From: "MPCgram" To: Subject: MPCGram 1021 Date: Saturday, October 11, 2003 10:09 AM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 1021 Saturday October 11, 2003 Financing War—UK By Warner Talso Addressing the financial situation of Great Britain in WWII is a daunting task. There is so much history here, at least for those of us in the English-speaking world. Great Britain, as one of the Allies, may have been on the winning side, but was devastated economically, and as a nation, never fully recovered it's world position after the war. Plus, Great Britain's activities are closely intertwined with those of their Commonwealth, which offers the potential for greatly expanding the scope of discussion. Great Britain's economic policy and strategy were largely based on the recommendations of John Maynard Keynes, acting as economic advisor to the Treasury. Keynes was such a force in English economic doctrine that it is worth a digression to examine him more closely. John Maynard Keynes was born 5 June 1883 in Cambridge, England and died 21 April 1946 in Sussex, England. He was an economist by education and profession. After WWI ended, Keynes represented the English Treasury at the Versailles Peace Conference, but, in June 1919, he resigned on the grounds that the proposals being put forward for German reparations were both unfair and impractical. Another important period of Keynes' career was during the 1930s. This was a period of unemployment and the depression. Conventional economics could not cope with these extraordinary events leaving traditional economic theory with no answers. Keynes made a name for himself by explaining these events. By 1937 Keynes' health began to deteriorate. He would never be fully fit again. However, his expertise was such that he was given an honorary role in the Treasury during World War II. He wrote a book in 1939 entitled "How to Pay For the War". The theme was to show that the real problem was how to release the resources available to the war effort in a way that it inflicted the least long-term hardship and minimize the impact on those least able to bear it. Keynes basically proposed forced loans from labor, repayable after the war was won, and he made rough evaluations of the domestic and foreign resources of Great Britain that could be mobilized by the central government to provide the necessary military force. His work had a major influence on English and world policy, then and in the future. For example, he is given credit for establishing the International Monetary Fund and the World Bank. His system of national accounting was adopted by the United Nations. As a result, similar to policies of WWI, Britain again raised much of the finance by heavy domestic taxes and foreign borrowing. Only now in addition to accumulating indebtedness to the United States, it also built up a huge indebtedness in sterling balances to the Commonwealth and Empire countries. These were to be a major constraint upon British economic policy for at least two decades after the war. Finally, price and wage controls were imposed as in all the belligerent nations, and were effectively enforced thanks to total mobilization of the economy for the war effort and the control of products available to consumers through control over imports. =========================================== Editorial/opinion =========================================== Sorry about missing three days. I sure hate it when that happens. I have a good excuse for one of the days (yesterday). Warner and I had a little misunderstanding. After sending me the column (above), we talked on the phone. He told me that the Albuquerque Coin club was having its local show this weekend. I suggested to him that he should alter his column to include a promotion for the local show. By this morning I had not received the alteration. By chance Warner called a few minutes ago and we discussed it again. No matter what message that I thought that I had transmitted, the message that he had received was that he should send an after action report. So, I learned, once again how fragile communications are. I also obtained the essential information to put in a last moment plug. The Albuquerque Coin Show it TODAY and tomorrow at the Mountain View Holiday Inn, Albuquerque, NM. If you are in the area, you should stop in. If nothing else you can meet a Gram columnist! In the above conversations with Warner on the phone, he politely pointed out that the introductory material in WWII Remembered re English war savings documents was missing. By extension he was pointing out that listings and other information on this same issues was also sparse, well worse than that. He was correct in statement and inference. We did not have much information. This was a source of frustration for me. I could not understand that we could not find any war/defence type bond items for the UK. We did have some information that they had been issued (see page 169 of Remembered). Eventually, I developed a theory about this. We know (see page 170) that starting in 1940 securities were evacuated to Canada. It finally hit me that actual paper bonds were not issued. Instead the bonds were sold by journal entries only. I was pleased with this theory (better late than never), but of course wanted verification. Well, we have found it. A newly found sales brochure directly points out that paper bonds were not issued. This explains why we have not been able to find any such bonds. Now I wonder if in spite of the brochure if paper items might have been issued in small quantities. This might have happened before 1940 when the evacuation of securities began or they might have been created at least for publicity or other limited purposes. =========================================== MAIL CALL =========================================== Dear editor, The full name of Theo's new book is BMA. Occupation currency, 1942 - 1956. Europe and North Africa. The readers may want to know the book details so that they may order it. It is published by the ELRAN PRESS and has the ISBN of 90-801808-6-6. Published in 2003 and the author's full name is T F A van Elmpt. I have only just received my copy so I am unable to give a detailed account of it. First impression is very encouraging. Regards, Andrew M. Clark Dear Gram, Add my name to the list of those who would like to see Joe perform is play at Fest V. Perhaps something can be done with "tickets" and/or MFC for admission. As an aside, permit me to comment on a non-numismatic but military related matter. While going through some of her late father's things (he was a bomber pilot in the Pacific in WW 2) my wife came across a card issued by "THE BENEVOLENT ORDER OF T S." Now, I would assume most of us who were in the military have heard the expression to "go see the Chaplin and get your TS card punched." Well, I for one, never knew that a real card actually existed. The card we found is punched in two spots and is duly signed by Chaplin Maxwell. =========================================== CALENDAR OF EVENTS =========================================== 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, Loretta Freyser, Dick Freyser, Ron Waddell, Robert Drew, Ed Arrich#, Neil Shafer#, Dan Freeland#, Bill McNease, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 26, new festers 9. Standard rate $148, single occupancy $198, payments may be made by mailing paper instruments of any kind to BNR Press (or MPCFest or even Fred Schwan) at 132 E. Second St., Port Clinton, OH 43452. Payments may also be sent via PayPal ( fredschawan@yahoo.com). Once you have sent your payment, monitor the above list to ensure that it has been received and posted). Show n tell: Gail Baker (education@money.org) Travel coordination: Sparky Watson (mcwatson@yahoo.com) Auction items: Larry Smulczenski (skifla@prodigy.net) Exhibits: Joe Boling (joeboling@aol.com ) The Portland, Oregon, ANA is March 26-28 and it is sponsored by the Willamette Coin Club with Larry Gaye as the show chairman. Howard Sarg Daniel will be manning a NI/NBS/IBNS club table at this show, and moderating meetings for NI and IBNS. As always, Gramsters are welcome at the NI and IBNS meetings and at the club table. Masstricht April 23-25, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands 2005 date tba, MPCFest VI, reservations now being accepted. Reservations entered in order received: John Cheney$, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 2, new festers 0. ======================================== 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 yourdonation 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" mail to: 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 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 Dear Editor, I have 4 different MPC training bank notes for sale. A $10.00 and three $1.00 as illustrated on page 181 of the 4th. 2 $1.00 notes are not illustrated. All 4 pieces for US$40.00, with $5.00 of every sale donated to the ANA Military Scholarship Fund. Here are the images of the notes. http://www.papermoneyworld.net/grams/images/trainingback.jpg http://www.papermoneyworld.net/grams/images/trainingfront.jpg coinman@rochester.rr.com David E. Seelye P.O. Box 356 North Chili, NY 14514 USA 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; =========================================== MPC Gram Staff: Publisher, editor: Fred Schwan - MPCGram@yahoo.com Subscription Manager:Doug Bell- doug@papermoneyworld.net Tuesday Columnist : JoeBoling- JoeBoling@aol.com Friday Columnis: Warner Talso: wtalso@aol.com Fest Auctioneer: 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!? The New Yahoo! Shopping - with improved product search http://shopping.yahoo.com