The federal government was compelled to respond to this growing illegal enterprise, which represented a threat to both the national economy and the federal government's authority to control the currency. In 1865 it created the Secret Service - an agency that over the next forty years, would eradicate counterfeiting as a major urban crime.
Prior to the Civil War, the United States did not have a single, national currency. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by freewheeling capitalism and little government control. Mihm shows how eventually the older monetary system was dismantled, along with the counterfeit economy it sustained.
Chronicles the lives of three colorful counterfeiters whose schemes reflected the culture of early America, describing their backgrounds and how they exploited period politics, economics and law enforcement to promote their operations.
A key mission of the Bureau of Engraving and Printing of the Department of the Treasury is the design and printing of U.S. banknotes. The BEP is responsible for producing easily recognizable currency that is difficult to counterfeit. In recent years, the bureau has recognized the modern information technology could lead to entirely new types of counterfeiting threats, and it has requested a number of studies by the NRC to assess these evolving threats. In this new request, the BEP asked the NRC to identify and evaluate significant emerging counterfeiting threats and to assess technologically feasible counterfeit-deterrent features for potential use in new designs. This first report provides an assessment of emerging threats including a wide range of digital imaging and printing techniques. It also presents an analysis of a systems approach to the counterfeiting threat. The second report will offer an evaluation of new banknote features to address these threats.
Fakery, authenticity, and identity in American literature and culture at the turn of the 20th century Focusing on texts written between 1880 and 1930, Mary McAleer Balkun explores the concept of the “counterfeit,” both in terms of material goods and invented identities, and the ways that the acquisition of objects came to define individuals in American culture and literature. Counterfeiting is, in one sense, about the creation of something that appears authentic—an invented self, a museum display, a forged work of art. But the counterfeit can also be a means by which the authentic is measured, thereby creating our conception of the true or real. When counterfeiting is applied to individual identities, it fosters fluidity in social boundaries and the games of social climbing and passing that have come to be representative of American culture: the Horatio Alger story, the con man or huckster, the social climber, the ethnically ambiguous. Balkun provides new readings of traditional texts such as The Great Gatsby, Adventures of Huckleberry Finn, and The House of Mirth, as well as readings of less-studied texts, such as Walt Whitman’s Specimen Days and Nella Larsen’s Passing. In each of these texts, Balkun locates the presence of manufactured identities and counterfeit figures, demonstrating that where authenticity and consumerism intersect, the self becomes but another commodity to be promoted, sold, and eventually consumed.