The Arkansaw traveler., 1884-06-28
OLD BANK NOTES.
IWashinrsor s,.r.I

of a complicated nature. and requiring great accuracy, is so syssemized that 1t runs without a hitch. Even If a mistake should occur in handling and counting the vast sums oi money which constantly pass through the bureau. the system of checking and receipting IS so protected that it would be discovered in a very short time and its origin traced almost simultaneously. The 6fty-seven employes oi the bureau, mostly ladies, who are locked in a long room on the west side of the building, are the ones who count and sort the old worn-ou. bank-notes. which are sent to the departmen, for re- demption. Each counter has separate table with compartments for diffe,en, notes. The casual visitor to the depart ment gets partial glimpse of ,he ladies behind the wire screens, rapidly finger ing the soiled and torn money which has just been withdrawn from general circulation, but. for precautionary req sons visitors are seldom admitted to the interior.
 The bureau will have been in existence just ten years on the Ist of July, and the work accomplished by ii, is invaluable. Since its origin there has been redeemed SI,39i ,4o4, ,oo7,i7, or over twice the na- tional bank circulation.
 What is the average life of bank nose?" asked Sta, reporter of one of the officials.
 About five years" was the reply. "Of course," he added. i've have no other way of finding out than by compar- ing the amount annually redeemed with that in circulation about % per cent. of the whole circulation being redeemed every five years. The life of the legal tender notes, being of smaller denonina- ton, is only abou, three years.
 The amount of money received from year to year varies from S6o GOO 900 to $40 900 900. This would be an aver age of SISo, 900 900, but the clerical force can't be averaged in that way. When the redemption is over SIoo 600 900 the work is really more than ought to be done with the present force. There is a premise of an additional force before a great while"
 A SIar reporter was escorted through the division the other day by the superin- tenden,. Mir. Rodgers. and the modus operandi was kindly explained. " Money sent here to be redeemed goes through three separate processes, said the officer. ]" Packages are received from banks, and Jus, in the shape they come are taken by counters, who give their receipts for them to their tables. and are there sorted by denominations. These packages. con tanning bills according to denominations, are turned in al night, and the next day the counters divide the bills into groups. We have tifty-two of these groups, which include all the national banks, arranged alphabetically by towns in which they are located. New York has a group of its own, and so has Boston, on account of the large number of banks located in those cities. The group packages are deposited in the vault, to be gradually withdrawn and the bills separated ac- cording to the banks of issue. This con s,iutes the third and las. process. Bank notes which are fit are returned 10 the banks of issue. and a check generally given on sub-treasury sent for those which are no, f.. While the first two processes are daily, the third is of course not. The groups are taken from the vaults in order, and the whole fifty-two are generally gone through with about
  tion is under SIoo, 900 900 in year about 5 per cent. of the notes received here have to be destroyed, a very small pro- portion proving it to be used again. When, however, the redemption IS much over that the proportion of fit notes is much larger"
 .' see the ladies are allowed to have comfortable seats while at work. Has that always been the case ?' asked the Star reporter.
 No; several years ago they were compelled to stand at these large cases and perform their work But the con- s,ani strain from standing, and from the use of the muscles of the shoulder in handling .he money was very injurious. The systematizing of the work, however, permitted changes in the manner of per. forming it. After i've years oi steady work in the old way woman would be almost entirely used up"
 This book" continued Mir. Rodgers, turning to a small account book, " shows the workings of this division since its organiza aion to the present day, giving the result of each days proceedings. It IS balanced daily, and from an inspection VI tty tuC otAkS6S OA tAC 0lSfSAou Chi1 oC seen at a glance. If a bank sends more money than is marked on a package, or not as much as marked, it is noted here. On May 9 you will sec that there was a shortage ofs 56o. That is rather peculiar, for the package of money came from the National Metropolitan bank of New York, just day or so before it suspended. The ofTicers of the bank must have re- ceived the letter from the department noting the mistake on the very morning of suspension, but guess they were too busy with more important matters to pay any attention to 1t. That was the fourth time that there were large shortages in the packages from that bank in the past Zen years, but every time before the bank would not own the mistake, but insisted that the trouble was in this office. Very often banks send more money than they mark on the packages. In fact, the soxer~f have A~r~~1aA sha SrhoxSe l,