The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1859-11-30
From the New York Herald Nov. l.
Counterfeit Money and Counterfeiters-
How the Thing is Done.

now the InlnS IS OCNe.
We have in the United States about
fourteen hundred banks, the largest num-
Der of which are found in the Northern
Atlantic and New England States As
New York is ct the head Of the banking
business of the country, it is also the
head quarters Of bank-notes engravers
and of counterfoiters, bogus bank note
operators, and of every species Of fraud
connected with the manufacture and cir
culation Of paper money. Gangs OF
counterfeiters have grown rich, bold and
powerful, and exercise their avocations
with marvellous shrewdness. They are
practiced in schemes and in plans of ras-
cality, and no sooner has one system of
villainy been exposed than they adopt
some other equally novel and ingenious
method. Shrewd counterftiters no longer
attempt to do their own work, or to make
clumsy steel engrayngs in imitation of
good bills, and use poor and dirty paper
on which to strike them of. Such coua-
terfeits are too easily detected by mere
tyros in the use Of paper money.
S.artle not reader when we tell you
fact, and that is. that the connterfeiters
now employ the best bank note engravers
! in the country, and their spiendidiy en-
graved bills printed on the most superior
quality Of paper, have on the bottom
margin Of them the names Of the best
bank-note en9ravers in this country, n-
cluding the names Of the highest firms or
corporations engaged in that business in
this city. We do not charge these firms
: with knowingly lending themselves to
such frauds, but the thing is constantly
done, nevertheless.
Tie counterfeiters proceed in this wise:
They put up at one of our best hotels, and
register their names as the Hon So and
So, from Indiana, Iowa, or some other
S distant State. They then proceed to a
prominent bank.n note engraver, or to the
G consolidated American Company in Wall
r street, and introduce themselves as mer-
i chants, &C.. from Indiana, and state that
they have organized free bank in that
y State, ard wish to get a certain amount
= Of bills engraved, of the denomination oi
II twos, Gves and teps; but they do not care
IS for expense, as they wish to have them
n done in the best manner. The eugravcl
| remarks that in all cases of such work 70,
Is strangers they require a deposit of from
81, 900 to $4,000. as the case may be, tt
cover the cost of the work. This con
dition is acceeded TO; and if the engrave
;, asks reference beside. they find little diff
oh n
ton from some of their comrades Th
Vi next thing is for the counterfeiters to Sc
\ lect designs for their bills from grea
C. variety of patterns or dies, always KEEP
I'll on hand. They give their bank, it ma
+ be, the name of the Farmers and Me
chanics', and select dies and letters cor
n, responding as nearly as possible with
1t. bank of the same name in Pennsylvania
lg New Y ork or in one of the New Eaglan
1g States, and in small plain letters, in
l blank at the upper and right hand corne
be of the bill, they have inserted the word
", "State of Indiana" When the engra1
ers complete the engraving. and hay
n struck them off on the best bank-note p1
.alper, the counterfeiters retire with them t
e. sope private den in the upper part OF tt
citywhere they proceed to erase the wore
STATE of Indiana" and insert that
= Pennsylvania, or it may he that of Ne
' York, or some other Atlantic State, an
proceed to forge the names of cashier
re- and presidents to them, when they a.
ready for circulation through their col
federates in various parts of the countr
De- The beauty Of the eEgrarings, with II
IDS names OF the respectable bank-note e.
ne; grayers on the bottom margin, tend
hit give them q spread circulatio
- Hence we constantly hear that GA T
len markably well executed counterfeit Fl
I'd: or ten dollar bill has appeared on such al
for such bank, which is well calculated
ms deceive the most experienced eye."
There is another species Of bank-no
fraud, out of which the foregoing mo-
sie, of counterfeiting has grown, and whi
~ has led to immense losses on the o
hand, and great and ILL gotten fortunes
.ne the other, and this is operations in bog
leu banks. Thus, persons who possess q f;
us share OF reputation, under which is hidd
c'- an imrIense amount of rascality, appe
'se, at the engraver's and state that they ha
htii started free bank, with $200,000,
we Cherry Valley, Wisconsin, or at San
que Greek, in Indiana, or Washington Cit
'Vl- or some other town in some distant Sta
ohs and contract with the artist to engra
me all their bills, from 50 up to $l00 q
ana $500, in neat style and on the best +
e0 per. When the bills are obtained q
eirg paid for, they retire to an Office in w
street and sign them. They then pla
she large amounts in the hands of their frieu
her in the interior. for circulation, giving th
low a large percentage on the amount put o
was They then place q confederate in an off
Po- IN Wall street or its vicinity, who is to
known as the redeemer of the money
lich one quarter to one half per cent discou
den The editor of bank-note reporter,
to may be, is next bribed to publish rep
yer- tha afpot that now hank has hppn