Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.3 4.3bsd-beta 6/6/85; site ucbvax.BERKELEY.EDU Path: utzoo!watmath!clyde!burl!ulysses!ucbvax!brahms!weemba From: weemba@brahms.BERKELEY.EDU (Matthew P. Wiener) Newsgroups: net.legal,net.politics Subject: Recall $100 bills? Message-ID: <12590@ucbvax.BERKELEY.EDU> Date: Sun, 23-Mar-86 07:16:15 EST Article-I.D.: ucbvax.12590 Posted: Sun Mar 23 07:16:15 1986 Date-Received: Tue, 25-Mar-86 03:33:47 EST Sender: usenet@ucbvax.BERKELEY.EDU Reply-To: weemba@brahms.BERKELEY.EDU (Matthew P. Wiener) Organization: University of California, Berkeley Lines: 31 Xref: watmath net.legal:3160 net.politics:14115 The following article is reprinted in its entirety from the 21 March 1986 issue of the San Francisco Chronicle (without permission): --------------------------------------------------------------------------- KOCH SEEKS RECALL OF ALL $100 BILLS New York Mayor Edward Koch wants President Reagan to pull $100 bills out of circulation because the notes are "the backbone currency of drug traffickers." In a letter to Reagan dated Wednesday, Koch recommended that all $100 bills be eliminated and that a redemption program for the currency be set up. "It has been our experince in New York, and your own Comminsion on Organized Crime will confirm that it is so around the country, that $100 bills are the backbone currency of drug traffickers," Koch wrote. The redemption program proposed by Koch would require that those who turn in more than $10,000 in $100 bills be required to explain how they acquired the currency. The figure was chosen because banks, under federal law, are required to report any cash transaction over $10,000, said Larry Silverburg, a spokesman for Koch. "A program of this kind would not only have a dramatic impact on the way the drug business is currently conducted, but might also have a deterrent effect on the underground cash economy," Koch wrote. United Press ucbvax!brahms!weemba Matthew P Wiener/UCB Math Dept/Berkeley CA 94720