Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1892-07-26
FRACTIONAL CURRENCY.
Millions That Have Never Been Rcdeeme,
Facts About Counterfeits.

q tlmlu looking young man Of Door
keeper Brady at the sub-treasury the
other day, as he exposed to view halt
dozen pieces Of ragged, dirty paper. A
close inspection revealed that they
were fractional paper currency or
'shinplasters, such as played SO i'm
portant part as a 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 a bit of wood that
looked like small butchers block, and
struck on it the selected piece of paper
whack with a steel instrument. Then
turning to the young man, he replied:
'tThese five 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 he had struck the paper
was o sharp stencil die that cut the
tell tale word SO clearly that it could
never be eHaced, and the veriest fool
could see that it was worthless.
"Do you want these redeemed2" con-
tinued Mr.. Hatf, as he pointed to the
five grimy slips ON the marble coun-
ter.
Eyes, sir, If you please" stammered
the youth, as he eyed with surprise
and fear the mutilated piece returned
to him. Mr.. Half put two bright sill
yer dollars and silver quarter ON the
counter, which the boy picked up in a
hurry as though he was afraid they
would be taken back again.
''Do you get much of that old frac-
tional currency nowW was asked of
Mr.. Half as the boy went out.
No" he replied, 1--WE get very lit
tie now, not more than So, 500 year.
Tho 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
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 redeem.
ed, has ita"
No, indeed, and what is more, q
very large amount will never be re-
deemed. There is now outstanding oil
the old fractional paper currency
something like $15,000,000. And OF
this IL is estimated that not more than
SO, 900, 900 to 81, 900, 900 will ever come
| in now"
but where is the rest and why will
it not come in for redemption2"
| 1..l -
out by the wear and tear of twenty
odd years of usage. Any quantity oil
il has been burned up III the many fires
that have occurred since the time il
was issued, 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
the old currency is now so scare tina
people keep the occasional pieces tina
come to hand as curiosities or poke
pieces. a great many coin collector
have crisp, unworn specimens of it II
their collections. One wealthy gen
tleman in this city | know carries il
his pocketbook. wrapped up with tn
greatest care, four clear. bright speci
mems, a fifty, a twenty-five, ten ant
five cent piece. He says il was tn
first money he ever earned. 1t wa
paid to him in these identical pieces
brand new from the press, and he Ia
preserved them ever since for luck.
do not believe you could buy then
from him for 81 900 each. He call
them his reserve capital, and if h
ever loses the million or moro he i
now reputed TO be worth he will hav
his ninety cents reserve to fall bacl
on"
A good deal of tho fractional cur
rency that comes into the sub treasur,
for redemption turns out to be counter
felt, and the moment it comes into tn
hands of the money changers of tina
institution, no matter who hands it in
it is hurried to the block and brande
with the stencil cutting die. They as
no permission, but just GO and do il
The same rule is followed, too, in tn
rotunda where the bills of larger dc
nominations come in. Sometimes me
get very angry when their bad bill
are handed back to them mutilated il
such a manner that they cannot b
used.
A few days ago the South Ferr
company sent up to the sub-treasury
bundle of the fractional currency, re
presenting about 300. 1t had bee
discovered back of partition in TIA
old ferry house, where it had eithe
been slowed away or misplaced an
was found when the old building wa
torn down To make room for the ne,
structure. Mr.. Half shuflled throug
the pile, and not only pronounced
all counterfeit, but discovered tina
some of it had been brought to tn
subtreasury at least twenty years age
as the marks of the old stamps used o
long ago as that to mark counterfe
paper money was still plainly visibl
on them. Each piece was subjected I
the cutting process, and will probabl
. not be presented again for redemption
All the fractional paper currenc
that is redeemed at the sub-treasury
sent to the treasury at Washington
where it is placed in the cremator
and burned up, and all that is left is
sediment of Stag. single pound G
which may represent 800, 900; tn
balance floats off as smoke and gas. =
New York Commercial Advnrtisar