Crane Currency

Crane Paper Company, based in Dalton, Massachusetts, makes rag based paper for the Federal Reserve Note. They also make stationery.

Federal Reserve Notes made from Crane Paper Company paper

History

Stephen Crane was the first in the Crane family to become a papermaker. He sold currency-type paper to engraver Paul Revere, who printed the American Colonies’ first paper money. In 1801 Crane was founded by Zenas Crane, Henry Wiswall and John Willard. The company's original mill had a daily output of 20 posts (1 post = 125 sheets). Crane developed a method to embed parallel silk threads in banknote paper to denominate notes and deter counterfeiting in 1844.

In 1879 Crane grew when Winthrop M. Crane won a contract to deliver U.S. currency paper. In 1922 Crane & Co. incorporated, with Frederick G. Crane elected as president. In 1970 Crane’s pollution-control system won an award.

Crane remains the predominant supplier of paper for use in U.S. currency. Legislative attempts to open up the market to others have been defeated by action of Massachusetts' U.S. senators.

CEO

• Zenas Crane
• Winthrop Murray Crane
• Lansing Crane (sixth generation) took charge in 1995

External links

• Crane's Website
• Significant Dates in the History of Crane Paper Company