The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-02-07
President Roosevelt Favors
Plan and Has Consulted
With the Master of Mint
Over the Project.
NOTED SCULPTOR HAS
PREPARED FINE MODELS
1t Is Probable Design Will Be
Placed on HaIf-doIIar, But
Legislation May Be Neces-
Sary.

Washington, Feb. 6.-President
Roosevelt has given his consent to
the adornment of one of the popular
coins of the country with fine head
of Lincoln
He conferred with Frank A. Leach,
director Of the MINT about the matter.
The details are now under advise
ment.
Victor D. Bremen, the New York
sculptor, has presented to the director
of the mint some of the finest models
for Lincoln coins ever seen in the
treasury. These have been shown the
president.
The head of Lincoln, splendidly
drawn, will adorn one side of the
coin. The customary wreaths or
words will be on the other side.
1t is probable that the 50-cent piece
will be selected as the principal coin
for the Lincoln head. Some legisla-
ton may be necessary to make the
change. The one-cent piece is also
being considered.
The present half dollar bears the
head of the Goddess of Liberty on one
side, surrounded by thirteen stars.
The other side bears the eagle, with
stars and inscriptions.
Cleveland and Grant on Bills.
Secretary Cortelyou has had pre-.
pared at the bureau of engraving and
printing new designs for gold certifi-
Gates Of the ten and fifty dollar de-
nominations.
On the face of the ten-dollar certi-
ficate is an admirable bust portrait of
the late President Cleveland The
lower part is framed in a wreath of
laurel.
On the face of the fifty is an equal
ly fine portrait of Gen. Grant simil-
arly treated with a wreath of oak
leaves. The text on the face of each
of the notes is SO arrayed as to have
the general effect of a wide pedestal
upon which the busts are resting.
The numerals in the corners of the
notes are large and conspicuous. The
scroll engraved borders are narrower
than in other notes, leaving a large
white space in the centers. The backs
of the notes are printed in gold bronze
color, used exclusively in printing gold
certificates.
1t is the opinion of the treasury Of
ficials that the designs for the new
notes are superior to any hitherto put
| out by the government. 1t is expect
ed that the notes of the new series
| will be ready for issue within the next
three months.
Emergency Currency Ready.
Director Ralph of the bureau of en-
! craving and printing has completed
the printing of $500. o00, 900 of the so
called emergency national bank cur
rency authorized by the act of May
So 1908. and $4,000, 900 of the new
notes are now being issued to banks
in the regular course of redemptions.
| These notes will take the place OF
| the old national bank notes, which
| will be retired as fast as they reach
the treasury. The law directing the
issue of these notes contemplated the
formation of natural banks throughout
the country into currency into cur
: TenCy associations "nlcn were TO be
held responsible for the notes issued
by the individual banks forming the
association.
| The City of Washington Association
however, is the only one which has
fully complied with the requirement,
of the law as interpreted by the sec
rotary of the treasury.
!
Banks Waiting for Congress.
Soon after the act of May 80. 1905
was passed there was general move
ment among the banks of the countr,
to form currency associations The
question was early raised whether ar
individual bank could retire from Its
association at its pleasure, provided
all the obligations of the associated
banks had been fully met
The secretary of the treasury decid
ed against this proposition. Thereup
on banks generally suspended further
efforts to form associations until con
gress has specifically authorized the
retirement of banks under the condi
tons named.
Up to this time congress has taker
no action in the matter.