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NEW CURRENCY NOTES.
The Treasury Department is issuing a new and smaller- sized paper currency this month in substitution for a sub- stantial part of the $5,000,000,000 of various kinds of paper currency in circulation now. The new currency will include United States notes, silver certificates, gold certificates and Federal Reserve notes. Later, national bank notes may be issued. Among the advantages claimed for the new currency are greater convenience in handling, better appearance; economies in manufacture, and greater difficulties for the counterfeiter. The face design of the new notes is to be printed in black and the back designs in green. The back design will be uniform for all denominations, while a portrait, distinctive to each denomination, will be part of the face design. One dollar notes will have Washington's portrait ; two dollar notes, Jefferson's ; five dollar notes, Lincoln's ; ten dollar notes, Hamilton's ; and so on to the $10,000 note, which is reserved for the features of Chase. Doubtless it is appropriate that ' Washington, Jefferson and Lincoln should be comparatively common currency, but Benjamin Franklin seems rather aloof on a $500 bill. A new and, it is promised, more durable paper is to be used for the new issue, in the manufacture of which it is estimated 440 tons of paper and 460 tons of ink will be saved annually. The Treasury estimates that about 900,000,000 pieces of paper currency are -outstanding, but •that few of them will be in general circulation by the end of this year. Ivy LEE. Arew York,'Wednesday, July 10th.
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