Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-05
AvoIp Nor rAs So sILL.
rnss csustsrfsls story Probably Modern
"Fairy Tsls."


The story about the extensive issue OF
counterfeit two-dollar silver cert1ncates,
AZ perfect in all details as to be almost i'm
Nth much more than gram OF SALT
savs 4 Washington TELEGRAM TO- the New
York Recorder. Half q ton OF salt at least
vould barely deprive the rumor OF It's
Eeshness and inherent improbabiltfy.
Look at the facts: The chief safeguards
of che United States circulating notes con-
sist, FIRST, in the superiority OF the en-
grazing, especially the "miiling,"' which
cari6nly be done BY machines OF me most
costly character, the manufacture OF which
Il restricted to few well-known firms =
not more than two or three at the outside.
Next the currency of the United States
derives its security from the fact that it is
All pripted upon paper which has silk
threads interviewer into its texture by Q
patented process which Is only permitted
At certain mills. chiefly located ct Dalton,
Mass., and under the supervision OF Gov
eminent inspectors. who count every sheet
and keep Q record OF it.
n as stated in press dispatches, il was de-
termined in secret conference at the Treas
ury Department to suspend the further
issue of two-dollar silver certificates
bearing the vignette Of General Ham
cock and to issue in their place
certificates with the other vignette
of the late Secretary Window upon
their face, the reasons must be other
than those assigned-namely,t the success
full counterfeiting Of this distinctive. paper
and the successful imitation OF the en-
craving. A glance at the obvious facts
will show this. The process of making
distinctive paper Is patented. IL cannot
be done on q small scale or without the
outlay Of hundreds of thousands of dollars
Of capital and the completely Of one or two
mill hands.
THE DISTINCTIVE PAPER.
Would so many men risk long terms IN
the penitentiary and supply the necessary
material for these counterfeits This ques-
ton of distinctive paper is one which the
Treasury officials have had under careful
consideration for years. In 1879. when
| General Raum was Commissioner OF Inter
nal Revenue, he determined that for the
acknowledgements stamps cheaper form OF
distinctive paper than that containing the
silk thread would be equally effective. He
ascertained that what are called the " dan
| DIV rolls" which impress the paper-marks
on paper, were made by about two firms in
| the United States, and that an immense out
| lay of money was necessary to provide the
machinery to work these dandy rolls"
| This was all the security he thought the
| Government needed. He issued an order
| with the approval OF Secretary sherman.
that hereafter oil the paper used for in
| ternal revenue stamps should bear the
water mark, ~. s. /. r." on every square
| inch. This plan was adopted and saved
| thousands year to the Government, and
| there has never since been case OF at
| tempted counterfeiting of internal revenue
| stamps, because no one could obtain q
dandy roll " to make the water mark.
These reasons apply more forcibly to the
silk-fbre process, which is protected by
patent. That paper cannot be made in the
| United States without instant detection
except at the mills under Government SUI
| peryision. II cannot be stolen in any guam
| tity from those mills because every sheet is
counted and any waste sheets have to be
turned in and destroyed. 1t cannot be i'm
ported because custom-house employees
| would seize IL Immediately as being In
| tended for purposes of fraud on the reye-
nue. of the United States.
| Whence, then, could the alleged and
mythical counterfeiters have obtained the
enormous supply of this distinctive paper
in order to food the country with bills oil
SO small denomination as two dollars?
The story IS entirely too transparent, and
if not fake" from beginning to end, Is
unpleasantly suggestive Of suspicion thai
new heads Of the Secret-Service Division
are ambitious of establishing record al
the expense of public credulity and public
confidence in the national currency.