The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-11-01

and twenty miles
The most perfect order seems to have existed through
out
McClntock sailed for England the LIST of September
1852 bearing with him the relics of the lost navgators
which have been already described very fully 10 the
HERALD and the important intelligence Of the wreck OF
the ebns and Terror, and the melancholy fate of Sir
John Franklin and his entire party.
Such, in brief is the interesting history of Arctic
plorat0n for nearly ninety years.
Cunterfeit Money and CouAterfeiters-How
thu Thing II Done.
We have In the United States about fourteen hundred
banks, the largest number OF which found in the
Northern Atlantic and New England States. As New
York st the head OF the banking business Of country
s also the headquarters Of bank note engrnvers and
OF counterieers bogus bank note operators every
species Of fraud connected with the manufacture sni cir
cule'ion Of paper money. CAMPS Of counerfecrs have
grown rich, bold and powerful AID exercise hoe
tons with marvellous shrcwiness They practced
in schemes and in plans of rascaty and has
System Of vany been exposed than they adopt
other equally novel and ingenious method. shrewd
countereiters DO logger attempt to do their work,
or to mako clumsy steel ensrsvngs In imitation OF good
bls and use poor and dirty paper on which 70 strike
them of. Such counterfets essly detected by
mere tyros in the use Of paper money
Stare not, reader when tell you fact and that Is,
that the countere,cfs employ the beat bank note
gravers In the country, End their spendIdly engraved
bills printed the most superior quality OF papsr have
the bottom margin them the Of best bank note
engravers in this country, including the OF the
highest firms and corporations engaged in that business in
this city We do not charge these firms with knowingly
lending themselves to such frauds, but the thing con
etanty done nevertheless.
The coursrfeers proceed this wise: They put up ct
one OF best hotels, and register their names
as the Hon So and so from Indiana Iowa. oIhsr
dtsnt State They then proceed prominent bank note
engraver, or to the consolidated American Company in
Wall street, and introduce themselves merchants, So
from Indiana, and state that they have organised
bank in that Stae and wish to get certain amount OF
bills engraved, Of the denomination Of twos dves and
tens; that they do not care for expense, as they
wish TO have them done in the best manner. The
epgraver remarks, that in all cases OF such work
for strangers they require deposit OF from 81 900
to $4,000, as the case may bs, to cover the coat
OF the work. This condition Ia aocedsd to; aad II the
ergraver asks reference besides they fad tle difficulty
In obtaining bogus recommendation from Of their
comrades The next thing is for the coun,ereters to CO.
cct designs for their bills from great variety Of patterns
or Dies always kept ham, They give their bank II may
be, the Of the Farmers Mechanics and selec
dos, figures and letters corresponding nearly AZ pos
slble with bank OF the same name In Pennsylvania
New York, or In one Of the New England States.
and In small plain letters, in blank at the upper and
right hand corner Of the BILL they have inserted the words
estate Of Indiana" When the engavos complete the en-
craving and have struck them off the best bank note
paper the countereers retire with them to some private
den In the upper part Of the city, where they proceed 10
erase the words estate Of Indiana" and insert that OF
Pennsylvania or may DO that OF New York, or some
other Atlantic State and procsed to forge the names OF
cashiers and presidents them when they are ready for
circulation through their confederaes various parts OF
he country The beauty Of the engravngs, with the
names Of she respectable bank note engavers on bot
tom margin, tend TO give them widespread circulation
Hence we constantly hear that "a remarkably well exe
cued counterfeit Eve ten dollar bill has appeared on
such and ouch bank, which we'll calculated 10 deceive
the most experienced eye"
There ID another species OF bank note fraud out of
which the foregoing mode Of counterfetng has grown,
and which has led TO immense losses one hand and
great and i'll gotten fortunes the Other aud this is
operations in bogus banks Thus persons who possess
fair share Of reputation under which hidden en- musnae
amount Of rasca appear OF tho eugrAvers state that
they have started free bank, with $500 o0o At Cherry
Valley, Wisconsin, or at Sandy Creek, in indiana
or Washington city, or some other town some distant
State aud contract with the artst engrave all their blr
from 81 up TO 500 and $780, style ana on the beat
paper. When the bills obtained and paid for they
retire to an office in Wall street and sign then They
then place large amounts in the hans OF their friends In
the Interior for ciroulson giving them large psr cent
age on the amount put out They thea place confederate
IN On ONCE IN Wall street or iss vicinity, who is to be
known az the redecer Of the money at one quarter 10
onehaf per cent discount. The editor OF Bank Note
Reporter may be- next bribed to publish report 70
the effect that new BANK has been organized by respon
sibe capitalists, and thai is bz are duly redeemed A
the office Of +. Slick Melville Co, in Wall street. At
quarter 10 one half per cent discount The redcmp
non actually takes pla'e sufficiently long to gain conf
dsnce and enable them TO put cut sonc 5000 600 70
100000 Of ito bills, when reports start up that ia IN
difficulty, and that tn orgnators have sold out IN no
body knows who. The bills suddenly drop fromtatv
cents oa the dollar to nothing Their holders rush 70
NJ Co, in Wall street! and lpd another san nm. and
that the said firm has 'vamosedn They write u tbe
West or supposed locality Of the bank or send out an
agent look up, and as,onshed to learn that no
sucn bank ever existed al the SPOT Indicated
mus, by bogus banks and counterfeit money and sub.
scpuons 70 bank note reporters which all dealers arc
orced 70 take ID estimated that the people Of the Uni
tea States are swnded annually out OF sums varying
from two TO FIVE millions OF dollars That su,h frauds
should exist and flourish In country Of awssa Disgrace
our legislation. Az far this State il concerned we
again repeat that the only safety against counterfens
In the use Of wator lined ccccntrc ruled paper, like
that used by the Bank Of Epglmd. This should DO
nuscured BY the ste and kept under tho keys Of the
Comptroller and NO bank bank note engravers in this
State should he allowed 70 print bills on any oho and
should lawful for any bank note engraver to use
this paper he show 70 thu satisfaction Of The
omptroller that TO be used for ba e bank with
paid up capital d, this, abolish the use OF paper
money altogether.
Tho art OF engraving b,nk motto is much
mere simple and easy .hsn- ortsiiers ,rnny,,e
with tho discovery Of engraving htecl new art WIS
orencd up The prsctce is TO epgrave letters vic
nct.ca deq.gns beads ships ornamental acprse 4,