Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-01-31
Cleveland BUST to Adorn New
Ten-DoIIar Bills.
EMERGENCY NOTES READY
Designs for New Metal Money Made
by V. D. Bremen.
PRESIDENT GIVES APPROVAL
Half-Dollar or One-Cent Piece Nav
Be Chosen-Change in Law
Possibly Necessary.

President Roosevelt has given his con
sent to the adornment of one of the popu-
lar coins of the country with fine head
of Lincoln
He conferred yesterday with Frank A
Leach. director of the mint. about the
matter The details are now under adj
| visement.
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 i'm the Treasury.
These have been shown the President
|. The head of Lincoln. splendidly drawn,
will adorn one side of the coin. The Gus
tomary wreaths or words will be on the
other side.
1t is probable that the 5O-cent piece will
be selected as the principal coin for the
Lincoln head. Some legislation 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 in
ScriptionS.
Cleveland and Grant on Bills.
Secretary CorteIyou has had prepared
at the bureau of engraving and printing
new designs for gold certificates of the
ten and fifty dollar denominations.
On the face of. the ten-dollar certif
cate 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 equally
fine portrait of Gen. Grant similarly
treated with wreath of oak leaves.
The text on the face of each of the
notes Is so arrayed as to have the gen
eral effect of 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 large white
notes are printed in gold bronze color,
used exclusively in printing gold GER
tificates.
1t is the opinion of the Treasury cffi-
Gals that the designs for the new notes
are superior to any hitherto put out by
the government. 1t is expected that the
notes of the new series will be ready for
Issue within the next three months.
Emergency Currency Ready.
Director Ralph of the buerau of engrav-
ing and printing has completed the print
ing Of $500.0OO.O0 of the so-caIled emer-
gency national bank currency authorized
of the new notes are now being issued to
banks in the regular course of redemp-
tons.
These notes will take the place Of the
old national bank notes. which will be re-
tired as fast as they reach the Treasury.
The law directing the issue of these notes
contemplated the formation of national
banks throughout the country into cur
rency associations which were to be held
responsible for the notes issued by the in
dividual 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 Secretary of the
Treasury.
Banks Waiting for Congress.
Soon after the act of May 30, 1908, was
passed there was a general movement
among the banks of the country to form
currency associations. The question was
early raised whether an individual bank
could retire from its association at it's
pleasure, provided all the obligations of
the associated banks had been fully met
The Secretary of the Treasury decided
against this proposition. Thereupon banks
generally suspended further efforts to
form associations until Congress had Spe-
officially Authorized the retirement of banks
under the conditions named.
Up to this time Congress has taken no