The Montgomery advertiser., 1907-07-01
NEW CURRENCY
GOVERNMENT ID PUT MORE BILLs
 IN CIRCULATION.
To xnsRs Eartr Nfilsfon h One ma Two~ D1lInx NetrA-~xC, 100000 Ia ek0 GeId Cexfffft8fes to be Dis
 fr1hntea July 1.

A special 10 The Brooklyn Eagle from Washington sayst
 Money will soon be more plentiful. Secretary cortelyou Is preparing to swell che Volume of currency by an addition Of s40,000.oo0 of sI and s2 notas TO accpmpIssh this two brand new notes nave beea. designed and VIII be Iasued te the public July 1.
 Al last the Treasury Department has the power to kill off that bugaboo which appears regularly every fail--a famine ok small notes. For many years past the holiday business in the large cffIes has been Smore or less en- barrassed by scarcity of small notes. All this trouble will Dc avoided in the future bv q provision of the Aldrich financial law, which goes into effect on July 1. Tn brief. it permits tho Treas urer to call in silver certificates of higher aenoninations. for which there is practically no demand. and issue in their stead $1 and $2 notes. No limit is placed on the volume of notes which may be thus cut up into smaller plsces. Secretary CorteIyou and Treasurer Treat have decided to manufacture in this way about sfo,oeo.o ef the small Ter bills
 The appearance of new note Is made necessary in order to accomplish this bit of financial jnggiery. It is q S10 gold certificate. s5.000.00o of which have been printed and sent out to sub- frsasuries for distribution to the pub lie on the morning of July l. It Is the intention Of the Treasury officials to issue ti1cae gold cerfificates In return for ailver certificates of as large de- nominations as can be secured. Spe- cla1 efforts will be made to get silver cartificates of SIC. s2e. $50 and S10e. They come in denominations as large as sa,o0o. but only sixty of these are out. AS these large silver certificates are received in exchange for the new SIG gold notes. they win be forwarded to Warrington and destroyed. This win rslease a corresponding number of silver dollars in the Treasury. As Is known. for each silver certificate is- sued by the government there is piaced in the vaults of the Treasury q silver dollar for it's redemption.
 With the destruction of these large notes orders will be sent to the Bu- reAn of Engraving and Printing for the issuance of s1 and $2 notes fin q like amsbunt Tn this manner Secretary Cortelyou hopes to be able to add about 10000. .Doo of small currency to the volume now outstanding. At the pres- ens time there are in tirculation s10s.- 00oseo0 in a notes and s4s.000,000 tn $2 notes. This is insufflctent to meet the demands of the public.
 The second new note to be intro |sduced into the currency system ss a sB United States note or greenbaek. Under ths present law no greanbacka may be issued smaller than s10. The new note will be issued against the gold reserve. The designers of the Bureau of Engraving and Printing are now at work on this new note.
 Tho $10 gold certificate is considerd by the authorities to be the handsom- est paper currency ever designed for our government It is simple fn ap- pearance. containing less scroll work and other decorations than any of the other notes. It bears a portrait Of Michael Hillegas. the first Treasurer of the United states. On the reverse side, which is pFtnted in yellow, is a cfrcu- lar emblem taken from the gold coin from which fine lines fadiate throush- out the note, giving the appearance of q setting sun.