Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1883-03-30

A considerable source Of profit to the
United States Government is the amount
OF paper money and coin which is new
or presented for redemption. Much Of
this Is destroyed by fire. Some of it is
buried or hid In places known to no
person alive. A large quantity of the
coin is melted to make sterling silver
ware Considerable amounts of both
paper money and coin are exported,
never to return. Not long ago a [ nited
States bond. issued about 1879, was
presented at the sub Treasury in this
city. The interest on it had ceased over
Fifty years 1t had come back from
fuiope through Barring Brothers. The
outstanding principal of the public debt
of the I'm ted States last year was near
!y $1,000. 600, 900. chic ay represented
by bonds and Treasury notes. 1t would
be, Of course. i'm ossible to say how
much of this will never be presented for
redempt on, but some idea may be
formed from the fast that So, -,6s5 of it
was issued so long ago that the dat, is
not recorded. Itappears in the report
as . old debt that may safely be put
down as profit. There is an item OF
$82. .525 of Treasury notes issued prior
TO lfif. Some Of them were issued
nearly fifty years ago. and will not. in
D probability. ever be presented for re-
demption. One thousand one hundred
and four dollars OF the Mexican in
emnity of 1876 has never been claimed.
The last of the fractional currency was
issued under the act of June 6. 1854;
yet although nearly twenty years have
elapsed, $7,077, 247 has not been pre-
sented for redemption. Some Of II is
still used by banks and merchants for
transmitting small sums by mail. Sew
eral New York banks have considerable
sums OF new fractional currency which
they stributc for the accommodation
Of their customers.
q As to the coin. the Government de-
riyes considerable profit from it, The
silver in one thou and silver dollars
costs. on an average. about @s03. 75.
The coinage Of silver dollar costs
about cents. The total cost OF one
thousand silver dollars 10 the Govern
ment Is. there ore. &-16.25 Since the
organization OF the mint in l79?, 127,-
1y0.61s silver dollars have been coined.
on which the Government has received
a profit of over S23. 900. COO.
In the same period Sl22. 75s. SO was
coined into half dollars. At the same
rate OF cost for coinage the Government
proiited SO. 395, 76g ON these. The to
ta silver coinage OF the Government |
ipce 1898 is &3l7. .766.792. Estimating |
the profit on the halves. quarters and |
subsidia y coins at the ame rate on
the dollars. the total profit reee we'd by |
the Government on its liver coinage has |
be n about $63. .000. ZOO.
In the coinage OF the five cent nickels
the Cove nment reserved TO II e'f the
liberal profit of nearly so rcr cent
Ihi gave to the Government last year
he hand some revenue Of over 500, 900
from nicke's a'one. The wide margin
between the intrinsic value Of the five.
cent nicke and It's face va'ue led to ex-
treme co Interfcting. Several years
ago an say was made Of some OF the
counterfeit uickes, and IL was discov-
bred that the countclfeitcrs IS had put into
fhei coins n eva uab metal than the
Government uses N n ak ng the genuine
soins- IN. y San.