Johnstown weekly Democrat. (Johnstown, Cambria County, Pa.) 1889-1916, 1890-06-20
ANTIQUATED MONEY.
MILLIONS OF DOLLARS THAT HAVE
NEVER BEEN REDEEMED.

MANY small Notes Are still treasured as
Curiosities-A Little Comes in Every
Year-How Counterfeits Are Stamped.
Facts About Scrip.
Say, mister, are these any goodF' in
quired timid looking youngster of
Doorkeeper Brady at the sub-treasury
the other day as he hauled out half
dozen pieces of ragged, dirty paper.
A close inspection showed that they
were pieces of fractional currency, or
"shinplasters, such as played so i'm
portant part as circulating medium
before the resumption of specie pay
ment.
The young man was directed to the
small change room, where he again
asked the same question of R. @. Half,
who is in charge of that department.
Mr.. Half took the soiled and crumpled
bits of paper in his hands, smoothed
them out, and with the hasty touch of
an expert singled out one of the pieces
and turned around to block of wood
behind him that looked like a butchers
chopping block. He laid the selected
piece of paper on the block and gave it
a whack with steel instrument; then,
turning to the young man, he said:
"These five are good, but that one is
counterfeit"
AS he spoke he handed back the bad
token, 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 the bit of currency never would be
current again, and any fool could see
that it was worthless.
do you want these redeemed?" con-
tinued Mr.. Half, as he pointed to the
FIVE grimy slips on the counter.
Eyes, sir, if you please" stammered
the youth, as he eyed with panied sur
prise the mutilated piece returned to
him. Mr.. Haff put two bright silver dol
lars and silver quarter on the counter,
which the boy picked up in a hurry, as
though he were finding them in the
street.
LOTS OF MONEY LOST.
DO you get much of that old frac-
tional currency now?' somebody said to
Mr.. Half as the boy went out.
mo" 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 we only receive
it in driblets. We seldom get as much
ut time as that young man just brought
in."
"But it has not all been redeemed,
has it?"
mo, indeed; and, what is more, very
large amount will never be redeemed.
There is now outstanding in old frac-
tional something like $15,000,000. And
of that it is estimated that not more
than $3,0O0,000 to $5,O00,0 900 will ever
come in"
''But where is the rest and why will it
not come in for redemption"
"a great deal of it has been worn out
by the wear and tear of twenty odd
years. Any quantity of it has been
burned up in the fires that have occurred
since the time it was issued, and in
numerous other ways it has been lost or
destroyed. Then there are some people
who hold all they can get to use in send
ing small amounts by mail, finding it
handy. Then, too, the old currency is
now so scarce that people keep the occa-
sional pieces that come to hand as Curl
osities or pocket pieces. A great many
coin collectors have crisp, unC irculated
specimens of it in their collections. l
know one wealthy gentleman in the city
who carries in his pocketbook, wrapped
up with the greatest care, four clean,
bright specimens-a fifty, twenty-five,
a ten and a five cent piece. He said 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
kept them ever since for luck do not
believe you could buy them from him to-
day for 81 900 apiece. He calls them his
reserve capital, and if he ever loses
million or more, as he is now reported to
be worth, he will have his ninety cents
reserve to fall back on"
DETECTING CoUNTERFEITS.
A good deal of the fractional currency
that is brought to the sub-treasury for
redemption turns out to be counterfeit,
and the moment it comes into that place,
no matter from whose hands it comes, it
is hurried to block and stamped ''coun-
terfeit" with the stencil cutting die.
They ask no permission, but just go and
do it. The same rule is followed, too, in
the rotunda where the bills Of larger de-
nomination come in. Sometimes men
getvery angry when their bills are hand
ed back to them mutilated in such a
manner that they cannot be used.
Not long ago the South Ferry COM
pany sent up to the sub-treasury a bum
die Of the fractional currency represent
ing about 800, 1t had been discovered
back Of partition in the old ferry house,
where it had been either slowed away or
misplaced, and was found when the old
building was torn down to make room
for the new structure.
Mr.. Half shufled through the pile and
not only pronounced it all counterfeit
but discovered that some of it had been
brought to the sub-treasury at least
twenty years ago. as the marks of the
old stamps used as long ago as that to
mark counterfeit paper money were still
plainly visible ON them. Each piece was
subjected to the cutting process, and will