Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1913-06-03
DOUBTFUL MONEY.
Italy Teens With Worthless and
Counterfeit Currency.

OF all the so called great powers
Italy has the most unstable and most
unsatisfactory currency. Not alone is
the exchange subject to fluctation
that is true in greater or less degree
OF the currency Of every country, but
there Is a great mass of counterfeit
and worthless money floating about
the country for the undoing of the I'M
wary. In the first place, the engTav-
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 COM
mon in our own country, the Italian is
| allowed to remain in circulation until
/ disgracefully dirty and nearly oblitelat-
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 a mania for mu-
tilating 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.
II But let the foreign visitor who has
served as 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 q worthless coin into his keep
] ing. On one occasion was tracked
even 10 the dinner table of friends and
! forced TO redeem a doubtful ten cen
tesimo piece 20 cents which / had in
advertently offered as n tip
Instead OF seeking to strengthen the
basis of the country's paper and silver
! money. the government adopted tbs
very measure calculated still further Il
J debase the currency in the public mind
& According 10 the ruling OF the postoF
fee authorities. all money orders mus
be purchased with gold. silver and pa
per being refused. Owing, however, t
Z the premium at which gold is held b!
+ the banks. this results in considerable
Z loss to those sending money in thi'
manner and often also TO great incon
venience after banking hours.
To accentuate the inconsistency o
the country's refusal officially TO recog
nize its own currency. it need only b.
H mentioned that the amount of Italian
gold in existence is n negligible guam
3 THY and that the government ruling re
suits in forcing those patronizing tn
postoffice 10 purchase French gold
q Justly angered by this Inconsistency
on one occasion I relieved my feeling
in the presence of the official who ha,
refused the offer of Italian paper mon
ey by a sarcastic reference TO the non
existence Of native gold coinage. TIL
resultant indignant search through hi
= money drawer failed to reveal a singl
4 Italian gold piece. although it results
nearly in an attack Of apoplex
brought on by patriotic wrath.
Z The application of my little article /
this: Are not these conditions in tn
home land responsible for the FIRE
queney with which Italians of 10y
class IN America are caught counter
feiting our Uncle Sans silverware?-
x w w Whitelock in Chicago Record