Plastics News - Show Daily - October 18, 2023 - 11

FAKUMA SHOW DAILY
Plastics News, October 18, 2023 * 11
had the company name, the denomination
and a fl oral design.
The back stated that these notes
must be exchanged for French
francs by Dec. 31, 1871, or they
would become worthless.
World War I created similar
coin shortages, resulting in many
companies issuing low denomination
coins and banknotes.
Merck is the oldest continuously
operating chemical company
in the world, founded in 1668.
During WWI, the company issued
both coins and paper money
called notgeld - not=emergency,
geld=money. Pictured on front of
the 5-pfennig note was its plant in
Darmstadt. The back had a glass
laboratory distillation beaker.
Wacker Chemie was established
in 1914 in B├╝rghausen, Germany,
by Alexander Wacker, who did
extensive work in carbide (coal)
chemistry. The B├╝rghausen factory,
which began operations in
1916-17, was the fi rst world-scale
plant to commercially produce
acetone, acetic acid and acetaldehyde.
Its 10-pfennig coin is called
" kleingeldersatzmarke " (small
substitute money marks).
Economic chaos
Germany was in economic chaos
following its loss in WWI. The
Treaty of Versailles mandated
that Germany pay reparations for
the entire cost of the destruction
caused by the war. Over time,
Germany could no longer pay this
debt. It reached its zenith in 1923,
resulting in hyperinfl ation as the
he realized that best way to be
an economical producer of dyes
was to participate in the whole
production chain from raw materials
and auxiliaries through precursors
and intermediates to the
various dyes.
In April 1865, Engelhorn founded
Badische Anilin- & Soda-Fabrik
(BASF), which became the fi rst
fully integrated chemical company
in the world. In October 1923,
BASF issued a 1 billion (thousand
million) mark note that was
overprinted on a now-worthless
1,000 mark note originally issued
one year earlier.
government continued to print
currency with no backing.
Prices rose daily at geometric
rates. For example, on Jan.
2, 1922, a loaf of bread cost 175
marks. On Jan. 2, 1923, the cost
was 160,000 marks. In December,
the cost was 4.2 trillion marks.
Infl ation was so rapid that new
banknotes couldn't be designed
and printed quickly, so older
banknotes that were basically
worthless were overprinted with
new values.
Solvay Fakuma 2023 - Half Page Ad_A3.pdf 3 9/14/23 4:31 PM
In 1861, Friedrich Engelhorn
began producing fuchsin (magenta),
a red dye, and aniline, the
raw material obtained from coal
tar. As his business progressed,
At the same time, German
chemicals fi rm Bayer issued a
1 billion (Milliarde) note overprinted
on a now-worthless
500,000 mark note originally issued
Aug. 1, 1922. The note features
the Bayer logo at the time:
a winged lion (griffi n) holding a
globe.
Bayer was founded in 1863 by
dye salesman Friedrich Bayer
and master dyer Johann Friedrich
Weskott
for
the
manufacturing
and selling of synthetic dyes. From
1881 to 1913, Bayer developed
into a major chemical company
with international operations with
a strong focus on R&D. Some of
the products that were developed
included aspirin, polycarbonate
and polyurethanes.
The Great Depression (1929-33)
created worldwide economic collapse.
Throughout the U.S., cities
and companies issued coins and
banknotes. One of the most interesting
and unusual issues came
About the author
Robert Bauman began his
58th year in the petrochemical
industry in 2023. After graduating
from the Polytechnic Institute
of Brooklyn (now part of
New York University) in 1966, he
moved to Houston for his first
job at the La Porte, Texas, plant
of U.S. Industrial Chemicals
(now part of LyondellBasell),
which made polyethylene resins
and vinyl acetate.
In 1972, Bauman transferred
Bauman
from Dow Chemical Co. The coin
is made of magnesium.
At the time, Dowmetal accounted
for more than 90 percent of
world magnesium production.
The front of the coin has the Dowmetal
logo and the text that requires
the coin to be used before
March 1, 1933.
The back of the coin has a pine
tree, cornucopia and a brine well
from which magnesium was obtained.
Pine trees were used to
produce chemicals for ink, paints
and coatings, adhesives, soaps
and detergents, fragrances, chewing
gum and pine oil disinfectants.
The cornucopia was reminder
that the U.S. had an abundant
supply of produce - and that
good times were ahead.
to USI's strategic planning group
in New York. In 1980, he joined
consulting fi rm Chem Systems
(Nexant), where he was vice
president of the polymers business,
responsible for the Americas
and Asia. Bauman retired
from Nexant in 2008 to start
Polymer
Consulting
International,
his own consulting fi rm,
which is still operating.
In June, Bauman celebrated his
80th birthday, and in August he
marked the 15th anniversary of
PCI. With Chem Systems, he frequently
traveled internationally
and began collecting paper money.
When he retired in 2008, Bauman
owned more than 13,000 different
world and U.S. banknotes.
The collection, consisting of
more than 550 items, has been
donated to the Science History
Institute museum in Philadelphia.
It can be accessed at www.
sciencehistory.org under Midon
Othmer Library with the search
term Bauman.
C
M
Y
CM
MY
CY
CMY
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Meet us at Solvay booth
in Hall B4, Booth 4213
October 17 - 21
Friedrichshafen
Making life smarter,
safer and easier for all
Discover our
consumer good solutions
http://www.sciencehistory.org http://www.sciencehistory.org

Plastics News - Show Daily - October 18, 2023

Table of Contents for the Digital Edition of Plastics News - Show Daily - October 18, 2023

Plastics News - Show Daily - October 18, 2023 - 1
Plastics News - Show Daily - October 18, 2023 - 2
Plastics News - Show Daily - October 18, 2023 - 3
Plastics News - Show Daily - October 18, 2023 - 4
Plastics News - Show Daily - October 18, 2023 - 5
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Plastics News - Show Daily - October 18, 2023 - 11
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