Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-03-01
FRACTIONAL CURRENCY.
Millions That Have Never Boen Redeemed.
Facts About Countarfcits

| SAhAiOHo Abht law S7CNcE DUct lkeutGuItu
Facts About CounterfcIts.
$Say, are these any goodln inquired
a timid looking young man of Door
keeper Brady at the sub-treasury the
other day, as he exposed to view q hall
dozen pieces of ragged, dirty paper. A
close inspection revealed that they
were fractional paper currency OF
"shinplasters," such as played so i'm
portant a partas circulating medium
before the resumption of specie pay.
ment. The young man was directed
to the small change room, where r.
G. Half took the soiled and crumpled
bits in his hands, smoothed them out
with the liasty touch of an expert,
singled out one of tho pieces and
turned around to Il bit OF wood that
looked like a small butchers block, and
struck on it the selected piece of paper
q whacll with a steel instrument Then
turning TO tho young man, he replied
'Ihcse five are good. but that one
is counterfeit
As he spoke lie handed back the
spurious note paper, and across the
face was the word counterfeit" cut
clean and clear. The steel instrument
with which he had struck the paper
was sharp stencil die that cut the
tell tale word so clearly that it could
never be eifaced, and the veriest fool
could see that it was worthless
DO you want these rcdccmed9' con-
tinucd Mr.. Half, as he pointed to the
five grimy slips OH the marble coun-
ter.
Eyes, sir, if you please, st;,mmercd
the youth, as he eyed with surprise
and fear thcmutilated piece returned
to him. Mr.. Half put two bright sill
yer dollars and Il silver quarter on the
counter, which the boy picked up in a
hurry as though he was afraid they
would be taken back again
DO You get much of that old frac-
Lional currency now?' WAS asked of
Mr.. Half as the boz went out.
No" lie replied, I'VE get very lit
Tie now, not more than 81, 500 Il year.
The amount coming in for redemption
is growing less aud less every year.
1t used 10 come iii here by the bushcl
baskctful Bat for many years now
it has only comc in III driblcts. We
seldom get as much ut a time rs chat
young man just brought in.
Then it las most all been redeem
ed, has it:'
NO, indeed, aud what is more, q
very large amount will never be re-
deemed. There is now outstanding OF
the old fractional paper currency
something like Sl5, 600, coo. And of
this it is estimated that not more than
$4,000, 600 to So, 0C0, COO will ever como
III now"
But where is the rest and why will
il not come III for rcdcmption?"
"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 tho many fires
that have occurred since the time it
was issued, and in nu!Garous other
WAYS IT. i las 15Gen lost and destroyed.
Then there arc some other people who
hold all they can get to use in sending
small amounts by mail, finding it very
handy for that purpose. Then, too,
the old currency is now so scare that
people keep the occasional pieces that
come to hand as curiositics or pocket
pieces. y great many coin collectors
have crisp, unworn specimens of it i'll
their collections. One wealthy gen
tleman in this city know carries in
his pockctbooli, wrapped up with the
greatest care, four clear, bright specl.
mems, a fifty, twenty-five, a ten and
a five cent piece. Hc says it was the
first money he ever earned. 1t was
paid to him in these identical pieces,
brand new from the press, and he has
preserved them ever since for luck. l
do not believe YOU could buy them
from linn for 81, coo each. lie calls
them lis reserve capital, and if he
ever loses the million or more he IS
now rcputcd TO be worth he will have
his ninety cents reserve to fall back
on"
A coed deal of the fractional cur
rcncv that comes into the Su5-treasury
ior redemption turns out to be counter
felt. and the moment it comes into the
hands of the money changers of that
institution, no matter who hands 1t IN,
it is hurried to the block and branded
with the stencil cutting die. They ask
no permission, but just go and do it.
The Same rule is. followed, too, i'll the
F0.anda OMeoGi in n'i Sometimes ne nlsl men zen
- hen their bad bills
!, them mutilated in
,. 9 20 Pres 5 t.. 2.at they cannot DO