The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1875-02-12

Washington Letter to the Inter. ocean,
Probably not one person in thousand
has any idea Of the origin and fate Of =
thing they handle or see daily national
bank note-and perhaps I history Of
these coveted slips of paper may invest
them with an interest superior to that
belonging to mere medium Of trade. A
national bank is an association author.
lied by act of June, 1853, composed of
directors, stockholders, and bank officers,
which, having = capital not less than
$4,000, and having deposited $4,000 or
upwards in United States bonds in the
Treasury Of the United States is entitled
to issue notes to the amount Of 30 per
cent. Of the value Of Its deposit. The
government assumes the responsibility of
paying said notes, and the Comptroller OF
the Currency gives tho new bank . char.
ter.
HOW IT CONES INTO THE WORLD.
The paper on which bank notes are
printed is manufactured by two Pennsyl-
vania firms, and has none Of the distinct
I'VE qualities of the fiber paper used for
legal tenders. These notes are Of the fol.
lowing denominations 81, 50, So, SIS,
$40, $50, $50, 800, $500 and $1,000 ;
&3's never having been called for, have
not been issued.
Lot it be stated now, and rememember-
ed throughout the whole of this descrip-
ton, to save repetition, that every note is
counted ut least twice by every person
who handles it, when he receives it, and
when he delivers it. Take q national SIS
(half the national circulation is in $5's)
aud examine it carefully, face and back.
You will see on it what is technically
called two printines, black and green.
The green is simply the margin OF the
back, made by the local and national es-
cutcheons and the denominations. The
black ON the back is an engraving of Van
der Lyn's Columbus landing in Amer.
ca, which is hung in the 70.
tunda Of the Capitol. Above is q de.
scription of the notes functions, and be-
low warning to counterfeiters. Now
turn to the face Of the note. In tho right
hand corner is an allegorical picture Of
the European traveller being introduced
to the American native races; in the left
corner Columbus sighting land. Be.
tween these the Treasurer and Register
Of the United States assure the public
over fac SMILES Of their signatures that
the government holds securities for the
payment of this note; beneath this is the
promise of the bank to pay the bearer
IS. Directly in front of Columbus and
over the other are some red figures
l,0l5 say, signifying that LOIS SIS have
been issued by that bank. All the work
up to this point has been done by the
Continental Bank Note Company Of New
York city. That on other denomina.
tons is divided between the American
and National companies. Our SIS, in
sheets Of four notes each, placed perpen
dieularly, and lettered A. B, G, D, are
now expressed to the Comptroller of the
Currency in the Treasury Department
and delivered by him to the Superintend.
emit Of the Printing Bureau. This very
interesting bureau is in the garnet Of thu
Treasury Department and thithe,
We pursue our IS through
long, narrow halls, whose oily, sitting At.
mesphere vibrates with the Whirr Of in
cessant machinery. At last We find 4
lady slipping it through two great rollers,
which leave new red number and letter
in the top right hand corner-say A3lso4
This 10 the Treasury number and is alike
ON every four notes; it begins AL and
runs to Al0,000,O00 then 81, etc. In
the room opposite 4 second lady stamps
on the note with pretty little machine
the governments red zeal, and q third
lady censigns it to third machine, which
prints 1T Columbus feet the number Of
the banks charter. Thus numbered and
sealed, these notes are returned in pack.
ages of . thousand sheets each to the
Comptroller Of the Currency, and hence
in tho demanded amounts sent to the
: hanks. There the manual. signatures Of
president and cashier are affixed. and,
clean, smooth, and untarnished, the M.
tional bank note begins life for ITSELF OF
it, worldly career none can tell; We may
but infer hardship from the forlorn plight
In which, new prodigal, il returns to ito
fathers house, knowing that there only
shall Il dnd, redemption. So