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July 19, 2023

Benjamin Franklin was an inventor, publisher, scientist, diplomat, and U.S. founding father. Now thanks to a team at the University of Notre Dame, we know how he worked to combat a big problem in his day the constant threat of counterfeiting money.

Franklin was an early innovator of printing techniques that used colored threads, watermarks, and imprints of natural objects such as leaves to make it far harder for others to create knockoffs of his paper bills.

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Franklin succeeded in thwarting would-be criminal efforts with his early printing techniques, 126 years before President Abraham Lincoln created the U.S. Secret Service to suppress widespread counterfeiting following the Civil War.

A research team at the University of Notre Dame used advanced scanning that reveal some of Franklin’s methods in greater detail.

The team’s research was published Monday in the Proceedings of the National Academy of Sciences. The data was gathered with techniques such as spectroscopy and fluorescence tests, which use light to identify elements such as carbon, calcium, and potassium in test samples.

Lead author Khachatur Manukyan, a Notre Dame associate professor of physics, said the intent was to learn more about the materials used by Franklin and his network of affiliated printers and how they served to distinguish their bills from cheaper copies.

“The goal was to decode what type of material they used,” Manukyan said in an interview. “And then we found some very interesting differences between this money and other printers.”

The researchers studied Franklin’s use of watermarks on bills. These tiny indigo-dyed threads and “fillers” of special crystal in the printed bills were created as obstacles for counterfeiters. 

These fillers also were printed on better paper which made the bills last longer in circulation. Franklin’s dyed threads made it even more difficult for criminals to try to reproduce since they used cheaper paper and printers with lesser skills.

The published study also highlights Franklin’s use of “nature printing,” a technique by which he transferred the detailed vein patterns of tree leaves to printing plates.

The Notre Dame research team also found that Franklin used his own graphite-based ink, instead of the more common ink used at the time known as “boneblack” which was made by a process of heating animal bones.  

Counterfeiting would grow to such an extent during the Revolutionary War, mainly due to the British Army, that even after winning its independence, the newly-formed U.S. government would give the nod to producing gold and silver coins rather than printed bills. The first coins were struck in 1791. 

The government did not issue paper money until 1861 during the first months of the Civil War when Congress authorized the printing of dollar bills called “greenbacks.”

The use of Franklin’s colored threads remains in use today even though in a more modern form. Today’s U.S. currency features an embedded “security thread” in bills denominated $5 or more. However,  it’s now a thin vertical band that fluoresces under ultraviolet light.

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Guardians’ Arias carted off field with ankle injury

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Guardians' Arias carted off field with ankle injury

CLEVELAND — Guardians shortstop Gabriel Arias was taken off the field on a cart after sustaining a left ankle sprain in the third inning of Sunday’s game against the St. Louis Cardinals.

X-rays were negative, and there was no word on the severity of the sprain.

Arias went deep into the hole to field a grounder hit by Masyn Winn with one out, but caught his left spike on the grass and awkwardly rolled his ankle. The ball wound up in left field for a single.

The 6-foot-1, 200-pounder immediately grabbed his lower leg and remained prone on the field for several minutes. He was fitted with an immobilizer before being lifted onto the medical cart that drove him off the field.

Arias is batting .231 with six homers and 31 RBIs in 77 games. This is the 25-year-old Venezuelan’s first full season as a starter.

The Associated Press contributed to this report.

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Sports

Astros’ Peña misses second game with rib injury

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Astros' Peña misses second game with rib injury

HOUSTON — Astros shortstop Jeremy Peña was held out of the lineup for a second straight game Sunday.

Peña continues to make progress after leaving the Astros’ win over the Chicago Cubs on Friday in the fifth inning because of rib soreness, manager Joe Espada said.

Peña was hit in the ribs by Cade Horton‘s pitch during the second inning Friday. Imaging did not reveal a fracture, and Peña has been able to swing a bat the past two days.

“It’s just still pretty sore, so no need to rush to get him in there,” Espada said.

The Astros are off Monday before starting a series in Colorado on Tuesday.

Peña played in the Astros’ first 82 games of the season and batted .322 with 11 home runs and 40 RBIs.

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KKR leads £1.7bn race for Argos store-card owner NewDay

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KKR leads £1.7bn race for Argos store-card owner NewDay

The private equity firm at the centre of a string of bidding wars for British companies is leading the £1.7bn race to buy the owner of Argos’s store-card operations.

Sky News has learnt that KKR is the frontrunner to buy NewDay Group, which is owned by the buyout firms Cinven and CVC Capital Partners.

KKR is not in exclusive talks, and other parties – said to include Pimco, the asset management giant, KKR, and a Bain Capital-led consortium – remain in contention to acquire NewDay.

Some of the bidders, such as Pimco, have been interested in pursuing a deal to buy NewDay’s consumer loan book rather than the company as a whole; others including KKR are understood to be interested in acquiring the whole business, but potentially with its existing shareholders remaining invested for a period of time.

NewDay, which took ownership of Argos’s store card business last year in a £720m deal with J Sainsbury, the supermarket giant, has been exploring a sale or stock market listing for months.

Last November, Sky News reported that NewDay’s owners were lining up investment bankers at Barclays to advise on a process.

NewDay is one of Britain’s biggest privately held providers of consumer credit services, with about four million customers.

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Last year, it reported £213m of underlying pre-tax profit, with new customer acquisitions up 36%.

It also launched a technology and lending partnership with Lloyds Banking Group, and launched the pilot of a technology partnership with Debenhams Group in the final quarter of last year.

KKR has become engaged in bidding wars in recent months for Assura, the GP surgeries landlord, and testing equipment provider Spectris – both of which are listed on the London stock market.

NewDay, KKR and CVC declined to comment.

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