From: "MPCgram" To: Subject: MPCGram 1044 Date: Friday, November 07, 2003 9:57 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 1044 Friday November 7, 2003 Financing War By Warner Talso I seem to be stuck in the British Empire. While reading Fred's articles in the Bond and Banknote News, I ran across one on Newfoundland War Savings Certificates. Newfoundland??? Well, why not. A small entity with an important role in WWII. For the geographically challenged, Newfoundland is an island off the east cast of Quebec, Canada. It is about 42,000 square miles in size (similar size as the state of Tennessee) and in 1941 had a population of about 298,000 people. The primary occupations prior to the war were fishing and agriculture. At the time Newfoundland was British colony. She had chosen in 1867, like Prince Edward Island, not to join the other colonies and become a province of Canada. It was not a wealthy colony and enjoyed unprecedented prosperity during the war. It might be the only belligerent to make money off the war. Let me explain. Protection of territory in the Western Hemisphere from European attack was of paramount concern to the U.S.A. The North Atlantic route was the shorted distance to North America. It was also the preferred route to ship troops and supplies to Europe. A precursor to the Lend Lease program, which we have discussed, was the "destroyers-for-bases agreement". Recall the U.S. gave Great Britain 40 obsolete destroyers for Atlantic bases on 2 September 1940. This was a lease, "freely and without consideration," of base sites in Newfoundland and Bermuda. A military Board selected the Argentia Peninsula and adjacent waters for aerial operations and to accommodate facilities for naval light forces. In addition, the Board recommended the neighboring community of Marquise as a site for basing and training some 16,000 Army troops (a total never reached). As a result the U.S. operated, some built from scratch, 7 Army Air Corps bases in Newfoundland, plus Naval facilities. These details are important because the jobs and money brought into the area were significant considering the population and effectively doubled the national income. Wartime savings programs were similar to those of Canada - and even less is known about them. War Savings Certificates (WSC) were issued, similar to other British Commonwealth countries. WSCs were registered and could only be redeemed by the registered holder. They were issued though the Post Office and a limit of $600 worth could be purchased per year. (I am not sure I understand why this was so. Any ideas?). WSC were issued in amounts of $3, $6, $12, $30, and $60 and could be redeemed after six years. This provided an interest rate of about 3.1% when held to maturity, which was average for Allied savings programs. These may seem to be strange denominations, for example, Canada issued WSCs in amounts of 5, 10, 25, and 100 dollars. However, this is perfectly logical when one considers the system was based on the purchase price, not the redemption value. The purchase prices for the 3, 6, 12, 30, and 60 dollar WSCs was 5, 10, 25, and 50 dollars, respectively. The purchase price for a $3 WSC was less convenient - $2.50. This system required less time and effort at the point of sale. The WSC system also included war savings stamps. There was one denomination, 10 cents. Stamps could be purchased and accumulated until the price of a WSC was reached and then exchanged. Stamps did not pay any interest. War bonds may also have been issued, but there is no firm information on them. Given the size of the colony, it's resources, and the wartime economy, it appears safe to say the primary purpose of this war savings program was to take money out of circulation and control inflation. =========================================== Editorial/opinion =========================================== Can Bears Read? For many years (decades?), Judy has told me about the wonderful time that she had at the Great Smokey Mountains National Park with her family when she was a girl. So it was no surprise that she was excited when the opportunity arouse for her (us) to visit the Smokies. A friend of Judy’s has a time-share. The fiend offered Judy a short vacation in the Smokies if Judy (and of course I) would just sit in on a sales pitch from the time-share company. It was no contest Judy jumped. We arrived at the official welcome center of the park late in the afternoon after a nice drive. It is a beautiful, climate-controlled place with park rangers and volunteers. Judy learned details on the many hiking trails in the park. I was inspired to purchase a book (As Far as the Eye Can See) by David Brill about his experience hiking the Appalachian Trail (AT). I previously read a great book about the trail (A Walk in the Woods by Bill Bryson). I started reading Brill eagerly. I have at least two nephews who want to do the AT and I have a newly reinforced fantasy of leading them for the 2100 miles. It would be great. Fantasies of the trail dominated my thoughts. On morning one Judy had picked out a hiking trail that the guide in the beautiful, climate controlled welcome center had told her was both beautiful and easy. We had plenty of time before the four o’clock appointment with the time-share salesman to qualify for the free room and goodies. After the free hotel continental breakfast, I suggested that Judy wait at the door while I get the car and delivery my water bottle to her for filling. She refused on the (unstated) basis that she did not want me out of her sight for that long and beside it had been my idea so it could not have been good. We found the trailhead without too much difficulty. There she announced that she needed to take her vitamins and swallowed the remaining liquids in the cups from the day before—water, coffee, cola—some of each. The park map and trail sign stated 2.5 miles. I wondered-briefly—if that was line of sight or ground distance, one way or round trip. Then I decided that it did not make much difference since the guide in that climate-controlled center had said that it was an easy trail. The sign said moderate instead of easy, but I figured that it could not be too much for an old ranger (emphasis on ranger). In the trunk of my car I have a backpack with shrink-wrapped copies of WWII Remembered and Comp Catalog of MPC (two copies, collectors editions). These are simply meant as weight to increase the workout. Of course the afore mentioned (and empty) water bottle is also attached to this back. I considered whether or not I wanted to take the pack on this hike. I pondered only a few minutes before making my decision and we were off. It was indeed an easy trail. Gentle and beautiful. The day was also gorgeous. The day before had been unseasonably hot—over 80 degrees. This day was predicted to be the same. At the start I walked ahead of Judy, then walked back toward her until she was almost out of sight ahead of me, then I would set out to catch her. After all, I wanted to maximize the workout. The trail did get more difficult, but I was not worried. Uphill and with bad footing. Finally, we got to the top of the mountain and crossed to the other side. Ah, that was the obvious deal. The falls would be on the other side of the ridge. A piece of cake. In the saddle where we crossed over, a fellow coming the other way rather cheerfully said that we were half way. Cheerful, but he did not look good. Half way. Hm. Half way to the falls or half way finished for the day. Half way to the falls meant only a quarter finished. From there we mostly went down hill. Way down. I gave up on extra legs for the work out. The footing was terrible, but it was down hill. On and on we went. To my amazement, the fellow had been correct, it took as long to get to the falls from the saddle as it had to get to the saddle. It is a nice waterfall. It would be well worth a five-minute walk from the car. Now I was worried that we could not get back in time for our sales pitch. I did not want to buy a time-share, that is for sure, but neither did I want to pay for the hotel room and goodies that would be free for attending. We turned for the return march. Can bears read? Would deer collect MPC if they had the reference books? Those books went into the bush. Unfortunately, it was only a fantasy. I tried to convince myself that I could lighten the load by dumping the books. The good and bad news is that I had made the correct decision and not taken them. If I had, they would have gone to the wildlife without one ecological regret. As it was I tried to pretend that I had just dumped them and was therefore that much lighter on my feet. Remember that long down the mountain stretch from the saddle? Remember the empty water bottle? They did not go together well. There was nothing to do but lean into the mountain and walk. In the first quarter of this journey I had wondered if I would get enough work out. In the third quarter I wondered what in the world I would do if some of the old fat guys on the trail had a heart attack. I looked around, there did not seem to be too many options if that happened. I hoped that if some unfortunate sole had that happen to him in my reach that he/she would have a water bottle. All this before getting to the final quarter. On the return at the saddle, Judy pulled ahead. This was not a plan for more exercise. A couple and I sat in the saddle taking some joy in telling people crossing over on the way out that they were half way. The horrible truth to that statement meant that I still have half to go. In that last quarter I watched carefully for those people who might have died along the way (in the hope of getting their water). Finally, I was spared some misery by fantasies of MPC replacements. $5 denominations were prominent in my mind. I had just found a Series 481 $5 replacement at a coin show and bought it for a big price, then I tried to trade it for a cup of water. No one would trade. Remember the sign with the ambiguous information at the trailhead? The back of the sign said (I think) Thank You for Visiting Death Valley. I reflected on the old ranger and realized that at the outset I had put the emphasis on ranger instead of where it belonged on old. I slumped in the car. The cups were exactly empty. I raced out of the parking lot, but the one lane road (speed limit 10) was jammed with people going half the limit. The sign said 9 miles to the next population center. Impossible to pass. I was in agony. I pulled three one-dollar bills from my pocket and gave them to Judy. I told her to keep them in her fist so that when we got to an appropriate place that she could jump from the car to get beverages in the least amount of time. I was aggravated when she stuffed the bills in her pocket, but did not say anything. I leaned forward against the wheel as if the few inches difference would get me there sooner. I did not care about the appointment. I did not care about the expense of the room. I did not care about the 481 $5. Eventually we got to a sort of convince store in the jungle. I carefully assessed the situation and pulled up to the vending machines saving eight feet over pulling up in front of the doors. If beverages were 10 feet inside, I figured that I had saved 18 critical feet. I stopped the car, and instructed Judy to go get the drinks. She felt in her pocket (instead of her fist) and said, I cannot find the money. Then she opened the car door and stood in the lot searching her pockets, looking on the floor of the car, even under the car. I pulled out some more cash and pushed it into her hands and said Drinks. Get the drinks. She said, but I cannot find the money. I know that it is here. I yelled, woman, do you know what a Series 481 $5 replacement is worth? She continued to dig. I opened my door and more or less fell into the lot and struggled to the machine. Amazingly, I did still have the appropriate currency (see gram definitions) and inserted that 481 $5. I am sure that you have experienced the pause. After inserting cash and making a selection, there is a momentary pause when the cola gods will decide to vend or chat. Clunk. I got my cola (diet). Slumped against the machine, I twisted the cap, and took a great gulp. I then promptly regurgitated it on myself. The next gulp stayed down and within a minute I felt much better and wondered about that replacement. When I got in the car, Judy said “Oh, why didn’t you tell me that you were so thirsty?!” Amazingly, we made it to the sales appointment. I could speak and think of things other than water, but was still not very excited about the prospects. You probably will not believe the following twist which is the entire point and justification of this tale (true story). The salesman chatted away. Eventually he asked something to which I replied that I had been in the army and he pulled out his challenge coin! I pulled out my (five) Fest coins to meet the challenge. =========================================== MAIL CALL =========================================== Hello Gramsters! No "Gram" here since #1042! Guy Araby! Dear Gram, I can barely remember MPC from when I was in the service, but never thought of collecting it, until I came across a reference of your catalog, while I was surfing the net. I am basically a stamp collector, who collects WWI & WWII occupation stamps, war tax stamps etc. I also collect Notgeld. And now I would also like to start collecting MPC, JIM, paper money, coins, and tokens dealing with the military. But I am a 56 year old disabled veteran on a limited income, so I don't want to jump into an area were all the items are very expensive. So would you mind giving me an idea which areas I might look-into? Thanks much, Lee "Little Lee" Smith Dear Lee, Welcome to the wonderful world of military numismatics. The Gram should fit right in on a limited budget. Editor Dear Editor, The most logical definition of currency I could find in my library is by Richard G. Doty in his Encyclopedic Dictionary of Numismatics: "CURRENCY - A general term embracing any and all money actually in curculation in a given time and place. It is linked to the word 'current,' refering to those monetary items still in use." David Klinger =========================================== 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, Doug Bell, Bob Olson($$), Fred Schwan. # new Fester, $ paid. $$ paid single (¢¢ unpaid single) occupancy. Running totals: total 28, new festers 9. Standard rate $148, single occupancy $198, payments may be made by mailing paper instruments of any kind to BNR Press (or MPCFest or even Fred Schwan) at 132 E. Second St., Port Clinton, OH 43452. Payments may also be sent via PayPal ( fredschawan@yahoo.com). Once you have sent your payment, monitor the above list to ensure that it has been received and posted). Show n tell: Gail Baker (education@money.org) Travel coordination: Sparky Watson (mcwatson@yahoo.com) Auction items: Larry Smulczenski (skifla@prodigy.net) Exhibits: Joe Boling (joeboling@aol.com ) The Portland, Oregon, ANA is March 26-28 and it is sponsored by the Willamette Coin Club with Larry Gaye as the show chairman. Howard Sarg Daniel will be manning a NI/NBS/IBNS club table at this show, and moderating meetings for NI and IBNS. As always, Gramsters are welcome at the NI and IBNS meetings and at the club table. Masstricht April 23-25, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands 2005 date tba, MPCFest VI, reservations now being accepted. Reservations entered in order received: John Cheney$, Danny Bingham$, Fred Schwan. # new Fester, $ paid. $$ paid single occupancy. Running totals: total 3, new festers 1. ======================================== 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 John & Nancy Wilson John Cheney Neil Schafer Joel Shafer Arlen Sheldon 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 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 Columnist: 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!? Protect your identity with Yahoo! Mail AddressGuard http://antispam.yahoo.com/whatsnewfree