From: "MPCgram" To: Subject: gram newsletter 1064 Date: Friday, December 05, 2003 7:29 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 005 - Number 1064 Friday December 6, 2003 Financing War By Warner Talso I thoroughly enjoyed Max Spiegel's article in Gram #1063 on December 3rd. Analytical comparisons such as he did are of great interest to me and, as you may recall, the type of thing I promised when I began this column. That said, I would like to make a few comments regarding Max's article. Max clearly points out the inflationary spiral in the Weimar Republic after WWI caused by the onerous Reparationsforderungen of the wining powers. I also observe that the rest of the world, led by the U.S.A., was entering the Depression and this aggravated the problems of Germany. Further, although Germany was no longer at war, these were similar conditions that leaders of belligerents during WWII feared. Control of inflation is a significant reason for the economic mechanisms we have discussed previously: strict wage and price control (more strict in Russia and Germany, less so in Great Britain and others); war bonds to take money out of circulation (the best examples may be the U.S.A. and Japan); and rationing (practiced by all). Max notes that "the German government did a complete overhaul of its currency, introducing the retenmark" (November 15, 1923). Why was this successful? After all the new currency was not redeemable in anything of value. Its backing by real estate was a fiction since there was no way this real property could be foreclosed or distributed. The answer was - confidence. First, the government announced that the new currency would be Wertbestandig - stable in value. The people desperately wanted to believe this. Second, and most important, the government strictly limited the amount of rentenmarks which could be printed and issued. Finally, after April 1924, the government stopped the expansion of credit to businesses which had been stimulating inflation. I see threads of these conditions in Max's analysis of the Iraq situation. As an aside, postwar Hungary suffered the worst documented hyperinflation in history. (Between August 1945 and July 1946 the general level of prices rose at the astounding rate of over 19,000 percent per month, or 19 percent per day.) By the end of WWII Hungary was a totally destroyed and indebted nation. The Allied Forces bombed Hungary when they were allied with Germany, and what was not destroyed by the Allies, was destroyed by the Germans after Hungary switched sides and the Germans were driven back by the Russians. The Hungarian gold reserves had been stolen by the Hungarian Nazis and taken to Germany. The consequences, if not the events themselves, sound very familiar, don't they? Further in the "Russification" of Hungary, the Russian Army sent specially trained, fanatic Marxists, who were particularly educated in national economics, as well as pacification of anyone they considered or identified as enemies of the Soviet system. Their first goal was to ruin the middle and upper classes, and they achieved this by constant printing of banknotes, so that money lost its value. Little by little the population had to sell all their possessions in order to have enough money to pay for the absolute basics for survival. This hyperinflation was ended by price controls and the introduction of a new currency - actually the introduction of income tax payment certificates called "Adópengö" to be used as currency. But, that is another story. =========================================== Editorial/opinion =========================================== Do you remember my shoe story from Sunday? It is hard for me to forget because every day I am receiving about 50 messages that copies of this Gram have not been delivered. Typically, when a Gram goes out, we receive about 20 bounces. Changed addresses, overfull mail boxes, vacations. There are many reasons. This problem is all new. After five days getting 50 messages. What is going on. I have investigated a little. The notices all seem to relate to two addresses! Both are from a gte ISP, but beyond that I do not have a clue. Any ideas? =========================================== MAIL CALL =========================================== Dear Editor, As of 1700 5 December, I have recieved no Grams since Number 1063 Wednesday December 3, 2003. Have you gotten your Christmas shopping done yet? If so, I expect a Gram soon. Since I know that must be why I have not received any issues lately, I will not deduct from my subscription check this time You can expect full payment, but do not let it happen too often.. Bill M. Dear Editor, In An Attempt to Clear It Up, And In Response To Comments Made. Lee "little Lee" Smith & Jack Hunter, Grams #1061, #1062 & #1063. I Want To Know, How To Get A Want List Posted In The Gram.......??? Not Once, In The Letters To The Editor.....But As Stated, For One Month In The "WANTED SECTION"?? Many Of Us Have Tried In The Past.......But It Never Seems To Get In There. Is There A Monetary Amount Involved...?? Is It Only For The Favored Few...?? Buy The Way........"Wanted #01," Has Run For Allot Longer Than 30 Grams....(yes, i counted 'em). You Could Clear This Up For Us That, "Collect On A Budget". If It Is Too Much Work....Just Say So....!!! As A Community, We Could Satisfy A Bunch Of Want Lists.......!! Don't Sugar Coat This......Give Us The Requirements. Total Respect, Ed Beaman Dear Ed, Thank you very much (really) for your inquiries. They give me the opportunity to explain, comment on, defend, announce, and/or otherwise discuss several editorial policies. I expect that this response will overflow into editorials for the next few days! The overriding consideration is that I view the Gram, papermoneyworld.net, and the Fest as interrelated enterprises (?) the goal of which is to promote the military numismatics hobby. Perhaps the military money seminar should also be included on the list. Today I will deal with the specific inquiry about want lists. From the beginning many of us (myself included) would like to run want lists in the Gram, but there are several problems with this. If we run free (or possibly even paid) want lists we could have four hundreds ads like this: Wanted replacements, key notes, super grades. Will pay the highest prices. Such ads do not accomplish much. Sure we could require greater specificity but the end result would be the same. I will come back to the wanted ads in a few moments. For sale ads on the other hand enhance the Gram because they make it (the Gram) more interesting to everyone because everyone is looking for things to buy. Also, for sale ads must be more specific because they must list specific items for sale. Now back to want lists. If we allow want lists with identification of the buyer (email, phone, postal address), sellers can/will contact the buyer. What is in it for the Gram? In fact the Gram is hurt because potential sales items are diverted to direct sales. Yes, we could charge for such ads. What would be an appropriate approach? Things change if we start to think of the Gram in financial terms. Approximately 1060 Grams have been issued. Income from the Gram has been exactly zero dollars. I estimate that the charge would be something like a dollar a day with a year minimum, $300 per year. Collectors would scream about my personal greed and would not participate. Possibly a dealer or two would take the generic buy ad at that price. This does not seem like a good approach. Let us look at the exceptions that you mention. Yes, your overpaid editor makes judgment calls—frequently. Hence the big bucks. The recent fellow who has started collecting position 21 did get a notice in the Gram. That seemed to me to be a newsworthy item on several counts. It is useful for people to know that someone is collecting 21 and there is a message there that people can start collecting by position number. I am not even certain about the other one that you mention. I think that it was for Fest notes. Again, I felt (feel) that there was a newsworthy aspect to this notice. The thirty-day limit was in anticipation of great participation. Because of the low participation, it has not been necessary to pay much attention to this. It is certainly possible that we will eventually try to get some income from the Gram. I am considering doubling subscription prices starting the first of the year. Possibly, I should announce now that at your urging we will charge 200% starting Jan first. In fact a few people have suggested that we charge for subscriptions. I cannot imagine that every happening, but Can imagine charging for advertising. The most likely prospect is banner advertising. Possibly every section could have a sponsor. We have thought about this many times. When we experimented having the Gram in html instead of straight text, we thought that such banners were a distinct possibility. Thus far, on balance, we have decided against commercial attempts. An interesting twist on this is that the low subscription and other service charges provide a nice cover for criticism. I sincerely welcome your additional thoughts and anticipate discussing more issues along this line in the editorial section in the next few days. Editor =========================================== CALENDAR OF EVENTS =========================================== 2004 Jan 6 Advertising deadline for Bank Note Reporter MPC special issue. Contact roloffm@krause.com and for editorial kranzd@krause.com. Jan 8-10 FUN, Orlando, Florida. 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. $$ paid single (¢¢ unpaid single) occupancy. Running totals: total 28, new festers 9. Standard rate $148, single occupancy $198, payments may be made by mailing paper instruments of any kind to BNR Press (or MPCFest or even Fred Schwan) at 132 E. Second St., Port Clinton, OH 43452. Payments may also be sent via PayPal (fredschawan@yahoo.com). Once you have sent your payment, monitor the above list to ensure that it has been received and posted). Show n tell: Gail Baker (education@money.org) Travel coordination: Sparky Watson (mcwatson@yahoo.com) Auction items: Larry Smulczenski (skifla@prodigy.net) Exhibits: Joe Boling (joeboling@aol.com ): bourse David Seelye coinman@rochester.rr.com March 26-28. The Portland, Oregon, ANA is sponsored by the Willamette Coin Club with Larry Gaye as the show chairman. Howard Sarg Daniel will be manning a NI/NBS/IBNS club table at this show, and moderating meetings for NI and IBNS. As always, Gramsters are welcome at the NI and IBNS meetings and at the club table. Masstricht April 23-25, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands June 11-13 Memphis Paper Money Show, Memphis, TN. Nov 18-21 Pcda Convention, St. Louis, Mo. 2005 date tba, MPCFest VI, reservations now being accepted. Reservations entered in order received: John Cheney$, Danny Bingham$, Fred Schwan. # new Fester, $ paid. $$ 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. 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!? Free Pop-Up Blocker - Get it now http://companion.yahoo.com/