The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1910-09-10
Treasury Department Would
Systematize Currency Designs

washington Sept. 10.-For more
fhan a year the treasury department
has contemplated standardization
az the designs for United states notes
and gold and silver certificates ana
seduction in the size of paper cur
Aancv No less than nineteen mlscel-
laneous portrait and historic designs
! annaar unon the issues now current
these serve no useful purpose IN
Edantifying the denomination OF notes
mith the designs they bear nor nave
fhav been selected according to any
scheme of historical balance. AS an
example of existing confusion, the
present dollar silver certificate bears
fbe portraits of both Lincoln and
Grant. The plan is to reduce these
nineteen miscellaneous designs to nine
selecting the portraits with some ref
erence to the Importance and position
a. their subjects in American history
And using the same portrait on one
denomination throughout The faces
would be placed in the center of the
note and would enable the holder to
determine at a glance the denomina-
ton. 49,
Il in most common circulation, might
bear the portrait of Washington, as
the emancipation of the country and
the founder of its government; the 81
note. that of another famous Amer
ican, and so on for all the separate
denominations.
Since Reconsideration is believed 10
be the more advisable as it viii enable
oil
money handlers the more readily to
detect counterfeits, experience having
clearly shown that it is impossible for
the most expert engraver to reproduce
an exact facsimile of portrait even
ii the face has been engraved by him
self.
The class to which the note belongs
whether gold or silver certificate OF
United States note, may readily be
determined by varying the color in
which the seal on the right side of the
note and the denomination numerical
on the left are printed. The printing
Of these will continue to be done by a
separate process, hence the distinction
suggested involves no additional ex-
pense. The name of the class will be
repeated as many times on the face
and back of the note as at present.
= The department might feel warrant
ed in proceeding to change the designs
of the notes without awaiting the sug-
gestions Of banking institutions, but
a different proposition is presented
in the plan to reduce the size of the
notes to by 2@ inches. The de-
partment recognizes that public con-
Eenience is more or less in a system
to which most of the cash drawers anC
pocketbooks of the country have beer
adapted, hence it is disposed to wei
come criticisms and suggestions from
bankers and business men before at
tempting any radical change.
Has Economic Advantages
Under authority of Secretary Mac
Veagh, a special committee Of treas
ury officials has been at work fo
months upon the details involved il
the change of designs and the sug
eested reduction in the size of pape
currency. This committee has can
vassed with equal candor the advan
tages of and the objections to tn
plan, Discussing the details Of popu
lar interest involved, Secretary Mac
Veagh makes the following state
ment:
81 am hopeful that the public wi
consider favorably, as the treasur
department is inclined to consider fav
orably the economies and other ad
vantages which would result ultimate
Iy from the use of a somewhat smalle
paper currency. The present size c
paper currency is 3.O4 inches wide b
7.2S inches long, and it has been sug
gested that our notes be reduced
2h inches wide by inches long, tn
same size as the Philippine pape
currency, which has proved an IN
qualified success-and a size whicl
when it is not brought into diret
comparison with the present note, an
when not scrutinized, would not,
most people, present a noticeab
change From the treasury point
view, the proposed reduction wou
result in an estimated saving to tt
government of $612,603 every yea
This economy would be gained fro
various sources. For example, v
would print five notes where we pril
four now, and the increased produ
ton of % per cent more notes wi
the same labor as at present, carrie
through all the various processes
wetting, examining, counting, dryir
numbering, sealing, separating, ct
would save more than 100000 a We