I hate to differ with Mike, but I think you're talking about a version of George Starke's "Hornswoggled". Originally published in Hugard's Magic Monthly and later varied and republished in numerous journals. Somebody please correct me if I'm remembering this wrong.
The bulldog clip is a very clever way of displaying the bills for this effect, and the combination of 5's and 1's is characteristic of "Hornswoggled". However, I know Kaps also did the Victor "11 card trick" with bills, in that case, all the same denomination, and in the manuscript released on that trick, he states that he used to clip the bills together. So there's a chance it was the Victor trick you saw.