Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-08-23
THE BROWN BACKS.
Seventy.One Million Dollars in Notes in
One Little R0Om-An Interesting
Apartment.
The New Three Per Cents-A Bond that
viii Afford Absolute Security
Against Counterfeiting.

Washington Special to Cincinnati Commercial.
Seventy-one millions of dollars in ma
tlonsl bank notes in one little room in the
treasury department, all bright, new, clean
notes, never used for money, were shown to
a correspondent Monday in the division oil
issue, by Mr.. John F. Bates, chief of the d.
vision. A most interesting apartment this
with its table weighted down with solid
bundles Of paper that only need the sigma
lures OF the presidents and cashiers to turn
them into the representatives of value. To
this division come all the applications for
new notes to replace old and WORKOUT ones,
and under the act of July 18th, extending
national bank charters, through this diyis-
ion the new notes that must be taken by all
banks extending their corporate existence
are being issued. 1t is in these notes tn at
people who use national bank bills will
be interested just now. Washington peo-
pie seldom see national bank notes in
circulation, and they are fortunate in
handling only the newest and crispest
treasury notes. The further you go from the
capital the dirtier becomes the paper money.
In the redemption bureau, where the dam
aged and drt-soaked bills are counted before
being destroyed by maceratioD, the women
who count Chicago money complain of IFS
filth, and one of these female clerks made it
an excuse recently TOR asking for unusual
leave OF absence, that she had been working
for ak months on Chicago money. The new
notes for national banks have not yet gone
out in large enough quantities to have gained
much circulation. Up TO Monday morning
few reorganized and extended banks had
been supplied with notes of three denomina-
tons. OF the new fives there had been issued
10 banks $685., 800, and OF tens and twenties
there had been delivered at noon $3.50, 500.
Chief Bates reports applications for new
notes from q dezeI, or more banks, aud Others
Will come in soon, while In February large
number of banks whose charters will expire,
will come in under the new law and have to
be supplied. The first bank supplied with
he new issue was that at Findlay, o. The
First National Bank of Port Jervis has filed
its application for the new notes, ard 40 has
the First National Bank of Elenville, Ulster
county, and they will receive their notes soon.
1t is extremely doub, full whether the new
notes will be as popular in every respect as
the ones they are repla cling. Excepting only
the face of the 6ves the engraved work of the
faces Of the new bills is substantially the
same as that of the old ones. The face OF
the new Ewes is new. and has what the en-
gravers call "charact err"
The engraved pictures of columbus Dis
covering America" and the Marriage of
Pocahontas" have disappeared from the
ends, and a fine head of Garfield. at the left
eud OF the note, is the only picture on the
bill. The plates for the faces of the other
denominations re the same as those they re-
place, with the exception that the charter
number of the bank is engraved in the bor-
der six times. The law of July 18th re-
qulree that ne new notes shall be readily
distinguished from those in circulation.
To secure n note to meet this requirement,
the bureau of engraving and printing was
put to woI K. Mr.. George w. CASTELAR,, who
is superiu tendent of the engraving division,
hanI II
the material used 10 the old notes as could
be utili zed. The old border and ends, in
Guiding the State and national coat of arms,
were retained. The center piece, the repro
ducti ons of the large historical paintings in
the rotunda of the capitol, WAS rejected, and
in it's place an oblong, in geometrlcal lathe
work of graceful design. was introduced. The
CHI ief dis iinguishing difference, however, be-
tween the old and new backs, is in their
color. The old ones were green and black.
The new back is printed in brown burned
sienna, and, as il that were not chear-looking
enough, the charter number OF the bank
is printed in dark green in scroll across the
center of the back. The effect produced is
strikirgly ugly. The face of the e-dollar
note, (which Will be liked for the head OF Car
field, is an excellent portrait 1t is from an
original crayon portrait made in the bureau
of engraving and printing, partly from the
gainesville photograph and partly from sew
eral sittings given by Garfield. Proofs of the
engraving were submitted to Mrs. Garfield
before it was used for any public purpose,
and the die was first used in preparing the
memorial cards of invitation to the services
in the capitol when Mr.. Blaine delivered his
eulogy on Garfield. The work on the por-
trait, which is regarded as exceedingly fine,
was done by Lorenzo J. Hatch, one Of the
best engravers in the bureau.
At the bureau of engraving and printing
the correspondent was shewn several of
the new three-per-cent. bonds which are
soon TO be Issued. These new bonds are
called "lhe secretary's pets," for the reason
that Secretary Folger has devoted himself
with more care than any OF his predecessors
TO the production of bond that will not
only afford security against connterfeitiDg,
but will present infinitely ON their face the
authority for their issue.
Although Mr.. CASTELAR, made the general
design, m ANY changes were made by Secretary
Folger. The backs of the bonds, for instance,
by the secretary's direction, are SO arranged
that when the bond is folded twice, two neat
panels will be presented, something after the
manner of folded legal document or brief.
Oae of the latest modi6 -ations ordered by
Secretary Folger was an addition OF line
on the face, referring to the section of the
revised statutes authorizing the bonds This
reference is also found by Secretary Folger's
direction on the upper left hand corner of
the new gold certificates which are being de-
signed by Mr.. CASTELAR,.
The variety and intricate character OF
work on the new bonds is believed by the
most experienced men in the bureau TO be a
protection against counterfeiters.
The bonds OF one denomination has a yignette
of the head OF Garfield, an excellent portrait,
but different from that on the S. national
bank note. These new bonds are a great
advance, artistically considered, upon the
early issues of bonds. They will begin to go
into the hands of holders of three-snd- a. half
per cents some time next week.
There have been many rumors, by the way,
that the applications for exchange have not
been as numerous as was expected. At the
treasury this report is regarded as based
mostly on Imagination, the applications
all come to the department sealed. None
have been opened, and there is no means of
the amount involved in the sp-
plications received.