From: "MPCgram" To: Subject: MPCGram 980 Date: Friday, August 01, 2003 8:14 AM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 980 Friday August 1, 2003 Financing War By Warner Talso Looking for some long-term organization to this column, I have decided to discuss financial strategy in terms of the chronology of relatively recent history. For no particular reason other than that it is interesting, let's start with the U.S. Civil War (1861-1865). This was the bloodiest and most expensive war in the history of the United States. The financial aspects of the war were anticipated prior to the outbreak of war, as southern banks began withdrawing their deposits in New York banks, demanding payment in specie, immediately upon news of Lincoln's election to the presidency in November 1860. Thereafter the outcome of the war was very much in doubt. The North was twice the size of the South in total population and much larger than that in terms of industrial production. But the North had a constitutionally weak system of taxes and no central bank. The North feared it would not be able to finance an effective long-term campaign. The South, by contrast, was confident that its staple crop of cotton would provide both the justifications for foreign finance and possibly foreign military intervention on its side. Both views proved very wrong in the end, but at the outset the fears of the North and the hopes of the South were not unrealistic. In the North, cost of mobilization increased enormously while revenues, mainly from customs revenues and land sales, fell sharply. Secretary of the Treasury Salmon P. Chase was responsible for the Union's various experiments in war finance (until Lincoln surprised him in 1864 by accepting his threat of resignation). Chase seemed to do everything wrong according to both economists and historians. But we know he gave us the concept of War/Savings bonds as we know it today and that is significant. Anyway, Chase is criticized for various unsuccessful efforts to sell long term debt on the New York market at unrealistically high prices until inflation and military success made his prices reasonable by 1863. The strategy seemed to be to issue currency in large amounts and then encourage people to hold it. Spending it would speed up the rate of inflation. A lasting result was a central government long-term debt widely held across the country and National Banking System -- although this did not become effective until after the war. [Jay Cooke was the architect of the Union bond system. He is known as the financer of the Civil War (well, at least of the Union Civil War). The point of this is that Cooke was born (1821) in Sandusky, Ohio. Sandusky is twelve miles from Fest headquarters. If you are a Civil War buff, you can visit Cooke?s home in Sandusky. Cook wrote a autobiography which includes many numismatic references. Among them he describes his job as a clerk in Sandusky. Part of his job was examining the variety of notes that came in and determining their value by using the bank note reporters of the time. ?Ed] Report 2 from ANA/Baltimore By Joe Boling At the Numismatic Literary Guild bash this Thursday evening, Bill Fivaz received the Clemmy, the NLG's highest award for sustained achievement. Larry Smulczenski arrived Thursday, and was seen sharing the duties at the IBNS/NI/NBS table with Howard Daniel. Tomorrow is the Philippine symposium and first minifest of this convention. Old news, but still creating quite a buzz on the floor, is the appearance Tuesday evening of the fifth 1913 Liberty head nickel, seen with the other four specimens on Wednesday morning when the show opened. Long considered lost, the mysterious fifth nickel (the Walcott specimen) has been in the possession of the Walcott family for many years, but they believed that they had an altered date example of the elusive coin. Go to www.coinworld.com for the full story; Coin World editor Beth Deisher was instrumental in having the coin brought to the convention for authentication and a reunion with its sisters. =========================================== Editorial/opinion =========================================== On Tuesday Yahoo started sending me reminders per its calendar system for ANA convention events. The bad news is that that is throwing salt into the wounds. The good news is that it made me think about this calendar system. I think that it is great, but I have not heard much from you about it. http://calendar.yahoo.com/mpcgram Doug Bell was correct about the need for a coordinator for serial number harvesting. No one has come forward that I know of. If you do not want to volunteer yourself, do you have an idea of the idea person? =========================================== MAIL CALL =========================================== letters/submissions for Gram 1000 special double issue should be sent to MPCGram1000@yahoo.com Dear Gram, I also received a bonus from my home state of NH after I returned from VN. I do not remember the amount but it seems it was maybe $200. I remember thinking it was not very much. I am leaving to go back to NH and Maine for my son's wedding, so I will try to do some research on the NH bonus. I will also be visiting the ANA convention so will write about my experience there, since the editor needs some help with reporting on the ANA convention. Robert Dear Esteeemed Editor, David Klinger's letter about the VC needing MPC was interesting, but only partially true. The VC did have their people funnel MPCs through our deserters in Viet Nam. I seem to remember there were about 400-600 deserters in various parts of the country (mostly big cities and mostly Saigon) at the height of the war at any one time. A big part of their income to survive was getting MPCs from their "friends" and then going to the PX/BX with stolen valid ID cards and ration cards to buy particular goods for them, like alcohol that ended up in VC/NVA medical units. No weapons because they used their own stuff. The weapons came down the Ho Chi Minh Trail (HCMT) and most other supplies, plus a good then bad then good again flow through Cambodian ports and then up to near the Vietnamese border at the end of the HCMT. The rule for the VC/NVA from Hanoi was that they would only spend RVN Dong in South Viet Nam. This originated back in 1959 when they wanted the world to believe only the Southerners were fighting the war and with no northern money around, this was one way to back up their claim. The money flow started with the very highest of the ranking RVN civilians and military taking suitcases of their Dong to Hong Kong. Money changers there converted the money at huge discounts into US$, Swiss Francs, British Pounds, etc. that were then transferred to bank accounts around the world. The money changers then sold the RVN Dong to agents for North Viet Nam for Russian and Red Chinese currencies, which were then converted to other currencies. Chinese couriers then brought the RVN Dong back into the South and it was held in their bank branches in Cholon (Saigon suburb) until it was asked for by the VC/NVA. It was usually about 1.5 million US$ in Dong that was transferred to the VC/NVA almost every week via old ladies and men couriers who carried it in their clothes into Cambodia and turned it over to the highest NVA headquarters (COSVN) finance unit. The RVN Dong was then used by the VC/NVA to buy supplies and/or food and other necessities on the South Vietnamese markets and to pay for activities against us and the RVN military/civilians. We (our guys) broke up the flow every once in awhile but there were too many "allies" and others involved so it kept coming back into operation as soon as one part of it was shut down. Do not ever mention that I wrote the above to anyone otherwise I have to kill you and anyone else who has read it. Well, maybe not everyone, but just those on my "list." The Master Sergeant Daniel =========================================== CALENDAR OF EVENTS =========================================== http://calendar.yahoo.com/mpcgram American Numismatic Association Convention. Philippine Collectors Forum that Ray Czahor is putting together on Friday Aug.1 at 1 P.M. in Room 317 of the convention center in Baltimore at the ANA convention. MiniFests: On Friday, August 1 at 1300 hours (AKA 1:00 PM) there is a meeting of 'Philippine Collectors Forum' in room 317, The Mini Fest will take place there following their meeting. On Saturday, August 2 at 1100 hours (AKA 11:00 AM) the IBNS will hold their General Meeting in room 317. The Mini Fest will take place there following their meeting. The times and rooms for these meeting were taken from the convention schedule found on the ANA Internet site www.money.org. Don't forget your Pay Books. Lyn Knight Auction [including major, old-time military money collection] August 20-24 Sheraton Grand Hotel 4440 West John Carpenter Freeway, Irving, Texas 75063 (972) 929-8400. Mini Fest anticipated, take your pay books! August 28, the Charlton E. Meyer, Jr. and Gloria B. Meyer Collection of Holocaust and Camp Money will be exhibited at Holocaust Museum Houston. You are strongly urged to see it if at all possible. (take paybooks to the opening) http://www.hmh.org 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, Ron Waddell, Robert Drew, Ed Arrich, Nick Schrier, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 21, new festers 7. 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) Masstricht April 23-25, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands ======================================== 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 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" mailto: 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 (715) 445-4087 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: Application to Purchase United States Defense Bonds - Series E, Treasury Department Form PDE 1686 dated 194 . $4 ppd. Frank Clark, POB 117060, Carrollton, Tx 75011-7060 MPC FORSALE Ron Waddell PO Box 840 Forest, VA 24551 434-525-0587 Ronw1935@cs.com Notes will be sent First Class mail, add fee for insurance if desired. Notes can be returned for any reason. Series Denomination Condition Serial No Pos No Price 461 5 Cents aXF A03135077A 56 $8.00 461 5 Cents aXF A03503566A 18 8.00 472 5 Cents VF C02316080C 38 1.50 472 10 Cents VF C00807103C 17 4.50 472 10 Cents VF C02862124C 22 4.50 472 25 Cents F C02132159C 15 5.00 472 One Dollar VG/F C07878701C 5 5.50 472 Five Dollars VG C00072649C 10 80.00 481 10 Cents F/VF D02168721D 20 2.50 481 10 Cents F D07939141D 69 1.75 521 5 Cents F E04708224E 1 2.00 521 5 Cents VF E11747203E 41 3.75 521 10 Cents F/VF E06205740E 20 3.50 521 10 Cents F/VF E07752217E 46 3.50 521 10 Cents VG E21025341E 25 1.00 521 10 Cents VG/F E22850062E 1 1.50 521 25 Cents VG E04240589E 27 2.75 521 50 Cents VF E03525454E 21 15.00 521 50 Cents F E03639427E 35 7.00 541 5 Cents VF F01371867F 4 2.00 541 10 Cents F F06026576F 82 3.00 611 5 Cents VF H07370248H 82 5.00 611 One Dollar F H02930382H 17 2.75 611 One Dollar VF H05699665H 13 7.00 641 5 Cents VF J02570413J 70 1.50 641 10 Cents XF J03306266J 78 2.50 641 25 Cents XF J01732447J 49 5.00 692 5 Cents F E11167343E 52 1.00 692 10 Cents F E12890040E 16 1.00 692 One Dollar VG E21388861E 14 4.00 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; $4.00 Serial number 201; $5.00 Serial number 201; $10.00 Serial number 101; $20.00 serial number 101. Will buy, trade MPC, MFC, FRN notes. Put your for sale notice in the Gram. =========================================== MPC Gram Staff: Publisher, editor: Fred Schwan - MPCGram@yahoo.com Subscription Manager:Doug Bell- doug@papermoneyworld.net Tuesday Columnist : JoeBoling - JoeBoling@aol.com Thurski Columnist: 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!? Yahoo! SiteBuilder - Free, easy-to-use web site design software http://sitebuilder.yahoo.com