The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-21
CONTINENTAL CURRENCY.
VeouestS to Redeem Ii Still Sent to
the Treasury.

.+inq the Announcement That the
Money Is Worthless Nova Good
story on Downing, the Actor-Gen.
eickles Tells of His Contribution to
Help Texas Gain It's Independence.
washington, Nov. Periodically the
oesciaIs of the treasury department are
ado aware of the fact-indeed they are
,orsr permitted to lose sight of it long
that there is still a goodly amount of the
oId continental paper money in exist
once Their acquaintance with this fact
:. being renewed just now. Within the
mast three months numerous letters have
coached the office of the treasurer of the
T-nited States and of the Secretary of the
treasury, making inc uiries as to the value
nj the paper money put out by the thir-
teen original states during the reyolu-
tiou. Most of the inquirers want to know
if rhe old notes are to be redeemed and at
what rate In some instances bundles OF
the stuff have been forwarded, with the
request that there be sent to the shipper
thereof what is coming to them III legal
tender notes.
Much as the officials dislike to destroy
this delusion and uproot the touching
faith of the senders OF a few barrels of
This fat money of the fathers, the cold,
cruel. unfeeling law compels them to re-
.nlv 10 the effect that continental money
Is still not worth a continental; that it
went the way of the worthless as soon as
the revolution was over. and that it has
remained at that destination ever since.
lone would think that these are we'll
known facts; but they are not.
a., 4 - n
disturbance in this country, and every
time there lisa general discussion of the
national monetary system, the owners of
old continental paper do what they are
doing uow-write letters of inquiry and
send the stuff in for redemption. They
get the idea into their heads that the
government is going to make good the
promises of the fathers and add thereto a
solid increment in the way of interest.
Then they communicate with Washington.
THE IDEA WON'T DOWN.
The official of the treasury department,
within whose jurisdiction such things are,
to-day told me that, within the past
twenty years, the idea that continental pa
per money was worth something had been
"a broad at least a dozen times. He is pre-
barring a circular letter, which he will
have printed, and which will be sent out
to future seekers of information on the
point in question. This will save a good
deal of trouble. That is it will save him
the trouble of writing a letter to each in
guirer He can answer them in block,
as it were. He does not for a moment ex-
pect that the people who have continent
tai paper money in hand will ever be con-
WINGED that it is worthless. He says his
tory is against it.
That is one side of the shield. The
other is seen in the fact that bonds and
Other securities of the United States, as
good as gold" and which the govern
1ment has called in, that is announced
that it was ready to pay, and on which
interest has long since stopped, so that
There can be no business reason for not
presenting them for payment, are still
outstanding and unpaid, and their owners
unknown to the officers of the government.
gIhe holders of the continental paper
want money for their holdings, the others
DO not care a continental for it.
The amount of these Called-iu but out
Standing and unpaid bonds and securities
is more than $4,000, 900 and it is growing
Every year The missing securities run
back to the loan of 1870. AT long inter-
yals S25 bond issued under the bounty
land script act of Feb. II, 1917, comes to
the treasurer of the United States for re-
Exemption. Under this act any hOnOrably
soldier, who served in the
Mexican war for more than twelve
received, at his option, 100 acres
of land or a certificate for 500. Those
Serving for less than twelve months under
the same conditions got forty acres
or a S25-certifcate. There We're issued
under this act certificates amounting to
S233O15, bearing interest at the rate of 6
per cent. They were called in two years
later. when, of course interest on them
ceased. In spite of this, certificates of
this issue are still outstanding, amount
6ng to $500. Two of these S2j certificates
NTere redeemed last year.
OTHER CERTIFICATES OUTSTANDING.
Besides these Mexican war certificates
there is the loan of February, 1861; the
Oregon war loan, and the loan of July and
august, 1861, of which q good deal is
still outstanding.
Last year the treasurer redeemed 81
Foo of the loan of 1862; 81 coo of the loan
'ot June. 1864 81, 800 of the consols of 1865,
Ion which the interest ceased in 1870; 81
POO OF the ConsOls of 1867, on which the in
terest ceased in 1879: and S45, 200 of other
loans on which the interest ceased be-
tween 1879 and 1887. On every issue of
bonds, the government therefore can
.count on a certain small percentage of
.them as clear profit. Referring to this
percentage the chief of the division of
currency and loans said:
The proportion of bonds unredeemed
'ls quite small, because bonds are usually
pm the hands of persons who purchase
Them for investment and take good care
|ot them. Bonds differ in this respect
prom money, which passes from hand to
hand Besides the smallest denomina-
tlon Of bonds is $50. and they are, more
aoVer very much larger than circulating
notes, and are, consequently, more diff
quit to lose. Nevertheless, some of them
are lost, or put away and forgotten.
STORY ABOUT DOWNING.
us known of all men, all newspaper
men particularly, that actors delight in
Pre- advertising. One of their fayorite
#l4e,hods is to associate their names with
nose OF men prominent in public
Ile 1t gives them an i'm
s. porlance beyond their professional stand
ing Robert Downing, the tragedian,
Is not above an appreciation of this
For of gratuitous and incidental fame.
4 u helped to avert a possible fall Of snow
n The box Office. His press representa-
1--WE, who used to run the World bureau
.JJre' has just got back to town, and is
se'HHg good story aprOpos of this weak
buskiu.
Being called out west for an authentic
e-o'} Of his art, he told a highly favored
o-t' 10 the effect that Downing would
;;you retire from the stage and enter pol
t,tlS. According to this veracious chron-
~, ~ 'cf OF facts which have no existence,
mere was demand made upon Downing
w., ~ inc people of Maryland, among whom
4 To- L. L.