Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1863-01-02
The Government Currency.

IN congress, that the reason why our sol
diers are not paid is to be found in the
lax and slovenly manner in which the
work of supplying the paper money has
been performed by the two principal
Bank Note Com 9anies in this city. The
assertion has been several times repeated
that the "great delay" in printing this
currency is The sole cause of the cruel
and dsgraceful treatment which our SOL
diers have received. The majority OF
these statements can be traced to certain
interested parties, who first sought to con.
troll this work themselves, without any
proper means Of executing it, and are
row urging the government TO establish
an enormous engraving and printing es-
adjustment at Washington, in the hope,
doubtless, of figuring to advantage in its
management.
The work ordered by the treasury de-
partment Of the New York companies
has been immense, but it has been exc.
cuted with a rapidly unexampled in the
history of bank note printing. The
American Bank Note Company, which
in its establishment swallowed up seven
large firms, ard the National Company,
a comparatively new and iyal establish.
ment, have not only increased their pro-
ductive power enormously, to meet the
pressing exigency, but have actually pro-
dueed the most astonishing quantity of
of these treasury obligations.
We speak not at random, They have
made vast additions to their means oil
production, and are working from each
press so per cent. more impressions per
day than was formerly considered full
days work Let US see lille what
what there was to do and how far they
are culpaLle. The secretary Of The treas
ury has ordered the following amounts OF
currency:
Old demand notes, 100000. 900.
Seven and three tenth notes, l50, 900, 900.
Legal tender
notes. S300000,0O0
Less reserve to
meet deposits, 100000 2jO.o0O,o00|
Total available ordered s160,000,000
Actually printed to date and
d-llvered, $4,000. 600
Still to be delivered, availa.
bic, S25.000O00
Here, out Of four hundred and sixty
millions of treasury obligations ordered
there have been printed and delivered to
the government four hundred aud thirty
five million dollars, leaving only twenty
i've millions to be done. These would |
have been completed but for the fact that
they were wanted in small denomination, |
for convenience Of change, and these
small notes count up slowly. In addition
to all this, these companies have furnished I
the blanks for the regular stocks, and are
now also engaged upon the postal cur
rency, upon which they are employing
about two hundred presses. or this the
production already reaches five million Of
dollars and this must be considered ra
pid work when it is remembered that the
bills are in fractions of dollar. The
ielay in the payment of the soldiers Is
nexcusable, and the fault does not rest
with the bank note companies. If it did,
he substitution of irresponsible politi
liars for companies of high character and
we'll known integrity would not remove
he evil. But the clamor about the print
ng has other objects than simply TO shield
he paymasters from blame, and the move.
nents in this direction will bear watching.
N y Jour. Commerce.