Section 27. Whoever has in his possession at the same time five or more bank bills or notes not current which are worthless as bank bills or notes, knowing the same to be worthless as aforesaid, or has papers not bank bills or notes, but made in the similitude thereof, or papers purporting to be the bills or notes of a bank which has never existed, knowing the character of such papers, with intent to pass, utter or circulate the same, or to procure any other person so to do, for the purpose of injuring or defrauding, shall be punished by imprisonment in the state prison for not more than five years, or by a fine of not more than five hundred dollars and imprisonment in the house of correction for not more than two and one half years.