Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1907-09-27
RARE KINDS OF MONEY.
INTERESTING FACTS IN REGARD TO
VARIOUS ISSUES OF PAPER CUR
RENCY.

| INTERESTING FACTS IN REGARD TO
VARIOUS ISSUES OF PAPER CUR
RENCY.
Some half a dozen men in this cOun-
try make speciality of collecting the
different varieties of United States pa
per money. Chief among them are Fl.
&. browne and 6. FL. Blake. of New
York. who jointly produced the paper
on the history of paper money in the
United States recently read by MIR.
| browne at meeting of the American
Numismatic and Archaeological Soci-
ETY.. Mr.. Blake exhibited at the same
time the bills referred to in the paper.
Am0ng the United States issues of
! paper money first came the demand
notes, which gave rise to the name of
greenbacks, Congress, on July II, 1861,
| authorized an issue of paper money of
the denominations of IS, $40 and $50
of which $50 030 600 went at once Into
circulation.
These notes we're made payable in
New Y ork, Philadelphia, Boston, Gin.
cinnati and ST. Louis, the idea being
to distribute the redemption as much
| as possible and not to EN- barrass any
one particular place. The subsequent
issues were all made payable in New
York aloae.
Demand notes were issued for per-
i0d of less than eight months, for by
act of Congress of February 25. 1862. a
new issue, the first of the legal tender
notes, was authorized in denomina.
tions Of S., SO, 500. $50. 800, $500 and
81 900 Fifty million dollars of tn
new notes We're used to take up the
demand notes, and they soon disap
peared from circulation.
The records now show that only q
little more than $50 900 OF these notes
remain TO be redeemed, and it is be-
lieved that not more than 81 900 worth
are still in existence The other notes, |
it is supposed, are either DESTROYED or
lost
The designs of the greenbacks were |
elaborate. The S. bill shows the por.
trait of Alexander Hamilton at the |
right, while on the left is a female fig
ure representing America, after Craw-
ford g statue now on the dome of the
Capitol. The reverse side shows the
''5" within a circle at either end. with
large letters spelling "6ve' in the cen.
tire. The rest of the surface of the bi l :
is covered with little "5's."
The SO bill has Lincoln s portrait to
the left, with female representation
of art to the right The reverse shows
a long brand running through the en-
tire of the bill on which is UNITED
States of America. Back of this, in
size almost two thirds of the width of
the bill, is a large *" at either side
being the numerals TO- in figures of
equal size. All the rest of the bill is
green aud covered with minute KS"
while at either end is semi circle
made up of the word Ten" which
runs from one coruer to the other.
The $40 bill shows IN the centre of
the diverse the figure of Liberty, with
sword and shield, the Capitol being in
the background. AT either side of the
figure of Liberty are large numerals,
''2' and 20, in green. The back is all
green. and ou the centre, within circle.
is ~ nited States of America" with a
large ''20n within.
The demand notes were printed by |
the American Bank Note Company,
and each bill was signed in pen and ink |
by two persons.
All the denominations of these notes |
are now extremely scarce. particularly |
the $40 and $50 notes They are held |
at premium by paper money collect |
Ors, especially when in fine condition.
There We're at least fifi cen varieties,
counting the bills made payable in the |
different cities, and some of these bills |
rank in rarity with the rarest of the |
postage stamps Minneapolis Tribune. |