Daily Yellowstone journal., 1890-05-03
FRACTIONAL CURRENCY.
Gus That Have Never Been Redeemed.
larts .kpuut ,ountsrteits.

Other NaN, i~ ItrtNpu>tu Ia view "a lllll
dozen pi re', # ragged, dirty paper. \
close Inspection revealed that they
wrp Irrational paper currency ur
''shiupia>tgr>, such as played ~ i'm
portant II paIi ~ circulating medium
beiosr the resumption of specie pay.
mcut. The young man vas directed
Ia the small change room, where X,
4. Hail took the >oIled and crunpled
bits in his hands, Smoothed them Oul
with the hasty touch of an expert,
singled out one of the pieces and
turned around To Il bit Of wood that
looked Ikea small butchers block. and
struck ON it the selected piece of paper
a whack with "A steel instrument. Then
turning t. the young man, he replied:
These live are good. but that one
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 Ia had struck the paper
was a sharp stencil die that cut the
tell tale wori ~ clearly that il could
never be eifaced, and the veriest fool
could see that IL was worthless.
DO you want these redeemed" con
tinued Mr.. Half, as he pointed to the
i've grimy slips on the marble coun-
ter.
Yes, sir, il you please, stammered
the youth. as lac eyed with surprise
and fear the mulilated piece returned
to him. Mr.. Half put two bright sill
yer dollars and a silver quarter ON the
counter. which the boy picked up in a
hurry rs though he wa, afraid they
would be- taken back again,
DO you get much ui that old frac.
lional currency nov Was asked OF
Mr. Hail rs the boy went ont.
No he replied. " get very lit
tie now, no more tEan 81. 5OO "a year.
The amount comlmg im Tor redemption
l. growing les, and less every year.
Ii used Ia come in here 10y the bushel
basketball. But TOR many yeals now
it has only come IA IN driblets. We
seldom ct ~ match at time as that
young man just ,rought in"
Then II has most all been redeem.
ed. has it,
mo, siudrcd and what is more, a
very large amount will eve be ne.
deemed. Thcp' l. ~ outstanding Of
the old fractional paper currency
something like SIS. 600. 900. And Of
this il is estimated that not more than
5000, 900 to 81. 200. 900 will ever come
in now.
But where l. the rest and why will
it not come in for redemption!
"A great deal of it mas been worm
out by the wear and tear Of twenty
odd years of usage. ANY quantity Of
il has been burned up in the many Tires
hat have occurred since the time il
was issued. aud III numerous other
ways il 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.
the old currency Is o so scare that
people keep the occasional pieces that
come 10 hand as curiosities or pocket
pieces. A great many coin collectors
have crisp. 1--WE specimens Of it in
their collections. One wealthy gen.
tleman in this city j know carries in
his pockctbook. wrapped up with the
greatest care, four clear. bright speci,
meus, a fifty, "A twenty-five, a ten and
a five cent piece. He says il was the
first money lre ever earned. II was
paid to him in these identical pieces,
brand new from the press, and he has
preserved them ever since for luck. ]
do not believe you could buy them
from him for $1,000 each. He call,
them his reserve capital, and If he
ever loses tie million or more he il
now rpuicd to bc worth he will have
his ninety cents reserve Ia fall back
on"
A good deal Of the fractional car
rency that comes into the ~snb-trrasury
for redemption turns out to be counter
felt, and the moment ii colnc into the
hands of the money changers of thai
institution. no matter who hands il 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 de
nominations come in. Sometimes men
get very angry when their bad bills
are handed back Ia them mutilated in
such "a manner that they cannot be
used.
A few days ago the South Ferry
company sent up 10 the sub-treasury y
bundle of the fractional currency, re
presenting about 800. 1t had been
discovered back of a partition in the
old ferry house, where it had either
been slowed away or misplaced anC
was found when the old building was
torn down la make room for the new
structure. Mr.. Iiaff shutfled through
the pile. and not only pronounced i
al counterfeit, but discovered tua'
some If it had been brought 10 tn,
sub-trcasury at least twenty years ago
as the marks Of the old stamps used al
long ago rs that 10 mark counterfeit
paper money was still plainly visible
on them. Each piece was subjected u
the cutting process, and will probably
not be presented again for redemption
All the fractional paper currency
that is redeemed at the ~subetreasury Il
sent 10 the treasury at Washington
where it i, placed in the crematory
and burned up. and all that is left Is
sediment Of Stag, a single pound ol
which may represent 800 900; til,
balance floats off as smoke and gas
M N-.l. .-ul A.lAa