Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-01-29

and Ia the NOrEl uefOtou muCu dttOu-
ton to the production, in immense
Quantities, of fairly accurate limitations
OF the notes and bonds Of the Southern
States. 1t is certain that these Grimm
ais actually employed the services OF
nthographers in the money-printing es-
Adjustments which supplied shinplas-
tiers for the support Of the rebellion,
and i'm this way they were able TO Sc
cure impressions made on paper mat
rices from the original photographic
stones. Thus they had no difficulty In
reproducing the bond and notes by the
simplest mechanical means In fac
smile, the only difference being that
the cOunterfeits were apt TO be a little
bigger than the originals by reason OF
the stretching Of the paper matrix.
A similar fraud was attempted only
two years ago Ia the Bureau OF EngraV-
ing at Washington, n OF the workmen
slipping through his press a sheet OF tin
foil which took an absolutely perfect
impression OF the engraved plate OF a
bank note. From this, had he succeed
ed in getting away with 1t without de-
lection, a satisfactory reproduction OF
the true plate could easily have been
made. Happily no repetition OF this
performance is now practicable, because
each movement OF the presses is auto
matically recorded, and there must be
an impression 10 show for every turn OF
the machine.
The usual method adopted for Sc
cretipg the matrices Of Confederate ur-
renew obtained in the manner described
- III 49,, ~ I'D mt than tnt0
Quills, IN which form they could De
readily conveyed away and transportea.
So extensive was the counterfeiting OF
certain issues printed by Hoyer & Lud-
wig, OF Richmond, that the treasury
was obliged 10 recall them. Suisse
ouently this firm obtained a govern
ment contract for another piece OF
work, but stipulation was made that
they should not put their name on the
notes, because any paper money bearing
! it had come 10 be d~iscredited. There
was a painful irony in the circumstance
that the cOunterfeits were largely cir
culated by spectators in the North,
who employed them TO purchase from
! Southerners the cotton which was al
/ most the only capital the latter had.
| So great was the harm inflicted by the
| circulation OF these cOunterfeits that II
was seriously proposed to inlet the
penalty Of death upon any n who was
I convicted of making or passing them.
DEPRECIATION DURING H A
At the beginning Of the war the Con-
| federate paper money was current at
/ par. 1t soon began 70 depreciate, how
/ ever, and by 1868 its market value had
fallen 20 about 50 per cent. Toward tue
end Of the rebellion II was WORTH so III
/ tie that one had actually 70 be a million
! aire TO live at all. Milk cost S40a quart
and in one recorded instance a Southern
gentleman with a fair appetite paid S1O5
/ for a very modest lunch at a restaurant
such a meal as one could get for about
As cents in Washington now. AT the Iall
| of the CO~nfederacy the currency passed
for only 1 cent and a fraction on the dol
/ lar. An e|x-cOlOnel Of volunteers located
/ in Washington, told the writer an d
story OF an incident which occurred
/ when the Army Of the Potomac was In
full pursuit OF Lees forces. AS fast as
the wagon trains Of the enemy were
/ overtaken they were pillaged, and In
one of them were found the funds OF q
military paymaster. About $500 OO OF
/ the Confederate money seized was
! crammed into a gunny sack and de-
| livered 20 the officer quoted. In re-
| spouse to 4 request he gave the entire
sum to a sergeant, who Rfterward In
formed him that he had been able TO
/ dispose of II at the rate OF S. on 500 to
| COnfederates, the presumption being
that the latter expected TO be able 70
use II proftably in parts Of the South
where the currency had not yet drop
ped TO nothing in value.
1t is very interesting to consider the
fact that if the C~onfed6racy had beaten
the North in the war these notes and
bonds, which are now discredited and
yalueiess, would be worth money. or
course they would have never been re-
deemed at their face valuation, but
they would have risen greatly In the
market Immediately after the ratifica-
ton Of a treaty Of peace, whereas
| Uncle Sans paper currency would have
gone down with a slump. In 1864
/ United States notes were so far below
par that 81 in gold was equal in value
to S1.65 in the paper Of this govern
ment. Supposing-fOr any thing
may be imagined for the
sake Of argument-that the South
had been able to humble the
/ North completely, the Confederate
I States might have demanded that the
I United States should pay the entire ex-
penses OF the rebellion, which would
now be called a revolution, such being
the term for a rebellion which succeeds.
| But one OF the most serious difficulties
with which the C~onfederacy had to con-
tend was that il was a ntaion without
cash capital. 1t was Obliged at once to
I resort to subscription by private indi-
vlduals for its support, and il was COM
I pelled to create an artificial circulating
medium In the shape OF promises TO pay
which had only a hypothetical vaule.
The government could not so abroad
/ and borrow, because it had no satisfac-
tory security TO offer.
UNPRoFITABLE sPECULATIoNs.
Gen. U. S. Grant had a good deal Of
/ trouble with spectators, carrying large
wads Of counterfeit Confederate cur
rency, who followed along with his
army for the purpose Of buying
cotton. He was eventually compelled
TO adopt very drastic measures for put
ting a stop TO their business. Uncle
Sans paper money was counterfeited
to a great extent during the rebellion,
but the government was strong enough
to hold the criminals in check. Since
the war notes actually issued by the
Treasury at Richmond have been largely
used for fraudulent purposes, and to this
day they are frequently palmed off upon
ignorant immigrants bound for or new
- orrfvad in rbfs rOuntrv IF IL wara