Norwich Bulletin Newspaper, January 11, 1917, Page 10

and $2 Notes WILL BE PUT IN CIRCULATION ABOUT FEB. 18T. TO MEET BIG DEMAND Greenbacks of Civil War Days, Dis- continued Thirty Years Ago, Are to Be Put Into Circulation—Bills of Larger Denomination to Be Called In Washington, Jan. 10.—A new issue of the one and two dollar greenbacks of Civil War days, discontinued more than thirty years ago, will be put into cir- culatign; probably about February lst, displacing similar United States notes of lirger denomination to provide re- let from the unprecedented demand for small paper money. - The treasury department ~ announced tonight . that the issue had been decided on because wilver certificates—the ordinary bills ©f one and two dollar denominatiops— could not be i wd under the law in sufficlent quantity to meet the de- mand. z A lmit of $846,681,016 to the amount ©of outstanding federal notes was fix- ed by ‘the law in 1878 after the green- back had become an issue in politics £nd had resulted in the birth of a new national party, backed largely by the farmers of the west and south. No greemdacks have been issued since 1886, and the amount of outstanding $1 and 82 motes of that varicty now is slight- 1y over $2,000,000. There is, however, $102,445,300 out- standing in United States notes of $10 denomination and higher and a portion ©of these will be retired and cancelled, dollar for dollar, to meet the new is- Eue of smaller denominations, “The demand for paper currency of the smaller denomin said the department’s ennouncemes al- ways been regarded by the treasury as an iadex 1o business corditions. ~ For many months thero has been a con- stantly growing demand for one and Ywo dollar bills, until now it Is im- ssible to meet the country’s needs in respect by means of silver certil- @ates, which for more than thirty years have been the only form of paper cur- rency issued in one dollar and two dol« lar. denominations. “As the supply of silver certificates fixed by the number of silver dol- jars coined, such coinage @iscontinued in 1904, it is or the number of sllver certificates outstanding by can- celling a_corresponding number of sil- Wer certificates of larger denomination. From July 1, 1915, to January 1, 1817, the number of $1 and $2 silver certi cates increased 34,587,301 to $284,826,786. This was offset principal- Jy by a decrease in the amount of out- Btanding silver certificates of the de- nominations of $10 and above. such a demand existing for $5 certificates that 1t has not been possible to retire them. “In consequence of this conversion of large denominations to small there are now outstanding only about $30,- ©00,000 of silver certificates of more than $5 in and conversions of Jarge denominations to those of small denominations have become increas- ingly slower and more difficult. “As the demand continued and be- camo more pressing it became neces- sary for the secretary to look to an- other source, and_consequently he has invoked for the first time the provi- slons of the act of March 4, 1907. “The ageregate amount of United States notes outstanding is limited by law to $346,681.016 and cannot be in- creased bevond that amount. How- &ver, as the amount of United States notes of denominations of $10 and up- wards otitstanding on January 1, 1917, amounted to $508.445,300, it is evident that a considerable increase can be made In the number of $1 and $2 green- backs outstanding bv means of re- ent and cancellation of notes of her denominations. BERLIN CLAIMS ILL TREATMENT OF PRISONERS BY BRITISH Report Made by First Lieutenant Crompton and Jason Godau. Bertn, Jan. 10—(By Tmwless to Bayville)—“The British admiralty has @eclared” says an Overseas News iAgency statement today, “that the Berman reports reganding the destruc- tion of submarine U-41 and ths fll- treatment of First Lieutenant Cromp- ton and Jeson Godau were false. The officfal_report of Lieutenant Cromp- ton, who is interned in Switzerland, s now arrived and fully confirms the @erman press reports.” “The attitude of the British steam- er towards the U-il as well as the brutal ill-treatment of the survivors on board the steamer on the way fo England, wers even worse than had prefouslvy been reported. The de- fails show that a treacherous attack was made by British steamer which flew the American flag while firing at the subma S0 an attempt to ram a lifeboat with two survivors, of whom one was seri- ously wounded; the Inhuman treat- ment of them on board the steamer; the efforts made to cause the two un- fortunate brave men to perish in order to dispose of the last _eve-witnesses and proof that this British _crime against civilization and humanity far eclipses even the Baralong and the King ‘Stephen cases.” The German admiralty last fall class- ed the sinking of the U-41 as a second Baralong c declaring that a British patrol merican colors, after des marine on Sep- tember 2 1y ran down ar the only two sur t of the pris- pick: attempt W boat containing all possible ances was given submar! man little house ever since January 3, 1951, M Stephen A. Steph- ens ‘of Stamford celebrated their Beth wedding anniversary in a_auiet manner TWednesday. Mr. Ste s has the n of Leing the only living ho rode on the first frain ever drawn by a st comotive on the New Haven road, and that was just after the road had been completed. The train which made the trip on Christ- mas day, 1845, consisted of e tencer, three cars, and ment out to test thc road. The trip_was made"from New Haven to New York ‘took about four hours. il | Iy PR ! LTI \“ i i iR ‘1 [T Do give me another piece of Adams Black Jack Grandpa—l like the licorice in it so much, and Ma.mma always lets me chew it whenever I have a cold. Don’t you hear how hoarse I am. You little rascal, you've had four pieces today, but then I _suppose I'll have to let you finish the package: PEACE WILL NOT BRING SOLUTION OF FOOD PRRBLEM German Under-Secretary of thn In- p. terior Warns His Countrymens Amsterdam, Jan. 10, via Londor, .20 m.—Ds- =chaelis, German undef * secretary of the interior, contributes to the Volkes Zeitung of Cologne, an ar- ticle warning Germany that peacs will not bring an immediate solution of the food problem. Se says: “We must expect for a considerable time, perhaps for many years, further limitation of consumption and ration- ing as regards the most important food-stuffs. Germany in the coming year of peace will have recourse al- most exclusively to such foodstufts as are produced within her own borders. Tonnage will be very scarce and de- terioation of the rate of exchange al- 50 will oblige Germany to import as lit- tle as possible.” Pointing out: that German harvest, main conmscious and not cry for peace on account of the scarcity from which we suffer.” even when a full yield is obtained, can be made to suffice only if rationed, Dr. Michaelis says: “Thus even after peace it will be nezemry to keep I’.h; be}l‘t pul!::d tight and there must be further sharp ra- Al ettt tioning. The yearning cry: ‘Give us 9 3000, ¥ards. peace! Give us more bread! has no London, Jan. 10, 7.45 p. m.—It was Inner basis. Of this we must re-.announced officially tonig_h‘t that Turk- Capture Enemy's Trenches on a Front ish trenches on a front of 1,000 yards northeast of Kut-el-Amara, on the Ti- gris front, had been captured. The text of the announcement reads: “Metsopotamia—The India division udvancing ‘with great dash vesterday attacked and captured . the = enemy’s trenches on:a front. of 1,000 vacds in the. bend of the Tigris, ‘on the right bank, northeast of Kut-el-Amara en officers and 175 men were cap In the course of the operstions “The enemy’s trenches at Sanx were bombarded or the mame day his. lines were sutcestully raided