official journal of The Society of Paper Money Collectors How the 1914 FRN Serial #1 San Francisco Red Seals were Saved LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM Recent 2023 Prices Realized from Stack’s Bowers Galleries Include Your U.S. Currency in Our November 2023 Showcase Auction – Consign Today! Auction: November 14-17, 2023 • Consignment Deadline: September 18, 2023 CC-34. Continental Currency. May 9, 1776. $4. PCGS Banknote Superb Gem Uncirculated 68 PPQ. Realized: $18,000 T-45. Confederate Currency. 1862 $1. PMG Gem Uncirculated 65 EPQ. Realized: $14,400 Fr. 1700. 1933 $10 Silver Certificate. PCGS Banknote Superb Gem Uncirculated 67 PPQ. Low Serial Number. Realized: $99,000 Fr. 2210-Hlgs. 1928 Light Green Seal $1000 Federal Reserve Note. St. Louis. PMG Gem Uncirculated 65 EPQ. Realized: $43,200 Fr. 2402H. 1928 $20 Gold Certificate Star Note. PMG Gem Uncirculated 65 EPQ. Realized: $38,400 Fr. 2405. 1928 $100 Gold Certificate. PMG Gem Uncirculated 66 EPQ. Realized: $192,000 Fr. 2407. 1928 $500 Gold Certificate. PMG Gem Uncirculated 65 EPQ. Realized: $216,000 Fr. 2221-K. 1934 $5000 Federal Reserve Note. Dallas. PCGS Banknote Choice Very Fine 35. Realized: $174,000 Fr. 2301mH. 1934 $5 Hawaii Emergency Star Mule Note. San Francisco. PMG Gem Uncirculated 66 EPQ. Realized: $52,800 Fr. 2200-Jdgs. 1928 Dark Green Seal $500 Federal Reserve Note. Kansas City. PMG Gem Uncirculated 65 EPQ. Realized: $43,200 Fr. 2201-A. 1934 Dark Green Seal $500 Federal Reserve Note. Boston. PCGS Banknote Superb Gem Uncirculated 68 PPQ. Realized: $48,000 Fr. 2. 1861 $5 Demand Note. PMG Gem Uncirculated 65 EPQ. Realized: $408,000 Contact Us for More Information Today! West Coast: 800.458.4646 • East Coast: 800.566.2580 • Consign@StacksBowers.com America’s Oldest and Most Accomplished Rare Coin Auctioneer 1550 Scenic Ave., Ste. 150, Costa Mesa, CA 92626 • 949.253.0916 • Info@StacksBowers.com 470 Park Ave., New York, NY 10022 • 212.582.2580 • NYC@stacksbowers.com 84 State St. (at 22 Merchants Row), Boston, MA 02109 • 617.843.8343 • Boston@StacksBowers.com 1735 Market St. (18th & JFK Blvd.), Philadelphia, PA 19103 • 267.609.1804 • Philly@StacksBowers.com Info@StacksBowers.com • StacksBowers.com California • New York • Boston • Philadelphia • New Hampshire • Oklahoma • Virginia Hong Kong • Paris • Vancouver SBG CDNGreensheet Nov2023 PR Consign 230901 320 Plate Letters on Large Size NBNs--Peter Huntoon 337 How the 1914 FRN Serial #1 Red Seals Were Saved--Lee Lofthus 344 High Serial Discovery--Peter Huntoon 346 The Fate of Baugh's Cotton Mill in alabama--Bill Gunther & Charles Derby 350 4th Issue Treasury Seal Plate Proof Sheets--Jerry Fochtman & Rick Melamed 357 Neither Chit nor Chizzler--Terry Bryan 361 Altered 4th Printing Chemicograph Backs--Peter Bertram 363 Book Review--Frank Clark 366 A Case of Mistaken Identity--Tony Chibbaro 379 Montgomery Ward Catalog & U.S. Postal Notes Tame the Wild West--Bob Laub 385 UNESCO-Angola--Roland Rollins SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 315 Columns Advertisers SPMC Hall of Fame The SPMC Hall of Fame recognizes and honors those individuals who have made a lasting contribution to the society over the span of many years.  Charles Affleck Walter Allan Doug Ball Hank Bieciuk Joseph Boling F.C.C. Boyd Michael Crabb Forrest Daniel Martin Delger William Donlon Roger Durand C. John Ferreri Milt Friedberg Robert Friedberg Len Glazer Nathan Gold Nathan Goldstein James Haxby John Herzog Gene Hessler John Hickman William Higgins Ruth Hill Peter Huntoon Glenn Jackson Don Kelly Lyn Knight Chet Krause Allen Mincho Clifford Mishler Barbara Mueller Judith Murphy Dean Oakes Chuck O’Donnell Roy Pennell Albert Pick Fred Reed Matt Rothert John Rowe III Herb & Martha Schingoethe Hugh Shull Glenn Smedley Raphael Thian Daniel Valentine Louis Van Belkum George Wait D.C. Wismer From Your President Editor Sez New Members Uncoupled Cherry Pickers Corner Quartermaster Obsolete Corner Chump Change Small Notes Robert Vandevender 317 Benny Bolin 318 Frank Clark 319 Joe Boling & Fred Schwan 368 Robert Calderman 372 Michael McNeil 374 Robert Gill 376 Loren Gatch 378 Jamie Yakes 382 Stacks Bowers IFC Pierre Fricke 315 FCCB 335 DBR Currency 335 Higgins Museum 335 PCGS-C 336 Fred Bart 343 Confederate Book 343 Bob Laub 343 Greysheet 345 Tom Denly 345 Lyn Knight 355 Kagins 360 ANA 386 PCDA IBC Heritage Auctions OBC Fred Schwan Neil Shafer SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 316 Officers & Appointees ELECTED OFFICERS PRESIDENT Robert Vandevender II rvpaperman@aol.com VICE-PRES/SEC'Y Robert Calderman gacoins@earthlink.net TREASURER Robert Moon robertmoon@aol.com BOARD OF GOVERNORS APPOINTEES PUBLISHER-EDITOR Benny Bolin smcbb@sbcglobal.net ADVERTISING MANAGER Wendell Wolka purduenut@aol.com Megan Reginnitter mreginnitter@iowafirm.com LIBRARIAN Jeff Brueggeman MEMBERSHIP DIRECTOR Frank Clark frank_clark@yahoo.com IMMEDIATE PAST PRESIDENT Shawn Hewitt WISMER BOOk PROJECT COORDINATOR Pierre Fricke From Your President Robert Vandevender IIFrom Your President Shawn Hewitt Paper Money * July/August 2020 6 jeff@actioncurrency.com LEGAL COUNSEL Robert Calderman gacoins@earthlink.com Matt Drais stockpicker12@aol.com Mark Drengson markd@step1software.com Jerry Fochtman jerry@fochtman.us Pierre Fricke pierrefricke@buyvingagecurrency.com Loren Gatch lgatch@uco.edu Derek Higgins derekhiggins219@gmail.com Raiden Honaker raidenhonaker8@gmail.com William Litt billitt@aol.com Cody Regennitter cody.reginnitter@gmail.com Andy Timmerman andrew.timmerman@aol.com Wendell Wolka purduenut@aol.com In July, Nancy and I attended the Summer FUN sho . For the first time, my niece Taylor and nephew Justin, accompanied by their parents, my sister Jennifer, and Troy came to the show to see what it was all about. Nancy and I spent several hours walking them around the floor showing them all of the exciting things one can see at a money show. Both Justin and Taylor participated in the Treasure Trivia Hunt where they went to various tables to answer a question and receive a gift. They received many good items and learned a lot about numismatics. Justin won a proof set on a wheel spin at one of the stops. Both received slabbed dollar bills from PCGS. The SPMC didn’t have a table at the Summer FUN, but we will be participating as one of the Treasure Trivia Hunt stops at the Winter FUN when we hold our annual meetings and breakfast. Last year, our question to the children was to explain what a star note signifies. We will be coming up with a different question for this upcoming FUN. If you have children or grandchildren and have never taken them to a major show, I highly recommend it. Speaking of the Winter FUN, we have started planning for the various events we hold during the show. We are planning for the breakfast meeting, designing souvenir breakfast tickets, preparing for award presentations for both literary and service awards, and arranging a speaker for our annual membership meeting. One activity we are pursuing right now is donations for our annual Thomas Bain raffle, always held during our breakfast meeting. It is a major fundraising activity for our Society and helps offset the cost of breakfast. So, if you have a few numismatic related items you would like to contribute, please seek out one of our Governors or email for an address for shipment. Of course, we are a 501c3 organization and can provide a receipt for anything donated if requested. Also, if you are interested in doing an educational presentation, just let us know. Mike Abramson sent out some interesting news about how currency will be printed and packaged. It sounds like the notes in packs of new currency will no longer be sequentially numbered, starting with the one dollar notes in 2023. This will certainly change how people search for special serial numbers in the future. Have you checked out the new Bank Note Lookup feature our Governor, Mark Drengson, helped to develop. It is a very nice addition and open to the public. I was using it at work the other day to look up coworkers’ hometowns and many of the non-collectors were interested and impressed. Check it out at https:// banklookup.spmc.org/. In July, the SPMC had a table at the Long Beach Expo in California. We had a steady stream of traffic at the table and handed out many membership applications. We will do it again at the September show so if you are in the area, please stop by and say hello. At the recent ANA WFOM show, I had the opportunity to meet with Ventris C. Gibson, Director of the US Mint. Here is a picture as she was presenting me with her autographed card. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 317 Terms and Conditions  The Society  of  Paper Money  Collectors  (SPMC)  P.O.   Box 7055,  Gainesville, GA    30504, publishes    PAPER    MONEY (USPS   00‐ 3162)  every  other  month  beginning  in  January.  Periodical  postage  is  paid  at  Hanover,  PA.  Postmaster  send  address  changes  to  Secretary  Robert  Calderman,  Box  7055, Gainesville,  GA  30504. ©Society  of  Paper Money  Collectors, Inc.  2020.  All  rights  reserved.  Reproduction  of  any  article  in whole  or  part  without written approval  is prohibited.  Individual copies of  this  issue of PAPER MONEY are available  from the secretary  for $8  postpaid. Send changes of address, inquiries concerning    non    ‐    delivery    and    requests    for    additional copies of this issue to  the secretary.  MANUSCRIPTS  Manuscripts     not     under      consideration      elsewhere and  publications  for  review should be sent  to  the editor. Accepted  manuscripts  will  be  published  as  soon  as  possible,  however  publication  in  a  specific  issue  cannot  be guaranteed. Opinions  expressed  by  authors  do  not necessarily  reflect those  of  the  SPMC.   Manuscripts should be  submitted  in WORD  format  via  email (smcbb@sbcglobal.net)  or  by  sending memory stick/disk  to  the  editor.  Scans  should  be  grayscale  or  color  JPEGs  at  300 dpi. Color  illustrations may be changed to grayscale at  the  discretion  of  the  editor.  Do  not  send  items  of  value.  Manuscripts are  submitted with copyright release of the author  to  the  editor  for  duplication  and  printing as needed.  ADVERTISING  All advertising on space available basis. Copy/correspondence  should be sent to editor.  All advertising is pay in advance.  Ads are on a “good faith”  basis.  Terms are “Until Forbid.”  Ads  are  Run  of  Press  (ROP)  unless  accepted  on  a  premium  contract basis. Limited premium space/rates available.  To keep rates to a minimum, all advertising must be prepaid  according to the schedule below.  In exceptional cases where  special  artwork  or  additional  production  is  required,  the  advertiser  will be notified  and  billed accordingly.  Rates  are  not commissionable; proofs are not  supplied.  SPMC  does not  endorse any company, dealer,  or  auction  house.  Advertising  Deadline: Subject to space availability, copy must be received  by  the  editor  no  later  than  the  first  day  of  the  month  preceding  the  cover date  of  the  issue  (i.e.  Feb.  1  for  the  March/April  issue). Camera‐ready art or electronic ads  in pdf  format are required.  ADVERTISING RATES  Editor Sez Benny Bolin Required file    submission format    is    composite    PDF v1.3  (Acrobat 4.0   compatible).   If   possible, submitted files should  conform to ISO 15930‐1: 2001 PDF/X‐1a file format standard.  Non‐  standard,  application,  or  native  file  formats  are  not  acceptable. Page  size: must  conform to specified publication  trim  size.  Page  bleed:  must  extend minimum  1/8”  beyond  trim for page head, foot, and front.  Safety margin:  type  and  other  non‐bleed  content must  clear  trim by minimum 1/2”.   Advertising c o p y   shall be restricted to paper currency, allied  numismatic material, publications,   and   related   accessories.    The SPMC  does  not  guarantee advertisements,  but  accepts  copy  in good faith,  reserving  the right  to  reject objectionable  or  inappropriate  material  or  edit      copy.  The          SPMC   assumes      no      financial       responsibility for  typographical  errors  in  ads  but  agrees  to  reprint  that portion of an ad  in  which a typographical error occurs.  Benny Space  Full color covers  1 Time  $1500  3 Times  $2600  6 Times $4900 B&W covers  500  1400  2500 Full page color  500  1500  3000 Full page B&W  360  1000  1800 Half‐page B&W  180  500  900 Quarter‐page B&W  90  250  450 Eighth‐page B&W  45  125  225 Wow! Summer continues and Mother Nature continues to show us how strong a lady she is and who is the boss. It is HOT even for those of us in Texas. Being raised and working on a farm all my life, I am usually not so bothered by the heat, but July and August have really shown me how human (or how old) I really am. From all indications, all aspects of the numismatic hobby are hot also. Reports from regional shows, summer FUN and the ANA WOFM, all had good and encouraging reports. I had to miss one of my usual manistay shows, the Texas Numismatic Association again this year as I had to accompany our high school choir as their nurse to Hawaii. It was a good trip, but it was my third time going with our choir and band and we did the exact same things as the prior two, Pearl Harbor (which never gets old), the Polynesian Cultural Center, the Dole Plantation. All was good and the kids had a good time. I hope you all are going to attend Winter FUN this year. The SPMC has seemingly made this our annual show as the IPMS was in years past. It is a great show and we are again going to have a lot of activities aimed at paper money. The show runs from January 4-7, 2024 at the Orange County Convention Center as usual. On Friday, January 5, we hope to have a general membership meeting with an educational presentation. We hope to hold our annual Tom Bain Raffle and breakfast on Saturday January 6. More on these two will be forcoming in the Nov/Dec issue of Paper Money. If you want to donate items for the raffle, let one of the governors know and they will be happy to take your items. This is also the time we will be giving out our service and literary awards. Speaking of the latter, we will be having our on-line voting for the literary awards in December and presenting the winner at FUN. We will also have an or some awards for paper money exhibt(s) as well. Another of our stalwart members (two actually) were also recently feted at the ANA WOFM. John and Nancy Wilson were recognized with an ANA Philanthropy Award--Congrats to both! The SPMC had a great ANA with many members award recipents. On a sad note, we were notified of the July passing of Glen Jorde from Devils Lake, ND. He was a long time paper collector and dealer and will be missed by the entire hobby. Have a happy and safe summer and I hope to see you all some day at a show although I dont generally get to many. I hope you all have a great end of summer. Make plans to see us at FUN '24 and remember to watch out for those kids as school is back in session and they are probably not paying attention and watching/ texting on their phones instead of watching for you! 250 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the ANA. The Annual Meeting of the SPMC is held in June at the International Paper Money Show. Information about the SPMC, including the by-laws and activities can be found at our website-- www.spmc.org. The SPMC does not does not endorse any dealer, company or auction house. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 17 years of age and of good moral character. A parent or guardian must sign their application. Junior membership numbers will be preceded by the letter “j” which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $39. Dues for members in Canada and Mexico are $45. Dues for members in all other countries are $60. Life membership—payable in installments within one year is $800 for U.S.; $900 for Canada and Mexico and $1000 for all other countries. The Society no longer issues annual membership cards but paid up members may request one from the membership director with an SASE. Memberships for all members who joined the Society prior to January 2010 are on a calendar year basis with renewals due each December. Memberships for those who joined since January 2010 are on an annual basis beginning and ending the month joined. All renewals are due before the expiration date, which can be found on the label of Paper Money. Renewals may be done via the Society website www.spmc.org or by check/money order sent to the secretary. WELCOME TO OUR NEW MEMBERS! BY FRANK CLARK SPMC MEMBERSHIP DIRECTOR NEW MEMBERS 07/05/2023 NEW MEMBERS 08/05/2023 Dues Remittal Process Send dues directly to Robert Moon SPMC Treasurer 104 Chipping Ct Greenwood, SC 29649 Refer to your mailing label for when your dues are due. You may also pay your dues online at www.spmc.org. 15586 David Netz Jr, Website 15587 David Leong, Frank Clark 15588 Michael Rocco, Website 15589 Zachary Askeland, Website 15590 Wayne Siebert, Website 15591 Karan Khandelwal, Website 15592 Remi Barbier, Website 15593 John Koar, Website 15594 Barbara Thompson, Rbt V. 15595 Carlos Zaragoza, Frank Clark 15596 Michael Sowizdrzal, Website 15597 Russ Frank, Robert Calderman 15598 Frank Harris, Robert Calderman 15599 Travis Bolton, Robert C. 15600 Charles Vincent, Frank Clark 15601 Len Ebersberger, Robert C. 15602 Steve Hose, Website 15603 Dimitriy Litvak, Frank Clark REINSTATEMENTS None LIFE MEMBERSHIPS None 15604 Aiden Shakirov, Website 15605 John Wyndham, Website 15606 William L. Brown, Robert Calderman 15607 Terrill M. Williams, Wendell Wolka 15608 Matthew Zimmermann, Website 15609 Elkader Auction House, Robert C. 15610 Danny Spungen, Derek Higgins 15611 Art Delgado, Derek Higgins 15612 Jessica Higgins, Derek Higgins 15613 James Ondak, Frank Clark 15614 Thomas Castloo, Derek Higgins REINSTATEMENTS None LIFE MEMBERSHIPS LM467 Andrew Timmerman, formerly 14986 LM468 Bradley Trotter, Frank Clark SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 319 The Paper Column by Peter Huntoon Plate Letters on Large Size National Bank Notes and the Maintenance and Replacement of Plates PURPOSE The purpose of this article is to explain the conventions that governed the lettering of subjects on large size national bank note face plates. It is important to differentiate between replacement, altered and reentered plates in order to determine when letters changed so the distinctions between these processes will be discussed. Incrementing the plate letters on replacement plates was a Bureau of Engraving and Printing innovation. Only two cases have been recognized where replacement national bank note face plates bore distinguishing markings made by the bank note companies. LETTERING CONVENTIONS Plate letters were always used on national bank note faces to differentiate between the subjects of the same denomination on a given plate. The sequential advancement of letters on replacement plates was a Bureau of Engraving and Printing innovation that commenced in 1878 during the Series of 1875. The following plate lettering conventions became standardized by the time the Series of 1882 was introduced. 1. Each denomination had an independent lettering sequence. 2. The lettering began at A for each denomination with the start of each new series for each bank. 3. Lettering for a given denomination advanced sequentially down the plate, and then from plate to plate in the order in which the plates were made. 4. Plate letters reverted to A when new plates were made when: (a) the bank title was changed as the result of a formal petition from the bankers and/or (b) an earlier charter number was reassigned to the bank. 5. Plate letters were not changed on altered plates including: (a) Original Series to Series of 1875 conversions, (b) changed manufacturer imprints, (c) territorial to state conversions, (d) addition of engraved signatures, (e) Comptroller-imposed title changes, or (f) title changes limited to the removal of the word “The.” 6. Plate letters were advanced on existing Series of 1882 and Series of 1902 plates when they were altered to the “or other securities” variety with the introduction of the date back types in 1908. The important fact here is that each denomination used by a bank had its own lettering sequence. In cases where a given denomination appeared on different plate combinations in the same series, the letters for that denomination walked sequentially through all the plates in the order in which the plates were made. 10-10-10-10 and 50-50-50-100 Series of 1882 and 1902 Plates Three standardized plate formats were made available to banks for use in the Series of 1882 and 1902; specifically, 5-5-5-5, 10-10-10-20 and 50-100. The 10-10-10-10 combination was introduced on July 23, 1906 as an option that bankers could order. The purpose was to encourage the circulation of lower denomination notes, which were perceived by Treasury officials to be under represented (Ridgely 1906). The 50-50-50-100 was added to the mix during October 1910 in order to standardize the available plate sizes at four subjects. Use of 50-100 plates was discontinued by the end of November, and they were replaced with the new format. Both of these changes had to be accommodated by the plate numbering system, so you will see that SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 320 both, especially the 10-10-10-10, led to very interesting lettering sequences for particular banks. LETTERING SEQUENCE Plate lettering is particularly interesting for banks with huge circulations because many plates were required. Table 1 shows the lettering sequence for the 5-5-5-5 and 10-10-10-20 Series of 1902 plates for The First National Bank of the City of New York (29). Notice the progression of lettering styles as the alphabet was cycled: A, AA, A3, A4, etc. The subscript 2 was not used, rather the second pass through the alphabet utilized the double letter style. For convenience, the doubled letter or number are referred to as subscripts, however there is great variability in their placement next to the plate letters. Figure 1. Double plate letters were used during the second pass through the alphabet. Numbered letters were used during the third and higher passes through the alphabet. Table 1. Succession of plate letters on the Series of 1902 5-5-5-5 and 10-10-10-20 face plates for The First National Bank of the City of New York, New York (29). 5-5-5-5: A-B-C-D AA-BB-CC-DD A3-B3-C3-D3 A4-B4-C4-D4 A5-B5-C5-D5 A6-B6-C6-D6 A7-B7-C7-D7 E-F-G-H EE-FF-GG-HH E3-F3-G3-H3 E4-F4-G4-H4 E5-F5-G5-H5 E6-F6-G6-H6 I-J-K-L II-JJ-KK-LL I3-J3-K3-L3 I4-J4-K4-L4 I5-J5-K5-L5 I6-J6-K6-L6 M-N-O-P MM-NN-OO-PP M3-N3-O3-P3 M4-N4-O4-P4 M5-N5-O5-P5 M6-N6-O6-P6 Q-R-S-T QQ-RR-SS-TT Q3-R3-S3-T3 Q4-R4-S4-T4 Q5-R5-S5-T5 Q6-R6-S6-T6 U-V-W-X UU-VV-WW-XX U3-V3-W3-X3 U4-V4-W4-X4 U5-V5-W5-X5 U6-V6-W6-X6 10-10-10-20: A-B-C-A AA-BB-CC-I A3-B3-C3-Q A4-B4-C4-AA A5-B5-C5-II D-E-F-B DD-EE-FF-J D3-E3-F3-R D4-E4-F4-BB D5-E5-F5-JJ G-H-I-C GG-HH-II-K G3-H3-I3-S G4-H4-I4-CC G5-H5-I5-KK J-K-L-D JJ-KK-LL-L J3-K3-L3-T J4-K4-LL-DD J5-K5-L5-LL M-N-O-E MM-NN-OO-M M3-N3-O3-U M4-N4-O4-EE M5-N5-O5-MM P-Q-R-F PP-QQ-RR-N P3-Q3-R3-V P4-Q4-R4-FF P5-Q5-R5-NN S-T-U-G SS-TT-UU-O S3-T3-U3-W S4-T4-U4-GG V-W-X-H VV-WW-XX-P V3-W3-X3-X V4-W4-X4-HH SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 321 In what is a measure of great financial prowess, The First National Bank of the City of New York (29), reached $5 Series of 1902 plate A7-B7-C7-D7, the highest format found on any plate. This plate was certified for use December 10, 1928. The last 5-5-5-5 delivery for the bank from the Bureau of Engraving and Printing to the Comptroller occurred on July 6, 1929, and ended with sheet serial B179083. The last sheet sent to the bank was B123785, yielding an astonishing total of 2,396,985 sheets of Series of 1902 fives. Over 55,000 of the last of the sheets were not sent to the bank, so it appears that no notes from the A7-B7-C7-D7 plate got out, provided they were even printed. I have never seen one. The highest format used on a 10-10-10-20 plate was P5-Q5-R5-NN for the same bank on a Series of 1902 plate completed August 6, 1928. The last of that combination was delivered to the Comptroller July 1, 1929, and bore serial A321021. The last issued to the bank was A300533, yielding a total of 1,731,253 Series of 1902 10-10-10-20 sheets. Letter subscripts were used on Series of 1882 plates for a number of banks; however, the numerical subscripts were never reached in that series. We could have seen a Series of 1882 plate lettered A3-B3-C3- D3 had The National Bank of Commerce in New York (733) required just one more Series of 1882 5-5-5- 5 plate! Notice from Table 1 how the lettering sequence usually did not include the full alphabet. The sixth format in the succession of 5-5-5-5 plates was U-V-W-X. The letters Y and Z were skipped so that the seventh format was AA-BB-CC-DD. Thus, the style of letting was homogeneous on the plate instead of the heterogeneous Y-Z-AA-BB. As shown on Table 1, the letters Y and Z also were avoided in successions of 10-10-10-20 plates. The eighth format in that succession was V-W-X-H. The letters Y and Z were skipped on the $10s on the ninth format, so the plate was lettered AA-BB-CC-I. Here, the styles of letters used on the $10s remained homogeneous, but notice that the $20 was consecutive from the preceding format. The 24th format was V3- W3-X3-X. The Y was not used on the $20 on the next plate. Rather, the Y and Z were once again skipped so the 25th format became A4-B4-C4-AA! Plate lettering was far more interesting when a large bank utilized a mix of 10-10-10-20 and 10- 10-10-10 plates. A good example involves the listing on Table 2 for the Series of 1882 plates for San Francisco (5105), a bank that had a title change. Notice for this bank that plate lettering reverted to A after the title change. More interesting, follow the progression of plate letters for the $10s and $20s through the succession of 10-10-10-20 and 10-10-10-10 plates. Figure 2. The highest plate letter used on a national bank plate was D7 on a Series of 1902 plate for The First National Bank of the City of New York (29). Notes printed from the plate containing this subject may not have reached circulation, owing to not having been printed or being canceled at the end of the large note era. National Numismatic Collection, Smithsonian Institution photo. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 322 USE OF Y AND Z The letters Y and Z were reached only on $10s, and only when a bank used just the right mix of 10-10-10-10 and 10-10-10-20 plates. Only two Series of 1882 issuing banks had plates made with Y and Z position letters, both during their date back issues; specifically, The National Bank of Commerce in St. Louis (4178) and National Shawmut Bank of Boston (5155). Seven 1902-issuers received them in the Series of 1902; specifically, charters 104, 121, 733, 891, 1111, 1290 and 1370. Table 2. Plate Letters on the Series of 1882 face plates for The Nevada and The Wells Fargo Nevada National Banks of San Francisco, California (5105). Notice how the plate letters on the $10 Subjects thread through the 10-10-10-10 and 10-10-10-20 combinations. 5-5-5-5 10-10-10-10 10-10-10-20 50-100 Date Certified The Nevada National Bank of San Francisco Series of 1882 brown back face plates: A-A Jan 22, 1898 A-B-C-A Jan 22, 1898 A-B-C-D Jun 21, 1900 D-E-F-B Aug 12, 1902 E-F-G-H Aug 19, 1902 I-J-K-L Oct 6, 1902 G-H-I-C Dec 7, 1904 The Wells Fargo Nevada National Bank of A-B-C-D May 22, 1905 A-B-C-A May 23, 1905 E-F-G-H Jul 7, 1905 D-E-F-B Aug 9, 1905 G-H-I-J Sep 15, 1906 K-L-M-N Oct 11, 1907 Series of 1882 date back face plates: I-J-K-L Sep 14, 1908 O-P-Q-C Sep 15, 1908 R-S-T-D Sep 14, 1908 U-V-W-X Sep 15, 1908 M-N-O-P Nov 8, 1908 Q-R-S-T Oct 29, 1909 AA-BB-CC-DD Oct 29, 1909 U-V-W-X Oct 9, 1912 AA-BB-CC-DD Sep 12, 1914 Series of 1882 value back face plates: EE-FF-GG-HH Mar 28, 1916 EE-FF-GG-HH Mar 29, 1916 II-JJ-KK-LL Aug 30, 1916 MM-NN-OO-PP Mar 20, 1917 II-JJ-KK-LL Mar 22, 1917 The following Wells Fargo Nevada face plates were altered from brown to date backs and relettered as shown: Combination Brown Back Date Back 5-5-5-5 E-F-G-H I-J-K-L 10-10-10-10 K-L-M-N U-V-W-X 10-10-10-20 A-B-C-A O-P-Q-C 10-10-10-20 D-E-F-B R-S-T-D SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 323 Although theoretically possible, the letters Y and Z never were used in a 50-100/50-50-50-100 mix because no bank required the requisite number of plates. PLATE LETTERS Attractive, ornate letters were the standard on most first plates in the Original Series through Series of 1882. Early on, the styles of the plate letters found on some 10-10-10-10 and 20-20-20-20 plates differed to distinguish those combinations. The letters on the earliest 10-10-10-10 Original Series plates were oversize, and they were carried forward when those plates were altered into Series of 1875. Similarly, the lower left plate letters on some 20-20-20-20 Series of 1875 plates appear ghost like to distinguish notes from that combination. The letters on some early Series of 1875 10-10-10-10 and 10-10-10-20 replacement plates were italicized. Plain open letters were adopted for use on 10-10-10-20 Series of 1882 replacement plates. The plain letters also were used on all 10-10-10-10 Series of 1882 plates first introduced in 1906, and on all re- lettered 10-10-10-20 plates when the brown back face plates were altered it carry the “or other securities” security clause required for the date back faces. REPLACEMENT, ALTERED AND REENTERED PLATES The processes of replacing, altering and reentering plates must be distinguished in order to bring clarity to this discussion. Replacement plates were entirely new plates that were manufactured to replace worn plates, or plates that were purged for having inartistic title blocks. The plate letters on the various subjects on replacement plate were always advanced from those on previous plates beginning in 1878. Altered plates were existing plates on which design elements were changed. The rule for altered plates was that plate letters were left unchanged. However, there was one huge group of exceptions. Lettering of the subjects was advanced when Series of 1882 brown back and 1902 red seal faces were altered into their date back forms. Reentered plates were worn plates upon which design elements were repressed from rolls to refurbish details. The plate letters on reentered plates were left unchanged, but occasionally moved slightly. Figure 3. Varieties of letters used on early series $10 and higher plates. Left column: (a) standard size plate letters used on most Series of 1882 and earlier plates, (b) oversize letters on the earliest 10-10-10- 10 Original Series plates, (c) italicized plate letters on early 10-10-10-10 and 10- 10-10-20 replacement plates, (d) plain upright letters on Series of 1882 replacement plates. Right column: top is the standard plate letter used on most Series of 1882 and earlier plates, bottom is a ghost-like plate letter used on some Series of 1875 20-20-20-20 plates. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 324 REPLACEMENT PLATES The problem of worn plates plagued the national bank note printings from the beginning. Only two cases are known where special markings were used to identify Original Series replacement plates. The second 5-5-5-5 Original Series plate for The Tenth National Bank of the City of New York (307) has a small numeral 2 engraved under the lower right plate letter on all four subjects. It was prepared by the Continental Bank Note Company. Similarly, the second 1-1-1-2 for The Mechanics National Bank of the City of New York (1250) prepared by the American Bank Note Company has 2s next to the left plate letters on the $1s and both plate letters on the $2. The other Original Series replacement plates were duplicates down to the same plate letters. Figure 4. The number 2 was engraved below the lower right plate letters to distinguish the subjects on the Original Series 5-5-5-5 replacement plate made for The Tenth National Bank of the City of New York, New York (307). Figure 5. A numbered Original Series replacement plate was made for The Mechanics National Bank of the City of New York (1250) that was altered into a Series of 1875 plate by the BEP. Left detail is of the numbered position letters on the left side of the $1s. Right detail is of the numbered position letters on the $2s. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 325 The identification of replacement plate evolved once the Bureau of Engraving and Printing took over responsibility for making and maintaining the plates. The first replacement plates that were made by the Bureau to replace existing Series of 1875 plates had incremented plate letters and updated Scofield- Gilfillan signatures, that reveal that they were made after April 1, 1878. Advancing the plate letters was a Bureau of Engraving and Printing innovation. A good example is the E-F-G-H 5-5-5-5 Series of 1875 for The Second National Bank of Springfield, Massachusetts (181). It replaced an A-B-C-D with the Allison- New combination. Some replacement plates were prepared instead of altering worn Original Series plates into Series of 1875 plates. The 50-100 plate for the Gallatin National Bank of the City of New York (1324) is an example that was certified May 25, 1878 and carried Scofield-Gilfillan signatures and incremented B-B plate letters. The practice of updating signatures on replacement plates ceased during 1878. From then on, every key piece of information remained the same as on the previous plate, although the styles or positions of the various design elements could be changed or rearranged, and the bank note company imprint could be replaced with a Bureau imprint. The plate letters were variable items. The strictness with which Bureau employees adhered to advancing the plate letters is illustrated by a couple of glitches that converged on the same day. The $5 A-B-C-D Series of 1882 plate for The First National Bank of Michigan City, Indiana (2747), made in 1882, with a patented letter layout was replaced by a circus poster variety certified on January 22, 1887. The problem was that the new plate was lettered A-B-C-D, not E-F-G-H. This mistake was spotted, the letters were corrected by altering the plate, and the corrected plate was certified January 28, 1887. However, on January 28th, a replacement $5 Series of 1882 face for The National Shoe and Leather Bank of the City of New York (917) was submitted for approval that replaced another patented letter A-B- C-D plate made two years earlier. This replacement also was mis-lettered A-B-C-D. The error was caught immediately because everyone concerned was on the alert thanks to the Michigan City situation, and the plate was not certified. In fact, it was fixed and certified that very same day. The haste with which it was altered indicates that someone probably got an earful! ALTERED PLATES Alterations did not result in changes to the plate letters except when the Series of 1882 and 1902 face plates were altered into the date back varieties by changing the security clause. The altering of plates was a very common cost-effective occurrence. Anything on the plate could be changed. The most interesting alteration order that I found was the following to the Bureau from Comptroller Knox, dated May 7, 1877. Please change the plate 5.5.5.5 prepared for The Farmers National Bank of Mattoon, Illinois, which plate was ordered to be prepared in letter from this office February 14, 1876, to “The Farmers National Bank of Platte City,” Platte City, Missouri. Transfer to bear date May 25, 1877, charter number 2356. There was no Farmers National Bank of Mattoon, Illinois. The original order was a mistake and the Comptroller was saving money by having the plate altered instead of having an entirely new one made. The point is that even wholesale alterations were undertaken and at the time were considered routine. Conversion to Series of 1875 A common alteration was the conversion of Original Series plates into Series of 1875 forms. The alterations included changing the Treasury signatures, adding or removing manufacturer imprints, and extending vignettes to the borders. Replacing Imprints A common alteration was to replace the bank note company imprints with that of the Bureau on Series of 1875 and 1882 plates. Those alterations also involved removing the words “Printed at the Bureau, Engraving & Printing, U. S. Treasury Dept” from plates containing them. Territorial to State Conversions A common alteration in all series was the conversion of territorial plates into state plates. In these cases, the state replaced the territorial designation, and the Treasury signatures and plate dates were updated. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 326 Figure 6. When the replacement plate (center note) was made, it was mistakenly lettered A-B-C-D. The same error had just been made on a plate for Michigan City, Indiana. Notice from the certification dates that the plate was re-lettered the day the error was discovered! National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 327 Bank Signatures Engraved bank signatures were added to many Series of 1902 plates beginning in 1922. This alteration also involved removing the line under the signatures. Comptroller-Imposed Title Changes There were a few instances in the Series of 1882 and 1902 when the postal locations written in script in the title blocks were changed by means of mid-series Comptroller-imposed title changes to clarify the locations of banks. All accommodated changes in the name of the town. The Series of 1882 cases involved Mystic River/Mystic, Connecticut (645), Great Falls/Somersworth, New Hampshire (1183), North Auburn/Auburn, Nebraska (3343), New Tacoma/Tacoma, Washington Territory (2924) and Geneva/Lake Geneva, Wisconsin (3135). The 1902 cases involved Allegheny/Pittsburgh (198 and 776). The existing plates were altered in all cases except for Mystic River/Mystic, Connecticut. The Mystic bank got new plates. On the others, the protocol followed was not to change the plate letters because the changes classified as an alteration to an existing plate with the single anomalous exception of the Series of 1902 10-10-10-20 plate for The First National Bank of Allegheny (198). The letters were advanced on that plate. Figure 7. A new title block and modernized will pay line was used on the replacement plate for The Putnam County National Bank of Carmel, New York (976). Insufficient numbers of notes of this type were issued from the bank to warrant replacing the first plate as a result of wear. The replacement plate was prepared in 1897 to replace a patented letter title block layout with an artistic layout. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 328 Table 3. Plate lettering for the Series of 1902 face plates for The First and Second National Banks of Allegheny, Pennsylvania (198, 776) on which the post office location was changed to Pittsburgh. Script Type 5-5-5-5 10-10-10-20 Location Date Certified Comment First National Bank (198): 1902RS A-B-C-A Allegheny Feb 26, 1903 altered to D-E-F-B 1902DB D-E-F-B Allegheny Aug 24, 1908 altered to Pittsburgh G-H-I-C 1902DB G-H-I-C Pittsburgh Mar 15, 1909 letters should not advance 1902DB A-B-C-D Pittsburgh Mar 18, 1909 new plate Second National Bank (776): 1902RS A-B-C-A Allegheny Jan 5, 1905 altered to D-E-F-B 1902DB D-E-F-B Allegheny Aug 25, 1908 altered to Pittsburgh D-E-F-B 1902PB A-B-C-D Allegheny Oct 31, 1917 altered to Pittsburgh A-B-C-D 1902PB A-B-C-D Pittsburgh Dec 20, 1917 1902DB D-E-F-B Pittsburgh Dec 20, 1917 Figure 8. The script location on the plate for The First National Bank of Allegheny, Pennsylvania (198), was altered by means of a Comptroller-imposed title change to show the new post office location after Allegheny was incorporated into Pittsburgh. The lettering was advanced on this plate despite the convention that letters should be left unchanged on altered plates. This is the only known case of advanced letters on an altered plate outside of “or other securities” alterations. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 329 The Allegheny exception almost makes sense in the context of the times during which the alteration was carried out. The plate was originally made in 1903 as a red seal face lettered A-B-C-A. It was altered into a date back face in 1908, and re-lettered D-E-F-B. Bureau of Engraving and Printing personnel still were heavily involved in the date back conversions when the script Allegheny was changed to Pittsburgh in March 1909. Without drawing a distinction, they advanced the letters to G-H-I-C on the Pittsburgh plate as well. This is the only example I have seen where letters were advanced on an altered plate outside of the date back conversions. See Table 3. Removal of the Word “The” A few bankers dropped the word “The” from their titles, mostly following mergers. If such a title change occurred mid-series, the expedient way to handle the change was to simply alter the existing plates by removing “The” from them. Date Back Alterations The Emergency Currency Act of May 30, 1908, required that all Series of 1882 and 1902 face plates include the clause “or other securities.” Approximately 10,000 plates were altered to comply with this act. The plate letters on those plates were advanced as they were altered. This represents the only situation when plate letters were supposed to change on altered plates. Table 4 shows the interesting result when the Series of 1882 brown back 10-10-10-20 A-B-C-A and 10-10-10-10 D-E-F-G plates for The First National Bank of Chickasha, Oklahoma (5431) were altered to their date back forms. The altered 10-10-10-20 was mis-lettered D-E-F-B. The letters D, E and F on the $10s had already been used on the 10-10-10-10 brown back plate. The error was discovered, so the $10 subjects on the plate were re-lettered L-M-N. Sufficient time had elapsed between the time the error was made and corrected to allow printings to have been made, but they weren’t. The 10-10-10-20 date back version of the plate never was sent to press. REENTERED PLATES Reentering was very common throughout the large size national bank note issues because it cost effectively prolonged the life of plates. Fundamental design elements often were modified during Series of 1875 and 1882 reentries. Modifications included changing manufacturer imprints, using different engravings for the vignettes, and even updating the Treasury signatures for a short period in 1878. Reentry in the Series of 1902 mostly involved reentering the portraits because they were the first design element to exhibit wear. Typical Series of 1902 plates lasted for about 35,000 impressions. However, as one example, the Series of 1902 $5 plates for The First National Bank of the City of New York (29) averaged more than 60,000 impressions. Such high yields indicate that many of those plates were reentered, sometimes more than once. Table 4. Plate lettering error on a Series of 1882 date back 10-10-10-20 face plate for The First National Bank of Chickasha, Oklahoma (5431). 10-10-10-20 10-10-10-10 Date Certified Comment Indian Territory Series of 1882 brown back face plates: A-B-C-A Aug 24, 1900 D-E-F-G Sep 8, 1906 Oklahoma Series of 1882 brown back face plates: A-B-C-A Jan 28, 1908 altered to D-E-F-B D-E-F-G Jan 28, 1908 altered to H-I-J-K Oklahoma Series of 1882 date back face plates: H-I-J-K Dec 12, 1908 D-E-F-B May 14, 1909 $10s mislettered L-M-N-B Aug 4, 1909 $10s relettered SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 330 Figure 9. This Chickasha Series of 1882 brown back 10-10-10-20 plate was mis-lettered D-E-F-B when it was altered into a date back, because D-E-F-G already had been used on a 10-10-10-10 brown back plate. The $10s had to be re-lettered L-M-N as shown. Neither the mis-lettered nor corrected plate was used. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 331 Figure 10. The first and third titles for this Buffalo, New York, bank were identical. A new plate was made for each title, so these three notes—all from the C plate position—are from different plates. Notice that the plates for the first and third titles were identical in every respect! Photos courtesy of Heritage Auction Archives. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 332 IDENTICAL SERIES OF 1902 PLATES The convention of copying the plate date from the most recent plate onto new title plates, which went into effect April 12, 1919, led to the manufacture of a few totally identical Series of 1902 face plates. Here is how this happened. In cases where there were multiple title changes from 1919 forward, the pre-1919 date on the early plate was propagated forward onto all the new plates. Consequently, if the bank readopted the same title as appeared on the pre-1919 plate, the new plate had the same: (1) title, (2) plate date and (3) Treasury signatures. Plate lettering also would start at A for each denomination because the convention was to restart lettering with the advent of a new title. The only variable could be the wording in the security clause. Post-April 1919 plates utilized “deposited with the U. S. Treasurer” rather than “or other securities.” The only way the pre-1919 plate could have a Adeposited with the U. S. Treasurer@ security clause would for it to have been a red seal face made prior to May 30, 1908, or a blue seal face made after June 30, 1915. Two questions arise: (1) did all of these factors, including the same security clause, converge, and (2) if they did, how were the new plates handled? Everything did align for two banks: Philadelphia, Pennsylvania (539) and Buffalo, New York (11768). In each case, the first and third titles were identical. Bureau personnel used the pre-1919 plates bearing the common title as models and duplicated every detail when making the new plates. The first use of The Philadelphia National Bank (539) title occurred on the Series of 1902 red seal 5-5-5-5 A-B-C-D and 10-10-10-20 A-B-C-A face plates in 1904. One would expect the Bureau personnel to reuse the old plates in 1928, but this was impossible because they had been destroyed. New plates had to be prepared. Printings for the first and third titles respectively involved red seals and blue seal plain backs, making for colorful matched pairs. The case of the duplicate use of The Community National Bank of Buffalo (11768) title is even more interesting. The first Series of 1902 5-5-5-5 A-B-C-D and 10-10-10-20 A-B-C-A plates were made for that bank in 1920 upon being chartered. The title was changed to the Community-South Side National Bank in 1925, and back to The Community National Bank in 1926. Plates were made for each of these titles, and plate lettering began at A for each denomination. The plates bearing the first and third titles were identical in every respect. All were used to print Series of 1902 blue seal plain backs. MULTIPLE PLATE USAGE FOR LARGE BANKS The demand for notes for the largest banks was so great that more than one plate of a given combination was in use at the same time. An example involves the Series of 1882 brown back and date back issues for The Nevada National Bank of San Francisco. Notice from Table 2 that two 10-10-10-20 plates were altered into date back plates in 1908, revealing that both were in active use at that time. Consequently, it is possible to find pairs of notes from the same plate combination on which the plate letters appear to be out of order relative to the serial numbers. David Grant showed me a pair of $5 Series of 1902 plain backs from The National Bank of Commerce in St. Louis (4178) that carry serials 763447 and 785878, respectively from positions D3 and Xx on the 13th and 12th 5-5-5-5 plates. Obviously those two plates were on the presses at the same time. OUT-OF-ORDER USAGE OF PLATES Robert Kvederas showed me a case where the Series of 1902 5-5-5-5 plate letters for The Textile National Bank of Philadelphia, Pennsylvania (7522) followed this progression: (1) plate A-B-C-D for red seals from 1905-1908; (2) altered plate E-F-G-H for blue seal date backs 1908-1914, (3) replacement plate I-J-K-L for blue seal date and plain backs 1914-1924, and finally (4) E-F-G-H again for the blue seal plain backs 1924 to 1929. The proofs revealed that when the I-J-K-L plate showed wear in 1924, the old E-F-G-H plate was reentered instead and restored to service. The result was out of sequence lettering relative to the serial numbers on the late blue seal plain backs. This phenomenon occurs in the issues for other banks as well, but it is unusual. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 333 CONVENTION WENT OUT THE WINDOW A Comptroller-imposed title change caused a particularly unusual situation to occur with the 5-5- 5-5 and 10-10-10-20 Series of 1882 plates for The Mystic River National Bank, Mystic River, Connecticut (645). Mystic River lost its post office in 1887, then it location was renamed West Mystic, and the post office in Mystic Bridge that served it after 1887 was renamed Mystic in 1890. The Comptroller=s clerks imposed a title change in 1899 to reflect all of this! The script post office location of Mystic River was accordingly changed to Mystic. Breaking with tradition, they ordered new plates to reflect the change, instead of simply having Mystic River changed to Mystic in the postal location on the existing plates. The plate letters on the old plates would not have been changed had they been altered. The title change in effect was being treated as a formal title change. With new plates being prepared to mark the event, plate lettering should have started over at A for each denomination. This didn’t happen. The letters on the new plates were respectively advanced to E-F-G-H and D-E-F-B on the 5-5-5-5 and 10- 10-10-20 plates. The lettering treated the plates as replacement plates. The letters on them were totally out of character for new plates made to reflect a formal title change or for altered plates to reflect a Comptroller- imposed title change. The outcome simply was strange and unprecedented! Figure 11. Normally a Comptroller imposed title change to update the postal location would have been handled by altering Mystic River to Mystic on the plate (top) with no change in the plate letters. Instead, a new plate was ordered as if the change was formally requested by the bankers, which would have caused lettering to start over (bottom). Neither protocol was followed in this interesting instance. National Numismatic Collection, Smithsonian Institution photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 334 SUMMARY Plate letters were used on national bank notes in order to distinguish between subjects of the same denomination on a sheet. Original Series replacement plates were prepared by the bank note companies and were virtually identical to those that they replaced right down to the use of identical plate letters. The sequential advancement of plate letters on replacement plates was a Bureau of Engraving and Printing innovation that commenced in 1878 within the Series of 1875. Plates were commonly altered in order to display new information. The convention was not to change plate letters on altered plates, the one exception being that lettering was advanced on Series of 1882 and 1902 face plates when the securities clause was altered so they could be used to print date backs. The plate letters were left as was when plates were reentered. REFERENCES CITED AND SOURCES OF DATA Bureau of Engraving and Printing, 1875-1929a, Certified proofs of national bank note face and back plates: National Numismatic Collections, Museum of American History, Smithsonian Institution, Washington, DC. Bureau of Engraving and Printing, 1875-1929b, National bank note face plate history ledgers: Record Group 318, U. S. National Archives, College Park, MD Bureau of Engraving and Printing, various dates, Correspondence to and from the Bureau of Engraving and Printing: Record Group 318, U. S. National Archives, College Park, MD. Ridgely, William B., July 23, 1906, Circular letter to the cashiers of national banks advising them of the availability of 10-10-10- 10 plates: Comptroller of the Currency form 2116, Washington, DC. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 335 You Collect. We Protect. Learn more at: www.PCGS.com/Banknote PCGS.COM | THE STANDARD FOR THE RARE COIN INDUSTRY | FOLLOW @PCGSCOIN | ©2021 PROFESSIONAL COIN GRADING SERVICE | A DIVISION OF COLLECTORS UNIVERSE, INC. PCGS Banknote is the premier third-party certification service for paper currency. All banknotes graded and encapsulated by PCGS feature revolutionary Near-Field Communication (NFC) Anti-Counterfeiting Technology that enables collectors and dealers to instantly verify every holder and banknote within. VERIFY YOUR BANKNOTE WITH THE PCGS CERT VERIFICATION APP How the 1914 FRN Serial No. 1 San Francisco Red Seals Were saved by Lee Lofthus On April 29, 2011, Heritage Auctions sold a complete Serial Number 1 denomination set of Series of 1914 Federal Reserve notes from the Federal Reserve Bank of San Francisco. Documents at the National Archives in College Park, Maryland, reveal how these phenomenal notes came to be saved over a hundred years ago. Figure 1. If you think a number 1 1914 red seal Federal Reserve note is a show stopper, think about having a denomination set of them from the same district! Heritage Auction archives photo. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 337 The Series 1914 Federal Reserve notes were new in every sense. They were an entirely new class of bank currency. The designs were distinctly modern. Their backing provided an elasticity that gold certificates, silver certificates, and national bank notes could not match. As the first appointees of the just-created Federal Reserve Board began their jobs, one of the members wanted to save the very first notes from his hometown district. Creation of the Federal Reserve System The Federal Reserve Act was signed into law by President Woodrow Wilson on December 23, 1913. The Act established a central banking function for the nation with a governing board of seven members: five appointed by the President with the approval of the Senate, plus the Secretary of the Treasury and the Comptroller of the Currency as ex officio members. See Figure 2. The locations of the now-familiar twelve Federal Reserve districts were decided upon by Figure 2. The first members of the Federal Reserve Board, 1914. Back row, left to right: banker Paul M. Warburg; Comptroller of the Currency John Skelton Williams; banker William P. G. Harding; professor Adolph C. Miller. Front row: attorney Charles Sumner Hamlin, Governor of the Board (now called Chair); Secretary of the Treasury William Gibbs McAdoo; Vice Governor and railroad executive Frederic A. Delano. Adolph Miller, upper right, sought to save the No. 1 Federal Reserve notes from his hometown of San Francisco. Library of Congress photo, control no. (LCN) 2014698007. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 338 April of 1914, but the banks did not begin operation until November 16, 1914. The delay was caused in part by waiting for adequate supplies of Federal Reserve notes to be on hand when the banks opened. Meanwhile, the five appointed members of the Board were sworn into office on August 10, 1914. Federal Reserve Notes Section 16 of the Act provided for the issue of Federal Reserve notes. The notes were to be identified by a distinctive letter and serial number convention assigned to each Federal Reserve district. They were backed by United States bonds bearing the circulation privilege, but unlike national bank notes, the Federal Reserve banks could issue currency in excess of their capital stock, thus providing the desperately needed elasticity to the notes. Figure 3. The first $5 and $10 notes were issued to the Federal Reserve Bank of San Francisco on December 10, 1914. The higher denominations shown above arrived months later, delaying delivery of Miller’s set of notes until May 1915. Heritage Auctions archive photos. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 339 The new Federal Reserve notes were redeemable in gold on demand at the Treasury building in Washington or in gold or lawful money at any Federal Reserve bank. Issue of the notes was the responsibility of the Federal Reserve “agent” in each district. The chairman of each of the twelve district banks served as the agent for his respective bank. Many numismatic references describe the Series of 1914 Federal Reserve notes as plain in appearance. The head of the Bureau of Engraving and Printing thought just the opposite. In his annual report for 1914, Joseph E. Ralph, the bureau’s director, said “It is believed that the designs for these new notes are the most suitable and the most beautiful that have ever been placed on our paper issues. The backs are even more artistic than the faces and at the same time afford the greatest possible protection again counterfeiting.” The Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco opened with less than 25 employees working in rented office space in the back of the old Merchants National Bank of San Francisco. It had been only eight years since the great 1906 earthquake devastated San Francisco, but the city rebuilt and continued its progress as a dynamic banking center, and it became the choice for the western-most district. The bank served the states of California, Idaho, Nevada, Oregon, Utah, Washington, and most of Arizona. It also served the territories of Alaska and Hawaii. The Chairman and Agent for the bank was John C. Perrin, a Pasadena, California, banker who had worked for the passage of the Federal Reserve legislation. Adolph C. Miller Adolph Caspar Miller was appointed a member of the first Federal Reserve Board on August 10, 1914, and served until February 3, 1936. He was born in San Francisco in 1866. Miller earned his bachelor’s degree from the University of California, and a master’s degree from Harvard University. He spent over 20 years teaching, first economics at Harvard, then history and politics at the University of California, and later finance at Cornell and then the University of Chicago. Figure 4. John Perrin, Chairman and Federal Reserve Agent for the Federal Reserve Bank of San Francisco. Perrin and his board agreed to set aside the No. 1 notes of each denomination for Adolph Miller. Library of Congress photo LCN 2016884243. Figure 5. Adolph Miller was a professor of economics and finance, not a banker. The Federal Reserve Act required at least two of the five appointed members to have banking or finance experience. The Act directed the President to ensure the board had commercial, industrial and geographic diversity. Library of Congress photo LCN 2016865736. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 340 Miller entered government in 1913 as assistant to the secretary of the Interior, and Woodrow Wilson appointed him to the Federal Reserve Board in the summer of 1914. The San Francisco Serial Number 1 Notes While Miller’s academic career took him across the country, and he ultimately landed in Washington on the Federal Reserve Board, he kept his fondness for his hometown of San Francisco. Accordingly, after the Federal Reserve banks opened in mid-November, Miller contacted Federal Reserve Bank of San Francisco Chairman John Perrin and inquired whether the bank would allow him to purchase the serial number 1 notes. The following letters describe what transpired: December 4, 1914 Dear Professor Miller, At a full meeting of the board yesterday it was the unanimous opinion, and so voted, that we would have great pleasure in granting your request to set apart for your purchase No. 1 of our Federal Reserve notes of each denomination. Yours faithfully, John Perrin Federal Reserve Agent December 10, 1914 Dear Mr. Perrin, I am in receipt of your favor of the 4th inst., advising me that your board had unanimously voted to set apart for my purchase No. 1 of each denomination of the Federal reserve notes as they are issued. Will you please convey to the Board my warm appreciation for its kindness. I enclose herewith my check for $185.00 on the First National Bank of Berkeley, with which you can in such way as you may deem to be convenient and proper take up these notes as they are issued for circulation. Faithfully yours. A. C. Miller December 10, 1914 Dear Professor Miller: The first Federal Reserve notes have today been issued to this bank, $420,000 in fives and tens. I personally took precaution to have the No. 1 of each denomination put aside to be held for you until notes of the other denominations have been received. Respectfully, John Perrin Federal Reserve Agent December 15, 1914: Dear Professor Miller: Your letter of the 10th instant containing your check for $185 has been received. Federal Reserve notes of $5. and $10. denomination have been left in the paying teller’s cash, placed in a sealed envelope marked with your name and contents. There is no telling just how much delay there will be in our receiving denominations of $20., $50., and $100. It therefore seems advisable that I return your check, which is enclosed herewith. When we get the set complete, I will advise you and you may then send check payable to this bank. I have taken occasion to repeat the instructions regarding these to all those responsible for handling the notes in order there be no slip in complying with your wishes. Yours faithfully, John Perrin. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 341 December 21, 1914: Dear Mr. Perrin: Your letter of December 15th returning Mr. Miller’s check for $185.00 is at hand. Mr. Miller is very much pleased to know you have set aside for him notes Nos. 1 of the five and ten dollar denominations; and upon receipt of word from you that the Notes of twenty, fifty and one hundred dollar denominations are ready, he will be very glad to send his check as you suggest. Sincerely yours, Ray M. Gidney Private Secretary to Professor Miller May 24, 1915: Dear Professor Miller: Enclosed herewith by registered mail $185.00 in Federal Reserve notes, consisting of note No. 1 of each denomination. Respectfully, John Perrin, Chairman of the Board John Perrin died in 1931 at age 74. Adolph Miller died in 1953 at age 86. Miller’s serial No. 1 set was meticulously preserved when it reached the numismatic market in 2011. Ironically, after sending its No. 1 notes to Adolph Miller, the Federal Reserve Bank of San Francisco’s currency collection still holds a Series of 1914 No. 1 Red Seal. It is the G1A Chicago $50. I have no idea how that happened. Figure 6. Red seal FRNs were short-lived. The notes were plagued with serious fading of the red seals and serial numbers. Treasury Secretary McAdoo approved the change to blue seals and serials August 9, 1915. The first blue seal notes were delivered to the FRB of Dallas. Heritage Auctions archives photo. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 342 Sources Federal Reserve Act, original document signed by President Woodrow Wilson: https://fraser.stlouisfed.org/title/federal-reserve-act-966 Federal Reserve Bank of San Francisco history: https://www.frbsf.org/our-district/about/our-history/ & https://fraser.stlouisfed.org/title/annual-report-federal-reserve-bank-san-francisco-476/forty-years-federal- reserve-banking-economic-growth-twelfth-federal-reserve-district-1914-1954-18418 Federal Reserve history: https://www.federalreservehistory.org/time-period/feds-formative-years , and Allan Meltzer, A History of the Federal Reserve. vol. 1, 1913-1951. Univ Chicago Press, 2003. Federal Reserve large size notes and their origin: Huntoon/Yakes/Murray/Lofthus, The Series of 1914 and 1918 Federal Reserve Notes, Paper Money, May/June 2012 at https://www.spmc.org/home Miller, Perrin correspondence: Records of the Federal Reserve System, Board of Governors, Central Subject File 1913-1954, Record Group 82/450/64/35/6 Box 2601, File 610 FRNotes 1914-1915. Miller biography: https://www.federalreservehistory.org/people Ralph. Joseph, quote: Bureau of Engraving and Printing Annual Report for Fiscal Year 1914, Oct. 28, 1914, p. 9. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 343 High Serial Discovery $2 LT Series of 1928C Mule Small size U.S. variety collector Derek Higgins reeled in the highest reported serial number yet found on a $2 Legal Tender 1928C mule from eBay in March 2023. His find is C03473448A L180/290, which extends the known range by over half a million serials. The total reported range is now B97675359A- C03473448A, a ten percent increase. A mule is defined as a note with a micro-size plate serial number on one side and a macro on the other. This 1928C mule variety is characterized by a micro-size plate serial number on the face and a macro on the back. Such mules resulted from a mix of micro and macro plates on both the back and face presses during a transition period after the size of the plate serial numbers was increased at the request of the Secret Service so their agents could read the numbers on worn notes. The last Series of 1928C face plates were retired February 12, 1940. Consequently, the only macro backs that could have been mated with them to produce mules had to be printed before then. There were two such back printings. The first was a temporary early use of macro back plates between August 22 and September 7, 1939. The second began four and a half months later on January 22, 1940 when the macro back plates went into sustained regular production. All the known $2 Series of 1928C mules came from the August 22-September 7, 1939 press run. In contrast, the macro backs that were printed beginning January 22, 1940 were mated with 1928D faces later in 1940 owing to the lag time between back and face printings. The production of the Series of 1928C mules is inseparable from the equally scarce $2 Series of 1928D BA block non-mules. All the macro backs on the 1928D BA block notes were from the same August 22-September 7, 1939 press run. The use of 1928D faces had begun March 13, 1939 so the macro backs from that run served as the first macro back feed stock for them as well. The first $2 serial number printed in 1940 was C00872001A so the last of the serials in the BA block were used on the 1928C mules and the first of the 1928D non-mules in late 1939. The important early use of the macro backs owes its origin to a sudden temporary surge in $2 back production between August 11 and September 7, 1939 when about five million backs were ordered. Maximum production was reached on August 22 when eight of the newly available macro back plates were added to the presses to augment production from 26 micros. The Paper Column Peter Huntoon Figure 1. The serial number on this Series of 1928C mule printed in early 1940 extends the known serial number range for the variety by 10%. Derek Higgins photo. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 344 A total of 27 different micro back plates were used between August 11 and September 7, one being phased out before the eight macros were added on August 22. Production from the eight macros accounted for about 20 percent of the backs printed during this period. The backs moved forward to face production on or slightly before September 8, and were finished by December 15. At the time, about 43 percent of face production involved micro Series of 1928C plates, as a result, many of the macro backs found themselves muled with 1928C faces. These scarce 1928C mules were the result. Serial numbering of the group commenced at the end of December and ended in January. The most exciting find yet to be made in the$2 1928 Legal Tender series is a 1928C mule star note. It is possible no examples were printed; however, there is nothing to preclude it. Any change in our understanding of the production of scarce varieties such as these 1928C mules and 1928D BA non-mules is newsworthy. Specimens gradually have leaked into the market over the decades, most being in low grades. There were no collectors who were even aware of their existence let alone saving them back when they were current. At present, no true uncirculated examples have been found of either variety. Sources of Data Huntoon, Peter, Sep-Oct 1992, The $2 Legal Tender Series of 1928C and 1928D mules: Paper Money, v. 31, p. 156-161, 169. Huntoon, Peter, Jan-Feb 1997, $2 legal tender Series of 1928C mules and Series of 1928D BA block non-mules: Paper Money, v. 36, p.7-12. Huntoon, Peter, May-Jun 2001, Profile of two rarities, $2 legal tender Series of 1928C mule & Series of 1928D BA block non- mule: Paper Money, v. 40, p. 218-228. Huntoon, Peter, Jul-Aug 2012, Origin of marco plate numbers laid to Secret Service: Paper Money, v. 51, p. 294, 296, 316. Huntoon, Peter, Mar-Apr 2023, Legal tender Series of 1928 non-star serial number ranges: Paper Money, v. 62, p. 100-110 Table 1. Reported serial number ranges for the $2 LT Series of 1928 varieties. Series Treas.-Sec'ry First or Low Delivered Last or High Delivered First or Low Last or High 1928 Tate-Mellon A00000001A Apr 24, 1929 A96520744A 1933 *00000001A *00688584A 1928A Woods-Mellon A51108220A 1930 B08965670A 1934 *00732343A *01055383A 1928B Woods-Mills A86398443A 1933 B09004381A 1934 *00942054A *01053286A 1928C Julian-Morganthau B09008001A Jun 15, 1934 C25426677A 1941 *01062930A *02039694A 1928C mule Julian-Morganthau B97675354A 1939 C03473448A 1940 none reported 1928D mule Julian-Morganthau B86933784A 1939 D08430054A 1944 *01875119A *02619482A 1928D Julian-Morganthau B97269954A 1939 D35923578A 1946 *01972969A *03215773A 1928E Julian-Vinson D29712001A Feb 25, 1946 D39755123A 1947 *03212775A *03227372A 1928F Julian-Snyder D36192001A Sep 25, 1946 D82673798A 1950 *03236520A *03644508A 1928G Clark-Snyder D78552001A Jan 16, 1950 E30760000A May 6, 1953 *03648001A *04152000A SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 345 Union Occupation and the Fate of Baugh’s Cotton Mill in Alabama by Bill Gunther and Charles Derby  In the months leading to the Civil War, most Northerners, including President Abraham Lincoln, believed that many white Southerners were against secession. On this basis, Lincoln thought that a “conciliatory” approach to any occupation of Southern lands would foster Union support among these Southerners, and so he directed the Union military to follow this approach. Events would soon belie such beliefs, and the Union policy toward occupied North Alabama changed to one of aggression. Richard B. Baugh and his cotton manufacturing company is an example of how this change in policy affected the lives, commerce, and money in Alabama during and after the War. The Importance of Cotton Mills in the South Cotton, both in its raw form and as thread on spindles, was a key export for the South that generated important “hard money.” At the beginning of the Civil War, the South had 14 cotton mills, most located in North Alabama along the Tennessee Valley, a major cotton growing area. One of these mills was the Cabaniss Cotton Spinning Factory, which was the first mill in North Alabama and, in fact, the first in Alabama. It began operations sometime before 1820. Another was the Bell Factory, “the most widely known antebellum mill in the state due to its high level of production.” The Flint Manufacturing Company opened in 1850 and the McFarland Mill sometime before 1860. Of the 915 cotton mills in the United States in 1860, almost half were in the South. Most were small companies, although one mill employed some 2,000 workers. These mills became critically important to the South as it desperately tried to meet the clothing needs of its rapidly growing army. Confederate Quartermaster-General Abraham C. Myers recognized limitations in the ability of existing Southern cotton mills to meet the clothing needs of an initial army of 100,000 troops. A partial solution to the immediate problem was to pay troops “commutation” money of $21 for six months in lieu of clothing and to allow troops to purchase their needs from the private market. Myers later admitted that “for the first two years of the war, no arrangements had been completed by which clothing could be supplied to the troops.” The Confederate States Constitution prohibited the government from “fostering domestic industry,” so Myers could do very little to subsidize or directly engage with private mills. Consequently, the existing cotton mills in North Alabama were critically important in supplying the Confederate army with as much as they could produce. Rules of Engagement in 1861 to 1862 The “conciliatory” approach of President Lincoln regarding private property in occupied North Alabama led to a policy of continuing production in all cotton mills but using the products only for Union needs, thus depriving the “enemy” of these critical resources. Thus, cotton mills were left intact, but with a requirement that owners or managers sign a bond promising that production would not be provided, directly or indirectly, to the Confederate government. Such was the case with Robert B. Baugh, owner of a cotton mill in Florence, Alabama. This 10-cent note issued by cotton manufacturer Baugh, Kennedy & Co. in Tuscaloosa, Alabama, on July 18, 1865 (Gunther & Derby AO-451-$.10a), helps tell the story of how the Civil War affected not only the businesses of Southerners but also their money. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 346 With the mills continuing production but unable to sell to the Confederate government, local warehouses filled up quickly. Robert Patton, a wealthy factory owner, wrote to Alabama Governor John Gill Shorter that “the cotton and woolen factorys (sic) of Lauderdale County have entered into [an agreement] not to sell the goods made by them to the Confederate Government.” Foreign markets were closed due to the Union embargo, and Northern markets were closed due to the prohibition of all trade between the North and South. Patton’s recommendation to Gov. Shorter was to launch a military offensive to drive the occupiers from the area, thus freeing up inventory for the Southern market. Either directly or indirectly, those goods would be sold to the Confederate government, most likely at “speculative” prices. A military offensive was not needed, however, since the Union occupiers were directed to move in support of a military offensive near the Ohio River. Before the cotton goods could reach the Southern markets, however, a Confederate quartermaster “impressed” the goods, including those of Robert Baugh, at “prices greatly below the market price.” This action violated the bonds of Baugh and other mill owners and placed them and their plants at risk when the Union army returned. Rules of Engagement in 1863 to 1865 U. S. General Ormsby MacKnight Mitchel commanded the Army of Ohio when it arrived in North Alabama in April 1862. Gen. Mitchel believed that conciliation was “conditional” on the population’s “willingness to be conciliated” and he was willing to adjust that policy in real time. His position would be tested by local residents who began a pattern of defiance that included cutting communication lines, killing troops, shooting into trains, and burning cotton to prevent it from being “impressed” by Union forces. Gen. Mitchel substituted conciliation with “punitive civil-military policy designed to overwhelm” civil disobedience. Gen. Mitchel stated that in the future, such acts would be punished by death, “if the perpetrators can be identified.” In addition, captured cotton was sold by occupying troops to Northern merchants. An estimated 6,000 bales of cotton were “purchased” or otherwise taken according to this policy. This deprived Southern cotton growers of income and the Confederacy of raw material necessary for production of uniforms, tents, and other supplies. A new policy regarding civil disobedience – General Order 100 – was issued on April 24, 1863. This order allowed for the destruction of all non-combatant civilian property. U.S. General Henry Wager Halleck, commander in the Western Theater and largely the author of General Order 100, stated his position to General William T. Sherman: “I would destroy every mill and factory within reach which I did not want for my own use.” Southern Scrip: Evidence of Civilian Opposition Southerner’s negative views toward the occupiers is apparent from scrip notes issued by North Alabama merchants. When Union occupiers were in town, merchant scrip was redeemable in “Current Bank notes,” but when troops left the area, merchant scrip became redeemable in “Confederate Notes.” Examples of this change in scrip are given in the accompanying figure. The Case of Cotton Mill Owner Richard B. Baugh Richard Batte Baugh and his cotton manufacturing firm Baugh, Kennedy & Co. is an example of the devastating effects of the changing Northern policy on a Southern business. Baugh was born on September 7, 1817, in Giles County, Tennessee, about six miles north of the Alabama state line. By 1830, his family had relocated to Florence, in Lauderdale County, Alabama, where his father engaged in farming with the help of 13 slaves. Cotton was likely his main crop. By 1840, Richard’s father had passed away, and Richard had inherited 12 of his father’s slaves and continued to farm cotton, although that would change with time. Richard Baugh married Virginia Washington Leftwich (1820-1904) in 1840. By 1850, they had one son, and four more boys would join the family by 1862 with twins born that year. In 1850, Richard still had 12 slaves but he now claimed his occupation to be “county clerk” with a modest amount of real estate valued at only $1,400. By 1860, he listed his occupation as factory superintendent because he was now in the cotton manufacturing business and his 18 slaves worked in the factory. Richard reported real estate valued at $5,000 and personal estate a healthy $32,500. In the early fall of 1862, Baugh, along with other mill owners, entered into an agreement, under bond, with the occupying Union forces, promising not to sell anything from their cotton mills and other factories to the Confederate SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 347 government. They continued production, but rather than sell to the Union they placed those goods in local warehouses. Confederate Quartermaster Major George W. Jones, on sick leave to the area, became aware of the large stock of cotton goods and immediately impressed them for the Confederate government. This seizure violated, albeit involuntarily, the bond given by the local cotton mills. When the Union forces returned to the area in 1863, Baugh’s mill, along with others, were burned by General Grenville M. Dodge. Sometime after the loss of his factory, Baugh made his way 100 miles south to Tuscaloosa, where in 1863 he purchased the house shown here. By 1865, Baugh had entered into a partnership with John Spinks Kennedy, a friend from Florence. Kennedy was born on October 1, 1818, in Moore County, North Carolina. His family moved to Lauderdale County in the fall of 1828 where his father, Hiram, was a gunsmith and planter who in 1840 owned 28 slaves. John Kennedy was educated at LaGrange College and became a lawyer. He quickly engaged in local politics and served for three terms in Alabama’s General Assembly from Lauderdale Country. Although there is no direct evidence that Kennedy and Baugh were partners in Florence, they likely had some relationship, perhaps Kennedy was Baugh’s lawyer. In 1863, Kennedy had also[BG1][O2] moved from Florence to Tuscaloosa, and together Baugh and Kennedy formed Baugh, Kennedy & Co., cotton manufacturers on the city’s eastern outskirts. They had a large plant with 5,000 spindles and 120 looms that used 1,000 bales of raw cotton per year. The plant employed upward of 115 workers, and to accommodate their employees, they built a town, named Kennedale after founder John S. Kennedy. On April 4, 1865, just five days before the surrender at Appomattox, Union General John T. Croxton burned the “cotton thread and cloth mill of Baugh, Kennedy & Co.” This was the second time that Baugh was burned out of business by Union troops. Richard Baugh’s house in Tuscaloosa, purchased in 1863 for $23,000 in Confederate money. From Brown & Brown, 2010 (p. 77). The home was restored and repositioned on this lot in the 1920s and still exists today. Changes in scrip notes when Union troops occupied Alabama mill towns. Top row: Notes from merchants Hancock & Jones in Florence, Alabama, from January 1, 1862, were redeemable in “current Bank Notes” (left, AO-198-$.05a), but notes issued later in 1862 were redeemable in “Confederate Notes” (right, AO-198-$.50a). Bottom row: Notes from Johnson House in Huntsville, Alabama, in 1862 were “Redeemable in Current Bank Notes” (left, AO-247-$.05a), but later they were “Redeemable in Current Bank or Confederate Notes” (right, AO-247-$.05b). SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 348 The Scrip of Baugh and Kennedy The Baugh, Kennedy & Co. 10-cent scrip shown earlier was issued “By Military Authority” and dated July 18, 1865, which indicates that their cotton mill was back in operation by that time after the war. The average daily wage for adult females in the cotton goods industry in the South in 1860 was 71 cents, so a 10-cent note would probably represent the hourly rate in 1865. The 1870 Census records indicate that both Baugh and Kennedy were still in the cotton manufacturing business, but Baugh showed no assets while Kennedy listed assets of $79,000, which is $1.7 million in 2021 dollars. Reconstruction was apparently hard on Baugh. By 1880, at age 62, Baugh had given up his dream of manufacturing cotton and was listed as a store clerk. Kennedy also left the cotton business and was apparently practicing law in Tuscaloosa. The company went bankrupt in the 1880s and was sold, then reincorporated as Tuscaloosa Manufacturing Company. When the owner of that company died in 1896, the mill was placed in receivership. The town’s name was changed from Kennedale to Cottondale, which still exists in 2023. Only two scrip notes have been identified at public auctions, and both were 10-cent notes. The first note was in the Walter Jones Collection, serial number 385 and graded “Fine,” which sold in September 2001. The second note (shown in this article) was first sold in 2010, also as a raw note, and then sold again in 2016. If the serial numbers are any indication, the company likely issued about one thousand of these notes. No other notes by this issuer have been identified. The End of the Story The story of Richard Baugh and Baugh, Kennedy & Co. was likely similar to that of many other Alabama cotton producers of the time. The initial Union policy of “conciliatory engagement” was quickly abandoned and replaced with one of “burn and destroy” as a reaction to attacks on Union positions by locals. Relocating further south from occupied North Alabama offered only temporary relief to Baugh, who was burned out yet again, the last time just four days before the end of the War. Baugh died in 1888 at the age of 70, and Kennedy died in 1899 at the age of 80, both with memories they would rather forget. Sources Ash, Stephen V. When the Yankees Came: Conflict and Chaos in the Occupied South (Chapel Hill: The University of North Carolina Press, 1995). Brewer, Willis. Alabama: Her History, Resources, War Record and Public Men (Spartanburg, S.C.: The Reprint Company, Publishers, 1975, first published in 1872). Brown, Donald, and Hannah Brown. Tuscaloosa: Yesterday, Today & Tomorrow (Tuscaloosa: Beers & Associates, L.L.C., 2010), pp. 43 and 77. Danielson, Joseph Wesley. War’s Desolating Scourge: The Union’s Occupation of North Alabama (Lawrence: University Press of Kansas, 2012). Gunther, William, and Charles Derby. A Comprehensive Guide to Alabama Obsolete Notes, 1818-1885 (Privately Printed, 2020). Halleck, Henry, Wikipedia. Mitchel, Ormsby MacKnight, Wikipedia. National Bureau of Economic Research, Wages and Earnings in the United States, 1860-1890, www.nber.org/books/long60-1 Snow, Whitney Adriene. “Cotton Mill City: The Huntsville Textile Industry, 1880-1989.” Alabama Review, Vol. 63. No. 4, October 2010, pp. 243-281. Wilson, Harold S. Confederate Industry: Manufacturers and Quartermasters in the Civil War (Jackson: University Press of Mississippi, 2002). “The once splendid Kennedy Foster House dates from 1870 and was one of the few of the so-called mansion class built in Tuscaloosa during the difficult years of Reconstruction….The original owner was a partner in the Baugh Kennedy and Company, which began Tuscaloosa County’s first large cotton mill in 1871 at Kennedale (now Cottondale), East of town.” Today it is a rundown structure. Brown & Brown, 2010, p. 43. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 349 4TH ISSUE TREASURY SEAL PLATE PROOF SHEETS By Jerry Fochtman & Rick Melamed With the recent transfer of the 4th issue Treasury seal plate sheets from the Bureau of Engraving and Printing to the Smithsonian Institution, a wealth of new and exciting information in the form of 80+ Treasury seal proof plates, made specifically for the Liberty note, became available. These sheets, buried in the Treasury since 1891, have finally come public because of the diligence of Jerry Fochtman (long time Fractional Newsletter editor and researcher) and with the assistance of researcher Peter Huntoon. Not only was the proof seal design identical to the production notes, but the seal plate numbers on the proof sheets (regular and inverted) match the dozens known on regular issue Liberty notes. In this article we will explore the findings which give us a better understanding of how the series was produced. We can also finally make sense of the seal plate numbering system that has baffled researchers for decades. The big reveal is the 10¢ Liberty notes were printed in 2 radically different style sheets. The plain paper variety notes (Fr. 1257/58) were produced in a 20-subject sheet (4x5) and the blue end variety (Fr. 1259) were produced in a Tête-Beche (2x8) layout. Each style sheet had its own ascending plate number sequence; 1-49 for the regular sheet and 1-35 for the Tête-Beche sheet. The style of the font itself used for the plate numbers on the sheets was different, with a script-style number used for the 4x5 sheets and a block-style number used on the 2x8 sheets. It conclusively answers why there are different style seal plate numbers; some regular, some script and some inverted for the same plate number. Discovery #1 – Plain paper sheets contained (20) Liberty notes The 1st major discovery was the configuration of individual notes printed on a plain paper sheet. It was assumed that the Liberty notes were printed in sheets of 16 (4x4) as suggested in Stack’s May 2004 (Sale # III) sale of the vast John J. Ford collection (image #1). However, when the Treasury seal proof sheets were recently examined, we found there were actually 20 seals; hence 20 notes (4x5) in the plain paper sheet (Image #2).1 Image 1 – (16) subject partial Ford/Boyd sheet (courtesy of Stacks Bowers) 1 All 4th issue 10¢ Liberty notes were produced by 3rd party security printing firms and sent to the Treasury where the Treasury Seal was then applied prior to cutting the sheets into individual notes and releasing them to the public. As such, the National Currency Bureau only produced the necessary seal plates, which is why no other plate proofs exist in the Smithsonian archives. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 350 Image 2 – (20) Treasury seal proof sheet We now believe the Ford/Boyd sheet (the only sheet known to exist) was trimmed from 20 notes to 16 notes by the removal of the top row of notes. We know it was the top row removed since the seal plate number located at the intersection of the bottom left block of 4 notes on the plate proof was in the same location on the Ford sheet for the same plate number (The proof sheet in image #2 does not have enough detail to show the plate number in the sheet but have marked it with a circle…later in this article we show the plate number in an enlargement). The sheet is pedigreed from the F.C.C. Boyd collection and are all considered unique. Included in the Ford sale was a sheet of the 10¢ Liberty (shown), 15¢ Columbia, 25¢ Washington and 50¢ Lincoln. There are no known sheets for the 50¢ Dexter nor the 50¢ Stanton. The 10¢ Liberty, 15¢ Columbia, 25¢ Washington, 50¢ Lincoln notes along with the reverses only of Dexter and Stanton 50¢ notes were engraved and printed by either the American Bank Note Company or the National Bank Note Company under contract with the Treasury Dept. The Bureau of Engraving and Printing only engraved and printed the faces of the Dexter and Stanton issues. The 4th Issue also saw the incorporation of the Treasury Seal on all fractional currency notes from this issue and going forward to the 5th issue as well. The seal plates were engraved by and printed onto the sheets as the final step performed by the National Currency Bureau before the notes were turned over to the Treasury Department for release. This was a method whereby the production by the 3rd party firms could not be used as valid currency if stolen, since only the Bureau of Engraving and Printing could add the seals thus making the notes legal issue. Since 3rd party security firms were used to produce the 4th issue notes, there were no plate proofs of face or reverse images among the 1,775 fractional plate proofs that were in the Bureau of Engraving and Printing archives, which were transferred to the Smithsonian’s Museum of American History in 2016. However, since the seal plates were engraved by BEP, they too were sequentially numbered as with most all other plates for identification/inventory/tracking purposes. This is why the various plate numbers can be seen from time-to-time on various notes in same red ink as the seals. We have been fortunate to have the ability to examine all the digital images that have been made of the plate proofs that were included in the BEP accession. Discovery #2 – Blue end Liberty notes were printed in a Tête-Beche style The 2nd discovery was the Treasury seals used in Liberty fractionals were also produced in a second style sheet; a Tête-Beche 16 note layout (2x8) of the blue fiber end notes (Fr. 1259). (Tête-Beche - French for head to tail - is a note printed upside down relative to another). Up until now, it was not known that the Liberty fractional was produced in 2 formats. Shown in image #3 is an actual Tête-Beche Treasury seal sheet paired on the right by what an uncut sheet might have looked like (No blue end Liberty sheets are known to exist, the sheet of notes shown to the right in image #3 is not real; but rather a digital recreation.) SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 351 Image 3 - Tête-Beche proof sheet (left) – digitally recreated production sheet (right) On the proof sheet, please note the (2) seal plate #10’s. One located in the top margin and in regular orientation, the other located at the intersection of the bottom 4 notes and is inverted. DISCOVERY #3 – Better understanding of Liberty seal plate numbers The 3rd discovery is a more informed understanding of seal plate numbers including the inverted plate numbers that show up with some frequency. Regarding the inverts, the Treasury seal plates of the Tête-Beche format were engraved twice on each plate, with a plate number (upside-down and right-side up on opposite ends of each plate). The layout of the Tête-Beche sheet combined with the upside-down/right side up positioning of the plate numbers makes their existence on a single note a fairly common occurrence. Additionally, there are different Liberty notes containing the same plate number which appears either inverted or regular. In a previous article about 4th issue seal plate numbers in Paper Money we asked rhetorically: ”How were duplicate plate numbers in 2 different styles possible?” Two different SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 352 scenarios were suggested: (1) A single Treasury seal plate may have been engraved twice with the same plate number; or (2) two separate seal plates were engraved with the same plate number. The answer is now known albeit somewhat convoluted. There is a single seal plate number engraved on the 4x5 plain paper sheet; and on most of the Tête-Beche Treasury seal sheets, the seal plate number was engraved in two locations. Since the numbering sequence repeated itself for the different sheet types (starting with #1 in ascending order) regular sheets or Tête-Beche), it is possible to have 3 different examples of the same plate number. This is illustrated with plate number 18 (image #4). Shown is an example from the 4x5 layout sheet with an ornate #18… and twice, regular and inverted - in block style lettering, on the Tête-Beche sheet. Image #4 SEAL PLATE NUMBER CHARTS The 4th issue 10¢ seal plate number charts published in the Rob Kravitz fractional book (A Collector’s Guide to Postage & Fractional Currency 2012) contained only 41 seal plate number (1-41) of the 10¢ denomination. The chart mixed plate numbers of the blue fiber end and plain paper notes…as well as duplicate, but different style seal plate numbers – regular and inverted. With all the new information, our understanding has been clarified. We now know there were at least 84 plates used in production. The updated seal plate charts should now read as follows: 20 Note (4x5) Image Layout – Plate Numbers: 1-49 (49 plates are known to exist so far except for number 48 - which was never engraved onto the seal plate). These plate numbers were all engraved in ornate/script style numbers. 16 Note (2x8) Tête-Beche layout – Plate Numbers: 1-35 (35 plates are known to exist so far – 2 plate numbers per sheet - one regular, one inverted). These plate numbers were all engraved in block-style number. We state “known to exist so far” because only the large seal variety of Tête-Beche sigil proof sheets have been seen/located. We would have to presume that there were more than (35) Tête-Beche seal plates used in the 4th issue 10¢ note production as separate plates would have been used for the small seal variety (Fr. 1261). The sheet design plates of the face were made by the American Bank Note Co. and we don't know how many they made or used, since only the printed sheets were delivered to the Treasury, who then applied the seals. The same is true for the reverse image plates, made/printed by the National Bank Note Co. Since any records of the image plates would have been the property of the respective security printing firm we cannot take the leap from the number of seal plates that we know about to the note image plates. PLATE NUMBERS ON BLUE FIBER END FRACTIONALS This was an “of course” moment. A Tête-Beche layout with two (2) vertical rows of 8 notes containing a single blue fiber band down the center of the sheet makes a lot more sense than a 4x5 sheet with several blue fiber bands. We observed that the Tête-Beche plate numbers were in a plainer font. Shown below are 9 different blue fiber end examples (image #5); some inverted and some regular. Notice how the plate numbers are always on the blue end, right side of the note, proving the plate numbers were in the center of the sheet. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 353 Image 5 ADDITIONAL OBSERVATIONS 1. Plate number positions on the 4th Issue 10¢ 2x8 Tête-Beche Sigil Proofs: a. Plates #1-7 Plate number on top in correct orientation. The number is engraved in such a manner that when looking at the one on the top of the sheet its right-side up and the number on the bottom is upside down. Flip the sheet and the same is again true. But then so are the images. b. Plate #8: The plate number is located in the half-circle of the edge marker and the other is at the other end but at the intersection of the last 4 notes. The engraved number in both places is the same orientation, so depending on the orientation of the full image, their either both right-side up, or both upside down. c. Plate #9: has an underscore to differentiate it as a 9, as opposed to a 6 (image #6). When the sheet is positioned with the edge one on the top the 9 is correctly orientated, but the other 9, located at the intersection of the bottom 4 notes, is inverted. Note: this is different than plate 8 where they both were oriented the same way. d. Plates #10-26, 28-35: Follows the same location and orientation pattern as plate #9 …except none are underlined. e. Plate #27: There is no plate number engraved on the proof sheet. The sheet itself is both hand-labeled and stamped as plate #27 (image #7). With the blue end example shown here, we have to assume the plate number was added after the proof sheet was produced. Image 6 Image 7 SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 354 2. Plate number positions on the 4th issue 10¢ 4x5 regular layout sigil proofs a. Plates #1-47, 49: The plate number is the same orientation as the sigils, so there would be no inverted plate number. Depending upon the how individual notes were cut from the sheet, the seal plate number could appear on any of the 4 corners of a note b. Plate #48: There is no discernable engraved plate number on the proof sheet, only what is stamped and written on the sheet itself. 3. In all the 4th issue seal/sigil proofs there are no examples with small seals...only large seals. So we don't have data to know if these were only in one particular layout form or not yet. Still waiting on some more information and until the Smithsonian re-opens for researchers this cannot be pursued...and we may never really find-out. We do, however, find it odd that there weren't any sigil plate proof sheets. 4. One doesn't have to measure the seals to determine if it's small (Fr. 1261 – 38mm) or large (Fr. 1259 – 40mm). There is a difference in the shield's border. Milt Friedberg in his Fractional Encyclopedia didn't point it out on the 10¢ note, but did on the 15¢ note. 5. Since the Fr. 1261 also has the blue fibers in the right-end of the note, we can conclude that it is from a Tête-Beche sheet and therefore, the small seal was from the same layout seal plate. Since the Fr. 1261 is the only note with small seals, it would be safe to presume that there was at least at one time, more than 1 small seal Tête-Beche plates. 6. There is not a single example of the Fr. 1261 (small seal) with any plate number. All documented plate numbers are on the Fr. 1257-1259. A search of the Heritage auction archives (over 500 notes) failed to come up with a single Fr. 1261 with a seal plate number. We have to conclude that any seal plate used for the Fr. 1261 had the seal plate number engraved outside the seal plate area or no plate number was ever engraved onto the plate. One other possible scenario that comes to mind is when Treasury officials viewed the individual blue end Fr. 1259 large seal notes, they discovered plate numbers (regular and inverted) made their way to the finished product. We could envision that they did not like the results and redesigned a new Treasury seal plate and moved the plate number to far edge of the sheet far enough away from the seals as not to be included when the sheet was cut into individual notes. 7. All of the plate numbers on the 4x5 seal proofs are located at the intersection of the bottom left 4 notes except for plate #2, which is located at the intersection of the bottom middle 4 notes. It’s important to restate that the lowermost plate number of the sheet is located at the intersection of the bottom 4 notes. That convenient placement lends itself to be easily captured when the sheet is cut into individual notes. Shown to the left is an excised image of the bottom 4 seals from the proof sheet with the seal plate number 10 (enlarged) in the center (image #8). Also note how the seals on the left are right side up and the ones on the right are upside down…proving that unequivocally that blue end Liberty notes were printed in a Tête-Beche format. At the top is a hand stamp: “Bureau of Engraving and Printing Jan 23 1891.” Image 9. On the Fr. 1261 small seal (left), the border of the shield is striped as we see from the enlarged “E” from the “TEN” vs. the example on the right which is basically solid. The shield border enlargements clearly show the differences. Small Seal Large SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 355 8. Inverted seal plate numbers only appear on the blue end large seal (Fr. 1259) Liberty notes that were produced in the Tête-Beche style. There are no inverted seal plate numbers on the plain paper (Fr. 1257-58) Liberty notes conclusively proven with the examination of the 49 plain paper seal proof sheets. 9. Of the hundreds of Liberty notes with seal plate numbers that have been observed and documented, there is only one example with a plate number over 40; a single note with plate number 41. Is it possible that sheet plate’s numbers 42-49 were never used in production? Perhaps the introduction of the 5th issue fractional rendered the high numbered seal plates obsolete. 10. There exist two (2) plates of 5x5 seal proofs, numbered plates 1 & 2. However, these seal plates appear never to have ever been used. The seal itself is slightly different, as it has a ring around the outer points of the seal, thereby enclosing the seal within the ring, as opposed to the other seals which had the points at the outer edge of the seal. There is a “hint” that the outer ring on the seal may have been removed on the 4x5 plates, as periodically there appears to be a weak hint of that outer ring around parts of some seals on some plate proofs. QUESTIONS 1. With the knowledge that the 4th issue Stanton and now the Liberty notes were printed in the Tête-Beche style, it begs the question about the sheet layouts of the 25¢ Washington and 15¢ Columbia blue end notes. Can we assume that any 4th issue note with blue end fibers would have been produced in a Tête-Beche format? 2. Were the plain paper and Tête-Beche sheets released concurrently or did the Tête-Beche sheet follow the plain paper variety as an anti-counterfeiting measure? 3. Why were the Tête-Beche sheets engraved with 2 plate numbers and why was the lower number engraved inverted? The top of the sheet would be easier to discern with a single plate number. 4. Why did the Treasury design a smaller seal? Which came first, the small seal or the large seal? Or were they released concurrently? 5. Were the other uncut 4th issue sheets from the May 2004 Ford sale (which are presumed unique) also trimmed from a larger sheet? In the Ford sale there were sheets of (12) 15¢ Columbia’s, 25¢ Washington’s and 50¢ Lincoln’s. With the knowledge that the Liberty notes were a 20 subject sheet trimmed to 16 notes, is it a possibility the other denominations were pared down as well? It is not hyperbole when we state that this is one of the most important fractional discoveries in recent years. It has given us a much clearer understanding of how this series was produced. It is amazing that this finally reached the collector community 150 years after they were produced. Who knows what other fascinating information is waiting to be rediscovered. Image 10. Shown is an enlargement of the Treasury seal. The seal on the left is a regular seal; the one on the right is the unused seal with the rounded circular (un-hashed) border. The following seals were taken from the Smithsonian Treasury seal proofs. Image 11 SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 356 Neither Chit nor Chizzler by Terry A. Bryan The title is a phrase that I saw in a story recently. In context it means “nobody else born between two siblings years apart." I thought that I knew almost every peculiar phrase in the language, but I had never seen that one. Online slang and phrase dictionaries were no help, but the definitions of the words revealed that a chit is a silly young girl and a chizzler is a person retaining loose living habits beyond the usual age where maturity causes giving up such things (e.g. toga parties). Being reminded of the other meaning of chit inspired this article. Starting off with definitions is boring, and if you agree, read no further. Dictionary.com has that chits are signed notes for money owed for food, drink, etc., or any receipt, voucher, or similar document, especially of an informal nature, or (chiefly British) a note; short memorandum. The origin of the word is more interesting: British officers in India received social and business messages from the hands of servants (“a chitty for you, Sahib”). Small written notes are “chitty” in Hindi. Chits are collected in our hobby. An eBay search turns up mostly military club bar tickets. POW purchases were often paid in chits done up in card covers. As with the agricultural tokens in this article, the motive is to avoid the need for cash in special circumstances. Very few eBay listings are found for agricultural chits described in this article. Of course, eBay provides no examples of the precise use of words and these items are described variously. Tokens are vouchers exchanged in place of cash. In the broad definition of money, tokens qualify. In the hobby, tokens are usually metal, but paper tokens, chits, tickets can serve as money substitutes. Military and agricultural chits qualify as tokens. They are a temporary substitute for cash. Cardboard pickers’ checks serve the identical purpose as metal tokens, and they are often more easily attributed. In many areas of the country some crops require extra hands at harvest time. There are still crops that have resisted mechanical picking. Strawberries, blueberries, apples and pears are the most common domestic crops for which years of genetic engineering and artificial intelligence-guided machines have not perfected harvesting. Upwards of 30% of U.S. fruit and vegetable acreage is still harvested by hand. Up to WWII, cities spilled out temporary workers to area farms in the rush to gather the crop in. Processing the crop in canning factories, packing plants and fruit dryers also required seasonal workers. My tour of a pecan nut factory revealed that the ladies culling the nuts worked the harvest weeks and shifted to the local shirt factory during the winter. (Mechanical pecan shellers were not introduced until the 1960s. Humans still do the inspection of the product.) From the 1860s to the 1930s, some families made the harvest pilgrimage a kind of camping-out vacation from the foul air of the cities. After WWII, special arrangements for importing temporary workers, especially from Mexico through government programs, were brought to many farms. “Migrant” used to refer to temporary workers with no intention of settling permanently. In the late 20th century, labor brokers in Mexico or Caribbean Islands contracted with farmers to supply temporary employees. Some migrants might return to the same farm year after year where the conditions were especially pleasant and the pay good. Before Federal fair employment practices legislation, living conditions and pay for migrant workers varied greatly from miserable to not so bad. Paper and cardboard picker’s tokens are usually small rectangles often in colors to distinguish denominations. Some are tickets torn from a roll.  SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 357 Short-term employment created problems for the farmers. Small operations were cash-poor until the crop was successfully picked and sold. A gang of workers and whole families had to be housed and paid somehow. Tokens, chits, checks, tickets, whatever they were termed locally, provided a method of payment. Advantages were: 1. The farmer did not have to have cash on hand daily, 2. Workers could be paid “by the piece” for picking, 3. Local stores might agree to redeem chits for basic needs, 4. Bookkeeping was simplified, 5. Workers had no cash for evening celebration that might render them unreliable or absent the next day.  Areas where the climate encouraged the hand-picked crops are centers for collecting agricultural tokens. Something of the sort is found for almost all states. Local customs determined the terminology applied to the hobby. Keywords are “Berry Tickets”, “Strawberry Tickets”, “Chits”, “Pickers’ Tokens”, “Picker’s Checks”, “Coupons”, and for some eBay sellers, “Business Tokens”, a somewhat deceptive term. Tokens distributed to workers in the field in the 20th century were mostly cardboard or paper. Canning factories used more metal tokens, owing to the damp environment. Agricultural tokens were denominated to fit the crops being harvested or processed. Quarts for berries, bushels for larger produce, buckets for peelers in canning factories. Higher numbers represented filling a whole tray or box of quart containers, perhaps eight to a tray for strawberries. Fewer farms denominated in cents, resulting in actual “good for” tokens. The farmer brought his chits/tokens/tickets to the field. A locked box would be opened on the tailgate of the wagon or truck. Bins or spindles held the different denominations appropriate to the day’s crop. Tokens were exchanged as the workers presented their pickings at the central location, returning to the rows of bushes or trees for more. At the end of a pay period the tokens were traded for cash. The tokens were returned to the bins in the box for the next round of picking. Often, crude or recycled boxes were adapted for the tokens; add a lid, hasp and padlock, and you have a till for your berry tickets. (see figure below) Collectability of these items is limited by the difficulty of identifying the issuer and location. There are many agricultural tokens that remain mavericks, i.e. unidentified. Often the farmer’s or factory’s initials and a numeral are the only information present. Some have a town name, making them more desirable…little research needed. There is even recycling by overprinting a new name on some. Collectors have culled directories for farmers with the right initials. Tenant farmers may not appear in public records. The area where the tokens are found may narrow the ID down. Very few are dated or accurately date-able; some were used in the 1960s. Canning factories are particularly complex, often destroyed by fire, often owned by successive chains of partners. Even the users could not standardize their terms, variously checks, tickets, chits, tokens, and occasionally referred by collectors as coupons. Tokens denominated in cents are definitely in the minority.  Even uncut sheets of tokens are occasionally available. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 358 We collect ephemera. Money items were intended for use, not preservation. When a category of numismatic item is rendered obsolete by practicality or custom, it disappears. It is up to us to preserve its history. References: Search the terms above. www.dictionary.com. Burton, R. Lee. Canning Factories of the Eastern Shore. Centreville: Tidewater. Davis, Dorothy Salisbury. “By the Scruff of the Soul” (short story), 1963. Kee, Ed. Saving Our Harvest. Baltimore: CTI, 2006. Sandler, Gilbert. “Picker Checks—Currency of the Crops”. www.archives.ubalt.edu. Schena, Eric. “Picker’s Checks”. www.worthpoint.com/dictionary. Stump, Bryce. “Token Appreciation”. Salisbury (Md) Times, 2003. “Migrant Farm Workers”. www.archives.gov. “Patent Lookup”. www.uspto.gov. “Search” (above mentioned items). www.ebay.com Thanks to E. D. Bryan, M.D., Robert W. Ross III, Bo Hayman, Joseph E. Boling, and Lee Burton for advice and research. An 1870s countertop bootblacking (shoe polish) display was been adapted with a hasp for a field dispenser of berry tickets.  An 1871 patent date adorns a locked walnut box, referred in the patent as a “Fruit Grower’s Check Holder” under the patent heading “Card Rack”. A shoulder strap facilitates carrying to the field.  Brass tokens in the field register are of different shapes for each denomination. A number and the farmer’s initials are the only information. The box was found at the original owner’s old farm, thus making the identification. This farm also used cardboard chits.  SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 359 215 COLONIAL CURRENCY notes from the JOHN J. FORD Collection. Featuring several FINEST KNOWN and UNIQUE Notes Including 30 ERIC NEWMAN, The Early Paper Money of America PLATE NOTES. NY. July 20, 1711. 4s. Fr NY-13. PCGS Choice XF-45. Newman Plate Note. Ford Sale 3/ Lot 612 PA. January 17, 1723/24. 20s. Fr PA-15. PCGS XF-40. Newman Plate Note. Ford Sale 3 / Lot 639 RI, February 2, 1741/42, 6d, Fr RI-43, PCGS About UNC 50, Newman Plate Note Ford Sale 3 / Lot 569 RI, August 16, 1710, 2s, Fr RI-1, PCGS VG-10 Details, Newman Plate Note, maybe Unique Ford Sale 3 / Lot 556 VT, February 1781, 40s, Fr VT-7 PCGS Choice VF-35 Details Ford Sale 3 / Lot 847 Signifi cant Colonial Notes from the John J. Ford Collection Sales To participate in this exciting event, send your email/contact information to Kagin’s Auctions by email today at info@kagins.com or call Don Kagin at 888-8KAGINS (852-4467). Part 2 of 2 Live Online Auctions: September 23rd, 2023, 4:00pm Pacifi c, 7:00pm Eastern THE ALTERED 4TH PRINTING CONFEDERATE CHEMICOGRAPH BACKS by Peter Bertram If you’re not familiar with the Confederate Chemicograph Backs, this is the perfect time and place to find out a little bit about them. To do so, please see Frank Clark’s review (in this issue) of my newest book; The Confederate Chemicograph Backs Revisited, 2nd Edition. In the meantime, let’s look at the 4th Printing reverses altered to be sold as 3rd Printings. About 1948 collector/dealer Philip Chase finally completed his multiyear search for a set of the six Chemicograph printing plates ($500, $100, $50, $20, $10, and $5). He then printed 1,000 six-piece sets of the currency backs and advertised them in The Numismatist for sale to collectors. This was the 3rd printing of the Chemicograph backs and they were done on white, watermarked bond paper with blank reverses. NOTE: NO CHASE CHEMICOGRAPH BACKS WERE PRINTED THIS SMALLER SIZE Here’s how they did it! Altered Fourth Printing Reverse 1 Back, trimmed to look like a Third Printing Back Size about 75.5mm x 182.5mm, may vary slightly, but not much Third Printing Back - as issued with a blank reverse Normal size, about 92.5mm x 214.5mm SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 361 Typical markings on normal size Fourth Printing Reverse 1 Backs (no SDC seal!) Authentic Fourth Printing Reverse 1 Note trim lines and Straker text. Normal size, about 92.5mm x 214.5mm Altered Fourth Printing Reverse 1 The note has been cut down just inside of the Trim Lines and above the Straker text Size 75.5mm x 182.5mm Intent is to sell it as a much rarer Third Printing Back! By 1957 Chase had only sold 175 of his Third Printing sets, so he decided to donate the plates to the Smithsonian Institution and the remaining 825 prints to his alma mater Dartmouth College. But he first printed trim lines on the reverses to show the sizes of the 1864 Confederate Treasury Notes and/or for collectors to be able to trim down their Chemicograph Backs to display them with 1864 Treasury notes. He also added “Printed from a genuine S. Straker & Sons London Plate” below and those two changes turned his remaining 825 Third Printing sets into Fourth Printing sets! Chase also designed a tiny green, circular ”SDC” (Smithsonian/Dartmouth/College) stamp to mark the reverse of his Chemicograph Backs as “SDC sets”. They would then be the main element in his marketing plan for his remaining notes. So, to summarize and clarify how many Chemicograph Sets were made, let’s start with Philip Chase’s 1,000 sets with blank reverses that he produced in 1949. Those were the Third Printings and he sold 175 of them. Next, in 1958 he printed the “Trim Lines” and “Straker text” on the reverse of his remaining 825 sets, making them the Fourth Printing. Finally he stamped the SDC green, circular stamp on 425 of his Fourth Printing sets. Our totals are therefore 175 Third Printing sets (blank reverse), 400 Fourth Printing Reverse 1 sets (trim lines and Straker text, no SDC stamp), and 425 Fourth Printing Reverse 2 sets (trim lines and Straker text, with SDC stamp). To date I have encountered ten altered Fourth Printing Reverse 1 Backs (4 notes and a six-piece set). So please BEWARE - if I found these, there are likely to be more out there! SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 362 The Confederate Chemicograph Backs Revisited 2nd Edition 2023 by Peter Bertram Reviewed by Frank Clark This subject was first covered by SPMC member Peter Bertram in his Confederate Numismatica 2018 Supplement One. A large amount of new material for this subject has come to light in the last few years and therefore the author has published this new expanded volume. The new 109 page profusely illustrated soft cover work discusses the history of the Chemicograph back plates that were ordered from S. Straker & Sons of London. These backs were intended for the February 17, 1864 Confederate note issue. Over 600 printing plates were prepared for the $500-$5 denominations. These plates were spread over three different shipments for the blockade run from Nassau in the Bahamas to Wilmington, North Carolina. None of the plates made it safely through the Union blockade. However, a few plates were discovered after the Civil War and were used to produce four different printings from the late 1870s until the late 1950s. Mr. Bertram goes into great detail about the various post-war printings produced from the plates. How one tells these printings apart are clearly and concisely described in both words and pictures with large arrows pointing to the areas on the notes being discussed. The book closes with an extensive bibliography followed by a price guide that includes several collateral items within this collecting niche. The final two pages condense much of the information into a needed Quick Reference that serves to summarize the four printings of the Chemicograph backs with images of the notes and page numbers referring to additional information in the book. Collectors and dealers will find themselves going to these pages frequently. Though the Chemicograph backs did not reach the circulation stage, they are an important part of Confederate numismatics. This short book is long on knowledge on the subject. Every Confederate collector should add this important reference to their library because probably sooner rather than later, the collector will need to make an informed decision on a Chemicograph back. The book may be ordered at Amazon.com or directly from the author for $22 plus $4 for shipping. If an autographed copy by the author is desired, please request it when ordering directly from Mr. Bertram. He will gladly sign copies ordered from him. Dealer inquiries are also invited. peterbatl@aol.com. Peter Bertram, PO Box 924391, Norcross, GA 30010-4391. 100 APPENDIX III: CHEMICOGRAPH BACKS IN THIAN MASTER ALBUMS C906 Thian Master Album : To Dr. Walter S. Harban, May 18, 1908 Restored Album Covers Images courtesy Dr Joe Gains Collection This album includes C164AP, $500 Proof, and C165AP, $100 Proof, as well as a first printing Chemicograph set (C175). Note the handwritten inscription “1 of 13 Book” at top left on the Dedication page. I’m inclined to believe this might be Thian’s 13th “Master Album”. I am, however, less sure about the “1 of” and can’t imagine what it might be in reference to. It is, however, quite possible that by 1908 Thian had made 13 of his Master Albums. In an email exchange about this with David Fanning (Kolbe & Fanning, numislit.com), he noted that “… actually, 13 sounds like a perfectly plausible number.” In any case, while C906 could very well have been Thian’s 13th Master Album, it still wasn’t his last. At 78 years old he still had at least one more to go (C907). SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 363 QUICK REFERENCE 109 SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 364 Lyn Knight Currency Auct ions If you are buying notes... You’ll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful “grand format” catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: Great Commission Rates Cash Advances Expert Cataloging Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. 800-243-5211 - 913-338-3779 - Fax 913-338-4754 Email: lyn@lynknight.com - support@lynknight.c om Whether you’re buying or selling, visit our website: www.lynknight.com Fr. 379a $1,000 1890 T.N. Grand Watermelon Sold for $1,092,500 Fr. 183c $500 1863 L.T. Sold for $621,000 Fr. 328 $50 1880 S.C. Sold for $287,500 Lyn Knight Currency Auctions Deal with the Leading Auction Company in United States Currency Unissued $10 note of the State of South Carolina dated January 1866. Gene Hessler, in his book The Engraver’s Line, has identified the portrait on the left side of the note as General William Butler and not General Daniel Morgan, as has commonly been accepted. Two additional varieties of this note were later issued in the early 1870s. The central vignette is named “The Rescue” and depicts Sergeant William Jasper freeing captives taken by the British during the Revolutionary War. It’s Not Just About the Vignettes: A Case of Mistaken Identity by Tony Chibbaro In this day and age, it is unusual for a portrait of a human being to remain misidentified for any length of time. With just about everyone in the world hyper-focused on social media and the internet, an error in identification of an online image doesn’t usually persist for very long before it is corrected. That’s why it’s somewhat surprising that one of the portraits on a common South Carolina obsolete note has remained misattributed for at least a century. This intriguing story has its roots in my ongoing attempt to identify all of the portraits appearing on obsolete currency issued within the state of South Carolina. Some readers may recall a recent article in these pages outlining this project. While pursuing this goal, I happened upon an entry in Gene Hessler’s superlative reference book, The Engraver’s Line. In this encyclopedic work published in 1993, Hessler identified the portrait on the left side of the $10 bill of the State of South Carolina as being that of General William Butler. This was disconcerting to me because I was very familiar with this note and had believed, like all other collectors of South Carolina currency, that the portrait was one of General Daniel Morgan, the commander of the victorious Patriot forces in the January 1781 Battle of Cowpens. Viewing Hessler’s attribution with a healthy dose of skepticism, I immediately sought to prove or disprove its veracity. So, I duly opened the Google search tab on my computer’s browser and easily located a number of images of Daniel Morgan. All showed an elderly man, aged 60 to 70, with a thin face and a long nose - nothing like the young officer in his thirties depicted on the note in question. Next, I searched for images of General William Butler of South Carolina and was instantly rewarded with a scan of a print which perfectly matched the portrait on the note and was undoubtedly used as the model for its engraving. William Butler, I soon learned, was one of the lesser-known Revolutionary War heroes from South Carolina (perhaps one of the reasons why his portrait remained misidentified for so long). His is not a name that is usually encountered in the same sentence with those of William Moultrie, Andrew Pickens, Thomas Sumter, Daniel Morgan, or Francis Marion. Yet bankers of the mid-1800s chose to place his portrait on some of the banknotes they ordered. Why? That is a question that may never be answered satisfactorily, but part of the reason may be that he was the patriarch of a prominent political family in South Carolina. Butler (1759-1821) was born in Prince William County, Virginia, and moved to South Carolina before reaching adulthood. By the tender age of 16, he had enlisted in the local militia and served under Colonel Richard Richardson in the 1775 Snow Campaign against Loyalist recruiting centers in South Carolina. The following year, he participated in General Andrew Williamson’s expedition against the Cherokee. By 1779, he had been promoted to lieutenant and served under General Benjamin Lincoln in Pulaski’s Legion and later under General Andrew Pickens at the Siege of Augusta. By 1781, he had been promoted again, this time to captain under General William Henderson. Butler ended the war as a member of the Mounted Rangers, falling again under the command of General Andrew Pickens. In 1787, he was elected to the South Carolina General Assembly, was subsequently reelected to three additional terms, and, in 1791, became the sheriff of Ninety-Six District. In 1801, Butler was elected to U.S. Congress and split his time between South Carolina and Washington until retiring from politics in 1813. Having earlier attained the rank of major general in the South Carolina militia, he was given command of troops raised for the defense of the state during the War of 1812. Butler’s health deteriorated in the early 1820s and he died at his plantation near Saluda in 1821. He was buried in the nearby Butler Family Cemetery. Two of his sons, William Butler, Jr., and Andrew Pickens Butler, followed in his footsteps as U.S. Congressmen, while a third, Pierce Mason Butler, served two years as governor of South Carolina. The latter son was killed, however, in 1847 during the Battle of Churubusco, the highest-ranking member of the Palmetto Regiment to die in the Mexican-American War. Photograph of an oil painting of William Butler, circa 1790. This image matches perfectly the portrait on the note illustrated above. Courtesy of the South Caroliniana Library, Columbia, South Carolina. Enlargement of the portrait vignette of William Butler appearing on the $10 note illustrated above. Compare it to the oil painting above. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 366 Now that I had no choice but to accept this new identification of the portrait, I set out to discover how such a mistake could have been made. I promptly looked up the note in my copy of Austin Sheheen’s 2003 reference work entitled South Carolina Obsolete Notes and Scrip. It clearly identifies the portrait as that of Daniel Morgan and not William Butler. Sheheen’s earlier booklet, printed in 1960 and entitled South Carolina Obsolete Notes, provided the same misattribution. Grover Criswell also misidentified the portrait in his 1964 book, Confederate and Southern States Currency. Volume 4 of James Haxby’s monumental reference work, United States Obsolete Bank Notes (published in 1988), does not list this particular note, but does picture a similar one with the same portrait vignette - a $10 note issued by the Bank of the State of South Carolina in early 1861 (see below). Even Roger Durand, the author of three separate works identifying portraits found on banknotes, got it wrong. Durand attributed this one as Daniel Morgan in the first volume of his Interesting Notes About Portraits. Hugh Shull in his 2007 Whitman Redbook version of A Guidebook of Southern States Currency follows all preceding authors and attributes the portrait to Morgan. Most recently, however, Don Kelly’s Obsolete Paper Money, published in 2018, pictures the note, but does not offer any identification of the portrait. Clearly this misidentification had persisted since 1960, but I later learned that it reached back at least four additional decades. The earliest reference work on South Carolina obsolete notes is a book entitled The History of the Banking Institutions Organized in South Carolina Prior to 1860 by Washington A. Clark. Published in 1922, it contains an extensive appendix cataloging the different banknotes issued by these institutions. Clark was the president of the Carolina National Bank in Columbia and was an avid collector of South Carolina currency. He had been approached by the editor of The Numismatist, the official organ of the American Numismatic Association, to prepare a list of the notes in his collection for publication in the magazine. Later, that list was reworked and included as an appendix to his aforementioned book. It, too, misidentifies the portrait of William Butler as General Daniel Morgan and it is easy to imagine how all subsequent authors simply propagated Clark’s mistake. Clark’s book may have indeed been the source of this case of mistaken identity, as I could trace back no further in time the origin of the misattribution. Clark himself may have provided an explanation in the preface to his work: “I have found it, because of the lapse of time, a difficult matter to identify with certainty the individuals whose pictures appear upon the bills. With the exception of one bank cataloged herein, all others have passed out of existence.” If Clark was the original source of the error, collectors of today should not judge him too harshly. Even though he was composing his book one hundred years closer in time to the period of their use, it was still the better part of six decades since these notes had been in circulation and all who had a hand in their issuance had long since passed from this world. Sources:  webpage administered by knowitall.org: William Butler - History of South Carolina Slide Collection. (https://www.knowitall.org/photo/william-butler-history-sc-slide-collection)  The Engraver’s Line by Gene Hessler (1993, BNR Press)  Wikipedia page - William Butler (1759-1821)  South Carolina Obsolete Notes and Scrip by Austin M. Sheheen, Jr. (2003, self-published)  South Carolina Obsolete Notes by Austin M. Sheheen, Jr. (1960, self-published)  Confederate and Southern States Currency by Grover C. Criswell, Jr. (1964, Krause Publications)  United States Obsolete Bank Notes, 1872-1866, Volume 4 by James A. Haxby (1988, Krause Publications)  Interesting Notes: About Portraits (Volume I) by Roger H. Durand (2002, R.H. Durand & Co., Ltd.)  A Guidebook of South States Currency by Hugh Shull (2007, Whitman Publishing, LLC)  Obsolete Paper Money: A Guide With Prices by Don Kelly (2018, The Paper Money Institute, LLC)  The History of the Banking Institutions Organized in South Carolina Prior to 1860 by Washington A. Clark (1922, The Historical Commission of South Carolina)  Numismatics of South Carolina, Volume 2: National Bank Notes by Tony Chibbaro (2022, self-published) Besides the three varieties of $10 notes issued by the State of South Carolina after the Civil War, the same portrait vignette also appears on earlier $10 notes issued by the Bank of the State of South Carolina in 1861. Depicted on the right side of this note is General Andrew Pickens, Butler’s commanding officer during much of the Revolutionary War. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 367 U N C O U P L E D : PAPER MONEY’S ODD COUPLE Joseph E. Boling Fred Schwan Our Home Town Collections   Fred suggested that I parallel his column this issue with either another US North Africa short snorter or something from my own home town collection. The problem with the latter is that I was an Air Force brat and had many homes widely separated. I call that portion of my collection my biographical collection, rather than my home town collection. So I cast about for a suitable subject item. After rummaging through hundreds of short snorters, many of which have individual interesting signatures, I found that I have almost none on US North African notes (and none of them interesting) and I have oodles of ones on French North African notes. I settled on one that I have presented in talks, but not yet in print. This could be part of my biographical collection, because it is from Morocco, where I lived from 1953- 55 (6th and 7th grades). I collect Morocco by date, but this piece was not acquired to go into that collection (I have a better condition piece for that). It came to me as part of a massive short shorter group that was mostly not composed of Moroccan notes. The originator of this short snorter is not identified on it anyplace that I can identify. The total is over 80 notes, over 45 still attached to each other when I acquired it, the others divided between shorter strings and individual notes. This soldier must have attended every USO show that came to the Mediterranean theater. Many of the individual notes are decorated with signatures of entertainers. They were apparently all collected and attached as acquired, including scattered notes from Weimar days, and even some from the Pacific theater. So the chronology of its construction is largely speculative. See Boling Page 370 I have frequently complained here that the most difficult part of writing this column is deciding upon what to write. Often the solution is to go to NEWP— new purchases. That technique worked great today. The item on top fits nicely into two of my favorite collecting areas: World War II and home town notes. It is not very often that I find an item that fits into both of these collecting categories, so I am excited when I find one. Most of my columns relate to World War II numismatics, but I probably have mentioned my home town collection at least a few times. Of course, national bank notes constitute the classic home town items. I keenly collect my home town nationals, chits, checks and a few other things (such as the bond shown here). I promise that someday I will dig into that with a detailed report on nationals, but for today, I will just tease you with the image of one national from Port Clinton, Ohio. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 368 There are at least two Port Clintons in the United States. The first—and by far the more important—is a small town that is the home of MPCFest in Ohio! The second is a really small town in eastern Pennsylvania. Its claim to fame is that it is on the Appalachian Trail. I learned about the Pennsylvania Port Clinton some thirty years ago. I stumbled across it while studying a road atlas on a trip to visit a collector friend in the area. That is when I learned that every town on the map is not listed in the atlas index! In those days before the internet, my go-to source was Webster’s Geographical Dictionary (1969). To my surprise, Port Clinton, PA was not listed there. PCPA did not have any national bank notes (I do not know if it had any banks). Since I learned about PCPA, I have had the opportunity to stop there a few times for lunch at the local tavern. I have a few souvenirs of the town that I picked up there, but I have not found anything that I could call numismatic. Now in the age of the internet, I made a similar discovery. There is a Port Clinton, Australia! I have not (yet) visited there nor found any numismatic items related thereto, but I am certainly looking. Please watch for me! All of this is to, finally, bring us to what I think you will find as a surprising World War II home town (Port Clinton, Ohio) note. Have a look at the yellow seal North Africa $1 short snorter. As with many short snorters, it is fascinating. As if to confirm the note’s status, the text at top center proclaims “Safe in Casablanca” and is dated March 17, 1943. It is likely that the owner of the note arrived in Casablanca on that date. The text at left is also interesting. As is often the case, it is labeled “Short Snorter” in the margin (even including the quotation marks). More specifically, the text is “African ‘Short Snorters’,” suggesting that it was the signers who were the short snorters, not the note itself! On the line below, the note is described as “official”! What the heck does that mean? Have you ever seen another official short snorter? How about an “unofficial” short snorter? Below that are six signatures. They are reasonably legible by short snorter standards. Joe is the champion when it comes to reading signatures. I have not yet spent any time on these signatures. Now look at the back. It too has some fascinating entries. The top margin of the short snorter (but bottom margin of the note) proclaims: “Malaria Bed Mates.” Dates appear in the right (or left) margin: “8/3/43 to 8/13/43.” It seems likely that the signers of the note were hospitalized for malaria in August 1943. Those are not routine dates. They are in the heart of Operation Husky (July 9–August 17, 1943)! That operation was the invasion of Sicily, mostly launched from North Africa, thus tying the history nicely with the note. Finally, please have a look at the list of signatures on the back before continuing to read my comments. What did you find? Seven reasonably legible names and six completely legible home towns. They consist of five big cities (Louisville, Chicago, New York City (N.Y.C.), Dallas (Big “D”)) and two small towns. Of course it is these two small towns in which we are primarily interested. Ridgewood, NY is not listed in the geographic dictionary. On the internet it is described as a neighborhood of Queens, NY. Finally, third on the list is the signature from Port Clinton, Ohio. I believe that the name is D.O. Bennett though some variations are possible. No, I have not yet found any information on Mr. Bennett. When I was pursuing the note, after cursory internet searches, I thought that I would be able SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 369 to locate information on him with the aid of local resources. Specifically, I knew that the local public library has a nice collection of Port Clinton High School yearbooks; I have used them in the past to find information about locals. A student named Bennett did attend Port Clinton High School in the targeted years, but his first name did not start with “D” or “O.” Of course, I have not given up. My research ideas include throwing the question to you! Where in the world did I obtain this Port Clinton note? You will not be surprised that I bought it on eBay. However, I cannot claim to be so observant as to have found it on eBay. No. I am fortunate to have collector friends! Those of you who know him will not be surprised that Jim Downey found the note and passed the link to me with best regards. Thank you, Jim! Boling continued: He did, on one note, show each duty station from departing the US (12 December 1942) to arriving back in the US (3 October 1945), and where he was for every holiday from Christmas 1942 to Easter 1945, but he never put his name on any of these records. The note of interest has fifteen signatures, a dozen of which I have been able to read and research. Figure 1 shows the face of the note; there are no signatures on the back. It was locally printed in Casablanca after the Allies landed in November 1942 (Operation Torch). Ten of the signatures are of entertainers or sports figures. I would be surprised to learn that all of these were part of a single USO troupe. I suspect that the owner had it signed at more than one performance. The inclusion of some military/political figures adds to the likelihood that he carried it around for a while asking interesting people to sign it. (If true, that further muddies the chronology of construction - at what point did he tape all these notes together? Some have only a single signature, and many have none.) Starting from the top (figure 2), we find two women, June Clyde and Louise Allbritton. Clyde was born in 1909, so was no longer an ingenue, but had been singing and dancing since her grade-school days and acting since the late 1920s. Allbritton was a decade behind Clyde, and had fewer stage credits when the war came, but she worked longer in the end. She married CBS correspondent Charles Collingwood after the war; they were still together when she died in 1979. Figure 3 has four signatures. First is Harry Barris, and third is actor and comedian Joe E. Brown. They traveled together regularly; I have several other short snorters with their paired signatures. Brown, born in 1891, is one of the most commonly-found signers. His signature is usually twice the size seen here; it seems to have grown as he stayed on tour longer (he also went to the Pacific theater with the USO.) Barris was a singer, song-writer, and pianist. In films (over fifty of them) he was usually a musician. Between those signatures is Randolph Spencer- Churchill, Winston’s son. I doubt that he was touring SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 370 with the USO. In North Africa he worked with the SAS, and from early 1944 was with an SAS mission in Yugoslavia with Tito’s partisans. That puts a closing date on at least part of this short snorter. Below Brown’s signature is one I have not been able to identify. Based on others on this note, it could have no connection with a USO troupe, particularly with that odd “v” hung on the end. I welcome reader assistance. That brings us to figure 4. Humphrey Bogart is the top signer, followed by Mayo Methot Bogart, Humphrey’s third wife. He needs no introduction. She was also an actor, of whom I had never heard. Starting in childhood (born 1904), she played both live theater (including Broadway) and films. Presumably she also worked alongside her husband in the USO troupe. I found a photo of them in Naples in 1943, and in 1944 they were separated (divorced 1945). That also serves to put a date on this note’s signatures. Below Mrs. Bogart is Henri Giraud. He was co- president (with Charles de Gaulle) of the French Committee of National Liberation. The problem was, he had expected to be supreme commander of Operation Torch, and when he discovered he would not be, he delayed his arrival in Algeria until after the landings (he had been smuggled out of Vichy France to participate). Although he attended the Casablanca Conference with de Gaulle, they became increasingly estranged. He was forced into retirement in 1944. Now we get to the sportsmen. Figure 5 has the signatures of Jack Sharkey, Lefty Gomez, and Fred Corcoran. Sharkey was the world heavyweight boxing champion in 1932 (against Max Schmeling), but lost the title in 1933 (against Primo Carnera). He was the only boxer to fight both Jack Dempsey (1927) and Joe Louis (1936), losing to both. Lefty Gomez was a Hall-of- Fame pitcher for the Yankees in the 1930s; he pitched one game in 1943 and retired. Since our short snorter owner did not get to Europe until December 1942, it’s looking like this note was signed in 1943. Fred Corcoran was a golf tournament promoter. He founded the LPGA and many tour events, and was the first non- player inducted into the World Golf Hall of Fame. His Wikipedia entry mentions him bringing sports shows to GIs with Sharkey and Gomez. Figure 6 contains two stumpers. I can read Leslie for the first one, but cannot make out the rest. The second line is equally cryptic. Finally we get to the lower right corner, where Eddie Foy Jr. signed the note. He had been part of the Seven Little Foys as a child (born 1905), and went on to play on Broadway (Tony nominee in 1957) and in almost fifty films over almost fifty years (1928-76). That’s quite a haul of interesting people from varied backgrounds. Sure, the $20 national bank note that I showed last year had even more, but it was carried for decades. This note was built in no more than two years, perhaps in as many weeks. Its owner was a genuine autograph hound. If you can read any of the three mystery names above, please email me at joeboling@aol.com. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 371 Robert Calderman When Size Matters! An incredible pair of $5 Federal Reserve Notes was discovered this summer and they deserve an honored seat in the spotlight! Consecutive pairs are a very popular way to collect historic United States paper money. Whether it is large size or small size, having two notes that have seemingly spent their entire lives together hold a special fascination for collectors. Often two notes that are in serial number order are not actually uncirculated! It is often just our assumption that this must be true if they are still held together after multiple decades. Unfortunately when a pair is found they can be treasured so much by their captors, eh hem... I mean their caretakers, that improper storage and improper handling can many times ruin a perfectly good thing! Pairs folded up and put into a wallet to then be stored in a back pocket for many years can end up converting once spectacular 65+ Gems into Fine 12 Net stained notes with rust stains!!! Fortunately for us, our two notes featured here were spared such a horrid miserable fate. Not only are they spectacular choice crisp uncirculated specimens, they are also a changeover pair! During this era, up to four plates were running on the presses. Multiple plates were being used at the time and there was no reason to segregate individual series. As long as plates were current and fit for use, they were sent to press. Plates were used until they were no longer fit for printing, then pulled as needed for repair and then eventually met with a final fate of cancellation. Printed 12-note sheets that had received both backs and faces were later cut into two 6-note sheets and stacked to be serial numbered later. The sheets were stacked in no particular order without any concern for what series faces they had. As sheets were numbered, the first and last note from each sheet would pair with the sheet before and the sheet after. This created the potential for changeover pairs! This can only happen with the following four plate positions: A / F / G / L. Look closely at both notes pictured and notice the plate position, series issue, and signature combination. These two consecutive Feds from New York change from series 1934A to 1934B! This alone makes for a very collectible pair especially when we consider the much shorter printing runs of notes featuring the Fred Vinson signature. A consecutive changeover pair like this would generally be worth approximately $400- $600. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 372 This already seems like an amazing deal for such an important pair of $5 FRN’s. However, there is something else that makes these notes even more special than what we have already seen thus far. There is something downright epic about one of these fives that catapults this set of two notes into the highest peak of specialized variety and rarity! Did you notice? Have your small size studies prepared you to instantly recognize the gravity of what we have here? For those that know, congrats and keep it up! For everyone else, you are in the cat bird seat to add to your arsenal another coveted variety to now be on the hunt for! Take a look at the PMG label on the 1934B $5 note ending in SN#1219. Within the middle line the text clearly displays “Fp.212 Error”. This specialized variety is highly sought after and can be found only on the Federal Reserve Note series of 1934B $5’s and only on the New York district! The blunder occurred when the plate number was engraved using the wrong size height setting! The face plate number is neither micro nor macro and falls in- between the two sizes! A total of 27 different plates were used to print over fourteen million 1934B NY five dollar bills, but only one plate, #212 featured this wild anomaly! Currently, only 15 examples of this Fp.212 error have been graded by PMG with just 9 of these notes reaching the supreme collectible level of uncirculated. CU examples do not come up for sale very often. Just a few short years ago in April 2020 Heritage auctions sold a Fp.212 note graded in 66EPQ, currently the finest known at the top of the PMG population report, for a substantial $1,800. Now let’s compare this to a regular non-#212 1934B $5 NY example in 66EPQ that sold in the very same Heritage auction for just $288 wow! So where did this incredible Fp.212 uncirculated changeover pair come from? What did it sell for? Incredibly the original seller did not know the significance of the variety, nor did the next owner, and not even the third buyer… and yes the pair was already slabbed!!! It was not until finally the fourth owner (That we know of at least) spotted this ultimate prize and submitted an offer of nearly four times the previous sale price to finally take the pair to the proper collecting home… So what is the pair actually worth? That is always very difficult to determine when considering a unique C.O.P. that has no specific frame of reference for sales history. Based on previous ultra rare changeover pairs that hold similar charm, there is no reason to expect this pair would conservatively sell for anything less than $2500 at major auction and of course the sky is the limit for two bidders that must have these two notes at any cost Do you have a great Cherry Pick story that you’d like to share? Your note might be featured here in a future article and you can remain anonymous if desired! Email scans of your note with a brief description of what you paid and where it was found to: gacoins@earthlink.net Recommended reading:  $5  1934B  New  York  Intermediate  Size Plate  Number  212  by  Peter  Huntoon Paper Money *March/April 1984 * Whole No. 110  Spectacular $50 Skip Changeover Pair by Jamie Yakes Paper Money *Nov/Dec 2017* Whole No. 31 SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 373 The front of the Type-40 Treasury note endorsed by Maj. Thomas L. Broun, Post Quartermaster. image: Roger Adamek Major Thomas L. Broun Post Quartermaster, Dublin Depot, VA Manuscript endorsements are often difficult to decipher, and in some cases it is all too easy to jump to a conclusion. Such is the case with this endorsement, which on first glance is easily interpreted as “T. L Brown.” If you assumed that this last name is “Brown” you would be in good company. The records of the Confederate Congress list this man as “Thomas L. Brown, Virginia, major, brigade quartermaster, Provisional Confederate Army.” You will also find 109 documents for “T. L. Brown” in the National Archives files for Officers. But a closer inspection of the endorsement shows a missing stroke for the spelling of “Brown.” This is not poor penmanship; it turns out that the family spelling of this name is “Broun,” which of course is very unusual. Roger Adamek, the discoverer of the endorsement, also made the discovery of the correct spelling. It is tempting to make the assumption that the name “Broun” is a corruption of the Germanic “Braun,” but Broun family history relates that the name originated in France with an ancestor named Thomas Brohun, the mayor of Bordeaux in 1315. A later ancestor emigrated from France to Scotland and assumed the name of Broūn. The endorser of the Treasury note, Thomas L. Broun, was born in Middleburg, Virginia, on December 26th, 1823, and died on March 3rd, 1914.1 1862-1863 Thomas L. Broun was appointed and confirmed on February 13th, 1862 as Major & Quartermaster reporting to Gen’l Heth (pronounced “Heeth”), taking rank retroactively on February 5th. On February 18th he was directed to report as Quartermaster at the post of Dublin Depot. A post quartermaster was responsible for acquiring raw materials and manufacturing of military goods. Major Broun’s documents show that he acquired rifles, gunpowder, percussion caps, blacksmith’s tools, wagons, harnesses, tools, clothing, stationery, cooking gear, blankets, tents, horses, railroad transportation, corn, hay, and thousands of beef hides for processing leather. The Quartermaster Column No. 32 by Michael McNeil The endorsement reads: “Issued Jany 29/ 63, Tho. L. Broun, Maj & QM” image: Roger Adamek SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 374 General Robert E. Lee on his horse Traveller. image: see endnote 2, https://commons.wikimedia.org/w/index.php?curid=43871717. 1864 Notations on a warrant signed by E. C. Elmore and payable to Major Broun’s account show that Broun had received total funds from February 27th, 1862 to August 24th, 1864 of $791,290.40, giving us some perspective on the scope of Broun’s efforts at Dublin Depot. On December 17th Major Broun was relieved of duty at Dublin Depot and ordered to report to the Quartermaster General in Richmond for orders. 1865 Major Broun signed documents at Atlanta, Georgia, on January 16th, but on February 11th he was on duty in Columbia, South Carolina, probably in anticipation of Sherman’s imminent attack on that city. We can speculate that he assisted with the evacuation of the Treasury-note Bureau on the 16th. Quartermaster General A. R. Lawton wrote the following formal orders on March 20th: I have the honor to request that Maj. Thos. L. Broun (correctly spelled with an obvious effort in a much bolder script for the “u”) Q. M. in charge of procurement of stationery &c be assigned to duty at Richmond until further orders or until he can resume his post at Columbia, Ga, or other available point. On March 21st Major Broun returned to Richmond. The fall of Richmond was imminent. Postscript: Wikipedia notes that Major Thomas L. Broun’s brother, Captain Joseph M. Broun, sold the horse to Robert E. Lee which would later become known as the famous “Traveller.”2 The Broun family history, however, identifies Thomas L. Broun as the family member who sold that horse to Robert E. Lee.1 Family history can be in error, but the Wikipedia article does not cite the Broun Family Tree in its references. The Treasury note endorsement of Thomas L. Broun is extremely rare, and as of this writing, it is unique. ◘ Carpe diem 1. Broun, Phillip H. Broun Family Tree, 1740-1964, unpublished manuscript, Houston, Texas, 1970, courtesy of Roger Adamek. 2. en.wikipedia.org/wiki/Traveller_(horse), accessed 19 June 2023. Image of General R. E. Lee on Traveller, monochrome photograph by Michael Milley, 1866. https://commons.wikimedia.org/w/index.php?curid=43871717. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 375 The Obsolete Corner The Reapers Bank by Robert Gill As you read this, Summer is beginning to wind down. So far, this year has been relatively tough for our country. Our political situation, as usual, resembles a circus. Inflation is approaching modern day highs. In the eyes of the world, it seems that recognition of our great country is quickly lessening. Hopefully, things will begin to change in the next couple of years. But you and I can’t do much about these issues now. But what we can do is continue to enjoy this great hobby that we share. So now, let’s look at the sheet from my collection that I’ve chosen to share with you. In this issue of Paper Money, let’s look at a short- lived bank that operated in Fairfield, Illinois, leading up to and during the Civil War. And that is The Reapers Bank. This extremely rare sheet is one of two survivors that we know to exist. This sheet, vastly superior in a state of preservation to the other, came on the market in 2019 in the incredible Illinois Obsolete Sheet Collection that Stacks Bowers auctioned. And to more understand the rarity of the notes on this Bank, besides these two sheets, in searching dealer offerings and major auction houses’ archives, I can find only one “single” note, that being a $3.00. At the time of its 1988 printing, the Haxby reference does not list even any singles on this Bank, much less a sheet. And Frank Sprinkle, in his booklet, Master List of Uncut Sheets of Obsolete Bills, makes no mention of ever seeing any sheets from this Institution. So now, let’s look at the history of this old operation. The Haxby reference lists The Reapers Bank, of Fairfield, Illinois, as being in operation from 1859 until around 1865. The Merchants' Loan and Trust Company went into business in Chicago in 1857. Early on it had determined to have a bank of its own and issue a circulation. To do so, it put up good substantial bonds with the Auditor of Public Accounts in Springfield, and started the operation of The Reapers Bank in Fairfield. Required capital was provided to a very considerable extent by the Trust Company. Having no office, the Bank was there upon established in a room in the local hotel. A. H. Burley held the position of President, and immediately began to sign its bank notes. During the time of the life of this operation, the security of the bills of banks in Illinois were largely based upon the stocks of many Southern states. It was seen that should the South adopt ordinances of succession, inaugurate war, and withdraw from the Union, the value of the stocks held for security would become greatly reduced, and in fact, become worthless. During the summer of 1862, when gold began to rise in value, brokers started to buy and sell it like any other commodity, and as it continued to rise and fluctuate in value, the expectations and hopes arose and fell correspondingly. This, the Civil War, and other factors, brought on the troubles of banking business in Illinois. All things culminated early in 1863, and Illinois banks lost heavily. Though struggling, The Reapers Bank was able to continue conducting business. During the short life of this Institution, it was involved in the reason for an Illinois law being passed regarding a bank's responsibility of redeeming its notes that were being circulated. Many large banks, especially in Chicago, were holding smaller banks' notes until a large amount of them were on hand. These larger banks would then send a messenger to the smaller bank with a large amount of notes for redemption. This was causing a problem with smaller banks regarding having ample specie on hand to conduct business. The Reapers Bank undertook a practice of discouraging the presentation of its notes by "tiring out" these messengers. On one occasion, when representatives of Willard and Atkins of Chicago presented for redemption at the Bank's counter several packages, each containing five to six hundred dollars in the Bank's notes, the Cashier proceeded to redeem the notes one by one with five and ten cent pieces, stopping frequently to attend other duties. By using this strategy, at the close of the day's business, only one hundred and fifty dollars’ worth of notes had been redeemed. The messenger had the rest of the notes protested for non-payment, and the State Auditor was called upon. Eventually, he proceeded to place the Bank in liquidation. The officers of the Bank resorted to injunction proceedings, and the case was ultimately decided by the Illinois Supreme Court. Here, it was held that payment of notes "on demand" meant that the holder is entitled to present all his notes simultaneously and receive specie for them in a lump sum. All indications are that The Reapers Bank ceased operations sometime around the end of the Civil War. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 376 So, there’s the history behind this old obsolete bank. And like so many others during that time, it had a very short life. As I always do, I invite any comments to my cell phone number (580) 221-0898, or you may contact me at my personal email address robertdalegill@gmail.com. So, until next time, I wish you HAPPY COLLECTING. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 377 Does Provenance Matter for Paper Money? Should it? Back in May of this year a Paper Money Forum discussion considered whether pedigree (or provenance) matters for currency collectors. That is, does it make a difference for our understanding of, or attitudes about, a piece of paper money to know who owned it previously? One discussant, mfontes, wrote “I could care less who owned a note prior to me or who owns notes I sell. What difference does it make that a collector owned a note? I don't understand the ‘added value’ because at some point a collector purchased a note. I could care less if a note’s pedigree was Jesus himself. I think it’s silly to expect that these notes should get a premium because in the recent past someone else owned it.” That pungent opinion pretty much captured the sense of the discussion. Still, the question of provenance emerges in the broad world of collectibles with a regularity that makes it worthwhile spelling out why it does matter, and the circumstances under which it might become relevant for currency collecting (“pedigree” has a similar meaning, but sounds like something your poodle has, so I will stick with “provenance”). In the art world, the provenance of a work is its documented chain of ownership, beginning with its latest owner all the way back to its creator. Provenance in art is important for several reasons. First, being able to trace back an item’s lineage contributes to understanding how and why a piece of art was created, particularly if its origins are obscure or remote in time. Closely related to such understanding is the question of authentication: was an artwork really created by the artist to whom it is attributed, or is it a copy or forgery? Finally, provenance helps establish the legal validity of ownership claims. This can matter in cases where artifacts were acquired illegitimately through wartime plunder, under ambivalent circumstances like colonial rule, or by outright looting of archeological sites. While coins and currency are collectibles like art, these reasons for knowing provenance are not quite as compelling. It’s true that, in the case of ancient and medieval coins, provenance has become a more serious consideration as nations tighten their rules regarding trade in what they regard as their cultural patrimony. However, for money produced in the last couple hundred years, provenance is of reduced meaning. While much artistry can be found in modern money, coins and bills are fundamentally machined artifacts which, unlike say an oil painting, are designed to be produced in large numbers. Thus, there’s nothing particularly enlightening about knowing the chain of ownership about a single piece of currency, even if that currency is highly desirable to collectors. Moreover, most valuations in the modern numismatic market are driven by condition scarcity, which is basically a question of grading expertise. Of course, knowing that a coin or banknote isn’t counterfeit is also highly relevant, as no-one wants to be fooled by fakes. Over the years, Joe Boling has created a cottage industry in chasing down doctored notes emitted by the elusive “Warrington”, which is a kind of provenance research. Otherwise, knowing who once owned what just isn’t that relevant for how most people appreciate their collections. On the other hand, the chain of ownership does matter from what might be called a sociological standpoint. Like the markets for art and other collectibles, those for certain coins and currency notes are driven not by intrinsic scarcity alone (many inexpensive monetary objects are unique, or nearly so), but by the perceived social desirability of the items. For example, there are five 1913 Liberty Nickels extant. Behind each one of them is an interesting provenance story. Those stories are an important reason why such a coin would now sell for millions of dollars, even though the sheer idea of paying that amount for a five-cent piece just because it bears the date “1913” rather than “1912” is actually monumentally trivial. The equivalent for paper money collector might be the 1890 Grand Watermelon. Like the 1913 nickel, few exist; the ownership chain for Grand Watermelons is clear; $1,000 is an impressive denomination; and over the years books have been written assuring us that this note is a most highly desired collectible. Another area of currency collecting where provenance could matter is with national bank notes. Because the market is highly differentiable by issuing banks and reliable census data exist to document small numbers of surviving issues, it would be pretty easy to maintain provenance records for individual bank notes. In contrast to mfontes, I think it would be pretty neat to collect a banknote that was once owned by Jesus. But, as the Dad Joke has it, Jesus paid for our sins with neither cash nor credit—he used PrayPal—. Chump Change Loren Gatch SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 378 How the Montgomery Ward Catalog and U.S. Postal Notes Helped Tame the “Wild West”! by Bob Laub The Homestead Act of 1862 This Act was signed into law by President Abraham Lincoln on May 20th, 1862. The purpose of the act was to encourage western migration by providing settlers 160 acres of public land. In exchange, homesteaders paid a small fee, and were required to complete five years of continuous residence before receiving ownership of the land. However, after six months of residency, homesteaders had the option of purchasing the land from the government for $1.25 per acre. The Homestead Act led to the distribution of 80 million acres of public land by 1900. Our country’s Westward migration became much more apparent after the final shots of the Civil War had been fired, in 1865. The country was dealing with reunification as well as reconstruction. Due to a rapid expansion westward, infrastructure, in most areas, was still well into the future for most settlers. Just trying to reach a credible banking institution, was at times, more than a day’s journey by horse and buggy. Life was harsh for the early pioneers with little or no conveniences. It was much different than today’s society where we take so much for granted. The Beginning of the Montgomery Ward Empire In August 1872, Aaron Montgomery Ward founded a mail-order business based in Chicago, Illinois. Ward started the company with $2,400 in capital only ten months after the Great Chicago Fire had devastated much of the area. His aim was to buy large quantities of merchandise wholesale, then sell the items directly to rural farmers without the help of retail intermediaries. Such an operation would provide goods at low prices but still yield acceptable profits. Chicago was well-situated to address all business needs throughout the Continental United States. The Transcontinental Railroad was completed in 1869, so Ward was well positioned to reach remote regions of the Wild West as well as working families throughout the more settled regions of the country. Ward began distributing the world’s first mail-order catalog, initially as a single-sheet (8” x 12”), listing 163 items. This came with a set of ordering instructions and was furthered by a money back guarantee. In the case of additional order forms being needed, they could be mailed as requested. Both company sales, and number of items in its catalog, grew quickly from the mid-1870’s on. By 1883, the first year U.S. Postal Notes were released, the company’s catalog became popularly known as the “Wish Book” and had evolved to 240 pages with 10,000 items. Almost any item imaginable could be purchased by simply forwarding funds to the proper address. These early catalogs were a true life-line between early settlers and major commercial distribution centers, such as Chicago. The company took pride in selling directly to the consumer at well below available prices at the country market (General Mercantile). Shop owners bought in much lower quantities than the giant mail-order companies but still needed to make a profit. Montgomery Ward and Company went so far as to encourage relatively small groups of neighbors to band together to make group purchases called club orders and split the discount awarded for paying in cash. Acceptable forms of payment: Printed on the central right side of the order form are these words: State here the amount of money sent and whether Draft, Express Money Order, Postal Order, Postal Note, Currency or Stamps. I also found additional payment instructions on a separate document which was not part of the original order forms. This is presented below: How to Send Money: It is perfectly safe to send money in the following manner: Bank Draft, Postal Money Order, Postal Note, or Express Money Order, and in cash by Express, charges prepaid, because in case of miscarriage the loss will be made good. Orders accompanied by individual checks on local banks will be delayed until checks are collected. Expense of collection will be charged. We will not be responsible for currency or coin sent by open mail nor for money sent in Registered Letters, although we consider this last method practically safe if they are carefully sealed. We advise the use of two envelopes- one within the other. When sending a Post Office Money Order, disregard instructions on the back and enclose it in your letter with the order for goods. When gold or silver becomes worn so as to be light weight, it is only worth what it will bring as bullion, which is about ten per cent less than its face value. Defaced five cent coins have no value. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 379 Notice. – We do not care to take postage stamps, but to accommodate our customers who live where there is no Postal Money Order Office, where it is difficult to make change in currency, we will accept them for amounts under $5.00. from points where Postal Money Order and Express Offices are established. We will not accept stamps in larger amounts than $1.00, except at a discount of two to three per cent. We recommend the Express Money Order system of remitting, because it is safe, simple and economical. There is no use sending money or stamps where access can be had to an Express Office. NOTE. –Do not send Money or Stamps in a letter by open mail. Many such letters never reach their destination, and we are often blamed for it. Always, when possible, send money by some of the forms mentioned above. Merchandise Delivery Methods: By Mail (U.S. Postal Service) Postage costs are one cent per ounce (16 cents per pound) and is limited to four pounds’ maximum per package (though an un-limited quantity of four pound parcels may be delivered to any one address). Cash payments are required in full prior to shipment, to cover goods and postage. By Express Service (agents at the Rail Depot) – This made allowances for C.O.D. and the ability to examine the product prior to paying for it. Payment could be made directly to the agent. This necessitated the purchaser live in or near the railway town with easy access to the Express Office. Express orders should exceed $5.00 By Railway Freight (if more than 100 pounds in weight). This would work ideally for a club order (group of friends placing an order together), or when ordering a piano or other large object. Fractional Currency, an alternative payment option: During the earlier years of mail-order catalog distribution, a popular monetary form for small transactions, was Postage and Fractional Currency. This “paper change” system was brought about at the threshold of the Civil War. Its dual purpose was to alleviate shortages of small change due to the extreme hoarding of most coinage. It also provided the ability of transmitting small amounts of money more securely through the mail. The system worked well as intended, and was printed for distribution from 1862 until the series was discontinued in 1876. As more of the small notes became worn and tattered, they were redeemed for coins and larger denomination currency. When the supply of fractional dwindled, there was an ever-increasing concern for the ability to send money through the mail. The Government spent years trying to come up with a viable solution. The 1883-1894 series of U.S. Postal Notes was the end result of many years of deliberation. Imagine the convenience of being at a local post office and purchasing a postal note. One would simply pay a three-cent clerical fee, plus the desired amount, (from one-cent to $4.99), then fill out a simple form, folded the note into an envelope, placed a stamp and mailed it. This means of monetary exchange proved to be an ultimate small financial link between rural America and major metropolitan distribution areas. The “Wild West” The Wild West was prevalent from the end of the Civil War in 1865, until about 1895. This geographic region consisted mainly of the states of California, Colorado, and Wyoming, as well as the Territories of Arizona, Nevada, New Mexico, and Utah, with some carry-over into other connecting geographic regions. Try to envision life in the Wild West. You may contemplate scenes from such notable locations as Tombstone, Arizona Territory, the site of the “Gunfight at the OK Corral” in 1881. Other ominous sounding western locations might be Boot Hill Cemetery in Dodge City, Kansas, Cripple Creek, Colorado or maybe even Deadwood, South Dakota. Other thoughts which may come to mind might be long lonely cattle drives, hostile Native American Indians and the all too familiar Wells Fargo Stagecoach. One small town which may elude most people’s colorful western images is Beaver, Utah. The town is located in the south-west portion of that territory. The word “territory” is being used because Utah did not become a state until 1896. Therefore, only postal notes with a “territorial” distinction were issued. This town’s main claim to fame is it’s the birthplace of the infamous outlaw Butch Cassidy. Born Robert Leroy Parker, April 13th, 1866, and was the eldest of 13 children. Robert grew up on his parent’s ranch near Circleville Utah. He left home in his early teens and worked at several ranches, in addition to a brief stint as a Butcher where he acquired the nick name “Butch”. This was soon applied to the surname of Cassidy, in honor of an old friend and mentor. Butch became the leader of a notorious gang of train and bank robbers known as the “Wild Bunch”. SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 380 His leading partner in crime, and fellow associate, was Harry Alonzo Longabeugh, better known as the “Sundance Kid”. He was born in Mont Clare, Pennsylvania, and at the age of 15 headed west. There, he received his nickname after being arrested and imprisoned for stealing a horse in Sundance, Wyoming. Butch Cassidy and the Sundance Kid, along with other colorful co-conspirators such as News Carver, Flat Nose Cury and “Deaf Charlie” Hanks went on the longest crime spree in the history of the American West. After repeated robberies and a number of the gang being killed, Butch and Sundance traveled to Bolivia where they continued their life of crime. Some historians claim this was where they both met their final demise at the hands of the Bolivian Army. Others state that they both eventually returned to the United States and the “old west” where they lived out their remaining years with more honest jobs. The Beaver, Utah Postal Note The note was printed by the American Bank Note Company of New York, as part of the second of three four- year contracts to produce U.S. Postal Notes. The company placed one of their top designers and engravers, Robert Morris, in charge of the project. Many collectors of U.S. Currency recognize Morris’s name as the person who eventually created the $1, $2 and $5 1896 Educational Series of U.S. Silver Certificates. This note was sold February 24th, 1891 with serial # 3602 in the amount of 75 cents. The monetary amount of this note shows it to be clearly issued for a commercial purpose. The vast majority of the 2,232 notes which still exist for collectors today, were issued between one-cent and five-cents. Clearly qualifying them to be considered as part of a souvenir category. Was this lone surviving note from Beaver, Utah purchased with the original intention of being forwarded to the Montgomery Ward Company in Chicago? Maybe, with the hopes of purchasing a much- needed family item to help make pioneer life more tolerable. The issued amount of 75-cents, in today’s society, might purchase a small bottle of cold water, but at the original time of issue in 1891, that amount would reflect a full six-day work week’s wages for most employees. If the Beaver, Utah Post Office began issuing postal notes September 3rd, 1883, the official “first day of issue”, this would average ten issued notes for each six-day work week (SORRY . . . closed Sundays). If this basic rough math were continued throughout the series, the final note may have possibly been # 5200. The number of notes issued from just this one small western town begins to show the reader how well the postal note series was embraced by the American people, especially in more remote rural areas. Postal Notes were effectively issued from early September,1883 until the end of June,1894. With almost 71 million notes vigorously being released and amounting to just over 126 million dollars having been forwarded. It is easy to now verify the high success rate of this series. Coupled with wide spread distribution and use of early mail- order catalogs it does not take a far stretch of the imagination to now show most readers how the Montgomery Ward catalog and Postal Notes helped tame the “Wild West”. Any questions in regards to U.S. Postal Notes or comments concerning this article may be directed to me at briveadus2012@yahoo.com. Also interested in hearing about any Postal Notes you may own. I refer to this as a Ty.IV.1., a Ty. IV, but with the second “8” in the date line crossed out and “91” added. The Beaver Utah, #3602, issued Feb. 24, 1891, for 75-cents. The reverse of this American Bank Note issue shows an octagonal cancel: Beaver, Utah Feb. 24 1891 M.O.B. (Money Order Business) SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 381 $MALL NOTE$ By Jamie Yakes Series of 1934 $5 Federal Reserve Note Back Plate 637 Mules Series of 1934 $5 Federal Reserve Notes with micro back plate 637 are the least reported of all the back plate 637 varieties: to date, only ten are known.1 They were printed during the final months of use of 1934 faces in late 1945 and early 1946, which coincided with the initial use of back plate 637 in June 1945. The overlap between the two plate varieties lasted just seven months and was a direct cause of the scarcity of this variety. Production Use of Back 637 Five-dollar back plate 637 spent its early life as a master plate that directly and indirectly sired all small-size twelve-subject $5 back plates made between 1935 and 1951.2 Originally, back 637 had been used to impart a design change to $5 backs. Since the onset of small-size production in 1928, BEP employees had dealt with high rates of sheet spoilage caused by tight margins on finished sheets created from the narrow separations between subjects on “old gauge” printing plates. They resolved this in 1934 by producing “new gauge” plates, which had wider vertical spaces between each subject on the plate. New gauge plates produced sheets with larger margins between notes that provided more tolerance when printing faces on backs. This change to new gauge plates required production of new master plates for each type, commencing with $1 faces in July 1934. New $5 backs came later that year, on October 26, when the BEP started a new gauge steel master back plate they designated as serial 630.3 Back plate 637 was begun a few months later on January 24, 1935. It was immediately pressed into service as the $5 master plate and remained so for the next eight years. During its time as a master, serial number 637 was never etched into any subject on the plate. In 1943, back plate 637 was retired as a master plate and saved as an economy measure. The following year it was salvaged, and on November 10, 1944, certified as a production plate. Serial number 637 was etched into each subject as micro-size numerals similar to those used on plates finished prior to January 1938. At the time, all plates were being finished with macro numerals, so the micro 637s were unorthodox. The BEP sent back 637 to press for the first time on June 23, 1945, and would use it for sixteen press runs until June 14, 1949. The plate yielded 598,000 sheets that were mated to all contemporary classes of $5 Julian-Morgenthau, Julian-Vinson, and Julian-Snyder faces. The first two press runs for back plate 637 occurred from June 23 to September 21, 1945; and from December 6, 1945, to January 23, 1946. Over 103,000 sheets, or 1.2 million notes, were printed during those two runs. At the time, $5 back sheets were being routed to production for United States Notes (on Series of 1928C faces) and Silver Certificates (on Series of 1934A and 1934B faces). In addition, Series of 1934A and 1934B Federal Reserve Note faces for numerous districts also were being used. Those 637 sheets got dispersed among the various production streams. Late Use of 1934 $5 Faces Series of 1934 $5 Federal Reserve Note face plates for eight districts were used after back plate 637 initially went to press (see table 1). Many of those faces would stay in service until late 1945 and early 1946. The extended use of $5 1934 Federal Reserve Note faces for over twelve years (they initially went to press in October 1934) was caused by a hiatus in printing $5 Federal Reserve Notes from 1937 to 1941.4 At the onset of the hiatus in May 1937, hundreds of 1934 faces from all twelve districts were mothballed until 1941. After production Table 1. Series of 1934 $5 Federal Reserve Note face plates sent to press after June 23, 1945 District No. of  Plates Inclusive sent to  press dates Inclusive dropped  from press dates Overlap with 637,  days Plate serials Boston 2 25‐Jun‐45 7‐Jul‐45 13 35, 36 New York 1 7‐Aug‐45 16‐Nov‐45 102 5 Philadelphia 3 25‐Jun‐45 22‐Jan‐46 212 33, 35, 36 Cleveland 12 23‐Jul‐45 9‐Jan‐46 171 2‐4, 6, 9‐14, 28, 29 Richmond 15 23‐Jul‐45 23‐Jan‐46 185 9‐11, 13‐24 Atlanta 18 25‐Jun‐45 23‐Nov‐45 152 8, 11, 12, 14, 17, 19, 21‐32 St Louis 5 23‐Aug‐45 23‐Oct‐45 62 32, 40‐43 Kansas City 17 25‐Jun‐45 24‐Sep‐45 92 1, 4‐19 Source: BEP plate history ledgers, RG318, National Archives and Records Administration, College Park, Maryland SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 382 resumed that July, any of those faces that were still serviceable were gradually sent to press alongside Series of 1934A faces. Seventy-three 1934 Federal Reserve Note faces were used between June 23, 1945, and January 23, 1946. The earliest were plates from Boston, Philadelphia, Atlanta, and Kansas City, each sent to press on June 25, 1945. The last were a group of Richmond faces dropped on January 23, 1946. Most of those 73 faces were used and dropped in 1945. The only faces used in 1946 were the three Philadelphia faces, Cleveland face 11, and most of the Richmond faces. No 1934 faces for Chicago, Minneapolis, Dallas, or San Francisco were used after June 23, 1945. Reported 637 Mules There was an overlap of 213 days during which 1934 Federal Reserve Note faces could be applied to 637 backs before those faces ceased to be used. Data from reported notes indicates printing and numbering of most 1934 face/637 back sheets occurred from July to August 1945. All reported notes have serial numbers lower than the last printed in 1945 (see table 2). Eight of the ten reported 1934 back plate 637 mules are from Cleveland and Kansas City (see table 3), both of which had large numbers of usable faces. Unreported districts include Boston, Philadelphia, Atlanta, and St. Louis. All the faces on reported notes had press runs after July 9, a fact that provides insight into the existence of unreported districts. Numerous 1934 faces for Philadelphia, Atlanta, and St. Louis were used after that date. Back plate 637 notes are reported with 1934A Philadelphia faces 49, 77, and 80, and 1934A St. Louis face 47. Each of those faces were used into the later months of 1945; face 49 was used as late as January 1946. In addition, for Philadelphia, 1934A face 49 was used alongside 1934 faces in June- August 1945 and in January, and for St. Louis, face 47 was used alongside 1934 faces in August- October 1945. Eighteen 1934 faces from Atlanta were used with back plate 637, and all of them had press time at some point from June to November 1945. Finding a 1934 637 mule from Philadelphia, Atlanta, and St. Louis, is just a matter of time and diligence by an astute collector. Two Boston faces were used alongside 637, neither after July 7, 1945. This was just thirteen days after 637 went to press, and straddled the time when the first seasoned 637 sheets would have been available for face printings. Seasoning was the process by which currency sheets were prepared for printing on intaglio plates on flatbed printing presses.5 Prior to back printing, blank sheets were moistened so they would sufficiently accept the ink deposited by the back plate under the many tons of pressure applied by the intaglio press. Afterwards, the sheets were dried, and then moistened again for the face printings. The sheets were dried once again before being sent to the numbering division to receive serial numbers. In between each step, sheets were assessed by sheet examiners to ensure they met acceptable standards. District Serial No. Boston A49824000A New York B78344000B Philadelphia C71784000A Cleveland D58836000A Richmond E65196000A Atlanta F68520000A Chicago G12596000B St. Louis H52764000A Minneapolis I15468000A Kansas City J31728000A Dallas K31320000A San Francisco L92372000A Table 2. Last serial number delivered  for $5 Federal Reserve Notes in 1945 Source: First Serial Numbers…, O&M  Secretary, BEP, October 1952 District Serial No. FP Serial New York B66598277B K5 Cleveland D53788157A E4 D54747952A L10 D56173146A L10 D56475697A A14 Richmond E61241842A J10 Kansas City J27826429A A15 J27826430A B15 J30378791A E14 J31340318A H15 Source: Census data, www.papermoneyproject.com Table 3. Reported $5 1934 Federal Reserve Notes  with back plate 637 SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 383 Seasoning was a controlled process: During drying, sheets had to contract evenly and not become distorted. During moistening, it was critical to ensure the sheets had the proper moisture content. The entire process could take a few weeks, though it could be accelerated for rushed production. Back plate 637 was placed into routine service, however, and sheets printed from it likely were seasoned under normal and unhurried conditions. Boston 637s—if those faces landed on 637 sheets—would be a trophy note. After the last 1934 faces went out of service, Federal Reserve note back 637 mules continued to be produced among 1934A faces (until July 1946, an overlap of 397 days), 1934B faces (from November 1945 to February 1947; 475 days), and 1934C faces (from September 1946 to June 1949; 1,002 days). The variety becomes more common as the series progressed from 1934 to 1934C. Star notes are unknown among Series of 1934 Federal Reserve Note 637 mules. Production of stars with back plate 637 was complicated by the natural low production rate of star notes, coupled with the low ratio of 637 sheets among available $5 back sheet stock. Among the four Federal Reserve Note face plate series mated to back plate 637, only two 1934A star notes are reported. Half the districts possible for 1934 Federal Reserve Note back plate 637s are unreported. Two others are unique. A new Kansas City note was discovered earlier this year,6 so the notes are out there. When you find them, report new discoveries to The Paper Money Project (www.papermoneyproject.com). Notes: 1. The Paper Money Project, www.papermoneyproject.com. Census data for 1934-1934C BP #637 Mules/Non-Mules. Accessed at https://www.papermoneyproject.com/5-frn-637-mules, July 11–18, 2023. 2. Yakes, J., “The Extraordinary First Ten Years of Micro Back 637.” Whole No. 303 (2016, May/Jun): 212. 3. The last old gauge $5 back plate was back plate 629. It was certified in December 1933, but never used in the months that followed because of the transition to new gauge plates beginning in January 1934. Back 629 sat idle for fourteen years until sent to press in 1947–48. Sheets from it produced numerous rare $5 mules. See J. Yakes, Paper Money 292, and P. Huntoon, Paper Money 299. 4. Huntoon, P., and J. Yakes, “$5 Federal Reserve Series of 1934 Blue-Green Seal, Yellow-Green Back, Non-Mules.” Whole No. 344 (2023, Mar/Apr): 136. 5. Currency sheet sizes up to eighteen-subjects were wetted prior to plate printing. The practice ceased in the late 1950s with the advance to dry intaglio printing using 32-subject sheets. 6. Yakes, J. “Series of 1934 $5 Kansas City with Back Plate 637.” Whole No. 345 (2023, May/June): 242 References: The Paper Money Project, www.papermoneyproject.com. Census data for 1934-1934C BP #637 Mules/Non-Mules. Accessed at https://www.papermoneyproject.com/5-frn-637-mules, July 11–18, 2023. “First Serial Numbers on U.S Small Size Notes Delivered during each year 1928 to 1952.” Prepared by the O&M Secretary, Bureau of Engraving and Printing, April 1952. BEP Historical Resource Center, Washington, D.C. National Archives and Records Administration, Record Group 318-Bureau of Engraving and Printing: Entry P1, “Ledgers Pertaining to Plates, Rolls and Dies, 1870s–1960s,” Containers 43, 144, 147. National Archives and Records Administration, Archives II, College Park, Maryland. Only reported Series  of 1934 New York  note with back plate  637. Discovered on  eBay in the 2000s.  (Author’s photo.) SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 384 UNESCO World Heritage Sites Depicted on Bank Notes – Angola  by Roland Rollins The Republic of Angola is located on the west-central coast of Southern Africa. It is the second-largest Portuguese- speaking country in both total area and population next to Brazil and is the seventh-largest country in Africa. It is bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Angola has only one World Heritage Site; the Mbanza Kongo. Mbanza Kongo, the leftovers of the capital of the former Kingdom of Kongo, represents the political and religious center of a vast African kingdom until the arrival of the Portuguese in the late 15th century. The site is located on a plateau. It comprises both archaeological remains of the pre-colonial period as well as colonial structures – often overlapping each other. The Kingdom of Kongo has strong intangible links with the slave trade and the early conversion of African kings to the Catholic religion. The only note depicting the only site is the 5000 Kwanza of 2020, P163a / B561a Angola 5000 Kwanza front with António Agostinho Neto and Bakama mask Angola 5000 Kwanza back with Kulumbimbi church ruins in M’Banza Kongo and coat of arms SPMC.org * Paper Money * Sept/Oct 2023 * Whole No. 347 385 OUR MEMBERS SPECIALIZE IN LARGE SIZE TYPE NOTES They also specialize in National Currency, Small Size Currency, Obsolete Currency, Colonial and Continental Currency, Fractionals, Error Notes, MPCs, 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 Dealers in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA To be assured of knowledgeable, professional, and ethical dealings when buying or selling currency, look for dealers who proudly display the PCDA emblem. For further information, please contact: The Professional Currency Dealers Association PCDA • Holds its annual National Currency Convention in conjunction with the Central States Numis- matic Society’s Anniversary Convention. Please visit our Web Site pcda.com for dates and location. • Encourages public awareness and education regarding the hobby of Paper Money Collecting. • Sponsors the John Hickman National Currency Exhibit Award each year, as well as Paper Money classes and scholarships at the A.N.A.’s Summer Seminar series. • Publishes several “How to Collect” booklets regarding currency and related paper items. Availability of these booklets can be found on our Web Site. • Is a proud supporter of the Society of Paper Money Collectors. Or Visit Our Web Site At: www.pcda.com Susan Bremer – Secretary 16 Regents Park • Bedford, TX 76022 (214) 409-1830 • email: susanb@ha.com Paul R. Minshull #16591. BP 20%; see HA.com 71678 DALLAS  |  NEW YORK  |  BEVERLY HILLS  |  CHICAGO  |  PALM BEACH LONDON  |  PARIS  |  GENEVA  |  BRUSSELS  |  AMSTERDAM  |  HONG KONG Always Accepting Quality Consignments in 50+ Categories Immediate Cash Advances Available 1.75 Million+ Online Bidder-Members U.S. CURRENCY SIGNATURE® AUCTION Long Beach – Dallas | September 13-15 Highlights from Our Official September Long Beach Auction View all lots and bid at HA.com/3593 Richmond, VA- Commonwealth of Virginia $500 Sep. 25, 1861 Cr. 1861-B PMG Choice Very Fine 35 From the Neil A. Chiappa Collection Fr. 1133-D $1,000 1918 Federal Reserve Note PMG Gem Uncirculated 66 EPQ From the Thomas Collup Collection Fr. 2221-G $5,000 Federal Reserve Note PCGS Very Choice New 64 Fr. 2231-A $10,000 1934 Federal Reserve Note PMG Choice Uncirculated 64 EPQ Serial Number 1 Poland, NY - $5 1875 Fr. 404 The Poland National Bank Ch. # 2441 PMG Very Fine 30 Fr. 2408 $1,000 1928 Gold Certificate PMG About Uncirculated 53 For a free appraisal, or to consign to an upcoming auction, contact a Heritage Expert today. 800-872-6467, Ext. 1001 or Currency@HA.com