The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1883-05-12
Oounting a Billion Dollars.


The large amount of money at the
Treasury Department confounds the inn
aglnation. Senator Joe Brown said last
winter to a friend who had spoken flip
PANTY of million dollars:
Young. man, million dollars is
great deal of money"
What, then, must thousand millions
be? Counted dollars by& dollars, even
at the rate of 5000 a minute, day and
night, without stopping,it would take
ten years to count it..
Fortunately for the sore fingers of the
lady counters, the money is not all, or
mainly, in one dollar bills; and again,
IN this work, as in others, many hands
make light work.
The total volume of money falls into
three main divisions. There is first what
is called the cash in the treasury. This
was IN round numbers, on the 1st of this
month, 1906, 900, 600. There is next the
surplus reserve fund, that is, the supply
OF treasury notes received from the
Bureau of Printing and Engraving, and
held to furnish banks and sub-treasuries
on demand This money lies ready for
delivery in the custody of the treasury,
but is not included in the assets of the
Office. 1t is estimated that there are be-
tween 5000. .000. 900 and $500, 600, 900 of
this money locked in the treasury vaults
Finally, there are the bonds held by the
treasury to secure the circulation of the
national banks to an amount of $780,
O00,O00 Altogether, therefore, there is
plump billion of money to be handled.
The method of working is simple.
The paper money lies in neatly wrapped
piles in the yaults, with the amount of
each pile stated. The band is removed
aTi the money given to a counter, who,
with deft fingers finds the sum and re-
ports the result. A strict watch is kept
to prevent bills slipping up sleeves or
under aprons.< If the report of the coun-
ter agrees with the record the band is
put back and an entry made, and it
would greatly astonish the committee,
no doubt. if difference were to be
found and to be proven on a second and
more careful count. Probably not one
such incident will disturb the monot-
ony of the examination, as the system
OF checks in use renders false count
in a package delivered to the treasury
almost an imposSibility. and no one
hints that the vaults have been tamper-
ed with.
1t viii be comparatively easy and |
pleasant to count the smooth, clean |
packages OF bills, but when it comes to |
the broken piles of multilated returned |
the committee win have dis |
time of it. The custom of |
the treasury is not to destroy returned |
notes of a national bank until they |
amount to $500 OF multiples thereof, and /
mutilated bills are sorted and preserved |
until this unit of destruction is reach
ed. Hence, as there are about s., 600 |
national banks, each having its little |
pile of greasy and torn bills. this feature |
of the count Will be a tediouS and dis |
agreeable job.
Another Job which the committee |
dread is the counting of the specie. The |
clerks are not accustomed to handling |
coin, and work SLOWLY and awkwardly. |
A few Chinese shrotfs might well be en-
gagged to attend to this part of the bust
ness They would c1ink the dollars of /
in short metre, but the clerks make slow
and clumsy work of it. In many cases.
however, the process can be expedited
By 2 recourse to tire scales. A S5, 600
bag of double eagles viii be counted for
Instance, then tied up and put III one
arm of the scales, and the contents of
another s., 900 bag of double eagles viii
be turned into the plate on the other
arm, and the sack and cord thrown on
me NtiiON HtdD- IL bifc SNO WEIGHTS
balance it win be presumed that the loss
from friction is the same in both, and
the figures of value will be accepted as
proven. The chief bother will come
from the enormous horde of silver dol
ars and subsidiary coin.
Of course much of the $500, 900, 900
which appears on the books as cash in
lie treasury will be simply credits re-
:ra-I from various Sub-treaSurieS and
=. repositories. These reports will
:.c. rf.ied for the time at least, as ac-
eurate. II d probably no count will be
10y the incoming Treasurer
The surplus reserve fund will be tack
led after the cash is verified. This will
simply involve a count of the packages
as delivered into the custody Of the
Treasurer by the Bureau of Printing
and Engraving. Finally, there will be
such an exaggeration of the bonds de-
posted by the bank as shall satisfy MIR.
Wyman, the new Treasurer, and his
T. ISu4a.