(3) Collusion with Crime and Criminals.—This was another grave allegation proved against certain of the New York police. It was shown that they were hand-in-glove in one nefarious practice at least—that known as the “green goods trade,” a species of confidence trick played upon the unwary fool, and a very profitable game to the side which invariably won. “Green goods” are forged or counterfeit banknotes, passed off as genuine and sold for a song on one of two pretences to those who would buy them. The first, that there had been over-issue of paper currency by the Treasury, and the notes were, therefore at a discount; the second, that the plates from which the notes were struck had been stolen from the Government, hence they could be offered cheap.
The business, which seems to have been invented by one McNally, commonly called “King McNally,” was so ingenious that some account of it may be given here. Seven principal actors were needed, and they were:
(i.) The “Backer,” or capitalist, who was wanted to supply genuine notes to a large amount, which had to be produced when the swindle was started and the fish was on the hook.
(ii.) The “Writer,” who sent out the circulars which constituted the bait.
(iii.) The “Bunco Steerer,” who was despatched, often to a considerable distance, to get the nibbling victim in tow.
(iv.) The “Old Man,” a personage of benign and most respectable aspect, who had to sit in the room when the fraud was being carried out.
(v.) The “Turner,” who did the bargaining and sold the bogus notes.
(vi.) The “Ringer,” a sleight-of-hand artist who effected the exchange, at a given moment, between the genuine notes displayed and the shams palmed off on the fool.
(vii.) The “Tailer,” a species of bully employed to get rid of any dupe who, having discovered the swindle, returned to expose it.