The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-05-10
SHIP AMERICAN MONEY
CIRCULATE IN EUROPE
SHIPS LEAVING NEW YORK CAR
ny MILLIONS IN U. S.
BANK NOTES.

/ Roughly it has been estimated Off
cially that S2OO.OO0.0OO worth of our
own money is outstanding in Europe
/ 1t is far greater than that, and is rap
idly increasing; for the newest indus
try of the big express companies, for
eign exchange specialists and steam
ship lines has become the expectation
of American bank notes in small de-
nominations, but large quantities go
10y registered mail and special ship
ments, says the New York correspond
ent of the Philadelphia Public Ledger
Truck Loads of Cash.
shortly before the sailing of one of
the large ocean liners "a few days ago
a motor truck. well guarded by detec-
tives. rolled ont on the pier and took
its station at the foot of lowered
gangplank
In rapid succession wooden boxes or
cases bound with iron straps and hay
ing leaden seals We're handed down
from the vehicle and rushed aboard
the steamship. The boxes averaged
one foot long, one foot high and one
foot deep although some of the mys-
FERROUS containers We're of smaller
size
Once on the deck the boxes were
relayed quickly into the pursers
storeroom. which was afterward lock-
ed and carefully bolted. A man who
had been in charge of the strange
cargo took "A receipt from the purser
and left the ship.
what was in those boxes?" we lat
err asked him.
american money" he replied. as if
there was nothing remarkable in the
circumstance.
Not coins?"
mo we ship coins on those rare oc-
casions when there is hard money
moving eastward, in specially made
coin kegs or double canvas bags" he
answered. what you have just wit
messed is the debarkation of Amer-
can paper money insured for its full
value. The cases l have loaded aboard
contained bills-most of them in 81,
80, IS and SO denominations, and
some packages Of $40 bills They are
shooting it across these days on near
ly every ship that sails for north Eur
opean ports"
Better Than Gold.
How many of us will recall in the
pre-war days the scorn of European
shop keepers, cab drivers and cafe
owners when proffered American bank
notes, only those acceptable at all be-
ing the gold certificates and even
those We're taken with wry faces
Today the most sought after things
of money value in Europe are Ameri-
can bills, and returning travellers tell
pathetic tales of confederate money
and counterfeit script now being wild
ly grabbed in the cities and towns of
Germany Austria. Poland and Hun
gary and the various Baltic provinces
which have been transformed into the
small republics of Latvia. Lithuania,
Esthonia and Finland. not forgetting
the Free City of Danzig.
I'VE have been extensively export
ing American bank notes to north
Europe for some months now, and the
htuidHQ Abi Niltil 10 ldBihl9 lAlNi cas-
ing" said Donald rockingham this
general manager of the new
business department of the American
Express company.
Remember that the German mark,
which before the war ran 5 to the
dollar, has deprecated to 21,OOO to the
dollar. The Austrian crown, that once
was valued at nearly to the dollar,
now sells in paper money at $4,000 to
he dollar, while the last known quo
.ation of Russian rubles was millions
10 the dollar.
TT is logical that the people in
hose countries which have lost cred
{ with themselves should seek possess
sion of a foreign currency of known
high standing. In Berlin a premium
IF 55 per cent is being paid for Amer
can bank notes over what is given
or a New York draft
Travellers checks issued by Amer
can institutions also sell for a pre-
MUM, and in some communities have
attained the importance of local me-
lum of exchange. Because of the
'oreign governmental restrictions up
IN gold, that most precious of money
s at discount and not wanted
lbroad. Our paper money in Europe