Paper and Watermarks : Page 172
Generally the watermarks used on paper on whichpostage stamps are printed are very small designs, oftenarranged so that at least one complete design will fallon every printed stamp. In some instances the water-marks are so placed on the paper that each completeddesign will fall exactly upon each individual stamp.Hence, some of the early stamps of Great Britain willshow a watermark consisting of a tiny rose, a thistle,and a shamrock, each of which appears in one of thecorners of the stamp. An early Mexican envelope showsa very beautiful watermark of the coat of arms of thecountry so placed that it falls exactly within the centerof the finished envelope. Such watermarks require carefulplacement of the bits upon the dandy roll and meticulousregistering of his plates by the printer.