Year: 1873

"Gath,'' the Chicago Tribune s
versatile correspondent, has been
amusing himself lately by interview
ing an engraver on the subject of
counterfeit money. Said this gen
tleman, '.I am one of the oldest
engravers in the country. There is
an investigation to be made into the
currency of the country, which will
startle you and your newspapers and
all their readers. There is ten
dollar bill. Take it-look at it. Do
you see anything notable about it r
looked the bill all over, and then
the man all over. and saw nothing
to excite a remark in either
There is nothing particular about
that bill," he said, except that it
is counterfeit. There are eighteen
distinct counterfeits on the ten dol.
lar bill, and as an cngraver / know
that they represent eighteen different
counterfeiting gangs. People gen.
orally know nothing whatever about
the duplication Of United States
bonds. and about the quantity of
counterfeit scrip afoat. If you. as
newspaper man, were to go to
General Spinner, and to the heads
of the Treasury, and ask how much
counterfeit currency was in circula-
tion, they would probably tell you
ten per cent: but tell you. as an
engraver. that they have admitted
to me that there is twenty-five per
cent, or one-quarter of the whole
amount of the stamps current in this
country, which are fraudulent. DO
you know, sir, that the postal cur
rency is renewed six times every
year? That is the case. and see the
possibilities for its increased duplica-
tion and counterfeiting. We could
better afford to pay fifty per cent.
premium, and use gold. than to have
to. deal as we do with lot of paper
which is beyond the control. to a
great extent, of the Government
officials. The extravagartly high
prices. and the corruption in our
politics and life. hinge upon the cur
rency. The duplication of the
United States bonds will some day
be found such an alarming matter
that it will bring the whole country
to its feet. That crime began in the
treasury as far back as Chase's time.
John Covodc and others in Congress
made strenuous efforts to expose it,
but they were gagged by the gavel
and the party majority. An official,
who ut that time was connected with
the printing, had in some way got
grip upon the secretary, and could
not be budged from his place by any
power in the country. His accounts
were short one year $63. 900, and he
could not tell where the money had
gone. They kept after him, however,
and on one occasion he appeared
before the examiners with his arms
full Of bonds, and, throwing them
down, said. There are your $685.
000r" Now, there was a press used
for printing at that time, and it ran
repeatedly in the night. The official
himself was seen to emerge after
dark, on two occasions, with q great
tin-box in his hand, which he put
into his buggy and carried away.
Now, how much duplication of bends
do you suppose it requires to make
$4,000 worth of coupons, so as to
equalize that account?" Several
hundred thousand 1 suppose" mo
sir; it took between $18, 100000 and
S19.000,000 of bonds; and about
that time happened the first duplica-
tion.'' looked suddenly into the
old gentleWan's eyes, and was in
great doubt whether I was speaking
to an intelligent lunatic or a great
reformer.