Message:

<p>[QUOTE=&quot;Numbers, post: 1379060, member: 11668&quot;]I&#039;ve heard that from multiple sources too, but those sources are wrong.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" /></p><p><br /></p><p>Here&#039;s the explanation direct from the *original* source:</p><p><br /></p><p><br /></p><p><br /></p><p>If anyone at the Treasury in 1969 had thought they were fighting crime by taking this action, you can bet that they would&#039;ve patted themselves on the back by highlighting that fact in the press release.&nbsp; Such effects just weren&#039;t on their radar at the time....</p><p><br /></p><p>By the way, I got that press release from the O&#039;Donnell book, which also provides the following statistics on the number of high-denomination notes outstanding:</p><p><br /></p><p>As of 12/31/1945:</p><p>$500: 903,404</p><p>$1000: 797,852</p><p>$5000: 1,405</p><p>$10000: 2,327</p><p><br /></p><p>As of 12/31/1968:</p><p>$500: 488,295</p><p>$1000: 291,894</p><p>$5000: 634</p><p>$10000: 383 (and 100 of those were at Binion&#039;s Horseshoe!)</p><p><br /></p><p>So despite the inflation, and population growth, that had occurred during those 23 years, the usage of these denominations had declined sharply.&nbsp; The lack-of-demand explanation fits the facts.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in