The New York herald., 1868-02-10
OUR NATIONAL CURRENCY.
Notes on C0unterfeits.
PAPER CURRENCY.

when q universal paper currency meditated by
United States Gnanciers under the necessity OF aording
the people medium for domestic exchange in place Of
the spocle which, like kand in an hour glass,
aiua out Of view with Inevitable certainty though,
unlike the sand. i,s course upward-thsre
many objections advanced against the project; aud
among the rest the very plausible that host OF
couneeers would spring into existence and deluge the
country with large volume Of spurious OF genuine
notss We had already abundant experience Of the
skin with which couniefeters inflated the notes Of the
old State banks and ready 10 conclude that
legal tender currency fated to suner at tho
hands and suffer- too 70 an extent not contemplated in
the days OF redeemable currency.
COUNTERFEIT SorEs
n was though, no device Of the sngravers art nor
autograph no matter how intricate In chirographcal
nourishss could escape fraudulent imitation, but not
withs,andIng ell the fearful anticipation this point
that prevailed the advent OF the legal tender scheme
and all the redoubled efforts Of the counorete animated
by the prospect OF rsapng such harvest they never
dreamed or the number Of counterfeit notes that sue.
cssded in attaining general circulation is after all
ceedinely limited. During the war, and especially In
s earliest stages largo quantity was launched the
monetary Good. but their execution was 90
nasrsutly imperfect seemingly got up in hasto,
that their fate was quickly determined. The
c0unter1oiteYH
obstacles in attempting 70 initiate the grsenbacks.
rns eRKzx sK I'M THE oEonHrncAL LATHE woR1.
The latter. however, was infinitely more diffcul,
accomplishment II not altogether mprasticabe. by The
rude means the counierfeers forced 10 adopt In
the National Bank Note compsnys printing house this
work IL performed by an exceedngly delicate and beau-
tfu machine which traces the one geometrical
with unerring accuracy and neatnsss To copy ts
mjta,ors have produced work which 10 the undiscsrn-
ing and unskifu eye looks extremely like the model
but The ,ra .oS S With the % nal naked eye
back impression The angular terminaous Of ths racsry
looking apparently Ike pinholea The straight lines
saoush 70 all appearances but when II comes 10 the
minute circles and endless figure OF eight pattern
hare visible inability OF the human hand 70 follow
the traceYy Of tue machine In the matter Of the
green ink TINT there presented tseif another difficulty
The ,Ss S s' !. r:s Of S
wsrs from time TO time, used In the latter, but the
peculiar blush grssn which Distinguishes the legal
tender remains TO this day unproducsd outside Of the
lawful patiosai notes The color in some new counter
fsu has very close resemblance 70 the genuine but
circuston invariably bstrays its spurious character
n was wise thought In the designer 10 this color In
the legal snders Tor sns case. OUT Of ten those who
OF detection and In most instances had their suspicious
awakened Of the gsnunsss Of ness By It's peculiar shade
THE CoLon
used in the notes was arrived at sftsr very many
trials OF mixed and single shadsa and only when the
chemical analysis demonstrated that othes but that
now in use cosId resist without much change asInos.
pberic nHusncss and the process Of circulation and
bafie the skin OF csuntensiter, was decided 70 be
adopted So far the country may congratulate itsef
upon comparative immunity from bogus currency. aad
indeed the present moment IL II safe TO sAy there
less counterfeit mopeJ 10 the country than shere
was at any former period
rHwARTIso couvTsRvanyRS
The government was exceedingly Dyed during the
war By the prevscncs Of counlersAs. but no oSssn.
sed method put IN force 70 crxsh Il out Of exss-
ence until the year 1895 Previos 70 that time only
t~o Of gang might be siresed tne,r plates broken up
aaA sssiyes ssst osi " so1sly 10 reflect hc Of
thsf vera VA Ml arrests caly eeourvvd whoe tAese