Norwich bulletin., 1917-01-11
New Issue of SI
 and $2 Notes
WILL BE PUT IN CIRCULATION
 ABOUT FEB. 1sT.
TO MEET BIG DEMAND
GreenbacLs of Civil War Days, Dis
 continued Thirty Years Ago, Are to Be Put Into circulation-Bills of Larger Denomination to Be Called In

Washington, Jan 1o.-A new issue of the one and two dollar greenbacks of Civil War days, discontinued more than thirty years ago, will be put into cir c11latiEn, probably about February 1st, displacing similar United States notes of larger denomination to provide re- lief from the unprecedented demand for small paper money. The treasury department announced tonight that the issue had been decided on because silver certidcateS-the ordinary bills of one and two dollar denominatiops- could not be issued under the law in sufficient quantity to meet the de- mand.
 A limit of sS46 6S1. .o16 to the amount of outstanding federal notes was fix ed by the law in 1878 after the green back had become an issue in politics and had resulted in the birth of a new national party, backed largely by the farmers of the west and south. No greenbacks have been issued since 1885, and the amount of outstanding S1 and g notes of that variety now is slight ly over s9 O0O, GOO.
 There is, however. s1o2, ,445, 300 out standing in United States notes of $1o denomination and higher and a portion of these will be retired and cancelled, dollar for dollar, to meet the new is- sue of smaller denominations.
 'fThe demand for paper currency of The smaller denominations" said the departments announcement. ehas al- ways been regarded by the treasury as an index to business conditions. For many months there has been a con- stantly growing demand for one and two dollar bills, until now it is inn Aoss1bIe to meet the country%s needs in &hds respect by means of silver certff- eateS, which for more than thirty years have been the only form of paper cur- rency issued in one dollar and two dol- lar denominations.
 rNF S-fFr zA4o o@1<- Is fixed by the number of silver dol lars coined. such coinage having been discontinued in 1904 it is only possible to increase the number of $1 and g silver certificates outstanding by can ceiling a corresponding number of si1- yer certificates of larger denomination. From July 1, 1915, to January 1, 1917, the number Of s1 and S2 silver certifl- cates increased from S234 5S7, 301 to s2S4, ,82e, ,785. This was offset principal ly by a decrease in the amount of out standing silver certificates of the de- nominations Of S10 and above such a demand existing for s certificates that it has not been possible to retire them
 "In consequence of this conversion of large denominations to small there are now outstanding only about $3o,- than $5 in value and conversions of large denominations to those of small denominations have become increaS- ingly slower and more difficult
 AS the OGLldIlQ CC1I4HuSQ dIlQ De- camo more pressing it became neces- Eary for the secretary to look to an other source, and consequently he has invoked for the first time the provi- sfons of the act of March 4. 1907.
 -'The aggregate amount of United States notes outstanding is limited by law to $346. 6S1,016 and cannot be in creased beyond that amount. How ever, as the amount of United States noteS of denominations of S10 and up- wards outstanding on January l. 1917 amounted to O2.445. 300, it is evident that a considerable increase can be made in the number of S1 and S2 green backs outstanding by means of re- tfrement and cancellation of notes of higher denominations''