The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1913-05-23
DOUBTFUL MONEY.
Italy Teens With Worthless and
Counterfeit Currency.
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.


Korea, Who're the Descending Scale
Is Good, Half Good, Bad and coun-
terfeits Good Only After Dark.
OF all the so called great powers
Italy has the most unstable and most
unsatisfactory currency. Not alone is
the exchange subject to Quotation
Chat 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 oout
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 circua-
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
SLOWED 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
rule, refused in commerce. Numerous
papal and Roumanian coins are stlIl in
circulation, although they are value
1r,cc, n,,lx |,17 ffr
eigners, whom the Italians regard as
fair prey.
In addition, none of the large num-
ber 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" (clected)
on the face
The Italians possess mania for mu-
tilating and perforating the five and
ten centesimo copper coins, but owing
to their small denomination this usual
ly acts as no bar to their acceptance.
"Oh, it's half goodp' is often heard
from some philosophical storekeeper as
he tosses 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 q worthless coin into his keep
ing On one occasion l was tracked
even to the dinner table of friends and
forced to redeem a doubtful ten cen
tesimo piece q cents which ! had in
advertently offered rs 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 incon
venience after banking hours.
To accentuate the Inconsistency of
the country's refusal officially to recog-
nize It's own currency, it need only be
mentioned that the amount of Italian
gold In existence is negligible quan-
tity and that the government ruling re
suits In forcing those patronizing the
postofffce 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
homo land responsible for the fire.
quency with which Italians of low
class In America are caught counter
feitlng our Uncle Sans silverwaref-
w. w. Whitelock in Chicago Record
Qnrnld