Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-07-27
NEW BONDS AND BANK
NOTES.
A Description of the Three Per
Cent Bonds and the New Ma.
tiOnal Bank Currency.
washington Republican, q.

washington Republican, Il.
As soon as the act authorizing the
funding of the continued 81 per cent
bonds into 3 per cents was passed, the
Secretary of the Treasury directed the
Chief of the Bureau of Engraving and
Printing to prepare models for the
new bonds and submit them for his
approval. This was done, and the
plates of some of them have already
been made aud the printing COM
menced. The bonds will be registered
only, and of the denominations of $50,
800, $500, $1,000 and $4,000. The
face of the $50 will have in the upper
center a portrait of ex-Secretary OF
the Treasury Fessenden, with 8 lathe
work counter containing the denomi-
nation on either side. In the lower
center will be q picture Of the Treas
ury Department Building. Over the
head Of Fessenden, forming the arc Of
a circle, are the words, '0Three per
cent loan, 1892" and Immediately be-
meath the portrait is the date Of issue,
Aug. ], 1882. Along the left side
extend the Roman faces and axe, with
the monogram U. s. in the cetter, and
the motto "E Pluribus Unum" in
scroll work. Down the right border
are the words, Act of July IL, 1882"
The center is filed up with the story.
The other denominations will be the
same, with the exception of necessary
changes to indicate the amounts and
the portraits, which will be as follows.
On the 500, the head of Dewitt
Clinton; on the $500, that Of Benja-
min Franklin; on the $1,000, that OF
ex President Garfield, and on the
$4,000, that Of Alexander Hamilton.
The backs Of these bonds will be
different from any that have ever
been made. On the first fold will be
a large denomination lathe work
counter; on the second will be, first.
the act authorizing their issue, and
then an oval denomination lathe work
counter, under which will be the num-
Der of the bond. Then follow the
worts: United States Three per cent
Loan Of 1882. Transfer, No, ORR
ginsl date, and original number"
thus making a complete briet Of the
bond. This form of brief is Secretary
Folger's own idea, and its convenience
will readily be seen. The remainder
of the back is occupied by the regular
form of transfer, which is found on all
registered bonds. The backs will be
printed in the following colors: $50,
green; 500, blue; $500, red; $l0Ol,
brown, and $4,000, black.
With the passage Of the National
Banking act authorizing the national
banks whose charters had or we're
shortly to expire to continue their or
carnations within two years, it was
determined by Secretary Folger to
make new notes which should present
additional obstacles to the counter
letters. AS the FIVE dollar note was
the one most generally selected, an
entire new model for this note was
prepared by Mr.. George w. Casilear,
the Superintendent of the engraving
division, which is as follows: On the
left is a large portrait OF x-President
Garfield, above which is a small lathe
work denomination counter. On the
J upper right side is a larger denomina-
ton counter, and the charter number
OF the bank is repeated six times in the
border. The usual title and story
fills up the center. In the denomi.
nations of $40, $50, $50 and 500, nc
change has been made in v~ignettes
but the charter number is repeated
in the border as in the FIVE dollar
notes. The backs of all the new notel
will be printed in chocolate brown in.
stead Of green, as heretofore, and II
the centre, where the large pictures
have been placed, there will be a large
series of lathelwOrk counters, across
which will be printed in some colo
yet to be selected, the charter number
Of the bank, each figure resting upoV
a large lathe work counter. The ma.
tional banking act authorized the is
suing of gold certificates, and tn
models for these are now being pre-
pared by Mr.. Casilear. AS the con
tinued 81 per cent. bonds amour
to about $400, 100000, or abou
one-fourtA of the entire government
|, debt, it is desirable that the new
per cents should be ready for use a
soon as possible, and the work upoI
them is being rapidly pushed. In re
gard to the national banks, it is state.
that the charters OF about $50 wi
have to be Immediately renewed, and
of course, these will have to take tn
new notes under their renewals. Nev
banks, which have been organize
: since the passage of the act of Jul
: 2lst last, will also be furnished wit
the new style of notes. Work upoI
these is also being expedited, TIE en-
craving, printing, and other division
. ofthe Bureau Of Engraving and Print
} ing working beyond the regular hour
? to have the notes ready for delivery t
the Controller of the Currency b
| August LIST.
e For increasing the physical an
a mental strength, and a%ugmenting tb