Perth Amboy evening news., 1922-07-07
More Money to Counterfeit

More Money to Counterfeit
Another strong reason TOR an in
crease in counterfeiting resulting
from the far was hat there was an
increase in the number of kinds
of money and securities to counter
felt. When there are but a few kinds
of money in general use, the peo-
pie become so familiar with their
appearance that they quite readily
detect any fault in design or gen
eral appearance. But when there
are many new and unfamiliar kinds
the people are at a loss to know
whether or not they have genuine
money.
Twelve Federal Reserve banks
were established at the time the war
began and all issued currency of
two kinds: Federal Reserve Notes
and Federal Reserve Bank Notes.
Also. the Treasury issued billions of
dollars in Liberty Bonds, Victory
Notes, War Savings Certificates,
thrift stamps, and Treasury Certifi-
Gates of indebtedness. These were
all new to the people and of unfa-
milia1 design. They constituted a
paradise fer counterfeiters.
One of the most difficult obstacles
for the colnterfeiter is the distinc-
tive p on which government
notes are printed. 1t is made by a
secret process and has SO individ-
ual an appearance and feeling that
almost everyone car detect a substi-
tute. All denominations of American
money are printed on notes of a uni
form size. Therefore a %favorite de-
vice of the counterfeiter is to take
a 81 bill and raise its denomina-
ton. He will bleach it and have a
piece of rearly white distinctive
currency paper on which he VIII
print a note of a higher cenomlna-
ton. Such notes are hard to de-
tect, especially if the counterfeiter
prints a $50 or 800 note of a new
and unfamiliar series.
Another scheme is to take a note
and change only the figures. This
proves a snare to the counterfeiter
if he gives such a note to a man
familiar with the designs of money.
Such a man knows that a $40 note
has a buffalo in its design, but no
$50 nor 500 issue has. This sort OF
counterfeiting has increased with
the new money because the counter
letters know that few people are
familiar with the designs of the va
rious new issues.
The same is true of the Liberty
bond issues. Nc two issues are alike
and a counterfeiter changing the
denomination of a 500 bond TO
$1,000 could readily be detected
by one who had studied bond de-
signs.
Experts in Secret Service
The Secret Service at Washington
has many experts who are very hard
IL fool with even the cleverest ccun-
,crfS:t, and while counterfeiting has
increased % a great extent, the cir
cuIation Of counterfeit money has
not done SC. The new counterfeit
issues are detected very early ~
Their careers and the source dis :
cnvcrea and stepped. 1t means more
work and constant vigilance for the
government agents and greatly in
creased investigative work.
The appearance of women in the
co~unterfeiting profession has caus-
ed the Secret Service many diff
c~rflties. The women are not engaged
in the actual manufacture of eoun.
terfeits, but are confederates in the
passing of the spurious currency.
Counterfeiters seldom work alone
in spite of the fact that the records
show that only the counterfeiter
who plays a lone hand meets with
success for any extended period OF
time. But it is hard to practice the
profession singly. The great diff
Guilty is in getting the counterfeit
money into circulation. To accom-
plish this the master counterfelter
has accomplices. The general prac-
tice il for the counterfeiter to sell
his spurious money at a substantial
discount, He will sell a 500 ,coun-
| terfeit bill to a passer for $50 OF
genuine money and of course no one
is more expert in detecting spurious
money than a counterfeiter. The
passer then may make another sale
| getting perhaps SIS in real money
for his S10C counterfeit.
Great care is taken not to lei
many of them get into circulation
at the same place.
1t IS in the passing branch of the
profession that women r being en-
ployed. They make valuable confed-
crates because when detected, they
frequently escape arrest by claiming
10 know little about handling money
and therefore are easily imposed
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