Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-09-27

NNHAN AAO AANMs l. llO
third negro went to a savings
bank and deposited his bill upon
private account. 1t was accepted,
and he was given a certificate of
deposit. Meanwhile, a aecret SER
vice agent had heard of these in
quiries at the custom-house and
sub-treasury, and he became con-
vinced that the bills were counter
felt. He arrested the three negroes.
An expert then subjected them to
a rigid scrutiny, comparing them to
a genuine, and the three captured
bills were reported counterfeit The
strumpet did not know the name of
her lover, and could only describe
him. The detectives have been
hunting for him ever since. That
he never appeared to make any
complaint against the woman for
robbing him shows that he must
have a guilty knowledge of the
money stolen from him. Some time
after this one of these bills was de-
tected at bank in Springfield, Ill.
The man who offered it was able to
show that he had received it at a
bank in Lexington, KY. The bank
there could not tell where it got it
and SO had to suffer the loss. This
makes four of these bills. One has
also been received from Chicago an 4
two from the sub-treasury at New
York. The treasury has now in its
possession the only seven bills that
have been discovered. What battles
detection is the way they are put in
circulation. In nearly all cases
where they have been traced down
it is found that they have been
passed by unknown cattle dealers
who have passed on to other places.
The nature of their business natur-
ally forbade suspicion against them
on account Of the large denomina-
ton of the bills.
The policy of the operator is to
put one out at a time. His posi-
ton and standing in society must
be good as he has always been able
to secure their entrance into re-
spectacle channels Of circulation
out Of the way Of suspicion. 1t is
also shown that the man is very
close observer of the movements of
the treasury. Recently a warning
circular was sent ont describing the
weak points Of the bill. One thing
about the counterfeit, it was stated,
was that the flourish at the end of
Cuttenpen's signature was larger
than in the original, and that it
had the appearance Of a serpent's
head. Shortly after this circular,
the Chicago bill was captured. 1t
was then discovered that the -four
ish had been picked out, so as to
conform to the original. 1t is said
by even the treasury authorities
that this man has fortune in his
hands. He is new man to the
service. His work is infinitely better
than that of Tom Ballard, now in
the Albany penitentiary, who pro-
duced a $500 note that was received
at the New York sub-treasury.
Evidently he works without any as
sociates, and is at present battling
every effort to obtain any clue to
him from his respectable associates.
There was never such a successful
lot OF counterfeiting as is now being
perfected. There are at present
three counterfeits, two of which
defy any detection outside of an
assay Office, and the third dehes
anything in the way of ordinary
test. The first of these is the
nickel. There are firms Of opera.
tors who are manufacturing this
little coin in great quantities. They
make it exactly after the govern
ment pattern, material and all.
There is not a whit of difference
between the counterfeit and the
genuine. AS nickels cost the gov
ernment only a cent and half each
to manufacture them it is easy to
see where the profits come in. The
second successful counterfeit is a
gold coin with only a small fraction
more of alloy in it than in the gov
ernment coin. 1t was but a few
days ago that Riggs & Co. sent in
some gold coin to the treasury here,
when remarkable expert detected
in the pile one coin that did not
suit him. He could not tell why.
1t was gold, certainly, but it did
not satisfy him. 1t was an eagle.
He sent it over to the Philadelphia
assay office, where it was discovered
that it was worth only $3.50. 1t
was of correct weight, however,
being made up with baser metal.
This counterfeit is the most dan
gerous of all, and none of its ope-
rators have ever been discovered.
The third counterfeit is base
metal coin heavily plated with gold.
This com is Of right weight, rings
out clear and sharp, and will stand
the acid test. The only way to dis
cover it is to dig down through the
plating. Of course, for general
circulation, this coin, for a long
Lil,,n 3. =. - - IL. mn