Evening star., 1940-01-01
Counterfeit Money
Makers Never Get
Rich, Ma|oney Says
People Are Beginning
To Look at Bills ond
Profit Is Small
By the Associated Press.

By the Associated Press
NEW YORK, Jan. Jim Ma
loney, head of the United States
Secret Service in New York, threw
a handful of bills on the desk and
asked, Can you let me have a
so for these smaller denomina-
tions?"
The coin, currency and credit
editor scribbled quick sum on
the back of his celluloid cuff and
realized that Maloney proposed
fair if non profitable exchange. For
a so Maloney offered four ST bills,
two s6 bills, one 81 bill and two SO
bills.
Accordingly, the obliging editor
peeled so from the large roll he
usually carries. The rubber and
Maloneys bills went back on the
roll, the roll into bandana hand
kerchief, the handkerchief into the
editors flannel underShirt where it
was pinned securely. Two mouse
traps, cunningly built into the shirt
as protection against possible theft,
were set.
"I gave you counterfeit notes-no
better than cigar coupons" Maloney
then said evenly.
The c. c. and C. editors fingers
were nipped in the moustraps as he
hurriedly extracted the roll. Sure
enough, across the face of each
bill there was stamped in huge let
ters: "Counterfeit." Banks had
stamped them thus in retiring them
from circulation.
Maloney continued without ran
cor:
It's suckers like you who make
Treasury agents like me work so
hard. You'd take bills of odd de-
nomination. I've seen your kind
sold rubber money"
Public Being Educated.
Maloney added, however, that the
public gradually is becoming edu-
Gated to the detection of counter
feits and that the amount of
funny money" in circulation has
decreased steadily. In 1887 the loss
through counterfeit was $654,787 and
In 1888 it dropped to $483,021. The
year 1889 promises to be a record
low. The number of arrests, mean
while. have increased.
Indicative of counterfeiting mac
tiVity was the fact that less than
$500 in counterfeit was passed at
the New York Worlds Fair.
That's because people have
learned to look at their money and
call cop when it doesn't look right"
said Maloney. Looking thoughtfully
at the c. c. & c. editor, he observed,
few flve-year- would accept a
81 bill nowadays"
There are no perfect" or almost
perfect counterfeits, Maloney said.
Defects stand out like warts. When
compared with the exquisite detail
OF real paper money, at least dozen
flaws can be detected in the best
counterfeit ever made.
Paper Is Inferior.
The paper is obviously inferior to
the durable IS per cent linen-25 per
cent cotton material, with universal
red and blue silk fibers throughout,
which is manufactured by the Gov
ernment.
The color is not constant through
out. The Governments secret inks
cannot be duplicated. Counterfeit
inks blur, are too black, too gray, too
green or too pale and lack the luster
and flrmness of the authentic inks.
The detail of Government engrav-
Ing can not be duplicated. The best
engravers in the world are retained
in money-making service for life,
and their jobs and lore are passed
on to their children. No counter
1elter can forge the clarity, depth
and life of the portrait on each bill.
Hair appears grayer or whittier, and
open spaces appear where tiny lines
are on the original.
Even without magnifying glass.
counterfeitS can be detected by the
dullness OF points on the Treasury
seal, the irregular spacing and flaws
IN the lettering and serial numbers.
One counterfeiter spelled it "Sep-
tens" instead of "Septent" on the
Treasury seal.
Profit Is Small.
The phoney money makers usually
get 10 or II cents on the face
value-dollar. When the distribu-
tors and wholesale handlers get their
percentage, the ultimate passer's
profit is small.
One of the best buyers of counter
felt money is the Secret Service it.
self, which has had agents members
of the biggest counterfeit rings.
PasSers of counterfeit travel from
town to town, specializing in rush
hours at small stores. Chinese
laundrymen, sailors and ministers
used to be easy victims. One passer
underwent four physical examina-
tions every day, getting SIS change
from doctors for his $40 bills. Big
bills are passed in gambling houses,
vice establiments and narcotic deals.
There is record of one $4,000
counterfeit having been passed years
ago. One fellow passed few rubber
bills; and another made $40 notes
with the picture of New York's
Municipal Justice Jacob Panken in
stead of Lincoln Others split $40
notes and pasted each side to 81
bills.
Il have yet to meet a wealthy
counterfeiter or passer," said Ma
loney. Its one racket that doesn't
pay"
Very well, then replied the c.
c. e. c. editor, I'll thank you for
my so back before I call a cop"
The c. C. & G. editor wrapped the
30 with the other bills, bundled the
wad into the handkerchief with
mothballs, pinned the hoard in the
usual place, set the mousetraps, and
went out to foreclose a few mort
cages on the property of widows