The Critic and record., 1891-04-04
UNCLE SANS RICHES.
uuRdrcds of Millions In Bonds and
Metal Nancy.


Metal Money.
II is not generally known that under
The stone portico ON the south front Of
the Treasury there is stored a mine of
wealth that exceeds in monetary value all
the gold i'm the famous Comstock lode,
tegethcr with all the diamonds of
GClConda.
In large room located at that point is
huge steel vault. which contains many
hundreds OF millions Of Government
bonds registered stock and coupon stock
and other stocks. 1t is rare that visitors
find their way into this subterranean
chamber, but the few who are accorded
the privilege will discover that one man,
q clerk whose salary is only 81 800 per
aunum. has charge Of the doors that lead
into this fabulous mine of money for
Government bonds are nothing short of
promises to pay, just as are our circulating
notes.
The division to winch this trusted ind-
vidusl belongs is a part of the Registers
Office, and the employees, male and female,
are engaged in registering the changes that
daily occur in Government securities
1t may not he generally known, but a
coupon bond--that is n bond with interest
coupons attaChed-is as negotiable as a
Treasury note. The person who presents
II for payment is presumably its owner,
ana lt CAN nave II TttlCelleu WITHOUT any
annoying questions being asked as TO how
it came into his possession.
IL is quite different with the class of
bonds known as registered stock
These have no coupons attached, and the
interest ON them Is paid every quarter
by checks issued by the Treasurer of
the United States.
Both classes are printed because bus-
ness men prefer the coupon stock, while
trtfn rGiang pyqgt1tnrg Q1ptiniG - fArg "a nd
other permanent investors prefer the reg
istcred series.
The coupon bonds contain no inscrip-
tion of any kind save the signatures of
the Treasurer and the Register, while the
name of the purchaser, be he guardian
administrator or what not, is inscribed
on the face of the registered stock issued
to him; and his name afterwards just as
carefully entered on a big ledger rs the
purchaser of such bonds, giving their
series, numbers, etc,
On the backs of these registered Sc
curities are blank spaces, admitting of
their transfer but certain official
formula must be complied with and
the Register notified, so that such
transfer can be recorded on the books of
the Registers Office.
The Government has issued no bonds of
late years, but, on the contrary, has been
busy buying up those outstanding, never
theless, if an expert cracksman could
manage to chisel his way into the cham
Der under the south portico of the big
Treasury building and escape with
single package of registered stock he
could flood the market with q hundred
millions of Government securities, for
each package, although weighing less
than six pounds, contains that amount of
wealth.
It may be stated in connection with this
bond story that the money vaults Of the
Treasury are located in the opposite or
north wing. Deep down in the bowels of
the earth in the moth court is constructed
huge vault as large as a music hall, and
into this chamber the Government boards
its silver and such gold as is kept on de-
pCsit in Washington. This metal money,
because of the damp atmosphere of the
vault, is secured in boxes, all of the same
design and each box containing 81 900 in
dollars
The cellars in which these boxes are
stored are not unlike the cells of prison,
and the boxes are arranged tier upon tier
| as neatly as merchant arranges his wares.
Guards constantly watch the entrance
! to this dismal chamber during the day.
and at night sentinels have their beats
which they follow as regularly as soldiers
| pace their posts. Situated near the MAIN
entrance TO the building, but concealed
from view, is the office of the captain of
| these sentinels, and in this Office is rack
| Of Winchester repeating rifles, one for
! each guard, which are kept in constant
readiness for action. II would require
| superhuman nerve in a mob to face the
| fire of these terrible weapons handled by
| cNpert markSmen.