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mmarotta

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Posts posted by mmarotta

  1. In some years past, after Midnight Mass I have given a gold coin and myrrh to the Baby in the Manger with a note: "Balthazaar will be here later with the frankincense." I am sure that it always gives the priests something to talk about.

  2. These were the last two coins I bought to complete my collection of small Greek silvers, worth about a day's wages, from the towns and times of famous philosophers. I bought an Abdera obol some years earlier, but then re-attributed it to Samos. Abdera was the home of Democritus (Demokritos) and Protagoras. Democritus posited the existence of atoms (uncuttables) as the ultimate constituent of matter. Protagoras is known from the Dialogues of Plato for his debate with Socrates.

     

    (The images are in my Gallery. I am still having problems here. I cannot upload images from my computer. I was looking for a way to link from the Gallery, but I do not see that option.)

  3. The range of centuries in one small stash is astounding. Suggests that the stash is older than the 7th century I guess?

     

    How would that be possible? The artifacts, the coins, go back to the 4th, they say, but the most recently minted coin defines the "terminus ante quem" (nothing earlier than this). They could have been buried yesterday, but they could not be locked up before the coins were minted.

  4. One a little near and dear - I spend these in circulation and Lesya Kosach aka Ukrainka was a foremost poet and author in Ukrainian literature:

     

    Very nice, indeed. The Franklin and Hall is also easy to like. See below.

     

    Fascinating you mention the Ben Franklin notes. I remember reading somewhere that Ben Franklin was actually revolutionary in the field of currency printing in that he incorporated tree leaves into the print as an anti-forgery device (leaf impressions are like fingerprints and very hard (at least in those times) to replicate)

     

    If you goto the Library of Congress website, you can find this illustrated narrative about Franklin, printing, and money.

    http://www.loc.gov/exhibits/treasures/franklin-printer.html

     

    Just following the easy hits from the search engine produced this from the University of Missouri Press:

     

     

     

    In Benjamin Franklin’s Printing Network, Ralph Frasca explores Franklin’s partnerships and business relationships with printers and their impact on the early American press. Besides analyzing the structure of the network, Frasca addresses two equally important questions: How did Franklin establish this informal group? What were his motivations for doing so?
    This network grew to be the most prominent and geographically extensive of the early­ American printing organizations, lasting from the 1720s until the 1790s. Stretching from New England to the West Indies, it comprised more than two dozen members ... (Follow link above for the rest.)

     

     

     

     

     

    Franklin also used mica chips in his notes.

     

    The American Philosophical Society has a bit on David Hall (1714-1772) here:

    http://www.amphilsoc.org/mole/view?docId=ead/Mss.B.H142.k-ead.xml

  5. On my blog here:

    http://necessaryfacts.blogspot.com/2013/11/money-as-press-and-speech.html

     

    I actually have about a dozen of these. Another Iceland shows people reading. A little one from China comes from a textbook publisher. Brazil honored its poet Carlos Drummond de Andrande. Estonia is all about authors and I have a couple of those, also. I was told by an ethnic Estonian that in the 1930s, people did not counterfeit money: they counterfeited postage stamps because it is a nation of writers. I also have a Danish note with Karen von Blixen-Finecke ("Out of Africa" writing as Isak Dinesen). I suppose that as with the Scientists, the American author who fits the series is Benjamin Franklin. Can't get a good scan of one of those, not a modern one anyway.

     

    Speaking of Franklin, nice artifact there, Scotty! Condition is not great, but the name makes up for it. Actual Franklins are rare.

  6. I am creating an article for my blog and these will be some of the illustrations. It is a famous argument here and now in US politics whether or not "money is speech." These are some of the banknotes I have that celebrate Writing, Printing, and Literacy. Money is Speech - Money is Press.

     

    Greece 200 scholia Back.jpg

    In Greek: Krypho Scholeio: The Hidden School - from a time when teaching Christianity was punish by Islamic Law of the Turkish occupiers.

     

    Iceland 50 Thorlaksson Back.jpg

    Iceland's First Printing Press

    Iceland is the world's most literate nation, as measured by the number of books published per capita in the native language. On the face of this note, Guðbrandur Þorláksson (1541-1624) who edited and published at least 80 books, including the Bible in Icelandic and the Icelandic Lawbook.

     

    France 50 Saint Expupery Face.jpg

    Antoine de Saint Exupery, author of several books including the whimsical Little Prince, but also Night Flight and Wind Sand and Stars. A personal friend of Anne Morrow Lindbergh and Charles A. Lindbergh, he returned to France in 1940 for fly for the Free French and was shot down over the Mediterranean.

  7. The Alberta notes (ccg #5 above) are considered part of the same cultural context. The economies and of course the cultures of the US and Canada being so tightly bound, that the standard reference - The Standard Catalog of Depression Scrip of the US by Mitchell and Shafer includes Canadian issues. See also the website http://depressionscrip.com for Alberta Stamp Scrip.

     

    Re Detroit (Scottishmoney #8 above), yes, the note has the "snap" that bankers like. I am not sure if a general taxonomy can be made by this, but the the Detroit scrip was a loan against property taxes. So they had more resources to depend on. Also, Detroit was a large, otherwise booming industrial city of its time, the Silicon Valley or Edinburgh of its time. Henry Ford told a newspaper that the "real" depression was six months in the past. Whether or not that was true, the fact is that they had reason to expect a temporary condition that allowed them to draw on their resources, and thereby to print high quality notes.

     

    On that point, when I worked with the Traverse City Bay Bucks committee, I found an old-style printer, Backwoods Press, who could have produced intaglio on hemp paper, but the Committee Comrades saw no reason to waste money on money, which to them was just a utilitarian medium; so Traverse City got the proletarian version.

  8. This forum - as most others in numismatics - is organized by a physical taxonomy: US coins, Foreign coins, ... etc. In fact, my collections are all pretty much thematic. This Sierra Pen medal fits into a couple of categories, perhaps the more salient being Writing & Publishing.

     

    I have these banknotes:

    Bulgaria celebrated its first printing press.

    Iceland celebrated literacy.

    Slovenia honored its first ABCD.

    Hungary was always big on the poet Sándor Petőfi and I have several.

     

    And I have this medal from the Pitman Graphics Company

     

    Pitman+Graphics.JPG

    Bronze 75 mm (3 inches). Extremely high relief.
    Plain edge with incuse “Medallic Arts Company Bronze.”
    Obverse: “Serving the Graphic Arts / 1906 – Fiftieth Anniversary – 1956”
    “Pitman” (At left above P engraver’s name: Harold M).
    Center: in Wreath: Camera, Press, Engraver’s hand with tool.
    Reverse: three scenes: “Photo Engraving”: “Lithography”: “Rotogravure”.
    Center triangle with center circle Camera and operator.

    Harold M. Pitman founded the company in Chicago in 1907. Starting out by himself, he made and sold steel dies and copper plates to engravers. Pitman celebrated its 100th birthday in 2007. Agfa Gevaert Group acquired Pitman for $80 million on July 15, 2010. The Pitman brand is still seen at 16 sales and operations offices in the USA.
  9. Sierra_obv.jpgSierra_Rev.jpg

    38 mm. Silver. Reeded edge.
    Obverse: “Sierra Ball Pens” on Mountain. “Faber Castell / 1986” below.
    Reverse modeled on Morgan Dollar.
    Legends “
    United States of America One Troy Oz. / .999 Fine Silver.”

     

     

    November 16, 2011

    The World's Biggest Maker of Pencils Tries to Erase its Eco-Mark

     

    Faber-Castell treesFor Americans, Faber-Castell may not have quite the name recognition of, say, Ticonderoga. Which doesn't change the fact that Faber-Castell is the world's leading producer of wood pencils, cranking out some 2 billion graphite-filled sticks per year.

     

    That’s a lot of wood.

     

    Fortunately, the family-run, Germany-based company, which this year is celebrating its 250th anniversary, is trying to do better by the environment by strengthening its commitment to conscientious forestry.

     

    One of its biggest eco-initiatives came in the mid-1980s, when the company started a sustainable tree-planting project in Brazil. Developed on former grassland and nowhere near the Amazon River, the company-planted pine forest provides about 75% of Faber-Castell's wood. After the trees are cut down, they're quickly replaced with seedlings of fast-growing pine species.

     

    SeedlingCovering nearly 25,000 acres in the Brazilian state of Minas Gerais, Faber-Castell reserves 30% of its land as habitat for more than 200 species of birds, mammals, reptiles, and amphibians, some of which are endangered.

     

    Because of its forest project, the company says it's carbon-neutral three times over — that is, it absorbs three times more carbon dioxide than it produces. Faber-Castell also claims to be the first in the industry to use a water-based varnish for its pencils, replacing the old coating based on chemical solvents. This also makes conditions healthier for employees.

     

    The company's other green initiatives include reducing its non-recyclable waste: Of Faber-Castell's total amount of refuse, 88% is now recyclable. And 90% of the energy used at its Brazil location comes from renewable sources, mainly wood and water.

    http://sierraclub.typepad.com/greenlife/2011/11/pencil-maker-faber-castell-environment.html'

     

    http://www.fabercastell.com/company/about-us

    Faber-Castell, established in 1761 by the cabinet maker Kaspar Faber (1730-1784†), is one of the oldest industrial companies in the world. The company is the world’s leading manufacturer of wood-cased pencils with a varied range of products for writing, drawing and creative design, as well as decorative cosmetics. Faber-Castell is renowned for its high quality, innovative products, commitment to tradition, and environmental awareness.

    Lothar von Faber (Fourth generation, 1817-1896†) took over the family business in 1839. He is remembered, in particular, as a pioneer of the branded article who in creating his own brand name set a new standard that became a yardstick – not just for this line of business, but also for the generations who later headed the company. “From the start I was determined to raise myself to the highest rank by making the best that can be made in the world.”

    Today the eighth generation family member Count Anton-Wolfgang von Faber-Castell, who took over as head of the company in 1978, has been instrumental in new product development and the expansion of international activities. Count Faber-Castell takes delight in rediscovering products from the past and recreating them with timeless design and modern technology.

     

    More industrial medals on my blog article here.

  10.  

    "... Mike DeGuerin, an attorney for the family, told ABC News affiliate KTRK that the coins were returned to the family. He told the station the family's father had been saving them for decades, but had died recently. Someone who was helping his family clear out the garage was given the safe to sell as scrap, but was supposed to return anything inside of value once he figured out a way to get it open.

    Smith said, "The two parties involved worked out their differences, and the coins were released to the individuals involved yesterday afternoon."

     

     

  11. Yeah... that is an interesting fact, that governments claim a monopoly on money. I mean, it is in the US Constitution Art I Sec 8 as an enumerated power. But I also point out that Congress shall keep and publish a journal (Article I Section 5). Other people could sit in the galleries, take notes - sometimes verbatim with shorthand - and publish their reports. At first, the US Senate kept no records. They were not required to, only allowed to if they wanted: "shall". So that is a double problem. They were empowered to keep and publish a journal but chose not to; and, again, to meet the public need, private individuals reported on the Senate. So, what if the government chose not to mint coins? To me, this is a grey area, a contradiction within the Constitution.

  12. The Howell Trade Dollar

    by Michael E. Marotta


    The Stock Market Crash of 1929 marked the onset of the Great Depression, but it took 30 months for the banks to fail. After all, the stock market had crashed often, sometimes twice in a decade. While the effects were not to be ignored, they were negligible in an agrarian, frontier society. The purpose of the stock market is to raise new capital for industrial ventures and in this it competes with other avenues. (Venture capitalists were known in ancient Athens.) So, it took three years of government intervention, first under Hoover's New Deal, then, finally under Roosevelt II, before total economic collapse occurred. And even so, all that was missing was money. Most people had the same assets (and liabilities) they held the day before and would hold the day after. What they needed was a medium of exchange. So, the Howell Board of Commerce issued "stamp scrip."


    The First National Bank in Howell was placed in conservatorship on February 13, 1933. The Howell Trade Dollar was issued on February 22. Within two weeks, all 5000 notes were in circulation. This is telling because in order to get one, you had to spend $5. Some people bought automobiles in order to acquire many of them. Other people paid off accounts three years old. The notes circulated for 6 months and were widely regarded as having been successful.


    What made this scrip special and subject to study on the national level is that it depended on the "velocity" of money. The holder of a note had to spend it every three days. When the note was spent, a 2-cent stamp was affixed to the back. After 52 transactions, the note was redeemed by the Howell Board of Commerce for a real dollar. (If the note was not spent, the holder still had to buy a 2-cent stamp.) The idea was to keep this money in circulation.


    The notes had a natural tendency to accumulate in the shops of retail merchants. Therefore, they were sold to businesses, school boards, etc., at a 5% discount. Citizens Insurance of Howell was one of many businesses to pay wages in Howell Trade Dollars.


    Some of the details of how the scrip was actually used are no longer clear. Some issues show some kind of tally. It is not likely that these are final evaluations, since about half the places are still open. Many of the stamps have double zeroes written across them. The tallies could represent the whole dollar value of the purchase which necessitated the stamp. If so, the 00 would indicate that the stamp was bought as a penalty for holding the note without spending it.


    Also, according to the legends on the back of the note, stamps were required every 10 days. The notes seem to have been intended to circulate from July 25, 1933 to December 6, 1934, a total of 509 days, 519 allowing for a 10-day period before the first stamp was due.

    Fostoria_Face_2.jpg

    Detroit_face_3.jpg

    Detroit_back_3.jpg

  13. STAMP SCRIP

     

    During the Great Depression of the 1930s, hundreds of communities created their own currencies. I believe that 1200 of all kinds have been catalogued. That includes "wooden nickels" as well as debt instruments, such as that of Detroit, and other cities, that borrowed against future property taxes. In Lansing, Michigan, the city-owned utility, the Board of Water and Light, created emergency money that could be used to pay for city water and electricity bills. The city's own workers were paid some fraction of their wages in this scrip and it circulated well in the community.

     

     

     

    Stamp scrip was also a popular alternative. It was based on the theory of "velocity" of money, then still a relatively new concept from economist Irving Fisher who endorsed the scrip of Wörgl in Austria. Different plans were put into place, but essentially, at each transaction, someone paid a small fraction of the note's nominal value as a "tax" or "subsidy" and a validating stamp or sticker was affixed to the note. Usually the backs were adorned, though sometimes the fronts, depending on the number of stamps needed. In Howell, Michigan, stamps were required every 10 days. The notes seem to have been intended to circulate from July 25, 1933 to December 6, 1934, a total of 509 days, 519 allowing for a 10-day period before the first stamp was due.

     

     

     

  14. The best website for this is http://www.depressionscrip.com which has a good history and a wealth of images.

     

    From my collection.

     

    Howell_Face_2.jpg

     

    For an article in the MSNS Mich-Matist, I wrote:

     

    In 1929, the New York Stock Exchange recorded dramatic price collapses on October 24 ("Black Thursday") and October 29 ("Black Tuesday"). What is missing is a connection between the NYSE of October 1929 and the banks of Detroit in February 1933. It was there, in Detroit, on February 14, 1933, 40 months later, and 600 miles away, that the bank failures of the Great Depression began.

    To be sure, bank failures were common in the years before 1929-1933 – and so were bank openings. From 1884 to 1921, the number of banks had sextupled from 5000 to 30,000. Not only were these generally small banks – some capitalized near the minimum $25,000 – but after 1921, the new operations were often branches. The federal Comptroller of the Currency had opened the door to allow city banks to compete in towns and villages. From that point, bank failures increased, as is to be expected from increased competition. In January 1933, it seemed that the summer of 1931 had been the lowest point possible and that a recovery was unfolding.

    Speaking to a United Press reporter in Dearborn, on February 1, 1933, Henry Ford called the period 1923-1929 “the real depression.” At that time, two holding companies dominated finance in Detroit. One was the Detroit Bankers Company Group. The other was the Union Guardian Group, colloquially called “The Ford Group.” When the Union Guardian Group experienced pressure from withdrawals, it turned to the federal government for a loan. However, the Reconstruction Finance Corporation required that the Fords subordinate $7 million that the banks owed to them, which Henry Ford refused to do. President Herbert Hoover set up a meeting with Ford, Arthur Ballantine (Under Secretary of Treasury) and Roy D. Chapin (Secretary of Commerce). Chapin was a former Olds executive and co-founder of the Hudson Motor Car Company. He appealed to Ford as a fellow manufacturer. Ford replied that Hudson stock was traded on the NYSE, which Ford’s was not, and that a washout of the banking industry seemed inevitable. Chapin replied that if people do not have money to buy cars, Ford was in for hard times himself. Ford said that he felt young enough to start over from scratch. Ford said that everyone else ought to be prepared to get up a little earlier and work a little harder. He also said that he would withdraw his $25 million from the banks in the morning. He did not get to do that.

    The next morning, February 14, 1933, Michigan’s governor, William Comstock, declared a banking holiday. The proclamation had been signed at 1:00 AM, published, and delivered to bankers when they arrived for the start of the business day. Two weeks later, outgoing President Hoover hesitated to declare a national bank holiday, so the newly-inaugurated President Roosevelt did just that. On March 21, 1933, the Michigan Legislature passed the McNitt-Green bill, granting the governor “dictatorial powers” over banks. Unlike Hitler, Mussolini, and Stalin – to whom he was favorably compared by newspapers in those troubled times – Gov. Comstock had modest goals and eventually declined further powers to control the insurance industry as well.

     

     

     

     

    Howell_Back_2.jpg

     

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