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MPC GRAM
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Series 8, no 1558 Wednesday June 27, 2007
They all circulated
by Jim Downey
This is in response to the discussion between
Sam Spiegel and Joe Boling regarding the
Philippine peso.
I wrote an article for Bank Note Reporter
which discussed the use of JIM and the
Commonwealth peso.
The article covered the post-war treatment of
JIM and the legal status of the same for debts
paid during the war. It appeared in the January
2004 issue of BNR.
Contrary to popular belief, the Japanese did
not prohibit the circulation of the Commonwealth
peso.
General Homma's edict of January 12, 1942
declared the JIM peso as legal tender beside the
existing Commonwealth peso. It prohibited a
number of other currencies from circulating but
amazingly also permitted the US dollar to
continue to circulate at the pre-war exchange of
$1.00 to P1.00.
There is a reason that the War Department
ordered
1936 and 1941 series pesos during the war.
These were used in the Philippines late in the
war to pay for requisitions and to pay
operatives in the Philippines.
Initially, counterfeit JIM was used for that
purpose.
The Japanese also fixed the exchange of the
peso to the yen as 1 to 1. This was consistent
with the official exchange rates for all of the
areas JIM was issued. This meant that the
official exchange of the yen to the dollar in
the Philippines was 2 yen to the dollar. This
grossly exaggerated the value of the yen.
As a practical matter, Gresham's Law took
over and the bad money (JIM) circulated while
the good money (Commonwealth pesos and US
dollars) were hoarded.
The JIM peso and the pre-war Commonwealth
peso were declared invalid when the Victory
Series peso was introduced.
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Championship Question Corner
Question 205. Difficulty 2. At what
concentration camp were Operation Bernhard notes
printed?
Previous Question: Question 204. Difficulty
1. What contractor in the United States printed
supplemental francs?
Answers and comments: Bill Myers correctly
answered Forbes Lithograph.
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Editorial
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Every day at the summer seminar is exhausting
and it was a short day for us. This evening was
the YN auction. It is a real hoot, but I try to
stay out of the room--it can be expensive, but
of course it is for a good cause.
Sharon Thomas was in the picture again. She
seemed a little shy at first. Really, I am sure
that she was thinking these people are really
crazy.
Tomorrow evening is the closing ceremony and
banquet. I hope to be able to conclude some
conversations that started in the mess hall
before week two starts.
I was looking for the students from the
MPCBoot Camp tonight, but could not find
them.
I got to thinking about the collective
feedback that they had given men about the MPC
classes.
Overwhelminginly they said that there is much
more to MPC collecting than they had ever
imagined. While I agree with that, and they were
being positive with there comments (I think), I
thought of the response that I should have made
at the time. Yes, MPC collecting can be
intriquite and involved, it is also fascinating
and endlessly fun. However, you can also just
decide to fill in a collection and pay little
attention to multies, replacements, specimens,
checks, coupons, errors and other issues. I
guess it might be hard to overlook these things,
but, like I said, you can just fill in a want
list. There is nothing wrong with that. We are
all entitled to pursue our own collections.
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Mail Call (send mail to MPCGram@yahoo.com)
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Dear Gram,
Your new format for the MPCgram is nothing
but garbage. If you can not improve it then I
ask you to stop sending it to me.
RAZ
Dear Gram,
I love the new format.
CTolek
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Calendar
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2007
ANA Summer seminar
Session I: June 24-29, 2007*
Session II: June 30-July 6, 2007
Donations for 2008 scholarship fund are being
accepted. Contact Dan Freeland at
ksfdaf@sbcglobal.net or call him at
989-843-5247.
Memphis 6-8 July
ANA Convention, Milwaukee.
2008
MPC Fest IX, Feb 29-Mar 2. Holiday Inn
Express, Port Clinton, Ohio 43452
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for dealer Hot Contact list, ANA MPC museum
holdings and other static information please
click this link:
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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.
WANTED - JAPANESE INVASION MONEY (JIM).
Collector/researcher of these notes by zone,
type, and block letter, or number will buy or
trade. Checklist available, Anythinfg
unusual is of particular interest. Mike Payton,
6609 Craig, Merriam, KS. USA 66202,
papermoneymike@yahoo.com
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.
Germany
Buchenwald
nd 50 Pfennig C.3951b, F&F GE-140b UNC
200.00
nd 2 Marks C.3953a, F&F GE-142a UNC
250.00
nd 2 Marks C.3953b, F&F GE-142b UNC
250.00
nd 3 Marks C.3954a, F&F GE-143a UNC
300.00
nd 3 Marks C.3954b, F&F GE-143b UNC
300.00
Insured Postpaid David E. Seelye, P.O. Box
356; North Chili, NY 14514
Silent Witnesses: Civilian Camp Money of WWII
by Ray and Steve Feller. 166 pages, large
format, soft cover in FULL COLOR only $35 (plus
$4 per ORDER) shipping.
Send you order to the Gram and we will send
your book with an invoice or send your order via
snail mail to BNR Press, 132 E. Second St., Port
Clinton, OH 43452.
Fest quarters (also known as Fest casino
tokens, Fest quarters, and harolds are available
to Gramsters.
These quarters are ideal give aways to
promote the hobby. Additionally, they will be
valid for spending at all Fests. 2007 harolds
can be purchsed in rolls at
$6.25 per roll (face value (we knew that you
would love this roll value!). Rolls are
original, unsorted or searched just the way that
they came from the Great Lakes Mint. As a
courtesy we will also send four harolds for a
dollar bill and a self addressed stamped
envelope. Send your orders to MPCFest
Headquarters,
132 E. Second St., Port Clinton, Ohio
43452.
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MPCGram Staff:
Publisher, editor: Fred Schwan
fred@papermoneyworld.net; Subscription
Manager:Doug
Bell- doug@papermoneyworld.net
Tuesday Columnist : JoeBoling-
JoeBoling@aol.com Friday Columnist: Warner
Talso: wtalso@aol.com Fest
Auctioneer: Larry
Columnist at large: Jim Downey
Fest auctioneer "Ski"Smulczenski -
skitex@cox.net Critic:Harold Kroll -
HARBONS@aol.com Scholarship Coordinator: Dan and
Kathy Freeland ksfdaf@sbcglobal.net Webmaster
and Technical Advisors:Doug Bell "Wiz" -
doug@papermoneyworld.net Fact Checker: Warner
Talso -Calendar Coordinator: John and 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.
____________________________________________________________________________________
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