The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-08
RRpEEM1NG PAPER MONEY.
Conditions in Which the Bills Reach
the Treasury at Washington.

| the treasury at Washington.
From Kate Fields Washington.
When paper money has once been issued,
the life of bill-unless it is kept in stock
| ing is but four or five years. Then it
comes back to the treasury for redemption.
In the redemption division of the treasurer's
office thirty women count not less than
! $500, 900, 900 year. The total amount OF
paper money of all kinds issued during the
| year ending July l, 1891, was 1898, 009, 02l.
| AS soon as the money which
is to be redeemed during the next
} twenty-four hours has been counted into
bundles, they are put under machine
| which punches four Jagged holes in the bills
one in each corner. After this, 1t has TO
| be cut in two, the long way. One-half of
each bundle goes to the secretary's office,
and the other half to the registers office
for further counting. When all counts
tally, and the orders Tor iss uing new money
| in return for the old have been properly
made out, the chopped bundles are ready to
be looked in the big steel wagon and taken
to the bureau of engraving and printing.
| With 1t goes representative from the
treasurer's office, one from the secretary's
| office, and third from the registers
| Each man is armed with a key to his re-
| spective one of the three locks which fasten
! up the mouth of the huge macerator. Into
this the WORKOUT notes are tossed, and
ink, they are locked up. Once In three days
steam is turned on and the machine re-
wolves for sixteen hours, when the pulp is
removed, and afterward is pressed into
sheets and sold to paper mills. The value
of the charge varies greatly, OF course,
with the kind Of money which has been re-
deemed, For instance, one day recently
there was 1,279 pounds of paper brought
over from the treasury. with total value
of 1916, 500 81. Much of this was revenue
stamps. The next days charge was 1000
pounds, 189 pounds less than that of the
previous day, while its value was Si,907, $40
greater. This charge was all bills, and
some were of large denominations. The
pulp of postage stamps Is OF no use, and is
allowed to run OFF into the sewer.
The series of the issues Of paper money
are too many to mention, but there are four
distinct kinds. There are the United States
note which will be forwarded in return for
United States notes unit for circulation,
national bank notes, fractional silver coin,
or for nickels or pennies.
Gold certificates are issued upon a de-
post of gold coin in denominations of not
less than $40. Silver certificates require a
| deposit of standard silver dollars, or OF sill
| yer certificates unfit for circulation.
Treasury notes are issued in payment for
| silver bullion.
United States notes, in sums Of $50 or
! more, can be redeemed in gold coin. Frac-
tional silver coin is given in return for an
| equivalent sum in United States currency
or national bank notes. Nickels and PEN
| MES may be shipped directly from the
| Philadelphia mint in sums Of 800, or multi~
| pies of il, in exchange for an equivalent
| draft on New York or Philadelphia, pay
able to the order of the superintendent of
| that mint.
When United States notes, fractional
| currency notes. gold certificates silver
| certificates aud treasury notes are not
| mutllated so that less than three-hfths of
the original proportion remains they are re-
| deemable at the treasury, or at any sub
| treasury, at face value. When mutilated
so that less than three-fitths, but clearly
| more than two-ffehs, is left they are re-
deemable at the treasury only, and for but
| one-helf of the face value of the whole note
| or certificate, The reason Is obvious. If
| exactly three-ffths were redeemable at face
| value, and exactly two-fifths for half value
the owner might get full value and half
value for the same note, If the redemption
was Judiciously managed.
When the fragment is less than three
fitths-whatever the size-it will be re-
deemed for full value at the treasury only
when the owner makes affidavit that he
knows the missing portions to Fhave been
totally destroyed. The affidavit must state
how the mutilation occurred, and must be
sworn to before an officer qualified to adj
|
official seal and certify to the good charac-
ter of the attant. After all this the treas
urer has to exercise his own discretion, and
| must return all fragments not redeemable.
A great deal of discretion is necessary.
Recently a fragment reached the treasury
II was less than two fifths of the original
note. the applicant was informed that he
of the remainder. Back came
an affidavit to the effect that the
fragment had been found under such cir
cumstances that the sender was positive of
the destruction Of the other portions.
This ended the matter at once so far as he
was concerned, for the government does
not redeem found money if 1t is aware of it.
Here comes in the strange coincidence. By
the same mail that brought the affidavit,
there came in letter from another man
postmarked IN the same city, however-the
missing part of the note. Inquiry revealed
the fact that the first sender was dis
charged employe Of the second. and had
stolen the fragment
The most interesting of all the processes
carried on in the treasury is the Identified
| ton of bills which have been partly de-
stroyed by fire. rats or similar accidents.
This work is done by women. There are
two who can and do identify all kinds of
United States currency. There is one man
who can do it, but he won't Another
woman knows the names, numbers ETC.. of
all national bank notes, and has to identify
| them.
1t happened that in the comparatively
recent Wabash railroad disaster money was
being sent by express TO the assistant treas
urer at st Louis. When the little iron safe
was dug out of the ruins it had to be shipped
directly to Washington, for the treasury
will not redeem badly burned money unless
il has the first chance at it. The safe was
unlocked in the redemption division, and the
! 10
erty-taken care, and then the women had
to decide whether the ashes of the inven>
toried notes were all there.
A Story OF Burnside and Conkling.
Gen. Burnside was interested in the con-
, frmation OF a young man who had been
, appointed by President Hayes, and Senator
| Cnpkljnp ~