This process of increasing the number of bills from a given quantity by piecing—as making ten bills out of nine—appears to be done—as seen in a specimen lately—by cutting off perpendicularly a piece, one ninth of a bill, and pasting in its place a piece of a counterfeit on the same bank and denomination to match. The same process will be then carried on with the nine bills, only that in each bill the piece would be cut out in a different place. When the nine bills are thus all pieced there would be just enough surplus pieces left of the genuine to paste together with one piece of the counterfeit to make a complete bill like the rest, and this would be the profit on the operation. The counterfeit part of the bills appeared to be intentionally defaced, so as to be nearly illegible, in order to escape detection. The banks will only redeem such bills at their estimated proportionate value.