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MPC GRAM

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Series 8, no 1562 Friday July 20, 2007

WWII US Emergency Issues

by Jim Downey

Most military paper money collectors are familiar with the North Africa and Hawaii notes that were printed during WWII. The North Africa notes are Federal Reserve Notes and Silver Certificates with yellow seals; the Hawaii notes have brown seals and were overprinted on face and back with the word Hawaii. The purpose of these notes was to create a currency that would be used in the areas of conflict that could be segregated from the domestic US currency in case it should fall into the hands of the enemy.

Information from the Bureau of Engraving suggests the United States may have issued an emergency currency in the continental United States.

A Bureau report from 1946 indicates that in fiscal year 1943 (July 1, 1942-June 30, 1943) $450,800,000.00 in Federal Reserve Bank Notes was delivered to the Federal Reserve for circulation. Federal Reserve Bank Notes (FRBN) are different from Federal Reserve Notes (FRN). FRBN were first issued as large size notes in 1914. The small size FRBN were printed in 1933 and 1934. These were printed and issued as a result of the Bank Holiday of 1933. The Federal Reserve needed to get currency into the banking system quickly. FRBN were printed on unfinished stock of sheets for National Currency Notes and are titled "National Currency" at the top.

They have brown seals like Nationals but carry the identification of the Federal Reserve Banks and signatures of officers of the branches of the Federal Reserve Banks.

The FRBN notes that were released in 1943 were notes that had been printed for the 1933 banking emergency but were unissued during this time because the crisis passed and these notes were excess. They remained at the BEP awaiting further order for their disposition.

The BEP documents indicate that these notes were delivered to the Federal Reserve because of the urgent need for new currency and to conserve labor and materials. This suggests that they would not have been otherwise issued except for the exigency of the wartime circumstances.

This information on these notes is only now coming to light. At this point it is unknown whether there are records of the serial numbers for the FRBN that were issued in 1943. It is very probable that these records exist. If so, it would be possible to distinguish between the notes issued for the 1933 banking crisis and those issued because of the wartime necessity.

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Championship Question Corner

Question 209. Difficulty 1. What German city is known to have had a US barter store during the WWII occupation period?

Previous Question Question 208. Difficulty 2. Who was the manager of the Frankfurt Barter store?

Answers and comments: Bill Myers from Iraq correctly answered that the Robert D. Branigan was manager of the Franksfurt Barter Store.

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Editorial

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Jim Downey's article on the WWII emergency use of FRBNs is great. It is something of a redundancy to say that about something by Jim. Nonetheless, it is true and should be said. I have a little something to add (that is probably not much of a surprise either).

I knew about this issue of FRBNs. That may or may not be a surprise. What I think is surprising (or at least interesting) is how I knew about it.

For many years the Treasury issued a pamphlet titled Know Your Money (or something VERY close). It is possible that this same pamphlet is still published.

Anyway, I collect these pamphlets for the war years (no surprise there I am sure). I became interested when I learned that the 1943 (or was it 1942) version included HAWAII notes. I thought that that was wonderful, important, and even interesting so I started looking for all of the war years pamphlets. In doing that I found mention of the FRBN use described by Jim. Researching it further was on my (growing) list of things to do. Thank you, Jim, for doing it for me!

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Mail Call (send mail to MPCGram@yahoo.com) ========================================

Dear Gram,

Great question Joe!! (regarding the new format of the Gram)

Mr. Doric

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Calendar

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2007

ANA World's Fair of Money August 8-12, 2007 The 5th annual Philippine Collectors Forum(PCF) meeting will be held during the ANA World's Fair of Money August 8-12, 2007 at the Milwaukee, WI Midwest Airlines Convention Center. The PCF is on the ANA agenda to meet on Friday, August 10th, at 1:30PM for 4 hours. We plan to show David Lange's outstanding presentation he gave back in 1993 on US Coinage for the Philippines. David Provost will talk on "Laura Gardin Fraser and the 1947 MacArthur Commemoratives.

The PCF will also man a club table and need collectors to man it. If you are attending, please let me know.l This is a fun activity as you get to meet lots of collectors and hand give-aways to the young

collectors. I will have a locked case available for

displaying interesting Philippine Numismatic items.

2008

MPC Fest IX, Feb 29-Mar 2. Holiday Inn Express, Port Clinton, Ohio 43452 ==========================================

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.