7 Matching Annotations
  1. Feb 2024
    1. The man who solved the problem was an American chemist, who alsocontributed to the Dictionary, Thomas Sterry Hunt. In 1857, he had beenteaching at Laval University in Quebec and responded to an appeal by thePresident of the Montreal City Bank who was battling counterfeit notes. Huntcreated a special green ink, using chromium sesquioxide, that was pretty wellindestructible. Numerous experiments showed that you couldn’t remove itfrom the banknote without destroying the paper itself – until one chemistsucceeded in doing so, and the Canadians dropped Hunt’s invention. But theAmericans took it up, especially on the back of their banknotes, hence thecolloquial term ‘greenbacks’ for US dollar bills, which was given its own entryin the OED in 1900 and defined as ‘the popular name for one of the legal-tender notes of the U.S., first issued in 1862 and so called from the devicesprinted in green ink on the back’, alongside something rather topical at thetime but now archaic, Greenback Party, defined as ‘a party in U.S. politics,which advocated that “greenbacks” should be made the sole currency of thecountry’, and its various derivatives Greenbacker and Greenbackism.
    2. As long as money hasexisted, the problem of counterfeit currency has too, but it became aparticular problem once printed notes went into general circulation. Ineighteenth-century North America, Benjamin Franklin – who owned a firmthat printed money for several of the colonies – hit on the idea of misspellingPennsylvania on official currency, on the grounds that forgers would spell it

      correctly and the notes could easily be spotted as counterfeit, but that only went so far.

  2. Nov 2021
  3. Sep 2021
    1. y. Already, in 1796, the trade was complaining at the competition of French and Swiss watches; the complaints continue to grow in the early years of the nineteenth century. The Clockmakers' Company alleged in 1813 that the smuggling of cheap gold watches has assumed major proportions, and that these were sold by jewellers, haberdashers, milliners, dressmakers, French toy-shops, perfumers, etc., "almost entirely for the use of the upper classes of society".

      I wonder at the history of counterfeit goods. At what point in a market does it typically begin to happen? Is there some level of profit margin which kicks in due to lack of competition? What are the effects of brand within the space of fashion?

  4. Sep 2017
  5. Jul 2016