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F E D E R A L RESERVE BANK
O F N E W YORK
(" Circular No. 351
I March 11, 1921
Cash Department
New Counterfeit Paper Currency
$10 National Bank Notes; $50 Federal Reserve Notes
To all Banks, Trust Companies and Savings Banks
in the Second Federal Reserve Disrict:
Notice has been issued by the Treasury Department under date of March 8,
1921 in circular letter No. 460 calling attention to three new counterfeit notes
described as follows:
National Bank Note
"On the National Bank of Commerce of Baltimore, Maryland; check
letter F ' ; charter N o . 4285; bank No. 60747 in lower left face of note;
Treasury N o . T469419B upper right face of note.
"This counterfeit is apparently printed from wood-cut plates, on a
single piece of paper, red and blue ink lines being used to imitate the silk
fiber of the genuine.
The note is very poorly executed, and a glance a t
the portrait of McKinley should readily detect it.
About eight or ten of
these bills were passed in Baltimore, Maryland, in J a n u a r y . "
$50 Federal Reserve Note
"On the Federal Reserve Bank of Chicago, Illinois; check letter 'A';
face plate N o . 3; W. G. McAdoo, Secretary of the Treasury; John Burke,
Treasurer of the United States; portrait of Grant.
"This counterfeit is printed from etched plates of crude workmanship,
on a single sheet of thin paper, red and blue ink lines being used to
simulate the silk fiber. I t should not deceive the ordinarily careful handler
of money."
$50 Federal Reserve Note
"On the Federal Reserve Bank of San Francisco, California; check
letter 'A'; plate No. 6; W. G. McAdoo, Secretary of the Treasury; John
Burke, Treasurer of the United States; portrait of Grant.
"This note is also printed from photo-etched plates, but silk threads
have been distributed between the two pieces of paper on which it is
printed. I t is a poor counterfeit.
" I t s circulation so far has been in the Hawaiian Islands, but it may
be expected t h a t some of them will make their appearance in our Pacific
Coast cities. Care should therefore be exercised in handling all $50 notes
of this issue."
Very truly yours,
BENJ.
STRONG,
Governor
@FedFRASER