AMERICAN PAPER MONEY.

Otago Daily Times, Issue 20380, 11 April 1928, Page 10

AMERICAN PAPER MONEY.

CIRCUMVENTING THE FORGER. In the United States there are about 900.000. pieces of paper money of a face value of about 5,700,000,000d0i (£1,150,000,000) outstanding from the Treasui’y on any given day. *lhese onei a great opportunity to counterfeiters not only by reason of their large number, but also because there are as many as 60 different designs of paper money in circulation (states the New York correspondent of the Melbourne Argus). Only an export could be expected to be acquainted with all the designs. This makes detection of spurious money difficult, r problem which has occupied the Treasury Department for some time. It has finally been decided to issue new paper money of smaller size. The engraving on bills of the various denominations will be standardised, no two being alike, as is sometimes the case now. The new size of note will be ore convenient to handle and require less folding. These are not the only considerations, however, which have led to the adoption of the new notes. Without making any additions, and by merely accomodating its presses to the new size, the Bureau of Engraving and Printing can increase its capacity 50 per cent., and save 2.000. (£400,000) a vear. Presses now printing eight notes at one impression will be able to print 12. One dollar bills constitute 70 per cent, of the total number of bills, and at present the Bureau of Engraving is only one mouth ahead of the demand for this denomination. With the introduction of the new bills, and the consequent saving in time and space, the bureau will be able to place, a larger margin between itself and the public demand.