Evening Republican, Volume 21, Number 21, Rensselaer, Jasper County, 26 January 1917 — New Issue of One and Two Dollar Greenbacks Coming. [ARTICLE]

New Issue of One and Two Dollar Greenbacks Coming.

A new issue of the one and two dollar greenbacks of civil war days discontinued more than thirty years ago, will be put into circulation, probably about Feb 1, displacing similar U. S. notes of larger denominations to provide relief from the unprecedented demand for small paper money. The treasury department announces that the issue had been decided on because silver certificates, the ordinary bills of one and two dollar denominations? could mot be issued under the law in sufficient quantity to meet the demand. A limit of $346,681,016 to the amount of outstanding federal-notes was fixed by law in 1878 after the greenback had become an issue in politics and had resulted, in the birth of a new national party, hacked largely by faimers of the west and south. No greenbacks have been issued since 1885 and the amount of outstanding $1 and $2 notes of that variety now is slightly over $3,000,000. There is, however, $102,445,300 outstanding in United States notes of $lO denominations and higher, and a portion of these will foe retired and cancelled, dollar for dollar, to meet the new issue of smaller denominations.