The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1859-11-30
WOODSFIElD MONROE COUNTY. OHIO, NOVEMBER 3d. 1850

discount. The redemption actually takes
place sufficiently long to gain confidence
and enable them to put out some $780,
600 to 100000 Of its bills, when re.
ports start up that it is in difficulty, and
that its originators have sold out to no.
body knows who. The bills suddenly
drop from Gfty cents on the dollar to moth
ing. Their holders rush to 7. S., NJ. &
Co, in Wall street, and find another sign
up, and that the said firm has "vamoos-
ed" They write to the West, Or sup
posed locality of the bank, or send out an
agent to look it up, and are astonishcd to
learn that no such bank ever existed at the
spot indicated.
Thus, by bogus banks and counterfeit
money, and subscriptions to bank-no!e re-
porters, which all dealers are forced to
take, it is estimated that the people of the
United States are swindled annually out
of sums varying from two to FIVE millions
of dollars. That such frauds should cx-
ist and flourish in country Of laws, is
disgrace to our legislation. AS far as
this State is concerned, we again repeat
that the only safety against counterfeiting
is in the use Of Water-lined or eccentric
ruled paper, like that used by the Bank
of England. This should be manufac-
tured by the bank, and kept uuder tie
keys of the Comptroller, and no bank or
bank-note engravers in this State should
be allowed TO print bills on any other; and
it should not be lawful for any bank-note
engraver to use this paper unless he can
show to the satisfaction of the comptroller
that it is to be used for bona tfde bank,
with paidup capital. Do this, or abol-
ish the use of paper money altogether.
The art of engraving a bank-note is
much more simple and easy than out
siders imagine. With the discovery of
engraving on steel Gew art was opened
up. The practice now is to eugrave let
ters, vignettes, designs, heads, ships, or
namental figures, in every variety of form,
with or without eccentric ruling, on small
fat surfaces Of soft decarbonized steel.
aud then recarbonizs them into hard steel
again. Small circular rollers, also de.
carbonized into soft iron, are then put ii
a powerful press and rolled over the fig.
ures, vignettes, letters, &c, on the stee
t surfaces, prepared as above stated
} These rollers, Of course, are thus made It
/ receive impressions in relief, CIR raised
r form, Of all the engraved lines over whicl
r they have been made to pass. Thes
, rollers are then reconveSted or recarbon
, lied into steel, and are kept filed ava
for use, anu in course of time eccumulat
r in immense numbers and in almost ininit
: variety OF designs: so that, when the en-
: gravecs are called upon TO supply bills 70
e a new bank, they submit copies Of thes
: designs Of dies or rollers, from whic
t selections are made by the persons desir
t ing plates. The ergravers then take
y decarbonized steel plate of the right size
: and subject it to the impression of tn
: steel rollers, the designs on which are Gu
g into it while it is made to move bennat
l, them under force Of the press; and thu
d the most beautiful designs are given to
a bank-note plate in brief space of time
II when all that is necessary to complete
IS is to add some letters and to finish up otf
= ers, when it is reconverted into steel an
'e is ready for use. 1t is from the desigr
l. thus kept on hand that counterfeiters an
o bogus bank operators make their selet
le tions for preparing bank bills with whic
Is to rob the public. The Legislature
Of called upon TO rectify this. Let US hay
" stop put to bank-note swindling in q
I'd its phrases.