Middletown transcript., 1914-02-14
READY TO MAKE
THE new MONEY.
A Complete Set Needed Under
the New Currency Law.
THE DESIGNS ALL PREPARED
Three Characters Contemplated Tc
Meet the Requirements OF the
Various Issues Provided
BY the Law.

Washington, D. C.-The system pro
vided by the new currency law will re.
quire a new issue of paper currency,
and the artists of the Bureau of Print
ing and Engraving, where the paper
money is made, are already at work
preparing designs. No official ap-
proval has yet been given to the de-
signs, but the artistic merit Of those
already submitted has been applauded
by officials of the Treasury Depart
ment. 1t will probably be a year be-
fore the new money will be required
for circulation, and this will give
ample time to the engravers to pro-
duce the best workmanship possible, if
the designs are early passed upon. 1t
is probable that the designs submitted
will await the return of Secretary Nc
Adoo for his official sanction.
The designs contemplate three char
acters of paper currency-the Federal
reserve note which is to displace the
emergency currency, the issue Of
which was extended a year by the new
currency law; the Federal bank note,
for issue as the circulation currency
Of the reserve banks, as the national
bank note is now the circulation
medium of national banks, and nation
a. bank notes to replace the circulation
of national banks that do not cancel
their present circulation and that take
advantage of all or part of the 20-year
period for the retirement of all nation
al circulation.
The notes are to be made in value Of
SIS, SO, $40, $50 and upward. The
three characters of paper currency are
to be similar in all respects, except
that each will be distinguished for the
character of currency that it is by the
engraved words, Federal reserve cur
rency, Federal bank currency or ma
tional bank currency and other neces-
sary descriptive matter of similar
character.
The size Of the notes will follow the
present standard, although it is most
probable that a later issue will con-
form to the size proposed in an issue of
paper currency by the last administra-
ton directed, and never put into cir
culation, and held up by this admins
tration.
The faces of the fve-dollar notes, as
designed, bear the portrait Of Presi-
dent Abraham Lincoln in miniature on
the right-hand side of the note. The
denomination is expressed in large
Arabic numeral, one at each of the
four corners. There is a delicate and
beautiful border around the edge Of
the note, leaving a wide >expanse Of
white in the center. The back of this
note bears designs illustrative of agri-
culture. At one end of the note is
scene depicting agricultural pursuits.
At the opposite end is an allegorical
group devoted to the same theme.
There is again considerable expanse of
white center.
Cleveland is to be the portrait for
the ten-dollar note. Manufacturing is
the theme for the back of the note,
with scene of a busy factory, and
aIIegorical figures, following the same
treatment, given the back Of the FIVE
dollar note. Commerce is to be the
theme of the twenty-dollar note, and
Jefferson the portrait Grants por-
trait is to adorn the ffty-dollar note,
graver's theme for the back.
with arts and sciences as the en-
The backs Of the five and ten-dollar
notes, and the face of the fve-dollar
note have already been drawn, and the
drawings submitted for approval.