On perfect banknotes

On perfect banknotes

I refer to John R. Kerr's letter The perfect banknote of May
20.

If I remember correctly, my first experience of having
greenbacks reduced in value (by one half or one percent depending
on their "imperfection"), or rejected was some 15 years ago in
the mid-1980s.

John Kerr may be surprised to hear that it was The Chase
Manhattan Bank in Jakarta that dealt me the jolt. So, it is not
necessary for him to "have an explanation of this by an
Indonesian monetary expert to ease his bewildered mind". There is
apparently a better source of information -- although this is no
guarantee to alleviate his bewilderment -- because most banking
people assume the same attitude everywhere in the world.

The rejection of less-than-perfect-banknotes became widespread
over the years. John Kerr omits to mention that older US$100
banknotes are generally not accepted here, although some local
banks (apparently not the foreign banks in Jakarta!) give them an
equal value to the kepala besar (those with a bigger portrait in
the middle) banknotes, which were issued more recently.

S. HARMONO

Jakarta