The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1912-10-29
Some Opposition Expected
To The Arranged Program
Said The New Bills Can Be
More Easily Counted
lad Can Re Distinguished All
The More Readily

That the people OF the United States
must sccustom themselves to new
siEed paper money ia the edict Of Sec
rstAry of the Treasury MacVeagh.
Tue familiar paper currency, which
has been In use for the past fifty
ysars. will be rplaced by smaller and
Aaassr bills. The secretary has let 1t
- known that he wants smaller
sissd currency and the only question
which he IL now debating IL the de-
slxa for a new legal tender notes.
Oar present paper currency is about
. Ay TX inches In dimension. The
pTvposed change Is to reduce the size
70 about 2h by 8 1.S. To do this 1t
was generally supposed that legisla-
ta0a by congress was necessary. But
NJ law can be found which regulates
ths sixe of our paper currency and the
treasury department officials are now
hssily engaged In preparing several
designs for the smaller notes from
SAich Secretary Macveagh Is to make
q selection.
Ar. MacVeagh thinks that the paper
currency ought to be more artistic and
rbe efforts To improve In this direction
Srsbably will be confined to the backs
u tho new notes.
1here. too. has been n suggestion to
omit numerals. showing the deromina.
tisa from the backs OF the notes. II
u argued that this would bring about
aalf0rmity In methods Of counting,
would lessen the danger of counter.
ss&tiaE and would make a handsomer
lse 0t bills.
3Hfeover, II will cost the govern.
Sssat much less to get out the smaller
sissA paper. Treasury officials esti.
mnts that saving Of 81, 100000 a year
.0n ~ had by adopting the smaller
.caasJpacy.
Tho greatest changes that necessar-
~ viii have to be made by the In.
PRODUCTION Of smaller notes is In the
oureau Of engraving and printing,
ahsre Il would be necessary to make
Il lsaSt 1000 new plates and change
sAs Seeding of the hand presses for
shsar printing
II will take at least year before
shs 1000 new plates can be made Few
extra men will be necessary to make
tho proposed change as the work can
- done gradually,
Our present sized paper currency
oas boon In use since the civil war.
Among tho first issues of paper cur.
uHncy In the United States were the
-aaanxnd notes. which gave rise to the
AAmo Of greenbacks. Congress, on
July n. 1861, authorized the issue OF
saesr money Of the denominations of
q. $40 and $50. OF which $50, ,O30 900
Wuut nj once into circulation. These
Aooand notes were issued for a period
- loss than eight months for by act
- nougress February 25, 1862, a new
tgsse the first OF the legal tender notes
uas authorized In denominations OF s5,
sie. esO, $50, 800, $500 and $1,000.
<Dar first greenbacks were OF an
s,anbsrate design. The IS bill bore the
uorerait Of Alexander Hamilton at the
stxAl. while on the left was a female
1gSrs representing America. after
xrNwfDrds statue now on the dome Of
- eAtionsi capitol. The reverse side
-sDaaained 80" within . circle at eth.
- sad. with large letters spelling
AVE- In the center. Tho rest OF the
susAoe Of the bill was covered with Iii.
- ~s's."
III nrst SO greenback contained the
1evtrait OF President Lincoln, with a
esmsie representation of art TO the
xsgtt. The reverse side showed long
brand running through the center OF
che bill on which was printed United
0eAtes Of America" Back to this, in
Saxa. almost two-thirds OF the width OF
Shs bill. was large "X," at either side
bolng tho numerals no. In figures Of
~Nnal size. All the rest Of the bill was
- green aud covered with minute
MA while at either end was semi
a1Foas made up Of the word "Ten."