Smyrna times., 1933-07-05
BOGUS MONEY
BEING FLOATED
Counterfeiters Spur Activities
During These Times of
Depression
MANY ARE ARRESTED

WasLingtOn.-Depression and un-
employment have brought an in
crease in cOunterfeiting and led to
greater vigilance on the part of the
United States secret service. De
scriptiye warning circulars Of sew
enteen examples of counterfeit notes
have been broadcast during the last
fiscal year and about seventy un-
identified productions of varying
types and denominations have been
circulated In different sections of the
country for short periods.
In all my experience l have never
known a time when counterfeiting
was so prevalent" (" said Chief w. H.
Moran recently. The experience he
referred to covers the last half cen
fury.
Idleness and hunger lead to des-
peration, and desperation has turned
more than one honest man into a
counterfeiter, according to Chief
Moran, who observed that counter
feiting invariably increases in hard
times.
Many Are Arrested.
The only real measure of the vol
ume of counterfeiting now going on
may be found in statistics relative
to arrests and to the seizures of
spurious money.
In the year ended June 30, 1892,
counterfeit notes aggregating $34O,
53S and altered notes aggregating
$24,215 were seized by government
operatives of the service. and count
erfeit coins totaling $49,773 were
confiscated. About 1000 persons
were arrested charged with counter
feiting and passing counterfeit
notes.
"The counterfeit notes captured
during the year were largely used
in evidence against the makers and
passers," Chief Moran said. In
connection with investigations and
arrests, agents captured or seized
$50 plates and glass and film mega
tiyes for printing counterfeit obli-
cations and securities, including five
plates for foreign notes, $50 molds
for counterfeiting coins, including
three molds for foreign coins, and
twenty-One dies. together with
large quantity of miscellaneous ma
terials and paraphernalia."
A large percentage of the men
held for counterfeiting were convict
ed.
Methods of detecting counterfeits
vary widely. Generally speaking, a
counterfeit investigation is begun
when spurious money is known to
have been passed or when an at
tempt has been made to pass it.
Much of it is prepared by the photo
engraving process and Is easily de-
tected. Money made from engraved
plates usually gets by until it
reaches banks. In a few cases
counterfeits have been accepted
even by banking experts.
Get Anonymous Tips.
Information concerning counter
feiting operations is sometimes re-
ceived by the secret service from
anonymous sources; sometimes as a
result of Investigations of other
crimes by local police; sometimes
from persons seeking revenge. Cap
ture of counterfeit money plants is
thus sometimes possible before
notes or coins actually have been
put into circulation.
Only in rare instances does the
counterfeiter escape. In normal
times he is very soon caught I'm
der present conditions, Chief Moran
said, he is able TO remain at large
for a longer period, because of the
large volume of counterfeiting.
The public is warned from time
TO time by the secret service of the
presence of bogus money in various
parts of the country. Formal no
tices are given to the press togeth-
er with a complete description of
the spurious currency and the de-
fects hy which IL NAV be detected