The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1873-04-17
FORGERY.
The Great Forgery on the Bank of
England-Is there any Protec-
tionp-What q London Paper
thinks about It.

This last forgery on the Bank O
England Is by far the most ingenious
as we'll rs the most successful that ha.
in this country been attempted There
was brain put into the work, as well
IA, what was far more odd. considera-
bic capital. The forger. whoever he
was. or rather his employer, for there
must have been many pers,ns engag
ed, seems to have put to himself u
question of this kind: Who in the
world, If possessed of the forger's me-
chanicaI skill, or the means Of secur-
ing it, could forge most easily: Clearly
y city msgnate. 3 man accustomed to
transact large business, to draw many
checks, to discount many bills
Therefore. IL is needful for the forger,
If he meditates large operation, to
place himself in the position Of such a
Iagnate, to open u sound" account
with the Bank of England, most sus-
picious OF all banks at first, but most
trustful when all is right, to do much
real business, aud to discount many
real bills. These things were doue
until the bank became unsuspicious,
and then the question arose, what is it
most profitable to forge? We should
answer that question very different
from the forger, for it has always ap-
peared to us that the governments of
the world are reprehensibiy silly in
the facilities that they offer to this
art, that their bonds are very clumsy
affairs, and that forger with genius
aud iD the supposed position Of this
one might, just after some dividend
day that is practically in January or
July-raise enormous loans on depos
IL of fictitious government securities.
Ii they once passed muster, what test
would or could be applied for fve
months" This forger, however. did
not think SO. but, perhaps, from some
lurking pride in his proficiency in his
own art, tried the much more difficult
plan of forging the acceptance of great
city houses. which he deposited with
the western branch OF the Bank oi
England. If they were accepted for
count, we'll and good, he would have
three months in which to disappear:
and II they were rejected, well and
GOOD too, for he had only to close his
onp fa hn yue hoi,
ing to explain their reasons for reject
ing securities Consequently. he forg-
ed the acceptances of the greatest firms
in London or the world, and, but for
the accident that he left out date in
a particular bill, might have abscond-
ed with half q million. The bank sent
the date to be rectified, aud the impo-
sition WAS detected. so good, howev-
er, were the forgeries. that the firms
themselves could only detect them b,
reference to their books, and before
detection ensued the forger had OBJ
tained eS0, 900, which he invested in
United States bonds. probably as the
most portable method Of disposing of
his plunder, and the investmen. which
would excite least suspicion In the
bank.
In this particular case the method Of
discovery points directly to the me hod
OF prevention. London bankers Eave
been remiss in their methods Of self
defence. If, on receipt of bill. they
advised tue acceptors that such doc
uInent had bean presented for dis
count. they need not be- two days with
out information rs to its genuineness
We can see no reason whatever against
that precaution, as it would be uDnec-
essary to give the name of the Arm or
person discounting, tue acceptor mere
ly receiving sufficient indication to
enable him to refer to his books, as in
this case by accident he did receive
The new rule wou . add something,
but not too much. to Office work aud IL
woul ], ss far AS we can see, he . Anal
ohsck on repetition Of this particu.