Rock Island Argus., 1912-11-05
BEST BANKNOTES.
They Are Produced by American
Talent and Methods.

To say that Americans make the best
Oanknotes IN the world may sound at
first rather boastful. and yet any his
tory Of the art and industry of note
engraving which failed to record that
fact would be incomplete. Paul Re
artist, and from the time of the char
tering Of the Bank of North America
under the direction Of Robert Morris.
In 1871, up to the present American
engravers have excelled not only II the
artistic quality Of their designs, bur in
their provisions against counterfeitin Z.
Marco Polo found banknotes In Chi
ma ages ago. printed on paper made
from the bark OF the mulberry tree.
One Of the notes upon which the great
Venetian traveller himself may have
gazed Is on exhibition at this day In
the Office of an American company. 1t
is one Of a series issued by the Ming
dynasty about 1899 A. D.-"current
anywhere under heaven"-and seems
to have been printed from wooden
blocks on a sheet OF paper nine by
thirteen inches, a bigger surface than
any man could cover with both hands
outstretched. 1t is good for lone
string of cash" The provision against
forgery is simple to the point of sever
ity: "Counterfeiters hereof Will be ex-
ecuted Persons giving information of
counterfeiters will be rewarded with
taels $50 and in addition will receive
the property belonging to the crimi-
nal"
Another great government has placed
much dependence upon death as a de-
terrent to imitators Of its promises to
pay. When Jacob Perkins OF New
buryport, Mass, invented the method
| Of transferring designs from hardened
steel plates to steel cylinders and re-
transferring to fiat plates, thus en-
| abling the engraver to devote the time
necessary to accomplish his best work
: in the original and reproduce it at will,
the new process aroused international
interest Mr.. Perkins and his asso-
ciates went to London in 1919 at the
instance OF the British minister at
Washington to help the Bank of Eng
| land to issue notes not easily counter
! feited. But the conservative old bank
refused to adopt the new method, pre-
ferring, as one of the Americans said,
| to rely upon the hangman rather than
the engraver. Nevertheless the Eng
| lish began in time to follow American
methods after the geometric lathe had
| been invented by Asa Spencer of New
London, Conn, and improved by Cyrus
| Durand.
The governments of continental Eu-
rope depend exclusively upon color
work to protect their paper currency,
| and several OF the large banks Of issue
have civil engineers in charge of their
bureau of engraving and printing,
| though what connection there may be
between engineering and engraving is
a mystery. Many italian banknotes
are easy TO counterfeit The Bank OF
Spain has of late abandoned its own
plant because it's notes were initiated
so successfully that counterfeits were
accepted by the bank without ques
ton. A private concern now does the
work. The Bank of Greece now uses
experiences with notes OF Austrian.
German and English fashioning.
A myth that probably will never die
tells US that the notes OF the Bank OF
England cannot be counterfeited As
a matter Of fact, they can he initiated
readily enough, for little attempt IS
made 70 protect the notes beyond the
. |
termark can be easily copied
One practical safeguard OF great eff
fectiveness IS the custom OF the Bank
Of England to cancel every note that Is
returned to the bank and issue anoth-
er in It's place. This and the practice
Of keeping a record Of the numbers OF
all bank notes used in every business
establishment keep alive a keen sense
Of responsibility which adds to secu-
rity. The custom Of circulating sOiled
banknotes. Of course. gives the coun-
terfeiter his best opportunity. Forgery
is much more readily detected in n
crisp, stiff, new bill than in rumpled
and dirty one
The American style Of banknote has
become the standard IN the countries
OF Central and South America. The
experience Of the Brazilian government
led the way in this after various dis
appointments. First the much va1nt-
ed Austrian system was tried, the
notes being engraved and printed in
England under that system. They
proved a complete failure. Counter
feiters Hourished. The Brazillans tried
banknotes made in France. and these
were promptly and extensively imitat-
ed as soon as the eounterfeiters could
get their plates and paper ready. Bra
III tried German and English establish
ments, but still without securing pro
lection 70 the banknote circulation
and at last turned 70 the United States
| and found q tvpe Of hills nracticnlly