The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-09-04
STOLEN BANK BILLS.
is THE GOVERNMENT THE BANK, OR THE NOTE

rs THE GOVERNMENT, THE BANK, OR THE NOTE
HOLDER TO BE THE LOSER?
In connection with the robbery of the National
Barre Bank of Washington county, Vermont, full
account Of which appeared in the HERALD Of Monday,
there arises some questions which of more than
ordinary importance not only to the banking interests
of the country but to the community at large II will
be remembered that the only plumber the robbers of
the Barre Bank able to get away with pack
containing about SIS, 900 in bank notes which had
been received from Washington part OF tho
ation of tho bank but which had not boon signed by
either the president cashier These signatures how
ever were easily forged by the thieves and their
completes, and the in every other respect
genuine they readily passed as good and lawful
money. subsequently, and at various times,
these notes to the amount Of 81, 500, all OF
which had passed through the hands OF hon
est parties, back TO the Bank Of Barre for
Identification The first question which naturally arises
is Who is responsible for the redemption of such note
after it has been put into circuatonp Let the reader
tak5any national bank note and the first thing to be
noticed inscribed across its face the words
This note secured by United States depos
ited with the United States Treasurer Wsshington
Register the Treasury Treasurer of the United States
Below and 10 the right Of the Treasurers signature is
fixed the seal of tho United States Treasury This at
first sight would appear constitute perfect bond on
claim against the United States but the powers that
be have decided in the negative In the Of the
Bank of Barre above referred to, the unsigned notes
had reached their destination had been receipted for
by the bank officials and the government could with
apparent show Of justice claim that its responsibility
ended from the moment that the notes in the
tody of thespcrsons authorized 10 receive them
KNorTY POINT.
On investigation, however, it appears that in many
instances unsigned notes which had been prepared at
the Treasury in Washington according to law have
been stolen trdnSu from the Delivery Bureau to the
banks for which they intended. Then who is
sponsbles II the notes put in circulation with
forged signatures and the government will not redeem
them because they have been stolen, the bank or its
officials ought not in all justice TO be held liable,
they never camo into possession OF the bills for the
not perfect without the signature of tho
president and cashier. The express company could
any court Of justice be made To pay; for If the
government repudiates the notes as worthless
count Of imperecion what jury could estimate the
damageY The danger of this state of affairs hardly
be overestimated The following list furnished to each
national bank by the National Bank Redemption
Agency at Washington, while incomplete WILL in
measure, show TO what extent this evil has grown.
STOLEN NATIONAL NOTES.
The rational bank noos described below were stolen
when unsigned, the signatures Of the bank officials
forged and the put into circulation. They
rejected when presented for redemption at the
National Bank Redemption Agency ia Washington