The Bossier banner., 1907-12-12
Rare Issues That Even Trained
Experts Seldom See.
OLD RED GOLD CERTIFICATES.
They Were the First Ones Issued and
Seldom Got Into Cireulation-Na-
tional Bank Notes Of 1865 That Pug
zled Financial Institutions.

denomination, and do not bar in this
statement many employees in banks.
"They handle money in mechanical
way, and I'll venture that many of
them would be stumped If you were
to ask them to give you detailed de-
scription of dollar bill. They would
instantly recognize it when it came to
hand, but each man trusts more to a
general impression of what constitutes
the outlines Of certain note than he
realizes. There was very clear illus
tration of the truth of my statement
the other day in Indiana.
''In the vaults of a bank at Roches-
ter, Ind, there had lain for a number
Of years package Of five dollar ma
tional bank notes just as it had come
from the treasury department. These
bills all bore the name of the bank
and were of the first issue of national
bank notes. 1t will be remembered
that the issue of 1865 showed fine
engraving of a historical character on
the reverse of each denomination, the
five dollar bills bearing on the back
representation Of the landing of Co
lumbus, on the diverse being an Eng
lishman presenting an Indian maiden
to three women, emblematic Of Eu-
rope, Asia and Africa.
"a good many of these new bills
were paid out, and not long afterward
kilograms, letters and even personal
calls began to pour into the bank
warning the officials to be on their
guard-that most clever and absolute
notes was out, and the only way the
fact had been discovered was owing to
the difference between this and the
present designs of national bank notes.
The incident went to show how little
the average business man is acquaint-
ed with paper money. for if there was
one note that counterfeiter could not
duplicate with success it was the
fresh. fiat national bank note of the
series mentioned.
''rhe cashier of the bank, however.
curious to see for himself whether
bank employees really were suspicious
of the notes. took trip to Chicago
and made several attempts to pass the
unfamiliar bills across the counters of
some of the banks. but without sue
cess. the notes being refused in every
case
"The same thing happened in st.
Louis when some one brought into a
downtown bank hundred dollar note
with a red back. Now. the bank en-
ployees knew of the old fractional
currency notes of small denominations
with red backs. such as the five. ten.
twenty-five and fifty cent pieces of pa
per. but this bill of large denomina-
tion with the glaring red reverse puz-
zled them.
.'Yet 1t was perfectly good issue.
being Il specimen of the first gold GER
tificates. which made their appearance
some time in 1865 or 1866 The law
authorizing their issue. as a matter OF
fact. was passed March 3, 1863. at the
same time the law was passed author
izing the fractional notes which ap-
peared with red backs The red back.
ed gold certificates were Of the demon.
nations Of $50. 800. $500. $1,000. $5..
600 and $4,000 and had been used
mostly for clearing house purposes
and consequently seldom got into cir
cuiatiOn
81 lost no time in acquiring the bill
ri -
est rarities in my collection and do not
believe it could be duplicated
II have one note that would puzzle
the average business man or banker
either. for that matter 1t is speci
men of the three year interest bear
ing notes Of July II, 1861. While this
one is for only $50. still other denomi
nations were 500. $500. $1,000 ani
$4,000 They were engraved only OF
one side, the other being mostly II
| white. allowing a space for indorse
| ment.
| "All these notes were made payable
to order and bore interest at the ratt
of 7.3 per cent. They were known II
former days as seven-thirty notes
bearing FIVE coupons for each si1
months interest. the last six months
interest being payable upon the pres
entation and redemption Of the note.
These notes were but trifie large
than the ordinary bank note and wer
convertible into twenty year G pc
cent bonds. The fifty dollar note show
ed the American eagle on a rock q
the principal device, the 500 bore tn
portrait Of General Winfield Scott, th
$500 that of Washington, the $1,OO
Salmon P. Chase, while the 5000 REP
resented an Indian girl. with bow
leaning on a shield, an eagle near b.
and Justice at the left hand
I'm 1864 congress authorized ne,
issue OF 7.3 per cent notes, but non
was issued. In their stead came con
pound interest notes mt 6 per cent. con
pounded semiannually. this really bt
ing less than the authorized interes
Many Of these bills were used a
| general currency. and yet not one ban
employee out Of hundred woul
know anything about them On til
back OF the bin was a table showin
the value Of the bill every six month
| the principal and interest being pay,