The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-05-12
FINANCE AND COTTON
FINANCIAL.

ot the currency redeemed by the United
80 treasury one-dollar notes form very
s'a ss proportlon. They are worn out faster
inss INV of The other notes, in spite of the
.n s, ,hat the silver dollar Is constantly be-
Nv ~ ,hrnst forward in the vain attempt to
Jug II rake the place of the greenbsck dol
iu In The redemptions last year OF green
~, alone there were s, 36S 600 one dollar
pSis rsdeemed and destroyed, 4,0i05O0 two
AL az hills, 3, ISL 600 ive-dollar bills, $50
s Nv, ,an.doIlar bills. The life of the dollar
,,senback appears to be very brief. VI the
.sSm0 600 oue-doliar notes issued between
iS;S and 1879, known as the Issue OF 1870, "
1S0nl 600 have come back worn and ragged
md dirty, and been redeemed with others
hrrht and new and crisp. let OF the 80, :
e.1 irn.dollar bills of that same lot, issued
al the same time, not half had yet come
hsck At last accounts, OF the issue OF 1878, "
which still continues, III UVUUOO OF the To-
40 eDO one dollar bills have come back,
same of them scarcely year old. Of the
tissue of $780, which began three years
AGO but is still running, four million OF the
one dollar fellows came back used up IN the
S,st two wears. The ten-dollar bills are
much longer lived. OF $4,000 ten dollar
Notes of the tissue of $780, issued between
iSSor d 1850, only 10000 came back during
The 1.-TWO years, or about 6per cent. OF
ths plenumber issued, while of the one
DALAI ills of the same issue nearly 20 per
cant ne back in the same time. The to-
tsl am Mt of greenbacks and other govern
m mt igations (sllver certificates, frac-
uonal 81, rrency, etc. which have been re-
deemed I'D destroyed since the beginning
of theis eoi these Obligations is about two
and half billions, nearly eight times the
amount now outstanding, and nearly four
times as much as was atioat in 1865, when
Inc largest quantity of this sort OF obliga-
tons 1885, 600, 600 was in circulation.
great deal of this money that has been
issued by the government in the past years
has never come back for redemption. The
government is gamer of millions upon mil
lions of dollars in this way. 1t is estimated
by the treasury department, for instance,
that 81, 100000 was burned up III the Che
ago fire other millions were lost and de-
stroyed during the war; others are lost on
SUM- en- and hlown.up steamboats, Others
burned in burning buildings, and many
millions were lost from careless pockets, or
worn ont and never presented for redemp-
ton. Nobody sees any paper fractional cur
rency in circulation now, yet there is nearly
$4,000 900 of it that has never been pre-
sented for redemption. 1t is probable that
not 81, 900 600 of the SIS 100000 of this still
out will ever ONE in. Experts estimate that
At least per cent. of the money thus issued
by the government never comes back Tor
redemption, and that the government has
been gamer from $50 100000 to $40 ,000,0 {
BY this process in the past twenty years, OF
nearly $1,000 coca year.
1t is learned at the treasury department
that owing to the failure of congress u
make an appropriation for the pay ment OF
express charges on United States notes sent
here for redemption, the fund for that pur-
pose will be exhausted at the end OF the
present fiscal year. There was an appro.
praton made for express charges on bank
notes, but not on currency notes. This
was probably due to carelessness; but,
whatever the cause, it will result in great
deal OF annoyance. A correspondent had a
conversation with Treasurer Wyman on the
subject the other day and the treasurer
said that few people had any idea OF the
large amount Of dirty and ragged currency
alioat throughout the country. The failure
oil this appropriation would necessarily
cause decrease in the amount sent in for
redemption, tor after July the banks would
have to pay the express charges on all such
packages, as well as on all packages OF good
notes sent in exchange for them. "Oi
course" continued Mr.. Wyman, this is a
small item, yetthe tendency will be to keep
The notes in circulation as long as possible,
and the currency will be visibly dirtier and
more ragged during the coming year than
heretofore, and especially will that be the
case in the west and south. where the long
distance ard high express charges will keep
,hecurrency in circulation even longer than
IN the sections more accessible"
A Cincinnati insurance company an-
Iounces that 1t will issue policies on chill
d'en at the rate of cents per week. The
following valuation has been fixed; A child
less than year old is worth $li between
ana years, 3d. . to 3 years, S2S; A years
~ 5years, S35; 6 years, $40; 7years, $50
oyears, $50; 9years, S70 10 years, $50; IL
years, Sl23. The -ates for insuring colored
children are twice those of whites.
y ne OF the largest and finest SELECTIONS Of
United States and foreign coins ever gath
e Weu IN one collection will be sold in New
lofE this week, comprising over 2,09i lots
vi vi COINS, and the numismatic library Of DR.
Mlhslow Lewis, the sale lasting for three
Ways The catalogue embraces California
s % local gold colnages and Continental ant
confederate bills and currency.