Milford chronicle., 1929-04-19
new CURRENCY WILL
Be SENT OUT FIRST
IN SMALLER NOTES
lCentinred from frsf pGae1


/ black, will have features character
istic of each denomination, while
the back designs will be printed
green and will be uniform for each
denomination, irrespective of kind.
Treasury seals and serial num-
Der will be in a different color dis
| tinctive of each of the different
types.
/ Portrait for Each Denomination
Each denomination, whether Uni
ted States notes, silver certificates,
gold certificates, Federal Reserve
notes or national banknotes, will
have on the face the same portrait
distinctive to that denomination.
Thus all currency in the denomina-
ton of 81 will bear the portrait of
Washington, the So note that of JEFF
ferson; $5, Lincoln; $40, Hamilton;
$40, Jackson; $50, Grant; $1OO,
Franklin; $500, Mckinley; $1,000,
Cleveland; $4,000, Madison, and $1O,-
900, Chase.
ITO protect yourself against rails
ed notes or mistakes in denomina-
tions you should bear in mind these
portraits, for the portrait of Wash
ington will always mean 81 denomi-
nation, portrait of Lincoln $5 de-
nomination, &C.
I'm addition to these changes a
new kind of paper has been de-
Veloped which it is believed will be
far more durable than that formerly
in use.
"It may be interesting to know
something of the great printing
plant in which the work of produc-
ing the new currency is done and
something of its growth. Originally
and at the time the first issue of
'greenbacks' was authorized private
bank-note companies were equipped
to engrave and print such securities
and the work was done by them.
I'm 1862 Congress authorized the
Secretary of the Treasury, in his
discretion, to provide for any part
of the printing and engraving of
notes at the Treasury Department in
Washington, which brought about
the establishment of the Bureau of
Engraving and Printing, and on Au-
gust 20, 1862, it consisted of one
male and four female assistants, Oc-
cupying one room in the attic of the
west wing of the Treasury building.
Printing Plant Employs 1890
"This bureau has grown into a
plant occupying 442,000 square feet,
or about ten acres of floor space,
and accommodates about 1890 en-
ployees, of which about So per cent
are women and As per cent men.
"The average number of currency
notes delivered yearly from this bu-
reau is approximately Y92,00O,O00, of
a value of close to $4,000,G00,00O.
The notes delivered daily, placed end
to end, would make a strip 395
miles long, and years printing
would make four belts around the
earth at the Equator.
Laid fiat, years printing would
make a sheet large enough to cover
farms of 100 acres each.
Laid on top of each other, the notes !
printed in a year would make 555
stacks, each as high as the Wash |
ington monument. The weight of pa
per used in printing currency |
amounts yearly to about 1850 tons, !
Or a daily average of IA tons
"It is estimated that, by the re-
iuced currency program, there will
be saved enough paper which if ex-
pressed in area would cover ten 100
acre farms, or 440 tons of paper, 459
ions of ink, or the capacity of about
fifteen box cars, in addition to other
savings which will naturally follow.
These high lights give some idea
If the enormous work involved in
out the governments pro-
gram for a reduced size currency,
which will result in:
"a currency of greatly improved
appearance from. an artistic point of
Jew.
"a vastly greater convenience in
"a currency which will be infinitely
more difficult to counterfeit and a
cry considerable saving in cost of ,
to the American pub
ic." :