The Birmingham age-herald., 1917-06-22

New York, June I.-(Special.) )-Not the
 least of the, evidences of the business
 prosperity which is now speeded up all
 most to it's capacity, is furnished to those
 who receive at paying tellers' windows at the banks currency paid out upon
 small checks.
 These bills are in small denominations of $1 and s2. They are greenbacks and the expert eyes in the banks have rec ognized ever since these small denomina- tions were issued few weeks ago that the treasury department is using old plates of the $1 and $2 denomination. So long have people been accustomed to
 greenbacks of no smaller denomination than $5, that it occasionally and even often happens that mistakes are made, it being presumed that the $1 greenback or the $2 greenback is really a $5 note The reason for this recent infusion of greenbacks of the denomination of $l or $2 in the currency is of itself suffi- cient to prove that great business pros perity prevails throughout the country. For demands for an unusual amount of , DlllS Ol SIDdll lieiNO NCSAA received at the banks and at Washing ton. The printing and engraving bureau, 1t is understood, cannot print more sil- yer certificates of the denomination of $1 or s2. Therefore it was necessary to turn to another resource. The banks and the treasury department have been in possession of greenbacks of large de- nominations, $1O,0O0 or more. These have been withdrawn and in place of them have been issued greenbacks of the de- nomination of $i and $2. These issues do not increase the aggregate of the green
 back, but they do greatly increase the
 use of these promises to pay as circu-
 lating medium.
 It Is an axiom of both banks and busi- ness men that when there is an unusual demand for currency of small denomina- tion, that demand points to great busi-
 ness activity. By and by farmers in the west will have need of small currency for the payment of their farm hands. al- though within the past five or six years some farmers have been making use of checks for payments of this kind, being able to do that because of the improve
  ing district.
 This morning the president of one of the banks In New York city, through which subscriptions of nearly $5,000,O ,O0C l were received, about all of these sub- scriptions being for bonds of less than l 5000 denomination, and the greater pro- portion of them having been bought upon the installment plan, said that the ma | jority of the first payments (being g for | each SlO0 bond) was made in greenbacks l of the denomination of $1 or $2. There | fore, it is reasonable to assume that ii l this is the case with one bank, 1t has | also been the experience of many, so
 that the issuing of greenbacks in the smallest possible denomination has
 greatly facilitated the sale of government bonds.
 l Official announcement comes from | Washington that Secretary McAdoo vii accept subscriptions for no more than tho full amount of the $2000, 0Oo,0O0 liberty loan bonds. In other words, the over subscriptions will not count, excepting 1 for the moral effect. Excellent reason! are given, in the view of financial au l thorities for this decision of the Secre 1 tary of the Treasury. For in their opin l ion it points inevitably to the fact tha 1 the Secretary now has in mind the max ! ing of an offer for another large loan 1 perhaps as much as $3,0O0, 0000C0 sometime l in the autumn. If he were to accept nov oversubscriptions for the liberty loai which may reach as much as $7Ooo0o,oo 1 or $500 O0O,0 900 he might in that way I'm pair. for reasons which the banking au thorities understand to some extent, tn
 success of. the new loan.
 That the>Aew loan will be success l now the opinion commonly expressed, being frequently said that the temper o the American people indicated by tn great popular success of the present loa' I assures success for new offering. on of those in the financial district wno na
 devoted almost all of his time for fou