Waterbury evening Democrat., 1890-03-12
.FRAoTiolsAL cORRENo7
All1lo16 og Dollaxs That Have Mover Uoen
 RASAoAvnDd.

"6ay, are these any good?" inquired timid-looking young man of Doorkeeper Braly at tho sub-treasury the other day as he exposed to view . half doxen pieces of ragged, dirty paper. A close inspection, says the New York Com mercial Advertiser, revealed that they were fractional paper currency or ''shin-plasters," such as played 90 im- portant a part as circulating medium before the resumption of specie pay ment. The young man was directed to the small change room. where R. 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 bit of wood, that looked like a small butchers block, and struck on 1t the selected piece of paper a whack with steel instrument. Then turning to the young man he replied:
 "These five are good, but that ono is counterfeit"
 As he spoke he 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 l effaced and the veriest fool could see l that 1t was worthless.
 l Do you want these redeemed?" cor- tinued MT. Half, as he pointed to tho Ave grimy slips on the marble counter.
 "Yes, sir, if you please" stammered the youth, as he eyed with surprise and fear the mutilated piece returned to him. MT. Half put two bright silver dollars and a silver quarter on tho counter, which the boy picked up in 8 hurry as though he was afraid they would be taken back again.
 "Do you get much of that old frac- tional currency now?" was asked of MT. Half as the boy went out.
 "No," he replied, i've get very little now, not more than $2, 500 a year. The amount coming in for redemption is growing less and less every year. It used to como in here by the bushel basketful. But for many years now it has only come in in driblets- We seldom get as much at a time as that young man just brought in"
 "Then it has most all been redeemed, has it?''
 No, indeed, and what is more, 8 very large amount will never be re- deemed. There is now outstanding of 
 thing like $15,OOO,OOO. And of this it is estimated that not more than S, ,OO0, 900 to $5, 900, 900 will eyer come in now"
 ''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 of usage. Any quantity of it has been burned up in the many fires that have occurred since the time it was is- sued, and in numerous other ways it has been lost and destroyed Then there are 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, tho old currency is now so scarce that people keep the oc- casional pieces that come to hand as curiosities or pocket pieces. great many coin collectors have crisp, unworn | specimens of it in their collections. One wealthy gentleman in the city I know carries in his pocket-book, wrapped up with the greatest care, four clear, bright specimens, 50, 25, a 10 and 5-cent piece. He says it was the first money he ever earned. twas paid to him in these identical pieces, brand new from the press, and he has pre- served them ever since for luck. I do l him for $1 1000 each. He calls them his reserve capital, and if he ever loses the million or more he is now reputed to be worth he will have his 90 cents reserve to fall back on."
 A good deal of the fractional currency that comes into the sub-treasury for re- demption turns out to be counterfeit, and 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 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 denom- ination come in. Sometimes men get very angry when their bad bills are handed Jack to them mutilated in such manner that they can not be used.
 A few days ago the South Ferry Com parry sent into the sub-t treasury a bundle o0 o1 the fractional currency representing N x about $1OO. It had been discovered back 5e of partition in the old ferry-house, 2 where it had either been slowed away or misplaced and was found when the !; old building was torn down to make lt room for the new structure. MT. Half < shuffled through the pile, and not only '' pronounced 1t all counterfeit, but dis covered that some f t had been brought to the sub-treasu y at least twenty years ago, as the marks of the old stamps used as long ago as that to mark coun- terfeit paper money was still plainly visible on them. Each piece was sub ject to the cutting process, and will E. probably not be presented again for re- demption.
 All the fractional paper currency that is redeemed at the sub-treasury is sent to the treasury in Washington, whore it is placed in the crematory and burned up, and all that is left is sediment of