FISCAL: Million Dollar Certificate

Last week the Treasury prepared to print its biggest negotiable security—a $1,000,000 certificate. Ordinary currency stops at the $10,000 bill bearing the portrait of Salmon Portland Chase, Secretary of the Treasury (1861-64), Chief Justice of the U. S. (1864-73). U. S. bonds are not issued for more than $100,000. About four times the size of a dollar bill and engraved on the same paper stock, the $1,000,000 certificates—there will be 500 of them—will be used for the Treasury's short term financing of a year or less. On each will appear blanks for...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!