The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-01-22
UNREDEEMED MONEY.
Various Ways in Which Uncle
Sam Has Made Millions.
WORK OF THE PARLOR STOVE
Nearly Fifty Per Cent. of the Fractional
Currency Still in the Pockets Of
the People.

'The parlor stove is considerable source
of income to the United States treasury,
though the contributors to the fund &C
cumulated by its means are invariably
most unwilling ones" said treasury Off
cial.
"Of all ways of boarding paper money
none appears to be in such universal favor
as that of hiding it away in an unused sit
tirg room stove during the summer time
When the fire is lighted in the autumn the
cash goes up in smoke, and then the owner
makes application to have the ashes re-
deemed. The chief Of the redemption di-
viaion said that not less than 100 such cases
were submitted to him every fall. Some
times the remains are not too far con-
sumed for Identification, but as rule this
method of destroying money is found to be
singularly effective and hopeless. There
was received at the treasury S120, in the
shape of small quantity of ashes packed
into a thimble, from Texas. The woman
who owned the s120 had drawn the sum
from bank and deposited it in stove for
safer keeping, with the usual result. I'm
fortunately the ashes were indistinguish
able from any other ashes. and so she lost
the amount.
MONEY DESTROYED BY FIRE.
"It is most interesting fact that nearly
all the paper money destroyed by accident
meets its fate on the rail- Whenever rail
way disaster occurs fire usually ensues,
and the express car is burned. Now, an
express car almost invariably carries a
safe with more or less money in it, among
other valuables. The safe, unless it is one
for transporting government money, is apt
to be one of the portable kind and not fire
proof. Thus it is an almost every day oc-
currence for one of these safes to arrive at
the treasury here with its cash contents in
the shape of more or less hopeless ashes.
For example, take an accident that oc-
CURED in Kentucky. Two trains met in a
tunnel, oneof them loaded with passengers
and the other freight, carrying coal and
iron. For thirty hours the wreck burned,
and such was the heat generated that the
iron was melted and flowed like water. In
the express car of the passenger train was
safe with 81 900 cash in it, besides lot of
jewelry. 1t was all paper money and was
reduced to ashes. Seven hundred dollars
is all that the redemption division has been
able to get out of it in condition for puY-
chase with fresh United States notes. This,
the authorities say, is the worst ordeal
through which an express safe has ever
| passed.
BURNED MONEY REDEEMED.
'You would be astonished to see how lit
| tie in the way of remains is required, when
passed under the hands of the treasury ex-
perts, to procure the Identification and re-
demption Of burned paper money. A few
bits, so hopelessly charred as to seem to the
ordinary eye but a small accumulation of
| ashes, may be redeemable for thousands of
dollars in bright new bills at the paying
teller's desk. All that is required is suf-
ficient evidence that the originals of the
notes have been really destroyed. Morsels
no bigger than your finger nails are every
day redeemed for the face value of the bills
they represent. As to this it is largely a
matter of chance. If the morsel were mere
" corner it would not be likely to suffice
for the Identification of the note.
"Supposing that the case is that of a
banknote, it is absolutely essential that
the bank should be determined, else pay
ment cannot be made. But let the bit pre-
sented show the name of the bank, its
number or even portion of one of the Off
GERS signature, and it goes. Until very re
Gently portions of notes sent in have beer
redeemed on the discount principle-nine
tenths of ten dollar bill bringing 50, ant
so on-but now the law is that the smallest
portion is redeemable at full face value i
only it is accompanied by satisfactory aft
davits as to the loss of the remainder
Some few attempts have been made tt
swindle the treasury in this way by falls,
affidavits, but the department believes tina
it has always discovered them.
''Uncle Sam has made a good deal o
money by his paper cash that has been &C
cidentally destroyed. Of course ever,
penny of it that is not handed in at tn
treasury for redemption is SO much in hi
pocket. In this way he has found his is
sue of fractional currency most profitable
These small notes-for 5 cents 10 cents, 2
cents and so cents-were easily destroyed
especially during war times.
PROFIT IN PAPER MONEY.
"The first issue was made in 1863 and O
the 5 cent notes then put forth nearly one
baltimore than 45 per cent, accuratel
speaking-has never been asked paymen
for. The same thing is true of 30 per cent
of the 10 cent notes, 20 per cent. of the
cent notes, and IL per cent. of the so cen
notes. 1t is shown by the figured treasur
total that of the $50, 000, 900 worth of thes