The E-Sylum v7#39, September 26, 2004
whomren at coinlibrary.com
whomren at coinlibrary.com
Sun Sep 26 20:17:15 PDT 2004
Welcome to The E-Sylum: Volume 7, Number 39, September 26, 2004:
an electronic publication of the Numismatic Bibliomania Society.
Copyright (c) 2004, The Numismatic Bibliomania Society.
BIBLIOPHILE FRANK VAN ZANDT ILL
We have received news that former NBS officer Frank
Van Zandt is in the hospital, seriously ill. Your good
wishes are appreciated. The address is:
Frank Van Zandt
6032 Van Zandt Road
Livonia, NY 14487
KARL MOULTON OCTOBER 2004 PRICE LIST
Karl Moulton's October 2004 fixed price list of numismatic
literature has been published. In his welcome letter he writes:
"The market for American numismatic literature exploded on
June 1, 2004. That's the day the John J. Ford Library, Part I
was sold for $1.66 million in Riverside, California by everyone's
good friend, George Frederick Kolbe. I attended the sale and
was frequently frustrated by the record setting prices. For
instance, by top bid of $14,000 wasn't enough to secure a
deluxe copy of Ard Browning's 1925 Quarter book...
You've probably heard and seen it before, but right now both
the coin and literature markets are extremely active. Even items
on e-Bay are receiving very strong bids."
LAKE BOOKS SALE #76 CLOSING
Fred Lake of Lake Books writes: "This is a reminder that our
sale #76 closes on Tuesday, September 28, 2004 at 5:00 PM
EDT. You may view the sale at
http://www.lakebooks.com/current.html
A cautionary note: We have another hurricane (Jeanne) bearing
down on the Florida peninsula as I write this (Saturday noon)
and, although we do not anticipate that our location will suffer
wind damage, there is a real possibility that we may lose power.
If that happens and lasts until the day of the sale, we will
postpone the closing date until Tuesday, October 5, 2004. I
will email everyone after the storm passes to keep you informed."
[Following up his email with a phone call this afternoon, Fred
reports that the storm has indeed knocked out their power,
and the contingency plan is in effect - the sale closing date will
move to October 5, 2004. We wish our best to the Lakes
and hope their power will be restored quickly. -Editor]
MORE ON IVAN'S WRATH
Nolan Mims writes: "Sorry to hear that Ivan caused so much
trouble in Pittsburgh. He was not a welcome guest anywhere.
We got hit pretty hard in Mobile, but Gulf Shores and Pensacola
were much worse. For all practical purposes, Gulf Shores no
longer exists. Much of Pensacola was heavily damaged. For
them it was a lot worse than Frederick in 1979. The storm
took a 20 mile eastward jog at the last minute and that saved
Mobile. The highest winds recorded here were 102 MPH
which is still pretty bad. I lost power a little before 11
Wednesday night and got it back Monday around 7 PM, so
it was off almost a week. I was fortunate with just a few tree
limbs down, but I don't have many trees. It will be weeks
before power is fully restored to some areas.
I appreciate the phone calls and e-mails from my friends in the
numismatic community."
[I learned Monday that Tom Fort's home was affected a bit
by the storm with some basement water, but nothing major.
However, they were without power for two days and ended
up moving out for the weekend. I also spoke Monday with
Ed Narcisi, owner of the nearby Etna Coin shop in Etna, PA,
one of the towns hit hard by Ivan in Pittsburgh. Our tour bus
passed the shop on the way back to the convention center.
Luckily, the shop is on a patch of high ground. Neighbors
just a block or two away were under three feet of water.
Ed had to spend Friday night in his shop - his neighborhood
was an island, leaving no way out. Local police imposed a
curfew and patrolled the street every fifteen minutes to prevent
looting. The cleanup continues, with traffic still being detoured
around some work areas a week later. President Bush
swooped in earlier this week to tour the affected areas. I
visited Ed's shop Saturday afternoon, and the nearby area is
still a frightful sight. Rail traffic won't be "on track" again for
some time - there are still mounds of debris on the rails.
Now back to numismatics... -Editor]
PARMELEE STRAWBERRY LEAF CENT FOUND
John Kraljevich of American Numismatic Rarities writes:
"After 60+ years, the Parmelee Strawberry Leaf has come
back to light. It's the finest of 4 known Strawberries (the
unique NC-2 and 3 NC-3s) by a factor of 2: the Condition
Census is 7-3-3-2.
The piece was first offered in an 1877 Scott sale, then was
sold in the Parmelee sale, which was its last auction
appearance. The piece was owned by Dr. Hall and Virgil
Brand, then was sold to a Mr. Staples in 1941 for $2,750 by
James Kelly. A few months earlier, B.G. Johnson had
purchased a group of no less than 17 choice 1793 cents,
all of which were Condition Census. All 5 1793 NC
varieties then known were included in that single purchase
from the Brand collection.
The coin is still with the original 1941 envelope marked
$2,750. The piece has remained in the same family until
now, hidden from sight for years. Mr. Staples, the last
owner of record, was killed in action in 1943 in the Solomon
Islands, and he was posthumously awarded the Silver Star
for his service there.
Of course, the whole story will be told in great detail in the
November 2004 ANR sale catalogue. The sale itself will be
held in Baltimore November 30-December 1. If you weren't
at the Starr sale in 1984, this might be the first time in most
of our lifetimes we've had the chance to bid on a Strawberry
Leaf cent.
The coin has been certified by NGC at the request of the
owners of the coin (as F-12). We're thrilled to be chosen to
handle this piece!
If folks need more information about the auction, I can be
reached at johnk at anrcoins.com."
[An article about the coin's rediscovery was published early
Tuesday evening on the Associated Press wire and posted
on the web site of Maine Today. The article was datelined
Auburn, Maine. Here are some excerpts:
"A 1700s penny that´s nearly the size of a half dollar and if
authentic could be worth a fortune surfaced in a jewelry
and coin shop.
The 1793 coin is known by the "strawberry leaf" name
because of a trefoil sprig on its tail side."
"The coin was in the possession of the owner´s family since
1941, when it was purchased by a collector for $2,750..."
To read the full story, see:
http://news.mainetoday.com/apwire/D8584U300-264.shtml
This article in the Boston Herald has an image of the coin:
http://news.bostonherald.com/localRegional/view.bg?articleid=45400
KLEEBERG ON THE NC-2 STRAWBERRY LEAF CENT
For more information on the Strawberry Leaf cent, see the
Proceedings of the 1996 American Numismatic Society
Coinage of the America's Conference. The Sheldon NC-2
variety is being discussed; the recent discovery of the
Parmelee coin is Sheldon variety NC-3
"ANS curator John Kleeberg re-examined the strawberry leaf
cents of 1793. The term "strawberry leaf" was coined by David
Proskey, when he wrote a series of articles on large cents for
the Coin Collector's Journal. The unique strawberry leaf cent,
with ONE CENT low, was first found in circulation by Mr.
Meader of Providence, RI, in 1845. He sold it to Richard
Winsor, and Winsor lent it to be photographed for the Levick
plate. At the Winsor sale in 1895, Crosby bought it, and he
sold it to Dr. Thomas Hall a few months later. A particular
thrill for the audience was that the present owner of this piece
brought it to the conference and displayed it. Kleeberg
reviewed the evidence, and pointed out that there are so many
differences in the lettering of the strawberry leaf cent that it is
clear that its letters are hand-cut, not made with punches. It is
not a product of the United States Mint. Kleeberg argued that
it was a counterfeit made circa 1793-95. A lively discussion
ensued, when some members of the audience, including R. W.
Julian, suggested that the cent might not be a counterfeit, but a
private pattern by a coiner who did not have access to punches."
http://www.amnumsoc.org/newsletter/fall96/museumnw.htm
STAHL HEADING TO PRINCETON
From the press release: "The Princeton University Library is
very pleased to announce the appointment of Alan M. Stahl
to be Curator of Numismatics, effective 13 September 2004.
Stahl holds a PhD in history from the University of Pennsylvania.
From 1980 to 2000, he served as Curator of Medieval
Coins and of Medals at the American Numismatic Society
(New York), with responsibility for two collections containing
about 50,000 objects in total. In addition to his curatorial work,
Stahl has taught ancient and medieval numismatics and has
been a visiting professor at the University of Michigan, Notre
Dame University, and Rice University. His research and
publications have focused on the late antique and early medieval
world. He is the author of seven books and more than 75 articles.
His monograph Zecca: The Mint of Venice in the Middle Ages
(Johns Hopkins University Press, 2000) was the recipient of
American Publishers' Professional/Scholarly Award in
Economics (2001). His current research involves a manuscript
notebook kept by Michael of Rhodes, a Greek seaman of the
early 15th century.
The Numismatic Collection of the Princeton University Library
is in the Department of Rare Books and Special Collections,
in Firestone Library. The collection includes nearly 10,000
classical Greek and Roman coins; 800 Byzantine and Western
medieval coins; thousands of late antique and early Islamic
coins excavated at Antioch-on-the- Orantes between 1932
and 1939; 2,000 American coins and more than 2,500 pieces
of Colonial, Continental, and Confederate paper money;
more than 2,000 medals, including the recently donated C. C.
Vermeule Collection; and thousands of other items. Stahl's
responsibilities for the Princeton Numismatic Collection will
include acquisitions and donor relations, description and
data-base cataloging, public services, outreach to Princeton
faculty and students, and exhibitions. Stahl succeeds Brooks E.
Levy, who served as Curator of Numismatics from 1966 until
her retirement in June 2004."
GEORGE THOMAS PORTRAIT PLAQUE INFO SOUGHT
Philip Mernick, London, England writes: "I wonder if a
subscriber to The E-Sylum can help me with this medal - it is a
mystery (to me). It is 75 mm in diameter and is NOT made of
metal. It commemorates Major General George H. Thomas's
defence of Chickamauga(?) It was engraved by Borrel, Paris
and published by Tiffany & Company, New York in 1866. The
fact that it was designed in France (and purchased in Paris some
years ago) and Tiffany exhibited at the Paris International
Exhibition of 1867 makes me wonder if it is made of Bois Durci.
This composition material made by heating a mixture of wood
flour and blood proteins under great pressure and temperature
was used to make a large series of portrait plaques which
include Washington, Lincoln and Seward. Can anyone with
access to information on Civil War commemoratives tell me if
this medal is recorded and if so what material it is believed to be
made of?"
TAYLOR & CHALLEN COIN PRESS INFO SOUGHT
Dan Gosling writes: "I need help researching the coining
presses of Taylor & Challen Ltd. Are there any books or
articles on equipment used to strike coins? I have read the
sections in: "A Numismatic History of the Birmingham Mint"
by James O. Sweeny and "Striking Impressions" by James A.
Haxby. Thanks for your help."
OCALA NUMISMATIC BOOK PROJECT
Art O'Connell, President of The Ocala Coin Club writes:
"The Ocala Coin Club, Ocala Florida has undertaken a
project to provide numismatic reference books to the
Media Centers in each of the Middle Schools in Marion
and Citrus Counties.
Each school is being given a hardbound copy of the Red
Book and a copy of "Coin Collecting for Dummies" during
September of 2004. The club plans to make this an annual
event."
[Great job! Is anyone aware of other local clubs with
similar projects? -Editor]
DOLLAR HOARD RIPPED FROM THE HEADLINES
Chick Ambrass writes: "I was just watching a CSI episode
(based in Las Vegas), where the son of a casino owner is
killed, and he has a vault outside town in the desert, with
23 tons of silver. This is similar to the story of the Las Vegas
Morgan dollar hoard that turned up a couple of years ago."
[Has anyone else seen the episode? Are there other parallels
to the real-life story? -Editor]
ANS BUILDING NAMES QUIZ CONTINUES
Last week's quiz question regarding the numismatic
luminaries whose names are chiseled in stone on the
old American Numismatic Society building in New
York is someone who "was a 19th century French
numismatist. He was probably most well-known for his
study of Spanish coinage struck in the time of the Visigoths
and during the rise of Christianity on the Iberian peninsula.
He is also known for his volumes on Italian Renaissance
medals."
The still-very-much-alive John Burns was the first to
respond, submitting the following one-word answer:
"Heiss" If I were a schoolteacher, I'd only give half
credit. Heiss who?
NBS President Pete Smith writes: "This week's quiz
was a challenge for me. I have one book on Renaissance
medals and have studied the topic but not all related literature.
I thought of people like Philip Grierson and George Miles
but they are too modern.
Last night I pulled my Clain-Stefanelli bibliography off the
shelf and found the name of Aloeiss Heiss after about a
ten minute search. He appears to meet your criteria but is
not a household name in my household."
The answer is indeed Aloeiss Heiss.
Now for the next quiz. The next name belongs to "a Polish
historian and numismatist. His works on Polish history ...
were published in twenty volumes. In addition, he wrote
two important works on numismatics: the two volume
La Numismatique du mayen age (1835) and Etudes
numismatiques (1840)."
FIRST CONFEDERATE CURRENCY COLLECTOR
Bibliophiles and numismatic history buffs needn't be
collectors of Confederate Currency to enjoy Fred Reed's
article in the October 2004 issue of Bank Note Reporter
(see p34). Titled "Who Was the First Confederate
Currency Collector?" the article is a very interesting read,
and makes use of a number of contemporary newspaper
accounts.
Since we seem to have fun with quizzes I won't publish
the name of the collector until next week's issue. Anyone
care to hazard a guess?
ERIC NEWMAN HONORED BY UNIVERSITY
Washington University in St. Louis recently honored
numismatic scholar Eric P. Newman and his wife
Evelyn:
Eric Pfeiffer Newman
Eric Newman was born in St. Louis in 1911. He earned a
bachelor's degree from Massachusetts Institute of Technology
in 1932 and a juris doctoris from WUSTL in 1935.
After practicing law for 52 years, he retired from Edison
Brothers Stores in 1987 and now serves as president of the
Harry Edison Foundation.
As one of America's foremost numismatists, Newman is
renowned for his scholarly contributions to the subject and for
his exceptional private collection of U.S. and Colonial American
coins and paper money. The avocation began more than eight
decades ago, when his grandfather gave him an 1859 U.S.
copper-nickel cent.
Selections from his collection will soon be displayed in the
University's Newman Money Museum, which will occupy 3,000
square feet in the Mildred Lane Kemper Art Museum at the
Sam Fox Arts Center."
To read the full article, see:
http://record.wustl.edu/news/page/normal/3880.html
VERDIGRIS ON LITERATURE?
Nancy W. Green, American Numismatic Association
Librarian writes: "Have other readers experienced verdigris
on literature? The library has a Stack's catalog of the
Anderson Dupont sale, September 24, 25, 1954. The
cover is copper and has great verdigris. It does not appear
to be mold because it does not wipe off even when
moistened slightly. Just wanted to "share"."
FIRST COIN STILL A MATTER OF DEBATE
Regarding David Klinger's question about the first coins,
Reid Goldsborough writes: "The question of the world's first
coin, long debated, is still very much under debate, with many
scholars joining in. In trying to answer the question, much
depends on the definition you use for "coin." All coins are
money (doesn't include exonumia) but not all money is in the
form of coinage. Few numismatists would classify the flat
roll of uninscribed bronze bullion at the Numismatic Museum
in Athens, described in last week's E-Sylum, as a coin. Much
also depends on how you interpret the archeological evidence
or whose interpretation of the archeological evidence you
believe. And much depends on how definitive you feel the
evidence needs to be before you put forth or accept any
given theory. I covered this debate, and argued for the
Lydian Lion as the world's first coin, in recent articles for
The Numismatist and The Journal of the Classical and
Medieval Numismatic Society. I've also put together an
expanded version of these articles at this Web page:
http://rg.ancients.info/lion "
INTERVIEW WITH NEW NICKEL DESIGNER
The Silver Springs Gazette has an article interviewing the
designer of the newest jefferson nickel:
"Joe Fitzgerald, a Silver Spring artist who dabbles in portrait
paintings and specializes in landscape pieces, is probably most
proud of the work he recently did on a canvas spanning less
than an inch wide.
His work will be found in people's pockets, car ashtrays and
between couch cushions beginning early next year when the
United States Mint releases two newly designed nickels,
Fitzgerald's recent project.
"It's beyond imagination to have 1.5 billion pieces of your art
out there," Fitzgerald said. "The idea that people will collect
these for hundreds and thousands of years is unbelievable."
Fitzgerald's design was among 144 submitted by U.S. Mint
sculptor-engravers and members of the Mint's new Artistic
Infusion Program."
"The first nickel, one of two that will be released next year,
was in part designed by a North Carolina artist, who depicted
an image of a grazing buffalo on one side to recognize
American Indians and wildlife encountered by the expedition.
The front side of the nickel, which will appear on the two
designs released, is of a newly designed Jefferson, created by
Fitzgerald.
The image includes a profile of Jefferson in the early 1800s
with his pointy nose and sharp chin. Next to him, "Liberty" is
written in Jefferson's handwriting. Fitzgerald said he wanted
to emphasize the former president's role in creating the
Declaration of Independence and defining liberty for the
United States.
"I wanted to convey the intelligence, the strength and the
incredible determination that you see in Jefferson's eyes,"
said Fitzgerald, 54.
It was a challenge to fit all of Jefferson' traits on such a small
portrait of one of Fitzgerald's greatest heroes, he said."
To read the full story, see:
http://www.gazette.net/200439/silverspring/news/236591-1.html
FOUR IDEAS FOR THE 2009 LINCOLN CENT
Dick Johnson writes: "Two Senators from Illinois have
expressed four ideas for the 2009 Lincoln cent the cent that
will honor the bicentennial of Abraham Lincolns birth and the
centennial of the introduction of the Lincoln Cent with Victor
David Brenners designs.
On Tuesday September 21, 2004, they announced they would
like to see the U.S. Mint create four separate designs for the
reverse of the 2009 cents: (1) Lincolns birth in Kentucky;
(2) his youth in Indiana; (3) a professional life in Illinois (where
he was lawyer and state lawmaker); and (4) the presidency in
Washington DC.
Senators Dick Durbin and Peter Fitzgerald made the
announcement which has the backing of the Lincoln Bicentennial
Commission. Durbin serves as the co-chairman of the commission.
I have written about this upcoming numismatic event previously
in The E-Sylum (latest: vol 7, no 28, July 11, 2004). I hope all
this is not just political talk, that Congress will authorize the
U.S.
Mint to do something really interesting for collectors."
This weeks story:
http://www.dailyherald.com/search/main_story.asp?intid=38252169
AUCTION ETIQUETTE
Steve Pellegrini writes: "I think that the recent discussion
about auction bidding is perhaps the most important and
potentially the most helpful subject we members have tackled
in quite awhile. I hope that both our Dealers and Collectors
will consider submitting their experiences, observations and
advice about participating in numismatic auctions. This is a
subject in which we all have a vested interest in fully
understanding and mastering - and which, I believe, we've
just begun to scratch the surface.
Because travel has become difficult for me over the last few
years I now exclusively participate in auctions as a Mail
Bidder or as an On-line Bidder. Even after years of bidding
in this way I still have enough questions to fill the space of
our Newsletter twice over. And I'm pretty sure that my
questions fall into the category of Frequently Asked Questions.
'Snaps' for Numsiguru Dick Johnson for providing his 10 Tips
For Bidding. (I've recently noticed that the teens in my family
are now using the term 'Snaps for' in the same way we might
use the term 'Kudos for.' Don't ask me the origin of this new
phrase. Any educated guesses out there? I may not make it
to the next edition of the OED and am curious."
One tip offered to dealers by an anonymous reader is:
"If you are upset by bidders always bidding the minimum
prices, don't publish them!"
TWENTY-CENT BOOK STILL MISSING
Regarding Lane Brunner's quest for the Rupp work on
Twenty Cent Pieces, American Numismatic Association
Librarian Nancy Green rites: "The library had a copy of this
booklet but according to the shelf list it was lost in 1983.
(Yes, we still have the old card catalog and shelf list with
lots of helpful information.) There is a note on the card that
says, "privately published in a limited edition of seven
copies." Another note in Lynn Chen's handwriting says,
"No more copies."
The library does have two copies of Paul Andersen's "The
Twenty-cent piece, an introduction to the series" (GB25.A6
1980, 13pp.). There was a Mr. Rupp in the membership
files but he is no longer a member and would be quite elderly.
So perhaps this illusive monograph can become the new
"Holy Grail" of numismatic literature. I will look for further
developments in The E-sylum."
PRICING AND BARGAINING
Regarding our earlier item about pricing in 99s, Henry
Bergos writes:
"Some years ago when I had my fabric store I decided
that "9's" were a trick. I marked all my "89" cents a yard
fabric 90 cents, 79 cent, 80 cents and so on. It HURT
my business! the people were so STUPID that they wanted
something in the "70's not 80's" etc. Back to 79 and 89 ...
Numismatists MUST bargain. It seems congenital. Some
years ago I decided to make all coins at my table net priced.
One jerk --- err--- gentleman asked about a BU war nickel.
I told him $8. "But how much is it for me?" "You see the sign
I made. All coins net priced." We can save time on the
arguing. He didn't buy it. Same next month, same guy.
Business DIED. Next month same jerk - err - guy, same
coin. "How much is this coin?" I said $12. He offered $10.
I said YES."
2005 ANA SUMMER SEMINAR
Dan Gosling send this recipe for a "2005 Dream Vacation"
at the next American Numismatic Association Summer
Seminar:
June 25
Arrive at Colorado Springs for Session 1 ANA Summer
Seminar. Gail Baker and her staff are sure to host another
FABULOUS week of education and entertainment. The
Summer Seminar is the numismatic bargain of the year.
June 26
Line up early for the ANA Library Spares Sale. Nancy Green
always provides the best opportunity each year to fill up your
empty shelves.
July 1
Celebrate Canada Day (like your July 4th) at the Colorado
Springs Coin Show. Summer Seminar attendees get in early.
After loading up on bargains at the coin show drive to the
old mining town of Cripple Creek and play the slots and
enjoy an inexpensive steak dinner.
July 2-8
Sight see the Colorado Rockies and visit Aspen, Leadville,
Vail and Estes Park on your way through Wyoming and
Montana. Cross the Canadian Border and stay in Calgary,
Alberta in time for the opening of the Calgary Stampede.
July 8-20
Tour Calgary, Banff, Lake Louise, Jasper and Edmonton.
World class scenery and the World's largest mall with 800
shops and service.
July 21-24
Attend the Canadian Numismatic Association annual
convention hosted by the Calgary Numismatic Society.
Learn why Canadian coins, tokens and paper money are
all the rage! View the numismatic collection at the Nickle
Arts Museum.
July 24
Drive to San Jose via the Rogers Pass, Vancouver, Seattle,
and the Oregon Coast.
July 27-31
Attend the ANA convention.
July 31
Drive back to Colorado Springs via Yosemite and Salt Lake.
If driving is not your thing, you could attend the second week
of Summer Seminar instead and fly to Calgary in time for the
rodeo and the CNA convention . Remember to rent a car
and do the loop through Banff, Jasper and Edmonton. Calgary
has lots of flights that will get you to the ANA convention.
Here's hoping you can find the time!"
CHRISTIE'S BOBBY MURDOCH SALE REPORTED
The Evening Times of Scotland reported on a recent football
memorabilia at Christie's in London. (that's "soccer" for us
ignorant Yankees).
"A MILLIONAIRE city businessman today revealed he had
spent £44,000 buying Lisbon Lion Bobby Murdoch's medal
collection.
The most expensive single item bought by former Parkhead
director Willie Haughey was the player's 1967 European Cup
winners' medal which cost £17,925."
"Today the businessman said he planned to pass all the
Murdoch items to the club museum for Celtic fans to enjoy."
"I will hand over the medals to the club museum, so all Celtic
fans can enjoy them for years to come.
"That was the main reason why I was so keen to bid for
them."
"Mr Haughey bought 28 other medals belonging to the Scottish
international during a sale of football memorabilia at Christie's
in London.
The collection includes a silver runners-up medal from the
Milan final along with three league championship medals and
four Scottish Cup winners badges."
To read the full article, see:
http://www.eveningtimes.co.uk/lo/news/5030807.html
NEW BOOKS ON HAMILTON AND NEW YORK HISTORY
Arthur Shippee forwarded reviews of two books which also
caught my eye. They are not directly numismatic, nor do they
dwell only on financial matters. But Ron Chernow's "Alexander
Hamilton", and Russell Shorto's "The Island at the Center of the
World." look like very interesting books related to the early
history of New York City and the roles played by the founding
fathers of the U.S. financial and monetary system.
The reviews are by Walter Isaacson and was published in
New York Magazine, 17 May 2004. Here are some
excepts:
"In addition to The Federalist Papers, Hamilton made one
other great contribution. As Washington's choice to be the
first Treasury secretary, he created the financial structures
that tied the nation together and made it, and New York, a
commercial power. The capital was then in lower Manhattan,
and on his second day in office, Hamilton arranged a large
loan from the Bank of New York. He then set to work on
a plan for the government's fiscal machinery, which resulted
in his famous 40,000-word Report on Public Credit."
"Hamilton wanted New York to become the nation's capital,
which likewise aroused Jefferson's opposition. The city was
so associated with Hamilton and his commercial vision that
his enemies called it Hamiltonopolis. "They saw it," writes
Chernow, "as an Anglophile bastion dominated by bankers
and merchants who would contaminate the republican
experiment." Washington and Jefferson were pushing instead
for a rural site alongside the plantations of the Potomac.
Realizing that Madison had the votes to block his cherished
debt plan, Hamilton was willing to trade away the capital as
a compromise. The stage was thus set for the most historic
dinner party ever held in Manhattan. Present at Jefferson's
rented house on Maiden Lane were Hamilton and Madison.
The Virginians pointed out that the plan unduly penalized their
state, which had paid off most of its debts. They would need
something in return: a national capital on the banks of the
Potomac.
In some ways, Hamilton struck the better bargain. The debt
plan determined forever that the states would be weaker than
the central government. Creating this foundation for federal
power and taxation in America was more important to
Hamilton than winning the capital for New York. Indeed, the
creation of vibrant financial markets helped make New York
what it is today, and helped New York make America what
it is today. In the realm of economics, if not politics,
Hamilton's New York vision of America would end up
prevailing. "He was the messenger of America's economic
future, Chernow notes, "setting forth a vision of an urban
manufacturing society."
"Hamilton had succeeded in binding the country together
under one central economic and fiscal system. Hamilton
had promoted a forward-looking agenda of a modern
nation-state with a market economy and an affirmative
view of central government," Chernow writes. "It was the
northern economic system that embodied the mix of
democracy and capitalism that was to constitute the
essence of America in the long run."
http://www.newyorkmetro.com/nymetro/arts/books/reviews/n_10365
MORE ON UNWANTED COINS
David Gladfelter writes: "Undoubtedly the Canadian "Loonie"
finds acceptance because it does not have to compete with the
paper dollar as does our "Cagi." The only argument for
retaining our paper dollar is inertia ... same reason the Canadians
have gone metric and we haven't.
When riding our local rapid transit I like to change $10 or $15
into dollar coins and then pass them out, one at a time, sort of
like a numismatic Johnny Appleseed. In Prague recently I traded
a Sacagawea dollar for the lovely Czech 10 and 20 korun
millennium commemorative coins. Made my day.
The Kennedy half dollar admittedly has <101 uses but here in
timely fashion is one of them. For Halloween treats we get a
few rolls of half dollars and put fright stickers on them. Some
of the kids have never seen this coin before. Others say "Wow,
I got an alien ... I got a Frankenstein ..." etc. No unwanted
candy or fruit to police up off the ground, and no hidden razor
blades or needles for their parents to worry about. Try it in
your neighborhood."
FEATURED WEB SITE
This week's featured web site is about the Canadian Loon dollar.
http://www.currencymuseum.ca/eng/learning/coins_loon.php
Wayne Homren
Numismatic Bibliomania Society
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