The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1890-04-03

llHllu-lOOhlllS NOullH hi''h VI
Braly at the sub-treasury the other day,
as he exposed to view half-dozen plecs
of ragged, dirty paper. A close mspec-
ton revealed that they were fractional
paper currency or "shin-plasters," such
as played so important a part as clrcu-
lating medium before the resumption OF
specie payment. The young man was dl-
rected to the small change room, where
II. c. Half took the soiled and crumpled
bits in his hands, smoOthed them out
with the hasty touch of an expert, singled
out one of the pieces and turned around
to a bit of wood, that looked like small
butchers block, and stuck on it the Sc
lected piece of paper whack with a
steel instrument Then turning to the
young man he replied:-
"These five are good, but that one is
counterfeit"
As he spoke he handed back the spu-
rious nOto-paper, and across the note
was the word counterfeit" cut clean
and clear. The steel instrument with
which he had struck the paper was a
sharp stencil die that cut the tell-tale
word so clearly that it could never be eff
faced, and the variest fool could see that
it was worthless.
do you want these redeemed?" con,
tinucd Mr.. Half, as he pointed to the five
IN ,,lln nnttntnr
Eyes, sir, if you please" stammered
fear the mutilated piece returned to him.
Mr.. Half put two bright silver dollars
and silver quarter on the counter, which
the boy picked up in a hurry as though
he were afraid they would be taken back
again.
"Do you get much of that old frac'
tiOnal currency now?' was asked OF MI
Half as the boy went out.
NO" he replied, 1--WE get very little
now, not more than $4,000 year. The
amount coming in for redemption is
growing less and less every year. 1t used
to come in here by the bushel basketful.
But for many years now 1t has only come
in in driblets. We seldom get as much
at time as that young man brought in
Just now
"Then it has most all been redeemed,
has it not?'
"No. indeed, and what is more a very
large amount will never be redeemed.
There is now outstanding of the old frac-
tional paper currency something like
Sl5, 100000. And of this it is estimated
that not more than S3,000,OOO to $1,000,
600 will ever come in nOw.'
"But where is the rest, and why will
it not come in for redemptionY'
"a great deal of it has been worn out
by the wear and tear of twenty odd years
of usage. Any quantity of it has been
burned up in the many fires that have
occurred since the time of its issue, and
in numerous other ways it has been lost
and destroyed. Then there are somc
other people who hold all they can get
to use in sending small amounts through
the mail, finding it very handy for that
purpose. Then, too, the old currency is
now so scarce that people keep the oeca-
siOnal pieces that come along as curiosl.
ties or pocket pieces. A great many coin
collectors have crisp, unworn specimens
Jf it in their collections. One wealthy
gentleman in the city | know carries i'll
mis- pocketbOOk, wrapped up with tn,
greatest care, four clear, bright speci.
mems, fifty, a twenty-five, a ten and a
ivc-cent piece. He says it was the first
money he ever earned. 1t was paid to
lim in these identical pieces, brand new
from the press, and he has preserved
them ever since for luck. | do not be-
lieve you could buy them from him for
81 900 each. He calls them his reserve
capital, and if he ever loses the million
Jr more he is now reputcd to he worth
he will have his ninety cents reserve to
fall back on
A good deal of the fractional currency
that comes into the sub-treasury for re-
lemption turns out to be counterfeit
md the moment it comes into the hands
Of the money changers in that institution
no matter who hands it in, it is hurried
to the block and branded with the stem
cil-cutting die. They ask no permission
but Just 90 and do it. The same rule is
followed too, in the rotunda where tht
bills of larger denomination come in
sometimes men get very angry wheI
their bad bills are handed back to then
mutilated in such manner that the!
cannot be used.
A few days ago the South Ferry Com
pdllN Sclb up W llt SuD-llOdStlll Il Jun
die of the fractional currency, represent
ing about 800. 1t had been discovered
back of partition in the old ferry house
where it had either been slowed away o
misplaced and was found when the ole
building was torn down to make room
Tor the new structure. Mr.. Half shufflet
through the pile, and not only pro
nounced it all counterfeit, but discovered
Jhat some of it had been brought to tn
sub-treasury at least twenty years ago, a
the marks of the old stamps used as lonI
lgO as that to mark counterfeit pape
money was still plainly visible on them
Each piece was subjected to the cutting
process, and will probably not be pre-
Sented again for redemption.
All the fractional paper currency tina
is redeemed at the sub-treasury is sent +
Jhe treasury in Washington, where it i
placed in the crematOry and burned ur
md all that is left is a sediment of
Stag, a single pound of which may repre-
sent 100000; the balance floats off a
smoke and gas.-N. y. Commercial Ia
rertiser.
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