Telegram-herald., 1889-07-28

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-----~r - sA- --4-4 4E rt-a-r--r -
%alc1 --s prisoners sers co1Tletsd s-s-
gss1ea = .1e Aes Iork GraP1lc . erl-f az
sersgt.@- = --s -@az z-eE-ss-s ssll1 es4r1
. - lss-z.
Ias paper O. welch tie notes srs pri1tsd
: n..-ds u : pr.fa-e factory 10 19rzs1.re
4z1er stf-et4E z-ar1sd cC11l ..eas - 10 TIE
s11ef-i-Af4f - --c1 - 50 lCls .-...-9-s . ieat-
IRE y = q saver waite aa1 - strQrg
thss y ~ s1st.,n nfsy po1ads II selges.
u1sl s-> pended a. tls corasrs. TIE priat-
inz > performed - tAe ba1z In I1re41-
nes1-e s-fee-s i--c.41- e < las So gzt4rs CT la5
romi1-- maker u It's drzfl Tue drafts Or
Dolss -s-d formerly - be gne1 - assist
4at c4s1-Srs- o1l he issue eventually -
c4ls - -@rze 10 zd1llt OF sixa mana2-
beng -ss-ec, So prir-lz was substituted
k--A i-1-fir-4- ace Is soon as issued
las Is a-u-oer, -s-rer. dale 4ad dsnomilz-
tL0n placed y It's GaolE Ia ledger account,
TIE per cccfra beng Eied on tls retlrn II
tae ne-7. perhaps tLs next cav. some years
ago ~ q Fl notes issued ~ the middle of
last century were handed n for payment.
A reference 20 the ledger II TIA, date
showed tie credIt SIDE % t1e note with cor
responding numbers % be open, go The
drafts were duly hon0rsd
Tue owest denomination now issued : %
Is, the Highest Of ki801u A notable feat
ure OF tie baEk OF Elgland note, when
coupared with that Of otner issues and
counlces, . is crispness aud clearness.
The simplicity q design and ciearness Of
lelterisg and figuring are very cousp.cu
Gus. Ias reason WHY we never md t4ttered
and foal Bank OF England bills or bank
Dotes, IS the Englshman prefers 70 cal
Them, arises from the custom Of the bank
never y issue one OF It's notes a second
tine. This ruleis &c scrupulously observed
TIA. sho4ld = thousand notes Of IS each
issued II tho morning IA exchange for gold
Al the issue department come into the hands
Of the banking departments IS = customer
deposit in tho afternoon, possibly without
having been united. they would be immc-
diately Cancelled. This cancellation IS per
formed by tearing or tho signature corner
of eaca note. the number and date being
nrst recorded by the receiving clerk on MS
counter cash book.
The mutlated bills az tie banking de-
partments are collected az short intervals
By clerk from the accountants depart
ment, where they are assorted into their
respective denominations and placed to
their Individual ledger credits. They are
then stored. aud after ten years. interval
consigned 70 the flames.
The detection Of the forged bank note is
almost inevitable under this system. Sim
ply 70 initiate the paper Is difficult, the best
imitation beng readily perceptiDle. TO a
practiced touch. To counterfeit the print
iug is almost impossible, owing To the alb
sence Of complexity 70 confuse the eye, and
a third reliance for the paying teller as he
rapidly scans the notes before shoveling
out the gold IN exchange is a peculiarly
known only 70 the initiated.
Should a forgery slip through these
guards tho numoer and dates and denom-
ination must all correspond with the ledger
entry. aud should all these agree the
chances are that the legitimate note Will
have already filed up the blank.
Itist the rule in all London banking houses
and in most private establishments 10 re-
cord the date and number of every bank
note passing through their hands, together
with the name OF the person presenting IT.
The Bank of England, moreover, requires
the Endorsement OF the holder Of every note
or parcel of notes presented for exchange
for gold or for notes of other denOmina-
tions. This system greatly facilitates the
detection Of fraud, and in the case which
gave occasion 10 tnese remarks was the di-
rect means OF establishing the prosecuting
attorneys = theory.
The actual cost Of each Bank of England
note issued is about five cents. An ordi-
nary days issue Of notes with correspond
ing number OF cancelled, Is from 10000 70
10000, but when d forgery is known TO be
afloat all Of that particular denomination are
poured in By their holders for exchange or
redemption, and as many as $1,000 notes un-
der such circumstances have been presented
and Cancelled in one day.
AS an Offset TO this expense the yearly
gain to the bank in notes destroyed by fire
and water amounts TO q large sum. which,
however, is taken into account by the Gov
ernmcnt when adjusting its National debt
and exchecller arr.n gements with the bank.
The .'Old Lady Of Threadneedle Street, +"
as the LOnd0ner lovingly calls the institu-
tion. which next 70 his Queen he most deep
lv reveres, Is very liberal when dealing
with cases OF notes destroyed or mutilated.
The secretary's Office attends 70 those mat
ters. and there may be seen daily remnant IS
Of notes which have undergone every con
ceivable ordeal snort OF absolute destruc-
ton
Little pulpy masses that have passed
through the digestive apparatuses Of dogs
and children, half burned pieces that have
unwittingly done duty as cigar lighters.
remnants OF every kind Of which enough is
eft to indicate in the faintest degree the
original worth-all receive full considcra-
ton and the owners lose nothing Even
total destruction when fully proved Is no
bar 70 iudemnificaton VIXEN good security
against possible mistake is given.