The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1913-07-10
DOUBTFUL MONEY.
Italy Teens With Worthless and
Counterfeit Currency.
CONFUSION IN ITS COINS.

CONFUSION IN ITS COINS.
They Almost Rank With Those of
Korea. Where the Descending Scale
Is Good, Half Good, Bad and Coun-
terfeits Good Only After Dark.
VI all the so called great powers
Italy has the most unstable and most
unsatisfactory currency. Not alone is
the exchange subject to Quotation
THAT Is true in greater or less degree
Of the currency of every country, but
there Is great mass of counterfeit
and worthless money floating about
the country for the undoing of the un-
wary. In the first place. the engrav.
ing on the paper money is Of inferior
quality. and hence it is quite easy Of
imitation: secondly. there are so many
worthless or doubtful coins in circula-
ton that the temptation to add to
their number is not easily resisted.
Like some Of the paper money that
not so long ago used to be quite CON-
mon in our own country. the Italian is
allowed to remain in circulation until
disgracefully dirty and nearly obliterat-
ed and therefore difficult Of recogni-
ton as counterfeit or genuine. To add
to the confusion. French silver Is gen.
orally accepted, while the coins Of
Switzerland. Belgium and Greece, al
though officially recognized. are. as a
rule, refused in commerce Numerous
papal and Roumanian coins are still in
circulation. although they are value
less and accepted only by unwary for
eigners, whom the Italians regard as
fair prey.
In addition. none of the large num-
Der of one Ira pieces coined before
1863 can be passed. although intrinsi-
cally of equal value with those Of later
date, since the period arbitrarily fixed
for their redemption has passed and
the government refuses to accept them
further. Under this caption fall all
coins bearing the head of Victor EN-
manuel and the word "eletto" (elected
on the face.
The Italians possess mania for mu.
ilating and perforating the five and
ten centesimo copper coins. but owing
to their small denomination this usual
~ acts as no bar to their acceptance.
"Oh, it's half good!" is often heard
from some philosophical storekeeper as
he losses a doubtful coin into the till.
Indeed, the traveller is constantly re-
minded of Korea, the classical country
Of counterfeits, with its complicated
scale of descending money values.
which are good, half good, bad. and
counterfeits that are good only after
dark
But let the foreign visitor who has
served as a clearing house for worth
less money beware Of entertaining the
fallacy that the rule is capable Of in
verse application Like the legendary
memory Of elephants is that of the
Italian cabby or retail merchant, lead
ing him to pursue through storm and
darkness the man or woman who has
passed worthless coin into his keep
ing. On one occasion ] was tracked
even to the dinner table of friends and
forced to redeem doubtful ten CEN
tesimo piece u cents) which I had in.
advertently offered as a tip
Instead Of seeking to strengthen the
basis Of the country's paper and silver
money, the government adopted the
very measure calculated still further to
debase the currency in the public mind
According to the ruling Of the postof-
fee authorities. all money orders must
be purchased with gold. silver and pa
per being refused. Owing, however. to
the premium at which gold is held by
the banks. this results in considerable
loss to those sending money in this
manner and often also to great tncon-
venience after banking hours
To accentuate the Inconsistency Of
the counry's refusal officially to recog-
nize its own currency. it need only be
mentioned that the amount Of Italian
gold in existence is negligible guam
tty and that the government ruling re-
suits in forcing those patronizing the
postof1ce to purchase French gold.
Justly angered by this Inconsistency,
on one occasion relieved my feelings
in the presence Of the official who had
refused the offer of Italian paper mon-
ey by a sarcastic reference to the non
existence of native gold coinage. The
resultant indignant search through his
money drawer failed to reveal single
Italian gold piece. although it resulted
nearly in an attack OF apOpleXy
brought on by patriotic wrath
The application of my little article Is
this: Are not these conditions in the
home land responsible for the fire.
quency with which Italians Of low
class in America are caught counter
feiting our Uncle Sans silverware?-
W. W. Whitelock in Chicago Record.
Herald.
Didn't Want the Moon.
There's no use crying for the