PAPER MONEY OFFICIAL JOURNAL OF THE SOCIETY OF PAPER MONEY COLLECTORS VOL. XLVI, No. 2, WHOLE No. 248 www.SPMC.ORG MARCH/APRIL 2007 ASE & Commetee Intweet The Bank nettes of Felix9 riey Prairie,Warriors by F.O.C. Darley, engraved by Sealey & Smith, 1861 -41.,”rseaM11•111111111.' - ✓ -q,Mr14C..74.061, MAW= • %Wen IftsbiletEMV,Na //fief de//e• POSTAGE STAMPS U. S. N Y. srATIONO, , , 1 ') rainah-yrdlerala4r outcOcrate 5tittr$ 0 t a/k/. v. ,./106 ..e."4"Novi simfitiO, d,eof:7} , . 'eatestoo.Q•mic.omotoGoockadi 0° American Muir Hall, 8 444 BROADWAY, 9, OPEN EVERY NIGHT. v0X 0 311, ,g,‘.50 CTS.V. • 0 ce4g>4.pec;! o ciA> 94:).:>:<yo ao,0 7SPr✓ /I h s' MEMPHIS IS COMING! -JULY 5-7, 2007 ACCEPTING CONSIGNMENTS NOW! Already consigned: the contents of Stephen Wellstood's personal scrapbook of over 60 premium quality obsolete proof notes and vignettes; an outstanding collection of Alabama obsoletes; more than 1,000 notes from the Herb and Martha Schingoethe Collection of Obsolete Paper Money, the largest ever sold at auction. Space is limited. To consign, call now! wnollM1111111111111111111111111111111e This sale is held in conjunction with Unique Antiques & Auction Gallery, Tennessee License #2077; G.A. Bryant, Auctioneer, ennessee License #2372. ESTABLISHED 1880 LARGEST AND MOST IMPORTANT CONFEDERATE NOTE AUCTION Since Smythe's World's Record-Breaking Gene Mintz Sale! APRIL 11TH - 13TH, 2007 This major sale will feature hundreds of Confederate notes from the collection of the Western Reserve Historical Society, a landmark offering of over 50 different Postage Stamp Envelopes from the same institution; over 1,000 notes from the Herb and Martha Schingoethe Collection of Obsolete Paper Money, the largest ever sold at auction, and many other important numismatic properties. Don't miss this extraordinary opportunity. To order your catalog now, call 800-622-1880. A History & Catalog ofMinnesota Obsolete Bank Notes & Scrip Not just a Minnesota Book! Gives readers the big picture of obsolete paper money. $69.95 each, shipping and handling $5.00 Quantities are Limited - Call Now to Order Your Copy! AN ESSENTIAL NEW BOOK FOR YOUR OBSOLETE NOTE LIBRARY! Annum 800-622-1880 I 212-943-1880 I 2 Rector St., 12th FL, NY, NY 10006 I info@smytheonline.com I smytheonline.com We buy, sell, and auction the very best in Banknotes, Antique Storks and Bonds, Coins, Autographs, and Anything Relating to Financial History TERMS AND CONDITIONS PAPER MONEY is published every other month begin- ning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Robert Schreiner, P.O. Box 2331. Chapel Hill, NC 27515-2331 © Society of Paper Money Collectors, Inc., 2007. All rights reserved. Reproduction of any article, in whole or part, without written permission. is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $6 postpaid. Send changes of address, inquiries concerning non-delivery. and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a specific issue can- not be guaranteed. Include an SASE for acknowledg- ment. if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a MAC CD, identified with the name and ver- sion of software used. A double-spaced printout must accompany the CD. Authors may also transmit articles via e-mail to the Editor at the SPMC web site (fred@spmc.org ). Original illustrations are preferred but do not send items of value requiring Certified, Insured or Registered Mail. Write or e-mail ahead for special instructions. Scans should be grayscale or color at 300 dpi. Jpegs are preferred. ADVERTISING •All advertising accepted on space available basis •Copy/correspondence should be sent to Editor •All advertising is payable in advance •Ads are accepted on a "Good Faith" basis •Terms are "Until Forbid" •Ads are Run of Press (ROP) unless accepted on premium contract basis • Limited premium space available, please inquire To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or additional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. Advertising Deadline: Subject to space availability copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example, Feb. 1 for the March/April issue). Camera-ready copy, or electronic ads in pdf format, or in Quark Express on a MAC CD with fonts supplied are acceptable. ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $1500 $2600 $4900 Inside covers 500 1400 2500 Full page Color 500 1500 3000 Full page B&W 360 1000 1800 Half page B&W 180 500 900 Quarter page B&W 90 250 450 Eighth page B&W 45 125 225 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaranteed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper currency, allied numismatic material, publications. and related accessories. The SPMC does not guarantee advertise- ments. but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typo- graphical errors in ads, but agrees to reprint that por- tion of an ad in which a typographical error occurs upon prompt notification. Paper Money • March/April 2007 • Whole No. 248 81 Paper Money Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XLVI, No. 2 Whole No. 248 MARCH/APRIL 2007 ISSN 0031-1162 FRED L. REED Ill, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org FEATURES Banknote Vignettes of Felix Octavius Carr Darley • 83 By Terry Bryan Female Beauty as Depicted on U.S. Obsoletes 122 By Clifford F. Thies, PhD SPMC member and economic historian Thies examines the dual purpose of female adornment on early bank notes. He finds these figures were also meant to distract the note passer's examination of whether a note was genuine or fraudulent. On This Date in Paper Money History 127, 129 By Fred Reed Trial Listing of Raised, Altered & Counterfeit Notes • 134 By J. Roy Pennell Jr. Notes on Bank Note Engravers & Artist Attributions 144 By Mark D. Tomasko Origins of Bank Note Vignettes: The Young Angler 155 By Walter D. Allan, FCNRS SOCIETY NEWS Information & Officers 82 President's Column 139 By Benny Bolin New Members 142 Nominations Due for SPMC Board 159 CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items Auction Representation 60-Page Catalog for $5.00 UG S - ULL P.O. Box 2522, Lexington, SC 29071 (803) 996-3660 FAX: (803) 996-4885 ANA–LM SCNA PCDA CHARTER MBRPH: SPMC LM 6 BRNA FUN 82 March/April • Whole No. 248 • Paper Money Society of Paper Money Collectors The Society of Paper Money Collec- tors (SPMC) 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 American Numismatic Asso- ciation. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC and its activities can be found on its Internet web site www.spmc.org . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preced- ed by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligi- ble to hold office or vote. DUES—Annual dues are $30. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership — payable in installments within one year is $600, $700 for Canada and Mexico, and $800 elsewhere. The Society has dispensed with issuing annual membership cards, but paid up members may obtain one from the Secretary for an SASE (self-addressed, stamped envelope). Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join as available. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in a fall issue of Paper Money. Checks should be sent to the Society Secretary. SOCIETY' OF PIPER MONEY COLLECTORS INC. , 412. OFFICERS ELECTED OFFICERS: PRESIDENT Benny Bolin, 5510 Bolin Rd., Allen, TX 75002 VICE-PRESIDENT Mark Anderson, 115 Congress St., Brooklyn, NY 11201 SECRETARY Bob Schreiner, POB 2331, Chapel Hill, NC 27515 TREASURER Bob Moon, 104 Chipping Court, Greenwood, SC 29649 BOARD OF GOVERNORS: Mark Anderson, 115 Congress St., Brooklyn, NY 11201 Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 Bob Cochran, P.O. Box 1085, Florissant, MO 63031 Wes Duran, P.O. Box 91, Twin Lakes, CO 81251-0091 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Robert J. Kravitz, P.O. Box 6099, Chesterfield, MO 63006 Tom Minerley, 25 Holland Ave #001, Albany, NY 12209-1735 Judith Murphy. P.O. Box 24056. Winston-Salem, NC 27114 Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515 Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 Jamie Yakes, P.O. Box 1203, Jackson, NJ 08527 APPOINTEES: PUBLISHER-EDITOR Fred L. Reed III, P.O. Box 793941, Dallas. TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 MEMBERSHIP DIRECTOR Frank Clark, P.O.Box 117060, Car- rollton, TX 75011-7060 PAST PRESIDENT Ron Horstman, 5010 Timber Ln., Gerald, MO 63037 WISMER BOOK PROJECT COORDINATOR Bob Cochran. P.O. Box 1085, Florissant, MO 63031 REGIONAL MEETING COORDINATOR Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 BUYING AND SELLING Paper Money • March/April 2007 • Whole No. 248 83 Art & Commerce Intersect: The Bank Note Vignettes of Felix ctavius Carr Dailey By Terry A. Bryan Closeup of Fr587 back depicting "The Landing of the Pilgrims," credited to a painting by F.O.C. Darley.I N TODAY'S WORLD PICTURES ARE EVERYWHERE. THIS was not true in the early 19th Century. When reproducing pictures was expensive, they were found only on the walls in homes of the wealthy. As cheaper methods of reproduction were found, interior decoration began to include framed prints. American artists gained an additional source of income from reproduction of their works. One illustrator, Felix Octavius Carr Darley, became so popular that bank note engravers secured his expensive designs for their currency vignettes. Social changes brought about by the Industrial Revolution includ- ed increased literacy, increased leisure time, and increased numbers who appreciated books and pictures. In fact, the public thirst for images even required novels to be illustrated. Earlier in England, then in the United States, a long tradition of book illustration con- tinued throughout the 1800's. This artistic heritage continues today, with many branches into fine arts and commercial illustra- tion, and with much collector interest. Felix Octavius Carr Darley (1822 1 -1888) is a name associat- ed with 19th Century book illustration and with many bank note vignettes. Darley brought unique skills to his work, which resulted in popularity and success. At the height of his fame, some books were lettered on the spine with the title and "Illustrated by Darley" omitting the author's name. He derived a fine income from his book illustrations, from portfolios of prints suitable for framing, and from vignette designs for bank notes. Darley was born in Philadelphia. His parents were stage performers, both artistic vocalists. The Darleys were popular enough that their perfor- mance of some songs was credited on sheet music. They traveled to the major theatre hubs, and their circle included artists and intellectuals. Darley and his siblings were exposed to a cultured, sociable household, and their talent and interest in the arts continued into their adult lives. As a child, Darley was evi- dently a compulsive sketcher; he later described it as a "disease." Young Felix F.O.C. Darley from Harper's Weekly, 1867. (New York Public Library) A31I/DRICAN Alia` ICY AO/V.—The aubseriber him been appointed Honorary decrotary to title popu- lar lnicltution, and is now prepared to eclair° the muted of members mad others. 'For the sum of is, each person Is entitled to receive n. copy of a Mao line en- graai.l.rnAy dneylle, and a sot of Outlines, sic in camber. by Das e illwaretiog Washington ireing'• much...aired tai p Kan wises. In audition to thole advantages etorh nubectibor bee the chance of receleleg,e1 the 0.5.051 Dietribehott, ape of the splendid FoistUngs now exhibited at the Art Union Gallery, 407 Broadway,bew York. bloc, than ere hundred Fainuaga have elretely bees purchased, Including the magnificent Allegodue earles of four pictures W by tho lemntod Thur. Cole Fur the - late Samuel ard, Esq., called e "The Voyage of Lire,. and widths., %Ad. Tame paintings will to distributed as ono pT i.. The collection also Contains the works of /Antra, Bunt Ington, Dooley, Grey, Edmonds, May, Osgood, Peals and Doughty, end other Ondleculalted acts.. Early subtenlitlans are invited, es lt is expected rho books will he chased before Rs termination of the -oar. w. Catenary Secretory American Art Union, jrOO ]m 144 Fulton street, Brooklyn. Brooklyn Daily Eagle 7/1/1848 Aar LI orox.—A. proof of the engraving to be distributed to the subscribe!, may be seen at Mr. Crowell's office No. sa Fulton street. We learn that 'there are nearly ten thousand subscribers, nut, previous to the drawing, molly more will un- doubtedly become competitors for the splendid tracks of art. Their arc several valuable painting;; among others eve notice Mr. Oray's two paintings of the" Wages of Woe" arid the " Apple of his cord, valued at 82,000. Another, the "Woman nt the Sepulchre," by Huntington, held at 81,200, and several others ranging as high ns $500 and WO. There is sarong the collection twenty bronze stall., of excellence end merit. The OUTLINES, by LfiLLa illustrating the Legend of Sleepy Hollow," after the fashion of " Rip Fen Winkle," of lolt year, which each subscriber will, receive. The works of not now exhibiting in the galleries ere to be distributed by lot among the members of the American Art Union, a t Naito's, on Friday evening, the Mat inst. Brooklyn Daily Eagle 12/14/1849 March/April • Whole No. 248 • Paper Money Ali! CRUEL MAID 84 SUNG BY 1\11E. & in FORTY AIRS the THIEVES ARLEY----'77."N,.. COMPOSED BY M.KELLY. .WYORK Printed & Sold at J.REWITT ls Musical Repository & Library N959 Maiden Lane OW 1 ' .11111111111111111 1111Mrlir it Min {lirl iiirAMOVII ION& Ma rifigi e=101V. Anlijell=a1411110111' Mireladarlail 11111142.11 .--- — —L... 8 Ir. maim — — -- UK— ----.- IIMISHIVILAVIOr MIN *MI IINIAlivirnaill. IX ....---111111---.111=--.-.1111111--- ---111--- ----WI ..,...-- norsommovammagormIN --.---111111.V /a% wiesemeammourimormr alhas i mos•low.im wpw•-•••••■-mararrommi Andantino w".■.1min.„----ms ----am....fie--- --_-_-@ r:_____01 LP ini•CIIIIMIVIIIIINIMUINIMIIIIVINSIMMINIMIIIIMOVIIMBgAtz a.a,sm illaprilialm: g rj .01. .... BIM AV AW AM, AV Allf ar NNW MIMI 11111111111111111111111=11111111111111111 Darley's parents were popular enough that their performance of some songs was credited on sheet music. (Collection of the author) was familiar with the British and German traditions of book illustration, and his self-taught style reflects his exposure to late-18th Century books. He was fascinated by the interesting faces that he observed on Philadelphia streets. His portfolio of caricatures resulted in a book commission when he was a teenager. Darley did not isolate himself in the artist's studio. Reproduction of pic- tures was limited to engraving and to lithography before photography became commonplace. By 1855, most picture printing involved photography as some part of the process. Reproductions of pictures were black and white images. Color was hand-applied or added by means of additional printing plates applied sequentially. Darley started illustrating books, portraying dramatic scenes and eccentric characters. His technique was based on strong drawing skills. Once he was earning his living through book commissions, he became versed in the technical methods of engraving and lithography. Many of his popular book illustrations were re-worked into "large plate" formats; these portfolio collec- tions are analogous to today's "coffee table books." Darley supervised the engraving and printing of his work, where many artists of his day were at the mercy of the craftsmen to produce a satisfactory reproduction. Not many artists knew about the technical problems of engrav- ing their work. Darley's grasp of all the art and of all the craft aspects of mass reproduction allowed him to create pictures that were ideal for the contempo- rary printing methods. He could sketch quickly in charcoal or pencil, outlining the composition and placement of figures. His finished product was often a pencil-and-ink outline, shaded in with dilute black or sepia ink. He knew how to indicate shading to facilitate the engraver's transfer of the drawing to the plate. In other words, he delivered his work "camera-ready." Book illustration may be a lost art in today's multi-media world. Nowadays, pictures move. Authors are hoping to create a picture in our minds with their words, and I suspect that many of today's writers would be offended at efforts to amplify their thoughts with visual art scattered through their books. The quaint novels of the 19th Century are not popular fiction anymore. Only the masterpieces of that day are read in high school and college; some are still read for leisure, and a few are made into movies. However, Darley's rise in popularity coincided with a new public demand for books, and illustrated hooks were considered a premium quality product in the publishing world. Along with drawing skill, Darley had a special mastery of composition. He could translate an episode in a book into a dramatic, emotional picture to accompany The Atitenneurn, which seems to make a point of saying unkind tiiinga of American produc- tions, has deviated from Its usual coarse, and has devoted four columns to a very laudatory and analytical critique upon Mr. Barley's rc cently published series of thirty etchings, illus- trative of Mr. Judd's "Margaret." It con- cludes by earnestly recommending Mr. Darter to p•epthe illustrations, of a like chariiii4Ti, of Ilawthorne's "Scarlet Letter." George Augustus Sala, whose writing he Bout& hold Word, are so generally accredited to Dickens by the rending public, bee comma need a new se- rial story, with wood-cat illustratione in the litierteed Times, a low priced rind not very well got up London weekly. It is called The Bad- dington Peerage, with his Lordship's Life : A Story of the Best and Worst Society." Wra. R. Russell of the London 7Y17161 was asked by the proprietors to go to China as special cor- respondent, but was compelled to decline, as he wits previously engaged to lecture during the nest twelve months in the leading cities of Great Britain and Ireland on the Crimean War. Brooklyn Daily Eagle 4/27/1858 Paper Money • March/April 2007 • Whole No. 248 85 the text. His work was so valued by publishers, that his illustrations were con- sidered an important marketing factor. Darley numbered many of the country's intellectuals among his acquain- tances. For half his life, he resided in a lovely home in Claymont, Delaware, just a few yards from the Pennsylvania border. 2 He hosted and visited many artists and thinkers, and he maintained a large household with his extended family. His salon was home to discussion of the issues of the day, the arts, and philosophy. Mr. Darley himself was described as rather shy with strangers, but voluble and interesting among friends. His acquaintance with the intelligencia no doubt aided his business affairs. He was the artist chosen to interpret scenes by many noted authors. Most famously, Charles Dickens insisted on Darley's work for his American editions. Dickens met with Darley during his book tours. F.O.C.Darley was inducted into the American Society of Illustrators' Hall Of Fame in 2001. In the dedication, the Society states, "More than any other single talent, F.O.C.Darley was responsible for the growth of illustration in early America." F.O.C. Darley's career coincided with the end of the Revolutionary War generation, with the move into the western limits of the Continent, with the Civil War, with the Indian Wars, and with the mighty industrial growth of the United States. Looking at 19th Century art and prints, the public's taste in pictures appears excessively sentimental to us by today's standards. The sainted memory of George Washington, the intrepid frontiersman, the Noble Red Man, the apotheosis of the craftsman, the romance of the frontier, the lure of western gold, the plight of the poor, the gallantry of the Union cause, the pride in the growing power and credibility of the United States on the international scene...all of these were popular themes of books and pictures, and they were common themes to Darley.. His personal tastes ran in these same directions, too, for he was proud of his country. Darley illustrated many historical events, "An Indian Foray in the West" by F.O.C. Darley, Harper's Weekly, 5/1/1858. Interestingly his image was republished 25 years later in the Harper's Weekly issue of 5/10/1873. (Library of Congress) 1111E LATEST AND GE15ATIC3'1 ASAOURCD11Xii ! 6.1f0AOCRENT OF FiiLIK D.A.BLRY ith 7U1 NEW YOTill MERCURY. The t116 OW YORK at/RS:11R, rondo a jstu prPS:V1 or ide'f 1lasure in an menacg th nausemnal o the war 0-thaawined And Inuallatilo mail in er of e the g humorous f nal graphic ad, FELIX 0. C. CARLEY, with rill Vereafter or /jay hi, magic usual in flthilreilng ths 1 .1801. CLASS SUCELICITUAL by. (1th heat wilier. la A melia.. winclii..141-.1t,si,ithm s,tieacits,vacth thof Ice Thu engsioncal 01 Mr. Ithreg, which wasonlyaccomplOM &ter much argent edict alien, &en the off, o( ine moss dies. nnancemants, will sams.T11. Med 'CRY with AR A/011n116 PE SFECIION the 1' C CORI 1. DIS. FL AY, wathe nA.NNO1 BR Eiij TALLER SY ANY OTRiill PA FCII. and 4.11 prove the (min.& anon( war est. MIAMI. 1.1 onoth &U camprt ithic i and canto 1* 6NKW YoRsi lieiRC CRY A VOL/FL CI° AXCELLENC sa • JontnAl of A me.ican Literature and Al E i. Rs Carley bag engaged it deaden raolaateely for Tad m6RetritY end POS. NO 001168 WECK1.1. and, Cure:nth no COP 13100/141 sheet can hive to aindosels 1/18. NI, * 4006 MEV (JAY in the tiossoy sad bydidscry at 'r's'ffia4((:̀ ?r17,11'IlLu'ilitlt, pencil will Inappear TALE Iillw aull0 Mtallecla (lased void -nary 10, 18'4, ia L lam ma aplarteld renames, of the rel, by NNV hU thid eathled 1..CAWALF; oil, TUC T0ekt4R OF Ill& COAST A 0.0* oc PYlr.en.RIA4 L1 li78. 11110 Brooklyn Daily Eagle 2/2/1859 "The War Trail" and "The Buffalo Hunt" by F.O.C. Darley, Harper's Weekly, 5/1/1858. (Library of Congress) March/April • Whole No. 248 • Paper Money in addition to his compositions based on fiction. Toward the end of his life, he estimated that his drawing "disease" had resulted in several thousand pictures. Darley made a trip west and two tours of Europe, and he studied color work sporadically. Occasional watercolors show up on the market. While expertly done, they are not considered masterworks of their type. The vast majority of his work was clone in pencil, charcoal, pen and ink. Many of his sketches in pencil on drawing paper still exist in collections. His finished com- positions were often done in ink with a sepia ink wash on heavier paper. Not so many of his finished vignette pictures remain. Apparently, the engravers did not need them, once the durable plates were made. His palette was largely black and white, and he was a master of the economy of line, i.e. letting a few lines provide the brain with a whole picture. Paper money collectors are familiar with the history of security printing. From the 1790s to the 1860s, local banks issued almost all of the circulating paper currency that supported the growing economy of the country. Regulatory changes in the 1850s allowed public stock companies to flourish in much the same form as today. Pieces of paper with monetary value became commonplace in the hands of the general public. The security of this paper was a great concern, and counterfeiting was widespread. As today, when a security measure is instituted, the crooks immediately consider how to overcome it. A glance at paper money and stocks in the first half of the 19th Century demonstrates the growth and maturity of the security printing indus- try. These documents evolved away from simple engraved wording. Vignettes, portraits, color printing, and machine engraving were added. It was hoped that the complex designs would foil counterfeiters. Engraving compa- nies competed to provide bank and corporate customers with the finest products. It can be argued that the engraver's art attained its high point in the 1860s. In addition to security considera- tions, the buyers of the engravers' products, i.e. the Board of Directors, had their own aesthetic considerations. Local bankers wanted their currency to look beautiful and substantial. They might want designs that no other banker had used before. They might want designs that typified local com- merce. They might want custom images. The engraving companies needed a constant supply of new images to offer to their customers. Many of the images stockpiled by the engravers were designed by in-house artists. Asher Durand is perhaps the most recognized master painter who was also a principal of an engraving company. Engravers also used designs from other sources. Famous paintings were delin- eated for the print media; book illustrations were copied for vignettes. 86 Paper Money • March/April 2007 • Whole No. 248 87 Residence of F.O.C. Darley, Artist, at Claymont, Delaware. Commissioned "out-sourcing" of artwork was not typical; oftentimes the engravers did not pay a fee for the privilege of copying a picture. By the early 1850s, Darley had attained such popularity, that his work was in demand by engravers. When picking out their currency designs from sam- ple books, bankers were sure to be impressed with images contributed by the famous artist: • Felix Darley was attuned to the public taste of his day; • he had personal knowledge of the publishing and printing industry; • his work was popular and distributed widely; • he knew the technical aspects of printing; • his work featured strong, articulate lines; and • he could compose dramatic and evocative pictures. All of these factors brought Darley to the attention of the security printing industry. From 1853 to 1879, Darley sent "designs" to bank note engravers. He was arguably the most prolific independent artist associated with these vignettes. TTIE SCENES OF ELFRIDA, TUE RED uovvesDAVGIITEI:. are laid both on AND LAND, and the Proprietors of the NEW•TORIC MEN_ CURT anticipate Dr it a popularity never hereof., aarieeed Story of Idetropearin life ' , Withal In Ode enontrin THE ILLUSTRATIONS BY VARLET wilt etenos in oilhir coon the minds of all tr ho read the tale its mot Lulling hullo:no ; and the publishers feel towered that is triumph of LITERARY BENI U .& col- leen:shed with faro DEMO OF PICTORIAL ART, 'ELFIN DA TI1E RED ROVER'S DAUGUTEG," be the CREAT EVENT OF TEE YEAR In the depart- went of literature 141%111(11 re Wong, ELFRIDA RED ROVER'S BANG IITF.R, in componton to the "MI aeries and V iferiet of New-York," by NED BUNT- LINE, Is now ready in the NENV-VORK NERCO In* for January 7, 1(1). TI1F.IIELDINIT in the largest, cheep- 127t nod bait( the family papers. Order your newspaper carrier to tare Br-venially at your bow. Brooklyn Daily Eagle 12/29/1859 BY BEPTIMIY8 R. URBAN ILLI1STRATIONS BY IMALEac.,. PRICE N OMITS. Tho anadainccilIority of air. t/W. 1s Mork. V, thettto socornsfulls sonatoothe waiter,' of denoneseant to We Dar 1411t41114 it 110 adroitly onto beetle the conlocturce of anon determined seta renders, who aro fatal= with the many- onions o f gem., plots: and, though there in • cortan de- aren rit resters in his plebs, there never In the elightwt WALLED OW l'ObT.101£ ON $1.1:1, Or rams. FftEDERIO A. MILADY. Puhadter. No td Ann etrect, N. V. Brooklyn Daily Eagle 5/4/1864 Thirty-one American artists will exhibit works at the Porte Exposition. Ina palate:el en: linker, Besot Manta% Iltualata, CostIcer, Church, Dae- woo, Crupary, DO, Durand, Elliott, Oilthrd, Mignon Motand, Richards, Weir, White, and Whittredue, The de- nlearsare: 1410v4 Downers, aid Lanes.11110 ocular,. arn: Matilda. °ley, Harriet E. Dosmor, Rogan , Thotopoon, Volk, and Word. the engwvers ate: American lank Note Cowpony, Isiornball, Nutloonl Bank Note Compeny, and Navas, Brooklyn Daily Eagle 4/5/1867 A prosperous Darley with his fashion- able hat. (New York Public Library) Several generations of collectors have studied bank note (and stock certificate) vignettes. Desired data includes the source of the original picture, the engraver(s), the engraving company, and the end uses of the vignette on documents. Collections have included examples of the vignette sketches, camera-ready artwork, engravings in stages of completion, printed proofs, engraved metal plates, and finished docu- ments. The present series of American Bank Note Company archives sales will provide the vignette collectors with a huge volume of material to study. Darley's contributions to bank note art have been written about in a number of books and articles (see sources). Thomas F. Morris, j r. (Essay-Proof .7011177a1 69, Winter 1961) claimed a collection of 80 different Darley vignettes without a list. Reviewing the several references to Among the numerous issues of Dickens's works, Third and lloughlon's Globe Edition claims a prominent place by the accuracy of its text, the neatness or its typography and the cleverness of its illustrations by Dais/. and Gilbert. "Old Curiosity Shop" an the first part of the "Skctchtin" have just boon published in a single volume. Brooklyn Daily Eagle 6/11/1867 The publication of the "Globe Edition" o the works of Charte.s Dickens—New York Hurd and lloughton—is nearly complete. The latest issues are " Bleak House," " Lit- tle Don't," "Christians Carol," "Chimes," "Cricket on the Hearth," "Battle of Life," "haunted Man," "Christmas Tree," " Pia tures from Italy," and "American Notes.' The illustrations, as those at the other vol- umes, are by Litkaand Gilbert, and the books are characterized by the uniform excellence of the series. Brooklyn Daily Eagle 11/16/1867 it D ICKENS'S WORKS. DICKENS:II WORKS. rapp.k.,1 17101181: DIO Roe's WORKS. VIM:2 `RPM: FRE: . '211tIA: gigitF4 wc, IN 11124'4 14.(1511r.4 . T KR R 01,01111 PT! N tat ItCughlf31: it gf.g..f,".11.198°E'n . ?RE OLDER MIME 'roll OLDRIC EDITION ILLUSTRATED HY katj= a OILIS lb telt. en. THE RIOT OILEAY EDITION. THE RIVERSIDE. EDITION. IVY `ODE .1110100 . ELOTto DE EDITION. EDIT TOO RlVOICO ION. IOR EDITION. 88 March/April • Whole No. 248 • Paper Money Hans Christian Anderson makes his Brat appearance in the November Riicr.rida with two storise : Greenieo" and "Petier, Pe- ter and Peer." The frontispiece of the sum- her is o drawing by F. 0. C. 12.takx of quills and Warnba, in Scott's "Ivanh-cieDarley also contributes "Pictures from Switzerland,' with five illnetrations by himself. "Ono Day" is a Fonrth of July skotoh by Helen O. Wooks and has two illustrations. Tho other illustrations are of "The Brahmin Cahla-Sarnia and the Craw-fish," "Bunter and Tom,' and "Patoh- work." A brilliant Christmas number is prom- ised and an improved volume for nest year. Brooklyn Daily Eagle 10/27/1868 NEW PUBLICATIONS The frontispiece of the Metal* is by P. 0. C. Raga Its cabled is no incident in William lien, story. "The Life and Adventures of .1,ok of the NHL" of shirk Orme is a dexeription in the text of the magazine. The 05001011story of the number, 'Too Candice." is by Bans Christian Andereen, and there are others by Stockton, Benjamin, Lucretia P. lisle, start ht N. MM., Bayer:, red Rebecca Warding Dark, be- shwa a liberal supply of I he reading and pictorial matter which bee made the aucceas of the Riverside. Brooklyn Daily Eagle 6/24/1870 II. TILE PIONRERSI OR, VIE BOUNCES Oh' Tile 8USQUIELIANNA DESCRIPTIVtITALE. By Jamas Neal:ewe Cooper. With Eight New Illustrations by N. 0. 0. ,N404, ruin., Paper cover., price 75 cents; cloth. • the fourth volume of the new Illustrated Rditien of Coop' eel Novels. lierotolare thine bee been no edition of DOB scknowl. edged hunt of the American romeneista suitable for gen• twat popular circulation, and hence the now Inane of those famous novels will be welcomed by Ito gemerstIon of read. era that havesprune uPsumo Cooper departed Dont uslAe thee program., the charmter, goal., rod valor of the Cooper romance. become morn widely recognized: Ile II now aocepted as rho great clasalc of our American literw tare, and Ms books es the prose epics of our coyly Mr. tea Brooklyn Daily Eagle 10/21/1872 TILE "MA111511. ilTDONINC" TALCS. By dance Cantheenc,CoorTa. I volume, doe. With forty illuattations by F. 0. O. Corley. Cloth. wilt. Price, 54. Tim se-called "L”ther Stocking Trios," by C. Lion!core Cooper, aTuptIolog "The Vrorataler." bo IAst of the atehicans."" I he Pathfinder," "The Knws," end 0 rt., Pratt IN" ..e11 steer folly and beau , itchy illootraiwi by 1. V. te 0. Ogylity, msw7rdld t are hero gxthered tal n ld en y vo gt,I. bo lume, ok. hoe iwnse -ly .ortb it D. APPLETON & DM. Pnbiithers, NOS. Se AND al BROADWAY, NEW PON E. Brooklyn Daily Eagle 12/14/1872 Brooklyn Daily Eagle 12/21/1872 ny J 4 )t?Ertl lit It1i.11; E. INHEN Freelioni from her lie qintaiii Unfurled bel mtawliiril t he air, Sim tan the ttzure robe of night. A ell tit'( the stars of glory t here. She mingled with its gorgeous tls ts The milky bilblrie of the Alta striped its pure celestial white With streakings of the morning: light ; Then ("rum Ids mansion in the slut She calk", it t rer d OW11, "The American Flag" by Joseph Rodman Drake, New York: James G. Gregory, 1861, illustrat- ed by F.O.C. Darley. (University of Michigan) Darley's bank note vignettes, the sources for many of the attributions remain indefinite. The American Bank Note Company sold subscription series of commemorative proof vignettes starting in the late 1970s. A number of the vignettes reproduced therein from the original plates are credited to Darley. It is assumed that the ABNCo. had business records of the transactions with the artist, or had some other way to attribute the original picture to Darley. Attributing a vignette design to a particular artist adds an interesting "back story" to a bank note. Connecting the vignette to the designer in this way is presumed to be possible through the following evidence: (each heading's comments are in order in paragraphs below) • Signed original artwork for known vignettes • Signed engraved plates • Signed proof vignettes • Banknote company written records • Stylistic comparison of vignettes • Pictures adapted from other media • Artist's records of commissions Some of Darley's sketches meant for banknote vignettes are known. His "A Visit From St. Nicholas" (Durand Santa Claus vignette type IV) has been used to illustrate past articles. There are some Darley finished design paintings extant. A few plates and vignette plate proofs are titled under Darley's byline. COOPER'S NOVELS, NEW EDITION IN 31 VOLU31I13 COMPLETE MAKING A DESIRABLE HOLIDAY GDR'. Price In oloth. EMI; or Sn bell oall, 5110. COOPER'S LEATURH STOCKING TALES. Mu/Breton with 40 &elan, br P. O. C. PAWL. ',rico In clonz. el: alhecp.ee; half mmo ,°°, 0330' COOPERD SEA TALEE. IDnxtrAted with 401/Instratton. by F. 0. 0. Der/e/ Price in cloth, el : .hoof, Irk halt rnor poc0, 04 .60. D. APPLP.TO N A CO.. PublIehare. Nos. MP lod MI Erna/ war. Brooklyn Daily Eagle 12/12/1873 Paper Money • March/April 2007 • Whole No. 248 89 Darley's name has been associated with quite a number of vignettes in articles and reference books. Most of the time, there is no mention of the source of the information. Undoubtedly, much of the written record of bank note company transactions with the artist has been lost. Many of the leading companies merged into the American Bank Note Company in 1858. Because of the ABNCo's ongoing concern with security and copyright of its designs, Company archives have not been made generally available to researchers. As mentioned above, ABNCo souvenir materials attribute some vignettes to Darley, allowing the presumption that a record exists in some form. After viewing many vignettes and Darley book illustrations, it is possible to gain a sense of the characteristics of his work. Darley composed dramatic pictures. He placed his figures in active postures. He often placed a strong diagonal element in the work to aid in drawing the viewer's eye around the pic- ture. This, apparently, is evidence of his observation of classical English illus- trations. Darley did not do portraits. He did not draw lifeless personifications. He did not portray the boats and trains so common to banknote vignette land- scapes. He followed public taste in idealization of the farmer, the patriot, the craftsman, the Native American, the heroic episodes and figures in American history. His vignettes are dramatic and lifelike. Some bank note vignettes may have been attributed to Darley based on style. He was so popular, that other "Barnyard Watercolor," by F.O.C. Darley. (Photo from auction catalog) SOMERVILE ART GALLERY, NO. E.2 rim AV. N. Y. Mr. SOMERVILLE teloos plearmo In calling &Wier:Ian tattle very Inmattant collection or ranting% new ea calif- Hon nt bin gotten . ARTISTS REPRESENTED: R. LAIIIIINET, J. F. RENSETT, A. ORASSOT, MIGNOT, ItIMAINGTON, T. NAST, W. HART. BRBOECRILOVEN. STANFIELD, G. IL BOUGHTON, t. JOHNSTON, SIUNIRE, DOLPH, TIFFANY, SONATA:0, D.91.Ev, VICTOR NEW° J, V. ltIUM, 90 March/April • Whole No. 248 • Paper Money WATER DOLOR DRAWINGS. At the new end ep•olons FINE ART BOOMS on W.M. H. FANNING A CO.. AN Fulton et. 011 TIIIVELADIN end FRIDAY EVENINGS, -Jove nth and tab. at II P.M. Vie nude:Coed bog laavo Lin ll the attention of the limekiln nubile to Mb, theea collection of letgli clans writer Color Dr AW111,01 over offered II nro at sad Ion, or:Iterating tine specimen. of tho fol coring artlatv of world wide ropntatIon: Shreyer, Stanfield, alarksan, Dunn Lets. Detallle. H. G. Hive, Lewd, Fiche!, ICIIITIVi. ChfCeiTote re r,t Roorboth•en, RkInner Enna. Clionnors, TL7:/=11... rd,-?.. U. Darla Tearer, Deerint, Rico, Hannon, lisokalowlm. Agraadot, Taper% La Roy, WIIII“mp, De Langpre, Gland, J. II. I:lardy, W. CI raiz, J.. artino. AnErny, T. C. Garret., fludY, flea'n, °wadi. Brooklyn Daily Eagle 6/25/1874 Brooklyn Daily Eagle 5/12/1875 COOPER'S NOVELS. gykm Edition. With ell the Original Ifinntratione on Real 'd Wont drawn by Y. 0. O. Doan-. Phut oa ort 4,.‘o hoed taro• Kilt top, Anent, cloth, price $12.(K1 per net, hell cell or Meroceit.Slil.00. Pcoolc'e Edition. Wan Sixty-four Engraring• on Steel. tram Drawing. by F. U. C. DAllt.V.V. Complete in s.steen volunine. Prien, for the compliwo rot, In cloth, $20.01: bolt calf or half in..rroco,$43.1.0 Brooklyn Daily Eagle 12/19/1885 THE C0:0101.0L11411 A1lAZI1L. Losadost's rineet ttocrca ttvo 11.051 1:1111C4 ti VP 4.:barfly Pcscribod. To,. innliary Co•mmdattnn., J. B11411,..11 WtIker. New Yeti:. mattes a ore.“ photogredure and rPOorno .how in trWitiSPICCIP awl el tfort f rt., Mrs. Cur. Itemsols.erCruger'd111,1n0Y1)1.")Iptkaloj..11, itcsodo." tr Leguu as it, wall grtst ethset of ap• MA•tery and Slim DidlAttil described nrr divit to the ',under of melerit philanthropic arc and indu,trial training. the Peoplo'n palate in Lvadon, which it ndunrably illudtesta l erehitne. turallyaud with a thin pvrtait of Walteellooant. !rein whoo, philentlimnie lietiou it -orietnaled. There is • twdrdineweid wiper of 111111.0.131 intermit by rho t fine dltoughtdmrin and at bat of the !net generntmii, 0. C. I , ! Illi.trated by htin•elf In 'try .aNins carkaleles; siao a, story. "Dun 2. a Becket, which it ale.. trated in a new way..orne SHWA of RON }Willi: Brooklyn Daily Eagle 1/8/1891 Cooper's Works. With parley plates. Bound In half calf. 3::f volumes. Reduced from $06 to $00. Dickens's Works. English Library Edition. Illustra- tions by Crulksbaok. 'Chit," Darle . 30 volumes. Bound In halt p s MOTOGCO. Reduced from $100 to $60. Brooklyn Daily Eagle 1/5/1898 Painting of a Cooper by F.O.C. Darley. (Ray & Judith Hester collection) illustrators emulated his work. It may be impossible to attribute many pictures solely by style, since he was so influential. A visitor to Stockbridge, MA will see the Norman Rockwell studio. Rockwell kept props and costumes handy. He recruited local villagers to dress up and pose for his illustrations. He was fascinated by their faces, and by their postures. He knew how clothes hung on their bodies. Some of his props recur in his work. In fact, all of these comments apply to Darley, too. He would dress and pose his neighbors in the studio, and cer- tain hats and helmets and tools are seen in multiple images. He would walk the fields and farms near his home, and some Claymont buildings have been identified in the background of pictures. One of Dailey's favorite dogs appears repeatedly, such as in the illustration at left. 91Paper Money • March/April 2007 • Whole No. 248 •.rta E 5 FIVES FIVE 5 FIVES FIVF 5 F S FIVE 5 FIVE 5 FIVE 5 FIVE b FIVE,FIVE &FIVE 3 FIVE " FIVE ak.kalrE F 5 FEW 5 E The Mill Door, Sailors Pulling On A Line, and Feeding a Horse are likely from Darley designs for Toppan, Carpenter. Washington in Camp on this 1865 Delaware ABNCo proof is Darley's style. Vignette was used on bond 119 years later, see p. 96. Both vignettes on this ABNCo Boston bank note are attributed to Darley artwork. NA .' 31, yoptilar comic song VDU 6 AS SUNG ISY HIM innuenSe Success A T • 01.111, .'"Ael0e4W 92 March/April • Whole No. 248 • Paper Money A reproduction of a Darley Plains Indian appears at upper right in this currency montage on the cover of sheet music for Dan Bryant's "How Are You Green-Backs" published in 1863. (Collection of the author) ABNCo produced this plate for the Hingham, MA Bank's $20 and $50 notes. It contains Darley's White Bear, Saying Goodbye, and The Farmer & His Dog vignettes. (Image reversed, origi- nal cancelled printing plate in collec- tion of the author) Stylistic identification of a picture retains some uncertainty. The Landing Of The Pilgrims vignette used on National Currency notes and stamps ($1notes Fr 380-386, 55 notes Fr 587-612, 781-809, 832-891, 20 stamp Scott 549) cer- tainly "looks" like Darley's work. The dramatic poses, clothing details, gnarled driftwood, all point to Darley. This vignette is identified as Darley's in refer- ence books (based on style?), including Gene Hessler's The Engraver's Line, but no confirming citation was provided by one author later questioned about it. A Bureau of Engraving and Printing (BEP) Souvenir Card identifies the engraver as G.F.C. Smillie. The Friedberg reference and an anonymous Coin World arti- cle credit the engraving to Charles Burt. In a Coin World article, Glenn Smedley referred to the BEP history description of Elisha Hobart engraving the painting by [Henry] Sargent (1770- 1845). He implies by this that the Sargent painting is the original source of the vignette. Mr. Smedley points out that the Federal notes use two slightly different ver- sions of the picture, so two engravers could have been involved. While Hobart certainly did engraving, the famous Sargent painting (easily viewed on the Internet) is nothing like the vignette. Darley did two Landing Of The Pilgrims designs for Toppan, Carpenter in the 1850s. Either or both of these origi- nals could have made their way to Federal currency through the ABNCo's contract to print early U.S.Currency. Conclusions? The Smillie-Burt-Hobart question is unan- swered. The Pilgrim picture is most likely Darley's work, or the work of an artist much influenced by Darley's style. Felix Darley was a prolific book illus- trator. Some of his published pictures were 17/)// BANK TENNESSEg jY9 '(//1fei 1c(i iii(tri/,, . I :ft 1i-7-444 Li _I ,C tfat;laer 14=1E1=2"- Cash!' AarsecentruasumisAtr,,r.r.3,-.MiyaianztainisarEriniAu.rox,-A-owox....wvEloinsilitillenignmax_ • BANK OF DELAWARE 7/-,/ ry- 5). ».3977 . 1 /7, 77/r74f,f, 1. ' .14...!■74.10,r, - -1 7/ Af t://, ii:OiLecipaggismaciaarmiosEraWae This Seaford, Delaware bank never opened, but it commissioned ABNCo plates with Darley's Ship Carpenter featured. Paper Money • March/April 2007 • Whole No. 248 93 The famous White Bear vignette seems an odd choice for a Nashville banknote, seen here on a modern ABNCo proof. Feeding the Pigs was one of Darley's earliest vignettes for Toppan, Carpenter & Casilear. The bank was only a few miles from his home. 94 March/April • Whole No. 248 • Paper Money Plowman with Horse and Colt is a pen- cil sketch by Darley reportedly for Toppan, Carpenter. It is unknown if a finished painting or vignette ever resulted from it. (collection of the author) Below: Versions of Darley's Battle of Lexington paintings were used on National Currency (near right) and in encyclope- dic U.S. history books (far right). Darley at the heighth of his career posed for New York photographer C.D. Fredericks. (New York Public Library) very likely adapted to engraved matter in an unauthorized manner. Some of his bank note vignette designs were certainly pirated by lithographers. The author has college currency and sheet music with lithographic vignettes taken from previously used bank note work. One would have to scan all of Darley's published illustrations in the attempt to spot pictures that had been adapted for bank notes. Darley himself re-worked compositions for publication in different forms. His Battle Of Lexington pictures were published in history books and used for National Currency (see Fr 493-506; note: Lexington is credited to Darley by Hssler, Huntoon, Durand, two Essay-Proof articles, and is similar in style to his book illustrations, such as the one illustrated above). Mrs. Jane Darley outlived her husband by 30 years. During that time, she was generous to distribute mementos of the artist among their large circle of friends. The New York Public Library (NYPL) became a major repository of family material. Darley's drawing board and studio props are still around, although the studio end of his home was destroyed in a fire. Northern Delaware has been the center of continued Darley interest, and there are some notable collections in the area. In the Schiek family collection, Darley's "day- book," a business ledger, resided for many years. Darley exhibits at the NYPL and at the Brandywine River Museum prompted the photocopy of this ledger, 95Paper Money • March/April 2007 • Whole No. 248 fill'' ,..V Itll IfILLY; /Oil wt.;-:,jt. /. I; ,e. lh, i h/ . //bvi inbvi..s. X/ N.A., .../ . ...valh.o ././h. /kWh, 4.4:7.47-...■ ..1127itov(h, ail"..,/ di ... , .) - r. 1. i infrAMPeozl:/1 la . S -Jiii z .19,//mx //mt him r',4 I. ‘,111111. E CURE 1 BY =' DEF -PUBLIC TO CRS ,P,5#01/1.1t TWO DO‘ \\ -,11 I) , /// 4112 'LW 4112 -rwo 2141144 1 • TW i wsvo zing " TWO 2 TWO 2 TWO .ter*ii) :eksi Cr:141*v fi'iiinzgrwo 211`Will 2 — DIDIA -.0 rs TWO 2 Two a '11411 '410) 2 TWO :(1rwo 2 TW6214' Darley was justly famous for illustrations of Native Americans, such as this hunting scene on a State Bank of Michigan remainder. The Jackknife vignette (probably used without permission) is the central vignette on a lithographed Philadelphia college currency note. Late-dated Delaware note uses Darley's Sailor at the Capstan, and a harvest scene that may be Darley's too. The dollar sign is unusual. March/April • Whole No. 248 • Paper Money96 Darley's Washington vignette on New Jersey Bell Telephone bond. Below: Darley's design on U.S. stamp, Scott 1548, 10/10/1974. Bottom: Detail from Fr 582b, "The Landing of the Pilgrims." Above: Pilgraim Tercentenary, Scott 549. Below: Detail from Fr 587. Note differences in the two engravings. ';DIAMOND STATE BANK 4V- , 7/////;77 ONE 11 OLLAR4 1/ 11 //n/ // Aft$11, v(i).1: i)1" ‘ 1)4,1 4 , 1 / ( // /7/ ///t//// - ,1,111A. ANK OF NEWARK.- /j . C as /41777/77/ /// TWO DOLLARS, /////////,-7. (///. 41W_Katilin - • 1-WO • TN••• 1 1.7i • F. • TIN • TNT Paper Money • March/April 2007 • Whole No. 248 97 Darley's dog appears in the Woodsman Warming His Hands vignette. Knarled branches and diagonal rifle barrel are earmarks of his work. Darley's The Horseshoer appears on this Toppan, Carpenter proof note. Delaware's Blue Hen, Wm. Penn and John Clayton also appear. Darley's Wheelwright is the central vignette on this Augusta (Georgia) Insurance & Banking Co. issue. J . p-;-, • ,_ A sample page from Darley's account book. (courtesy of the Schiek Collection) 98 March/April • Whole No. 248 • Paper Money but I found Darley's handwriting to be mostly illegible in the poor copies made available to me. It seemed that Darley's own record of bank note vignettes was previ- ously unpublished, and I made arrangements to view the original. In the account book, Darley kept a record of his art commis- sions for the years 1852-1879. With the kind permission of owner Miss Martha Schiek, I examined the book's contents for inclusion in this article. Of course, I was mostly interested in the list of engraving company work, and the list of companies and vignettes is presented in the order listed in Darley's ledger. KEY TO ATTRIBUTIONS: (A) ABNCo and other souvenir cards & publications (B) a Darley painting or book illustration exists (C) auction catalog attribution (D) Durand attribution (EP) Essay-Proof Journal article attribution (H) Hessler attribution (L) appears in Darley's ledger (0) appears in other sources (PH) Huntoon attribution (X) attribution based on style by author 1853 Toppan, Carpenter, Casilear & Co. (TCC&Co.), August. Design Man on Raft (all vignettes for TCC&Co. $60.00) Design Man Driving Sheep Design Boys Catching a Horse TCC&Co., October 11 Design Shearing Sheep TCC&Co., Oct. 26 Design Indian Fhinting Buffalos Design Pilgrims and Indians End Piece Farmer with Cows (all end pieces for TCC&Co. $40.00) TCC&Co., Nov. 1 Design Stonecutters Design Negro Husking Corn (L) Design Indian Battle End Piece Farmer Cutting Corn TCC&Co., Nov. 17 Design Woodcutters TCC&Co., Nov. 28 Design Barnyard TCC&Co., Dec.1 , y ,fq sint .1"1.,V1.0 ' 43714 4„,4,.;\ Design Cattle Market (L) Design Men & Boys Taking In Cows Design Blacksmith Shoeing Horse Design Farmer Feeding Pigs aoCity 111 •1111117111 Design Woodcutters (L) Design Girl Milking Cow Vignette Blacksmith (L) End Piece Blacksmith at Bellows Paper Money • March/April 2007 • Whole No. 248 99 1854 Toppan, Carpenter, Casilear and Co., January Design Boy Watering Horse End Piece Indian On Horseback TCC&Co., Feb. 2 Vignette Negro Grazing Horses Vignette Negro Driving Oxen l‘tial,;771 tohli r End Piece Negro Picking Cotton (L) TCC&Co., Feb. 27 Vignette Catching Horses (L) Vignette Sailors TCC&Co., March End Piece Carpenter End Piece Stonecutter End Piece Blacksmith (L) TCC&Co., March 16 Vignette Shoemaker (March 19: Two end pieces for Continental B. $80.00) TCC&Co., May 4 Vignette Landing of Pilgrims (L) (H) TCC&Co., May 8 Vignette Negro with Load of Cotton End Piece Negro Picking Cotton TCC&Co., October End Piece Girl Feeding Chickens (L) End Piece Sailor with Glass End Piece Sailor in Boat 100 March/April • Whole No. 248 • Paper Money End Piece Ship Carpenter (L) End Piece Farmer Feeding Horse (L) TCC&Co., Nov. 9 Vignette Arms of Pennsylvania TCC&Co., Nov. 14 Vignette for Manufacturers & Mechanics 1855 Toppan, Carpenter & Co. (TC&Co.), Feb. Design Landing of Pilgrims TC&Co., March Design Picking Hops Design Picking Hops [again] Design Ploughing Scene TC&Co., April Design Feeding Pigs Design Killing Pigs (L) [not popular, I presume] Design Three Engineers TC&Co., May End Piece Engineer TC&Co., May 16 Vignette Miners Vignette Miners Vignette Miners At Work (L) TC&Co., July 7 Vignette Puritans Signing The Agreement TC&Co., August Vignette Cows Standing in the Water Vignette Landing of Columbus Vignette Farmer on Horseback Filling His Pipe TC&Co., September Vignette Indians Attacking Bears TC&Co., August End Piece Farmer Shooting British from the Rocks TC&Co., Nov. 17 Vignette "The Landing of Wm. Penn" TC&Co., Nov 23 Vignette "The Landing of Wm. Penn" [again] TC&Co., Dec. 11 Vignette Puritans at Prayer Surprised by Indians TC&Co., Dec. 27 Vignette [Cur—at Work ?] Vignette Sailors Looking Through Glass TC&Co., December, 1855 Vignette Paul Jones Boarding A Ship (L) Weal I ..... -G $5 1S99 Silver C'ertiricate4..i.'m t r4278 !ochre I Burke rkelp wt., r.i.s,,n SIN MS8433449 pp A s 4" \ M58/.133409- M58433409:- —7 "t, stunociminsg.ricj.: Paper Money • March/April 2007 • Whole No. 248 101 TRUST YOUR TREASURES TO THE INDUSTRY'S Y? REF ERRED HOLDER Label Features Prominent display of cataloging information and grade Security features such as hologmm, bar code, and reiterated grade Generous area for graders' comments Preservation. Identification. Appreciation. Your notes deserve the best. That's why PMG developed this holder—combining the qualities that collectors value most. The PMG holder... ...Is made from the highest-quality, inert materials. It contains no openings or perforations—guarding against environmental hazards and contaminants. ...Features a large label that displays precise and specific information about your note, including a full attribution, pedigree, and graders' comments, as applicable. ...Accommodates a wide range of currency albums. Your notes take center stage with protective materials that maximize superior visibility. PMG's primary commitment is to provide accurate and consistent grading of paper money—to impart confidence and reliability. This also includes understanding what numismatists want from a holder. And that's why we are bringing a new standard of impartiality and integrity. To learn more about PMG, visit www.PMGnotes.com , or contact Glen Jorde, Grading Finalizer, at 877-PMG-5570. ,,G) Join the - community www.collectors-society.com 4IAPMG PAPER MONEY GUARANTY P.O. Box 4755 I Sarasota, FL 34230 I 877-PMG-5570 (764-5570) I www.PMGnotes.com An Independent Member of the Certified Collectibles Group tr..11-44„: T• .- 41 .0.1te. • 0,./4, STA( /' ell /41 Vignette Picking Corn (L) 102 March/April • Whole No. 248 • Paper Money Vignette Farmer and Boy Loading Hay 1857 End Piece Sailors Hauling On a Rope Toppan, Carpenter & Co., Feb.7 1856 Toppan, Carpenter & Co., February Vignette Boy Watering Horses (L) End Piece Chickens TC&Co., Feb. 10 Vignette Farmer & Mechanic (Wheelwright) (L) TC&Co., March Vignette Cow Stable Vignette Sailors Shooting Seals Vignette Surveying (L) Vignette Boy Watering Cows TC&Co., April 6 Vig. Girl and Men with Wheat, Negroes Husking in Background TC&Co., May Vignette Boy Ploughing Vignette Oxen Hauling Wood End Piece Girl Milking Cow TC&Co., May 28 Vignette Men At Mill Vignette New York Coat-of-Arms Vignette Sailors on the Ice TC&Co., Nov.6 Vignette for Merchants' and Farmers Bank TC&Co., Dec. 26 Vignette for Merchants' and Farmers Bank Vignette Farmer & Child Sitting in Barn Door, End Piece Cooper (L) Horses End Piece Girl Carrying Wheat TC&Co., March 26 Vignette for Bank of Missouri Paper Money • March/April 2007 • Whole No. 248 TC&Co., April 24 End Piece Ship Carpenter (L) TC&Co., May 5 Vignette for Bank of Missouri TC&Co., June 16 End Piece Farmer TC&Co., July 1 Vignette Faust & G. [Goethe?] End Piece Indian (L) TC&Co., September 15 1858 Toppan, Carpenter & Co., Jan. Design Boy Driving a Cow TC&Co., May Design Washington Design A Foraging Party In '76 TC&Co., May 25 Design A Hot Day in May TC&Co., May 30 Vignette Indian Buffalo Hunt (L) TC&Co., July Vignette Hounds Attacking A Deer Vignette Hunters of the -West TC&Co., Aug Vignette Cattle Grazing Vignette Pocahontas [crossed out] Vignette Loading Corn Vignette (Picking ?) [crossed out] TC&Co., September Vignette Indians on the Trail Vignette Sailors Attacking White Bears TC&Co., Oct. 20 103 Vignette Sailors Killing White Bears (L) TC&Co., December Tail Piece, Sailors Taking In Sail (L) (H) Tail Piece Sailors Pushing Boat Off Shore TC&Co., Oct. 28 Vignette Ox Teams Crossing The Prairies 1859 American Bank Note Company (ABNCo.), Sept.1 Vignette Indians Fighting ABNCo., Oct 1 Design Indians Attacking Emigrants (L) Vignette Dogs Killing Sheep 104 March/April • Whole No. 248 • Paper Money ABNCo., Oct. 10 Vignette Drovers ABNCo., Dec.22 Vignette Indians In Council (L) Vignette Cattle in Winter Vignette Hunter & Bear 1861 American Bank Note Company, June 27 Vignette South American ABNCo., July 13 Vignette Zouave, Flag Vignette Soldier ABNCo., Sept 23 Vignette Patriotism in 1776 ABNCo., Nov. 4 Vignette Indian fight ABNCo., Nov. 29 Vignette Wharf Scene ABNCo., Dec. 9 Vignette Breakdown ABNCo., Dec. 25 Vignette for Farmers & Mechanics Bank Samuel Carpenter, November 1 (all $60.00) Foddering vignette (1862) Nooning vignette (1862) (L) Something Nice For Old Pet (1862) Volunteer's Return (1862) Foraging Party (1863) My Pursuit of Knowledge Under Difficulties (1864) The First Lesson (1864) 1862 American Bank Note Company, March 31 Vignette Parting Words Vignette Wheat & Ploughing ABNCo., July 10 Vignette Dog & Blacksmith's Tools 1863 L.L. Smith, 183 William Street [N.Y.?] Design for McClellan Medallion ($60.00) American Bank Note Co., Feb. 28 End Piece "Vivandiere" Vignette "Winter Quarters" ABNCo., April 24 End Piece Indians ABNCo., May 1 Vignette Freedom & the Slave ABNCo., May 12 End Piece Washington, etc. End Piece Sailor Blacksmith & Farmer ABNCo., June 5 (charges now raised to $70 and $50) End Piece Soldier Praying (L) ABNCo., June 22 End Piece Taking Strong Point ABNCo., June 25 End Piece Hunter of the West ABNCo., July 29 End Piece The Picket Guard ABNCo., Sept. 17 Vignette At Auction Vignette Return of the Forager ABNCo., Oct. 4 End Piece Bull End Piece Buffalo 1864 American Bank Note Co., July 8 aztraxzwaiwt,57-7- ...,IMO* zi IVq.,1"-nit'ZMIVMIIMIageM Paper Money • March/April 2007 • Whole No. 248 105 Vignette "Cavalry Charge" End Piece "Spirit of the Times" ABNCo., Sept. Vignette "A Struggle for the Flag" Vignette "The Volunteers" Vignette Departure ) ABNCo., Oct. Vignette Milking Vignette Volunteer's Return Vignette Ploughing (L) Henry F. Durant Emigrants Surprised by Indians ($500.00) 1865 American Bank Note Co., May 11 1865 United States Treasury, Jan. 19 End piece soldier ($100.00) Vignette Eagle ($125.00) Western Engraving Co, June 2 Vignette End Piece End Piece George W. Hatch, March Painting-Volunteer's Departure ($500.00) 1866 George W. Hatch Volunteer's Return ($700.00) Sheridan's Ride ($1,500.00) 1871 Continental Bank Note Co. (CBN), Nov.2 Design in India Ink for Japanese Government ($2 50.00) CBN, Dec.7 Vignette Goddess of Light ($250.00) CBN, Dec.28 Vignette Picking Rice ($125.00) CBN, Dec.28 Vignette Transplanting Rice ($125.00) 1872 Continental Bank Note Co. (CBN), Jan. 30 Lists balance clue from December, $650.00. CBN, March 13 2 drawings God & Dragon ($200.00) CBN, May 28 1 large drawing 1 outline Vignette "Noosing" (L) 1864 United States Bank Note Co., Oct 28th. Vignette Present & Future of U.S. National Bank Note Co. (NBN), July 29th Vignette Surrender of Vicksburg NBN, September Vignette Selling a Cow NBN, November 5th. Vignette -Washington United States Treasury, Nov. 25 Head piece for Register of Vessels Head of column for Register of Vessels Foot of column for Register of Vessels United States Treasury, Dec. 15 Vignette Marine View Vignette Columbus Introducing Old World The New 1873 Continental Bank Note Co., Feb. Centre Vignette Engine &c. Western Bank Note Company, April Vignette [?over &c.] End Piece "Commerce" Centennial Finance Committee, November Design, Certificate of Stock ($500.00) 1872 Martin M Kellogg, April 22 color drawing "The Friends"($150.00) [book com- mission] A.(?) Barthold Schlesinger, Dec. color drawing for "Haddon Hall"($500.00)[book] to 1864 Continental Bank Note Co., July 16 Vignette "A Trophy" 106 March/April • Whole No. 248 • Paper Money Vignette "Marshall Discovering Gold" (L) CBN., July 20 Vignette A Reaping Machine CBN., Sept 9 Vignette "America" CBN., Sept 21 Vignette Mill Door CBN., Sept 24 Vignette The Drover 1865 Continental Bank Note Co., March 8 End Piece, "Eagle" CBN., June 6 Vignette "Millers" CBN., June 17 Vignette "Prospecting" CBN., June 29 Vignette Emigrants Attacked by Indians CBN., July 18 Vignette Miners & Blacksmith CBN., July 28 Vignette Surprised by Indians Vignette Trappers Surprised by Bear CBN., Aug. 31 Vignette "Leisure Moment," Miners in Camp Vignette "The Travelers" Vignette Indian & Moose CBN., Sept.2 Vignette for Irish Scty [Society?] CBN., Nov. 3 Vignette Emigrants (L) Vignette Horses CBN., Nov.16 Vignette The Halt in the Desert Vignette The Huskers Vignette Breaking Ground CBN., Dec.2 Vignette Indians CBN., Dec. 20 Vignette Loading A Vessel 1866 Continental Bank Note Co., January 3, 1866 Vignette Sailors on a Lookout CBN., Jan. 4 Vignette Discharging Cargo CBN., Feb.2 Vignette Sailors Pushing Off Vignette Loading Cotton (L) (from an original ABNCo archives printing plate in the collection of the author) CBN., March 6 Vignette Farmer Resting (L) (includes Darlev's dog; from original ABNCo printing plate for Massachusetts note in author's collection, see also same vignette used on a Maryland note opposite) Paper Money • March/April 2007 • Whole No. 248 107 Vignette Stone Cutter (L) CBN., May 7 Vignette A Horse Market Vignette Farmer Resting (L) CBN., March 6 Vignette Sailor At the Helm Sailors Lounging ("Three Sailors') (L) CBN., May 21 (subject not filled in) CBN., July 20 Sheep Washing end piece Milk Maid end piece Vignette Pig Drover CBN., Sept. 26 Stone Cutter end piece Ship Carpenter end piece Cooper end piece CBN., December 26 Tobacco end piece Vineyard end piece Vignette Harvest (L) CBN., March 10 Vignette Eagle & Flag, etc. CBN., March 31 Vignette A Hunter of the Rocky Mts. (L) (CBN, 1866) Vignette "A Knight of the Prairies" Cutting Corn. end piece (L) i•tatr or C!i4too11oto /%//////.//////// IT D. (-1W I MAW ?/// 422 / ;ea& iti '11410fai&U1 /////// MILFFAVW ladkil2ta- r,,,24111),AA 1) ji ai • (INA Ira 108 March/April • Whole No. 248 • Paper Money Based on Darley's sketch "A Visit from Saint Nicholas" (Durand Type IV), a delightful Santa Claus adorns this rare Bank of Milwaukee, WI $5 remainder note by TC&Co. (Courtesy Chet Krause, Wisconsin Obsolete Bank Notes and Scrip, and Gene Hessler, The Engraver's Line) 1867 Continental Bank Note Co., July 30 American Soldier & Slave 1874 Pennsylvania Railroad Design, Conestoga Wagon ($100.00) 1879 U.S. Treasury Department, Jan.1 Design Americans At Valley Forge Design Col. Washington Pursuing Tarleton Washington At Trenton ($375.00 for three designs) A number of observations may be made from Darley's list of more than 230 vignette design sales. Through January of 1854, Darley referred to drawings as "designs", rather than "vignettes" in the ledger. He used the term "end pieces." I have not seen this term used elsewhere, but I assume that he meant tall, narrow designs suited to the ends of bank notes. He was paid $60 for vignettes and $40 for end pieces throughout his relationship with TCC&Co. The balance owed by TCC&Co. on July 5, 1855, ($2,380) was paid in October 25, 1856. On May 12, 1863, in the ledger, charges increase to $70 per vignette and $50 for end pieces. By July 8, 1864, the ledger reflects charges of $125 per vignette. Darley was doing book illustration work through- out the bank note period. Publisher George Putnam was charged $15.00 for an illustration called "Young Washington & The Adjutant" in 1853. Hurd & Houghton publishers were billed $90 for six designs for the book S17771 Slick in 1871. His productivity was amaz- ing, considering the process of sketching an original concept, and finishing a pen-and-ink with sepia wash painting for each picture. Darley must have been a fast worker. In 1861, visiting French Prince Napoleon viewed a display of Darley's wash drawings at the ABNCo, and commissioned four pictures from Darley at $1,000 each. The titles were The Repose, The Unwilling Laborer, Emigrants Attacked By Indians, and The Village Blacksmith. This "Blacksmith" painting was said to have been used as a vignette, and it was widely photo-repro- duced for many years. Darley did three paintings for George W. Hatch, the President of the American Bank Note Company in 1865 and 1866. He charged a total of $2,700 for the work. It is also possible that vignettes were adapted from these. This ledger listing apparently covers Darley's whole career as a vignette designer. This is his list of designs billed to engraving companies. Darley did work for the leading security printers, incl. Tappan, Carpenter, Casilear; American BN Co.; Samuel Carpenter; United States BN Co.; National BN Co.; Continental BN Co.; Western BN Co.; and the U.S. Treasury Department. The ledger does not indicate if all the designs were accepted, or if, in fact, all of them were paid for. The only contractual arrangement appears to be with Continental Bank Note Company, starting in June of 1865. Darley appears to have been retained at $400 per month through about March of 1866. Taken as a whole, the dollar amounts listed in the ledger reflect great financial success. The ledger raises some intriguing questions for further research. Of particular note are these listings: • Two end pieces for Continental B. [Bank?] in 1854; • The 1856 vignettes for the Merchants' and Farmers Bank; • Unnamed vignettes for the Bank of Missouri in 1857; • The McClellan Medallion design for L.L. Smith in 1863; • Documents for the U.S. Register of Vessels in 1864; • The 1865 vignette for the Irish Society; Paper Money • March/April 2007 • Whole No. 248 109 r Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 314-878-3564 ROB'S COINS & CURRENCY P.O. Box 6099, St. Louis, MO 63017 Special: my Fractional Currency Book FREE (free postage too!) I to all new SPMC members who request one while supplies last I EARLY AMERICAN HISTORY AUCTIONS Sign Up to Receive Our Fully Illustrated Catalogs Free Online or Only $72 for a Full Year Subscription of Six Bimonthly Printed Catalogs AUTOGRAPHS • COINS • CURRENCY • AMERICANA • MAPS Every Auction Lot is Now Available for Online Viewing... www.EarlyAmerican.com .--7(1 I rte Ii I TE, ,11 TrATiTi0Tlit_ Consign Your Important Material • Phone Dana Linea Today! EARLY AMERICAN • P.O. Box 3507 • RANCHO SANTA FE, CA 92067 (858) 759-3290 OR FAX (858) 759-1439 • Auctions@EarlyAmerican.com li 17134,7"..,Z= 4210102Wr/..,,tt_w ap% RP far (3 41.11k 47 ”,‘4 /3attmixasies90404;i:Uniiii3406- 016(4206Waszatazign 110 March/April • Whole No. 248 • Paper Money Darley's ledger reference to designs for the Government of Japan in 1871 is a tantalizing hint of his contribution to the first Meiji paper money issue. Darley may well have designed one or all of these vignettes for Japan's 1871 one- and two-sen notes. Like many artists, Darley was enamored with Asian drawing style. (Illustrations courtesy of Joe Boling) • Centennial Finance Committee Stock in 1873; • The 1874 Conestoga Wagon design for the Pennsylvania RR; and • The designs for Japan's Meiji reform currency for CBN in 1871. • It would be especially interesting to further determine uses of his work for the Treasury Dept. Darley's designs have been adapated by numerous engravers. A sampling shows some of the "great" names of the bank note and general engraving trade of the 19th Century, including: Walter Shirlaw, J.I. Pease, Alfred Jones, J.D. Smillie, Owen Hanks, Charles Schlecht, Luis Delnoce, Frederick Girsch, Charles Burt, J. Wrightson, S. A. Scholl, Robert Hinshelwood, James Smillie, Alfred Sealey, James Duthie, Thomas Philibrowne, John Wesley Paradise, Charles H. Smith, Charles A. Jewett, W. W. Rice, and George H. Cushman. Trying to identify vignettes from the above listing runs into an obvious problem: Darley did not describe many of them in detail. Further, he did several versions 111Paper Money • March/April 2007 • Whole No. 248 About New 50 rygrt- Fr. 357u 189O LON11/41.1.00 Treasury Note "d3343 A INakr onawer. £:.i.... M.., 1.1,1 PCGS led the effort two decades ago to standardize coin grading. Today, PCGS Currency is leading the effort to create a standardized grading system for collectible currency. PCGS CURRENCY is the only currency grading service with written grading standards. We apply those standards with accuracy and consistency, giving the best representation of what a note actually grades. Please see our written grading standards on our website, www.pcgscurrency.com , or ask us for a free copy today. PCGS CURRENCY is recognized in the marketplace as having the most consistent standards. Unlike other grading services, we reward problem-free notes that possess full originality in a consistent manner. Our unique "PPQ (Premium Paper Qyality) label allows collectors to identify notes that are truly above average and free of any problems of any kind. PCGS CURRENCY- does not allow its full time graders to deal in currency. Even our outside consultants are prohibited from submitting notes to PCGS Currency or dealing in PCGS Currency-graded notes, making our grading truly unbiased with the best "third-party" integrity possible. In our first year and a half, PCGS Currency has graded more than 60,000 notes. Entrust your currency to the service with the standards, consistency, and integrity that you require — PCGS CURRENCY. mire' ‘..t.71.0, ClIOCKEUENIC A Division of Collectors Universe Nasdaq: CLOT The Standard for Paper Money Grading I .; 112 March/April • Whole No. 248 • Paper Money of some titles. In addition, the bank note companies did not necessarily title the vignettes as the artist did. The ledger is merely Darley's record of his submissions and his fees charged. Which "Blacksmith" is which? Which "Nooning" is which? This is not even the definitive list of Darley work which was turned into currency and stock vignettes. I have made a preliminary list of other vignette titles or descriptions used in references by Durand and Hessler, in the Essay-Proof Journal, in ABNCo souvenir materials, and in R.M.Smythe and additional auction catalogs. These are attributed to Darley, yet they do not seem to appear in the ledger book listing above. Some of these may be actually on the above list under a different title; some may be known titles from the engravers records; some are likely borrowings from Darley's book illustrations. In addition, some are placed on the list because they resemble Darley's work. However some of them may not be Darley's in the first place. (Attribution key continues from page 98) These "extra" vignettes are as follows: The War Alarm vignette (colonist leaves house)(book illustration) A Visit From St. Nicholas (book illustration) (H) Patriots At War (Storming Stoney Point?) (C) Charge Of The Zouaves ("Scouting Party," from ABNCo archives plate in collection of author) (D) Drinking Water (buckskin frontiersman kneels) (L?) News From Home (Civil War campfire, from ABNCo archives plate in collection of author) (H) Washington Encampment (D) Bull At The Haystack (D) Reaper (rests on scythe) (D) Reaper Taking Drink ("Nooning"?) (L?) Vrte:14.(44444 ,v 3" 4.00$ i t4001110g= yitaclia The Jack Knife (boy and girl under tree) (H) Constitution & Union (soldier, cannon, flag) (D) Colonists & Troops (book illustration) (Evangeline?) (EP) tw rj_.%) ?f / /f; Drinking At The Brook (horse drinks) (H) The Call To Arms (rider warns family) (11) / The Hail (sailor at rail) (L) /r' r(// r"( '/ 7 Civil War Snipers (Union soldiers fire from cover) (EP) 5 Paper Money • March/April 2007 • Whole No. 248 113 THE NATTLF. OF LEXINGTON. - - Battle Of Lexington (book illustration) (B, D, EP, H, PH, X) Group outside cabin, horse (X) Union Soldiers (snipers) (EP) Scout With Horse & Mule (CBN) (A) Legend Of Sleepy Hollow (book illustration) (U.S. stamp) (B) Washington Encampment (book illustration?) (B?) Drummer Boy Entertains Troops (X) Blacksmith bends over anvil, back of customer, horse (B) Major Waldron's Terrible Fight (book illustration) (L) Man Tallies Sheep (A) Mechanic/Smith with Large Gear (A) Emigrant Train, Oxen (book illustration) (A) Attack On Emigrant Train (book illustration) (A) Turning Around (plowman with team) (X) Negro Harnesses Horses (X) Cooper At Work (L) -_- DRTH BERWICK. BAN: A Husking Bee (book illustration?) (L?) First Ride (X) Pioneer (L?) Saying Goodbye (sailor leaves 2 farmers) (EP) Hunting Buffalo (L) Woodsman Warms His Hands (X) (John) Paul Jones (capturing a ship) (D) 3ANlio S MYRNA Cattle Piece (cows in stream) (H) Bull (& cow) At Haystack (D) Volunteer's Departure (H) Threshing Machine & Team (EP) Picket Guard (EP) ON IL: OltON • 1_10% C:1(,̀ "tawraisiErAaaivx.e.Aalia. 114 Feeding The Pigs (L) Buffalo (EP) Hunting Buffalo (white men hunt) (D) Miner with Iron Rod (coal mine?) (X) March/April • Whole No. 248 • Paper Money the aggressor, and there is doubt about who is going to be killed. Which ledger listing is the famous vignette, and why did Darley title it this way? The title should be (to quote the catchphrase from Jaws), "We need a big- ger boat!" E. K. Kane described the attack while on the lecture circuit. It is of little import that Kane's journal does not mention the incident with the bear. He may be excused for dramatizing his public speeches a bit for the enraptured audience. It is interesting that the vignette was keyed to current news events. As dramatic as it is, the polar image seems a strange one for a banker to choose for his currency issue. Stranger still is the vignette's use on notes from far inland. The following vignettes are also attributed to Darley in various references, or they subjectively appear to be his work. These include: The Reaper (Mower) (D) The famous White Bear vignette (illustrated above, from an original cancelled plate in the collection of the author) is thoroughly discussed in previous hobby journals (see sources). In the ledger we find Toppan, Carpenter & Company submissions on September 15, 1857, of "Sailors Killing White Bears" and on September, 1858 of "Sailors Attacking White Bears". In the well-known vignette, the lone polar bear seems to be Battle Scene #2 vignette (Washington & Tarleton?) (L?) Blacksmith from original drawing (B) Bull at the Haystack vignette (ABNCo #200) (D) Bunker Hill Death of Warren vignette (L?) War Alarm book plate, eng. by A. Babbett (D) Paper Money • March/April 2007 • Whole No. 248 115 "Continentaler" vignette c. 1863 (above left) (B) Zouave & Flag (above right) (ABNCo 1861) (used on U.S. bond) (H) 13119,0%— tmemens ear Cows in Stream vignette (D) THE STORY IN COLOR I I • BUNYAN'S PILGRIM'SDol ,, 0 MESSRS. ILLUSTRATED BY KYLE, IVIAY, HUNTINGTON, CROPSEY, CHURCH, BARLEY, DALLAS AND PAUL DUGGAN. fl.. 117 ° , z"---- _. --- ... — k ,f. ..., - PART I. Bunyan Dreaming ; Alan in Raga; Evangelist poUde out Wicket Gate; Slough of Deupon ,l; Hill Legality; Wicket Gate ; Intcrpretor's Palace ; Christian Loses his Burden: Hill Difficulty. The AT. her;. Palace Beautiful; Interior ; Viewing the Delectable Mountains ; Arming of Christian; The Du; parture; Valley of Ilumiliation ; A Fight with ApoHyou; Christian receives the Healing liCAVei ; En- tera the Valley of the Shadow of Death; Fiend whDpers Blasphemy in his Ear ; Pamea through the Volley ; Giant's Cave ; Overtake', Faithful; They glee the City of Vanity; Triumphal Procession, Vii2A1V7./ lAlig Gambler-a' Booth, &v. ; The Temptations; Trial of Faithful; lie is led out to Execution. .____.— __________•__--...-_,_— — .._,-_,„:„. — . ••'- ! e th''' ..000.61: ‘,. cc 1/4 PART II. By-Fads, Aloony-Love, Rini Fair-Speech. meet the PiDrinw; Comas tempts thorn to the Silver Aline Pillar of Salt; River of Dm Water of Life; They los, them,,elyea in the Grounds of Giant Despair ; The Giant seize, then]; Thu; Captive.',; The Escape; Delectable, fountains: Shephordu show them the 1 Alountoin, Hill of Error: Distant View of Celenial City ; Fate of dm Ai,..tat,; Enchanted Land ; Load of Beulah; They eiliCi. the River of Death. PART M. Representing Scenes from the Second Part of Bunyan's Work. , Aletcy fainting ,tt th,, Wickot G,,,, ; Great 11.D with ChriAtiana Anil her Eamil) at the Spring; Great hart encourag, thorn to out, the VolDy of the Shadow of Death ; Pousage through the Valley ; Land of Beulah ; The Ales,ienger ,,,,nt to sunmwo Clri ,tiana ; Au,ther :',•ene in the Land of Beulah; Christiana porte fmni her Family nml ,,,,,,,, 11,, Riv, ,, i D,,,t1,; Gat° of the 0,,I.ial City, ADMISSION, 25 CENTS. DOORS OPEN ST 7. TO COMMENCE AT QUARTER TO S O'CLOCK. 1 DESCRIPTIVE CATALOGUES, 12 1-2 CENTS. Tn. Naoanmlor rug PUMP. l'Afiii1.1. la undout,u.dty a leork of decided merit andss aanthch thole, theordinary standard of Panorama* as Ithoyanio Allegory W stow the ordithow stonderd of Allegorical oritinp, The paella of several of .r roost popular anion, a.d.wledgtd ability, ban been long and diligently engaged in persisting it far exhibition and the reap his prothd highly eatiefactory to all concerned A Wsit to this Vtherarna ie ...cleave sad entetthining in a high Jerre. Intembhi to Mutant< in a thor.ugh manner fithyathe beatitifol aliegory, abundant i field is futhishod for the dispthy of artimical L in the wemry and incidents . in fact, a more a,,pi- ms field for imoginutim mull hardly be conceived than that furnished tor the filpinis lirogross-full of hideous mouthere kngelie toms, yawning alma, en,banting Went, plum and craggy rocks-the Valley of do, Shadow of Death in all it. tariom pets td the last glorious them of the pmange to eternity thriceth the Riser of Dm.- the pilpith turroundtel with all that it beautiful and glories.-We whole has boo ably and inimitable illthrated by the talented ortistettho originated the work , and we tap all our madam who are Imps of the hcatittful. to wit the pammuns without delay-N. V. Exprem Star We take their an Sahibithel athhat recently opened of the pencrimic pinting a th. Pilgrim, P.p.. as emo of the hem Wpm, of the Cram Ite pied were, with what', thr Mbar nwrit, all in ths thoweend spwit of appeal to idle tonality, and gratification ,,f • desire for m little etthyditythfonnation. with ththrd a, the physical pew lianties of the Alitholippi Ilithr, Cola, owl Californio We ma We ia prthotheing the SOW!, exhiliam a If *Veil, • Mor, m . 1 0 delightfully told, and %Iwo, if not quite, at well worth listening to WI il• at,,,,,,, Sow of piet,,64 etorpeorezm lithry Clay in the ,eutto Chemise, or lawny Lind et Veinier 11•11.-thithary Wield, Nor. 23, George F. Itesbdt St. Coo., Printers and Stationers, cor. Wall and Water sta., N ,-1114314P<IGlir I ArRAW, Deerslayers vignette (D) /711/7//, Drinking from the Brook end piece (D) March/April • Whole No. 248 • Paper Money Groom Saddling Horse vignette (X) Harvest vignette (0) Hospitality at Cabin Door vignette (X) Drummer Entertains Troops end piece (X) Indian Ambush vignette (B) First Ride vignette (X) Indians Ambush Settler vignette (EP) Sailor At Capstan #2 end piece (X) Pioneer vignette (National Bank Note Co.) (X) Sailor Leans on Capstan vignette (L) Paper Money • March/April 2007 • Whole No. 248 117 Longshoremen vignette (H) Prairie Warriors illustration (eng. by Alfred Sealey) (L) coxwmvArao, Mill Door vignette (X) ifirk 41%.- 11714412111 /MAI kit 001140 DOLLAR OM Indian Attack on Pilgrim Family (aka "Major Waldron's Terrible Fight" vignette [ABNCo] this is probably "Puritans at Prayer Surprised by Indians" in the ledger, TCC 1855) (L) () rt DOLLAR ONE DOLLAR CEO D RaE ONE' DOLLAR ONED ONE DOLLAR ONE D LIIBI ONE DCSLAR ONE 12.edi ONE DOLLAR ONE D .:LIAR ONE DOLLAR 01. D Roger Williams vignette (0) (B?) drosee.- J4i 118 Scout With Horse & Mule vignette (0) March/April • Whole No. 248 • Paper Money Saint Nicholas Visit vignette (V 46218) (B) Sheep Shearing vignette proof (ABNCo # V475) (L?) Spinning Wheel vignette, c. 1854 (A) Standard Bearer vignette (NBNCo) (D) Taking in Sail vignette (H) "The Hail" (sailor at rail) vignette (ABNCo # 139) (X) Three Sailors at Seaside vignette (TC&Co) (EP) 0 Harlan j Berk, Ltd. "The Act & Science af N umis mat ic s" 31 N. Clark Street Chicago, IL 60602 312/609-0016 • Fax 312/609-1305 www. harlan iberk.com e-mail: info@harlanjberk.com A Full-Service Numismatic Firm Your Headquarters fOs- All Your Collecting Needs MYLAR D® CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4-3/4" x 2-1/4" $22.50 $40.50 $180.00 $320.00 Colonial 5-1/2" x 3-1/16" $23.00 $42.00 $195.00 $350.00 Small Currency 6-5/8" x 2-7/8" $23.50 S45.00 $200.00 $375.00 Post Card 6-5/16" x 4" $25.50 S48.50 $215.00 $400.00 Large Currency 7-7/8" x 3-1/2" $26.50 S49.50 S220.00 $410.00 Auction 953-3/4" S29.00 S53.00 $250.00 $450.00 Foreign Currency 8 x 5 S33.00 S60.00 $275.00 $485.00 Checks 9-5/8 x 4-1/4" $33.00 S60.00 $275.00 $485.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8-3/4" x 14-1/2" $20.00 $88.00 $154.00 $358.00 National Sheet Side Open 8-1/2" x 17-1/2" $21.00 $93.00 $165.00 $380.00 Stock Certificate End Open 9-1/2" x 12-1/2" $19.00 $83.00 $150.00 $345.00 Map & Bond Size End Open 18" x 24" $77.00 $345.00 $625.00 $1425.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 10 pcs. one size). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar D® is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 51010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 www.denlys.com Paper Money • March/April 2007 • Whole No. 248 119 I Collect FLORIDA Obsolete Currency National Currency State & Territorial Issues Scrip Bonds Ron Benice 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 Benice@Prodigy.net Baying Carl Bombara Sellinf4 United States Currency P.O. Box 524 New York, N.Y. 10116-0524 It *lir Pi\ Phone 212 989-9108 Always Wanted Monmouth County, New Jersey Obsoletes - Nationals - Scrip Histories and Memorabilia Allenhurst - Allentown - Asbury Park - Atlantic Highlands - Belmar - Bradley Beach - Eatontown - Englishtown - Free- hold - Howell - Keansburg - Keyport - Long Branch - Manasquan - Matawan - Middletown - Ocean Grove - Red Bank - Sea Bright - Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732-282-2525 Tired Team vignette proof (NBNCo) (X) 41-17.1i1 Washington Encampment vignette (ABNCo) (L?) iltuabAGsviial,barkesiailmummurairaciartram v_m DIAMOND STATE' BANK Washington in Camp vignette (L?) To Arms vignette (ABNCo) (EP) Turning Around Plowman vignette (X) Woodsman and Boy vignette (above left) (X) Woodsman Warms Hands end piece (above right) (X) 120 March/April • Whole No. 248 • Paper Money Union Skirmishers vignette (eng. by Luigi [Louis] Wounded Soldier vignette (NBNCo) (X) Delnoce) (A) Paper Money • March/April 2007 • Whole No. 248 Collecting Darley materials is a challenge. Book illustrations show up frequently on eBay as single pages or whole books. Original artwork is occasionally seen, although prices are highly variable. Many modern sou- venir cards and ABNCo modern "proprietary proofs" have Darley vignettes. Auction catalogs are good sources to see vignettes on notes and stocks. Older proofs from engraver's sample books are not so preva- lent as before, but interest in is sure to increase, with the massive amount of engraved material being offered from the ABNCo archives over the next months and years. Paper money and stocks with Darley connections are not generally valued on the basis of their vignettes. Obsolete currency containing these particular vignettes tends to be scarce, because Darley entered the vignette field rather late in the obsolete currency era. A majority of the issuing banks continued in business long enough to redeem and destroy their notes. Many of the Darley vignettes are available only on rare circulated notes or contemporary proof notes. Felix Octavius Carr Darley's name has been kept alive through his connections to the paper money hobby, through a few modern gallery exhibits, through dedicated collectors, and through interested individuals, many of them in northern Delaware. 3 During Darley's working life, methods of printing reproduction in color and styles of art technique changed. The public's tastes changed. Nineteenth Century sentimentality and ideal- ized stereotypes fell out of fashion. In today's art world, book illustration and engraved ephemera take second place to fine arts masterworks in galleries and museums. A witty member of the Darley Society said, "Darley is the most famous forgotten American artist." Darley's art, esthetics and attitudes were things of his time. Now, he provides us with a perspective about how people viewed America back then. Darley had a genius for expressive composition. Paper money collec- tors can be thankful for his little works of art. 4 Notes: 1. Darley's tombstone specifies 1821 as his birthdate. The late Carol Digel, a Darley scholar, stated that Mrs. Darley obtained the stone, and "should know when he was born." The Darley home has suffered periods of neglect. It was extensively restored and operated as a bed & breakfast inn for several years. Some Darleyana was displayed there, and the furnishings were appropriate, but not original. The home is vacant, and, I believe, for sale at this writing. Claymont, DE was originally a country retreat for Wilmington society. Darley enjoyed a view over rolling fields down to the Delaware River. The view is now obstructed by Interstate 495 and by industrial buildings. Darley's name is immortalized on the street that borders the property on the south. 3. Carol Digel, Martha Schick, Ray Hester and Judith Hester gave help and encouragement in preparing this article. 4. Thanks to author Nancy Finlay of the Connecticut Historical Society for reviewing this article and for making helpful suggestions. Thanks to Joe Boling for illustrations of the rare Japanese notes, to Chet Krause and Gene 121 Hessler for the Santa Claus note, to Steve Whitfield for a Kansas note, to Don Kelly for an Illinois note, the N.Y. Public Library, Brooklyn Public Library, University of Michigan Library, Library of Congress, University of Beilefeld Library, and to Heritage Numismatic Auctions. Sources Bossert, Jill (ed). Illustrators 43. New York: Society of Illustrators. 2001. Cooper, Susan Fenimore. "James Fenimore Cooper: Pages and Pictures," Abdildungen aus James Fenimore Cooper, University Library Bielefeld. URL www.ub.uni-bielefeld.de Darley, Felix O.C. Manuscript ledger book of commission fees. Martha Schick collection, Claymont, Delaware. Durand, Roger H. Interesting Notes About Histoey. Rehoboth, MA: by the author, 1990. Durand, Roger H. Interesting Notes About Indians. Rehoboth, MA: by the author, 1991. Durand, Roger H. Interesting Notes About Vignettes. Rehoboth, MA: by the author, 1995. (D-V1) . Interesting Notes About Vignettes II. Rehoboth, MA: by the author, 1995. (D -V2) . Interesting Notes About Vignettes III. Rehoboth, MA: by the author, 1995. (D -V3) Finlay, Nancy. Inventing the American Past: The Art of F.O.C. Darley. New York: New York Public Library, 1989. Friedberg, Robert. Paper Money of the United States. Fort Lee, N.J.: Coin & Currency Institute, 1981. Griffiths, William H. The Store of the American Bank Note Company. New York: American Bank Note Co., 1959. Hahler, Christine, ed. "...illustrated by Darley." Wilmington: Delaware Art Museum, 1978. Hessler, Gene. The Engraver's Line. Port Clinton, OH: BNR Press, 1993. (He-1) Hessler, Gene. An Illustrated History of U.S. Loans, 1775 - 1898. Port Clinton, OH: BNR Press, 1988. (He -2) Hessler, Gene. U. S. Essay, Proof and Specimen Notes. Port Clinto, OH: BNR Press, 1979. (He-3) Horstman, Ronald. "Kane's Arctic Expedition," Paper Money, 1982 (Vol. 21, No. 4, Whole No. 100). Horstman, Ronald. "The White Bear," Paper Money, 1999 (Vol. 38, No. 2, Whole No. 200). Huntoon, Peter. "Stars Hidden On $10 and $20 Brown Backs," Bank Note Reporter, June, 2003. (Hu-1) Huntoon, Peter. "Varieties In the Battle Of Lexington Vignette on $20 National Bank Notes," Paper Money, 2006 (Vol. 45, No. 3, Whole No. 243) (Hu-2). King, Ethel. Dailey. Brooklyn: Gaus' Sons, 1964. Morris, Thomas F. "Felix O.C. Darley, Bank Note Artist," Essay- ProofJournal, Winter 1961 (Vol.18, Whole No. 69). Mueller, Barbara. "F.O.C. Darley, Bank Note Engraver," Essay-Proof journal, 1990 (Vol. 47, No. 4, Whole No. 188). Muscalus, John A. An Index of State Bank Notes That Illustrate Characters and Events. Bridgeport, PA: Muscalus, 1938. The Opening of the West. New York: American Bank Note Co., 1979. Reed, Fred (ed). "Roll Out the Welcome Mat". Paper Money, 2004 (Vol. 43, No. 3, Whole No. 231). Smedley, Glenn B. "New Data Comes To Light Concerning Pilgrim Scene," Coin World clipping, date unknown. Tomasko, Mark D. "Die Numbers Reflected Changes At ABN," Bank Note Reporter, June, 2004. U.S. Treasury Department. History of the Bureau of Engraving and Printing, 1862 - 1962. Washington, DC: Government Printing Office, 1962. 122 March/April • Whole No. 248 • Paper Money I N ORDER TO THWART COUNTERFEITING, BANK NOTES ARE ENGRAVED, AS OPPOSED to being produced merely from movable type. Engraving usually involves extensive use of artwork and scrolling. By the mid-1830s, printers of bank notes developed a rather extensive library of "transfer vignettes," including portraits of patriotic heroes, men at work, trains and sailing ships, pastoral scenes, alle- gorical figures, and many other things. These transfer vignettes could be incorporated into engraving plates, along with scrolling and words formed from various typefaces. The evolution of the bank note is illustrated in the following three specimens, all issued by the Bank of Baltimore (Kelly, et al. 1996). The first specimen, Figure 1, is a twenty-dollar note issued in 1812. Notice that the note is in the form of a cashier's check made out (indirectly) to the bearer. That is, the text of the note asserts that "The President, Directors and Company of the Bank of Baltimore promise to pay Th. Wane or bearer on demand Twenty Dollars." It is the convenient denomination of the note and the credibility of the promise to pay that enable the note to gain currency, or the "medium of exchange" quality of money. Notice the signatures and other items on the bank note that are to be completed by hand. Typically, the note Female Beauty As Depicted on U.S. Obsolete Notes by Clifford F. Thies, PhD Professor of Economics and Finance, Shenandoah University was first issued in conjunction with loan-making, so that the named payee was a borrower from the bank. If, at some time in the future, the note was received by the bank, the bank might have canceled it or re-issued it, depend- ing on its policies and the condition of the note. Notice also that the artwork in this 1812 bank note includes only a small, simply-rendered vignette and very modest use of scrolling. The second specimen, Figure 2, is a two-dollar note of the type issued in 1842. The note is, similar to the immediately preceding one, in the form of a cashier's check. That is, it is a promise by the hank "to pay J. Dorsey or bearer on demand Two Dollars." Notice, with this bank note, that the artwork, scrolling and typefaces are somewhat more ornate. Artwork is still modest on this note, including counters and end panels. Higher values of the period included vignettes of an American eagle, a shield of the state of Maryland flanked by a planter and a sea- man. This vignette might be seen as representing the business of the bank, vis., financing the trade of Maryland, under the laws and protection of the state and the nation. The third specimen, Figure 3, is a blank five-dollar bank note remainder of the type issued c. 1850. Notice that the bank note asserts that "The Bank of Baltimore promises to pay Five Dollars on demand to or bearer." Once again the note is in the form of a transferable cashier's check. Notice also that the artwork now dominates the bank note, although the text is not completely obscured. In addition to the vignette described above, the artwork includes images of male figures connoting strength and prosperity, virtues reflecting well on a bank of issue. Female Beauty on Bank Notes As already mentioned, by the mid 1830s, printers had assembled libraries of transfer vignettes that could be incorporated into engraving plates to produce bank notes. Some of these vignettes are evident in the above three specimens. Most curious of the artwork was the use of female beauty and, in particular, nudity, and sexual intrigue, not only because of the importance of reputation for banks, but also because of the sexual mores of the times. -v )) ) 2) ( ■,.. --,.....:/ (-- ..=,— ( . , ri,,, / ,'/;'// / ,/ 7r Y'r '/P/ i (.717 / /7 / ' . , / 1 „,.. ) , _ ./..,,„ , _ _....... r.0 attv ;77 )Muttlore' , ._, ,/, „,/,,, ,/,.. /7 ,-......_,..."....--. ,---..„/ ‘„.....____ ---- - ----„,,----.........---/. . , ........_ ryrrt,, ri // ,..,./iEal T 'WE N i I 7- ,.. ,,, 7_/ — 14/76,"-- C.ki,600••P••!'"1""""-"" „,/,t(;)/74/4/1_ /e;7'e'Ve"i4.1 u P' I-31,YLTITLE A' arr r i W {A' //./r///r 7 hr- 123 Paper Money • March/April 2007 • Whole No. 248 Figure 1 Figure 2 Figure 3 KitialillUDEEVIIMIEVIDIX/3110101011MNEVIliMMEMV VaINEVIGIVintrinintininilltilarAlittlWIIGMEillELIMICIVE12112111221X1=1 1-- , • (Q0) (i)(1 1 i ill ..„.9. C a ?, ..-.---- --:--- id ---Arissirsstrex, //7////)4,7,/," (g/i.) 4 (,/' (7 . i---/ (4)/,fri/( ,/,',, r /7; -ii 11,,m7.:11).4'.■,",1, 147 1.1.I • • • truinitasmuramingunalanzatizamuumannurinummisim V NFOlkiliii:VVV1 Nal V iNV -FAIDITONSVEITATAIMIVRX 124 March/April • Whole No. 248 • Paper Money Figural ornamentation on this $50 proof of the Planters Bank of the State of Mississippi includes Hebe at left. During the early Victorian period, depictions of nude and semi-nude "idealized" women became popular in art, including painting, sculpture and jewelry. Almost always, these women were allegorical (e.g., goddesses from Greek mythology), representations of women from the long-distant past (e.g., women of the patrician class of Rome), or representations of African or Native American women. In many instances, the women were depicted as demure and sexually-innocent, being young and having pre-maternal breasts. In others, the women were depicted as strong and assertive. And, in yet others, the women were depicted as wise, independent and matronly. When reduced to transfer vignettes, this style of artwork was among the more popular in the design of bank notes. DROVERS BANK - 47::: t.;11( r • //, it", NOME:- " • piiu4, For some specimens of bank notes issued by failed and possibly fraudulent banks that depict nudity, consider the following two from Free Banks of Indiana (Wolka et al. 1978). Indiana's Free Banking law allowed any group of five or more people to incorporate a bank, and issue bank notes upon presenta- tion of qualifying bonds to the state auditor. One hundred and four Free Banks were subsequently organized in the state, 89 of which were quickly closed. Figure 4 (above) presents a blank five-dollar note from the Drovers Bank of Rome, Indiana, of the type issued in 1852. This particular bank failed soon after it was organized, which might be indicative of wildcat banking. It also put its notes into circulation in a distant place (Wolka et al. 1978: 234), making it probable that the bank was organized as a "money manufacturer." ag) !A? 1,,t11,-ISLI,I.J..3.11.1,741,rifr ,PAASSX lASSILMAILo N. JER SET. IIIIIVIIVII=►igraammtiunammernumurwmatuentaratikaammi , STATE OF bti 5311011X1311111611112101003331110=irollia •)"1:11,,4.cy r " r::61VINr : re rilt);V:F:r so.? 1.itta),A■L4.14 4.4.4 1.1L ;1'4 '1...14 -,..tiai41.r ////7// ( 1:141) -tilottito Paper Money • March/April 2007 • Whole No. 248 125 Feminine figural representations dominate this $8 Peoples' Bank of Paterson, NJ remainder note. Examining the image of the note issued by the Drovers Bank, in addition to the promise to pay ("The Drovers Bank will pay Five Dollars on demand to the bearer."), the note indicates that it is "secured by pledge of public stock." This security refers to the bond collateral characteristic of Free Banking in the United States. That is, entry into banking could be made "free" or open to all, since the notes issued by the bank were secured by state government bonds deposited with an officer of the state. A seal furthermore indicates that it is counter-signed and registered (i.e., with the state auditor). Two allegorical figures, both females, are represented in other vignettes on this bank note. One of these two allegorical figures is the goddess Columbia, already seen in one of the bank notes issued by the Bank of Baltimore. The other allegorical figure is of a goddess watching over productive activity in industry and in agriculture. The goddess is posed so as to reveal the full length of her back. The scene might be interpreted to imply that the bank, in its lend- ing activities, is like a muse, facilitating the productivity of others. STATE BANK J101 la — Iglu • 111 ,// 777 '4; /// /// / / /7 r_d 1.99* t: t.-v : 4 :s Figure 5 (above) presents a blank five-dollar note from the State Stock Bank of Indiana at Peru, Indiana, of the type issued in 1853. Notice, in particu- lar, the typeface for the name of the bank, with the words "Stock" and "at Peru" flourished and muted. Could it have been the intent of this bank to mis- lead people into thinking that the note was a bank note of the State Bank of Indiana, a fine, conservatively-managed, confederation of non-Free Banks? And, could it have been the intent of the bank to use the images of scantily-clad goddesses in the main vignette of the note to "misdirect" the "mark" upon whom the note might be foisted? ar r.) r4rt.,..)---r -re 41x • (..,•.1,- • March/April • Whole No. 248 • Paper Money The President of the State Stock Bank of Indiana at Peru was also the first auditor of the state of Indiana, i.e., the state officer responsible for counter- signing and registering the notes issued by the Free Banks of the state. This person, Mr. E.W.H. Ellis, was the founder of a several "State Stock Banks," each of which failed soon after it opened, each at a substantial loss to those unlucky enough to be holding its notes (Wolka et al. 1978: 210). It appears that Mr. Ellis saw the profit in opening-up banks that were no more than money manufacturers: that is, banks that deposited state government bonds with the state auditor, acquired at less than par in the marketplace, in order to put bank notes into circulation, and leave whoever could be cajoled into accepting the notes to suffer a loss. Maine Bank Notes The next three figures are of bank notes from the state of Maine (Wait 1977). Maine remained a "Charter Bank" state throughout the antebellum period. That is, the organizers of a bank had to obtain a charter from the state legislature, sometimes accomplished through a special act of the legislature, and sometimes through a general bank act chartering several banks, as well as renewing the charters and increasing the authorized capital of other, already- established banks. While Maine remained a Charter Bank state through the antebellum period, it appears that it was something akin to "pirate havens" for unscrupu- lous bankers (many of whom were from other states). In Maine, it appears to have been easy to enter banking, as the numbers of banks, of new banks and of bank failures were relatively high through the period, and there is a lot of anec- dotal information of fraudulent banking. Figure 6 is of a blank three-dollar note issued by the People's Bank of Bangor, Maine, of the type issued in 1835. The note is busy, with two portraits flanking a large, allegorical scene, and a cameo at the bottom, along with numerous "three's". The commanding vignette is of a seated goddess, blind- folded, and unencumbered by a blouse. The People's Bank of Bangor, Maine, lasted but two years. The vignette is one of many depicting the intrigues of Zeus (or, in the Roman pantheon of gods, Jupiter), "the winged adulterer," represented by the eagle. In this scene, Zeus and his good buddy Mercury are seducing Venus, from which intrigue will come forth the Cupids. Figure 7 (following) is a remainder five-dollar note of the Hancock Bank of Ellsworth, Maine, of the type issued in 1854. This note presents a clean appearance, but is not quite minimalist. There are two vignettes. The larger one depicts an Indian maiden and a frontiersman (Pocahontas and John Smith, according to some commentators) flanking five gold dollar-coins, with three cherubs (or, perhaps, the Cupids). The Indian maiden is unbothered that one of her breasts is showing. 126 :111/- . 1 - -011 Paper Money • March/April 2007 • Whole No. 248 127 On This Date in Paper Money History -- Mar. 2007 By Fred Reed © Mar. 1 1801, London Stock Exchange founded; 1862, deadline for reissuing CSA 3.65% inter- est bearing treasury notes; 1955, Chase National Bank of the City of New York changes name to Chase Manhattan Bank; Mar. 2 1833, Congress authorizes land scrip as bounty payment to still living soldiers of the American Revolution; 1872, South Carolina authorizes post-war state treasury notes; Mar. 3 1811, First Bank of United States ceases operationss; 1863, Act gives Treasury Secretary authority to make interest-bearing treasury notes legal tender; 2003, BEP begins requiring tickets for tours on first-come, first-served basis' Mar. 4 1814, Congress authorizes 5.4% interest-hearing notes;; 1933, FDR declares "Bank Holiday" to begin Monday next; Mar. 5 1845, Baltimore currency dealer George Massamore born; 1924, Collector John J. Ford born; 1991, Introduction of H.R. 1245 calling for ceasing issue of Si notes; Mar. 6 1819, AlcCul/och v. Maryland affirst BUS has constitutional right to establish branches within any state; 1982, Objectivist philosopher Ayn Rand, who said "wealth is the product of man's ability to think," dies; Mar. 7 1865, Encased Stamp issuer J.C. Ayer patents three mining improvements; 1874, CChattanooga, TN purchases printed scrip from Calvert Lithographic Co., Detroit; Mar. 8 1701, Massachusetts House reviews report of Gneral court committee on monetary reforms; 2002, Cash-laden crime comedy ,4Il About the Benjamins debuts; Mar. 9 1839, "First" CSA current collector Robert Alonzo Brock born; 1861, Notes issued under this CSA Act actually signed by Treasurer and Register; Mar. 10 1852, Louisiana legislature restores banking privileges of Citizens Bank of Louisiana, issuer of the famous dix notes (which had nothing to do with the naming of the South as "Dixie".; 1863. Third Issue of Legal Tender Notes bears this date; Mar. 11 1933, First small size Federal Reserve Bank Notes enter circulation; 2001, former Treasury Secretary Lawrence Summers announced as Harvard University president; Mar. 12 1830, Supreme Court in Craig v. Missouri rules state loan certificates intended for cir- culation are unconstitutional; 1869, George S. Boutwell becomes Treasury Secretary; Mar. 13 1832, Senate select committee reports favoring renewal of BUS charter for 15 years; 1979. European Monetary System established; Mar. 14 1853, Ohio legislature authorizes state treasurer to seize all assets of tax delinquent banks; 1900, Congress repeals authority for Currency Certificates of Deposit; Mar. 15 1815, Interim emergency banknotes printed by a Dar-es-Salaam newspaper bear this date; 1978, The Unites! States Treasury, a Pictorial History by Gene Gurney published; Mar. 16 1861, Francis E. Spinner takes office as U.S. Treasurer; 1867, Confederate note facim- ilist Sam Upham advertises his patent cure for drunkenness in Harper's Weekly; 1937, BEP begins printing S1 Silver Certificates on experimental paper; Mar. 17 1782, Pennsylvania Legislature passes act making counterfeiting banknotes a crime; 1865, last desperate loan act of CSA Congress; 1919, U.S. currency designer Kenyon Cox dies; 1960, Bank of England issues new one-pound notes; Mar. 18 1817, Bank of St. Louis $10 note vignette provides earliest view of this river city; 1863, Subscription books for Erlanger loan open; 1865, John Wilkes Booth withdraws tinal S25 from account at Jay Cooke & Co. four weeks before Lincoln assassination; Mar. 19 1870, Boston Numismatic Society incorporated; 1941, Treasury Order 39 establishes War Finance Division, forerunner of Savings Bond Program; Mar. 20 1968, LBJ signs legislation removing gold backing from U.S. currency; 1977, numis- matist Fred L. Reed Ir. dies; 2000, New Zealand sixth series 550 polymer note issued; Mar. 21 1617, Matoaka ra.k.a. Pocahontas), who appears on several U.S. federal notes, dies; 1863, Frank Leslie's Illustrated Weekly lampoons emergency small change expedients; 1979, SPMC Wismer researcher for the Smithsonian approved; Mar. 22 1813, Engraver Jacob Perkins patents "vault lock for banks"; 1832, Roger Sherman memorializes Connecticut Controller of Public Accounts to curb wild-cat banking; Mar. 23 1862, Virginia State collector approves 4% CSA bonds as receivable without interest in payment of taxes payable in 1864; 1982, first delivery Series 1981 $10 FRNs; Mar. 24 1923, National Civil Service Reform League calls on President Harding for further explanation of dismissal of 27 BEP employees a year previous; 1962, John O'Hara's short story "Money" published in The New Yorker; Mar. 25 1776, New Jersey Provincial Congress authorizes 125,000 pounds in bills of credit; 1892, Banknote engraver Charles Burt dies; Mar. 26 1935, first small size sheets of S1 SCs delivered to Treasury vaults; 2004, Guidebook of U.S. Currency: Large Size, Small Size, Fractional by Ken Bressett copyrighted; Mar. 27 1694, Massachusets General Court sets exchange rates for produce passing as curren- cy; 2006, Federal Reserve Board launches "kid's web page" to educate middle school- ers on Board of Governors of Fed Reserve System; Mar. 28 1834, U.S. Serrate censures President Andy Jackson for removing U.S. Deposits from Bank of US; 1896, Counterfeiter Emanuel "Jim the Penman" Ninger arrested; Mar. 29 1830, Senate Finance Committee reports favorably on uniform national currency; 1862, Virginia permits cities/counties to issue up to $2.5 million in tractional notes; 1883, Tennessee Legilature passes second Act to retire Bank of Tennessee notes; Mar. 30 1833, tire breaks out in Treasury Building at Pennsylvania and 15th St.; 1942, first deliver of Series 1934A $1000 FRNs; Mar. 31 1848, Toppan, Carpenter & Co. receive contract for U.S. Treasury Notes; 1951, end of Second Sereis of Postal Notes; •••• ' - ••• E H API CO CK . N K - 'La ; 1 ta](///',////%,/, ///7 //ft /: /// March/April • Whole No. 248 • Paper Money The second vignette is of a small but anatomically-correct woman appar- ently being covered by a swan. The woman is the nymph Nemesis, and the swan is Zeus, AKA the "winged adulterer." Zeus, taking on the image of a swan, sought sanctuary from Nemesis. Supposedly, the swan was being attacked by an eagle (i.e., Zeus in a prior manifestation). Nemesis took in the swan. Then, when Nemesis went to sleep, Zeus raped her. The vignette is of the rape. With this note, the depiction of five gold dollar-coins might be consid- ered misleading. The note was not a gold certificate, but merely a promise to pay. That is, the issuing bank was not a 100 percent reserve bank, but a frac- tional reserve bank, and would have to make good on its promise to pay from the repayment of the loans it made. But, three years after it was opened, the bank proved unable to make good on its promise to pay. Those holding the notes, like Nemesis, were defrauded. Figure 8 (above) is of a five-dollar note issued by the Merchants Bank of Bangor, Maine, in 1850. This bank was organized in 1850, and continued in existence until 1865 at which time it converted into a National Bank. There are three main vignettes, each featuring a woman, across the breadth of the note, and a cameo of a ship at the bottom. From left to right, the first woman depicted might be considered to be an allegorical figure. The scene includes a cornucopia, representing abundance. The second woman depicted, amidst the Roman numeral V, is a farm woman with a sheaf of wheat. The third woman depicted is a partially-nude Indian warrior. Her appearance projects strength and self-confidence. She is the goddess Columbia, now manifested as a Native American. The use of nudity was not limited to fraudulent banks. Mississippi Bank Notes The next two figures are of bank notes from the state of Mississippi (Leggett 1975). With regard to banking, Mississippi is representative of the states of the "new south" that experimented with state-owned banks, land banks, development banks and other get-rich-quick schemes. The only differ- ence was the magnitude of the banking orgy in Mississippi, based on mortgages on land and slaves and the issuance of state bonds, all of which were repudiated 128 Paper Money • March/April 2007 • Whole No. 248 129 On This Date in Paper Money History -- Apr. 2007 By Fred Reed © Apr. 1 1778, the dollar sign "$" created by Oliver Pollack (Pollock), a New Orleans business- man, according to one tradition; 1863, U.S. Treasurer Francis E. Spinner issues rules for redemption of mutilated Postage Currency; Apr. 2 1862, U.S. Showman P.T. Barnum gives lecture in London, England, on Confederate Bonds and Uncle Stam's Greenbacks, entitled "Money. Money. Money."; 1914, Federal Reserve announces plans to establish 12 districts; ; Apr. 3 1876, House of Representatives reports on printing of securities of U.S.; Torn and Jerry's comic book "Money" copyrighted by Golden Books Publishing Co.; Apr. 4 1861, U.S. Supreme Court justice John McLean, who appears on Ohio state bank notes, dies; 1882, Encased stamp inventor, pub owner, and bon vivant John Gault attends furneral of suicide Cornelius J. Vanderbilt; Apr. 5 1830, CSA Treasury and currency scholar Raphael P. Thian born; 2005, Ohio National Currency Collectors Association )ONCCA) formed; Apr. 6 1864, Rep. Samuel Hooper of Massachusetts speaks on "necessity of regulating the currency of the country" before House of Representatives; 1864, House debates estab- lishing National Currency Bureau; Apr. 7 1864, lames Gallatin reports to NY State Committee on Banks on federal government funding of loans; 1961, USDA introduces Series 1961, new style food coupons; Apr. 8 1814, first banknotes delivered to Netherlands Bank; 1999, CSA and southern states currency author Colonel Grover Criswell dies of heart attack Apr. 9 1742, Massachusetts House resolves to require some "bills of credit of the present emission... shall he signed by three of the committee"; 1924, former Comptroller of Currency Charles G. Dawes recommends plan for WWWI reparations; Apr. 10 1816, Congress authorizes loan to fund its subscription to Second Bank of he United States; 1915, Rex Film Corp. releases silent film A Man and His Monet; Apr. 11 1755, Colonial Currency engraver Peter Rushton Maverick born; 1863, first National Bank organized in New York, FNB of Syracuse, charter No. 6; Apr. 12 1866, Boston Numismatic Society exhibits CSA note collections; 1922, Outlook maga- zine ublishes "The Dismissals in the Bureau of Printing and Engraving" (sic); Apr. 13 1865, Thousandth National Bank chartered, National Bank of the Republic, NYC; 1951, paper money cataloger D.C. Wismer Estate Sale Part 1 takes place; Apr. 14 1803, French law gives Banque de France 15-year monopoly on bank note issue in denominations of 500 francs and above; 1865, Abraham Lincoln assassinated with CSA S5 note in his billfold; Apr. 15 1793, Bank of England issues first five pound notes; 1865, on news of Lincoln assassi- Get back on Target. Zero in on your customer's interest. Put your logo in Paper Money here, nation, Greenback dollar falls from 688 to 60c; 1893, Treasury suspends issue of Gold Certificates as gold reserve galls below $100 million legal minimum; Apr. 16 1838, Boston banks begin to resume specie payments; 1915; Rhode Island Senator Nelson AV. Aldrich, co-author of Aldrich-Vreeland national currency act, dies; Apr. 17 1810, Printer Andrew Maverick patent copper plate ink roller; 1871, D.K. Bissell arrested in Cleveland charged with passing counterfeit National Bank Notes; Apr. 18 1786, Bank of New York emits four pound notes under authority of State Legislature; 1896, printing of Sereis 1896 SI Educational Note commences; Apr. 19 1887, Canada Bank Note Co. employs Fred Smillie; 1987, ANA selects "Currency Catching attention = catching ca$$$h! Readers flock to this page; and see your logo. Worth Noting" as national Coin \ Veek theme to honor BEP's 125th anniversar y; Apr. 20 1799, subscription book of Bank of Manhattan Co. opens; 1864, Anthony Berger takes photo of Lincoln engraved for 50-cent Fractional Currency by Charles Burt; Apr. 21 1777, Continental Congress okays appointment of additional currency signers at Treasurer Michael Hillegas' discretion; 1919, Victory Liberty Loan offers S4.5 billion; Apr. 22 1899, Lincoln currency, engraved and other portraits exhibited at New York's Grollier Club; 1956, Arkansas Gazette reports success of local merchant Matt Rothert's cam- paign to place motto "In God We Trust" on all future U.S. paper money issues; Apr. 23 1564, traditional date of birth of playwright William Shakespeare, who appears on New York obsoletes and Bank of England notes; 1779, George Washington writes John Jay, President of the Continental Congress, about currency depreciation: "a wagon load of money will scarcely purchase a wagon load of provisions"; Apr. 24 1872, John lay Knox begins tenure as Comptroller of Curency; 1930, SPMC member Nelson A. ;Buz" Rieger born; 1959; BEP Director James Wilmeth dies; Apr. 25 1865, U.S. Treasury financial agent lay Cooke publishes flyers to solicit sales of 7-30 bonds; 1987, ground broken for BEP Western Printing Facility at Fort Worth, TX; Apr. 26 1965, a Fractional Currency article by highschooler Fred Reed is featured in Linn's Weekly Stamp Neivs; 1997, Currency Club of Long Island established; Apr. 27 1862, Union vessels seize carge ship Bermuda with special CSA watermarked curren- cy paper aboard; 1873, New York prohibits handbills imitating U.S. Notes, NBNs; Apr. 28 1866, NY Times reports trial of Richard Muhlstadt for passing counterfeit 50-cent at orange stand; 1937, printing A-B Series 1935 SCs on experimental paper ceases; Apr. 29 1858, Bald, Cousland & Co. joins ABNCo; 1955, Secret Service mounts special coun- terfeit exhibit at Central States Numismatic Society Detroit Convention; Apr. 30 1753, LA Free Banking Act; 1894, Coxey's Army demands $500 million Greenbacks; 51.3 /////7 //7//// //7".//////„./ — „ ) //' rrx-vg arid; savivg•i) March/April • Whole No. 248 • Paper Money through the expedients of debtor relief legislation and "states' rights." The foremost proponent of repudiation and of the doctrine of states' rights was Jefferson Davis, then a U.S. Senator from Mississippi, and, later, the (only) President of the Confederate States of America. Figure 9 (above) is of a $5 note of the Mississippi & Alabama Rail Road Company. The company, like many other development projects in the state, was imbued with banking powers, and was popularly known as "The Brandon Bank." Indeed, while the Mississippi & Alabama RR Co. got heavily involved in banking, there appears to be no evidence that it got into railroading. The Brandon Bank lasted from 1836 to 1840, in which year it failed, along with all 31 other banks in the state. Upon examination, the Brandon Bank was found to be practically devoid of assets, and the market value of its notes fell to nine cents on the dollar. When the Marshall went to arrest the president of the bank, he and two other directors fled the state for Texas. They took with them 300 Negroes and an unnamed number of whites. Fifty of the Negroes and ten of the whites in this little army were armed. A local paper reported, "The Marshall went in pursuit, but could not overtake them." The note indicates that the Brandon Bank would pay the bearer on demand at the Girard Bank in Philadelphia, Pennsylvania. The idea is that the cotton financed by the bank would fetch exchange in the international market, creditable at the Girard Bank, sufficient to redeem the notes issued by the bank. To be sure, the Girard Bank is not represented as a guarantor of the note, only as an agent for its redemption. The provision for remote redemption indicates that the Brandon Bank possessed little if any specie. Thus, when the cotton market collapsed, the Brandon Bank (along with every other bank in the state) also collapsed. This note of the Brandon Bank features two portrait vignettes (of the same person), and, a prominent allegorical vignette of a woman in form-reveal- ing- clothes. The woman appears to be from the patrician class of classical Rome, a person who would have had considerable civil rights including the rights to own/trade property, to divorce, and to have custody of children. aniiiiitz • -azialik,ascaratc-r—:_ ,- ;114#prongw. • 'Ilk wo....41;15 7.! f ;"( II' Cif Sj, ,D i)r ,-2,00..7=;:atmLlu) ct , • :„ • • / • ,/,:// /4;;;*/: Figure 10 (above) is of a ten-dollar note of the Vicksburg Water Works 130 We are proud to continue the numismatic legacy begun in 1933 Specializing in Quality and Rare U.S. Currency U.S. Large Size Fractionals U.S. Small Size Nationals National Gold Bank Notes Kagin's -- an established name for conserva- tive grading of quality notes. We specialize in building U.S. currency collections of premium quality and rare notes. Favorable terms to suit your individual needs. 98 Main Street #201 Tiburon, CA 94920 1-888-8KAGINS www.kagins.com You are invited to visit our web page www.kyzivatcurrency.com For the past 8 years we have offered a good selection of conservatively graded, reasonably priced currency for the collector All notes are imaged for your review National Bank NoteS LARGE SIZE TYPE NOTES SMALL SIZE TYPE NOTES SMALL SIZE STAR NOTES OBSOLETES CONFEDERATES ERROR NOTES TIM KYZIVAT (708) 784-0974 P.O. Box 451 Western Sprints, IL 60558 E-mail tkyzivat@kyzivatcurrency.com Paper Money • March/April 2007 • Whole No. 248 United States Paper Money special selections for discriminating collectors Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type Error Notes Small Size Type National Currency Star or Replacement Notes Specimens, Proofs, Experimentals Frederick J. Bart Bart, Inc. website: www.executivecurrency.com (586) 979-3400 PO Box 2 • Roseville, MI 48066 e-mail: Bart@executivecurrency.com BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Fed- eral Reserve Notes, Fractional, Conti- nental, Colonial, Obsoletes, Depres- sion Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List . . . or .. . Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: lhorwedel@insightbb.com website: horwedelscurrency.com 131 March/April • Whole No. 248 • Paper Money & Banking Company. It might be presumed from the name that the company was a water works company that was imbued with banking powers. On the other hand, the fall of the market value of the notes of this bank to 30 to 40 cents on the dollar upon the failure of the company, as reported in the New Orleans Commercial Bulletin indicates that the company was little more than a money manufacturer. The note of the Vicksburg Water Works Company is busy, with a por- trait vignette of George Washington on the right side, a small vignette of a railroad on the left side, and somewhat larger vignettes of a water fountain in the left-center, and of a semi-nude women in an allegorical setting in the right- center. This woman is Leda, Queen of Troy, and the eagle is Zeus. Leda was (of course) seduced by Zeus, and subsequently gave birth to the beautiful Helen of Troy. To complete the myth, Leda bedded her husband the same evening she had her rendezvous with the winged adulterer, so he would not suspect that he had been cuckolded. Nudity and Failing Banks In order to determine if nudity and sexual intrigue was more often used by banks that could be suspected of fraud, a sample of 128 bank notes was iden- tified, eight from "failing" banks, and eight matching "honest" banks, from each of eight states (Georgia, Indiana, Maine, Maryland, New Jersey, Ohio, Pennsylvania and Rhode island). These eight states all met the following con- dition: the notes of at least eight pair of matching "failing" and "honest" banks could be obtained from either "obsolete bank note" catalogs or internet sources. For four states (Indiana, Maine, Maryland and Rhode Island) obsolete bank note catalogs were utilized. For the state of Georgia, a single internet source, http://www.davidmarsh.com/, was utilized. This source is effectively a catalog. For three states (New jersey, Ohio and Pennsylvania), a variety of internet sources, including www.ebay.com auctions of obsolete bank notes, were utilized. Having identified the sample, the notes were examined for the following: (1) females in form-revealing clothing (i.e., revealing the under-curve of the female breast), (2) females in low-cut clothing (i.e., revealing the upper-curve of the female breast), (3) females with both breasts revealed, (4) females with one breast revealed, (5) females with a bare back, and (6) a male appears to be seducing a female, the female being dressed in form-revealing clothing. In addition, an index was constructed. In the index, a note is given a score of 100 if the note features a female with both breasts revealed; of 50 if the note features a female with one and only one breast revealed or a bare back or a male appears to be seducing a female, the female being dressed in form-reveal- ing clothing; and, zero otherwise. Descriptive statistics for the sample are pre- sented in Table 1. Table 1. Descriptive Statistics for Bank Notes Issued during the Late Antebellum Period. The first six columns give the percentage _frequencies for each condition, and the last column gives the average scores for the index. Form- Low- Bare One Both Seduc- Index revealing cut back breast breasts don clothing clothing bare bare Notes of 64 Honest Banks 31 6 2 8 3 0 8 Notes of 64 Failing Banks 22 12 3 14 14 15 26 132 Paper Money • March/April 2007 • Whole No. 248 133 From these descriptive statistics, it is clear that both failing and honest banks featured a lot of nudity on their notes, and that the fraudulent banks fea- tured more nudity. Statistical analysis indicated that the difference is signifi- cant. Since female beauty was depicted, in various forms, on the bank notes of conservatively-managed banks during the period, it should not be surprising that it was also depicted on the bank notes of failing, and possibly fraudulent banks. That female beauty was used more extensively on the bank notes of fail- ing banks could simply reflect its eye-catching quality. On the other hand, it might be that the artwork depicted on broken bank notes was revealing in more than one way. References Durand, Roger H. 1981. Obsolete Notes and Scrip of Rhode Island and the Providence Plantation. Society of Paper Money Collectors, 1981. Kelly, Denwood N., Armand M. Shank, Jr., and Thomas S. Gordon. "A Catalogue of Maryland's Paper Money, 1790-1865, in Money and Banking in Maryland. Baltimore, MD: Maryland Historical Society, 1996, pp. 75- 525. Leggett, L. Chandler. Mississippi Obsolete Paper Money and Scrip. Society of Paper Money Collectors, 1975. Wait, George W. Maine Obsolete Paper Money and Scrip. Society of Paper Money Collectors, 1977. Wolka, Wendell A., Jack M. Vorhies and Donald A. Schram. Indiana Obsolete Notes and Scrip. Iola, WI: Krause Publications for the Society of Paper Money Collectors, 1978. INSURANCE ,..ocrehyecPoalipeecrtor Your homeowners insurance is rarely enough to cover your collectibles. 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Box 1200-PM • Westminster MD 21158 E3-1141W11111 E-Mail: info Winsureeollectibles.com VISA Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 More Info? Need A Rate Quote? Visit: www.collectinsure.com See the online application and rate quote forms on our website THE PRESIDENT DIRECTORS & CO OF rPOTOMAC RIVER BANK , Y"-"'"t- //// /,/ // //r. ///e'///,' r (17:2 r L. ( 1.904sigw0 4:: 11, 1..011,41,v, 134 March/April • Whole No. 248 • Paper Money A Trial Listing of Raised, Altered, Counterfeit & Otherwise Fraudulent Obsolete Currency (Continued from Paper Money, Sept/Oct 2005) By J. Roy Pennell Jr. Citizens' Bank, Middletown, Delaware 1. $1 Vig. females, eagles, shield, &c. CTBNL Dec. 1861. Delaware City Bank, Wilmington, Delaware 1. $10 Altered. Vig. grow of females with grain, cars, ship &c.; female portrait on right, with 10 above and below it; a female with flag on left. CTBNL Dec. 1857. 2. $50 Same as above. 3. $5 Vig. man plowing with yoke of oxen, portrait of Washington on the right, a bear on the bottom. Well done. CTBNL June 1855. 4. $10 Vig. locomotive and cars, boy, and sheaf of grain on right end. CTBNL Feb. 1858. Farmers Bank of the State of Delaware 1. $5 Vig. a female sitting; female standing on the right end; man and two V's on left end. Poor affair. CTBNL July 1856. Bank of Newark, Newark, Delaware 1. $3 Altered. Vig. female reclining, Safe & c.; female on right end; blacksmith on left end. CTBNL Sept. 1858. Mechanics Bank, Wilmington, Delaware 1. $5 Vig. female inside a frame, Washington and horse on right, bank building on left. Bank of Wilmington & Brandywine, Delaware 1. $10 Altered from $1. Vig. sailor, nautical instruments, etc. CTBNL Aug. 1856. 2. $20 Same as above. 3. $10 Vig. teacher and child, mill, helmeted head on each side with TEN on it; man and vessel on right end. Imitation of genuine. CTBNL Feb. 1859. Bank of Commerce, Georgetown, D.C. 1. $10 Vig. steamship and vessels at sea, oval male portrait, &c. CTBNL Feb. 1865. Commercial Bank, Georgetown, D.C. 1. $3 Fraud. CTBNL July. 1856. Potomac River Bank, Georgetown, D.C. 1. $2 Notes are fraud.. CTBNL July 1856. Paper Money • March/April 2007 • Whole No. 248 135 * * * * * * * * * * * * * * * * ** * * * ** * * NUMISMANIA RARE COINS * P.O. BOX 847 -- Flemington, NJ 08822 * * Office: (908) 782-1635 Fax: (908) 782-6235 * * Jess Lipka, Proprietor * * * * *f,' - ' isil,,,,Algra. ---,t7k *' ‘:(11311:IPP'-u2i ----77; 227.86G_L-__-- * * h), -------137K111131*-. - 1 *1 40.14%4444, ** . * -,,,d,_ 27: Ath61,44144N --7-- * 1/1,,,I,, RANgttit).$/i/ :'/ VO * 1 ("7: ....4 '-. * * i0 0 1, WIZOITECSENtXtaii CrIMMEMOZZetk,4 ** * * * * * * TROPHY NATIONALS ** * Buying All 50 States, Territorials, Entire State and* * * Regional Collections, Red Seals, Brown Backs, * Statistical Rarities, New Jersey.* * * Also Buying Coin Collections and Type * * * * NO DEAL TOO LARGE! ** ********************** * * ** *NOBODY * ** ** *PAYS MORE ; jitiat T t r v1/2////TWO D-KIARS // /./ ./ ///7 / / ///// ir I ( ,,„1, , rf:; GE1V1-GIFY ,T.D.E§1 0-1k410 OR. TAU VA V v' 1 136 March/April • Whole No. 248 • Paper Money Farmers & Mechanics Bank, Georgetown, D.C. 1. $10 Altered from broken. Vig. a female, cattle, grain &c., large figure 10 with steamboat and cars on the left, figure 10 on right. Unlike genuine. CTBNL Mar. 1854. 2. $5 Vig. man plowing on left upper end; two horses and two men on right. Unlike genuine. CTBNL July. 1856. Bank of Fulton, Georgia 1. Beware of lOs and 20s on the Bank of Fulton, Georgia, as a large number have been stolen, and the signa- tures forged. Better refuse all lOs and $20s. CTBNL Feb. 1858. Georgia Railroad and Banking Co. 1. $50 Vig. three faces, the middle one very indistinct; in the medallion head on right end and the left eye is blurred; Indian on left end and dies on each upper corner. Poorly engraved.. CTBNL Feb. 1859. Bank of the State of Georgia 1. $50 Vig. female holding a cleaver in her right hand, her left resting in her lap, at her feet a sheaf of wheat and scythe; locomotive crossing a bridge in the distance. CTBNL June 1855. Agricultural Bank, Marion, Illinois 1. $2 Vig. Liberty and Justice leaning on a rock with two letters II, in front; on top of the rock is a sheaf of grain; Figure 2 each side of the vig.; on right end, TWO, female, TWO; on left end, TWO, three memales, TWO. CTBNL Apr. 1860. Bank of Belleville, Illinois 1. $2 Vig. drove of cattle drinking; two females, grain and sickle on the right. Exact imitation of the genuine. CTBNL Jan. 1857. Belvidere Bank, Illinois 1. $5 Altered from Is. Vig. Indians, a steamboat in the distance; a female, building &c. on the lower left corner. CTBNL June. 1855. Bank of Bloomington, Illinois 1. $5 Altered. Vig. horses and man. CTBNL Feb. 1858. 2. $10 Same as above. Commercial Bank, Chicago, Illinois 1. $5 Altered from ls. Vig. female, scales, cupid &c.' female on each end. CTBNL July 1856. Marine Bank, Chicago, Illinois 1. $5 Altered from ls. Vig. 3 sail vessels, sailor o left end; FIVE DOLLARS is in red letters across the bill. CTBNL June 1855. 2. $10 Vig. harvest scene, man on horse, dogs &c.; female and shield on right end; red tin. Unlike genuine. CTBNL Feb. 1859. Bank of Ottawa, Illinois 1. $5 Altered Is. The alered bill has FIVE in red letters under the title of the bank; the bank has no red letters on its bills. CTBNL June 1855. Bank of Pike County, Illinois 1. $10 Altered. Vig. train of cars, mountains &c. CTBNL Feb. 1858. Deal with the Leading Auction Company in United States Currency Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 MON Paper Money • March/April 2007 • Whole No. 248 137 Currency Auctions If you are buying notes... You'll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful "grand format" catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) S50 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 •B ea u t /Pr I 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 e strongly recommend that you send your material \la LISPS Registered Mail insured for its Pull 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. CXnlyht Currency Auctions 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - sunnortO, Imknight.com Whether you're buying or selling, visit our website: www.lynknight.com 138 March/April • Whole No. 248 • Paper Money Rock Island Bank, Illinois 1. $10 Altered from smaller denom. This bank has no notes larger than 5s. CTBNL Mar. 1854 2. 550. Same as above. State Bank of Illinois, Shawneetown, Illinois 1. $5. Vig. figure 5 with naked boy and cornucopia on each side; female, hammer, anvil, boat, &c. on left upper corner; portrait of a female on right end. CTBNL Sept. 1858. State Bank of Illinois 1. 55 Altered from a broken Washington affair. Vig. three females, the center one holding a liberty cap in left hand; head of Washington, with 5 above on right end. Hold them to the light. CTBNL June 1855. 1. $10 Altered from Is. Vig. horse-shoeing; cars on the right. CTBNL Jan. 1857. Southern Bank, Illinois, Grayville, Illinois 1. 55 Altered from ls. Vig. shearing sheep. CTBNL Jan. 1856. 2. 55 Vig. train of cars, viaduct, river &c.; female on lower left corner. Imitation of genuine. CTBNL Feb. 1858. Central Bank, Peoria, Illinois 1. $10 Altered from ls. Elgin Ban, Illinois 1. $10 Altered from Is. This bank has no 10s. CTBNL Mar. 1854. Edgar County Bank, Paris, Illinois 1. $10 This bank has none. CTBNL Feb. 1859. Farmers Bank, Chicago, Illinois 1. $10 Altered from genuine Is. Vig. female reclining on a bale of goods; female on the lower right corner, TEN on lower left corner; X on the upper right courner. CTBNL July 1854. Farmers & Traders Bank, Charleston, Illinois 1. $10 Altered from Is. Vig. tview of a wheat field; head of Washington on right end.. CTBNL June 1855. 2. $10 Altered from 2s. Vig. sailor, barrels, &c.'; ship at sea in the distance; President Pierce on right end. CTBNL July 1856. Grayville Bank, Grayville, Illinois 1. $10 Vig. train of cars; Henry Clay on right end; medallion on left. CTBNL July 1856. Hamilton County Bank, Illinois 1. $10 Raised from 2s. Vig. corn harvest on lower right corner; man horse, and dog on left lower corner; TEN in red across bottom. CTBNL Feb. 1858. Bank of Hutsonville, Illinois 1. $10 Raised from a lower denomination. Vig. harvest scene; squaw and papoose on lower right corner. CTBNLSept. 1858. 2. $10 Altered from 2s by the pasting operation. CTBNL Dec. 1857. International Bank, Illinois 1. $5 Photographed. Vig. horses, well and sheep; on right end 5, State arms, 5; on left end female and 5. CTBNL Apr. 1860. Mechanics Bank, Harden, Illinois 1. 55 Photographed. Vig. horses, well and sheep; on right end 5, State arms, 5; on left end female and 5. CTBNL Apr. 1860. Brookville Bank, Brookville, Illinois 1. $1 From the genuine plate with counterfeit signatures, in circulation. CTBNL July 1856. 2. $2 As above. 3. $5 As above. Bank of Albany, Indiana 1. $5 Altered from ls. Vig. horses &c; a female on right end. CTBNL Mar. 1854. 2. $20 Altered from genuine Is. Vig. a female seated holding a milk pail, cattle, &c.; locomotiuve on lower left corner; 20 on each upper corner. CTBNL July 1854. Commercial Exchange Bank, Terre Haute, Indiana 1. $5 Purporting to be on the Commercial Exchange Bank of Terre Haute, Ind., Leonard Bradley, Pres., John Dunham, Cash.; has made its appearance. Vig. two females leaning on a Bank, with water, ships, town, rail- way and manufacturers in distance. Agricultural figures in each end. CTBNL Feb. 1859. Drovers Bank, Indiana 1. $1 Fraudulent, purported to be on the Drover's Bank, Indiana. There is no such bank. CTBNL Apr. 1860. Paper Money • March/April 2007 • Whole No. 248 139 $$ money mart Paper Money will accept classified advertising on a basis of 15t per word (minimum charge of $3.75). Commercial word ads are now allowed. Word count: Name and address count as five words. All other words and abbrevia- tions, figure combinations and initials count as separate words. No checking copies. 10% discount for four or more insertions of the same copy. Authors are also offered a free three-line classified ad in recognition of their contribu- tion to the Society. These ads are denoted by (A) and are run on a space available basis. Special: Three line ad for six issues = only $20.50! Happy New Year! IT HAS STARTED OFF WITH A BANG!!! Well, 2007 started off with a real BANG! FUN was its usual great experience and it showed that our hobby did not lose any steam over the holidays. Prices were up; demand was also up, and anticipations ran high. Our new SPMC educational program was very well received and I have heard a lot of good reports about how well Wendell did with the new program. We hope to take that to ANA, Memphis and other shows, totally dependent on his schedule. If you attended his presentation, let us know how you liked it. Now that we are in the New Year, how many of us made New Year's resolutions and have already broken them? I would imagine that most of us made one or two that dealt with losing weight, eating bet- ter, exercise, etc. and they are now history. I have a challenge for you. Make a new resolution for the rest of the year. Starting right now, resolve to do one thing better tomorrow. Since tomorrow never comes, this will put you on a track to be constantly improving. On one of those morrows, address the hobby. Make a point this year to do something to make it better and to make an impact on the hobby. To that end, I resolve that the board will work to continually improve and make the society and the hobby ever better. The first thing you can see is that our website has been upgraded. There will be even more changes with it soon and hopefully it will become our major communication vehicle for updat- ed information with you, our members. Also during the year, I have outlined a set of priorities for the board that will have as a priority better and more timely communication. It will also weigh heavily on getting more of the members involved. I will soon be contacting some of you to help with deciding on award recipients, serve on committees, serve as regional representatives and helping us investigate and delve down into what the society needs, i.e. how to increase membership, what programs are needed, etc. If you are interested in helping us out in some capacity, contact me and I will find something you can do to positively impact the society and the hobby. Until next time—resolve with me to make each day better in 2007! Benny INTERNATIONAL ENGRAVER'S LINE, World engravers & their work, 392 pages, 700 ill., most in color, $74 incl. post. Premium ed. with signed notes $140. Gene Hessler, PO Box 31144, Cincinnati., OH 45231 or engraversline@aol.com 1246) BOOKS ON U.S. & FOREIGN PAPER MONEY, Securities, Obsoletes, Bank Histories, Nationals, Small/Large Notes, etc. Lists available. Sanford Durst, 106 Woocicleft Avenue, Freeport, NY 11520 Fax 516-867-3397 e-mail: sjclbooks@verizon.net (246) BOOKS: OFFERING WISMER'S Obsolete NY $20; Pennsylvania $12, Ohio $12, Pennell's N.C. $10, Bowen's Michigan Notes/Scrip (HC) $45, Slabaugh's Confederate States Paper Money (updated Doug Ball) $12 and many others.Write!! Add $3.00 postage/book. Sanford Durst, 106 Woodcleft Avenue, Freeport, NY 11520 (246) MEXICO BANKNOTES WANTED. Prior to 1915 with IMPRINTED or AFFIXED revenue stamp on reverse. Bob Bergstrom, 1711 Driving Park Road, Wheaton, IL 60187 USA bobanne@sbcglobal.net (2441 COLLECTOR NEEDS Annual Report of the Comptroller of the Currency 1863 thru 1935. Ron Horstman, 5010 Timber Lane, Gerald, MO 63037 (A) WASHINGTON STATE NATIONALS WANTED. Seeking large-size WA nationals from Aberdeen, Hoquiam, and Montesano. Chris Flaat, ctlaat@msn.com, 425-706-6022 (244) KANSAS NBNs WANTED . Goocllancl :14163, Olathe #3720, Pleasanton #8803. A.R. Sandell, Box 1192, Olathe, KS 66051 (246) COLLECTOR BUYING AND SELLING published U.S. National Bank Histories and other publications! Offer what you have; send your "Want List." Bob Cochran, PO Box 1085, Florissant, MO 63031 (PROUD SPM- CLM69) (252) AUTHORS RECEIVE FREE CLASSIFIED AD. Write now (PM) LINCOLN PORTRAIT ITEMS. Collector desires bank notes, scrip, checks, CDVs, engraved/lithographed ephemera, etc. with images of Abraham Lincoln for book on same. Contact Fred Reed at P.O. Box 11 81 62, Carrollton, TX 75051-8162 or freed3@airmail.net (252) HUNDREDS OF PAPER MONEY MAGAZINES FOR SALE from before I became Editor back to 1960s & 1970s. I bought these filling sets. Fill your needs now. E-mail me freec13@airmail.net & I'll sell you what I got! (252) WANTED. Canadian Chartered Bank Notes. Wendell Wolka, PO Box 1211, Greenwood, Indiana 46142 (246) WANTED. OBSOLETES AND NATIONALS from New London County CT banks (Colchester, Jewett City, Mystic, New London, Norwich, Pawcatuck, Stonington). Also 1732 notes by New London Society United for Trade and Commerce and FNB of Tahoka Nationals ;8597. David Hinkle, 215 Parkway North, Waterford, CT 06385. (248) OLD PAPER MONEY MAGAZINES FOR SALE! Great reading & research material. Five different copies from the 1960s and 1970s only $50. Multiple groupings available. e-mail first to Fred Reed at freed3@airmail.net (252) March/April • Whole No. 248 • Paper Money140 ti4 GoOctivr STATE 01' INDIANA 2Y-,71 Currency Conservation & Attribution LLC - 4 To learn more about this holder: go to www.csacca.com email us at info@icsacca.com or mail us at CC&A LLC, P.O. Box 2017, Nederland, CO 80466 CC&A The Best of Clas( (Confederate Currency Hoick: . Citizens Bank of Gosport, Indiana 1. Phantom Bank. Various denominations. A. Brown Pres.; Isaac E. ohnson Cash. We know of no such bank. CTBNL Dec. 1857. Canal Bank, Evansville, Indiana 1. $2 Altered. Vig. Indian and squaw in canoe; female with 2 on right end; two girls on left end; red tint. CTBNL Feb. 1859. Gramercy Bank, Indiana 1. $5 Altered from Is. Vig. Gramercy Hotel, N>Y>; two females with grain &c. on the right end; a man felling trees on left end. CTBNL June 1855. Bank of Indiana, Indiana 1. 53 Altered from Is. 2. $5 Imitation. Vig. female, sheep, house, trees &c.; right end, 5, male portrait. Well done. CTBNL Jan. 1865. Kentucky Stock Bank, Indiana 1. $5 Imitation. Vig. state arms, 5, each end. CTBNL Feb. 1865. Public Stock Bank, Indiana 1. $20 altered from ls. Vig. female, spread eagle and shield; female on right end; portrait on left lower corner. CTBNL July 1854. To be continued MACERATED MONEY Wanted information on U.S. Chopped up Money. RARE, FREE MASCERATED POSTCARD FOR USEFUL INFORMATION Who made the items, where sold, and anything of interest. Also I am a buyer of these items. Top Prices paid. Bertram M. Cohen, 169 Marlborough St., Boston, MA 02116-1830 E-mail: Marblebert@aol.com WANTED AUTOGRAPHS Original signatures of famous histori- cal people on • currency • letters • photos • documents • checks , SERIOUS BUYER! "PAYING TOP DOLLAR' ERROR CURRENCY LOW SERIAL & SOLID NUMBER SMALL SIZE NOTES SEND FOR OUR FREE PRICE LIST RAY ANTHONY P.O. Box 10365 Portland OR 97296 503-226-2226 ANA LIFE MEMBER 2247 MEMBER MANUSCRIPT SOCIETY PROFESSIONAL AUTOGRAPH DEALERS ASSOCIATION • Buying & Selling Quality Collector Currency •Colonial & Continental Currency •Fractional Currency •Confederate & Southern States Curren- cy • Confederate Bonds •Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polis 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Jpolis7935@aol.com Member: SPMC, FCCB, ANA Paper Money • March/April 2007 • Whole No. 248 Michele Orzano promoted to paper money magazine editor S PA/IC MEMBER AND MEDAL OF MERIT WINNER Michele Orzano has been promoted to Editor of COhl Wo•ld's Paper Money Values. Orzano had served as associate editor of the magazine. Launched on newsstands in November 2005, Paper Money Values is the first, full-color slick magazine devoted exclusively to paper money collecting. It recently switched from quarterly to bimonthly frequency. Orzano has coordinated Coin World's coverage of paper money for the past 13 years. She joined Coin World as a staff writer in April 1985. In addition to general reporting she has specialized in legislative coverage of hobby-related issues. In February 1989 she was promoted to design/copy editor and given responsibility for editing all stories as well as the layout/design of the pages of weekly tabloid. In 1995 Orzano was promoted to senior staff writer. In 1999 she began writing "The State Quarters" column for Coin World and will continue the column until the State quarter dollars program ends in 2009. During her 30-year career as a professional journalist, she has gained experience in a number of assignments including reporter, photographer, sports editor, sports columnist, proof- reader, copy editor and designer. During that time, Orzano has won numerous awards for writing and page design in state and nationwide communica- tions competitions, incluing those of the Numismatic Literary Guild. WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 6778 San Mateo, California 94403 (650) 458-8842 Fax: (650) 458-8843 E-mail: BillLitt©aol.com Member SPMC, PCDA, ANA 141 142 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX SPMC NEW MEMBERS 10/03/2006 These membeships expire 12/31/2007. 12150 Gerard Smith (C), Website 12151 O.A. (Duke) Griffey III (C), Website 12152 Matthew S. Brody (C),Website 12153 Thomas Tomaszek, PO Box 11184, Cedar Rapids, IA 52410-1184 (C, Nationals, Obsoletes, Fractional), Website 12154 Ken Ellingson, PO Box 363366, North Las Vegas, NV 89036-7366 (C), Torn Denly 12155 Thomas Gurtowski, 7006 16th NW, Seattle, WA 98117-5548 (C, $2 Notes), Website 12156 Michael D. Snyder (C), Rob Kravitz 12157 Henry Mitchell (C), Wendell Wolka 12158 Troy Arthur, 7657 Southern Oaks Dr, Springfield, VA 22153 (C, $1 Notes Large & Small), Torn Denly 12159 Tony Lenamon (C), Wendell Wolka 12160 Robert E. Lee (C), Torn Denly 12161 C.L. Van Diviere (C), Frank Clark 12162 Ernest Larry Jr, General Delivery, 1900 W. Oakland Park Blvd, Fort Lauderdale, FL 33310 (C & D), Torn Denly 12163 Arvel G. Bruce, 1107 Rattler Gap, San Antonio, TX 78251-4081 (C, MPC, Confederate, Japanese), Tom Denly 12164 James M. Adams, 8015 Escalon Ave, Pasadena, MD 21122-1280 (C, Obsoletes, Civil War), Wendell Wolka 12165 Tony Barreiro, C/O Artloan Financial, 2 Henry Adams St #M7, San Francisco, CA 94109 (C, World, Error Notes), Website 12166 George Fitzgerald, 6311 Sawmill Woods Dr, Fort Wayne, IN 46835-8718 (C, Nationals, MPC, $2 Notes, Wendell Wolka 12167 Jack Hunter (C),Wendell Wolka 12168 Ivan Davidson, 3226 Austin Place, Colorado Springs, CO 80909 (C), Tom Denly 12169 David Sones, PO Box 740, Blue Ridge, GA 30513 (C, Georgia, Mississippi Obsoletes, Confederate, Small Size US), Website 12170 Charles William Spurgeon (C), Tom Denly 12171 Cliff, Lowy (C), Allen Mincho 12172 Richard Gvzegorczyk (C), Wendell Wolka 12173 David Hunsicker (C), Wendell Wolka 12174) Jay Feldman (C) Wendell Wolka 12175 Brad Welles (C), Wendell Wolka 12176 David Klinger (C), Wendell Wolka 12177 Peter J. Periconi (C), Allen Mincho 12178 Laura A. Kessler, PO Box 2513, East Peoria, IL 61611 (C & D, US Large & Small, Errors, Stars, Nationals, Misc.), Website 12179 John H. Wold (D), David W. Moore 12180 Peter F. O'Connell, (C), Frank Clark 12181 Greg Smith (C), David W. Moore REINSTATEMENTS 3192 Howard A. Daniel III, PO Box 989, Deltaville, VA 23043-0989 (C), Wendell Wolka March/April • Whole No. 248 • Paper Money 10900 Priscilla Rhoades, (C) 10939 George Cuhaj, PO Box 433, Iola, WI 54945 (C), Wendell Wolka SPMC NEW MEMBERS - 11/05/2006 These memberships expire 12/31/2007. 12182 John W. Smith, 166 Duclala Way, Loudon, TN 37774- 6806 (C, $2 Notes, Errors, Obsoletes), Tom Denly 12183 Eric Justice, PO Box 541, Galloway, OH 43119, (C, Errors, Confederate, Obsoletes), Jack Levi 12184 Peter Ambrose (C), Frank Clark 12185 Charles Grose, PO Box 7288, Chesapeake, VA 23321 (C & D, Obsoletes & Confederate), Website 12186 Julie Nicolai, 1501 Swallow Dr, St. Louis, MO 63144 (C, Obsoletes, Fractional, Confederate, Nationals), Paper Money Values 12187 Kathy M. Squadrito, (C), Tom Denly 12188 Alan L. Cline (C), Lowell Horwedel 12189 Murray L. Landers, 7790 Granville Dr, Tamarac, FL 33321 (C, FRNs, Nationals), Tom Denly 12190 Neil Brennecke, 305 Grand Ave, Raleigh, NC 27606 (C, 19th Cenniry Silver Certificates), Wendell Wolka 12191 Gia Carrozzi (C), Torn Denly 12192 Terry Brennan, 1054 Robin Hood Dr, Arlington, WA 98223 (C, Washington Nationals, US Large), Lowell Horweclel 12193 Richard Hopp, 4936 Wortser Ave, Sherman Oakes, CA 91423 (C, Bail Bonds & Paper Related Collectibles) Website 12194 Patrick T. Antonette (C), Benny Bolin 12195 Charles B. Bond, Spc 123, 321 W. North Ave, Lompoc, CA 93436-4096 (C, US & World), Frank Clark 12196 Matt Grimes (C), Torn Denly SPMC NEW MEMBERS - 11/30/2006 These memberships expire 12/31/2007. 12197 Gerald Glasser, PO Box 206, Garwood, NJ 07027 (C, Notes Depicting Lincoln), Scott Lindquist 12198 Jeff Zemke (C & D, Obsoletes), Wendell Wolka 12199 Timothy Sloan (C), Frank Clark 12200 John Trustey (C), Website 12201 Peter S. Browne, Jr., 82 Caribbean Rd, Naples, FL 34108-3401 (C, Obsoletes, $2s, MPC), Frank Clark 12202 David H. Frank, 777 S. New Ballas Rd, St. Louis, MO 63141 (C, World, POW, Ghetto, Concentration Camp Scrip), Robert Drew 12203 Scott Rinker, PO Box 39, Timnath, CO 80547 (C, US), Lowell Horwedel 12204 Paul Kubala, 3609 State Route 14, Rootstown, OH 44272 (C, Ohio Nationals), Lowell Horwedel 12205 Stickney Forest View Library District, 6800 43rd St, Stickney, IL 60402-4400 (C), Frank Clark 12206 Don Roberts, PO Box 635, Shawnee Mission, KS 66201 (D), David Moore 12207 Frank S. Renberg (C), Website 12208 Melinda Berns, PO Box 1304, Scappoose, OR 97056 (C, US), Website 12209 Paul Davis (C), Website 12210 Gregory K. Branan, (C), Allen Mincho 12211 Leonard Ballas, 241 Detroit Ave, Staten Island, NY 10312 (C). Paper Money Values 12212 Howard Russo, 257 Beach 116th St, Rockaway Park, NY 11694 (C, Nationals), Wendell Wolka 12213 Jeffrey R. Paunicka, 38 Diana Rd #538, Portage, IN 46368 (C & D, ///41414 iti agliotat Itan ///: tiro 2-3 ('), ( Paper Money • March/April 2007 • Whole No. 248 143 St. Louis Welcomes You to the 22" Annual National and World Paper Money Convention PCDA Thursday thru Saturday, November 15-17, 2007 PCDA (FREE ADMISSION) St. Louis Airport Hilton Hotel, 10330 Natural Bridge Road, St. Louis, MO Rooms $99.00 Call (314) 426-5500 Rate Code PRO-1 All Paper Money Bourse Area Lyn Knight Auction Society Meetings Educational Programs Complimentary Airport Shuttle Show Hours: Thursday 9am-noon (Professional Preview) $50 fee Public Admission Noon-6pm Friday 10am-6pm Saturday 10am-6pm Bourse Applications: Kevin Foley P.O. Box 573 Milwaukee, WI 53201 414-421-3498 Email: kfoley2@wirr.com And Ron Horstman P.O. Box 2999 Leslie, MO 63056 FUTURE DATES: October 15-18, 2007 144 March/April • Whole No. 248 • Paper Money Notes on Bank Note Engravers & Artist Attributions By Mark D. Tomasko F RED REED'S ARTICLE ON PORTRAITS OF ABRAHAM LINCOLN ("DID ABRAHAM Lincoln's Icon Image on Money Influence his Public Perception?") in the Sept/Oct issue of Paper Money suggested to me that it may be worthwhile clarifying some engraver information appearing in recent months and sharing an unusual pair of vignettes depicting a famous engraver's family. Along the way I'll cover some interesting aspects of bank note engraving. Confirming precisely who engraved which portraits and vignettes has never been easy. Gene Hessler is the pioneer in this effort, and he spent time with both Bureau of Engraving and Printing records and American Bank Note records, in addition to having much contact with engravers, themselves. Considerably more information has become available to me from ABN engraving records, engravers' collections, and contact with engravers since Gene did The Engraver's Line and other books on U.S. bank notes and bonds. Gene has now published an outstanding book on international bank note engravers, The International Engraver's Line (it is beautifully done, in full color, loaded with photos of engravings and engravers, and contains mostly information never published before: contact Gene at engraversline@aol.com or P.O. Box 31144, Cinn., Ohio 45231. He even has a special deal on buying the two books together). As I have mentioned in other articles, formal engraving records seem to exist for only two categories of pic- ture engraving: work clone at American Bank Note in New York, 1858-1980s, and at the Bureau of Engraving and Printing for most of its history (but not including dies received from the private bank note companies in the 1860s-1870s). For all of the predecessor (pre-1858) bank note companies, all of the merged and acquired companies (National, Continental, Western, Homer Lee, etc.), other ABN offices (Philadelphia, Boston), and all of the com- panies from the Security-Columbian side of the business, it appears that there are no formal engraving records. However, there is information from engravers and others that fills in some of those gaps. The most difficult catego- ry, on which the least information exists, is the pre-1858 era, that of the predecessor (to ABN) bank note firms. There is another category of credit for a vignette (and sometimes a portrait)—the artist who did the drawing or painting from which the engraver worked. In the early nineteenth century, people such as Asher B. Durand, George W. Hatch, and others did both the artwork and the engraving and frequently "signed" (put their names or initials into) their engravings. But as bank note engraving became more refined and difficult to learn, the more institu- tionalized, late nineteenth-century bank note companies prob- ably didn't want a well-paid engraver spending time doing a drawing that more cheaply could be done by an artist. However, later engravers did occasionally do vignette art, as will be seen in this article. As for the Lincoln portraits Fred Reed listed in his fasci- nating piece, his first, ABN No. 141 (Figure 1), was, accord- ing to ABN engraving records, engraved by Charles Burt and approved March 30, 1861. (The version used on the 1860s $10 Legal Tender notes was put in an oval with a little scrollwork and given the number 141A.) No. 141 is the second Lincoln portrait ABN did, the first being the beardless Lincoln described below. Amusingly, the die for No. 141 was in the Atlanta sale by American Numismatic Rarities and a copy of the record card was apparently put with the die and so the auc- tion house put this information in their listing. Fred was the fortunate purchaser of the die and related material at the sale. ABN No. 141 had previously been attributed to Frederick Girsch. The record card indicates that it was engraved from a Figure 1 Die proof of "Abraham Lincoln," ABN No. pen and ink drawing by Louis Delnoce. This illustrates an 141, engraved by Charles Burt in 1861. MUSEUM of AMERICAN FINANCE financialhistory.org Paper Money • March/April 2007 • Whole No. 248 145 IN 2007, WALL STREET WILL GET ITS OWN MUSEUM Future home of the Museum of American Finance In Association with the Smithsonian Institution 48 Wall Street, New York City Experience the excitement and energy of Wall Street one block from the New York Stock Exchange. J Figure 3. Die proof of "Abraham Lincoln," ABN No. 123, engraved by Alfred Sealey in 1860. Figure 2. Die proof of "Abraham Lincoln/First President of the United States" engraved by National Bank Note Company. Not believed to have been engraved by Henry Gugler. (Fred Reed collection) Figure 4. Die proof of "The Reapers," ABN No. 76, engraved by Alfred Sealey in 1859. V 477f1P 146 March/April interesting phenomenon—that even when there was a photograph, sometimes the bank note company would have an artist (in this unusu- al case, a fellow engraver) do a drawing for the engraver to work from. The record card for No. 141A carries the same combination of Burt as engraver and Delnoce as artist. Fred's second portrait was engraved for the National Bank Note Company, and appears to be very similar to the American Bank Note version (Figure 2). From notations in an ABN engraving department ledger, I believe that the National portrait may have preceded the American portrait. It was used on certain $20 Interest Bearing Notes and a variety of U.S. bonds done by National Bank Note. In both the Comprehensive Catalog of U. S. Paper Money and the Illustrated History of U.S. Loans, Gene attributes this portrait to Henry Gugler. Gugler was one of the first engravers hired by the Treasury (later the BEP), in January 1863, but there is no indication that he ever worked for the National Bank Note Company and therefore the portrait should not be attributed to Gugler. It is possible that in later years Gugler "worked over" the portrait at the BEP, but the relevant dies at the BEP do not have an engraver noted. Fred Reed illustrates the beardless Lincoln but does not provide the engraver's name. This portrait was the first Lincoln portrait done by American Bank Note Company, around July 1860 (Figure 3). It was engraved by Alfred Sealey. This por- trait appeared on obsolete currency and state bonds and is No. 123 in the original ABN numbering system (for an explanation of the ABN numbering sys- tems, see my article "Die Numbers Reflected Changes at ABN" in the June 2004 Bank Note Reporter). For some reason, around 1914 a new die was made and given the number C-404 in the portrait series. In the ABN engraving records no engraver is listed for this portrait, making it rather clear that it is a "laydown" (from a transfer roll) of No. 123, but obviously with some "working over." In the Lincoln memora- bilia/autograph world, the original No. 123 portrait is famous because American Bank Note sent Lincoln a small number of proofs of the portrait at the time it was finished, several of which Lincoln signed and gave to friends or supporters. Another very popular vignette (or perhaps more appropriately, series of vignettes) is a picture of two females entitled The Reapers (Figure 4). There has been confusion about who engraved the original version, which is 45 mm high. (The artist of the figures is also of great interest to me, and I have ongoing research on that issue as I don't believe that current attributions as to the artist are correct.) Roger Durand, in his volume Interesting Notes about Vignettes [volume one], states that it was engraved by Fred Smillie (George Frederick Cumming Smillie, 1854-1924). That's not possible, as Fred Smillie was five years old at the time it was engraved in 1859. This attribution was repeated in a Smythe Schingoethe sale, Part 6, March 2006, Lot 1551 (The Southbridge Bank $50) where the vignette, with the Fred Smillie attribution, was prominently featured. The actual engraver of the original The Reapers, ABN No. 76, is Alfred Sealey, according to ABN records (I have seen Sealey's name spelled Sealey, Sealy, and Seely. I have a document signed by him, and he spelled his name "Sealey."). Fred Smillie's vignette collection con- tained two very interesting progressives of The Reapers. Figure 5 shows THE W I NCHESTER BANK e r.//, 241'434'-'-'-*1411' NATIONAL CURRENCY. /awn, jsi. .tire,^ 1'.7114 EA71..P.F"4.4 with [he I-raw-mi. at 11140hillition - — it-.1187 0i it-.A 4X.41114—iliktaLLt ' (112.11-WeaLUVASW ioatp,ru TLN D OLISMIN 4.3cogstalsrPot..uassot.n.g., A typical NI I Obsolete Note, this 0111 the Winchester Bank. A .Series of 1882 $10 Brown !lack from the Vl'inchester National Bank. lhis same building real used for the Winchester Bank and itS SIICES01; the Winchester National Bank. 'teller window circa 1910, ll'inchester National Bank I you have New Hampshire currency or old records or correspondence relating to the same, or other items of historical interest, please contact us. In addition, Bowers and Sundman are avid collectors of these bills and welcome contact from anyone having items for sale. We will pay strong prices for any items we need! Visit the Nil Currency Study Project trelisite: nlicurrenerrom. Find a listing of New I lampshire banks that issued currency, anal sample chapters, and more. We look forward to hearing from you! The NEW HAMPSHIRE CURRENCY STUDY Project Box 539, Wolfeboro Falls, NH 03896 E-mail: infotfenheurrency.com fsinir e-ntail Will he Pnlvanted hi both authors.) www.nlicurrency.com Paper Money • March/April 2007 • Whole No. 248 147 An Invitation from The NEW HAMPSHIRE CURRENCY STUDY Project Q. DAVID BOWERS and DAVID M. SUNDMAN are involved in a long-term project to describe the history of all currency issued in the State of New Hampshire, as well as to compile a detailed registry of all known notes (whether for sale or not). Our area of interest ranges from early colonial times through the Revolutionary era, the state-chartered bank years (1792-1866), and the era of National Banks (1863-1935). This will result in a book under the imprimatur of the Society of Paper Money Collectors, with help from the New Hampshire Historical Society, the Smithsonian Institution, and others. Apart from the above, David M. Sundman is president of Littleton Coin Company and Q. David Bowers is a principal of American Numismatic . Rarities, LLC, and both advertisers in the present book. For other commercial transactions and business, refer to those advertisements. The authoo or the pres,rn bard;, holding a nor Series of 1902 $10 National Bank Note from West Deny, Neu , I lampshire. rvvogrwogrsv TWO 148 March/April • Whole No. 248 • Paper Money Figure 5 (far left). Die proof pro- gressive of "The Reapers" with fig- ures in an early state, by Alfred Sealey. Figure 6 (left) Die proof progressive of "The Reapers" with addition of an etched sky by James D. Smillie. Pencil notation reads C r \ Felutik 44 /07- • t/i7, "etched sky for Mr. Seely Aug. 16, 1859" and Fred Smillie noted that this was in James D. Smillie's hand. the figures in an early state, and Figure 6 is the vignette with a sky added. Figure 6 has noted on it in James D. Smillie's hand "etched sky for Mr. Seely [sic] Aug. 16, 1859." Fred Smillie has written "James D. Smillie" above these notations. So this is a bit of further confirmation that ABN No. 76, The Reapers, was engraved by Alfred Sealey (with an etched sky by James D. Smillie). Figure 7 (slightly reduced) illustrates a $2 note of the McKean County Bank with this vignette, which saw considerable use on obsolete bank notes. TWOY 0. 0, 1' Stv 'PICO TWO 7// ////7/ Figure 7 (above) $2 note (remainder) on the McKean County Bank, Smethport, PA, by ABNCo, N.Y., with "The Reapers." Figure 8 (left) "The Reapers No. 2," engraved by G.F.C. Smillie, with assistance from James Smillie, as the vignette appeared on the back of the 1000 Peseta note of El Banco de Espana, 1876, by ABNCo (proof). Fred Smillie did, however, engrave the large version (80 mm high) of the Reapers, The Reapers No. 2, with assistance (probably in the background vignetting) from his uncle James Smillie Games D. Smillie's father). It is ABN No. 791, done in 1874, and was heavily used on securities and foreign bank notes. (Figure 8 illustrates its use on the back of the Spanish 1000 Peseta note of 1876.) It was an important early job for the young apprentice Fred Smillie. The fact that Fred Smillie did the large version is probably the source of the confusion about the original version. While there is not room to follow this thread fur- Paper Money • March/April 2007 • Whole No. 248 149 4../7/rreS0,71 ' • %.1.3:..G.t±,_,Ntmc,,:isauworftesmucerr- K2573(.._ WiCtfT?;- ,— h., Ne. ,!.-4.. 'q 20., .-,si.P A‘ tvtisi;t1,*iir 4. • . 40... t '.° '‘ 0,4 M111:1, 11111 ; ;I:IMI: HOLEAHS ONI! •• •J^iiLli[LiZLCP1.EiSLf • • • C, ('5008777 u CTIVITY IN THE PAPER MONEY MARKET is stron- L ' ger than ever! We have been cherrypicking certified notes for their eye appeal, brightness of colors, excellent margins, and overall appearance, with an emphasis on popular designs and types, many of which are featured in 100 Greatest American Currency Notes by Q. David Bowers and David Sundman. WE ARE CONSTANTLY ADDING TO INVENTORY but most items are one-of-a-kind in our stock; therefore we suggest you visit our website and call immediately to make a purchase. RECEIVE OUR PAPER MONEY MAGAZINE, THE Paper Money Review. This full color publication highlights paper money in our inventory, as well as articles and features about this fascinating collecting specialty. To receive your copy send us an invoice of a previous paper money purchase. Or, if you place an order for any paper money totaling $1,000 or more you will receive the Paper Money Review AND a per- sonally autographed copy of 100 Greatest American Currency Notes with our compliments. CHECK OUT OUR OFFERING TODAY. WANT LISTS ArcrnTur-0vv,,,,, I 1-4l, I .3 .4,-,-.1-1 1 1-1 • greFril2L' pc.; ///e C'Ay.,/////e., tic« i/ 03(1 We are pleased to announce the ongoing sales of the greatest hoard of bank-note printing plates, dies, and other material ever assembled. The American Bank Note Company (ABNCo) was formed in 1858 by combining seven of the most important bank note engraving firms then in business. Hundreds of printing plates and other artifacts were brought into the merger, and survive today. To these are added many other items made by ABNCo from 1858 onward, a museum quality selection. In sales in 2007 Stack's will continue to bring to market hundreds of bank note printing plates, vignette dies, cylinder dies, and other artifacts, each unique. These items are so rare that most numismatic museums and advanced collectors do not have even a single vignette die, cylinder die, or plate! If you would like to have inure information, contact us by mail, phone, fax, or on our website. This is an absolutely unique opportunity! U.S. COINS • ANCIENT AND WORLD COINS • MEDALS • PAPER MONEY Stack's New York City: 123 West 57th Street • New York, NY 10019-2280 • Toll free: 800/566/2580 • Telephone 212/582-2580 • Fax 32/ 215 50 II Stack's Wolfeboro, NH: P.O. Box 1804 • Wolfeboro, NH 03894 • Toll-free 8661811-1804 • 603/569-0823 • Fax 603/569-3875 • www. st acks .oan ;I/ tVii ft) ft:/// '%.» 1 /1 Figure 9. Die proof of "Thomas Jefferson," engraved by Charles Burt for the Bureau of Engraving and Printing. The portrait was used on U.S. $2 Legal Tender Notes start- ing in 1874. Figure 10. Die proof of engraving of Union soldier and blacksmith, with artwork by F.O.C. Darley. Produced by Continental Bank Note Company, N.Y. Note Darley's name beneath the horse's front legs. 150 March/April • Whole No. 248 • Paper Money ther, the Reapers story does not end here, as there are two more versions of the Reapers, both using just the heads of the figures from the large version. Another curious engraver attribution, which illustrates another engraving aspect, came to my attention on the E-Sylum weekly internet numismatic newsletter, a publication of the Numismatic Bibliomania Society edited by Wayne Homren (while its heavily coin-oriented, there is some good paper money information too. Subscriptions are free: just Google "e-sylum" to look at an issue). A person who gets the newsletter and who is particularly interested in engravings of Thomas Jefferson queried if anyone knew who engraved the Jefferson portrait on the $2 Legal Tender, 1874-onward (Figure 9). The individual said that while the Friedberg catalog named James Smillie as the engraver, other sources said Charles Burt. I went to the Friedberg catalog, and was surprised to see James Smillie listed as the engraver. James Smillie was an etcher, not a "cutter," and did not do bank note portraits. Both the Comprehensive Catalog and BEP records list Charles Burt as the engraver. The easiest way for most people to get an idea of the range of James Smillie's work is to look him up in Hessler's The Engraver's Line where one will see no portraits, and few human figures (and the few human figures in his vignettes were generally done by others). To refresh readers with the cutting/etching distinction, in the United States/English tradition, human fleshwork and drapery (clothing) are generally cut with a graver directly into the steel, and everything else is etched. Etching involves putting a ground on the die, then using an etching point to cut through the ground in the form of the dots and lines constituting the design, and then applying acid, which eats ("bites") into the steel where it has been exposed by the etching point. Human portraiture was the top of the craft, and in some eras there was more specialization, and in other eras engravers tended to be able to do both. For example, the post-war generation of engravers at ABN (such as Ken Guy, Ed Cranz) were trained by Bill Ford to do both, while Harold Osborn and Joe Keller, ABN engravers of the preceding generation, were primarily etchers, though Keller did some fine figures late in his career. The October 2006 American Numismatic Rarities catalog of the sale of the American Bank Note dies, rolls, and plates contained attributions which unintentionally illustrate the artist/engraver dichotomy. Several vignettes, which happened to have F. 0. C. Darley's name in them, are listed as having been engraved by Darley. Lot 454, Union soldier and blacksmith, has Darley's signature at the left followed by the word "fecit." (Figure 10) "Fecit," literally "made," in this case refers to the original artwork, not the engraving. The cataloguers presumably did not know that Darley did not engrave any bank note vignettes, but he did the artwork for a number of them. The same mistake occurs in Lot 459, Union soldier freeing slaves. Felix Octavius Carr Darley is a fascination of mine, and I plan to do a review of his work for the bank note industry 1853-1873. This was a lucrative but little-docu- mented aspect of his career, and I have considerable origi- nal information and material about his work. While it is unusual to have the artist's name appearing so prominently with a vignette, my best guess is that Continental Bank Note, for whom lot 454 was engraved, was almost boasting of having Darley artwork by putting his name on the left beneath the vignette in good size letters. Perhaps one of the most interesting situations of an engraver also doing the artwork in the obsolete bank note era occurred in 1862 when a leading engraver used his whole family as the models for two different drawings, and then engraved both of them. Many years ago, in the last issue of the Essay Proof7ournal in 1994, I did an article on M TEN'dr ME /STE A, MEN ''TEN. TEN TEN A,' TEN • :".:•••1 e TIE OTILT-C CiAler 1.1trooritt TENr.VT TENOTEIVW TENe TENIV E PT IRJ TEN.TE Ed EN., ZENO TENcRITENNI E ekW EIVX..war eaaniteksikNowl Figure 12 (above). Die proof of "Apotheosis of Washington," ABN No. 278, engraved by Louis Delnoce in 1862 from the wash drawing in Figure 11. Figure 13 (below). $10 note (remainder) on The Oil City Bank, Oil City, Pa., by American Bank Note Company, N. Y., 1864. Paper Money • March/April 2007 • Whole No. 248 151 Figure 11. Original wash drawing by Louis Delnoce for the ABNCo vignette "Apotheosis of Washington." Delnoce not only did the drawing, but used himself and his daughter as the models for the vignette. an American Bank Note advertisement which used one of the two vignettes. Now, years later, I am happy to pick up the story with additional information on that vignette and finally lay out the other half of the story. The vignette entitled Apotheosis of Washington, ABN No. 278, was engraved from an attractive piece of art (Figure 11). The artist of the wash drawing, and the engraver of the vignette, were the same person—the great engraver Louis Delnoce (1822-1890). Delnoce was a leading bank note engraver who worked for a number of bank note com- panies and the Bureau of Engraving and Printing. As mentioned earlier, by the Civil War era it was not common for a bank note engraver to do both the artwork and the engraving. Yet because most of the engravers were good artists, it did happen occasionally. What is particularly unusual about this drawing is what Fred Smillie tells us in his engraving notebooks, namely, that Delnoce posed himself and his daughter for the vignette! He engraved the vignette (Figure 12) in 1862. It appears on The Oil City Bank $10 notes of 1864 (Figure 13 slightly reduced). The Oil City Bank notes are noted for fine vignettes, as ABN was obviously using / ./7/// ///://' . //vW/7/X. I 5) BROADWAY 4:4#43:016 ,_ ---.<4;)///// / -::///'4.,/,, 1•4/;//14 . 1/ //// /✓ /%1;1, / • / .7('/. • /'/", • ///:///'//. ;• .//7"f? ./ / ..',/://///'. •• ////0„/ ///////////' ///7/////'///1 /'///;// /w/i///'/////./. / // . J//X' /y/./////),/,./ ,', 152 Figure 14. Engraved advertisement (reduced) for American Bank Note Company, using "Apotheosis of Washington." Besides Delnoce and his daughter appearing in the main vignette, "Louise" (noted engraver Charles Burt's daughter, engraved by Burt) appears in the upper right, and"Chloe" (engraver and ABN President John Gavit's daughter, engraved by James Bannister) appears in the lower left. March/April • Whole No. 248 • Paper Money some of the newest material it had. The vignette also appeared in an ABN advertise- ment (Figure 14), evidence of the high regard the company had for it. That advertisement also carried two very interesting girls' portraits. Fred Smillie's engraving notebooks tell us that the portrait in the upper right is that of Louise Burt, daughter of engraver Charles Burt (engraved by him in 1864), and that the por- trait in the lower left is that of Chloe Gavit, daughter of former engraver/ABN president John Gavit (engraved by James Bannister in 1866). Apotheosis of Washington can also be found on the Thames National Bank (Norwich, CT.) stock certificate. An inexpen- sive way to get an impression of the vignette is via a U.S. Postal Panel George Washington, No. 159, Feb. 22, 1982, on which it appears. Apotheosis of Washington proved of further use to American Bank Note as the Delnoce fig-- ure was used to create a vignette (Figure 15, opposite) for the Province of Canada $1 notes of 1866. This vignette is ABN No. 479, engraved by James Bannister and Henry S. Beckwith in June of 1865. And the story continues. Mr. Delnoce, by himself, shows up again on the 1 peso La Republica Oriental del Uruguay notes of 1875 (Figure 16, opposite) with another vignette familiar to collectors of U.S. paper money, the Crawford statue. This version looks very much like a "laydown" of the right side of Apotheosis of Washington. Presumably not wanting to slight the rest of his family, Louis Delnoce did another draw- ing for a vignette, and, according to Fred Smillie, used his wife and their two sons, Angelo and Eugene. Angelo was later an engraver for ABN but turned to counterfeiting in the 1890s. The engraving is ABN No. 277, The First Telegram, finished in late March of 1862, and produced, according to ABN records, by Delnoce and James D. Smillie (Figure 17, opposite). My guess is that Delnoce did the human figures and James D. Smillie did some part of the etching. The vignette was used on several telegraph company stock certificates, including The Commercial Telegram Company (Figure 18, opposite). It also appeared on a check of the Peoples National Bank of Boston, and, most importantly, on U.S. government bonds, the $5,000 and $10,000 bonds of the 5-20s of 1862 (Figure 20, following). A truncated version of The First Telegram became ABN No. 783, Telegram No. 2. It was "touched up" by Henry S. Beckwith and finished in early 1874. The vignette saw use on The Gold and Stock Telegraph Company certificate (Figure 19, opposite) as well as certificates of American District Telegraph and Western Union. It was also used on a title page of a book, The Telegraph in America by James D. Reid, in 1887. The picture engravers deserve recognition for their efforts, something very few received in their lifetimes and something they don't seem to be receiving even today with increasing interest in the beautiful art of bank note engraving. I encourage any serious interest in learning about the people who did this work, and not only the picture engravers but the designers, letter and general engravers, and printers. The industry is almost gone, save for the 0 '4N(1, :UNO 1:7N (/ l ,...211,...11.3N(1.4, 111N b..1, 171.■ (1 ni 4. 1 1L—N 4.10 + N .1. Er Ti Cl■ T 7% , • • , •"■ 11..0 .Nt...( .1, ) I Paper Money • March/April 2007 • Whole No. 248 153 Figure 15. Die proof of ABN No. 479, vignette used on the $1 notes of the Province of Canada, engraved by James Bannister and Henry S. Beckwith in 1865. Note that the right side of the vignette is the Delnoce figure from "Apotheosis of Washington." Figure 16. Proof of 1 peso La Republica Oriental del Uruguay note of 1875 with the Delnoce figure and the Crawford statue. Bureau of Engraving and Printing, and bank note engraving survives in robust form only on bank notes. It doesn't seem likely that the hand work will survive much beyond the current generation. Questions to mntomasko@att.net Note: Sources have generally been referred to in the text. All illustrations are from the author's collection unless otherwise specified. Figure 17 (above left). Die proof of "The First Telegram," ABN No. 277, engraved by Louis Delnoce and James D. Smillie in 1862. Delnoce posed his wife and his two sons, Angelo and Eugene for this vignette, for which he did the original art- work in addition to the engraving. Figure 18 (above right). Detail from sstock cer- tificate of The Commercial Telegram Company. Figure 19 (left) Detail from stock certificate of The Gold and Stock Telegraph Company with "Telegram No. 2." o3 lEASEIVE / bE PA /1771TENT* REGIST 0 • • • • • , 4- 4,..7,: , /4 . ////// // FAIVIA7111 1111)* _..„t illjaggq1l;51„/.4/X////////: //4/4/ //'://./.......,4,././4/ /4,,,,4, ./././...../...,/,/./0/ //,',/.//,',./../////, /0//// /47 ..., ...,,,,,,,2///./..,,,./.4 ..,:////14, •/-2",.%41, ,,,/- 0/.-7/1,1.?(,,-/4.4.,//".,../Ty...., /4 ,/., -;./.4,7 / /1 //A. // de, / / /,■,//r/7///',//ielle//////// ,/ /, //i//7/./19:/ / yv/..44/:rii,/ t.44kri2714..... , ,./;//: ..., 4 /// .4 1 e /I / //, Ay' , "I', ? '1f1 / /41./ X 0 ////MC // ', ///,/ 0/1,:///Y/ *;1/07/.i. 4 i / 1 ...7 .tf -- Air ),,, /// , ////// .! / 4 /// /1,- , // /A' ilk /:////".."/ , /:///, , Fel•iiit il a ,/ fIOWA i , / 0j£1, ED) :MVP LE DETER SIVE AND Pit4.111LE11017Vir 11011; 154 March/April • Whole No. 248 • Paper Money Figure 20. The most important use of The First Telegram vignette was on U.S. government 5-20 bonds of 1862, where it appeared on $5,000 and $10,000 denominations. MEMPHIS COIN CLUB'S 31ST ANNUAL INTERNATIONAL PAPER MONEY SHOW July 6, 7, 8, 2007 Cook Convention Center 255 N. Main Street, Memphis, TN 38103-1623 Possible Discount on Selected Airlines, call toll free: 1-800-426-8326 or IMPS@MMWORLDTRAVEL.COM Office Hours 10 a.m. - 6 p.m. CST Monday through Friday Paul Whitnah, Owned & Operated by PRW, Inc. Convention Hotel: MEMPHIS MARRIOTT DOWNTOWN 250 N. Main St., Memphis, TN 38103 (901) 527-7300 Sleep Inn, 40 N. Front St. (901) 522-9700 Bourse Information: Mike Crabb Box 17871 Memphis, TN 38187-0871 Phone (901) 757-2515 Exhibit Chairman Martin Delger 9677 Paw Paw Lake Dr. Mattawan, MI 49071 Phone (269) 668-4234 after 6 p.m. Paper Money • March/April 2007 • Whole No. 248 155 The Origin of Bank Note Vignettes - #1 "The Young Angler" by Walter D. Allan, FCNRS* S OURCES OF THE IMAGES ENGRAVED FOR USE ON BANK notes and other documents is quite diverse, including photographs of people and places, from statues, from illustrations in books and journals, from paintings, and even from engravings previously made to illustrate stories in books of the early 19th century. The vignette in this article was simply used as a decorative addition in an issue of The Ladies Repository in 1857. This series of books were devoted to Literature and Religion and though published monthly they are generally found bound into a yearly format. The engraving shown above (Figure 1) was found opposite page 512 in the 1857 volume. It shows a young boy and his sister sit- ting on the bank of a small river with a fishing pole attached to a float hoping to catch a fish. Behind them stands his Mother holding another child. There is an * FCNRS refers to a Fellow of The Canadian Numismatic Research Society. This is the first in a series about the Origin of Bank Note Vignettes :j4, 10el!N v yr :4 ry r,\ Prtlit Roy • , aFIVE ME VI VE If E _um 156 March/April • Whole No. 248 • Paper Money old mill on the opposite bank of the river. This engraving made after a paint- ing "The Little Anglers" by H. Le Jeune, engraved by F.E. Jones especially for The Ladies Repository. Henry LeJeune (1819-1904) was a romantic English painter, and a drawing master at the Royal Academy. He was noted for his sen- timental depictions of children. Fitz Edwin Jones reproduced paintings, such as those of LeJeune's more famous contemporary Sir Edwin Landseer, and also engraved portraits from daguerreotypes. He is represented in the National Portrait Gallery A commentary by the editor, (on page 575) Rev. D.W. Clark D. D. gives an interesting contemporary view of fishing and is as follows: THE FIRST FISH We never could make a successful angler, and long since gave up the effort. To sit upon some projecting rock or old log, or to stand with feet under water on some low sand-bar, hour after hour, intently watching for a nibble, is more than our human nature was ever able to endure. We can not say how much sport we may have lost, or, rather, missed by this infirmity, for we don't know. But judging of it by the keen zest of your real angler, we conclude it must have been immense. Angling, according to Christopher North, is the first among field Figure 2 sports 'in the order of nature.' We have before us the 'Young Angler.' The young angler commences his illustrious career, perhaps, armed with a thread of no great length from his mother's spool, and a crooked pin firmly secured by the head of the end of it. With these formidable weapons he stands by the wash tub, containing, to his imag- ination, an immense depth of water, and desperately and persistently angles for a bite where there is neither bait nor fish. Not alone, gentle reader, in this kind of angling is the unsophisticated child. Tens of thousands in active life angle with as little judgment and to as little purpose. But the angler a little more advanced, the veritable 'Young Angler,' claims our attention. There he stands--not the angler in our picture--on the low bridge crossing a brook. This little brook has its `back-water' and 'still-water' occasioned by eddies and obstructions. There is 'still water" and of quite a depth under the bridge. So our young angler has a chance. His rod, of no great length, has been care- fully peeled and smoothed; his line, homespun, twisted and doubled with great effort and after repeated failures; his bait, the impaled worm Paper Money • March/April 2007 • Whole No. 248 157 writhing in its agony. Thus armed, the young angler stands and waits for 'a bite'. What earnest, engrossing hope is painted upon his counte- nance; time flies uncounted; school, books--all the world is forgotten-- so intent for a bite. It comes! Quick as lightening the hapless minnow shoots up from its element over the head of the young angler and lands remote from the water among the bushes or the grass. Caught a real fish! Two inches long it may be made by a liberal measurement; a quarter of an ounce it may weigh! But he has caught a fish! What tri- umph on his brow! What exultation in his looks! How he eyes the poor victim of his art, the beautiful gloss of its scales, the symmetry of its form, the beautiful taper of its extreme! He clutches it firmly in his hand, lest it should escape. With the speed of the wind he hies himself to his house, bearing aloft the trophy of his skill. All in the house, father, mother, sisters, brothers and even Bridget--she of plum-cake and apple-pie memory--and 'the hired man' must listen to the story of his success and admire the beauty of the captured minnow. Don't smile at the enthusiasm of our young hero; he has caught his first fish. It may be small in your eye, but not so in his. It may seem to you worthless, but not so to him. Nor is it. A new element of enterprise and success is developed in the lad. The spirit is stirred; the consciousness of power to achieve--which is the great element of suc- cess--has been begotten. He will yet fish in broader seas, and draw from their stormy depths grander evidence of his power. This little feat, then, possesses a moral significance worthy of our regard. It is a prophecy of noble enterprise and heroic achievement. This charming engraving from The Ladies Repository was quite likely the model for the bank note vignette used on the $5 note of the Bank of Mannassa, Front Royal, Virginia (Haxby VA-85 G2a) engraved for the American Bank Note Co. (Figure 2). The mother and child have been omitted and the old mill has been altered. A bas- ket and tiny boat have been added in the foreground. The boy's hat has been altered and a small bridge has been added to the right of the mill. A remounted die proof without any die No. or imprint is shown in Figure 3. Figure 3 o. March/April • Whole No. 248 • Paper Money • BANK OF CAPE PEAR 158 CSA & OBSOLETE NOTES ARE MY BUSINESS!! SPMC LM #6 CSA, Obsolete Banknotes, Scrip, Bonds, Checks & Paper Americana I have been a full-time dealer in Confederate and obsolete currency for over 30 years. I vehelped many collectors assemble complete CSA type sets as well as find rare varieties. I vealso helped hundreds of collectors with their obsolete note interests from rare to common. My catalogs are well known in both the dealer and collector fields for their reference value. If you are a seri- ous collector of CSA notes, bonds or obsolete bank notes, I can offer you the following: 1. Thousands of bank notes in the Confederate and obsolete areas. 2. Accurate descriptions, grading and fair prices. 3. Reliable dealings with prompt and friendly service. 4. The knowledge and research capabilities to properly attribute these notes. 5. A want list service that has helped many find notes which they could not locate. 6. Top prices when buying one note or an entire collection. If you are selling, I want to buy your notes! 7. The respect and integrity of dealings that are well known in the hobby. 8. Representation to bid for clients at major auctions. 9. Paying finder s fees on collections referred to me. 10. Appraisal services for reasonable fees. 11. 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Box 2522, Lexington, SC 29071 PH: (803) 996-3660 FAX: (803) 996-4885 LM #6 ■ 1,3=, _' !11 1 101:i ll • • • •■I • El IJ I - Llinin • • • • J MYLAR CURRENCY HOLDERS BEST QUALITY -- LOWEST PRICES 100 500 1000 Small (2 7/8" x 6 1/2") $39 $160 $300 Large (3 1/2' x 8") $44 $175 $320 Auction/Check (3 3/4" x 9") $48 $200 $360 Payment by check or money order. All prices include shipping. NY State residents must add sales tax or provide completed resale form.You may combine sizes for lowest rate. For more information, please see our website at www.sellitstore.com Linda and Russell Kaye, Life member, ANA, SPMC Sel I itstore, Inc. P.O. Box 635, Shrub Oak, NY 10588 HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES 7379 Pearl Rd. #1 Cleveland, Ohio 44130-4808 1-440-234-3330 Paper Money • March/April 2007 • Whole No. 248 Time is running out: Deadline March 15th Nominations due for SPMC Board THE FOLLOWING SPMC GOVERNORS' TERMS expire in 2007: Wes Durand Rob Kravitz Fred Reed Bob Schreiner If you have suggestions for candidates, or if the gov- ernors named above wish to run for another term, please notify Nominations Chairman Tom Minerley, 25 Holland Ave #001, Albany, NY 12209-1735. In addition, candidates may be placed on the ballot in the following manner: (1) A written nominating petition, signed by 10 current members, is submitted; and (2) An acceptance letter from the person being nominated is sub- mitted with the petition. Nominating petitions (and accom- panying letters) must be received by the Nominations Chairman by March 15, 2007. Biographies of the nominees and ballots (if necessary) for the election will be included in the May/June 2007 issue of Paper Money. The ballots will he counted at Memphis and announced at the SPMC general meeting held during the International Paper Money Show. Any nominee, but especially first-time nominees, should send a portrait and brief biography to the Editor for publication in Paper A/lopcp. DO YOU COLLECT FISCAL PAPER? Join the American Society of Check Collectors http://members.aol.com/asccinto or write to Lyman Hensley, 473 East Elm St., Sycamore, IL 60178. Dues are $13 per year for US residents, $17 for Canadian and Mexican residents, and $23 for those in foreign locations. 159 Confederate Paper Money Helping Build Great CSA Paper Money Collections • Books: Collecting Confederate Paper Money — SPMC 2006 Book of the Year; more coming • Condition census and provenance: Documenting the rarities of CSA for future generations • Position notes in the census, documenting provenance, recording great collections • Building Great Collections: Major rare variety collections, spicing up type sets, unusual focused collections, affordable and historically important error and watermark collections Please contact - Pierre Fricke, P.O. Box 52514, Atlanta, GA 30355 404-895-0672; pfricke@attglobal.net ; www.csaquotes.com ; eBay — "armynova" 160 March/April • Whole No. 248 • Paper Money LITTLETON COIN COMPANY • SERVING COLLECTORS for OVER 60 YEARS Selling your collection? Call Littleton! you've worked hard to build your paper money collection. When its time to sell, you want a company that's as thorough and attentive as you are. At Littleton, our team of professionals is ready to offer you expert advice, top-notch service, and a very strong cash offer. See why collectors like you have rated this family-owned company so highly. Call us at 1 - 800 - 581 -2646 and put Littleton's 135+ years of combined buying experience to work for you! 7 Reasons you should sell to Littleton... "ft ea uktz,auDi ,i••••••4";70.9_, I Vg*firar;-4 :,z441VO4,1 4 f ;c,122 Wtoilat 11411k. 111041 le .“ .0:331temri I I TM, M11:11 I:ti 017ANII:ItItA WANTED: All types - Legal Tenders, Silver Certificates, Nationals, Federal Reserve Notes and more. 1 Receive top dollar for your collection - immediately 2 Quick turnaround - accept our offer and we'll send you a check the very same day 3 Single notes to entire collections 4 Deal with a company that has a solid reputation built from more than 60 years of service You can rely on our professionals for accuracy and expert advice 6 Why travel? Send us your collection, or if it's too large and value requires, we'll come to you - call for details Each year we spend over $15 million on coins and paper money - isn't it time for your check? Maynard Sundman David Sundman Jim Reardon Founder President, Nutnisnu tist Chief Numismatist (ANA 1.51 g44(, PNG.. IS) Butch Caswel l Ken Westover Josh Caswell Senior Numismatist Numismatist Numismatist Littleton Coin Company 1309 Mt. Eustis Road • Littleton NH 03561-3735 Contact us: References: Toll Free: 18001 581-2646 Bank of America Toll-Free Fax 1877) 850-3540 Dun & Bradstreet #01-892-9653 CoinBuy@LittletonCoin corn Over 60 Years of Friendly Service to Collectors 02006 LCC, Inc LittletonCoin.com OUR MEMBERS SPECIALIZE IN OBSOLETE CURRENCY They also specialize in Large Size Type Notes, Small Size Currency, National 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. • Hosts the Please visit • Encourages • Sponsors the Money Convention, • Publishes several of these booklets • Is a proud supporter pcDA annual National and World Paper Money Convention each fall in St. Louis, Missouri. our Web Site pcdaonline.corn for dates and location. public awareness and education regarding the hobby of Paper Money Collecting. John Hickman National Currency Exhibit Award each June at the Memphis Paper as well as Paper Money classes at the A.N.A.'s Summer Seminar series. "How to Collect" booklets regarding currency and related paper items. Availability can be found in the Membership Directory or on our Web Site. of the Society of Paper Money Collectors. 7" To be assured of knowledgeable, professional, and ethical dealings] when buying or selling currency, look for dealers who proudly display the PCDA emblem. The Professional Currency Dealers Association For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to.. PCDA James A. Simek — Secretary P.O. Box 7157 • Westchester, IL 60154 (630) 889-8207 Or Visit Our Web Site At: vvvvvv.pcdaonline.com `-'4 6ii6cikatuk C116a38> vs • / HERITAGE'S F.U.N. CURRENCY AUCTION TOPS $10 MILLION Part of $78 Million-Plus World Record for Largest Numismatic Auction Heritage's official currency auction of the 2007 Florida United Numismatists Convention achieved prices realized of $10,539,462 helping Heritage establish a new world record for the largest numismatic auction ever held. More than 900 consignors trusted Heritage with their prized coins and notes, and 8,367 bidders participated. Fr. 2221-H $5000 1934 Federal Reserve Note PMG Choice Unc. 64 EPQ Realized: $126,500 44' re ,004-4, Uncut Pair on The First NB of Key West, FL, Ch. #4672 $10-$20 SN1 1882 Brown Back Fr. 485/499 Realized: 195,500 erritsto Fr. 1177 $20 1882 Gold Certificate PMG Gem Uncirculated 66 EPQ Realized: $126,500 C.,,111. ARC 111,0fi ko": -7L.0.■it ONE 10■11.31A ......... wilitue 1110 4-Ismcliut ' • Fr. 380 The First NB of Denver, CO $1 Original, Ch. #1016, SN1 note Realized: $126,500 o0 4 106.1.&, Cut Sheet of Four Fr. 1072a $100 1914 Red Seal Federal Reserve Notes CGA Gem Uncirculated 68; 68; 67; 67 Realized: $155,250 4"--te41-.0613A IA lyre r 6,543 Fr. 185a $500 1874 Legal Tender PMG Very Fine 25 Realized: $517,500 Fr. 212 $50 1864 Interest Bearing Note PMG Very Fine 30 EPQ Realized: $138,000 We welcome the opportunity to show you how important your consignment is to us. Contact our Consignor Hotline today at 800-872-6467 ext. 555 to participate in one of our upcoming auctions. Central States • May 10-12, 2007 • Consignment Deadline: March 22, 2007 Long Beach • September 28-29, 2007 • Consignment Deadline: August 9, 2007 The World's #1 Numismatic Auctioneer HERITAGE Auctim Galleria Annual Sales Exceeding $500 Million • 275,000+ Online Registered Bidder-Members 800-872-6467 Ext. 555 • or visit HA.com • 3500 Maple Avenue, 17th Floor • Dallas, Texas 75219-3941 214-528-3500 • FAX: 214-443-8425 • e-mail: Consign@HA.com HERITAGE NUMISMATIC AUCTIONS, INC.: California 3S 3062 16 63, Florida AB 0000665, Ohio 2006000050. CURRENCY AUCTIONS OF AMERICA: Florida AB 2218. Auctioneers: Leo Frese: Florida AU 0001059. California 35 3062 16 64, New York City; Day 1094965, Night 1094966; Samuel Foose: Texas 00011727, California 35 3062 16 65, Florida AU3244, Ohio 2006000048, New York City; Day 0952360, Night 0952361, and North Carolina 8373. Jim Fitzgerald: Texas Associate 16130. Mike Sadler: Texas Associate 16129. Scott Peterson: Texas 00013256, Florida AU3021. Robert Korver: North Carolina 8363, Ohio 2006000049, Texas 13754, and New York City; Day 1096338 and Night 1096340 This auction held subject to a 15% buyer's premium. To receive a complimentary book or catalog of your choice, register on-line at HA.com/PM6047 or call 866-835-3243 and mention reference #PM6047