectors,?including?myself!?Beautiful?train?vignettes?can? be? accumulated? and? even? matched?up? on? numerous? obsolete?and?scrip?notes?from?all?over?the?country.?World? notes,?many?full?of?vibrant?color,?often?feature?detailed? images?of?classic?and?modern?trains.?Confederate?issued? currency? offers? an? interesting? opportunity? with? both? vignettes? and? genuine? autographs? in? the? form? of? endorsements? on? the? back? of? $100? notes? from? actual? enlisted? soldiers? and? authorized? civil? agents!? Many? collectors?even?branch?out? into? the? land?of? stocks?and? bonds? to? further? fuel? their? insatiable? taste? for? locomotives.? ???With?all?this?grand?variety?available?for?us?to?enjoy,? it?might?be?tough?to?know?where?to?start?collecting!?Since? we? find?ourselves? in?Cherry?Pickers?Corner,? let?s?delve? into?the?CSA?arena?and?examine?a?significant?opportunity? to?hunt? for? treasure? in? the?T?40?series.?On? the?surface,? both? T?39? and? T?40? $100? Confederate? train? notes? are? decidedly? common? interest?bearing? issues?with? ample? survivors?for?one?to?choose?from.?These?two?types?vary? slightly?by?vignette?with?the?most?noticeable?difference? easily?identifiable?without?magnification.?The?locomotive? featured?on? the?T?39? is?billowing?white?smoke? from? its? stack? and? the? T?40? instead? puffs? out? a? diffused? clear? looking?smoke.?The?back?of?these?notes?was?intentionally? left? blank? during? printing? since? this? real? estate? was? needed? for? interest? paid? stamps,? and? less? frequently,? interest? paid? penned? notations,? along? with? the? occasional? and? sometimes? very? rare? manuscript? endorsements.?? ? ? Late?issued?T?40.?The?last?date?used?on?the?face?of?these?notes?was?just?ten?days?later,?on?January?16th,?1863?? ? ???The? layout?of?these?notes? is?extremely?attractive? for? a? rather? simple? monochrome? printing.? The? train? vignette? dominates? the? forefront? of? the? design.? Large? bold?counters?on? the? right? leave?no?question?as? to? the? high?denomination?issue,?and?a?lovely?lass?nicknamed?the? milkmaid?in?the?lower?left?gives?the?note?a?bit?of?a?homey? appearance.????? ???At?a?recent?major?auction,? there?was?a?raw?T?40? that?caught?my?eye?as?I?studied?the?hefty?auction?catalog.? This? example? was? circulated? and? nothing? of? a? show? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 55 stopper?as?made?clear?by?the?opening?bid?and?estimate.? What?first?caught?my?eye?was?the?completely?blank?back? without? any? interest? paid? stamps.? This? alone,? did? not? necessarily?mean?anything?special.?From?time?to?time?an? example?will?have?been?held?without?receiving?interest.? However,?the?few?times?I?have?seen?them?in?the?past?they? have?always?been?in?much?higher?grade.?Likely?they?were? remainders? or? just? examples? receiving? little? to? no? circulation.? ? ? A?very?attractive?and?deceptive?contemporary?counterfeit?CT?40?? ??? ???This?moderately?circulated?example?stood?out?to? me? and? I? promptly? dug? a? little? deeper.? If? you? haven?t? invested?in?it?already,?pick?up?the?Collecting?Confederate? Currency?Field?Edition???2014?by?Pierre?Fricke.?If?you?are? a?variety?hunter?like?me,?and?really??how?can?you?not?be,? this?is?an?invaluable?reference?for?the?Confederate?paper? money?category.?The?pick?up?points?on?all?major?varieties? are? in? the? book? and? I? remembered? there? was? a? key? identifier?to?nailing?down?a?very?special?T?40.?A?specific? design?element?allowing?you?to?determine?if?you?have?a? home? run?note?or? just? a? common? example.? Look? very? closely?at?the?central?train?vignette?on?the?first?image?and? then?the?second?note?offered?at?auction.?There?are?some? minor?under?inking? variances,?but? that?s?not?what? you? are?looking?for.?? ??Take?a?good?look?behind?the?engine?and?then?again? right?behind?the?second?box?car,?or?to?the?left?of?the?first? passenger?car.?Do?you?see?the?difference??Something?is? clearly?missing.?Where? are? the? trainmen??How?does? a? counterfeit?artist?take?so?much?time?to?very?skillfully?and? quite?accurately?emulate?a?genuine?$100?train?note?and? then?just?throw?his?hands?up?and?not?bother?to?add?the? locomotive? crew? members,? wow!? This? variance? was? something?that?stood?out?as?a?very?attractive?and?unique? difference? in?design? that?made?me?ponder? the?exciting? possibility?of?landing?an?example?someday,?and?possibly? at?a?deep?discount.?A?Cherry?Pickers?Dream!? ? ?????????? ? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 56 ???If? you? know? your? confederate? notes,? you? are? already? aware? of? the? contemporary? counterfeits? that? were? very? prevalent? among? the? many? denominations? and? series? that? circulated? during? the? war.? Some? counterfeit?notes?are?extremely?common,?and?others?are? worth? significantly?more? than? a? genuine?example.? The? train?notes?were?no?exception?and?counterfeiters?did?not? shy?away?from?this?high?face?value?$100?issue.?There?is?a? notable? survival?variance?between? the? two? counterfeit? train?varieties.?The?CT?39?is?uncommon?but?available,?and? the? CT?40? is? significantly? tougher? even? though? the? current?market?has?seen?these?notes?trade?at?affordable? prices? ($300?$500),? that? is? if? you?re? lucky? enough? to? locate?an?example.?The?note?here?on?display?hammered? for?a?paltry?$70.?It?was?a?spectacular?day?that?the?auction? lot? went? unnoticed? by? the? masses? and? a? fortunate? student? of? the? hobby? was? the? victor? and? landed? the? spoils.?The?consignor?and?the?auction?house?missed?this? one?and?for?those?with?a?keen?eye,?opportunities?clearly? await?the?select?few?who?are?willing?to?hunt.?An?extra?tip,? the?date?of?issue?is?way?out?of?range?on?this?CT?40?vs.?a? genuine?T?40?example!? ???Do?you?have?a?great?Cherry?Pick?story?that?you?d? like? to? share?? Your? note?might? be? featured? here? in? a? future?article?and?you?can?remain?anonymous?if?desired!? Email?scans?of?your?note?with?a?brief?description?of? what? you? paid? and? where? it? was? found? to:? gacoins@earthlink.net?? ? ? ? T?40?Example?featuring?a?nice?variety?of?interest?paid?stamps?and?a?T.?Sanford?Issued?at?Montgomery?Stamp.? ? ? ? ? CT?40?Example?without?interest?stamps?or?manuscript?endorsement.?Not?a?standalone?identifier?for?a?counterfeit.? ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 57 A Museum of One?s Own In my last column I used the tragedy of the National Museum of Brazil fire to raise the question of whether centralized museum repositories or decentralized collectors? holdings were the better way to preserve the historical and cultural legacies of numismatic artifacts like paper money. The Brazilian fire was, of course, a blow against the centralized model of preservation. The even more recent Camp Wildfire that destroyed Paradise, California, offers a cautionary tale about the other alternative. In that disaster, numismatic writers and researchers Nancy Oliver and Richard Kelly not only saw the destruction of much of their working material, but experienced the anguish of losing a loved one. In an E-Sylum post, Wayne Homren has also noted how, twice in the previous decade, the numismatic literature dealer George Kolbe, also a California resident, experienced fire scares. Global warming will only make such events more frequent. Online repositories, of both numismatic items and their documentation, offer a something of a remedy. That is why projects like the SPMC?s Obsoletes Database or the Newman Numismatic Portal make such sense. In this column I look at a few efforts that individuals themselves have undertaken to create their own online compendiums?in effect, virtual museums of their own collections. While lacking the comprehensiveness of collective efforts, individual sites represent labors of love that tell you something about the quirks and idiosyncrasies of single collectors? tastes. Some sites are technically more sophisticated than others, though these days a number of free blogging sites, some quite hobbyist-friendly, provide perfectly serviceable platforms for showcasing individual collections. Many of these collector blogs and websites soldier on with some obscurity, lasting as long as their makers. Here are a few that deserve a look: Tom Chao?s and Steven Bron?s websites and blogs. These two sites reflect diversified collecting interests. Chao maintains both a website for his collection (with a small store) as well as a blog with timely updates of new issues. Bron?s single website displays both his collection and highlights new issues, sometimes with extensive commentary. Bron?s homepage also features a useful and very generous set of links to other sites of collector interest. In their own ways, both sites reflect the tastes of their creators. Chao has, among other things, a neat gallery of hyperinflationary banknotes (but it needs updating!), while Bron has a weakness for fantasy banknote issues (oh well). Rod Charlton?s website on U.S. depression scrip. Active for over fifteen years, Rod?s site represents, to my mind, the single most comprehensive source of images for this particular episode of emergency money. Beginning with those 1930s issues, Charlton?s interests have broadened over the years to include 1907 panic scrip, modern local currency, and a variety of other exchange media that have circulated alongside official United States currency. Charlton deserves credit for trying to integrate into his galleries primary and secondary materials that provide background to the sometimes-obscure issues of depression scrip, including period letters, pamphlets, and other paper ephemera. Cigar and other premium coupons at Tony Hyman?s National Cigar Museum. While only a small portion of his massive online museum devoted to all things possible to collect concerning cigars, Tony Hyman?s fine gallery of United Cigar, Mutual-Profit, and United Profit-Sharing coupons and certificates has whetted my appetite for this particular collectible ephemera. ?Boordgeld? (Dutch Ship?s Money). While reading about scrip used on the Rhine River in the German publication Geldscheine-Online, I came across this Dutch website devoted to a very particular form of currency I?d never heard of: Dutch Boordgeld, best rendered as ship?s money. Easily translated into English, the website introduces an exchange medium once used on Dutch shipping around the world. An artifact of the exchange restrictions after World War II, when the Dutch guilder was not yet a convertible currency, Boordgeld allowed travelers to purchase at onboard commissaries without the need to use scarce official funds. At a time when the Netherlands still held on to colonial possessions in Southeast Asia, the amount of civilian and military traffic was substantial, giving rise to a seafaring economy of onboard transactions. Like Charlton?s website, this site (whose author is unclear to me) includes much additional material on Dutch maritime operations of the time, including ships? newspapers, as well as links to travel reminiscences by young Dutch soldiers on their way to the East Indies. The foregoing are only a handful of examples of such sites; many more no doubt exist. Links to all these sites, and accompanying blogs where present, can be found at the ?News & Notes? section of our SPMC website. Each site represents a niche filled by a collector whose passion has not only preserved one small slice of the past, but has brought it back to life for us to enjoy in the present. Chump Change Loren Gatch ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 60 President?s Column Jan/Feb 2019 For this edition of Paper Money our beloved editor is pushing up the deadline for copy so that we can have our journal published before the FUN convention in early January. We are making this major convention an outreach event for the Society and hobby. After all, what better place is there to nurture new currency collectors than a major coin show? You?ll notice elsewhere in this issue a page dedicated to our FUN speakers? forum, where we hope to draw in those pre-disposed to collecting money, and educate them on the many aspects that make the paper variety of such importance to us. We welcome your attendance & hope you?ll bring a friend or two. Being near the end of the year as I write this, and near the beginning of the year when this is published, I?d like to reflect on our accomplishments for the year 2018, and look ahead to what we have on the burner for 2019. I?m happy to report that our membership numbers have stabilized, pulling out of a multi-year decline that has affected us and many other numismatic and collectables disciplines. Normally, I wouldn?t be so enthusiastic when a bad situation is simply no longer bad, but you have to understand that hobbies like ours are undergoing a generational change. We have to work harder to get the attention of those who would enjoy our hobby but never get the exposure due to an increasingly crowded space of pursuits of leisure. To that end, over the last year our board of governors has 1) increased our presence at regional numismatic events, including seminars and hosting club tables, 2) engaged in advertising exchange programs with numismatic organizations and online collecting forums, 3) implemented a new, attractive and substantially better website, 4) added value to our membership with programs such as the Obsoletes Database Project, now featuring registry set competition, and 5) updated our mission statement and grant processes, to clearly project what we as a Society are all about. I have to say once again how proud I am of our governing body and their hard work and dedication to improving our organization and hobby. They have really come through for us. We have some plans in the works at this time that you will see come to fruition in 2019. Next year we are implementing a new framework for exhibits, judging and awards at the IPMS in Kansas City. The point of this is to encourage greater participation of exhibitors, with the expectation that monetary awards will draw higher quality exhibits. Details of these changes will be forthcoming soon. In our effort to continually add value to your SPMC membership, I?m very much looking forward to Mark Drengson?s rollout of the national bank database I mentioned in my previous column. This is the massive Andrew Pollock database of officer and bank data pulled from the Comptroller?s reports of National Banks, further polished by Peter Huntoon, and made easily accessible and searchable by Mark Drengson. Mark is taking this further by building a banks and bankers wiki (in the style of Wikipedia) where users can contribute their knowledge, setting this up to be the ultimate go-to destination for U.S. historical banking information. I?ve seen a preview of what he?s up to and it looks great. Smaller efforts for next year include having our developer build a Donors? Board on our website, so that we may more appropriately recognize those making monetary contributions to SPMC. Further, we are investigating ways to make available more paper money research to you digitally, which may include electronic versions of past SPMC publications. We are a project-driven group, so as we see more opportunities out there, we will strive to take advantage of them. I hope you had a great Christmas and New Year?s holidays, and took the time to really appreciate your friends and family. Now, let?s get back to building our collections, starting with the FUN show. Be sure to stop by table 869 to talk banknotes with your SPMC leadership team. We?d enjoy the chance to chat with you. Shawn ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 61 Welcome to Our New Members by Frank Clark?SPMC Membership Director NEW MEMBERS 11/05/2018 14867 Eric Agnew, Website 14868 M.S. Kazanjian, Frank Clark 14869 Jonathan Clary, Website 14870 Dennis Witter, SPMC Membership Application 14871 Richard Sachen, Website 14872 Scott Griffin, Website 14873 Pat Cyrgalis, Frank Clark 14874 Dan Wehner, Jason Bradford 14875 Kathrynn King, Don Kelly 14876 Thomas Rogers, ANA Ad 14877 Robert Griffiths, Website 14878 Ron Dickenson, Robert Calderman REINSTATEMENTS None LIFE MEMBERSHIPS None NEW MEMBERS 12/05/2018 14879 Stephen Finch, ANA Ad 14880 Brian Lavin, Website 14881 Brian Jones, PMG 14882 Jan Pallares, Website 14883 Keith Johnson, Tom Denly 14884 Tommy McDowell, Robert Calderman 14885 Gordon Sherard, Robert Calderman 14886 Lee Thomason, Robert Calderman 14887 Evangelos Fysikas, Website 14888 Jeremy Dansie, Website 14889 C.G. Rodgers, Robert Calderman 14890 David Harley, Robert Calderman 14891 David Durham, Robert Calderman 14892 Brian Cesnauskas, Robert Calderman 14893 Kenneth Klebash, Jason Bradford 14894 Barry Schweinfest, drew Loulis, Frank Clark 14896 Nate Kolakowski, Website 14897 James Jackson Jr, Jason Bradford REINSTATEMENTS None LIFE MEMBERSHIPS None ? Join us at F.U.N. 2019!!! Visit us at the SPMC table #869 Friday?4 different speakers on paper money topics 0830-1230p Room W304F Saturday?SPMC membership meeting with speaker. 0830 Room W303B ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 62 An Index to Paper Money Volume 57, 2018 Whole Numbers 313-318 by Terry A. Bryan Yr. Vol. No. Pg. Abernathy, John M. Columbia, Tennessee?s First Bank ................................................................ 18 57 313 39 BANKS, BANKERS & BANKING The Adoue Banking Family of Dallas, Texas, Frank Clark .......................... 18 57 313 25 Columbia, Tennessee?s First Bank, John M. Abernathy ............................... 18 57 313 39 The Father of the Adams Bank, Josh Colon (Massachusetts) ....................... 18 57 313 48 John Jay Knox & the Central Bank at New Ulm, Shawn Hewitt .................. 18 57 314 125 A Montgomery Mystery: Who Was John Henley Bill Gunther .................... 18 57 318 414 The Stockyards National Bank of North Fort Worth, Frank Clark................ 18 57 314 114 Boling, Joseph E. (Uncoupled Column) Finds at MPCFest XIX .................................................................................. 18 57 316 258 More On Federal Reserve Notes, .................................................................. 18 57 314 133 More On Federal Reserve Notes Part 2 ......................................................... 18 57 315 197 Specimens .................................................................................................... 18 57 313 31 A Well-Done Fake, (Mali counterfeit) .......................................................... 18 57 317 346 World War I (counterfeit British notes) ......................................................... 18 57 318 423 Calderman, Robert Cherry Picker?s Corner, (1935 A $5 Federal Reserve mule) ......................... 18 57 317 352 Cherry Picker?s Corner, (Georgia Obsolete Note) ......................................... 18 57 318 436 Chambliss, Carlson R. The Banknotes of Zambia & Malawi Reflect the Economic Problems of Two African Nations, .................................................................... 18 57 317 336 A Detailed Survey of the Federal Reserve Notes of Series 1996 To Date .... 18 57 313 50 Good News!! (return of stolen currency) ....................................................... 18 57 313 57 Nicaragua?s Paper Money Reflects Both Stability & Chaos ......................... 18 57 316 235 Clark, Frank The Adoue Banking Family of Dallas, Texas ............................................... 18 57 313 25 Kristenstad, A Texas Utopia, (Depression scrip) ........................................ 18 57 316 266 The Stockyards National Bank of North Fort Worth, (Texas) ...................... 18 57 314 114 Colon, Josh The Father of the Adams Bank, (Massachusetts) .......................................... 18 57 313 48 COLONIAL AND CONTINENTAL CURRENCY Colony of North Carolina One Pound, December, 1771, David Lok ............ 18 57 313 21 CONFEDERATE AND SOUTHERN STATES CURRENCY My Over-15-Year Hunt: 2711 Note Survey on T-64 CSA $500 Notes: What Was the Last Note Issued? : A Detailed Update Steve Feller ....... 18 57 315 180 Quartermaster Column, Michael McNeil, (Confed. Note Endorsements) ..... 18 57 316 274 (Virginia, care of CSA army animals) ....................................... 18 57 317 354 (Confederate Navy finance) ....................................................... 18 57 318 440 Seaton Grantland Tinsley, Clerk for the Confederate Treasury and Signer Of Confederate Notes, Charles Derby .................................................... 18 57 314 116 Unusual Confederate Printed Backs, Michael McNeil .................................. 18 57 314 108 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 63 COUNTERFEIT, ALTERED & SPURIOUS NOTES Finds at MPCFest XIX, Joe Boling, Fred Schwan (WWII counterfeits) ....... 18 57 316 258 Who Grades the Graders? Loren Gatch (counterfeits) .................................. 18 57 314 147 Specimens, Joseph E. Boling, Fred Schwan (Uncoupled column) (Japan and MPC specimens and counterfeits) ......................................... 18 57 313 31 A Well-Done Fake, Joseph E. Boling (Mali counterfeit) .............................. 18 57 317 346 World War I, Joseph E. Boling (British counterfeit notes) ........................... 18 57 318 423 Derby, Charles No Bank? No Problem? The Arkadelphia Exchange, Arkansas.................... 18 57 317 310 Seaton Grantland Tinsley, Clerk for the Confederate Treasury Department and Signer of Confederate Notes ............................................................ 18 57 314 116 ENGRAVERS & ENGRAVING AND PRINTING The Dies That Fathered BEP $10 & $20 Series of 1875 & 1882 Nationals Peter Huntoon (The Paper Column) ........................................................ 18 57 313 8 Cleveland Cashier?s Missing #100,000,000 $1 Note, Jamie Yakes (Small Notes column) (Silver Certificates) ............................................. 18 57 313 62 Misspelling Error on $1000 Series 1882 Gold Certificates, Peter Huntoon, Doug Murray (The Paper Column) ......................................................... 18 57 318 368 More on Federal Reserve Notes, Joseph E. Boling ....................................... 18 57 314 133 More on Federal Reserve Notes, Joseph E. Boling ...................................... 18 57 315 197 Patented Lettering on BEP Products, Peter Huntoon (The Paper Column) ... 18 57 314 93 R & S $1 1935A Experimentals, Jamie Yakes (Small Notes column) .......... 18 57 318 431 Sherlock Holmes & the American Bank Note Co. Mystery, Greg D. Ruby . 18 57 317 318 Very Peculiar 1981 FRN Fold-Over Error, Peter Huntoon ........................... 18 57 315 190 Farrenkopf, Joe Anatomy of a Series, ($10 Federal Reserve Notes? Plate Numbers) ............. 18 57 318 395 Un-serialed Replacement Sheet Notes, (Federal Reserve Notes) .................. 18 57 316 262 Feller, Steve My Over-15-Year Hunt: 2711 Note Survey on T-64 CSA $500 Notes: What Was the Last Note Issued?: A Detailed Update............................. 18 57 315 180 Fricke, Pierre A Fond Farewell to Eric Newman ................................................................. 18 56 313 5 Gatch, Loren (Chump Change column CCC) Collecting on the Web, Twenty Years On, (CCC) ........................................ 18 57 315 212 In Algorithms We Trust (CCC) (Bitcoin) ...................................................... 18 57 313 61 ?News & Notes? at Four Years (CCC) .......................................................... 18 57 317 360 Preserving Paper Money (CCC) .................................................................... 18 57 318 439 ?Shortcuts to Utopia?? Townsend Test Scrip ................................................ 18 57 317 326 The Silver Certificate-After a Half Century, (CCC) ...................................... 18 57 316 279 Who Grades the Graders?, (CCC) (counterfeits) ........................................... 18 57 314 147 Gill, Robert (Obsolete Corner) The Chicago Marine & Fire Insurance Company .......................................... 18 57 315 210 The City Bank of Leavenworth, Kansas ........................................................ 18 57 314 144 The Cooper Shop Volunteer Refreshment Saloon ......................................... 18 57 315 188 The James River & Kanawha Company ........................................................ 18 57 316 276 The Morris Canal and Banking Company ..................................................... 18 57 313 66 (Incorrectly titled article about Nashville, Tennessee banks) ........................ 18 57 318 442 The West Feliciana Rail Road,) (Mississippi) ............................................... 18 57 317 358 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 64 Gladfelter, David D. Wait 2389: End of the Obsolete Era in New Jersey, ................................... 18 57 317 344 Gunther, Bill Choctaw Corner: A Dead Town in Alabama, .............................................. 18 57 316 230 A Montgomery Mystery: Who Was John Henley? (Alabama scrip) ............. 18 57 318 414 Hewitt, R. Shawn John Jay Knox & the Central Bank of New Ulm, (N.Y. & Minnesota) ...... 18 57 314 125 Series of 1882 & 1902 National Bank Replacement Notes after 1903 ......... 18 57 316 242 SPMC?s ODP Set Registry, (Obsolete Currency website) ............................ 18 57 313 58 Hollander, David Farmers & Merchants National Bank of Huntsville, Alabama, 1892-1905 .. 18 57 318 379 Horstman, Ronald Oak Hill Store, (Missouri scrip) .................................................................... 18 57 318 420 Huntoon, Peter The Changeover from 12- to 18-Subject Plates, (with Jamie Yakes) ............ 18 57 316 220 The Dies That Fathered BEP $10 & $20 Series of 1875 & 1882 Nationals .. 18 57 313 8 George Blake & Fancy Serial Numbers, (The Paper Column) ...................... 18 57 315 156 Mis-Matched Plate Letters, (Nationals, Silver Certificates) ........................ 18 57 315 192 Misspelling Error on $1000 Series 1882 Gold Certificates, .......................... 18 57 318 368 Patented Lettering on BEP Products, (The Paper Column) ......................... 18 57 314 93 Series of 1882 & 1902 National Bank Replacement Notes after 1903 .......... 18 57 316 242 Territorial National Bank Notes, (The Paper Column) ................................ 18 57 317 292 U.S. Serial Number 100,000,000 Notes, (with Jamie Yakes) ....................... 18 57 313 26 Very Peculiar 1981 FRN Fold-Over Error .................................................... 18 57 315 190 INTERNATIONAL. CURRENCY The Banknotes of Zambia & Malawi Reflect the Economic Problems Of These Two Aftrican Nations, Carlson R. Chambliss ......................... 18 57 317 336 Nicaragua?s Paper Money Reflects Both Stability & Chaos-- Chambliss ..... 18 57 316 235 Specimens, Joseph E. Boling, Fred Schwan (Japan, MPC, and counterfeit specimens) ............................................... 18 57 313 31 World War I, Joseph E. Boling, Fred Schwan (British cfts.)......................... 18 57 318 423 Zambia, ?Chain Breaker? Mpundu Mutembo, 100 Kwacha, David B. Lok . 18 57 318 390 Lofthus, Lee First The Note, Then The Man, (Sec. Henry Morgenthau) ........................... 18 57 315 186 $1 Silver Certificates of the Great Depression Revisited. (1928 C & E) ...... 18 57 314 80 Lok, David Colony of North Carolina One Pound ........................................................... 18 57 313 21 Zambia, ?Chain Breaker? .............................................................................. 18 57 318 390 McNeil, Michael The Quartermaster Column, (Confederate Note Endorsements) ................. 18 57 316 274 (Virginia, care of CSA army animals) .................................................... 18 57 317 354 (Confederate Navy finance) .................................................................... 18 57 318 440 Unusual Confederate Printed Backs .............................................................. 18 57 314 108 Melamed, Rick Civil War Patriotic Envelope with Postage Currency Note ........................... 18 57 314 130 Mea Culpa! (Fractional Currency catalog errors) .......................................... 18 57 316 264 Third Issue Fractional Error Notes (3 cents to 15 cents)?Part 1 .................. 18 57 315 163 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 65 MILITARY PAYMENT CERTIFICATES AND MILITARY CURRENCY Finds at MPCFest XIX, Joseph E. Boling, Fred Schwan .......... .................. 18 57 316 258 Micro Differences, Fred Schwan ................................................ .................. 18 57 315 197 MPC Replacements, Fred Schwan (with Joseph E. Boling) ....... .................. 18 57 314 133 Specimens, Joseph E. Boling, Fred Schwan (Japan and MPC and counterfeit specimen notes) ............... .................. 18 57 313 31 Murray, Doug (with Peter Huntoon) Misspelling Error on $1000 Series 1882 Gold Certificates ........ ................. 18 57 318 368 Nyholm, Douglas A. Mormon Currency of Nauvoo, Illinois .......................................................... 18 57 315 173 OBSOLETE NOTES & SCRIP Cherry Picker?s Corner, Robert Calderman (Georgia Obsolete Note) .......... 18 57 318 436 The Chicago Marine & Fire Insurance Company, Robert Gill ...................... 18 57 315 210 Choctaw Corner: A Dead Town In Alabama, Bill Gunther .......................... 18 57 316 230 The Cooper Shop Volunteer Refreshment Saloon, Robert Gill .................... 18 57 315 188 The City Bank of Leavenworth, Kansas, Robert Gill ................................... 18 57 314 144 Columbia, Tennessee?s First Bank, John M. Abernathy ............................... 18 57 313 39 The Father of the Adams Bank, Josh Colon (Massachusetts) ....................... 18 57 313 48 Fun With the Hobby, Fred Schwan (Sutler scrip) ......................................... 18 57 317 346 Indiana Mining Notes Are Few and Far Between, David E. Schenkman ...... 18 57 313 64 James River & Kanawha Company, Robert Gill (Virginia) .......................... 18 57 316 276 John Jay Knox & the Central Bank of New Ulm, R. Shawn Hewitt ............. 18 57 314 125 Kristenstad, A Texas Utopia, Frank Clark (Depression scrip) ...................... 18 57 316 266 A Montgomery Mystery: Who Was John Henley? Bill Gunther ................. 18 57 318 414 More Indiana Mining Notes, David E. Schenkman ...................................... 18 57 314 142 Mormon Currency of Nauvoo, Illinois, Douglas Nyholm ............................. 18 57 315 173 Mysterious Mining Notes of Port Carbon, Pa. David E. Schenkman ............ 18 57 315 208 No Bank? No Problem? The Arkadelphia Exchange, Charles Derby ........... 18 57 317 310 Oak Hill Store, Ronald Horstman (Missouri scrip) ....................................... 18 57 318 420 The President?s Column, R. Shawn Hewitt (Minnesota scrip) ...................... 18 57 316 281 San Miguel Supply Co. Note of Copper City, N.M., David E. Schenkman .. 18 57 316 278 ?Shortcuts to Utopia?? Townsend Test Scrip During The Great Depression Loren Gatch (multiple states) .................................................................. 18 57 317 326 Incorrectly titled article about Nashville Tennessee banks) .......................... 18 57 318 442 ?Star-Spangled? Merchant Scrip, Ron Spieker (Washington, D.C.) ............. 18 57 313 14 Wait 2389: End of the Obsolete Era in New Jersey, David D. Gladfelter ..... 18 57 317 344 The West Feliciana Rail Road, Robert Gill (Mississippi) ............................. 18 57 317 358 Who Grades the Graders? Loren Gatch (counterfeits) .................................. 18 57 314 147 PAPER MONEY AND FINANCIAL HISTORY Fun With the Hobby, Fred Schwan (Uncoupled column) (U.S. Bonds) ....... 18 57 317 348 World War I, Fred Schwan (Uncoupled column) (U.S. Liberty Bonds) ....... 18 57 318 423 Ruby, Greg D. Sherlock Holmes & the American Bank Note Co. Mystery .......................... 18 57 317 318 Schenkman, David E. Indiana Mining Notes Are Few & Far Between, .......................................... 18 57 313 64 More Indiana Mining Notes, David E. Schenkman ...................................... 18 57 314 142 Mysterious Mining Notes of Port Carbon, Pennsylvania .............................. 18 57 315 208 San Miguel Supply Co. Note of Copper City, New Mexico ......................... 18 57 316 278 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 66 Schwan, Fred (Uncoupled Column with Joe Boling) Finds at MPCFest XIX .................................................................................. 18 57 316 258 Fun With the Hobby, Bonds, Sutler scrip) .................................................... 18 57 317 346 Micro Differences, (MPC varieties) .............................................................. 18 57 315 197 MPC Replacements ....................................................................................... 18 57 314 133 Specimens, (Japan & MPC & counterfeit specimens) .................................. 18 57 313 31 World War I, (Liberty Bonds) ....................................................................... 18 57 318 423 SOCIETY OF PAPER MONEY COLLECTORS. Editor Sez (Benny Bolin) (Editor?s column) ................................................................................... ................ 18 57 313 69 ................................................................................... ................ 18 57 314 149 ................................................................................... ................ 18 57 315 202 ................................................................................... ................ 18 57 316 282 ................................................................................... ................ 18 57 317 361 In Memoriam: Eric Pfeiffer Newman (1911-2017) ........................................................ 18 57 313 4 Tributes to Mr. Newman ......................................................................... 18 57 313 6 Index to Paper Money, Vol. 56, 2017, Nos. 307-212, Terry Bryan .............. 18 57 313 70 Information and Officers: .................................................................................................... 18 57 313 2 .................................................................................................... 18 57 314 78 .................................................................................................... 18 57 315 153 .................................................................................................... 18 57 316 218 .................................................................................................... 18 57 317 290 .................................................................................................... 18 57 318 366 Letters to the Editor (no letters published this year) Kansas City Happenings (IPMS Show Images) ............................................ 18 57 316 233 Kansas City Service, Literary, Exhibit Awards (IPMS Show Images) ......... 18 57 316 269 Money Mart: .................................................................................................... 18 57 313 76 .................................................................................................... 18 57 314 152 .................................................................................................... 18 57 315 215 .................................................................................................... 18 57 316 287 .................................................................................................... 18 57 317 363 .................................................................................................... 18 57 318 447 President?s Column (R. Shawn Hewitt) .................................................................................................... 18 57 313 68 .................................................................................................... 18 57 314 148 .................................................................................................... 18 57 315 213 (Minnesota scrip) ..................................................................... 18 57 316 281 .................................................................................................... 18 57 317 361 .................................................................................................... 18 57 318 445 SPMC Board of Governors Meeting, June, 2017, Report of meeting ........... 18 57 316 284 SPMC: 2018 IPMS Speakers? Series Schedule ............................................ 18 57 315 194 SPMC ?News & Notes? at Four Years, Loren Gatch (SPMC blog) ............. 18 57 317 360 SPMC?s Obsolete Database Project Set Registry, R. Shawn Hewit .............. 18 57 313 58 SPMC New Members, Frank Clark, Membership Director .......................... 18 57 313 37 .................................................................................................... 18 57 314 150 .................................................................................................... 18 57 315 214 .................................................................................................... 18 57 316 283 .................................................................................................... 18 57 317 362 .................................................................................................... 18 57 318 446 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 67 Spieker, Ron ?Star-Spangled? Merchant Scrip, (Washington, D.C.) .................................. 18 57 313 14 U.S. NATIONAL BANK NOTES The Adoue Banking Family of Dallas, Texas, Frank Clark .......................... 18 57 313 25 The Dies That Fathered BEP $10 & $20 Series of 1875 & 1882 Nationals, Peter Huntoon, (The Paper Column) ....................................................... 18 57 313 8 The Farmers & Merchants National Bank of Huntsville, Alabama, 1892-1905 David Hollander ...................................................................................... 18 57 318 379 Mismatched Plate Letters, Peter Huntoon ..................................................... 18 57 315 192 Series of 1882 & 1902 National Bank Replacement Notes Printed After Mid-1903, , Peter Huntoon & Shawn Hewitt (The Paper Column) ............................ 18 57 316 242 The Stockyards National Bank of North Fort Worth, Frank Clark (Texas) .. 18 57 314 114 Territorial National Bank Notes, Peter Huntoon (The Paper Column) ......... 18 57 317 292 U.S. LARGE and SMALL SIZE NOTES Changeover From 12- to 18-Subject Plates, Huntoon and Yakes ................. 18 57 316 220 Civil War Patriotic Envelope with Postage Currency Note Rick Melamed .. 18 57 314 130 First The Note, Then The Man, Lee Lofthus (Sec. Morgenthau) ................ 18 57 315 186 George Blake & Fancy Serial Numbers, Peter Huntoon ............................... 18 57 315 156 Mea Culpa !, Rick Melamed (Fractional catalog errors) ............................... 18 57 316 264 Patented Lettering on BEP Products, Peter Huntoon .................................... 18 57 314 93 Third Issue Fractional Error Notes?Part 1, Rick Melamed ......................... 18 57 315 163 Treasury Announced New $20 Backs, Jamie Yakes .................................... 18 57 315 204 U.S. Serial Number 100,000,000 Notes, Jamie Yakes, Peter Huntoon ......... 18 57 313 26 FEDERAL RESERVE NOTES Anatomy of a Series, Plate Numbers on Series 2009 $10 Federal Reserve Notes Joe Farrenkopf ......................................................................................... 18 57 318 395 Cherry Picker?s Corner, Robert Calderman (1935A $ 5FRN mule) ............. 18 57 317 352 A Detailed Survey of the Newly Designed Federal Reserve Notes of Series 1996 to Date Carlson R. Chambliss .............................................................................. 18 57 313 50 More on Federal Reserve Notes, Joseph E. Boling & Fred Schwan ............. 18 57 314 133 More on Federal Reserve Notes, Joseph E. Boling & Fred Schwan ............. 18 57 315 197 Series of 1934A $20 Philadelphia FRNs, Jamie Yakes ................................. 18 57 317 356 Series of 1934B FRNs Carried New Bank Seals, Jamie Yakes ..................... 18 57 314 138 Ten Dollar New York Late-Finished Face 169 Varieties, Jamie Yakes ........ 18 57 316 272 Un-serialed Replacement Sheet Notes, Joe Farrenkopf ................................. 18 57 316 252 Very Peculiar 1981 FRN Fold-Over Error, Peter Huntoon ........................... 18 57 315 190 SILVER AND GOLD CERTIFICATES Cleveland Cashier?s Missing#100,000,000 $1 Note, Jamie Yakes ............... 18 57 313 62 First The Note, Then The Man, Lee Lofthus (Sec. Morganthau) .................. 18 57 315 186 Misspelling Error on $1000 Series 1882 Gold Certs, Huntoon & Murray .... 18 57 318 368 $1 Silver Certificates of the Great Depression Revisited, Lee Lofthus ........ 18 57 314 80 R & S $1 1935A Experimentals, Jamie Yakes (Small Notes column) .......... 18 57 318 431 The Silver Certificate After a Half Century, Loren Gatch ........................... 18 57 316 279 Yakes, Jamie (Small Notes Column--SNC) Changeover From 12- to 18-Subject Plates, ................................................. 18 57 316 220 Cleveland Cashier?s Missing #100,000,000 $1 Note, (SNC) ....................... 18 57 313 62 R & S $1 1935A Experimentals, (SNC) ........................................................ 18 57 318 431 Series of 1934A $20 Philadelphia FRNs. (SNC) ........................................... 18 57 317 356 Series of 1934B FRNs Carried New Bank Seals, ........................................ 18 57 314 138 Ten Dollar New York Late-Finished Face 169 Varieties, (SNC) .................. 18 57 316 272 Treasury Announced New $20 Backs, (SNC) ............................................... 18 57 315 204 U.S. Serial Number 100,000,000 Notes, (with Peter Huntoon) ..................... 18 57 313 26 ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 68 United States Paper Money specialselectionsfordiscriminatingcollectors Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type ErrorNotes Small Size Type National Currency StarorReplacementNotes Specimens, Proofs,Experimentals FrederickJ. Bart Bart,Inc. website: www.executivecurrency.com (586) 979-3400 POBox2? Roseville,MI 48066 e-mail: Bart@executivecurrency.com Buying & Selling ? Obsolete ? Confederate ? Colonial & Continental ? Fractional ? Large & Small U.S. Type Notes Vern Potter Currency & Collectibles Please visit our Website at www.VernPotter.com Hundreds of Quality Notes Scanned, Attributed & Priced P.O. Box 10040 Torrance, CA 90505-0740 Phone: 310-326-0406 Email: Vern@VernPotter.com Member ?PCDA ?SPMC ?FUN ?ANA ?? WANTED: 1778 NORTH CAROLINA COLONIAL $40. (Free Speech Motto). Kenneth Casebeer, (828) 277- 1779; Casebeer@law.miami.edu TRADE MY DUPLICATE, circulated FRN $1 star notes for yours I need. Have many in the low printings. Free list. Ken Kooistra, PO Box 71, Perkiomenville, PA 18074. kmk050652@verizon.net 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 FOR SALE: College Currency/advertising notes/ 1907 depression scrip/Michigan Obsoletes/Michigan Nationals/stock certificates. Other interests? please advise. Lawrence Falater.Box 81, Allen, MI. 49227 WANTED: Any type Nationals containing the name ?LAWRENCE? (i.e. bank of LAWRENCE). Send photo/price/description to LFM@LARRYM.com WANTED: Republic of Texas ?Star? (1st issue) notes. Also ?Medallion? (3rd issue) notes. VF+. Serious Collector. reptexpaper@gmail.com. BUYING ONLY $1 HAWAII OVERPRINTS. White, no stains, ink, rust or rubber stamping, only EF or AU. Pay Ask. Craig Watanabe. 808-531- 2702. Captaincookcoin@aol.com Vermont National Bank Notes for sale. For list contact. granitecutter@bellsouth.net. WANTED: Any type Nationals from Charter #10444 Forestville, NY. Contact with price. Leo Duliba, 469 Willard St., Jamestown, NY 14701-4129. "Collecting Paper Money with Confidence". All 27 grading factors explained clearly and in detail. Now available Amazon.com . AhlKayn@gmail.com Stamford CT Nationals For Sale or Trade. Have some duplicate notes, prefer trade for other Stamford notes, will consider cash. dombongo@earthlink.net Wanted Railroad scrip Wills Valley; Western & Atlantic 1840s; East Tennessee & Georgia; Memphis and Charleston. Dennis Schafluetzel 1900 Red Fox Lane; Hixson, TN 37343. Call 423-842-5527 or email dennis@schafluetzel ? ? ? ? $ MoneyMart $?___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 69 Fractional Currency Collectors Join the Fractional Currency Collectors Board (FCCB) today and join with other collectors who study, collect and commiserate about these fascinating notes. New members get a copy of Milt Friedberg?s updated version of the Encyclopedia of United States Postage and Fractional Currency as well as a copy of the S implified copy of the same which is aimed at new collectors. Come join a group dedicated to the are fractional fanatics! New Membership is $30 or $22 for the Simplified edition only To join, contact Dave Stitely, membership chair Box 136, Gradyville, PA 19039. SIZE INCHES 50 100 500 1000 Fractional 43/4 X 21/4 $28.40 $51.00 $228.00 $400.00 Colonial 51/2 X 31/16 $25.20 $45.00 $208.00 $364.00 Small Currency 65/8 X 27/8 $25.45 $47.00 $212.00 $380.00 Large Currency 77/8 X 31/2 $31.10 $55.00 $258.00 $504.00 Auction 9 X 33/4 $31.10 $55.00 $258.00 $504.00 Foreign Currency 8 X 5 $38.00 $68.50 $310.00 $537.00 Checks 95/8 X 41/4 $40.00 $72.50 $330.00 $577.00 SHEET HOLDERS ?? 10 50 100 250 Obsolete Sheet--end open 83/4 X 141/2 $23.00 $101.00 $177.00 $412.00 National Sheet--side open 81/2 X 171/2 $24.00 $108.00 $190.00 $421.00 Stock Certificate--end open 91/2 X 121/2 $21.50 $95.00 $165.00 $390.00 Map & Bond--end open 181/2 X 241/2 $91.00 $405.00 $738.00 $1,698.00 Photo 51/4 X 71/4 $12.00 $46.00 $80.00 $186.00 Foreign Oversize 10 X 6 $23.00 $89.00 $150.00 $320.00 Foreign Jumbo 10 X 8 $30.00 $118.00 $199.00 $425.00 DBR Currency We Pay top dollar for *National Bank notes *Large size notes *Large size FRNs and FBNs www.DBRCurrency.com P.O. Box 28339 San Diego, CA 92198 Phone: 858-679-3350 Fax: 858-679-7505 See out eBay auctions under user ID DBRcurrency 1507 Sanborn Ave. ? Box 258 Okoboji, IA 51355 Open from Memorial Day thru Labor Day History of National Banking & Bank Notes Turn of the Century Iowa Postcards MYLAR-D? CURRENCY HOLDERS BANK NOTE AND CHECK HOLDERS 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 Out of Country sent Registered Mail at Your Cost 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 29, Dedham, MA 02027 ? 781-326-9481 ORDERS: 800-HI-DENLY ? FAX-781-326-9484 WWW.DENLY?S.COM ___________________________________________________________Paper Money * Jan/Feb 2019 * Whole No. 319_____________________________________________________________ 70 Statement of Ownership, Management, and Circulation (All Periodicals Publications Except Requester Publications) 1. Publication Title PAPER MONEY 2. Publication Number 3. Filing Date 10-1-2018419 _ 940 4. Issue Frequency BIMONTHLY 5. Number of Issues Published Annually 6 6. Annual Subscription Price $25.00 7. Complete Mailing Address of Known Office of Publication (Not printer) (Street, city, county, state, and ZIP+4?) 450 FAME AVE HANOVER, PA 17331 Contact Person BENNY BOLIN Telephone (Include area code) 972-727-2395 8. Complete Mailing Address of Headquarters or General Business Office of Publisher (Not printer) SAME AS ABOVE 9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor (Do not leave blank) Publisher (Name and complete mailing address) PAPER MONEY 711 SIGNAL MTN RD #197 CHATTANOOGA, TN 37405 Editor (Name and complete mailing address) BENNY BOLIN 5510 SPRINGHILL ESTATES DR. ALLEN, TX 75002-5808 Managing Editor (Name and complete mailing address) NONE 10. Owner (Do not leave blank. If the publication is owned by a corporation, give the name and address of the corporation immediately followed by the names and addresses of all stockholders owning or holding 1 percent or more of the total amount of stock. If not owned by a corporation, give the names and addresses of the individual owners. If owned by a partnership or other unincorporated firm, give its name and address as well as those of each individual owner. If the publication is published by a nonprofit organization, give its name and address.) Full Name Complete Mailing Address PAPER MONEY 5510 SPRINGHILL ESTATES DR. 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Full Name Complete Mailing Address 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 Currency & Coin Convention during March in Rosemont, Illinois. 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 summer at the International Paper Money Convention, as well as Paper Money classes and scholarships 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. Or Visit Our Web Site At: www.pcdaonline.com James A. Simek ? Secretary P.O. Box 7157 ? Westchester, IL 60154 (630) 889-8207 ? Email: nge3@comcast.net Heritage Numismatic Auctions, Inc. AB665, Currency Auctions of America AB2218 Paul R. Minshull #AU4563. BP 20%; see HA.com 52700 DALLAS | NEW YORK | BEVERLY HILLS | SAN FRANCISCO | CHICAGO | PALM BEACH LONDON | PARIS | GENEVA | AMSTERDAM | HONG KONG Always Accepting Quality Consignments in 40 Categories Immediate Cash Advances Available 1 Million+ Online Bidder-Members PLATINUM NIGHT? & SIGNATURE? AUCTIONS January 9-14, 2019 | Orlando | Live & Online From Our Official FUN 2019 Auction Visit HA.com/3571 to view the catalog or place bids online. To consign to an upcoming auction, contact a Heritage Consignment Director 800-872-6467, Ext. 1001 or Currency@HA.com Fr. 337b $100 1878 Silver Certificate PCGS Very Fine 35 From the Coral Gables Collection Fr. 224 $1 1896 Silver Certificate Uncut Sheet of Four, Serial Numbers 5-8, Courtesy Autographed PCGS Choice About New 55 Fr. 1179 $20 1905 Gold Certificate PMG Gem Uncirculated 66 EPQ From the James P. Myerson Collection Fr. 127 $20 1869 Legal Tender PCGS Gem New 65PPQ From the James P. Myerson Collection Fr. 342 $100 1880 Silver Certificate PMG Very Fine 25 From the Coral Gables Collection