The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1879-12-25

tiples of tens from $50 up 10 100000 Oh
more and in all Gases the banks are re-
4uired to deposit reg is!ersd bonds, INSTEAD
Of coupon bonds for their circulation.
If Mr.. Vanderbilt received the entire
$50 900 900 In coupon "bed blan ..ets" h
must have got a vast smount of paper anC
printing, for On each bond there is ons
hundred and twenty coupons, each nearly 4
FAC smile Of the Doc , of the bond.
A STACK OF BONDS THREE HUNDRkr
FEET HIGH.
If he was paid in denominations Of 81 OO(
each, he get stack of paper ffreeo feet
high. If in denominations of $500 each
he got a stack thirty feet high; If in de-
nominations of 500. he got enough paper
to make shaft one hundred an fifty feet
high, and if in $50, three hundred fee,
high. If course he did not want so much
paper, and exchanged for registered stock
in denominations of $4,000 each. Some
time ago Mr.. Vanderbilt purchase So OOO,-
600 United States four DER cent. registered
bonds, Mr.. Msckey S5.0O0,0O0 and Mrs
Mickey S3,OOO,0OO. The reader can we'll
zee why q very rich man prefers reg Uttered
bonds. When the Treasury began issuing
the four per cents most everybody other
than the bAnks chose the coupon bond, but
it was hot long before they got tired Of the
"bed blankets" and have been returning
them by the millions for exchange into the
registered bond. Ordinarily / would pre-,
fer the coupon bond, a. it is
payable to bearer, and witt reasonable care
1t need not be lost As q precaution TO
safety, moot holders of coupon bonds cut all
the coupons off the body OF the bond, plac-
ing the Soups" in one bank and the bond
in another. Nine-tenths of the bonds recent
~ redeemed came in with the Soups"
detached, pasted, pinned or sewed on before
sending to the der Artment. The registered
bond ia the HAND lest and safest; sometimes
it is too safe. LIT q registered bond be lost
the owner il required to file An indemnity
bond in double the amount Of the one lost
before the department will issue q dupli-
cate. Surprising . man have his entire
worth in bond it il plain to be seen that
it might be very inconvenien., if not i'm
possible, for him to file the bord required,
and until be does file it his bond might az
we'll be in the hands of some burglar or At
the bottom of the sea. However, the law
il made for the protection of the Treasury
and can not undertake 10 be the custodian
of individuals alter the funds quit the de
psrtment.
OUR Treasury DEPARTMENT
il the greatest institution of the kind in
the world and under Secretary Sherman's
reforms have been ad-
making it the most per-
feet and safe counting house found
anywhere. Over three thousacd mil |
lions of bonds redeemed, exchanged, |
certificates Issued and redeemed /!
money received and paid out during THU |
year, and not . dol sr found missing. Not
a dollar in this monumental trsns action. |
Many times during the year ak to ten
millions Of bonds came pouring mo the
Loan Division in one day, in every con-
ceivsbie shape. Some 90 mutilsted that
he script had TO be pasted On a paper
,heet to define the bond. No: a. coupon
Was Lost of the thousands comipg in de-
'sched from the bonds. Mr.. Sherman has
he credit, and Justly, too. of beirg the
,est executive ,ficer ever at the head OF
ne Treasury Dep Artment,' not excepting
Hamilton. The Treasury of Hsmilton's
line was Q baby when compared to the
resent one. There are Is 600 officers con.
'ected directly and indirectly With the De
,artment. The reiupding operations un-
lsr Mr. Sherman's supervision has been .
rand success. Having no money. in fact,
o redeem the outstanding redeem able bonds .
nth, he pushed ahead, calling 5 per cent
nd per cent bonds with the assurance Of
man having 81 to redeem 81 with. By
il heroic demeaDor holders Of bonds b. ,
anne convinced that the Treasury could re-
eem the bonds somehow or ether. scd !
hen % convinced readily surrendered
,eir and per cent eonsuls and bonds in
kchaDge for 4 per cents. As understand :
but very few bankers thought il po9'bIe
, refusd ths portion of the debt redeems.
b under the very unfas"-9bls conditioO. I,
! rsninds No Of &C. srnt's strategy !.
/ Lnokoat saarab sd