The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-28
COUNTING THE COIN.

Making Things Square at the Sub. Treasury
Sixty Millions Of Gold Dollars Bctng
Counted and Transferred. g'nl a1ofrifsa
BY wise provision OF the laws which apply TO the
financial department Of our government the moneys
tile SubTreasury OF the United States In this city
have to be carefully counted whenever Treasurer 10
appointed to tread the golden walk OF his predecessor
and to assume charge OF the immense funds depos-
tied In the marble building In Wall street. In order
to enable the outgoing Treasurer to trans
fer his trust to his successor with clean
skirts, and to enable the latter to assume
control without any haunting suspicion OF an undis
covered deficiency In the Treasury deposits,
every ten cent stamp and BILL every piece OF silver,
every piece and bar Of gold ana every coin must be
carefully counted and weighed II Is not always
necessary, however, to count every lot OF species
he system OF weighing the precious metal is SO
rect that the tedious process Of counting each and
every individual coin Is rendered unnecessary. In
order that no possible opportunity for robbery may
be afforded, the most complete and careful precau.
tons are taken by the Treasury officers, and con-
Jointly by those selected to watch the interests of the
incoming and outgoing Sub Treasurer and hence 1t
Is that the result OF the count OF the money deposits
IN the Sub-Treasury vaults are on every occasion,
when count IL ordered, found to be perfectly cor
rect.
The counting Of the moneys depositedin the Sub
cumbency Of Judge Folger was no small matter to
undertake. The paper money, bullion and silver
coin having been counted and found correct, the
committee OF the Treasury, MeSsrs. Moore, Bigeow
ana parneioMr HalghI o. the Bank OF the Com
pan, OF the Gallatin National Bank, acting for Mr.,
Hiilhouse-commenced counting the gold coin on
the boxes in which the metal Is kept $75.0oO,0OO OF
various denominations, In canvas bags, properly
labelled. Mr.. Parnen has full charge OF the vault
while the count Is being made, and when 1t Is
cluded Mr.. While, the polite and accomplished
turned over to him. About feen Millions Of DOL
lars have been counted, and sixty millions yet
remain TO undergo the scrutiny Of the examiners.
Twelve days HOm the commencement Of the count
is estimated as the time In which this important
work will be concluded. Last November the work
progressed az the rate OF $I0000000 to 49, 000 900
per day, but this ine owing TO the dreadful heat OF
the weather. although the same number OF men are
employed not more than So 900 can he counted
per day. Considering the great importance to the gov
eminent, to Judge Folger and Assistant Treasurer
HiIhouse OF an accurate count few days additional
delay Will not be considered Of much moment. The
final result as Indicated by those OF former years
ana by the actual tests taken thus far on this Occa
sion, fully indicates that the amount OF coin In the
Treasury, by actual count win be the same to the
dollar as is Indicated on the books OF the cashier
vaults OF the Sub.Treasury by permission ana
through the courtesy OF the cashier, Mr. Smith, and
ing the COIN. The scene has several times been de.
scribed but the following notes Will be found inter-
The gold is kept locked In closets or compartments
in the vaults, each, chest containing 100000, or
nearly ton. One OF the compartments Is opened at
time and the coin. which is IN bags each contain
ing 200, Ia placed upon truck and thus carried,
carefully guarded TO prevent any "grab games" to
the gold room, which is In the northwest corner Of
OF the building In this room are several accurately
adjusted scales One OF the bags is taken at random
from the truck, opened and the contents counted
piece by piece. II found correct the god Is poured
into one pan Of the scale and INTO the other Is empted
the contents Of another bag II the poise is equal
II Is assumed that the contents OF the Sec
Ond bag are correct. II should be
unequal the coin is taken to the Table and
counted piece by piece and examined carefully for
light coins. When inc test is thoroughly applied the
resulos pronounced satisfactory and the coin re-
turned 70 The bag which Is tied and Is then ready
for return to its place. The first weighing generally
shows an equal pOise, ana the process proceeds
rapidly. When truck 1ull has been examined the
coin Is returned TO the vault placed in the Chest and
the compartment Is then closed and sealed with
wax in such manner that it cannot be tempered
with Upon the ''tag' are written the names OF the
examining committee, as above, The representatives
of the incoming and retiring assistant treasurers
and the superintendent Of the Assay ONCE.
The Iaborcrs employed in handling The trucks and
in handling the bags Of gold are men carefully
lected for that duty and under strict surveillance
all the time, from nine O'Clock in the morning when
the work commences, until three O'Clock In the
afternoon, when the days work Is brought u close.