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|    alt.politics.economics    |    "Its the economy, stupid"    |    345,374 messages    |
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|    Message 343,614 of 345,374    |
|    davidp to All    |
|    American Bank Note Co.    |
|    16 May 23 22:39:42    |
      From: lessgovt@gmail.com              Robert Scot, the first official engraver of the young U.S. Mint, began the       company that would eventually grow into a high security engraving and printing       firm, the American Bank Note Co.              Founded in 1795 as Murray, Draper, Fairman & Co. after Scot's 3 partners, the       company prospered as U.S. population expanded and financial institutions       proliferated. Its products included stock and bond certificates, paper       currency for the nation's        thousands of state-chartered banks, postage stamps (from 1879-1894), and a       wide variety of other engraved and printed items. Two security printers       absorbed into the ABN in 1879 produced U. S. Postage stamps between 1861 and       that year: the National Bank        Note Co. (1861-73) and the Continental Banknote Co. (1873-79).              On April 29, 1858, following the Panic of 1857, seven prominent security       printers merged to form the American Bank Note Co. The new company made New       York City its HQ. Less than two years later, the remaining handful of       independent bank note printers        merged to form the National Bank Note Co.              To be close to the stock exchanges, brokerage firms, and banks in lower       Manhattan, the American Bank Note Company established its headquarters in the       Merchants Exchange Bldg at 55 Wall St. in Manhattan. The company moved its       office and plant to 142        Broadway (at the corner of Liberty St.) in 1867, to another new facility at       78–86 Trinity Place in 1882, and again to 70 Broad St. in 1908.              The first federally issued paper currency was circulated by the US Treasury       Dept following the outbreak of the Civil War. Congress passed authorizing       legislation for $60 million worth of these "Demand Notes" on July 17 and Aug.       5, 1861. Under contract        with the govt, the novel paper money, called "greenbacks" by the public, was       produced by the American Bank Note Co. and the National Bank Note Co. A total       of 7.25 million notes were produced in denominations of $5, $10, and $20.       American and National        were also producing paper money for the Confederacy at the same time.              Following the initial production of U.S. currency by the government's Bureau       of Engraving and Printing in 1862, ABNCo sought a new business abroad. The       company eventually supplied security paper and bank notes to 115 foreign       countries.              In 1877 Congress mandated that the U.S. Bureau of Engraving and Printing be       the sole producer of all U.S. currency. The security printing industry,       finding a good deal of its work had evaporated, accordingly underwent a second       major consolidation in 1879,        as American absorbed the National Bank Note and Continental Bank Note       companies. At the time of the merger, Continental held the contract to produce       U.S. Postage stamps, and this production continued under American.              In 1887, ABNCo won the second four-year contract to engrave and print postal       notes for the U.S. post office. (New York's Homer Lee Bank Note Co. produced       these notes during the first contract period.) American assigned Thomas F.       Morris, its Chief        Designer, the task of re-designing this early money order. The paper for this       contract (as for all Postal Notes and a massive number of official U.S. high       security documents) was produced by Crane and Co. of Dalton, Mass.              In 1891 the American Bank Note Co. began producing a new form of negotiable       instrument for a longtime customer: the American Express “Traveler's       Cheque” demand notes. In its first year, American Express sold $9,120 worth       the product.              In 1894, ABNCo completed the final contract for the private printing of       American stamps. Perhaps the most popular were the Columbian Issue, one cent       to $5 issues commemorating the voyages of Christopher Columbus and the       1892–93 Columbian Exposition in        Chicago (for which they also printed the admission tickets). On July 1, 1894,       American delivered its entire stamp-producing operation to the U.S. Bureau of       Engraving and Printing in Washington, D.C., where U.S. stamps were still       printed up into the 1990s.              https://en.wikipedia.org/wiki/ABCorp              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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