Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-01-06
DIRTY PAPER MONEY.
What Treasury Officials Say of Mr.. Outh-
waits Measure.

what Treasury Officials Say of Mr. Outh.
waits Measure.
The question of tho possibility of transmit.
ting infectious diseases by means of paper
money brought before Congress by Mr. Outh.
waite's bill is being followed up by the
Treasury Department. For some time past
the paper money sent to the treasury
for redemption has been so great that the
force in the redemption divisions of United
States Treasurer Nebeker's Office has been com
PEELED to work from n. m. to pm. to keep ur
with the current incss.
The danger of infection from dirty paper
money has not been exaggerated if recent re-
ports are correct. A meteorological analysis
Of the bank notes of Spanish bank in Havana,
made recently, showed 10. 900 microbes on some
of the notes. Eight rathogenic species were
encountered including those OF diphtheria and
tuberculosis.
Mr.. A. b. Hepburn and United States Treas
urer Nebeker both recognize the peril from
this source and concur in the opinion that
more adequate means should be provided for
keeping clean paper in circulation.
Controller Hepburn. speaking more rar-
ticularly of national bank notes, said today that
national banks are required to keep a fund
equal to 5 per cent of their circulation on de-
post with the United States treasurer for the
purpose Of redeeming all notes when presented
Any bank, state or national. any individ-
ual. he continued. may send national bank
notes In sums of 1000 any multiple thereof
to the treasury for redemption, the express
charges beng paid by the government in the first
instance. Upon receipt of such notes they are
Immediately redeemed by treasurer's check
sent by mail according to the direction of the
consignor. Annually the total expense
Of the redemption OF national bank
notes is assessed upon all the banks
pro rata. according to the amount OF
each banks notes redeemed during the year,
thus reinbursing the government. Hence any
individual or any corporation can have national
bank notes redeemed without expense to them
at any time.
There is no need Of having unclean national
bank currency. and in fact very little complaint
exists in reference to national bank notes. The
amount of national bank notes outstanding for
the past year averaged about S120, DOC. 600 The
controller redeemed and destroyed last year
$40. III ,063 national bank notes.
In regard to United States notes green
backs) and silver certificates, which are re-
deemable only in coin and treasury notes. the
express charges must be borne by the parties
consigning the same for redemption. 1t is this
expense that keeps unfit money in circulation.
While the United States government fur
nishes 50 per cent of paper currency in circula-
ton it is by no meana as liberal in redeeming
its own money, unfit for circulation and public
use, as it requires the national banks to be.
This is wrong. II the government. is to sup
pi! INC people Win paper money IL should
make such money clean and free from con-
tagion and infection.
Postmasters in all money order Offices might
be authorized to receive and cancel by stamp
ing unfit money in limited amounts, and with
proper safeguards. and forward the same by reg
istered mail free postage. 1t would the con-
signor nothing, and tho government little or
nothing. Then this currency should be
redeemed by draft upon receipt and
verification. In chat way convenient
facility would be afforded to the
public to provide themselves with clean money
and the government would simply assume re-
sponsibility which properly attends the func-
tons Of issuing paper money.
Up to 1888 Congress made an appropriation
to defray the expense Of redeeming paper
money unfit for circulation. In some form that
responsibility should again be assumed.