Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1879-01-31
SPURIOUS MONEY.
The Enormous Number Of Counterfeit
Bills in Circulation..-Sixty Millions
of IL Said to be AilOat-.-Successful
COuDterfeiterS.
CORRESPONDENCE ofNew York sun.

States and national bank notes in circu-
lation, by which it appears that the ag-
gregate Of both, Of all denominations, is
about $666,0o0,000. But who can tell
how great is the amount OF this sort OF
money in circulation that is counter
feited? Day by day the list Of banks
that have been counterfeited increases,
The moderate estimate of 10 per cent.
would make the amount OF counterfeit
money in circulation over $GO,OO0,OOO.
The question for the committee that Is
to investigate John Sherman's secret
service department is why this alarming
spread Of CONTRIBUTING has not been
stopped Is the whocpowcr o egoy-
ernment unequal to the captur, of the
counterfeit plate Of the First National
bank of Tamaqua and the Merchants
National Bank Of Chicago 50 notes? The
plate from which counterfeit $50 notes
on the Third National Bank Of Buffalo,
Central National Bank Of New York,
National Broadway Bank Of New York,
Tradesmen's National Bank Of New
York, and Union National Bank Of New
York are printed, is yet in the hands Of
the counterlcitcrs and no one knows
how many millions they may print and
circulate Of this dangerous counterfeit
so dangerous indeed, that experts are
constantly deceived.
Tho same inquiry ID made with refer
ence 10 the dangerous counterfeit on the
800 notes OF ut least seven national
banks, How much ilredccmable pa
per money is hourly added a. The cur
rency by these means? Unfortunately
there are no regular resorts, but there
is n constant demand for pny for the
secret service department, which iS pre-
sumcd to be- engaged III preventing
counterfcitlng,
Tho enormous temptations offered by
the i1sue Of such large quantities Of
money printed from one set Of plates
have resulted in the production of the
most skilllil Codnterfeits ever known
Hardly an issue has, escaped, and in
many cases the bad money can be de-
tected from tho good by skilled experts
only. The record Of tho counterfeit
plates seized and destroyed by secret
service agents shows u remarkable
variety OF the fractional currency is
sues. Almost az soon as the bureau Of
engraving and printing issued u new
50.cent note the counterfeit appeared
by its side. In vain were the forbidding
physiognomies of Mr.. Spinner, Mr. 5.
Clark and others in the treasury de-
partmcnt placcd upon the notes IA u
terror to tho counterfciter5 the bad
notes soon appeared in such numbers
~ to compel the issue Of some new de-
sign.
The ineilicency Of the costly bureau
ofeugraying and printing had much to
do with this result. But in some cases,
dangerous oountcrfeits have been
traced TO the dishonesty of treasury
officials. Thus, mn engraver in the
bureau was detected engraving n lO-l0
coupon for Jerry Cowsden, the notori-
GUS countcrloitcr. Two Of the printers
IN the bureau furnished copies Of the
original compound interest treasury
note plate to the celebrated counter
feter, Hall. and also, mn impression Of
tho original plate ofthe $40 legal-tendcr
note. This, Of course, was tho most
dangerous method of producing bad
money, as, when successfully issued, it
was, in most respects Unidentified with
the good.
One 81 tho most skillful and extensive
connterfeiters was Ben Boyd, now scry-
ing II term Of imprisonment Among
his dangerous productions was coun-
terfeit of tho $40 legal-tender com
pound interest notes, one of the $40
legaltendor, one of the 800 legal-ten-
der, and the famous counterfeit on the
Traders National Bunk "a Chicago.
After tho market had boon flooded with
the Inst named. Boyd changed the
plate 10 tho First National Bank Of
Canton, tho First National Bank Of
Aurora, and the First National Bank of
Paxton, all in Illinois.
Another successful counterfcitor was
Ulrich, who engraved the 800 national
currency plate used To counterfeit tho
notes of the Ohio National Bank, and
afterwards changed ii to the First Ma
tional Bank Of Boston, and the Central
National Bank Of New York city. Some
OF the work on these notes was excel
lent, particularly the yignctto Of tho
signing of the declaration Of ndcpcnd-
enee. Ulrch also engraved n counter.
felt back Of the $500 note of the nation
Ill GuIltHtyj WHICH NltS ttpiultA llbIl
him. 1t is supposed that the face plato
was never finished
Tom Ballard WINS another dangerous
counterfciter, and his namo figures CON
spicously III the secret service records.
lie was caught III the net Of counter
te'ting the W. note OF the British Bank
OF North America.
Irvine White was another skilllul
workman, and ono of the most danger
Gus counterfcits on these national cur
reney notes is credited 10 him. lie
made the plate do for the llnmdcn Ma
tional Bank, Highland Bank Of Now
burg, First National Bank 81 North
ampton. Mass; Merchants National
Bank Of Newbcdiord, Castloton Nation
nj Bank Of New York, and Third Nh
tional Bank Of Providence, Il. |. His
arrangements for doing this were most
ingenious, although they might have
been anticipated us the natural result of
making the notes So nearly alike that
they could be successfully counterfcitod