River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1883-03-01
MILLIONS IN SIGHT.
Uncle SANS Hoard or Wealth in the
San Francisco Vaults.


There's millions in millions ofsolid,
solid gold and silver; not the Pigment
50 to speak-of the thriftless visionary,
but the tangible lucre that makes men
opulent, that makes nations powerful,
that moves all that is movable by human
agencies in the universe. There's mill
lions in tin the vault that urderlies
the sub treasury building The doors are
opened; the expectant visitor takes HE
hands from over his eyes; he peers in,
enters, and sladdin's cave is changed in
to the store-room ofa retail grist-mill. He
sees nothing -but solid mass OF little
canvas sacks, piled from floor
to ceiling. homely as grocery
overstoeked with breadstuffs. This is
the principal vault, and each of these
little sacks contains 900 silver dollars.
There is no gold here. The vault is thir-
ty-six feet long. seventeen feet wide and
eight and half feet high; yet it holds
only 1000 900 of silver dollars, The
gold vavlts are about as prosy, the money
being sacked and piled IN the same
manner, each sack containing SIC, 600.
1t is asked, Where does all this money
come from? The answer is that the sub
treasury-this mean, little, inadequate
buildings the receptacle for the en-
tire revenue of the government from the
Pacific Coast west of the Rocky Noun.
tains; from British Columbia to Mexico
The business of last year amounted IN
round numbers to $3S, 000, 600. Natural
ly it may be asked, why is all this mon
ey boarded instead of being out in circu-
lation? Paradoxical as it may seem, a
great deal of it is in circulation. To all
intents and purposes it is passing from
hand to hand every day, doing its part
in the great game of financial shuttle
cock and battledoor. 1t is represented
by silver and gold certificates form
much more convenient for business pur-
poses, while the coin itself is stored in
the vaults, away from the depreciating
effects of abrasion and from loss by 9TH
er causes. A majority. of the twenty
dollar gold pieces in circulation have lost
so mitch By abrasion that they fall below
the standard weight. There are
in the shb-treasurv over seven
thousand half-dollars that have
become deprecated simply by
ordinary aE-.siop while in circulation.
This depreciation sometimes amounts to
as much as twenty seven dollars on a
thousand. Gold being softer metal suffers
this reason, and also because they save
time and trouble in handling and are
more convenient to carry, gold certiti-
Gates are fast growing in favor. Besides
there is an advantage to the government
in issuing silver and gold certificates.
In receiving SO many millions ofdolars
1t might be supposed that an occasional.
spurious coin or note would find its way
across the counter, So great is the dam
ger that every piece and every note has
to pass under the scrutiny of an expert.
People do not realize the quantity
counterfeit silver dollars that are in
circulation. Not day passes that more
or less are not offered at the sub-trsasury.
The assistant treasurer speaking OF
this subject said: 'fYou would be sur
prised at the ingenuity that is displayed
in debasing the different governme Mt
coins. One of the neatest methods en-
ployed by those who engage in this spe-
cies of crime is what is known as the
splitting process. This is done by split
ting the coin edgeways (probably by
means of a fine saw, digging out the in
side, filling the cavity with metal as near
ly as possible the weight of the gold Ia
ken out, and soldering the weight of the
two disks together again in such man
ner that it will pass without suspicion
among those who are not expert In de-
tecting frauds of this kind. Fortunately
this method of tampering with coin is SO
difficult in its successful accomplishment
that it is seldom resorted to, and coins
thus debased are not common. An ex-
pert at the business can take five dollars,
worth of gold out of a single twenty-dol-
lar piece. A short time ago 800 note
was presented at the counter. The re-
ceiving teller Immediately upon takingit
into his hand stamped the word "coun-
terfeit,n on its face and handed back.
The proceeding startled the person who
presented it, and he asked the teller,
with an air of indignation, why he did
it.
because the law. compe!s me to do it."
the teller replied.
The man insisted that the note was
good, "but," said he, "if it is not good
could have taken it back to the person !
got it FROM"
"You can do that still" said the teller
land if he demonstrates that 1t is good
note, you have only to come here and get
your money" The man did not come
back.
Spurious silver coins are detected more
by their weight and general appearance
than by ANYTHING else. Said the assist
ant treasurer, speaking of this: They
have got. us on the ring of the metal.
They can make their base metal to ring
as well as ours" The detection ofspuri-
Gus gold coin is purely mechanical-by
ringing, acids, weight, the eye, etc. Tex
perienceis everything" said Mr. Spauld-
ing. IA base coin has never boon
passed on us, but we have stopped lots
o them on the way. To lee ome expert
in detecting the base coins men have got
to make it a business, astudy. "-[San
Francisco Call.