From: "MPCgram" To: Subject: MPCGram 1040 Date: Friday, October 31, 2003 7:31 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 1040 Friday October 31, 2003 Financing War By Warner Talso After discussing Australia, it is logical to mention New Zealand, a close geographical neighbor with a similar society, culture and history. Also a member of the British Empire and Commonwealth, the Second World War resulted in New Zealanders participating in nearly every theater of the war suffering arguably the highest casualty rate per capita of any participant. New Zealand is unique in that the country entered the twentieth century as one of the wealthiest countries in the world in terms of income per capita. On the eve of World War I, per capita income was higher than in the UK and within 3 percent of the United States. It maintained its ranking through the Depression years and WWII. Beginning the 1960s, the GNP began to decline. Today, New Zealand economy is very tightly regulated, protected, and centralized. At the advent of WWII the country was still economically dependent on Britain. Exports were almost entirely farm products (e.g., wool), with the UK providing almost the whole market and at the same time supplying the great majority of manufactured goods and capital. There had been an enormous increase in the national debt as a result of World War I, with Britain as the main creditor. New Zealand emerged from World War II with an expanding and successful agriculture-based economy and worldwide trade markets. At the beginning of World War II, in 1939, New Zealand sent an army division to help with Britain's defense. The Division remained in Europe and the Near East for the entire war. When the Pacific war with Japan broke out in 1941, New Zealand depended on the U.S. for security and was a forward base for the U.S. Navy Pacific fleet. The period 1939 to 1945 was a period of austerity in New Zealand. People remember "the war years were times of identity cards, ration books, and gas masks. Everything was rationed from food to clothing, furniture and petrol." One Women's Voluntary Service (WVS) activity was to collect money to be invested in National Savings War Bonds in order to fund the war effort. New Zealand apparently financed the war effort almost solely though loans in the form of bonds. Some were called Liberty Loan Bonds. Schwan, in his brilliant article in the Bond and Back Note News article of November/December 1987, also cites National Savings Bonds. The article I quote above call them National Savings War Bonds. Posters urged people to buy "Bomber Bonds." Whatever the exact title, they were issued by the postmaster under the provisions of the National Savings Act of 1940. A related item cited in SB is the national savings coupon. These were intended to be used as gifts. They were attached to a gift card with an explanation that the coupon is worth 5 shillings in a national savings investment account. It is interesting that New Zealand called these instruments "bonds," when Australia, Canada, and other Commonwealth Nations used the term; "War Savings Certificates." "Practical men...are usually the slaves of some defunct economist." John Maynard Keynes. =========================================== Editorial/opinion =========================================== At the milataria shop I purchased two partial chit booklets. The one that I cannot find it quite crude, in francs and appears to be from World War I era. The one here is interesting. The cover text is: U.S. Army Officers’ Club A. B. A. 10/-. Of course the text A.B.A. is significant. Figure out what that means and we will understand much more about the booklet. The denomination of the booklet is ten shillings and the chits inside 1, 2, and 3 pence respectively clearly indicate that the chits were used in the UK. The chits have only the denomination and the letters XYZ. I have no idea about the significance of these letters. The back cover has a nice imprint: Wilding & sons Ltd./Army and R. A. F. Printing Specialists/Castle Street Shrewsbury. I look forward to your ideas. =========================================== MAIL CALL =========================================== Dear Gram, Many thanks to Sparky. While it sounds very complicated, Sparky has simplified how to determine position numbers in an extremely simple formula. I haven't tried it out yet but I will when I get through spending the tax payer's money this week. (FAA training course) To follow up briefly on the matching pair. I have discussed with Fred the other known pairs. I believe that I have the only pair of the same denomination thus the same position number. The MPC Database works and I would have never been able to put together this pair without it. Now when I get the next note to make a triplet we will have a big party. The scan of the pair will be available next week for Gramsters to view. Bill McNease Dear Editor, I just finished printed Gram 1039. It is the first Gram that I have printed in a very long time. I printed it so that I could study the great article by Sparky. I look forward to many more. Flight Surgeon Dear Editor, Dare I disagree with you? Start with "money" an all-encompassing term for a medium of exchange. It can apply to the stone money of Yap, POW notes, metal or plastic tokens, $ bills, gold coins - you name it. Within the money there is a class called "currency" which almost by definition is or has been legal tender in the form of coins or notes. However the definition is very blurred for example are Steffen emergency notes currency as they were approved by the Norge Bank. Bafvs and MPC I would suggest were not currency because the had very limited circulation and were specifically designed and regulated not to be currency. Tom W Dear Tom, Dare you disagree? I love it when Gramsters disagree with anything in the Gram, but most of all when they disagree with me! Certainly MPC (and presumably BAFSV) is not legal tender. There is ample testimony before congress to establish this fact and there was some concern about this before MPC was issued. Whether or not the various issues were currency at the place of issue it less clear to me. Certainly, they did not circulate throughout a country, but they did circulate exclusively with a large number of people. If it must circulate widely to be currency, the US $2 FRN might not be currency, but it certainly is legal tender. I was struggling to find examples of things that were/are currency but are not legal tender. Before the Civil War in the US, all paper money was not legal tender, but you still might argue that neither were these issues currency since most did not circulate widely. I consulted the Hessler Comprehensive Catalog of US Paper Money and confirmed Various well-known US paper money issues were not legal tender: demand notes, interest bearing Treasury notes and others. I could not confirm if national bank notes were legal tender. I believe (but am not sure and could not verify in either direction) that one cent coins are legal tender only up to one dollar. A very nice discussion in the Cadillac Modern Encyclopedia discusses the matter. It specifically states that currency in the United States includes coins, paper money and checks. Now how about that for a new wrinkle. Is this enough to start some more discussion? Editor =========================================== CALENDAR OF EVENTS =========================================== PCDA National and World Paper Money Convention. November 19-23, 2003. St. Louis Hilton Airport Hotel, 10330 Natural Bridge Road, St. Louis, MO 63134. Lyn Knight auction, consignment deadline September 30, 2003 2004 CPMX February 26-28, Lyn Knight auction. Consignment deadline January 10, 2004. March 5-7, MPCFest V, reservations now being accepted. Reservations entered in order received: Roger Urce#$$, John Cheney#$, David Seelye, Harold Kroll, Gail Baker#, Leo May$$$, Kevin Neidy, Cuneyd Tolek, Warner Talso, Cameron Bueschel, Wendell Wolka, John V. Craig#, John Cheney#, Steve Swoish, Joe Bissell#, Sparky Watson, Nick Schrier, Loretta Freyser, Dick Freyser, Ron Waddell, Robert Drew, Ed Arrich#, Neil Shafer#, Dan Freeland#, Bill McNease, Doug Bell, Bob Olson($$), Fred Schwan. # new Fester, $ paid. $$ paid single (˘˘ unpaid single) occupancy. Running totals: total 28, new festers 9. Standard rate $148, single occupancy $198, payments may be made by mailing paper instruments of any kind to BNR Press (or MPCFest or even Fred Schwan) at 132 E. Second St., Port Clinton, OH 43452. Payments may also be sent via PayPal ( fredschawan@yahoo.com). Once you have sent your payment, monitor the above list to ensure that it has been received and posted). Show n tell: Gail Baker (education@money.org) Travel coordination: Sparky Watson (mcwatson@yahoo.com) Auction items: Larry Smulczenski (skifla@prodigy.net) Exhibits: Joe Boling (joeboling@aol.com ) The Portland, Oregon, ANA is March 26-28 and it is sponsored by the Willamette Coin Club with Larry Gaye as the show chairman. Howard Sarg Daniel will be manning a NI/NBS/IBNS club table at this show, and moderating meetings for NI and IBNS. As always, Gramsters are welcome at the NI and IBNS meetings and at the club table. Masstricht April 23-25, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands 2005 date tba, MPCFest VI, reservations now being accepted. Reservations entered in order received: John Cheney$, Danny Bingham$, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 3, new festers 1. ======================================== 2004 scholarship fund Donations of cash and numismatic material will be gladly accepted. Generally the numismatic material is auctioned at MPCFest, but might be sold via ebay or other places. Your scholarship donations help the hobby by sending qualified individuals to the ANA summer seminar military money class. Except for unavoidable charges like ebay fees, 100% of your donation goes to scholarships. Al Glaser RA Medina Warner Talso David Seelye Russ Walsh Joe Boling Harold Kroll Pam West Ed Hoffman Ron Wadell Wes Hardy Dick Freyser Robert Drew Brett Irick Kevin Neidy Brian Giese John & Nancy Wilson John Cheney Neil Schafer Joel Shafer Arlen Sheldon 2003 Scholarship Donors Ed Hoffman - RA Medina - Dick Freyser -Larry Smulczenski - David Seelye - Howard Daniel - Steve Feller - Warner Talso - Pam West - Mr. 691 - Leo May - John & Nancy Wilson - Max Spiegel - Gail Baker - Chris Connell - Bill Haines - Joel Shafer - Mikhail (Misha) Istomin - Gary Hicks - Robert Drew - Tom Warburton - Larry Lee - Fred Schwan - Mark Watson - Harold Kroll - Ian Marshall - Marcus Turner - Neil Shafer - Keith & Sue Bauman Contact me at: "Marcus Turner" mail to: maturner@indy.rr.com Checks should be made out to the "Military Numismatists Scholarship." or Marcus Turner 8103 East US Highway 36 Suite 163 Avon, Indiana 46123 USA IMPORTANT SCHOLARSHIP INFORMATION Additional information can be found at the link below. We encourage everyone to print copies of this information and distribute it to those who might be interested. Further you are encouraged to e-mail the pdf document to anyone you see fit. Thank you http://www.papermoneyworld.net/news/Military Numismatists Scholarship Fund 2003.pdf Marcus Turner Scholarships from the ANA: See the following location for an application for financial aid to the summer seminar: http://www.money.org/sumsemfin.html =========================================== MPC ANA Museum Project =========================================== ANA collection of MPC: Thanks to donations from Douglas Bell, Dick Fryser, Ed Beaman, Bruce Peacock, David Seelye, Michael Cummings, Ray Czahor, David Pitchford and Mr 691the ANA MPC collection is current as follows: Series 100 - [50 sen], [1Y, 5Y, 10Y, 20Y all A underprint] Series 461 - 5, [10] cents, [$1] Series 471 - [5, 10, 25, 50 cents, $10] Series 472 - [5, 10 cents], [$1, $10] Series 481 - 5 cents, [10, 25 cents], 50 cents, $1, [$5] $10 Series 521 - 5, 10, 25, 50 cents, [$10] Series 541 - 5, 10, 25 cents Series 591 - [5, 10, 25, 50 cents, $1] Series 611 - [5, 10, 25 cents, $1] Series 641 - 5, 10, 25, 50 cents, $1, $5, $10 Series 651 - [$1] Series 661 - [10, 25, 50c], [$5], [$1, $5] $10 Series 681 - 5, 10, 25, 50 cents, $1, [$5], [$20] Series 691 - [$1, $5, $10, $20] Series 692 - 5, 10, 25, 50 cents, $1 Series 701 - [$1, $5, $10, $20] [50c etc.] = notes donated by Gramsters --Chris Connell =========================================== RESEARCH =========================================== New modification to the database you can now retrieve your password if you have forgotten at the main logon screen. Keep in mind syntax is important. The mpc database has changed its name it now going to be referred as, WW II P a p e r M o n e y D a t a B a s e This is just a hint of things to come If you are having trouble logging on please inform Doug Bell At doug@papermoneyworld.net Papermoneyworld maintains an innovative interactive data base of all military payment certificates. Everyone is invited to enter notes in their possession or that they have observed. Visit the site at: http://www.papermoneyworld.net/user/default.asp this project is financially supported by David Seelye http://www.thempcman.net/ , mailto: coinman@rochester.rr.com =========================================== Subscription information: =========================================== You can enter an email address to receive the gram by using the link below. Use this to change your address (add the new one), add a friend or enemy. http://www.papermoneyworld.net/WebMailList/Default.asp ========================================= HOT CONTACT LIST - DEALER & RESOURCE LIST Below is the BNR Press Hot Contact List. This list serves several functions. Obviously it is an outreach by the dealers listed for your business. Most of them buy and sell MPC. Others organize shows or publish periodicals, or furnish information dedicated to this field. They have supported the new Comprehensive Catalog of Military Payment Certificates with their advertising. They deserve your support and patronage! Name phone fax / cell email Allens (614) 882-3937 (614) 882-0662 info@allens.com American Coins & Collectibles (800) 865-3562 American Numismatic Ass'n (800) 367-9723 ana@money.org Guy Araby (562) 945-7891(310) 508-0018 guyaraby@earthlink.net Bob Baker(713) 864-3122 Ken Barr (408) 272-3247 ken@kenbarr.com Fred Bart (810) 979-3400 Dick Balbaton (508) 699-2266 (508) 643-1154 RBalbaton@aol.com Keith and Suzanne Bauman (248) 647 8938 tnaksbauman@earthlink.net Joe Bissell (602) 440-0442 (602) 494-9103 BNR Press (419) 732-6683 (419) 732-6683 fredschwan@yahoo.com Remy Bourne (800) 789-7070 (763) 789-4747 Ed Carne (614) 882-3937 (614) 882-0662 info@allens.com Champion Stamp (212) 489-8130 (212) 581-8130 Cookie Jar Collectibles (301) 604-9225 cjcpi@comcast.net Guido Crapanzano [39] 2-8056228 [39] 2-4459856 Currency Dealer Newsletter (310) 515-7369 David F. Cieniewicz (205) 852-7015 CGC (602) 493-4758 (602) 494-9103 sales@gradedcurrency.com Mike Cummings (863) 603-9899 (863) 603-9880 mpccoin@hotmail.com Cygnet Charters (419) 734-2422 Ray Czahor (301) 604-9225 cjcpi@comcast.net Denlys of Boston (617) 482-8477 denlys@aol.com Doric Coins & Currency (508) 699-2266 (508) 643-1154 FUN (407) 321-8747 Great Lakes Bank Note Company (419) 732-6683 IBNS joeboling@aol.com Essie Kashani (909) 627-3996 (909) 627-2776 kashani10@aol.com Lowel Horwdel (765) 583-2748 (765) 583-4584 horwdel@inshightbb.com Lyn Knight (800) 243-5211 Krause Publications (715) 445-2214 bnr@krause.com Harold Kroll(251) 649-5134 HARBONS@aol.com Leo May (305) 720-0659 LeoMayEnt@aol.com Ian Marshall (416) 445-0286 (416) 445-0286 iam@total.net Memphis Coin Club (901) 757-2515 MPCGram (419) 732-6683 MPCGram@yahoo.com Pomexport Ltd. 1-201-641-6641 / Fax: 1-201-641-1700 E-Mail: Info@pomexport.com // website: http://www.Pomexport.com Bob Reed(504) 361-5684 bobreed@rrcoins.net Fred Schwan (419) 732-6683 (419) 732-6683 FredSchwan@yahoo.com David Seelye (585) 594-1987 (585) 594-2311 coinman@rochester.rr.com Richie Self (318) 868-9077 R. M. Smythe (800) 622-1880 (212) 908-4047 www.smytheonline.com Mel Steinberg & Son (415) 897-1654 (voice and fax) melsteinberg@mindspring.com Military Trader (800) 334-7165 Scott Winslow Associates (603)472-7040 (603) 472-8773 scott@scottwinslow.com George Warner(307) 672-3700 Pam West [44] 0208 641 3224[44] 0208 641 3224 pamwestbritnotes@compuserve.com ======================================= POST / BASE EXCHANGE(PX/BX/NEX) Dump your dupes! Your classified advertisement for items for sale, purchase or trade will be run here for free. Send your ads to the gram. This service is for everyone, most humble dealer or most advanced collector. The point is to make the gram more interesting. In all cases confirm your order via email first. FOR SALE Dear Editor, While rummaging through some boxes I had packed away, I came across a pack of Series 641 $.05 notes, with original wrapper though a little dirty and torn on the crease, SN 08902101J thru 08902200J, position number 21. The notes are still crisp but not Gem and using your catalog as a guide, I am asking $400.00 for the pack. Any questions can be directed to me at Hunchkie66@yahoo.com. Thanks and keep up the good work on the Gram. Paul WANTED SECTION: Collectors may submit lists of items wanted for their collections for listing here. Dealers and collectors who have these items, are then encouraged to list them for sale in the above section as a reply. Wanted listings will run for a period of 1 month. WANTED 01; =========================================== MPC Gram Staff: Publisher, editor: Fred Schwan - MPCGram@yahoo.com Subscription Manager:Doug Bell- doug@papermoneyworld.net Tuesday Columnist : JoeBoling- JoeBoling@aol.com Friday Columnist: Warner Talso: wtalso@aol.com Fest Auctioneer: Larry "Ski"Smulczenski - skifla@prodigy.net Critic:Harold Kroll - HARBONS@aol.com Scholarship Coordinator: Marcus Turner- maturner@indy.rr.com Webmaster & Technical Advisors:Doug Bell "Wiz" - doug@papermoneyworld.net Russ Walsh - russ.walsh@gte.net Fact Checker: Warner Talso -Calendar Coordinator: John & Nancy Wilson -The Boss: Judy Schwan ===== MPC Gram is published by BNR Press and papermoneyworld.com as a free service to the community of military money collectors. Your suggestions, criticisms, complaints, editorial contributions, letters, and even praise are very welcome. The entire contents including linked illustrations are copyright protected by the publishers. In the case of contributors, the copyright is protected on behalf of the creators. Please send all correspondence regarding the gram to MPCgram@yahoo.com. Thank you very much for your participation. __________________________________ Do you Yahoo!? Exclusive Video Premiere - Britney Spears http://launch.yahoo.com/promos/britneyspears/