official journal of The Society of Paper Money Collectors Benjamin Franklin Images on American Currency America’s Oldest and Most Accomplished Rare Coin Auctioneer 1550 Scenic Ave., Suite 150, Costa Mesa, CA 92626 • 949.253.0916 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 PM AugGlobal2024 HLs V2 240701 LEGENDARY COLLECTIONS | LEGENDARY RESULTS | A LEGENDARY AUCTION FIRM Contact Our Experts for More Information Today! West Coast: 800.458.4646 • East Coast: 800.566.2580 Info@StacksBowers.com August Global Showcase Auction Highlights from STACK’S BOWERS GALLERIES An Event Auctioneer Partner of the ANA World’s Fair of Money® Auction: August 12-16 & 19-22, 2024 • Costa Mesa, CA Expo Lot Viewing: August 4-9, 2024 • Rosemont, IL Highlights from The Porter Collection Peter A. Treglia Director of Currency PTreglia@StacksBowers.com Tel: (949) 748-4828 Michael Moczalla Currency Specialist MMoczalla@StacksBowers.com Tel: (949) 503-6244 Fort Benton, Montana Territory. $5 1875. Fr. 404. The First NB. Charter #2476. PMG About Uncirculated 53. Salem, New Jersey. $100 Original. Fr. 454a. The Salem National Banking Company. Charter #1326. PMG Choice Very Fine 35 Net. Guthrie, Territory of Oklahoma. $10 1882 Brown Back. Fr. 485. The Capitol NB. Charter #4705. PMG Choice Very Fine 35. Serial Number 1. Fr. 151. 1869 $50 Legal Tender Note. PMG Choice Very Fine 35. Fr. 203. 1863 $50 Interest Bearing Note. PMG Very Fine 25. Highlights from The Eric Agnew Collection of California National Banknotes Hanford, California. $50 1882 Date Back. Fr. 563. First NB. Charter #5863. PMG Very Fine 25. Monterey, California. $10 1902 Red Seal. Fr. 613. First NB. Charter #7058. PMG Very Fine 30. Serial Number 1. San Francisco, California. $20 1870. Fr. 1152. First National Gold Bank. Charter #1741. PMG Choice Fine 15. Fr. 776. 1918 $2 Federal Reserve Bank Note. Dallas. PMG Choice Uncirculated 63 EPQ. Serial Number 1. 237 Benjamin Franklin's Image on U.S. Currency--Rick Melamed 247 Unissued Series 1899 Treasury Note--Peter Huntoon 253 New High $2 Series 1928C Mule Discovery--Peter Huntoon 293 Money Used in Japanese-American Internment Camps-Part I--Steve Feller, et. al. 269 In God We Trust on U.S. Currency--Peter Huntoon 279 The Kirtland Safety Society--Douglas Nyholm & Dave Hur 289 New Fractional Currency Discovery--Rick Melamed SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 232 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 Mark Anderson 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 Brent Hughes 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 From Your President Editor Sez New Members Uncoupled Chump Change Small Notes Obsolete Corner Quartermaster Cherry Pickers Corner Robert Vandevender 234 Benny Bolin 235 Frank Clark 236 Joe Boling & Fred Schwan 291 Loren Gatch 296 Jamie Yakes 297 Robert Gill 299 Michael McNeil 301 Robert Calderman 303 Stacks Bowers Galleries IFC Pierre Fricke 232 FCCB 235 Bob Laub 238 Whatnot 246 Lyn Knight 254 Greysheet 268 Bill Litt 268 Fred Bart 283 World Banknote Auctions 288 Paper Money of U.S. 298 PCGS-C 310 PCDA IBC Heritage Auctions OBC Fred Schwan Neil Shafer Herb& Martha Schingoethe Austin Sheheen, Jr. Hugh Shull Glenn Smedley Raphael Thian Daniel Valentine Louis Van Belkum George Wait D.C. Wismer SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 233 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 Pierre Fricke pierrefricke@buyvingagecurrency.com Loren Gatch Shawnn Hewitt Derek Higgins lgatch@uco.edu shawn@north-trek.com 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 For many years, Nancy and I have been fans of Major League Baseball. While in Florida, we often attended the Miami Marlins games and even had season tickets one year when they were still the Florida Marlins. Since my job has relocated us to California for a period of time, we have become fans of the LA Angels, especially when Shohei Ohtani was playing with them before his departure for the Dodgers. During our last visit to Angels Stadium a couple of weeks ago, I overheard someone attempting to buy refreshments using cash. They were quickly informed that no vendors at Angels Stadium accept cash anymore and a credit card must be used for any purchases at the Stadium. More and more, we seem to be moving toward a cashless society. I suppose there is a lawyer out there somewhere who can explain to me how they get away with not accepting legal tender as is printed on our currency. It will be interesting to see how, in the future, it affects the currency collecting hobby, since a large part of the fun was always searching for treasures in one’s change from a transaction. I'm writing this as we prepare to staff our SPMC table once again at the Long Beach Expo. I am not sure how many of our members will be in attendance although I did learn that our Vice President, Robert Calderman, will also be joining me at the show with a retail table of his own. Our next big event will be the ANA World’s Fair of Money in Chicago. The SPMC will have a table at that show, and I expect many of our members to be there with us. We are also planning to participate in the youth treasure hunt again at this show to help educate the younger generation about our hobby. As some of you may know, according to our bylaws, the current Past President of the SPMC continues to serve on our Executive Board as a voting member for the length of time they served as President. I am pleased to announce that Past President, Shawn Hewitt, has been reappointed and confirmed as a member of our Board of Governors to fulfill the term of Jerry Fochtman who passed away back in February. This ensures that Shawn will remain a voting member of our leadership past next June when his existing term expires. Shawn continues to be a great asset to our organization, and I look forward to seeing his continued contribution to the SPMC. I trust everyone is having a nice Summer and I look forward to seeing many of you at upcoming shows. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 234 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 Happy summer to all and to all a cool and fun one. I hope you all are having a good time that is filled with many new and exciting places, activities and new purchases. I encourage you all to go to a show or too. They seem to be back in force and the market is great. For me--it is a time of waiting and summer farm duties in the midst of a near diastrous computer failure. Watching and waiting for the birth of my first grandchild. That is a occurrence that I hope to be able to report on and show pictures of in the next issue. Little Olivia Jo is being very mobile and seems to be developing a sassy, rambunctious attitude in-vitro! Living on a farm like I have my entire life has its' share of summer duties when you have a full-time job during August to June. My main duty is moving the pasture. We have 35 acres and all the rain this year casued me to get a late start but it hastened the weed growth which means I have to go slower. Oh well, more time to ponder paper. I have had computers since the day of the TI-99 4A. I had a big stock of cassette tapes and player (the main storage device) and could really make that baby since. Image a RAM of 64K! All to say, they have now passed me by. I had this issue almost in the books and suddenly, when I turned it off, it said Microsoft need to update so I gave permission to update and turn off. Next day pushed the power button--NOTHING! I tried all the tricks to get it working and nothing worked. I had not backed up all my info for the past month, so I thougt I was toast. Imagine my surprise when I took it to Best Buy and they plugged it in and it was fine. Took it home and NOTHING! Back to BB and it was still fine. Took it home and plugged it in to my wifes system and woola, it was fine. All these years of using computers and this was the first time I found out that a monitor can go bad and disrupt everything. Whew--it works! Enough of my rambling and hopefully you will have a great summer. Till next time! Stay safe and enjoy summer! SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 235 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 MEMBERS5/05/2024 NEW MEMBERS 6/05/2024 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. REINSTATEMENTS None LIFE MEMBERSHIPS None 15698 Christoff Polagni, Website 15699 Darlene Wright, Website 15700 Robert Nowak, Website 15701 Uilson Boberto Ponce, Website 15702 Brent Enyart, Facebook 15703 Paul Dixon, Frank Clark 15704 Leonard Schulfer, Bank Note Reporter 15705 Robert Spiller, Website 15706 Kevin McCandless, Robert Calderman 15707 Joshua Grim, Website 15708 Paul Antonucci, Website 15709 Jim Haxby, James Haxby 15710 Gayle White, Derek Higgins 15711 Savannah Kelly, Frank Clark 15712 Peter Brouker, Tom Denly 15713 Les Cannaday, Robert Calderman REINSTATEMENTS None LIFE MEMBERSHIPS None SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 236 BENJAMIN FRANKLIN’S IMAGE ON AMERICAN CURRENCY by Rick Melamed One of the most notable founding fathers of the United States was the legendary Benjamin Franklin (1706-1790). He was an accomplished writer, inventor, statesman, diplomat, printer, publisher, and more; he was a leading intellectual of the day. In France, where he spent 10+ years as an ambassador, Franklin was feted and adored by French nobility (including King Louis XVI and his wife Marie Antoinette) as he actively campaigned for financial and military aid to fight the British during the Revolutionary War. His efforts led to much needed funding and foreign troops that were critical to America’s victory in the Revolutionary War. Franklin’s most noteworthy commercial success was the printing of the Pennsylvania Gazette, which he began publishing in 1729. It was acknowledged as one of the best colonial newspapers. Franklin had a sharp business acumen. He was one of the first American franchisers. He would supply various printers throughout the colonies, the equipment, and the expertise to create and publish newspapers and pamphlets. In return, Franklin would get 1/3rd of the profits over a 6-year period.   In 1732, Franklin first published the Poor Richard’s Almanack (sic). The Almanac contained a calendar, weather, poems, sayings and astronomical and astrological information. It was very popular, selling up to 10,000 copies every year. He would continue to publish the almanac for 25 consecutive years, speaking to his practical values of thrift, hard work, education, community spirit, self-governing institutions, and opposition to religious and political authoritarianism. Franklin was also a noteworthy scientist and inventor. He was well versed in physics where he pioneered the study of electricity. Some of his inventions included the lightening rod, bifocals, swim fins, flexible urinary catheter, the Franklin stove and more. He founded many civic organizations including the Library Company, Philadelphia’s first fire department, and the University of Pennsylvania. Franklin also became the first postmaster General of the U.S. Franklin’s image is widely found on postage stamps, coins, commemoratives and currency. In this article we will explore the myriad of images of Franklin on American issued currency. In total we used 28 different images - attesting to our reverence of Franklin. Where we can, we will showcase images that can be attributed to specific artists and/or engravers. This portrait of Ben Franklin was painted by Scottish artist, David Martin in 1767. Martin painted Benjamin Franklin during one of Franklin’s trips to Europe. It is a wonderful rendering showing a pensive Franklin, deep in study. The only unusual thing is his hair; it is sporting a wig, something Franklin rarely wore. This image has been used scores of times on Obsolete currency, and only once on Federally issued currency. David Martin (1737 – 1797) was born in Fife, Scotland. He studied in Italy and England, before gaining a reputation as a portrait painter. This portrait resides in the White House, but there are at least 7 other copies including a 2nd one by Martin that is at the Pennsylvania Academy of Fine Arts. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 237 Shown above are four examples of Martin’s portrait of Franklin. Top Left: $50 1847 Interest Bearing Treasury note (the only Treasury issued note using the Martin image). Top Right: $100 The President Directors & Co. Bank of Augusta, GA. remainder note. Bottom Left: $1 remainder Blackstone Canal Bank of Providence, RI; Bottom right: $20 Towanda Bank, PA. Note how top right image is repositioned, facing right. Left: During his time as a diplomat in France (1776–85), Madame Brillon de Jouy (accomplished French musician and composer) commissioned Franklin’s portrait. In a letter, de Jouy praised Franklin for his sound moral teaching and lively imagination but found his “droll roguishness” most endearing. The artist, Joseph Siffred Duplessis (1725 -1802) was born in Carpentras, near Avignon, France. He was a well-respected portraitist who won many prestigious artistic awards. Duplessis painted this recognizable portrait of Franklin, found on scores of notes from 19th century Obsoletes. Painted c.1785, this portrait now hangs in the Smithsonian National Gallery. Note the collarless jacket and vest. Above Right: This engraving was created by Charles Burt (1823-1892), a Scottish born American and principal engraver at the U.S. Treasury. While the Duplessis portrait on the left was painted during Franklin’s lifetime, the Burt engraving, which borrows heavily from Duplessis, was done well after Franklin’s death. Note how the fur lined coat collar of the engraving differs from the Duplessis painting, in which Franklin is wearing a collarless jacket and vest. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 238 Shown below are 2 examples of Obsolete notes with the Duplessis portrait with Franklin wearing a collarless jacket. Below Left: A $5 remainder note from Franklin Bank in Baltimore. Below Right: A $50 remainder note from The Bank of Chambersburg, PA. The first appearance of the Charles Burt engraving of Franklin on a Treasury issued note (with the fur collar) appears on the Franklin 1874 $50 Legal Tender Note (top left). Franklin is found on the 1879 $10 Refunding Certificate (bottom left). Franklin also appears on the 1893 American Bank Note Columbian Exhibition ticket (top right). It is interesting to see Franklin facing to the left; usually Burt images have Franklin facing right. Shown below are Charles Burt engraved portraits on 4 different small sized $100 notes: 1928 green seal Federal Reserve Note; 1929 brown seal Federal Reserve Bank Note; 1928 gold seal Gold Certificate; and 1966 red seal U.S. Note. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 239 Banknote designer Brian Thompson of the BEP created this portrait of Ben Franklin for the modern $100 note. Thompson, who also designed the modern $20 note, took 17 years to create the design. Borrowing from the Duplessis portrait, Thompson elevates this portrait, as Franklin’s piercing gaze makes him come alive. Below: Franklin and Electricity, found on the 1882 $10 National Bank Note, was engraved by Alfred Jones and James Simillie for the American Bank Note Co. Jones (1819-1900) was a noted British artist who illustrated many notable books, was published in art magazines, and was associated with the Carlton Studio, one of the largest commercial art studios in London at the turn of the 20th century. James David Smillie (1833 –1909) was a noted American artist, cofounder of the American Watercolor Society and New York Etching Club. The image of Franklin holding a kite string with a key during a lightning storm is representative of one of Franklin’s great achievements, discovering electricity. Left: This engraving of Franklin flying a kite with a young boy is considerably different than the rendition used in the production of the 1882 National Bank Note. This rare, likely unique, 1863 proof of Franklin and Electricity was never used in production While not definitive, we assume Alfred Jones and James Simillie were the engravers. Interesting to point out that the bronzing and 3 pie shape cancellations are similar to what was used in Fractional Currency Experimentals. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 240 To the left is a dour engraving of a young, trim and upright Franklin working at a desk setting type at his chosen profession as a printer. Top Left: 1860’s $5 remainder note from the Franklin Bank of Greenville, Illinois. Bottom Left: Franklin is found on an 1860’s $20 remainder note from The Bank of North Carolina in Raleigh. Both are engraved by an unknown artist for the American Bank Note Company. Above Left: An enchanting image of a young boy resting against a sitting Ben Franklin who is genuflecting to the bust of George Washington. The painting is entitled Franklin, Child & Washington by noted American artist, Francis W. Edmonds (1806-63). It was engraved by Alfred Jones (1819-1906). Top Right: 1860’s $2 remainder from the Bank of Amsterdam, NY. Bottom Right: 1860 $10 remainder note from the Citizens’ Bank of Louisiana at Shreveport. This $10 Franklin Silk Company note depicts a well-dressed Franklin with a far-off gaze holding a pen and writing tablet while sitting at a desk. Bolts of lightning are seen to his right. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 241 Philadelphia printers, C. Toppan & Co., created this engraving of a Franklin bust on a $5 Franklin Bank of Baltimore remainder note. The marble bust was created by Jean-Antoine Houdon (1741-1821), a French neoclassical sculptor. Born at the Place of Versailles, Houdon is famous for his portrait busts and statues of philosophers, inventors and political figures. The archives of the Metropolitan Museum of Art in New York offers a very good character description of Ben Franklin: “Houdon captures those aspects of Franklin's somewhat sly persona, which so fascinated French society during his nine years in Paris (1776–85) representing the newly independent United States. His natural unpowdered hair, simple Quaker suits, and benign wit all stood in sharp contrast to the norms of diplomatic circles in which Franklin moved. Franklin's celebrity attracted fashionable hostesses and crowds in the street alike and his image was widely disseminated by the leading artists of the time.” Above is a pair of portraits on $20 Franklin Bank notes (Jersey City note from 1827 and Boston note from 1836) with Franklin holding his spectacles. The artist and printer are unknown. One portrait Franklin is holding his spectacles in his left hand and the other portrait they are in his right hand. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 242 Above is an undated merchant note from Franklin Mining Company in Michigan. Engraved and printed by the American Banknote Co. This is a wonderful deptiction of Franklin at his desk. FRANKLIN PROFILES Top Left: 1914 red seal Federal Reserve note engraved by Marcus Baldwin (1853-1925) during his tenure as a BEP engraver. Baldwin also had stints at the American and National Banknote Cos. Top Right: A pair of Franklin profiles face each other on this 50¢ remainder note from the Franklin Institute of Philadelphia (same image used on U.S. stamps). Bottom Left: Franklin and Washington facing each other on a $100 Union Bank remainder note from Philadelphia. Bottom Right: Rudimentary profile of Franklin on an 1819 $100 Obsolete from the Franklin Bank of Baltimore, MD. A 1¢ and 30¢ encased postage depicts a right and left facing Franklin. Since encased postage was used as circulating money just before being replaced by Fractional currency in 1862, they merit inclusion in this article. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 243 Crude Franklin profile from an early Post note with no amount filled in. From the Franklin Bank of New York City. The bank was in existence from 1818-1830. Undated $10 proof from Franklin Bank of Baltimore. It’s quite an interesting Franklin profile wearing a cap. $5 note from the State Bank of Trenton, NJ dated May 10, 1822 MISCELLANEOUS FRANKLIN IMAGES The following Franklin engraved images are of a lesser quality. They are found on merchant notes and College currency where artistic expertise was not so precise. Top Left: 1883 50¢ merchant note from the Walker Iron and Coal Company from Rising Fawn, GA. Top Right: 187x $500 college currency note from the Indianapolis Business College. Bottom Left: (ca. 1868-70) Van Allen's Quarter-Dime Soap $1 "Family Lease" Advertising Note. The reverse has a recipe to make 60 lbs. of soap. Bottom Right: Undated 50¢ merchant note to Franklin Coffee House in New York City. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 244 Above is another rather rudimentary image of Franklin on a $1,000 college currency note from Baylies Mercantile College of Keokuk, Iowa. Franklin’s contribution to Continental Currency is also notable. It is estimated that he printed over 2,500,000 notes for the Colonies. His innovations included the development of the multicolored pattern on currency. He is supposedly behind the use of embedding mica and nature prints on Continental notes as well. Shown to the right is an example of a Franklin printed note. There are likely other Ben Franklin images that have been missed – but the above is comprehensive. Thanks to Wendell Wolka and Dustin Johnston of Heritage for their input. Also, to Stack’s/Bowers and Heritage for most of the images contained in this article. Thanks to Katrina London, Manager of Collections and Curatorial Projects at Kykuit – Home of John D. Rockefeller. Finally, thanks to my son, Dr. David Melamed, for his excellent editing of this article. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 245 Shop Live 24/7 Scan for $10 off your first purchase whatnot.com Unissued Series of 1899 Treasury Notes Objectives This article has two objectives: to explain how the unissued Series of 1899 Treasury notes came about and to pinpoint when the Treasury Department began to move toward ado[ting common designs for the different classes of U.S. currency. The first attempt to standardize designs involved the unissued Series of 1899 Treasury notes. This situation merges the collecting of some large size notes with four fascinating souvenir cards that round out the story. Too many large-size type collectors turn up their noses at souvenir cards, a tendency that I feel robs them of probing some interesting history. Surprise Discovery of Plate Proofs for $1 Backs This tale began to unfold for me years ago as we were sorting the BEP proofs that were turned over to the National Numismatic Collection in the Smithsonian Institution. One day I came upon eight 4-subject $1 proofs for the backs of the Series of 1899 that looked odd. Sure enough, they bore the header Treasury note instead of silver certificate. That was totally unexpected and clearly an unissued design. The Paper Column Peter Huntoon Figure 1. Unissued Series of 1899 $1 Treasury note, a Series of 1899 silver certificate look-a-like, that was developed to replace the existing Series of 1891 Treasury notes in order that all the current $1s would have uniformity so they could be handled easily. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 247 The plate proofs carried certification dates from August 5 through September 23, 1899. We never found 1899 Treasury note backs for other denominations or any faces at all. All of this was strange. Souvenir Cards I vaguely recalled something about this unissued series going by so in due course I looked in Hessler’s 1979 Essay-Proof-Specimen book and found that he illustrated proofs for both faces and backs of $1 and $2 1899 Treasury notes, but without any information about them (Hessler, 1979, p. 134-135). Another recollection was that some BEP souvenir cards illustrating unissued Treasury notes also had gone by so I probably had them. With a little digging I found a great series of four cards from 2002 labeled “United States currency redeemable in coin” (BEP, 2002a,b,c,d). They were Series of 1899 and their images are illustrated here. The information that accompanied the souvenir cards explained why we didn’t find production plate proofs for any other than the $1 backs. The master die for the $1 back was the only one of the four that had been hardened so it was the only one from which they could make a roll to transfer the image to plates. The information accompanying the cards revealed the following about the four master dies. $1 back begun January 1899/ $1 face began March 1899, work ceased on it during September. $2 back begun September 1899, finished November, never hardened. $2 face begun September 1899, finished October, never hardened. The process that was used in 1899 to create the four Treasury note dies was that they started with transfer rolls made from the hardened master dies for the Series of 1899 silver certificates. The images from each were laid into its own new master. A team of engravers then altered the images on the new masters to Figure 2. The only current $1 and $2 notes in 1899 were silver certificates and Treasury notes. Consequently, in order to move toward uniformity, they were a logical place to start. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 248 the desired Treasury note forms before the new dies were hardened. None of the eight $1 back plates that were made were sent to press. However, the existence of the proofs lifted from them reveals that the master was hardened, a role was made from it; and the eight production plates were laid-in from the roll. So how could the BEP employees in 1990 make printing plates to print the souvenir cards if three of the four masters hadn’t been hardened? Fabrication of a roll requires that the source die be hard. What they did was use modern electrolytic plate-making technology to create 1-subject printing plates from each of the masters. Specifically, they fabricated a flat electrolytic alto from each of the masters by electroplating nickel onto their surfaces. Then they separated the altos from the masters, which carried a mirror image of the engravings that would serve as molds. They then electroplated nickel onto the altos, separated the resulting flat forms from them and presto they had perfect replicas of the masters. The replicas served as the printing plates for the souvenir cards. Notice that this process works regardless of whether the master dies were hardened or not. You can see that the Bureau employees go to considerable effort to create the souvenir cards. Origin and Dilemma of Treasury Notes Now we get to the heart of the matter. What are these Series of 1899 Treasury notes about and why weren’t any issued? U.S. Treasury notes probably are the most interesting and enigmatic of the paper money issues of the United States. Let’s take a brief look. Collectors of large size notes know the Treasury notes as the Series of 1890 and 1891. Those notes were fathered by one of the most contentious political issues of the last half of the 19th century, the debate over whether unlimited quantities of silver should be monetized. The debate pitted populists in both parties against the hard money factions in their midst. The populist movement was particularly strong in the west and south where adherents favored the unlimited monetization of silver in order to inflate the money supply. By making money plentiful, they believed it would break what they perceived as a stranglehold that Eastern bankers had on the nation’s gold coin supply. The perception was that by controlling the gold supply, the bankers maintained high interest rates that stifled economic growth in the rural areas of the country, Of course, the hard money faction preferred to tie the money supply to what they perceived was a limited quantity of gold. The populists gravitated to the Democratic party and the hard money faction to the Republican party. The populist movement had gained sufficient strength by 1890 that they won passage of the Sherman Silver Purchase Act of July 14, 1890. The act was an ill-conceived compromise piece of legislation that required the Treasury to purchase up to 4.5 million ounces of silver per month and coin it. The act was passed without the support of then Republican President Benjamin Harrison. Figure 3. Details illustrating the differences between the Treasury note and silver certificate backs. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 249 It resulted in an uncontrolled drain on the Treasury’s stock of gold. Here is what happened. The act contained a serious flaw that was included to demonstrate the commitment of the United States to a bimetallic monetary standard that at the time was a 16:1 gold/silver ratio based on $20.67 per ounce gold and $1.2929 per ounce silver. It stipulated that the Treasury pay for the silver with Treasury notes, but allowed those notes to be redeemed in gold or silver coin. Furthermore, to maintain the now inflated money supply, the act required that when redeemed for coin, the Treasury notes had to be reissued in order that their outstanding circulation equaled the cost of the silver bullion and silver dollars held by the Treasury that they had purchased. Unfortunately, the price of silver steadily dropped as a result of huge production of silver from the Comstock Lode in Nevada and mines elsewhere in the west. The dilemma the Treasury faced was that speculators were engaged in a merry-go-round of buying silver on the metals market where the price of silver was decreasing, selling it to the Treasury, receiving Treasury notes, redeeming the notes for gold coin, selling the gold coin for ever increasing quantities of silver in the market, pocketing the difference and repeating the cycle. Most of the gold was exported whereas net silver imports increased during 1890 through 1893 (Carlisle, 1894). In due course, the Treasury had to dip into its $100,000,000 gold reserve fund established by the Act of July 12, 1882 to feed this frenzy. The Treasury had to sell gold bonds, mostly overseas, to restock the fund, only to repeat that cycle as well. This quickly ran up the national debt, which itself was payable in gold. The situation was unsustainable. Democratic President Grover Cleveland, upon taking office in 1893 at the beginning of his second detached term, inherited the mess along with the blossoming of the Panic of 1893 and economic depression that ensued. He perceived the act to be a primary cause of the panic because it eroded public confidence in the money supply. Therefore, he gave utmost priority to its repeal. He succeeded in getting the silver purchase provision repealed on November 1,1893. However, repeal of the reissue provision governing the Treasury notes had to await passage of the Gold Standard Act of March 14, 1900 seven years later during Republican President McKinley’s term. William McKinley took office March 4, 1897 and served until his assassination in 1901, which occurred during the first year of his second term. He was a moderate on the silver/gold issue but leaned toward the hard money position although in economics his passion was for tariff protection to insulate American industry. As the campaign unfolded against silverite Williams Jennings Bryan, McKinley’s tariff platform resonated well in the populous east so he downplayed the silver debate, thus winning a razor thin victory. His term was notable for victory in the Spanish–American War of 1898 that brought Puerto Rico, Cuba, Guam and the Philippines in as colonial possessions as well as the annexation of Hawaii. Ironically, McKinley argued against American Imperialism; instead, favoring isolationism. Figure 4. A major priority for Democratic President Grover Cleveland was repeal of the Sherman Silver Purchase Act. He managed to win repeal of the purchase requirement in 1893 but not the dangerous Treasury note reissue provision. Wikipedia photo. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 250 By rejecting the inflationary monetary policy of free silver, keeping the nation on the gold standard; and raising protective tariffs, his term saw the nation recover from the lasting depression that gripped the nation following the Panic of 1893. Much credit for this success goes to Lymen J. Gage, an accomplished banker and staunch Gold Democrat, whom McKinley appointed as his Secretary of the Treasury. Gage, formerly president of The First National Bank of Chicago, served as Secretary from McKinley’s inauguration until January 31, 1902 during Theodore Roosevelt’s administration. A priority for Gage and the Republicans in Congress was to place the nation on the Gold Standard. However, more immediate at the outset of McKinley’s term was the lingering problem of the reissue provision for the Treasury notes. Secretary Gage also was saddled with the fiasco attending the failure of the Series of 1896 Educational silver certificates inherited from John Carlisle, Cleveland’s second Secretary of the Treasury The Educational notes had foundered over a design flaw; specifically, the lack of readily visible counters on the corners of their faces. That made sorting the notes difficult and had drawn howls from the banking and merchant communities. At the time Gage took office, the engravers at the BEP were preparing revised master dies for the series. Gage had little patience with the series so he cut the Treasury’s loses by killing the series on May 3, 1897 (BEP, 1990) and ordering a new series of $1, $2 and $5 to replace it. Bringing the replacement Series of 1899 silver certificates to fruition took two years, thus yielding that series date for them. Gage’s authority to do so resided in the legislation that authorized currency. Those acts specified the denominations but vested the Secretary of the Treasury with responsibility for their designs. The latter included not only the engravings but also the series designations. The Secretary could change either at will. Figure 5. A priority for Congressional Republicans during William McKinley presidency was passage of the Gold Standard Act, which occurred in 1900. It contained a provision that did away with the lingering Treasury note reissue provision in the Sherman Silver Purchase Act, thus ending the issuance of Treasury notes. Wikipedia photo. Figure 6. Republican McKinley’s Secretary of the Treasury Lymen J. Gage, a Gold Democrat, authorized the Series of 1899 $1 and $2 Treasury notes as a first step in adopting uniform currency designs for the various classes of currency. His major role was his service as the administration’s point man for passage of the Gold Standard Act key, which ironically did away with Treasury notes. Wikipedia photo. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 251 Adoption of Uniform Designs Historically it was a bit peculiar that there were so many different classes of Congressionally authorized currency and that each class had entirely different designs. Handlers simply had to get used to sorting them. Apparently, Gage already was sensitive to the sorting issue as a former banker. Now he had just come away from the Series of 1896 silver certificates debacle over a similar sorting issue. There were only two class of current $1s and $2s going into the late 1890s; specifically, silver certificates and Treasury notes. An obvious first step toward uniformity would be to simultaneously replace the $1 and $2 Series of 1891 Treasury notes with Series of 1899 silver certificate look-a-likes. Consequently, Gage seized on the opportunity and authorized the replacement of the Series of 1891 Treasury notes with a Series of 1899 Treasury notes. 1899 Treasury Notes Not Needed Gage worked with Congress on passage of the Gold Standard Act, which was signed into law by McKinley on March 14, 1900. Gage’s Treasury people certainly provided language for that act so its terms were known to them well before it passed. A provision was included in the Gold Standard Act to solve the Treasury note reissue dilemma. Section 5 required the Treasury to redeem the Treasury notes and reissue them as silver certificates. The silver certificates were redeemable only in silver. Thus, the Treasury’s gold would be shielded. Gage’s Treasury knew that Section 5 was coming and that it would terminate the issuance of Treasury notes. Being secure that the Gold Standard Act would pass, Gage had the BEP terminate work on his Series of 1899 Treasury notes as unnecessary during the fall of 1899. That call was correct because passage of the Gold Standard Act saw to it that Treasury notes ceased to be current thereafter. Paving the Way Even though the Series of 1899 Treasury notes never came into being, the idea of using uniform designs for given denominations was now seeded in the Treasury Department and rattled around for the rest of the large-note era. The administration of Treasury Secretary of the Treasury Andrew Mellon, who served from May 1921 through January 1929, took another swipe at implementation in the form of the look-a-like low denomination Series of 1923 silver certificates and legal tender notes. However, Mellon’s Treasury prioritized reducing the size of the currency so adopting uniform designs for the larger denomination large- size notes was shunted aside as unnecessary and wasteful. Uniformity awaited adoption of the small-size notes beginning at the end of Mellon’s tenure in 1928. Heck of a story to pull together between collecting some Series of 1890 and 1891 Treasury notes, the four Series of 1899 Treasury note souvenir cards, and some Series of 1899 silver certificates, eh? If you want the full story of the Sherman Silver Purchase Act and the Treasury notes of 1890 and 1891, read Huntoon (2022). You can get the article via the Society of Paper Money Collectors website. Sources Bureau of Engraving and Printing, 1863-1928, Certified proofs lifted from large-size U.S. currency printing plates: National Numismatic Collection, Smithsonian Institution, Washington, DC. Bureau of Engraving and Printing, 1990, Series of 1897 $5 silver certificate unfinished master face die souvenir card: 1890’s an American Renaissance series, FUN 1990, Tampa, FL Bureau of Engraving and Printing, 2002a, Souvenir card, Series 1899 Treasury note $1 face, Florida United Numismatists, Orland, FL, January 2002. Bureau of Engraving and Printing, 2002b, Souvenir card, Series 1899 Treasury note $1 back, Texas Numismatic Association, Fort Worth, TX, May 2002. Bureau of Engraving and Printing, 2002c, Souvenir card, Series 1899 Treasury note $2 face, American Numismatic Association, New York, NY, July-August 2002. Bureau of Engraving and Printing, 2002d, Souvenir card, Series 1899 Treasury note $2 back: Long Beach Coin & Collectables Show, Long Beach, CA, September 2002. Carlisle, John G., 1894, Gold and silver in the Treasury of the United States, and circulation of silver & silver certificates (chart with month-end totals including insets for imports and exports of gold and silver, June 1878 through May 1894); in, Annual Report of the Secretary of the Treasury on the state of the finances: Government Printing Office, 992 p. Hesler, Gene, 1979, U.S. essay, proof and specimen notes: BNR Press, Port Clinton, OH, `262 p. Huntoon, Peter, May-Jun, 2022, The origin and demise of the Treasury notes of 1890 & 1891: Paper Money, v. 61, p. 86-106. United States Statutes, July 12, 1882,An Act to enable national banking associations to extend their corporate existence, and for other purposes: Government Printing Office, Washington, DC. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 252 United States Statutes, July 14, 1890, Sherman Silver Purchase Act: An Act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes: Government Printing Office, Washington, DC. United States Statutes, November 1, 1893, An Act to repeal a part of an act approved July fourteenth, eighteen hundred and ninety, entitled “An act directing the purchase of silver bullion and the issue of notes thereon, and for other purposes”: Government Printing Office, Washington, DC. United States Statutes, March 14, 1900, Gold Standard Act; An Act to define and fix the standard of value, to maintain the parity of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes: Government Printing Office, Washington, DC. New High $2 Series of 1928C Mule Serial Number Discovery Peter Huntoon Small size U.S. variety collectors Derek Higgins and Larry Thomas compete with each other to find $2 Series of 1928 notes that extend the reported serial number ranges for all the varieties in that popular series. Derek, within the last year, has outdone himself by extending the range for the very scarce 1928C mule variety by buying or spotting three successive highs; specifically, C03473448A, C03716665A and now C04103686A over the previous high of C02892104A reported back in 2020. He found the latest— C04102686A J176/289—on the ExecutiveCoin.com website in February 2024. Larry brought in a new low 1928A Woods-Mellon, new high 1928C Julian-Morgenthau star, and new high 1928E Julian-Vinson during the same period. These two have contributed more on the $2 1928 notes in the last couple of years than has come in during the previous three decades. Send your reports to peterhuntoon@outlook.com The serial number on this Series of 1928C mule printed in early 1940 is now the highest reported for this scarce e variety. Executive Coin Co. photo. 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 A50969839A 1930 B08965670A 1934 *00732343A *01055383A 1928B Woods-Mills A86398443A 1933 B09004381A 1934 *00942054A *01053286A 1928C Julian-Morganthau B09008001A Jun 15, 1934 C25426677A 1941 *01062930A *02049788A 1928C mule Julian-Morganthau B97675354A 1939 C04103686A 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 D40156288A 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 * July/Aug 2024 * Whole No. 352 253 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 Money Used in the Japanese-American Internment Camps of World War II By Katherine Ameku1, Momo McCloskey Feller2, Ray Feller2,3, and Steve Feller1 Part I (Part II and references in Sep/Oct Issue) Why the Camps Came to Be Anti-Japanese racism existed in the United States from the start of Japanese immigration in the late 1800s. Japanese immigrants were not allowed to become citizens, although their children were protected by the 14th Amendment and were born as US citizens (Kashima, 2003). However, even these US citizens--over 100,000 Japanese Americans--were subject to imprisonment in Japanese American camps during World War II. The Empire of Japan attacked Pearl Harbor in Hawaii on December 7, 1941. War was declared the next day. Only two months later, on February 19, 1942, President Franklin Roosevelt issued the now-infamous Executive Order 9066 (US National Archives, see Figure 1). This required the forced evacuation of anyone of Japanese ancestry--including United States citizens-- from a “Western exclusion zone.” Figure 2 shows the military order that put the relocation into action based on Executive Order 9066. Men, women, children, and the elderly were sent first to short-term “assembly centers” (located in temporary settings like fairgrounds and racetracks) and then to relocation camps in the interior (read: middle of nowhere) of the United States. Those people who had aroused more specific suspicion were sometimes placed in a third type of camp, run by the Justice Department or US Army (US National Park Service). 1Coe College, Cedar Rapids, IA. 2 Jamaica Plain, MA. 3 MIT, Cambridge, MA SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 255 Figure 1: President Franklin Roosevelt’s Executive Order 9066 (National Archives). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 256 Figure 2: Instructions for implementing Executive Order 9066 (National Archives). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 257 Figure 3: Map of Japanese-American centers of internment during World War II (image from the National Park Service) Numismatic Items from the Camps Little has been written on the numismatic remainders of the assembly centers or from the ten relocation centers established inland for the evacuees. The present research has uncovered numerous numismatic items from these camps. We have utilized camp newspapers, memoirs, yearbooks from camp high schools, scrapbooks, film footage, and official reports. We have also had the opportunity to visit some of the camp sites in person. From these sources, we have begun to piece together the numismatic story of the Japanese American internment camps. The internees were able to use US paper currency and coins. They also had bank accounts both back home and in the camps. There were also other forms of money and other related ephemera in assembly centers and relocation camps. These included paper scrip, event tickets, clothing and other commodity coupons, tokens, lottery tickets, and co-op receipts. Coupon Books Within weeks of camps opening, numismatic items were being mentioned in the camp newspapers. The most common were coupon books. Shown below is a newspaper from the Santa Anita (CA) Assembly Center with headlines about coupon books. Many newspapers in the camps had similar reports. These references make clear that the coupon books were an essential part of the camp economy. A coupon book is shown from the WCCA with one attached coupon. To redeem coupons for goods, prisoners would have to present the coupon booklet with the coupon attached. Goods were not exchanged if the coupon was loose. This prevented bartering for goods in the camps and is the same model as many POW camps in the United States (see Seeley and Frank, 2019). Although the references to coupon books are frequent, surviving examples are quite limited. This is likely because the internees were encouraged to use their coupons before leaving. As one article from the Fresno Grapevine reported on June 6, 1942: “‘Coupon books are not re-imburseable [sic] in cash at the time evacuees are transferred to other relocation center [sic],’ states E.P. Pulliam. He also suggests that everyone expend their coupon books at the center store since the same are not negotiable at the War Relocation Centers.” (See Figure 5) Given that the inmates had to purchase coupon books in Fresno, likely the incentive was even higher to use them up. SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 258 Figure 4: The Santa Anita Pacemaker of July 4, 1942. The play on words indicates the racetrack origin of this assembly center (Densho). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 259 Figure 5: Fresno Grapevine, June 6, 1942, encouraging internees to use their coupons (Densho). Figure 6: Coupons being issued at a Japanese Assembly Center (Densho). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 260 Figure 7: WCCA Center Store chit from a booklet. It was issued in the name of K. Takemoto (Densho). Cooperatives Associated Cooperatives of Oakland offered to help the relocation centers in establishing cooperatives. All but one accepted and established a co-op system (Thompson, 2011). These allowed the prisoners to have more control over their internal economy and what products were coming into the camps. The co-ops were not limited to stores. They also included soda fountains, beauty salons, barber shops, shoe repair, photography studios, movie showings a flower shop, check cashing, and other services (Unrau, 1996). They also produced their own newspapers to keep their members up to date. The co-ops were very successful--in fact, a year after it opened, the Manzanar co-op was the SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 261 second largest consumer co-op in the country (Thompson, 2011). Patrons had to use the same ration books as those outside the camps, and examples of ration books issued to internees can be found. Additionally, there are examples of special coupons for the Co-ops, as well as an incentivized receipt system. Upon arrival at the camp, many internees did not have much more than what was on their back so the need for supplies was prevalent. Co-op members paid dues that would go to the purchase of the wares at the co-op stores. When Co- op members purchased supplies at these stores, they received a dividend. These were profit refunds based on the sales as evidenced by the issued (and saved) receipts (see Figures 11 & 12). Although Co-ops were introduced by the WRA, they were run by several committees composed of fellow prisoners who were elected by cooperative members. These places of business accounted for millions of dollars in sales. For example, the Tule Lake Cooperator issue from October 30, 1943, reported that the previous three months’ total sales and services amounted to $371,351.02. Figure 8: Co-op voucher from the Jerome Co-op, 1944 (World War II Japanese American Internment Museum, McGehee, AR) SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 262 Figure 9: Rohwer Camp usage of Co-op coupons (World War II Japanese American Internment Museum, McGehee, AR) . Co-op documents and vouchers: Figure 10: Possibly a membership card for the Manzanar Co-op (image from Densho) SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 263 Figure 11: Patronage receipt from the Manzanar Relocation Camp Co-op (image from the Manzanar National Historic Site)` Figure 12: Patronage refund receipt from the Manzanar Co-op (image from Densho) SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 264 Figure 13: Canteen in Manzanar; image by Ansel Adams (image from Densho) Figure 14: Inside an Arkansas Japanese-American Internment Camp Store (World War II Japanese American Internment Museum, McGehee, AR) SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 265 Figure 15: Outside an Arkansas Japanese-American Camp canteen (World War II Japanese American Internment Museum, McGehee, AR) Other Numismatic Items Other examples of numismatic items in the camps include tickets for recreational activities, such as baseball tickets, movie tickets, and tickets to events like a birthday ball. Examples are shown below. Figure 16: Movie ticket for use at Minidoka War Relocation Camp (Steve Feller Collection). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 266 Figure 17: Poston Movie Ticket (Image from a scrapbook, courtesy of Densho) Figure 18: Ticket to a Birthday Ball in Jerome (World War II Japanese American Internment Museum, McGehee, AR) Figure 19: Ticket to baseball games between the US Army at Camp Shelby (Mississippi) and Japanese American internees from Jerome, AR. The Jerome team won 2 out of 3 games played in 1943. (California State University, Dominguez Hills, Archives and Special Collections). SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 267 Figure 20: Raffle ticket for Poston III Camp (Image from Densho) SPMC.org * Paper Money * July/Aug 2024 * Whole No. 352 268 In God We Trust on U.S. Currency AN ACT To provide that all United States currency shall bear the inscription “In God We Trust” Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That at such time as new dies for the printing of currency are adopted in connection with the current program of the Treasury Department to increase the capacity of presses utilized by the Bureau of Engraving and Printing, the dies shall bear, at such place or places thereon as the Secretary of the Treasury may determine to be appropriate, the inscription "In God We Trust", and thereafter this inscription shall appear on all United States currency and coins. Approved July 11, 1955, Subsequently, “In God We Trust” was established as the national motto by a Joint Resolution of Congress signed into law by President Dwight D. Eisenhower on July 30, 1956. Release to the public of $1 silver certificates with the motto on their backs took place on The Paper Column Peter Huntoon Figure 1. The first small size notes to utilize the national motto were $1 Series of 1957 silver certificates printed on new high-speed 32-subject rotary presses bearing Anderson-Priest treasury signatures. These were first released to the public on October 1, 1957. 269 October 1, 1957. The notes were $1 Series of 1957, the first U.S. currency printed on 32-subject rotary presses. This is the history of how this came about. National Motto on Coins and Paper Money This section is reproduced verbatim from the U.S. Treasury web site. The motto IN GOD WE TRUST was placed on United States coins largely because of the increased religious sentiment existing during the Civil War. Secretary of the Treasury Salmon P. Chase received many appeals from devout persons throughout the country, urging that the United States recognize the Deity on United States coins. From Treasury Department records, it appears that the first such appeal came in a letter dated November 13, 1861. It was written to Secretary Chase by Rev. M.R. Watkinson, Minister of the Gospel from Ridleyville (present day Prospect Park), Pennsylvania, and read: Dear Sir: You are about to submit your annual report to the Congress respecting the affairs of the national finances. One fact touching our currency has hitherto been seriously overlooked. I mean the recognition of the Almighty God in some form on our coins. You are probably a Christian. What if our Republic were not shattered beyond reconstruction? Would not the antiquaries of succeeding centuries rightly reason from our past that we were a heathen nation? What I propose is that instead of the goddess of liberty we shall have next inside the 13 stars a ring inscribed with the words PERPETUAL UNION; within the ring the allseeing eye, crowned with a halo; beneath this eye the American flag, bearing in its field stars equal to the number of the States united; in the folds of the bars the words GOD, LIBERTY, LAW. This would make a beautiful coin, to which no possible citizen could object. This would relieve us from the ignominy of heathenism. This would place us openly under the Divine protection we have personally claimed. From my hearth I have felt our national shame in disowning God as not the least of our present national disasters. To you first I address a subject that must be agitated. As a result, Secretary Chase instructed James Pollock, Director of the Mint at Philadelphia, to prepare a motto, in a letter dated November 20, 1861: It was found that the Act of Congress dated January 18, 1837, prescribed the mottoes and devices that should be placed upon the coins of the United States. This meant that the mint could make no changes without the enactment of additional legislation by the Congress. In December 1863, the Director of the Mint submitted designs for new one-cent coin, two-cent coin, and three- cent coin to Secretary Chase for approval. He proposed that upon the designs either OUR COUNTRY; OUR GOD or GOD, OUR TRUST should appear as a motto on the coins. In a letter to the Mint Director on December 9, 1863, Secretary Chase stated: I approve your mottoes, only suggesting that on that with the Washington obverse the motto should begin with the word OUR, so as to read OUR GOD AND OUR COUNTRY. And on that with the shield, it should be changed so as to read: IN GOD WE TRUST. The Congress passed the Act of April 22, 1864. This legislation changed the composition of the one-cent coin and authorized the minting of the two-cent coin. The Mint Director was directed to develop the designs for these coins for final approval of the Secretary. IN GOD WE TRUST first appeared on the 1864 two-cent coin. Another Act of Congress passed on March 3, 1865. It allowed the Mint Director, with the Secretary’s approval, to place the motto on all gold and silver coins that “shall admit the inscription thereon.” Under the Act, the motto was placed on the gold double-eagle coin, the gold eagle coin, and the gold half-eagle coin. It was also placed on the silver dollar coin, the half-dollar coin and 270 the quarter-dollar coin, and on the nickel three-cent coin beginning in 1866. Later, Congress passed the Coinage Act of February 12, 1873. It also said that the Secretary “may cause the motto IN GOD WE TRUST to be inscribed on such coins as shall admit of such motto.” The use of IN GOD WE TRUST has not been uninterrupted. The motto disappeared from the five-cent coin in 1883, and did not reappear until production of the Jefferson nickel began in 1938. Since 1938, all United States coins bear the inscription. Later, the motto was found missing from the new design of the double-eagle gold coin and the eagle gold coin shortly after they appeared in 1907. In response to a general demand, Congress ordered it restored, and the Act of May 18, 1908, made it mandatory on all coins upon which it had previously appeared. IN GOD WE TRUST was not mandatory on the one-cent coin and five-cent coin. It could be placed on them by the Secretary or the Mint Director with the Secretary’s approval. The motto has been in continuous use on one-cent coins since 1909, and on the ten-cent coin since 1916. It also has appeared on all gold and silver dollar, half-dollar and quarter-dollar coins struck since July 1, 1908. President Eisenhower approved a Joint Resolution of the 84th Congress on July 30, 1956 declaring IN GOD WE TRUST as the national motto of the United States. IN GOD WE TRUST was first used on paper money in 1957, when it appeared on the one-dollar silver certificate. The first paper currency bearing the motto entered circulation on October 1, 1957. The Bureau of Engraving and Printing (BEP) was converting to the dry intaglio printing process. During this conversion, it gradually included IN GOD WE TRUST in the back design of all classes and denominations of currency. As a part of a comprehensive modernization program the BEP successfully developed and installed new high-speed rotary intaglio printing presses in 1957. These allowed BEP to print currency by the dry intaglio process, 32 notes to the sheet. One-dollar silver certificates were the first denomination printed on the new high-speed presses. They included IN GOD WE TRUST as part of the reverse design as BEP adopted new dies according to the law. The motto also appeared on one-dollar silver certificates of the 1957-A and 1957-B series. BEP prints United States paper currency by an intaglio process from engraved plates. It was necessary, therefore, to engrave the motto into the printing plates as a part of the basic engraved design to give it the prominence it deserved. One-dollar silver certificates series 1935, 1935-A, 1935-B, 1935-C, 1935-D, 1935-E, 1935- F, 1935-G, and 1935-H were all printed on the older flat-bed presses by the wet intaglio process. P.L. 84-140 recognized that an enormous expense would be associated with immediately replacing the costly printing plates. The law allowed BEP to gradually convert to the inclusion of IN GOD Figure 2. The first use of “In God We Trust” on coins was in 1864 on the 2 cent pieces. 271 WE TRUST on the currency. Accordingly, the motto is not found on series 1935-E and 1935-F one-dollar notes. By September 1961, IN GOD WE TRUST had been added to the back design of the Series 1935-G notes. Some early printings of this series do not bear the motto. IN GOD WE TRUST appears on all series 1935-H one-dollar silver certificates. Below is a listing by denomination of the first production and delivery dates for currency bearing IN GOD WE TRUST: Production Delivery $1 FRN Feb 12, 1964 Mar 11, 1964 $5 LT Jan 23, 1964 Mar 2, 1964 $5 FRN Jul 31, 1964 Sep 16, 1964 $10 FRN Feb 24, 1964 Apr 24, 1964 $20 FRN Oct 7, 1964 Oct 7, 1964 $50 FRN Aug 24, 1966 Sep 28, 1966 $100 FRN Aug 18, 1966 Sep 27, 1966 Origin of the Motto on Paper Money The impetus for getting the motto on U.S. paper money resulted from a campaign orchestrated by Matthew H. Rothert, a Christian Scientist, coin collector, and founder of the Camden Furniture Company of Camden, Arkansas. Rothert eventually became president of the American Numismatic Association from 1965 to 1967, The following is abstracted from the “In God We Trust” web site, that illustrated key documents from Rothert’s crusade. Rothert floated the idea while president of the Arkansas Numismatic Society at a quarterly meeting in Mountain Home, Arkansas, on November 1, 1953. He then wrote Secretary of the Treasury George Humphrey on November 25, 1953 suggesting the idea, followed by a letter to President Eisenhower five days later. Rothert received a reply from Edward F. Bartelt, Financial Assistant Secretary, dated February 3, 1954, in which Bartelt stated: As you know, provision was made by law in 1865 for placing this motto [In God We Trust] on coins. Another act providing for the inscription became law in 1908. During debate on the 1908 measure, the suggestion was made that the motto be placed on currency, but no action was taken on this point. From the record of this legislation, which has been reached that a clear precedent was set for Congressional action in such a matter, and that Secretary of the Treasury should not undertake to act individually. Rothert persisted with a publicity campaign and petition drive, and worked with the Arkansas congressional delegation, until bills supporting inclusion of the motto were introduced into the Senate by Democrat J. William Fullbright of Arkansas, chairman of the Senate Banking Figure 3. Matthew H. Rothert. American Numismatic Association photo. 272 Currency Committee, and into the House of Representatives by Charles T. Bennett of Florida and Oren Harris of Arkansas. When the bill seemed destined to die in committee, Rothert learned that Senator Almer S. “Mike” Monroney, of Oklahoma, had been named chairman of the subcommittee handling the bill. Rothert recalled: “When I contacted my old friend and former furniture dealer Senator Monroney, he assured me he would bring the bill up for passage.” Several amendments were offered to make the bill unacceptable, but these were voted down. More Background The history of the Bureau of Engraving and Printing (1962, p. 176-178) adds valuable in-depth details. In addition to coins, the motto appeared first on the new 8- cent ordinary postage stamp released on April 9, 1954, followed by the 3-cent denomination on June 21st. The timing of these issues and Rothert’s campaign was not a coincidence. The BEP account contains a choice Lincoln quote recorded by Ward Hill Lamon (1895), Lincoln’s confidant and self-appointed bodyguard. Lincoln was then presiding over a virtually empty treasury, so when presented with the idea of putting the motto on greenbacks, he replied: “if you are going to put a motto on the greenbacks, I would suggest that of Peter and John: ‘Silver and gold we have not, but what we have we’ll give you.’” When Representative Charles Bennett first introduced his legislation in the House on January 5, 1955, his bill required that the motto should appear on all currency within six months of enactment. In answer to a request for comment from the office of the Secretary of the Treasury, BEP Director Alvin Hall advised that the motto could most easily be incorporated on new dies- being prepared for the high-speed 32-subject rotary presses being contemplated. Secretary of the Treasury George Humphrey pointed out that specific legislation was not required for currency design changes, because the Secretary was empowered by the then existing laws to issue paper money in such form as he deemed suitable. Thus Humphrey, with the approval of President Eisenhower, authorized addition of the motto on currency printed from the coming 32-subject plates. Furthermore, the Secretary pointed out that imposition of a 6-month deadline for adopting the motto would incur substantial additional costs because the existing inventory of plates would have to be scrapped. The Secretary proposed that the bill be amended to read: That as such time as new dies for the printing of currency are adopted in connection with the current program of the Treasury Department to increase the capacity of presses utilized by the Bureau of Engraving and Printing, the dies shall bear, at such place or places thereon as the Secretary of the Treasury may determine to be appropriate, the inscription “In God We Trust.” This language was substituted by Bennett with the additional proviso “and thereafter this inscription shall appear on all United States currency and coins.” This form of the bill was passed unanimously by the House and Senate respectively on June 7 and June 29, 1955, and signed into law by Eisenhower July 11, 1955. Although use of the motto already was in the works at the Bureau, the legislation unambiguously required its use on all of the nation’s money as soon as practical. Figure 4. The first use of “In God We Trust” on a postage stamp was this 8-cent stamp released on April 9, 1954. 273 274 Figure 5. Models of uniform backs that exhibit “In God We Trust” inserts. The models were approved March 15, 1956. National Numismatic Collection photos. 275 Figure 6. Top note: last Series of 1935G no-motto note delivered. Bottom note: first Series of 1935G note with motto, The missing 1,001 serial numbers from this sequence were replaced by star notes. 276 Shown on Figure 5 are models with the motto for uniform back that were approved March 15, 1956. These are now housed in the National Numismatic Collection, Museum of American History, Smithsonian Institution, Washington, DC. Series of 1957 $1s The BEP installed new high-speed rotary intaglio printing presses in 1957 that allowed currency to be printed on dry paper using newly developed non-offset inks. One major advantage of the dry method was that paper shrinkage no longer was a factor so plate size was increased from 18- to 32- subjects. The first 32-subject production consisted of $1 Series of 1957 silver certificates that went to press in July 1957, with first deliveries to the Treasury on September 9, 1957 for release to the public October 1st. They included IN GOD WE TRUST as part of the back design in accord with the Act of July 11, 1955. Series of 1935 $1s The other classes and denominations of currency including the $1 Series of 1935 silver certificates were printed on flatbed presses using wetted paper. The Act of July 11, 1955 recognized that an enormous expense would be associated with immediately replacing the existing costly printing plates used on the flatbed presses. Thus, the law permitted the BEP to gradually include In God We Trust as production moved to the high-speed rotary presses. The first 32-subject production for the other classes and denominations were launched as Series of 1963 notes. The output of the rotary presses was insufficient to meet $1 demand so Series of 1935 silver certificates without the motto continued to be printed on 18-subject flatbed presses. The Series of 1935F was current when Series of 1957 production began so 1935F and later 1935G notes were produced without the motto. Of course, the religious right, fanned by the press, claimed the missing motto on the 1935 series notes was the result of an atheistic conspiracy within the government, so they showered the White House, Congress, Treasury and BEP with more than a thousand complaints, many being Figure 7. AIn God We Trust@ was incorporated in the state seal of Florida, first used in 1874 on Original Series National Bank Notse. These National Bank Notes sported the first use of the motto on U.S. currency through this happenstance. 277 lengthy petitions from religious, civic and veterans’ organizations. To quell the unrest, all the Series of 1935 $1 silver certificates began to be printed with the motto mid-series in the Series of 1935G beginning on September 15, 1961. The changeover was abrupt beginning with serial D48960001J. That note is illustrated on Figure 6. The motto followed on other denominations and classes of currency as 32-subject plates for those issues came on line. Those notes first appeared bearing a series date of 1963. First Historic Use of the Motto The first use of the national motto on U.S. paper money occurred with the issuance of Original Series national bank notes from The First National Bank of Florida, Jacksonville, charter 2174, beginning in 1874. The motto happened to be incorporated into the Florida state seal, which appeared on the backs of those notes. The first shipment of notes to the Jacksonville bank consisted of 675 sheets of the Original Series 10-10-10-10 combination sent to the bank from the Comptroller of the Currency’s office September 5, 1874. The Florida seal saw continued use on the ensuing Series of 1875 and 1882 brown back issues from the Jacksonville bank and several younger Florida national banks. It continued to appear on Florida national bank notes in those series through mid-1908. Similarly, the backs of the $5 Series of 1886 silver certificates carry an illustration of five silver dollars, four of which are reverses, so parts of the motto show on them. The motto does not appear on any of the gold coins on the backs of national gold bank notes. References Cited and Sources of Data Bureau of Engraving and Printing, 1962, History of the Bureau of Engraving and Printing, 1862-1962: U.S. Government Printing Office, 199 p. “In God We Trust” on our currency web site: http://asms.k12.ar.us/armem/martin/indepth.htm [now obsolete] Lamon, Ward Hill, 1895, Recollections of Abraham Lincoln, 1847-1865: (reprint 1994) University of Nebraska Press, 392 p. U.S. Statutes, Acts of July 11, 1955 and July 30, 1956 pertaining to the national motto: Government Printing Office, Washington, DC, U.S. Treasury Department web site: http://www.ustreas.gov/education/fact-sheets/currency/in-god-we-trust.shtml [now obsolete] Figure 8. “In God We Trust” occurs on the backs of the silver dollars pictured on the banks of the $5 Series of 1886 silver certificates. 278 THE KIRTLAND SAFETY SOCIETY BANK CEREMONIAL BANK FIRST SIGNINGS by Douglas A. Nyholm with additional research by Dave Hur PART 1 HISTORY AND PURPOSE OF THE BANK There has been quite a lot written regarding Kirtland Safety Society Banknotes. They were first issued in Kirtland Ohio in early January of 1837 and later reissued in Salt Lake City Utah in 1849 after the Saints immigrated west from Kirtland and other points east. The banking industry in 1837 had hundreds of banks operating individually, some with currency issued which generally circulated in their immediate area. Many of these banks did not have a legal charter and the value of their currency varied greatly. It was a real problem when any transfer of specie from one institution to another was needed. This situation went from bad to worse in 1837 when the nation went into what was called “The Panic of 1837.” This downturn in the economy began in New York and rapidly spread to hundreds of banks nationwide. The Kirtland bank was formed in 1837, which was probably the worst time in our nation’s history to open a new bank. The Kirtland bank was not intended to be a regional banking powerhouse but to function as a service to the many Mormons who had settled in the Kirtland area. It’s circulating Kirtland banknotes were meant to operate as a medium of exchange only within the immediate community. The Prophet, Joseph Smith Jr., urged the members of the Church to invest in the bank hoping that it would be successful, and its currency would generally be accepted as a known commodity and specific value. Unfortunately, the bank was doomed before it ever got off the ground. PART 2 PREVIOUS RESEARCH There has been much research regarding the Kirtland Bank, many books, articles, and studies both regarding the beginning and failure of the bank have been written. In my book “Mormon Currency 1837-1937” written in 2010 I performed extensive research into the currency of the Kirtland bank along with many other Mormon scrip and coinage issues. The collectability of Kirtland banknotes has always been popular due to the people and signatures associated with the banknotes and Mormon history. In the groundbreaking book written in 1984 by Alvin Rust, which was the inspiration for my book, Alvin did extensive research into Kirtland banknotes and as with many numismatic researchers he attempted to devise an emission sequence for the notes themselves. He was never able to achieve this goal. During my research I created a list of all known Kirtland banknotes which included their serial numbers, date of issue, signatures, and other details. There are over 500 notes presently in this census. Originally, I was hopeful that I would be able to understand specifically how they were issued but no pattern emerged from my research either. Then enter Dave Hur, a local Utah collector also interested in Kirtland banknotes, and he was also unable to de-code any emission sequence for the notes but came up with the very significant “First-Signing” ceremony, which he identified which notes were signed and initiated the banks existence in a special meeting or ceremony. During his research new evidence was also uncovered regarding the failure of the bank and the fraud that ensued. Kirtland $10 Banknote. Serial #6. 279 PART 3 FUNCTIONALITY / HISTORY / INDIVIDUALS The two individuals most often associated with Kirtland banknotes are Joseph Smith Jr., the Profit and President of the Church whose signature appears on the majority of Kirtland banknotes as cashier. The other individual is Sidney Rigdon who was Counselor to the Prophet and signed most Kirtland banknotes as President of the bank. For the scope of this article, I will limit the names of people who were directly associated with the bank and/or whose signatures appear on the actual notes. This also will be limited to those who were related to the Kirtland Bank during the period of time that it operated only in Kirtland Ohio during 1837. Many notes were re- issued later in Salt Lake City in early 1849 and counter-signed by Brigham Young, Heber C. Kimball, and Thomas Bullock. Other signatures appearing on the Kirtland Banknotes issued in Ohio include the following: Frederick G. Williams Counselor to the Profit Joseph Smith Jr. N.K. Whitney Early Bank official sometimes signing as President W. Parrish Became President of the Bank after Smith and Rigdon severed ties J. Kingsbury Became Cashier of the Bank after Smith and Rigdon severed ties PART 4 EMMISION SEQUANCE / SIGNATURES It has been generally accepted that multiple scribes were responsible for signatures appearing on Kirtland banknotes. It has also been accepted that Joseph Smith Jr. also signed a number of Kirtland notes. As you can imagine the Prophet and president of the Church had many responsibilities other than signing tens of thousands of banknotes thus the use of scribes. Until recently no one had officially confirmed or denied which Kirtland notes carried his actual signature even though Joseph’s signature is well known and confirmed on other documents. Recently, Brent Ashworth, a well-known Mormon historian who collects and sells Mormon documents, historical items, including Kirtland banknotes, personally authenticated the Joseph Smith Jr. signature on a $10 note with serial number six. (This note is pictured on page 1 of this article) This note has turned out to be one of the key notes in this article. Brent also recently sold the only partial un-cut sheet of Kirtland banknotes outside of the Church holdings which had been signed in preparation for issuance. This original four-subject sheet, which was missing the top note, was also authenticated to contain Joseph Smith’s actual signatures. Other un-signed sheets are known. As stated, the first attempt to determine an emission sequence was attempted by Alvin Rust in 1982 while writing his book on Mormon currency. Alvin spent considerable time and effort in an attempt to determine any logical emission sequence for Kirtland banknotes but was unable to unravel a pattern. He felt that this was important in order to understand the daily bank operations and also help unravel the fraud which later occurred in the bank later in 1837. Later, Doug Nyholm spent a significant amount of research beginning with the construction of a census of Kirtland banknotes but also was met with no pattern or logical reason how the notes were issued. Each note is dated, signed, and has an applied serial number all of which were applied by hand. As one can imagine, this hand process, which was applied to thousands of notes and often penned by multiple individuals and can be problematic in deciphering the correct numbers and dates. Joseph Smith, Jr. Sidney Rigdon 280 ISSUE DATES TABLE Date Issued # Date Issued # Jan 3, 1837 1 Mar 1, 1837 21 Jan 4, 1837 77 Mar 4, 1837 7 Jan 5, 1837 4 Mar 7, 1837 2 Jan 8, 1938 18 Mar 8, 1837 54 Jan 9, 1837 1 Mar 9, 1837 88 Feb 1, 1937 3 Mar 10, 1837 1 Feb 4, 1837 2 Mar 24, 1837 1 Feb 7, 1837 39 Apr 16, 1837 1 Feb 8, 1937 3 May 8, 1837 1 Feb 10, 1837 45 May 9, 1837 2 Feb 11, 1837 1 June 8, 1837 2 Feb 17, 1837 1 July 4, 1837 3 Feb 20, 1837 13 July 20, 1837 1 In order to understand the issuance, one has to begin with the study of how and when the signatures, dates, and serial numbers were applied. One would initially presume that the notes would be completed and issued with these fields at the same time or nearly so. This assumption appears to be far from the actual application. On some notes up to three different colors of ink were used, which I believe that this, and other research tends to indicate that the completion of the notes may have been days or even weeks apart. This would explain the inability to determine any logical emission sequence. Why then would these fields be applied at such varying times? There are a couple of reasons for this. For the note to be authenticated and complete, both signatures, date, and serial number would have to be present. The authorized signers may not have been present to sign when note(s) were needed. The notes may very well have been signed in advance, then numbered and/or serialized when needed. At that point their issuance could be entered into the bank’s ledger. There is also a “Will Pay To” field which was filled out somewhat in the same manner as a modern check. Research has not been complete regarding the names in this field, which as it turns out, may lead to additional information as to how and when some of the notes were issued. This is especially important regarding the “First Signing” of Kirtland banknotes as we will see. PART 5 FIRST SIGNING’S This brings us to the crux of this article and the research undertaken in an attempt to understand the emission sequence which led to the meeting or ceremony where the first Kirtland banknotes were officially signed. Other than these first 14 notes there may never be discovered or even if there was a process by the bank officials to set any kind of emission standard. The research regarding these initial intended first 14 notes sequentially serialized is quite interesting and profound. To begin with, in addition to the dates and serial numbers on the notes, was the physical location of Church President Joseph Smith Jr. and bank President, Sidney Rigdon during early 1837 which shows that they were both in Kirtland in early January. This was a much more complex factor than anyone before Dave Hur had attempted to associate with the issuance of Kirtland banknotes. This factor plays directly into how (and when) the notes were issued and is an integral part in connecting the issuance of the notes and bank operations. (See the table of issuance dates which also factors in the other signing periods.) As per the existing bank ledger’s which shows issued notes, the information does coincide with other dates that Joseph Smith Jr. and Sidney Rigdon were physically present in Kirtland. These dates coincide with the high issuance numbers. To explain this, one must be familiar with the conditions of the original bank charter. Article 14 states that the presidency of the bank must be present at the time the banknotes were to be signed and/or prepared for circulation. It is also stated therein in the last Article of the Charter, (#16) which allows for any other article to be changed or modified except Article 14. Article 14 - Requires that the notes of the Society be signed by the President and Cashier. (or scribes in the presence of the President and/or Cashier) Article 16 - States that any of these articles, except the 14th, may be altered by two-thirds of the members of the Society. In this way the Kirtland Safety Society was organized. 281 Therefore, Joseph and Sydney must be present for notes to be signed, but not necessarily be the actual signers. Enter the use of scribes. The assumption regarding these low authenticated serial number notes is that they were indeed signed and numbered in a special ceremony. It is also presumed that the actual signatures of Joseph Smith Jr. and Sidney Rigdon are present on these first notes which have now been authenticated. Previously no Church official or other person has authenticated these signatures on Kirtland notes until Brent Ashworth. Due to this additional research, for the first-time authentication has now been completed for the $10 Note #6 stating the Joseph Smith Jr. did sign this note. The signatures on number 6 note can been compared with other notes #4, #5, #11 and #13 as well as to other well-known Church signatures on other documents for additional verification regarding the signature. Regarding other Kirtland notes the accepted rule was that most were completed by scribes. It has been accepted that Joseph did sign a number of other Kirtland banknotes but his authenticated signatures on these low serial number notes adds significance for these low serialized and first notes to be issued. It is also significant regarding this group of low serial number notes to have the actual signature of Joseph Smith Jr. authentication and as you can see from the layout of these notes it had to be a special event that culminated in the signing. Up to now value of Kirtland notes has not been affected by the signatures being from scribes but this may change for this series of low serial numbers with authenticated signatures. Comparing signatures side by side of notes #5, #11, and #6 shows subtle but significant differences. The signature of Joseph Smith Jr. is very distinctly different in several ways. There is a front loop to the “J”, an open top loop to the “S” in a leaning low profile, the crossing and style of the “TH”, the “v” style ending to “Jr”, the overall 282 smaller, lower height of the entire signature, etc. Regardless of potential value these comparisons along with the new research show the ceremonial or first signing took place in Kirtland with Joseph Smith and a number of Church officials present. Dave Hur’s research into the “Will Pay To” issued names is ongoing, but very conclusive for some names & individuals. Research has shown that the individuals (most likely) present at this ‘First Signing” were Joseph Smith Jr., the First Presidency, the Quorum of the Twelve, (including Sidney Rigdon) and The High Council at Kirtland. This information comes from the Journal of Wilford Woodruff—Journal entry of Jan. 6th, 1837 where he describes the issuance of the “first notes”, by Joseph Smith Jr, to a “Brother Bump in exchange for other notes.” This took place at the “printing office”. Bump was not a stockholder but a prominent landowner in Kirtland. Regarding the completion of these notes the ‘Will Pay To’ field may have been left incomplete until it was issued to prevent the notes use in the event it was stolen or utilized for some other unauthorized or fraudulent purpose. It still doesn't completely explain the timing of the other date and serial number fields. Another possibility concerning the two signatures required is that the scribe(s) required to apply the signatures could sign a number of notes at one time during Smith and Rigdon’s presence and then the date and serial number could later be applied. According to Article 14 the scribe’s signature would have to be completed in the presence of Smith/Rigdon. Then the ‘Will Pay To’ field would most likely be the last field completed at the time of issuance or demand at the bank. These factors could explain the different colors of ink. We come back to both the uncut sheets which were signed and completed and those which were not. One signed sheet is pictured in Rusts book of a complete sheet in the Church’s holdings. The second i s a partial sheet which recently came on the market that is missing the top note and now held in a private collection. These two signed sheets are very important as they indicate how the notes were numbered sequentially top to bottom and completed for the most part before the individual notes were cut apart. UNKNOWN SIGNATURE COMBINATION 283 These sheets make it possible to understand why a specific emission sequence is not possible to deduce as issuing of notes was completely at random other than the first 14 notes. The problem of determining any issuance sequence moved instead to a ceremonial “First Signing.” After considerable research, Dave Hur began to experiment with other possibilities. Fortunately, he hit on a sequence that was never previously examined by looking at notes with low serial numbers, and personally examining the uncut sheets. It is known that the #1 serial number was not used for any different denomination and although many low serial numbered Kirtland notes have been lost through time there were several known to confirm his new hypothesis. It was then possible to construct a pattern regarding these low serial numbers and using the known sheet configurations to construct a ceremonial signing. It seemed logical that if the existing low serial numbers and signed sheets indicate a sequential number pattern then this could apply to the sheet ($1-$1-$2-$3) beginning with Serial #1. The lowest numbered note was a $3, #4 and it fits as the last note on the first sheet, and then positioning several un-cut sheets together a pattern began to emerge. Could it be that the issuance began with the lower denomination sheet such as the $1-$1-$2-$3 sheet would continue with multiple other sheets with this format and eventually transition to the higher denomination sheets and could this indicate a possible 284 ceremonial signing by Church and bank leaders? The first task was to identify as many low serial numbered notes known and then try to construct a pattern. This was a daunting task as there are very few low serial numbered notes which have survived and the search was on. Ultimately enough of these low numbered notes became known whereas at least one note in each of the sheets identified for the first signing could be identified. FIRST SIGNINGS TABLE CHART $1 #1 $20 #5 $5 #7 $20 #11 $1 #2 $10 #6 $5 #8 $10 #12 $2 #3 $5 #9 $3 #4 $10 #10 $50 #13 $100 #14 The numbers in red/bold are those of surviving notes. At this point in time the following low serial numbers are known: $3 s/n 4 $20 s/n 5 $10 s/n 6 $5 s/n 7 $20 s/n 11 (Initially thought to be s/n 4) $50 s/n 13 If one would look at this, there is simply no other possible solution, or reason, why these denominations contained these serial numbers. However, there is a definite pattern which can only be credited to Dave’s persistence and ability to solve one of the most complex riddles ever attempted regarding obsolete paper money. 285 SHOW LOW S/N AND THEIR DATES $3 #4 This is a Jan. 3 Anti-Bank with a unique XXXX through the word bank $5 #7 Not in Census, verified by the Authenticator, the previous owner. {Brent} $10 #6 2-20-37 See New Image, HUR2 $20 #5 2-10-37 $20 #11 2-10-37 $50 #13 3-9-37 To revisit the ‘Will Pay To’ field this comes into play with these low s/n notes and the first signing. One observation is that Hyrum Smiths name appears on the $10 note with serial #6. As this is Joseph’s brother this indicates that a group of Church leaders were together and taking part in the ceremonial signing of some of the first notes? At least Joseph Smith Jr., Sidney Rigdon, and Hyrum Smith were together. Further research including documentation in the ‘Church History’ volumes and Journal s places this leadership together in Kirtland between the 2nd and 4th of January 1837—and further research shows that Joseph Smith stated that he led a religious discussion with the brethren in his office on Jan. 4th, after which business was conducted. The “office” would refer to “His office,” on the 3rd floor office of the Temple. Several of the individuals that would already be present there are on the early notes. This meeting in Joseph Smiths office is documented by Joseph Smith’s Journal entry where the afore mentioned First Presidency attendees included Hyrum Smith (note #6) Carter (note #5) who was President of the High Council in Kirtland, Orson Pratt (note #4) and others. PART 6 UNCUT SHEETS The surviving uncut sheets have played an important part in piecing together the First Signing of the Kirtland banknotes. Most uncut sheets are unsigned and un-numbered but at least two have survived, one in the Church archives and one in private hands. All possible original sheet configurations are known to exist which is helpful, including the two completed sheets previously mentioned. These two indicate the manner that the notes were numbered, from the top down prior to cut apart. It is important that all four surviving sheet configurations have survived. These include: $1-$1-$2-$3; $5-$5-$5-$10; $20-$50; $50-$100. 286 PART 7 FAILURE AND FRAUD The Kirtland bank ledgers were a good source of information especially when the fraud began occurring in late March of 1837. These ledgers would record credits on one side and debits on the other side. When notes were returned to the bank, they were either credited or debited to a particular account. Multiple pages are missing today which are most likely attributed to Warren Parish’s fraud attempts. Fraud and land speculation was rampant and was rife within the Kirtland area involving the Kirtland bank. Warren Parrish was guilty of committing fraud and was using the Kirtland bank as his personal source of funding for his land purchases. He would take redeemed notes from the bank and pass them as good currency as soon as they came in. He would do this multiple times for land purchases if he could and pass the banknotes to the unsuspecting recipient. The banks finances and fraudulent funds being used by Parrish began to unravel rapidly and the lawsuits against the bank began to mount. There were almost a dozen lawsuits filed against the bank naming president, Joseph Smith Jr. as the plaintiff. A $1000 bond was posted and forfeited after Smith failed to appear for one of the lawsuits. Joseph Smith Jr. was not in town to appear for the other court appearances. Historical documents have shown that W. Parrish admitted to embezzling over $20,000, and there was strong evidence that he took much more, according to George A. Smith, Acting as Auditor for the Prophet, the Journal of Wilford Woodruff, and the history of Heber C. Kimball. George A. Smith accused him of taking over $100,000. It is interesting to note that Smith’s and Rigdon’s signatures also appear on notes issued and dated well after the Banks closure. The fact that these signatures appear after closure, and that Joseph Smith in court proceedings specifically denied the authorization of these notes – would indicate willful fraud and deceit by (at least) Warren Parrish, who continued to operate the Bank months after the official closing on June 20th. The signatures would have been fraudulently applied to lend credibility to the notes. Officially the bank closed on June 20, 1837, but any solvent operations realistically did not occur after the end of March. This gets more complicated as there are eight known signature combinations with a ninth one which cannot be traced to any individuals. This note is almost certainly fraudulent. Regarding the eight combinations, only three had neither Smith’s nor Rigdon’s signatures. It is also interesting to note that Smith’s and Rigdon’s signatures also appear on notes issued and dated well after the bank’s closure. It is also likely that these signatures were forged after the closure and actual failure of the bank as Joseph Smith’s in court proceedings, specifically denied any further authorization of Kirtland notes. Even though the bank failed, and many investors and individuals were defrauded, the bad debts were corrected decades later by the Church when it was operating from Salt Lake City. [See Warren Cowdery Journal for reparation efforts from Nauvoo, IL, late 1843, 5 years removed] All previously defrauded individuals were paid in full. It is interesting that even though the Kirtland bank failed almost upon its onset during its beginning in 1837 its notes were re-issued, counter-signed, and circulated in 1849 in Salt Lake City. These notes were backed by gold deposited in the Church from miners returning from California during the gold rush. Joseph Smith’s prophecy would be fulfilled, stating that the notes would someday be “As Good as Gold.” PART 8 SUMMARY AND CONCLUSIONS Trying to decode the operations of the Kirtland Bank, or for that matter any obsolete bank that operated over 150 years ago is almost impossible. Due to the extensive research and Church records that have survived regarding the Kirtland Safety Society Bank is certainly helpful, but even with this bank many of the day-to-day operations were not recorded. This new research is very compelling as to what very likely happened in early January of 1837 regarding the probable ceremonial signing of the first few sheets of currency to be issued by the bank. It if very fortunate that there is at least one surviving note from each sheet in order to produce an image of what was probably lying on the table at this meeting and would be initiated and signed by those leaders and officers in attendance. In regard to the emission sequence regarding which is probably the case with most obsolete banks of the period, a similar problem probably exists. These banks did not really care or take note of how their banknotes were issued or tracked and many were probably defunct before anything could be tracked anyhow. Research, both past and present, into the much- documented Kirtland bank probably gives us some idea of just how the operations of these early banks was done. Although this new research cannot be inequivalently proven as to what happened it is certainly compelling evidence and a masterful bit of sleuthing by Dave Hur. 287 WORLDWIDE AUDIENCE LIVE BIDDING ON OUR WEBSITE & MOBILE APPS DEDICATED CATALOGS & SALES FOR ADVANCED COLLECTIONS 0% COMMISSION FEE ON ALL CONSIGNMENTS WORLD BANKNOTE AUCTIONS SPECIALIZING IN US PAPER MONEY info@worldbanknoteauctions.com +1 (916)-701-5132 / (888)-707-1564 World Banknote Auctions P.O. Box 348144 Sacramento, CA 95834 United States www.worldbanknoteauctions.com NEW FRACTIONAL DISCOVERY – SECOND ISSUE 25¢ (Fr. 1286a) SLATE BACK WITH AN INVERTED BRONZE ‘S’ SURCHARGE By Rick Melamed It is surprising that 160 years after they were produced, new varieties of Fractional notes still surface. In this case, a rare Fr. 1286a slate back second issue 25¢ note with an inverted ‘S’ bronze surcharge has publicly surfaced. It is an exciting new discovery and has created quite a buzz among Fractional collectors since the inverted ‘S’ variety has only been observed on the purple back. Before we dive into the new discovery, we will present a short description of the second issue 25¢ Fractional varieties. They are based on paper type and the reverse corner surcharges (the Treasury used them as an anti-counterfeiting measure): 2nd Issue 25¢ Fractionals by Friedberg Number (Regular Issue): Fr. 1283 (Plain paper, no corner surcharge) Fr. 1284 (Plain paper, ‘18-63’ surcharge) Fr. 1285 (Plain paper, ‘A-18-63’ surcharge) Fr. 1286 (Plain paper, ‘S-18-63’ surcharge) Fr. 1286 – Milton #2R25.3g (Plain paper, inverted ‘S’ surcharge) Fr. 1286a (Plain paper - Slate back, ‘S-18-63’ surcharge) Fr. 1286a (Plain paper - Slate back, inverted ‘S’ surcharge) – New Discovery Fr. 1288 (Plain paper, ‘2-18-63’ surcharge) Fr. 1289 (Fiber paper, ‘T-1-18-63’ surcharge) Fr. 1290 (Fiber paper, ‘T-2-18-63’ surcharge) Almost all the 2nd issue 25¢ Fractionals have a purple back. Though they were made in various shades of purple due to inconsistent dye mixing, they do not warrant their own Friedberg number (see “Color Variation on the 2nd Issue 25¢ Fractionals” in Paper Money Nov/Dec 2022 – Whole #342). However, there are about three dozen of the Fr. 1286’s with the ‘S-18-63’ reverse corner surcharge that have a slate back, devoid of any purple, and have garnered their own Friedberg number – Fr. 1286a. Left/Center: Fr. 1286 Face/Back - Regular Purple Back with ‘S-18-63’ Bronze Corner Surcharge. Far right: Fr. 1286a – with slate back with ‘S-18-63’ Bronze Corner Surcharge. Note the Olde English font on the corner surcharges. Printing on the second issue 25¢ note was a 3-part process. Part 1 was the face design, part 2 was the back design; and part 3 was the application of bronze surcharges on the front (large bronze oval around Washington’s portrait), and a large bronze ‘25’ on the back. On all but the Fr. 1283, bronze corner surcharges were added. On a handful of the Fr. 1286 Fractionals (with the ‘S-18- 63’ S/C) the ‘S’ was inverted creating an interesting error. Milton Fridberg catalogued it as 2R25.3g in his comprehensive reference, The Encyclopedia of United States Fractional and Postage Currency. On the regular Olde English ‘S’ font, the decorative loop is at its normal position - on the bottom; on the inverted ‘S’ variety, the loop is on the top. The inverted ‘S’ error variety is rare, maybe two dozen are known. 289 Now for the new discovery Fractional. Up until the Heritage auction on May 19, 2024, all the Fr. 1286a errors known were on the purple back. In the May 19, 2024, auction, Heritage had a couple hundred quality Fractionals for sale. Lot #95075 was a second Fr. 1286a graded PMG58EPQ and sold for $1,560. However, this one was special – something never cataloged before. The Fr. 1286a had an inverted ‘S’, the first ever recorded on a slate back. The consignor, Heritage and PMG missed the inverted ‘S’. It is understandable that it was overlooked since the ‘S’ is very small and easy to miss unless one is looking for it. Left/Center: Front/back of an Fr. 1286a slate back Fractional with the inverted ‘S’. Right: Enlarged inverted ‘S’ from the back of the Fr. 1286a – note the loop on the top. For the sake of completeness, their also exists a second issue 25¢ Experimental with an inverted ‘S’. The Experimentals use the same surcharge as the regular issue Fractionals, resulting in an identical error: Left/Center: Milton 2E25F.2 – 25¢ Experimental with regular ‘S’ corner surcharge. Right: Very rare, back of a 25¢ Experimental with an inverted ‘S’ surcharge (Milton 2E25F.6f). This is an important regular issue discovery note, the only example known, and is sure to motivate collectors to see if their Fr. 1286a might contain the inverted ‘S’ variety. To that end, looking through the Lyn Knight, Heritage and Stacks/Bowers auction archives, no similar examples could be found. This new discovery note has clearly earned its own Milton number. Thanks to former Fractional Currency Collector Board (FCCB) president, Mike Marchioni, for finding this exciting and landmark discovery and to Bob Laub. Also, thanks to Heritage for the images contained in the article. 290 U N C O U P L E D : PAPER MONEY’S ODD COUPLE Joseph E. Boling Fred Schwan Patriotic Aviation bonds - 1941 This issue I have a piece of collateral material related to a WWII bond series. The next two paragraphs are lifted with edits from Schwan-Boling, World War II Remembered. Patriotic Aviation bonds are probably the most popular of the Chinese war bonds among collectors because of the airplane vignette thereon (a Boeing P- 26, nicknamed the Peashooter). These bonds were issued in 1941 to raise US$50,000,000 to purchase aircraft for the nationalist air force (advised by US aviator Claire Chennault). They were bearer bonds without coupons and were issued in US$5, $10, $50, and $100 denominations. They were to be repaid within five years after the end of the war in an order determined by lottery. There is no mention of interest on the bonds; perhaps they were called “patriotic” because buyers patriotically gave up their money for a decade for the sake of the air force. Figure 1 shows a $10 bond; it and the $5 are 4.5" by 7.5"; the high denominations are larger. Boling continued page 294 MPC Fest–25 years!! We have mentioned MPCFest a few times here in Paper Money. It has been more than a few times, but now seems to be an appropriate time for a more detailed report since we have just celebrated the 25th anniversary of the first Fest.  I think that I can justifiably say that the Fest is an event unlike any other. I can also state that it was my idea. Although it was my idea, most of the important innovations that have developed were not my ideas. The Fest seed germinated in 1999 on a phone call with Harold Kroll. I confessed my idea to him of having an event celebrating MPC and MPC collecting. Harold said that if I held it, he would attend! It did not take any more encouragement. Twelve Festers met at a motel in Port Clinton, Ohio for a weekend of MPC tales and even a few transactions. Part of the reason for calling the event a fest was to avoid the idea that the event was like a traditional “show.” The basic idea was that Festers would pay a registration fee that included hotel room and meals for the entire weekend. Larry Smulczenski and I were working hard on the fourth edition of the MPC catalog (Comprehensive Catalog of Military Payment Certificates). We had recently concluded a research trip to the Bureau of Engraving and Printing. There we had solved the mysteries of multiple printings for MPC. Well, we had solved at least most of the mysteries. We presented the result of our research to the Festers. Now collectors eagerly seek MPC from as many as four printings of regular and replacement issues for a given series. That presentation was just the first of many landmark discoveries presented at MPCFests. Fig. 1 291 Intertwined with the history of MPCFest is the electronic newsletter MPCGram. The Gram started out as an irregular publication. It quickly developed into a daily message from headquarters. Now twenty- five years later it has settled down as a (more or less) weekly publication. Most issues include a lead news or feature story, an editorial, and letters to the editor. Because of the Fest, Gail Baker, then in charge of education at the American Numismatic Association, invited us (mostly Joe and me) to teach a class on military numismatics at the ANA summer seminar. Wow, I thought, that was a wonderful idea—we instantly accepted the invitation. Then reality set in. It was flattering to be invited, but it would be embarrassing if the class had to be cancelled for lack of students. That led to my next idea. We, the greater military numismatic community, could (should) offer scholarships to the seminar! While that was my idea, the important idea was Larry Smulczenski’s. He suggested that as part of the MPCFest we should hold a charity auction to fund the scholarships. Now that was a great idea! Larry organized the first Fest scholarship auction for Fest II and ran the next twenty or so auctions. Those auctions have been the primary source of funds for more than forty summer seminar scholarships that the MPC community has funded! Larry retired from the auctioneer position a few years ago. Dave Frank has taken over this important position and has done an equally great job. It is now called the Larry Smulczenski Scholarship Auction. Fest attendance at Fest II doubled to twenty-four and several other innovations were introduced. Souvenir notes were issued as pay at Fest I. That idea was expanded at Fest II, where the title “military fest certificate” was introduced. Fest-specific challenge coins were issued for the first time at Fest II. Both MFC and challenge coins have been issued at each on- site Fest since then and both are popular with Festers—and a few non-Festers too. Building a complete collection of these items is very difficult if not impossible. Larry had the idea to hold a Jeopardy style knowledge-based game at the Fest. The first year it was played as a team event. Starting with Fest III it was organized as a single elimination tournament with all Festers competing. That first individual tournament was won by Marcus Turner. The winner of this annual contest is now recognized as the national champion military numismatist. The fourth edition of the Comprehensive Catalog of Military Payment Certificates was released at Fest III. That was just the first of many publications that have been released at the Fest. The fifth edition of the MPC book is the most recent, in 2024. From the beginning, I discouraged Festers from bringing their wives or girlfriends to the Fest (at the time I did not know any female candidates to attend the Fest), because I did not want the Festers to be distracted. Well, as you can imagine, exclusion was not an idea that lasted very long. At Fest IV Loretta Freyser attended with her husband Richard because they were driving through the area. At first Dick hid the fact that Loretta was stuck in the hotel room! We resolved that misunderstanding and Loretta became a key—and keen—Fester. As much as my original idea for the Fest was to have the event centered on MPC (and MFC and more), I must report that romance is not dead at the Fest. Joe and Louise Boling were re-married at MPC Fest VI and each year at the Fest we celebrate their anniversary without regard to the actual date. A few years after the Boling wedding, Fester Cuneyd Tolek proposed marriage to Fester Kris Gilmore in front of the assembled Fest battalion. They recently celebrated their twelfth anniversary. Now several women perform key tasks at the Fest, and at least two attend alone because they are the MPC collector in the family. David Seelye was an active dealer. He suggested that we have a bourse as part of the Fest. In the beginning I had avoided any hint of a bourse because of the confusion factor. Still, the suggestion had merit. We developed the idea of a preFest to be held on the Friday before the Fest! Each Fest formally opens at dinner time on Friday. We have had a preFest bourse each year since. It is now known as the Seelye Memorial Bourse and has been quite successful. Collectors and even a few dealers come from several states away for a five- hour bourse and I have obtained some goodies for my collection at our bourse. The emphasis in recent years has evolved on education. Second generation Fester Ray Feller is the Fest education officer. At the most recent Fest, Ray Feller brought her two third generation collectors along. Recent Fests have featured as many as thirty presentations (we call them staff briefings) on a wide variety of military numismatic topics. The education/training highlight is usually the Saturday afternoon keynote presentation by a Fester or guest. We were very fortunate to have some spectacular guests. Len Buckley designed MPC Series 692 and described the process for Festers. Hans Walter was the last survivor of Operation Bernhard. He attended three Fests. He told us amazing details and is sadly missed. 292 Harold Brown was a Tuskegee Airman. He shared tales of combat and his time as a POW. He signed many short snorters and copies of his biography (Keep your Airspeed Up) for Festers. He too is sadly missed. Michael Schoene is a prominent collector and numismatic author from Germany. He told us about growing up in East Germany and his adventures in collecting World War II money. The champion for long-distance Fest travel is Greg Hale, who came from Australia to tell us about Japanese invasion money and his research thereon. We are always looking for interesting visitors! After all of this we get to Fest 2024. I got myself in a little trouble by calling it Fest XXV. The first Fest was in 2000. That would make Fest 2024 Fest XXV except that the Fests for 2020-2022 were canceled due to Covid. We had two eFests during that time so what ordinal is Fest 2024? I like to point out that when the International Olympic Committee cancelled the 1940 and 1944 Olympics because of the war, they counted the cancelled events. I figured that if it is good enough for the IOC, it is good enough for us. Not surprisingly, not everyone agrees. Nearly fifty Festers arrived at Camp Leo May (aka Holiday Inn Express, Port Clinton) on 12 April for Fest 2024. The knowledge competition and presentations start on Friday evening, but the highlight is the introduction of the new money and the payment of the troops (Festers). Fest chief finance officer Harold Kroll opened the box and introduced Series 241. Astronomy was the theme of the notes featuring portraits of great astronomers. After Fest 2023 we had four living three-time and retired champions (in order of achieving this, Jim Downey, Bill Myers, Fred Schwan, and Joe Boling). I should point out that Neil Shafer too was a retired three- time champion. Because this was the twenty-fifth anniversary Fest, we held a GOAT (greatest of all time) competition. The preliminary round eliminated two, then the remaining two met for the title. Sadly, I was eliminated first and Joe second putting Bill Myers and Jim Downey in the finals. It looked like a changing of the guard with the old guys kicked to the side of the road. Jim Downey went on to earn the title GOAT. I promise to get my revenge at the 50th anniversary Fest! On Saturday, training officer Ray Feller led us through more outstanding presentations. The Bob Olson award for the most outstanding staff briefing as determined by vote of the Fest battalion went to Dave Leong. He is doing research on the paper used for Operation Bernhard. This research has included papermaking in the kitchen sink! The finals of the annual competition (separate from the GOAT contest) were held on Saturday night. The final two were Harold Kroll and Larry Smulczenski. The 2024 national champion is Larry. The Ray Toy award is presented for outstanding service or achievement. It is named for legendary collector Ray Toy, who published five books on World War II paper money. The award is usually, but not always, made to a Fester. It is not awarded every year. The 2024 Ray Toy award for service went to Fester Dave Frank. Saturday night features an event that seems quite out of character with the rest of the Fest. It is the Fest poker tournament. This is a very low stakes, but high ego event. The winner receives a Fest poker bracelet and has their name recorded for history. Ray Feller among others is a three-time champion. It may not seem so, but this event is in line with the other educational re- enactments held at the Fest. Poker was important to soldiers and it was usually played with the notes that we study and collect today! 293 As usual, it was a hotly contested event. I made it to third place-—a spot that I have achieved a time or two in the past. Second place went to Dick Dunn. The winner and champion were first-time Fester Roy Greenwood. The Smulczenski Charity Auction is held on Sunday morning. The auction always includes interesting items, and this year was no exception. It even generates email and phone bidding! After the auction was completed, auctioneer Frank and scholarship chair Kathy Freeland announced that more than $3000 had been raised for scholarships this year! (see some lots below). Some Festers depart after lunch on Sunday. For those who stay, we generally have a field trip. This year we visited, as we have several times before, the Liberty Aviation Museum only about a mile from Camp May. The special purpose of this visit was to see Clark Gable’s personal World War II short snorter. Gable was a celebrity. He signed many short snorters, but he only had one that now belongs to the museum. It is not on public display, but the museum agreed to have it available for us to see and museum chief executive officer Ed Patrick was our docent. He thrilled us with many stories of history and acquisitions. Do you want to attend a Fest or learn more? You may subscribe to the MPCGram by writing to me at fredschwan@yahoo.com. You can download a copy of the 2024 Fest program at militarypaymentcertificates.us. In due course you can also download the 2025 program there. I promise to keep you informed of Fest 2025 as the time gets closer. Boling continued Only eleven aircraft were actually received by the Chinese air force—perhaps not enough patriots were found or perhaps the money went elsewhere. The $100 bond is quite scarce; the two low denominations appear regularly. All are nicely lithographed on white paper without watermark, with each denomination in a different color. Each has a 43mm embossed seal with the nationalist government’s 12-pointed sun in the center. The backs are all black text in a red frame; there is no imprint. Now—about that airplane. At last Fall’s Michigan State show I was rummaging through a box of miscellaneous paper at Paul Cunningham’s table. Eventually a QSL card surfaced (figs 2 and 3). Most such cards (used to confirm an amateur radio contact) are postal cards. This one is a real-photo card not configured as a postcard—presumably it was dispatched in an envelope. The first thing I noticed was that it originated in Hawaii in territorial days—see the Fig. 2 294 “T.H.” designation after “Wheeler Field.” The date of the radio contact is shown as 26 May 1935. The next thing I noticed was the small airplane flying over Waikiki Beach and Diamond Head (fig 4). The cowling around the engine is distinctive—it’s the same plane that is on the bonds (fig 5). The paint job is a little different, but check out the rudder—same decor there! The only visible difference is the presence of a radio mast in front of the US pilot. In those days fighter aircraft were called pursuit planes—thus the P-26 designation. This was the first production monoplane in US Army Air Corps service. It joined the force in 1933. It could muster over 200mph, but before the US was dragged into WWII, it was already obsolete. Closed-cockpit fighters with retractable landing gear and better aerodynamics replaced it. Some did see combat, but not with US flyers. The ones that China bought fought, but were no match for the Japanese Zero, and a few were still in use by the Philippine air service when the Japanese arrived there. Two Filipino pilots were credited with aerial victories against Japanese planes. What looks like gibberish on the card (fig 3) are abbreviations used by radio operators to describe the quality and radio frequency of the contact, the equipment used, and information that would assist in renewing the contact on another date; and some of it is in plain text. I was tickled to find this real-life link between the Air Corps and numismatics. Additional credit, accessed 8 June 2024: Bill Walton https://avgeekery.com/the-peashooter-this- stubby-little-fighter-was-the-first-of-its-kind/ The following are comments from Fred about the bonds Joe presented in this issue. We have a different ancillary item for the aviation bonds in Remembered. It is a receipt for the purchase of one or more bonds. The receipt, like the QSL card, features an image of a P-26. I was very excited to obtain this item from the Hank Barton collection. Hank was a World War II veteran and a well-known collector in the 1960s. He was author with Charles Altz of Foreign Coins Struck at United States Mints (1964 and 1965). Joe and I visited Hank sometime in the 1970s or possibly early 1980s. I think that it was when I was visiting Joe while he lived in the Washington, D.C. area. It was at that meeting that I first saw the receipt. I cannot remember if I obtained it from Hank at that time or somehow got it later from his estate. It was about that same time that I began lusting for the $100 aviation bond. It is red, and as Joe mentioned, very scarce. The four denominations are blue, brown, green, and red. For many years the red aviation bond was near or at the top of my personal want list. In about 2000 I had a chance to buy a large WWII collection that included many bonds, among them a red $100 aviation bond. I think that at the time it was the largest WWII bond collection ever offered. I put together a trip to drive to southern California to buy the collection. The collector and I spent half a day going through the collection. Boxes, albums, and a few piles of notes, bonds and the like—good stuff. Anticipation of seeing, holding, and buying the red bond built. I resisted asking about the red bond. After all, I did not want to seem too eager. When we were finished, and I finally worked up my offer I had to ask about the object of my desire. He said that I must have missed it. I said no, but we went through everything—no red bond. He searched the rest of the house—no luck. He confirmed that he did indeed have a red aviation bond in his collection but did not know what had happened to it. Not only did he never find it, but I also still have not obtained one. Fig. 3    Fig. 4                          Fig. 5 Red Bond above Receipt for same below 295 During the Spring of each year, the International Bank Note Society (IBNS) announces its choice for “Bank Note of the Year.” For 2023, the winner was an Eastern Caribbean $2 note, which commemorates the 40th anniversary of the founding of the Eastern Caribbean Central Bank, the world’s first modern central bank with transnational supervisory responsibilities (i.e., it predates the European Central Bank). Each Spring I look forward to learning who the winner is not just because I’m a member of the IBNS (you should be, too; spread the love!) but because it’s an award whose announcement gets picked up by the non-numismatic mainstream media, of course usually in those countries whose currency gets the nod. Even as I approve of the fanfare surrounding the choice, the premise of the contest has always remained something of a mystery to me. What exactly makes for a noteworthy note, in terms of beauty, aesthetics, compositional design, or some other criterion? The IBNS is not the only awards-giving body; the security printing industry has its own sequence of contests, indeed for multiple categories of banknotes. As it happened, that very same Eastern Caribbean note also scooped up two other industry awards for features more related to the technical characteristics of the note (its polymer substrate; its holographic security features, and so forth). The need to fight counterfeiting does impose some fundamental design constraints on contemporary currency. All things being equal, design complexity is safer than simplicity. Combined with the embedding of security strips, transparent windows, and various holographic doodads, the general effect on modern currency almost everywhere is sheer busyness. The Eastern Caribbean note, for example, has almost no blank space, filled as it is with specimens of hologram-accented aquatic life, a map of the island chain that comprises the currency’s users, and an action pose by Sir Vivian Richards, a celebrated cricket player. Another design constraint is imposed by the functions of money itself. Almost without exception, modern money is a liability of some political authority. As such, a banknote is at once a legal, political, and economic document. Its phraseology and iconography need to reflect that. Given the space limitations on a banknote, this signaling of political authority should be as terse as possible. Personally, as a traditionalist I go for standard repertoires of national symbolism: major historical public figures; imposing edifices and monuments; official seals; coats-of-arms; and even impressive military hardware. Although they are obsolete, I’m partial to the dreadnought HMS Bellerophon on the reverse of Canada’s 1913 $10 note, or the USS New York on the U.S. $2 bill of 1918. Even so, I’m still sympathetic to more expansive interpretations of national identity. I get that publics expect the symbols on modern currency to be more representative and inclusive. At some point the United States will replace Andrew Jackson with Harriet Tubman; I only hope that the rendering of Tubman won’t look as dour as some of the alternatives I’ve seen. I have about as much of a feel for cricket as I do for the sport of curling. Still, Sir “Viv” was probably a good choice for a banknote, given that the Eastern Caribbean Dollar circulates across six sovereign countries and two British Overseas Territories (Richards was born in Antigua). Putting a national political figure on a transnational note would have been inevitably awkward. In the case of the Eurozone’s banknotes, the problem of who to put on them was solved by not putting anyone at all, instead opting for the bridges-and-gateways abstractions of European identity. Like the Eastern Caribbean banknote, the European Union’s currency employs a map to depict the community of its users. At the time of this writing, elections are ongoing for seats in the European Parliament. Mainstream parties across the continent face a drubbing from more populist alternatives who nurse grievances that the European Union isn’t responsive to the needs of its member nations. I feel that the Union lost an opportunity to engage with its restive citizenries by not humanizing its banknotes’ symbolism. Were there simply no historical or even mythical figures that banknote designers could have argued personified Europe, and which would have offended nobody? Had the French not already used him on a 1992 banknote, Antoine de Saint-Exupéry’s “The Little Prince” would have been for me a whimsical but plausible choice. Standing for the importance of friendship and for the yearning to return home, Saint-Exupéry’s character represents values that speak to all Europeans, if not humanity itself. Every year the Eurovision Song Contest represents a prominent example of a continent-wide cultural ritual that expresses Europe’s aspiration to build a common identity. Like the IBNS’s banknote contest, I have no idea what makes for a winning musical entry. But I think it’s important that contests like these happen, nonetheless. Chump Change Loren Gatch A Noteworthy Note 296 $MALL NOTE$ By Jamie Yakes $5 S.F. Face 52 C.O.P. Discovered Derek Higgins has been busy the past few years finding rare stuff. This includes a Series of 1935A $1 silver certificate mule with back plate 4701, and the first Series of 1934A $5 San Francisco note with late- finished face 52, a star no less.2 This year, he’s done it again—another San Francisco 52 note, but a regular serial number and one half of a changeover pair (see photo). Higgins snatched the pair on eBay after they appeared as separate But-it-Now auctions. A changeover pair has two notes of different types with consecutive serial numbers. They can involve pairings of different face or back plate varieties, or both, such as different series and signatures, micro and macro plate numbers, or wide and narrow designs. Changeover pairs were common among early small-size production from twelve-subject intaglio plates when those plates included series dates and treasury signatures. It was customary for the BEP to mix plates from consecutive series on four-plate printing presses during sheet printing as they transitioned between types. For instance, one press could have held two 1934 and two 1934A faces. Finished sheets pulled off the press would cycle repeatedly through the four plates— 1934-1934-1934A-1934A, etc.—as they were stacked into piles. When those sheet piles proceeded to serial numbering, they received consecutive serial numbers that linked the changeovers distributed throughout the batches. In Higgins’s pair, note the transition from plate positions F to A, indicating his notes are the last and first notes from consecutive sheets. Here I’ll discuss how Higgins’s changeover pair was created and how it came to involve 52. Five-dollar San Francisco face 52 was a late-finished Series of 1934A Federal Reserve Note face3 that was begun as a 1934 master plate on November 15, 1934. Four years later, in June 1938, it was altered into a 1934A face and used as the master plate for all subsequent San Francisco 1934A faces. Face 52 then sat idle for over six years until it was finished as a production plate in November 1944. This meant the plate serials were etched into each of its twelve subjects and the plate was proofed to ensure it passed inspection. It was immediately placed into service as a production plate for four press runs from then until January 1946. Face 52 shared press time with other 1934A faces, among them 91. Face 91 was finished in January 1944 and also stayed in use until January 1946. Both faces shared two press runs: the first from April to May 1945, and another from November 1945 to January 1946. Each run involved numerous other faces. The first run began April 23, 1945, when the BEP sent to press faces 52, 65, and 80-82. On May 7 they dropped 65 and sent 83, 86, 89, and 90. The following day they sent 91 and 92. On May 16 they dropped 80, and two days later dropped 92 and sent 93 and 94. The next day they dropped 81. The run ended May 23 when they pulled all the faces off the presses. For most of that time they had enough plates with spares to run two presses of four plates. The second run began six months later, on November 23, when the BEP sent to press faces 52, 82, 83, 86, and 89-93. On December 10, they dropped 93 and sent 144 and 145. Again, they had enough plates to run 297 two presses of four plates. On December 21, they added a third press with faces 111-114. On January 7, 1946, they added a fourth with faces 94-97. They dropped all the faces on January 23. The first San Francisco serial number delivered in 1946 was L92372000A, so Higgins’s pair was numbered and delivered sometime early that year. This indicates the sheet likely came from the second press run with faces 52 and 91. Both notes in Higgins’s pair have back plate 1668. It had been finished in July 1944, and was first sent to press on September 21, 1944, where it remained for a few weeks. The 1668 sheets mated to 52 and 91 came from that time on press. It’s unusual that both notes have the same back plate. Typically, each note in the pair would have different back plates, as four were used on a press and the sheet stocks produced from them would’ve alternated among the different plates. That two successive sheets from 1668 received printings from different faces suggests for some reason the intervening back sheets were removed prior to face printing. Sources Cited 1. Huntoon. “$1 Late-Finished SC Series of 1935A Back Plate 470 Discovery.” Paper Money Whole No. 345 (2023, May/June): 200. 2. Yakes, Jamie. “Discovered!—$5 San Francisco LF Face 52 Star.” Paper Money Whole No. 343 (2023, Jan/Feb): 74 3. ———. “San Francisco Late-Finished Face 52.” Paper Money Whole No. 337 (2022, Jan/Feb): 72. References “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. Record Group 318-Bureau of Engraving and Printing: Entry P1, “Ledgers Pertaining to Plates, Rolls and Dies, 1870s- 1960s,” Containers 43, 144, and 147. National Archives and Records Administration, College Park, Maryland. 298 The Obsolete Corner The City Bank of New Haven by Robert Gill As I’m writing this article, we are in the midst of tornado season here in southern Oklahoma. Within the last week (early May) terrible storms have created devastation in the surrounding area where I live. And that, along with the political scene and all the demonstrations going on in our country, it’s very easy to become dejected and frustrated. But there is one thing in my life that brings me pleasure regardless of the times, and that’s my love of studying the wonderful world of paper. So, with that, 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 go to “The Constitution State”, and look at The City Bank of New Haven, located in New Haven, Connecticut. The notes from this institution are very plentiful and easily acquired, but they are beautiful examples of the engravers/printers art. With the news that two hundred sixty miles of the Erie Canal had been completed in New York State, prominent men in New Haven, Connecticut, realized they could have access to the interior of the country by building a canal route running North, from the tidewater at New Haven, to the Massachusetts border and beyond. This would increase commerce and the importance of New Haven. As a result, The Farmington Canal Company, a private enterprise, was chartered in 1822. It needed to raise $480,698.88 before digging could start, but it soon became clear that such funding would be difficult. Company officers optimistically issued stock at $100 per share, with the prospective stockholders paying only a portion of this down, the remainder to follow at intervals specified by the Company. But not nearly enough stock was sold, and the State of Connecticut did not want financial involvement in a private endeavor. In an effort to increase the subscription and to encourage public confidence in the canal project, the Directors of the Canal Company organized three different banks on the condition that each of them would subscribe to $200,000 of the stock of the Canal Company. The second such bank organized was The City Bank of New Haven, which was incorporated on May 28th, 1831, and opened on June 25th, 1832. Its capital was set at $500,000. The charter also required the Bank to subscribe to $100,000 in stock of The Hampshire and Hampton Canal Company, which turned out to be a complete financial loss. The Bank was also required to give gifts of $5,000 to The Connecticut Literary Institute of Suffield, and $1,000 to The Connecticut Historical Society. The City Bank of New Haven started out doing ample business for the first few years of its life. But, in 1836, following a complaint, the General Assembly appointed a committee to examine the Bank’s dealings, which was not welcomed with open arms by the Bank. According to William F. Hasse Jr., in his publication, A History of Money and Banking in Connecticut, the report published by order of the General Assembly in 1837, showed that the Bank had been loaning money at an alarming rate to people outside of New Haven. It stated that Mr. Charles Atwater, the Bank's President, commenced very early bringing up, from New York at regular intervals, large parcels of notes for discount, and these with a few or no exceptions had been discounted by the Bank. Whatever may have been the state of the money market, the business of New Haven and its vicinity was treated as of secondary importance. The Bank Commissioner's comment was, "This Bank appears to make large loans abroad, not having sufficient calls for its funds at home, so stated its officers." The result of the findings of the committee led to the Legislature's voting to repeal the Bank charter, but the Governor vetoed the bill. The Bank originally operated at 8 Exchange Place on Chapel Street, according to the first City Directory. In 1849, the Bank purchased the lot on the southeast corner of Chapel and Orange Streets, and two years later, its building was erected, into which it moved 4/4/1851. From then on, The City Bank of New Haven operated successfully for many years, but the shareholders never voted to dissolve it and become a National Bank. It remained as a State Bank into the 20th Century, and on August 28th, 1915, merged into The National New Haven Bank. So, there’s the history that I’ve been able to put together on this old bank. It’s one that, during its life, was a great benefit to its locale, which was not the norm during Obsolete times. As I always do, I invite comments to my cell phone (580) 221-0898, or my personal email address robertdalegill@gmail.com. So, until next time, I wish you HAPPY COLLECTING. 299 300 The front of the Type-41 Treasury note 72458 Y endorsed by Major Julian A. Mitchell, CS. Image: Warren D. Robinson Maj. Julian Augustus Mitchell, C. S. his is a banner year for new discoveries, and Warren Robinson has found a new Major and Commissary of Subsistence. The National Archives have only 29 documents for Julian A. Mitchell in the files for Officers (Fold3.com), but his history is interesting and the endorsement on the Treasury note is a perfect match to his signatures on original National Archives documents. Background Julian Augustus Mitchell was born on April 24th, 1836, in Charleston, South Carolina. His father, Dr. Edward Mitchell (1788-1855) was a medical doctor in Charleston. He studied law and received his degree from the College of Charleston in 1855, and also studied in Germany. Mitchell married Caroline Pinckney (1837-1901), whose father was The Reverend Charles Cotesworth Pinckney. They had one son, Julian A. Mitchell Jr (1867-1960). He was the secretary on the staff of Samuel B. Pickens’ legation to Russia during the Buchanan administration.1 1862 Julian A. Mitchell was appointed Maj. & Commissary of Subsistence on June 2nd, confirmed on September 30th, and reported to Gen’l Roswell Sabine Ripley. He later served with Gen’ls George Pierce Doles and Robert Emmett Rodes. 1863 Mitchell was captured on July 4th at Smithsburg, Maryland, during the Gettysburg Campaign and sent to Fort Deleware on July 10th. He was forwarded to Johnson’s Island near Sandusky, Ohio, on July 18th. His capture was noted on several documents at Smith(s)burg, Pennsylvania, but historical research shows that the location matches Smithsburg, Maryland, which is very close to the border with Pennsylvania and Gettysburg. The date T The Quartermaster Column No. 37 by Michael McNeil The endorsement reads: “Issued June 21st 1863 / Julian Mitchell / Maj & CS” Image: Warren D. Robinson 301 An interesting telegraph in the file for Julian A. Mitchell hints at the impact of Gen’l W. T. Sherman’s tactic of feeding his army from the countryside. “I am making effort to strip the country before the enemy. I require an energetic man identified with the locality & respectfully apply for [to] Maj. Julian Mitchell A.C.S., Early’s Command, for duty in contiguous districts of South Carolina.” At the date of this telegraph on November 23rd, 1864, Sherman had not yet reached Savannah, Georgia, but by mid-February 1865 he had shelled and burned Columbia, South Carolina. Image: Fold3.com of capture marks the retreat of Gen’l Robert E. Lee’s army from Gettysburg, and Mitchell reported to Rodes’ Division in the 2nd Corps of the Army of Northern Virginia. 1864 Mitchell was forwarded from Johnson’s Island to Fort Columbus, New York Harbor, on September 12th. He escaped from Lt. Stephens’ 20th New York Battery enroute to Elmira, New York. It is not clear what transpired next, but another record notes that Mitchell was “specially exchanged at Charleston, South Carolina, on October 3rd for Maj. F. Pruyn, 7th New York Heavy Artillery by order of the (Confederate) Secretary of War.” Mitchell was listed on a roll of prisoners of war on the U. S. Transport Canonicus at Charleston. An inspection report at New Market, Virginia, on November 30th noted that Mitchell was assigned to, but absent from, Cook’s Brigade, Rodes’ Division, 2nd Corps (Early’s Command at this date). Mitchell’s career summary sheet noted on November 25th with respect to an order to report to Augusta, Georgia, that “Maj. Mitchell has lately been released from captivity, does very well as a Brigade Comsy, and objects to the transfer.” 1865 Mitchell reported for duty on January 9th, but was relieved from duty on January 23rd. On January 24th Mitchell was ordered to report to the Governor of South Carolina at Columbia for special duty. It was well known that Gen’l W. T. Sherman was pressing north towards Columbia, and Sherman shelled the city on Febuary 16th, destroying what remained of the Treasury-note Bureau that had fled north that day on trains. As Richmond fell on April 3rd, Mitchell was appointed Chief Commissary of South Carolina and stationed at Chester. The last record on April 29th noted that a guard had been ordered to Chester. Postscript After the war Mitchell was a leading criminal lawyer in Charleston with his son (Mitchell & Whaley, and Mitchell & Smith). He died from an apparent stroke while delivering a lecture on education on January 30th, 1907.1 Carpe diem References: All military data was derived from National Archives documents on Fold3.com. 1. Researched by Charles Derby. 302 Robert Calderman Taming the Little Lion! Rising inflation, solar eclipses, new conspiracy theories daily, and an upcoming Presidential Election filled with so much drama that it will feel like the Super Bowl??? Wow, 2024 is shaping up to be a wild year! Unless you have the courage and fortitude to completely disconnect, donate all of your TV’s to the Goodwill, and go one step further and delete all the apps on your phone so you can ONLY make phone calls… just like it was in 1990 before even texting existed! Silence is golden as they say and I can hardly remember that lost sweet paradise. If you have that much gumption, you are my hero! For the rest of us that are addicted to the Hypnotic Cyclops (Television) and the magical pocket size laptop they deceivingly call a cell phone… our heads will be spinning all year! Sooo…now that we are firmly ensconced into the month of July, are there any Carnac like predictions coming from Cherry Picker’s Corner? Absolutely! Our prognostication is $10 Federal Reserve Notes will come out of the shadows and finally gain traction with small size collectors!!! What? Are we saying $10’s do not have a massive following rivaling large size type? Yes, pretty much that is exactly the current state of collecting small size Hamiltons. Why? Historically, small size fanatics like myself began our journey collecting $1’s. The endless plethora of affordable silver certificate varieties kept us happy for a long, long time… until we finally had our fill and converted over to $5’s. Naturally a desire for hunting FRN’s entered the mix soon after, and again we followed our natural habit of acquiring $1’s and $5’s. Some studious collectors even expanded into red seals and $2’s. Wow, so much fun to be had at every turn! With all that said, through the fog and across the bay were the black sheep. The folks who collected the other stuff! Twenty-dollar collectors had to be the guys with multiple corvettes and a boat right? I mean, who could afford to collect $20’s, that is soo much face value!!! Fifties and Hundreds? That doesn’t even compute… I suppose if you have a jet airplane and own a private island you could afford to collect those denominations in quantity. We are not talking about 303 collecting an example to have for type like a single $500 or $1000 note. We are speaking of dedicated collecting, going down the windy road of assembling a collection by series, block, and even district, the whole pizza pie! Then we have our $10’s… for some reason they just seemed to stay in the fog, hidden from view and beyond the scope of the average collector. There are always exceptions of course, but for the majority of the collecting community these fantastic notes have not received much love outside of acquiring a single type note like a North Africa or Hawaii Emergency Issue, or a legendary 1933 Silver Certificate. So what will make this change, a celestial event aligning the planets? Not exactly. Inflation is now making more notes pop up on our collecting radar vs. in decades past. Higher denominations become more palatable once we’ve been smacked in the face with higher prices on virtually everything we purchase. I’ve been saying a lot lately that the $100 bill feels like the new $20… meaning it costs one hundred dollars to buy the same items that in the past you could purchase for just twenty dollars. Is this a stretch? In 1994, thirty years ago, twenty dollars then is supposedly worth about forty-two dollars today in 2024. So we are not quite there yet, but it does feel like things are moving awfully fast! You actually have to go back to 1978 for $20 then to now equal $100. So what is the point? Tens now finally seem cheap! When my wife and I go out to dinner and spend nearly $80 not even for somewhere nice, we’re just at the sports bar… gosh, what’s ten bucks… nothing!!! It only seems logical that now is finally the time for Hamiltons to shine. Will this prediction come true, or are we predicting events that are still much further in the future? We shall see! Since tens are our focus for this installment, let’s look at one of my favorite varieties on this denomination! 1934C $10 Federal Reserve notes were printed on all twelve districts but only one makes the cut for a specialized variety. Kansas City is the district that reigns supreme for this series. A district that is typically a scarcer one for early era Feds, KC shines very brightly and becomes the key to compiling a complete set of 1934C tens. There are two versions of the “J” note here. The first is the more common “Wide” version and then the prohibitively challenging “Narrow” variety. The key identifiers are the face plate numbers. Narrow face plate #’s: 86, 87, 88, and 89 are the final four face plates for the district produced in December 1949. These came about as a standardization effort was in place to create uniform face plate sizes across all denomination. This change became the standard for all districts once the next series of 1934D was released. However, because Kansas City was blessed with the change occurring within the 1934C series, we have the opportunity to hunt for a very special and tough beast of a note. What is even better you ask? There are also narrow KC stars known! Count yourself very lucky if you are able to add a narrow face 1934C $10 Kansas City FRN to your collection. If you manage to land a narrow face star note, you are among very elite company within the collecting community! To underscore the point and help paint a clearer picture on the gravity of this variety, PMG has only graded two examples of a narrow face star and just eight examples of the narrow face non-star! Wow, what an absolute treasure to find an example at all, regardless of condition. Here we have images to study of both a star and non-star of this exceptional variety. Study them well and memorize these plate numbers. Why? This non-star narrow face example Fp.#89 graded PMG 65EPQ sold via Stack’s on December 1st, 2021 for $2,640! Compare this to a wide version in the same Gem grade that typically sells for just $80… remember that’s barely dinner for my wife and I. The narrow star example pictured Fp.#88 graded PMG 30EPQ also sold via Stack’s auctions in the same sale and brought a staggering $3,600!!! What is its counterpart worth? A wide star in the same grade is valued at… yup, you guessed it… just eighty bucks!!! Hopefully this wets your appetite a bit. Go out to your next local coin show and pick up some Hamiltons. 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:  The  Transition  from  Wide  to  Narrow Designs  on  U.S.  Small  Size  Notes  between 1947 and 1953 by Peter Huntoon and James Hodgson.  (Paper  Money  Sep./Oct.  2006 Whole No.245) 304 The table of contents shows the depth of Coughlan’s research Engravers and Printers of Confederate Paper Money, by Mark Coughlan, 535 pages, ISBN 9798865899242, 8.5” by 11” format, soft cover with perfect binding. Available on Amazon for $55.00. umismatic books take the form of prized references and catalogs, but rarely do they delve into the historical context to place numismatics in the realm of human triumphs and foibles. Mark Coughlan is a master of such writing in his new book, Engravers and Printers of Confederate Paper Money. This is a heavily researched book of more than 500 pages, representing years of effort. The fluid prose and depth of knowledge would suggest that Mr. Coughlan had deep roots in the American South, but he is, in fact, a resident of London whose family has deep roots in the British Isles. Coughlan’s uncle rescued many Confederate bonds and treasury notes that had resided in the vaults of a London banker since the Civil War, and eventually gave them to Coughlan, knowing his “enthusiasm for that period in history.” The struggles of the Confederacy in its effort to create a money supply are palpable in the historical context provided by Coughlan, and this is what makes the book such compelling reading. The South had very few resources for printing and engraving, and those that it did were often run by immigrants, such as the German lithographers at Hoyer & Ludwig in Richmond. With the explosive demand for paper money production in the new Confederacy, Christopher G. Memminger, the Secretary of the Treasury and the son of a German quartermaster, turned to the private sector to produce paper money. President Lincoln quickly shut down the first orders at New York firms and Memminger turned to Southern printers. To meet the demand some of these firms hired European engravers and lithographers, many of whom came from N Engravers and Printers of Confederate Paper Money A Book Review by Michael McNeil 305 The cover of Coughlan’s new book Mark A. Coughlan England and Scotland. The South had little infrastructure in the making of paper, and Memminger also turned to English paper mills like Hodgkinson’s Wookey Hole Mill. Coughlan has unearthed much previously unknown history in the role of English and Scottish engravers, lithographers, and paper mills that you won’t find anywhere else in Confederate numismatics. The tour de force of this book is that Coughlan’s considerable skills in researching this history extend also to the American South. To use Coughlan’s own words, “...the book is intended to provide a unique, interesting, and enjoyable insight into each of the companies that were involved in the manufacture of Confederates States Treasury notes and bonds.” Coughlan also provides an excellent “...overview of the engraving, printing, and paper manufacturing industry as it evolved up until the mid-nineteenth century....” This book takes numismatics to a new level, and it is one of the great contributions to Confederate history. Carpe diem 306 INTEREST PAID on Type 39, 40, and 41 Confederate Treasury Notes, with an Appendix on the Type 41 Tint Plate, by Roger Adamek, 74 pages, published by CC&A, 2024. oger Adamek has compiled a new catalog of the varieties of methods used to denote the interest paid on Confederate treasury notes. This new book, available on eBay in an 8.5” by 11” format, will be listed in eBay’s Confederate note section. It is the culmination of an intense effort spanning two decades. In this book you will find images of all known varieties of Interest-Paid stamps and manuscripts on Type 39, 40, and 41 notes. Treasury notes financed the war effort for the Confederacy. The first treasury notes were printed from high quality steel plate engravings by New York firms. President Lincoln shut down this production in early 1861 and C. G. Memminger, the Secretary of the Treasury for the Confederacy, was forced to turn to Richmond printers. On May 5th, 1862 the Treasury Note Division in Richmond began issuing large quantities of $100 notes designed and initially printed by the Richmond firm of Hoyer & Ludwig; 498,400 of these notes were issued up to January 16th, 1863, most of them printed by J. T. Paterson in Columbia, South Carolina. Hoyer & Ludwig’s design included a train vignette borrowed from northern engravers. The notes were printed as lithographs and are today known as Type 39 and Type 40 “train” notes (the Type 40 designation is the same design with minuscule differences and was reportedly conceived as a device to sell more notes to collectors). The Columbia, South Carolina firm of Keatinge & Ball produced a design from high quality engraved steel plates featuring slaves hoeing cotton. Known as Type 41 “hoer” notes, production commenced on August 26th, 1862, with a total of 670,400 notes issued by January 8th, 1863. To make these notes attractive for commerce they bore interest at 2 cents per day, or an astounding 7.3% per year. The notes were hand-dated on the front, and interest was initially paid from that date. The Treasury Department later sought to limit its liability for interest by requiring those who issued the notes for commerce to record the date of issue on the back, and interest then accrued from that later date. Interest was typically paid up to the 1st of January for any year, and nearly all of the R Interest Paid – a book review by Michael McNeil 307 “Interest Paid” stamps reflect that date. Manuscript indications of interest-paid were used when stamps were not available, and their variety is fascinating; some show places where interest was paid, some show who paid the interest, and some show the arithmetic to calculate the interest. These interest-bearing notes were issued by Treasury Department depositaries, military quartermasters, military commissaries, military paymasters, and other government agents. Interest was paid by Treasury Department depositaries, port collectors, and their deputies, who often had offices in local banks. Some depositaries resided at literal ports like Wilmington, North Carolina, but a great many also resided at what were considered “ports” of commerce like Augusta, Georgia. The depositaries kept detailed registers of the interest paid on these treasury notes (illustrated on the back cover of the book). Hand-written entries are found with serial numbers, plate position letters, the dates of issue, the number of days of interest, and the interest paid on each note. This was an immense job when we consider that 1,168,800 notes were issued. The new book contains an extensive appendix with new information on the colorful tint plate used as an anti-counterfeiting device on the Type 41 note. Adamek has delved into the history of this device and its many varieties. This research helps to explain the large variety of its observed positions and colors. Collectors, auction houses, and grading services might want to re-examine the use of the term “oxidized” to explain the darker colors we often see in this device. While “oxidation” or some environ- mental chemical reaction is surely seen in some circumstances, research suggests that it is not the cause of most of the variation we see, which was very likely a part of the production process. Adamek draws on the work of George Tremmel to suggest a more likely cause. This book explores some of the wonderful variety we see in the effort of the Confederate Treasury Department to supply a monetary base. A large part of this variety is simply due to the reality that the Confederacy had to create a centralized government and its institutions from scratch. Department heads like Treasury Secretary C. G. Memminger had to resort to outsourcing much of the work to the private sector, and this is why we see such a rich variety of designs and such a wide variation in the artistic quality and workmanship. To make matters worse, the private sector of the Confederacy was ill-equipped to provide the paper, inks, and the skills needed to design, engrave, and print millions of notes. The firm of Keatinge & Ball relied on the skills of Scottish lithographers and guaranteed their passage to and from the Confederacy by payment in gold. A great deal of the paper and inks were imported from England on blockade runners. Keatinge & Ball provided the highest-quality lithographs to the Confederacy in very large quantities, but as we can see in the varieties of the “HUNDRED” device, even this firm struggled to provide consistent quality in its ele- gant, intaglio-printed Type 41 design. The same issues hampered the creation of a system which could disburse the treasury notes ― the depositories had no precedent in the Confederacy and had to be created from scratch. It is no wonder that we see such a rich variety of methods to denote the payment of accrued interest on the $100 interest-bearing notes issued in 1862 and early 1863. The depositaries quickly The Type 41 tint plate “HUNDRED” device, an intaglio underprint in orange-red ink. 308 Roger Adamek, author A Type 41 tint plate device with color variations which are not attributable to “oxidation.” The new book explains why. A very rare Interest Paid stamp from Fayetteville, NC. adopted stamps to record interest paid on treasury notes, but the proliferation of manuscript notations of interest paid is a reflection of the infancy of the centralized Confederate government and the need to get the job done if a formal stamp was not available. The Treasury Department paid interest at 7.3% on these notes, and while this is an astonishing return, it is also easy to calculate the interest, which accrued at exactly two cents per day. The calculations of interest on the backs of some treasury notes show the practical utility of this rate of interest. Adamek’s book presents a window into the efforts of a newly-established government attempting to meet the monetary needs of its society. It was a heroic effort, but it was predicated on the preservation of slavery as the engine of its economy, and this was memorialized in the central vignette of the Type 41 treasury note. It was a society based on extreme wealth inequality, and in the end, it didn’t survive. Carpe diem 309 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 BOOK REVIEW - Coal Mine Company Obsolete Notes and Scrip (2023) by David Schenkman Reviewed by Wendell Wolka One of the most interesting and, at the same time, most unexplored and undocumented areas of obsolete paper money has been the notes and scrip issued by companies engaged in coal mining and transportation. These notes often took the form of company store issues that served as part of the pay for company employees, The scrip was often only valid for use by employees and often only valid for purchases made in these company-controlled or owned stores that sold food and other necessities. The coal companies often took the opportunity to turn these retail establishments into significant profit centers by selling such goods at prices that today would equate to convenience store price levels. Cataloging these scrip issues is not an easy task and is perhaps the reason that David Schenkman’s book is the first comprehensive attempt at doing so on a national basis. The companies’ issues were not regulated by any federal agencies, meaning that records of the types and quantities issued, signers, and even the identities and histories of the companies themselves have, for the most part, been lost to the ages. Rather, Schenkman had to painstakingly reconstruct this information from small clues provided by newspapers, local histories, and other scattered local documents, as well as from individual state catalogs written by those inclined to include such issues. Collectors are fortunate that David is a consummate researcher, best known for his work with tokens, who understands how to get at these difficult details and provide the reader with a much more satisfying and useful work on the subject rather that just a sterile checklist of notes and scrip that he has seen. The book is some one hundred and sixty pages in length, a size that surprised me a bit. I knew that there was a significant number of issuers but I did not appreciate before this book’s appearance that there were that many. In fact, 227 issuing locations appear in the book from 22 different states including obvious ones such as Kentucky, Pennsylvania, and Ohio to more surprising locales such as California and Washington. The layout of the catalog checks all of the boxes for an easy-to-use reference. The catalog is laid out alphabetically by state, then by place of issue, and then by issuer followed by the denominations for that issuer. When looking up a note, this arrangement should allow the reader to quickly locate the appropriate pages that detail the information being sought. The catalog numbering system is both simple and flexible, allowing for future discoveries without becoming so complicated that it becomes unusable. All notes are illustrated in color and are assigned one of four rarities (very few of these notes are “common” in absolute terms)- C (Common; more than twenty known); S (Scarce; between eleven and twenty known); V (Very Scarce; between five and ten known); and R (Rare; less than five known). Schenkman has opted not to include prices for each note which may be seen by some as a negative. However, as a cataloger for some fifty years, I completely understand and agree with David’s decision. The market for these notes is often quite thin and their rarity means that market appearances will, in many cases, be infrequent, sometimes decades apart. This renders pricing obsolete before the ink is dry on a catalog for items like these. The most enduring and important feature of this catalog is the history of the issuers that Schenkman has included. It reflects years of effort and research, searching for the tiniest bits of information that together can be knit into a commentary on the who’s, whys, where’s, and what’s that combine to create the history of this fascinating area of numismatics. A final tip of the hat for providing a well manufactured book that is both attractive and up to being used (and abused) by collectors and students of the subject. Providing a hard cover book with enameled paper, full color illustrations, and a decent binding that will not fail after only a few uses is much appreciated. Coal Mine Company Obsolete Notes and Scrip ISBN 979-8-218-95630-1 160 Pages, Illustrated $39.95 + Shipping Available from Wizard Coin Supply www.wizardcoinsupply.com. 311 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. 74551 Canada Bank of Canada $500 1935 BC-17 English Text PCGS Banknote About Uncirculated 53 PPQ Realized: $228,000 Palestine Palestine Currency Board 10 Pounds 7.9.1939 Pick 9c PMG About Uncirculated 55 EPQ Realized: $45,600 Jamaica Treasury 10 Shillings 1918 Pick 30 PMG Choice Very Fine 35 EPQ Realized: $33,600 Turks & Caicos Islands Government of the Turks and Caicos Islands 1 Pound 12.11.1918 Pick 3b PMG Very Fine 20 Realized: $28,800 Saudi Arabia Saudi Arabian Monetary Agency 50 Riyals 1961 / AH1379 Pick 9a PMG Choice Uncirculated 64 EPQ Realized: $19,800 China Russo-Chinese Bank, Tientsin 1 Tael 1907 Pick S549a PMG Very Fine 25 Realized: $16,800 WORLD PAPER MONEY SIGNATURE® AUCTION Dallas  |  October 17 Now Accepting Quality Consignments Consignment Deadline | August 27 Prices Realized in Our Recent World Paper Money Signature® Auction 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 DALLAS  |  NEW YORK  |  BEVERLY HILLS  |  CHICAGO  |  PALM BEACH LONDON  |  PARIS  |  GENEVA  |  BRUSSELS  |  AMSTERDAM  |  HONG KONG  |  TOKYO Always Accepting Quality Consignments in 50+ Categories Immediate Cash Advances Available 1.75 Million+ Online Bidder-Members