Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1890-03-07
BANK OF ENGLAND.
something About tho Rich Old Lady q
ThreAdneedle Street.

WHICH inc conversion OF b NEW xOEK QT11t
into Bank Of England notes formed per-
fecting link in the chain OF evidence by
which the prisoners were convicted sug-
gested to the New York Graphic brief do
scription Of the banks methods with regard
to its issue.
The paper on which the notes are printed
is made by private factory in Yorkshire
under strictly guarded conditions as to the
water-mark, which is so conspicuous feat
ure. It is of silver white and 30 strong
that it will sustain fifty pounds in weight
when suspended at the corners. The print
ing is performed at the bank IN Thread
needle street, including the signature Of the
nominal maker Of the draft. The drafts or
notes used formerly to be signed by assist
ant cashiers, but the issue eventually be-
came top large to admit Of sign manual
beng issued, 50 printing was substituted.
Each. individual note as soon az issued
has its number, letter, date and denomina-
tion placed to its debit in o ledger account,
the per contra being filed on the return Of
the note. perhaps the next day. Some years
ago lot Of FL notes issued in the middle of
last century were handed in for payment.
A reference to the ledger of that date
showed the credit side Of the note with cor
responding numbers to be open, 80 the
drafts were duly honored.
The lowest denomination now issued is of
R5, the highest of 10000. A notable feat
ure Of the Bank Of England note, when
compared with that Of other issues and
countries, is its crispness and clearness.
The simplicity of design and clearness of
lettering and figuring are very conspicu-
GUS. The reason whywe never find tattered
and foul Bank of England bills or bank
notes, as the Englishman prefers to call
them, arises from the custom OF the bank
Ia
time. This r6le ID so scrupulously observed
that should . Thousand notes Of 95 each
issued in the morning in exchange for gold
at the issue department come into the hands
OF the banking departments as customers
deposit in the afternoon, possibly without
having been united, they would be imme-
diately Cancelled. This Cancellation is per-
formed by tearing off the signature corner
Of each note. the number and date being
first recorded by the receiving clerk on his
counter cash book.
The mutilated bills at tie banking de-
partments are collected at 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, and after ten years. interval
consigned to the flames.
The detection Of the forged bank note fs
almost inevitable under this system. Sim
ply to initiate the paper is difficult, the best
imitation being readily perceptibfe to
practiced touch. To counterfeit the print
ing is almost impossible, owing to the abb
sence Of complexity to confuse the eye, and
third reliance for the paying teller as he
rapidly scans the notes before shoveling
out the gold in exchange is q popularity
known only to the initiated.
Should q forgery slip through these
guards tho number and dates and denem-i
ination must all correspond with the ledger
entry, and should all these agree tho
chances are that the legitimate note will
have already filed up the blank.
It is the rule in all London banking houses
and in most private establishments to re.
cord the date and number of every bank
note passing through their hands, together
with the name Of the person presenting 1t.
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 to these 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 pumbar Of Cancelled, Is from 10000 to
H,0U, bat vaen forgery is known to be
afoat all Of that particular denomination are
poured in by their holders for exchange or
redemption, and as many as O,OO0 notes uu.
der such circumstances have been presented
and cancelled in one day.
A an Offset to this expense the yearly
| gain to the bank in notes destroyed BY fire
and water amounts to large sum, which,
however, IL taken into account by. the Gov
srnnent when adjusting its National debt
| and excuequer arrangements with hSkehank
The t'Qid Lady Of Threadneedle. Street,,
IN the Londoner lovingly calls the fnstita..
ton, which next to his Queen hG most deep
| ly reveres, ia very liberal when dealing
with cases Of notes destroyed or mutilatcd.
The secretary's Office attends to those mat
tors, and there may be seen daily remnants
| Of notes which have undergone every con-
/ ceivable ordeal short Of absolute destruc-
| tlon.
Little pulpy masses that have passed
through the digestive apparatuses OF dogs
and children, half burned pieces that have
unwlttingly done duty as cigar lighters,
remnants Of every kind Of which enough ID
left to indicate IN the faintest degree the
original worth-all receive full considera-
ton and the owners lose nothing. Even
total destruction when fully proved is no
bar To tndemnthcation when good security
against possible mistake is given.
Cost of Champaeno Corrs