The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-09

on the bonds is per cent, but Uncle Sam
has sold them at such rate that he pays
in reality only g. 1t is believed here that
a per cent. bond could be Aoated.
Every one wants these bonds. The
banks cry for them, old maids sigh for
them, and the tirid capitalists are al
most ready to die Tor them. They feel
that their money L. safe and that this
CSC, 900, 900 in bonds is surer than safe de-
posits or stocking under the rafters.
WHAT A GOVERNMENT BOND 10.
Have you ever seen a government bond2
1t is only piece Of paper, but it is
often worth its weight in diamonds. The
bonds Of the present issue are In denomi-
nations Of $50, 800, 1000 and 10000
The bonds are Of the same size and the
difference is shown by the figures on their
faces. Four of these would make a
good size dinner napkin, and | would like
to have a set Of napkins made up Of these
SO, 900 bonds. Each napkin would be
worth $40, 900, and the twelve would make
nice snug little fortune of $3.50, 900 or
nearly half q million
The new bonds are Of two kinds. One
class is registered bonds and the other
coupon bonds. The coupon bonds are
payable to bearer, and to them are fas-
tened a number of detachable coupons
about the size Of an old i0-cent shinplas-
tor The interest is payable quarterly,
and every three months you clip off these
coupons and cash them at the treasury of
the United States or at the banks. The
danger connected with them is that any
one can use them, and if the holder of a
coupon bond loses 1T, the man who finds 1t
can turn it into money on the next pay
day. No Identification will be asked at
the bank by the man who presents it,
REGISTERED BOND.
Registered bonds are of a somewhat diff
ferent nature. They have no coupons and
are payable to the person whose name is
written on the bond. In the Office of the
register of the treasury at Washington
there is a record kept of the men who
hold these bonds, and about a wagon load
of ledgers and journals are devoted to this
purpose alone. AS soon as bond is sold
an account is opened with the person who
buys il between him and the government,
and in this is stated the amount he paid
for the bond, and the rate of interest
Every three months the clerks go through
the books and make out set Of accounts.
They notify the treasurer of the United
States to pay all the interest due TO the
persons who hold these bonds and this
money is forwarded to them in the shape
of treasury draft. AS soon as the bond
is redeemed the account is closed. If the
owner of a registered bond desires to
transfer it to another the transfer must
be Endorsed upon the back of the bond
before witnesses appointed by the gov
eminent and a record of this must be
made at the treasury department Only
the fewest cases are known where such
bonds have been stolen. One Of these
occurred a few years ago when the Man
haitian Savings Institution was burglar
lied by Jimmy Hope, and over 81 900, 900
OF these bonds was stolen. In this case
congress authorized duplicate bonds to be
issued to the Manhattan institution, and
they lost nothing.
ooUNTERFEITINo BONDS.
Can bonds be counterfeited}
Yes; and there have been many at
tempts of this kind. The only really sue
cessful one, however, was In connection
with Jay Cooke Il Co. These bankers
once bought 5000 worth Of coupon
bonds of the denomination known as
seven-thirties They were pronounced
counterfeits by the treasury department,
and although the bankers sued the gov
eminent they lost the case. The counter
felt was made with the aid of lead i'm
preston taken from the genuine plate In
the bureau of engravings and printing
at Washington by an unfaithful en-
ploye, which accounted for the wonder
full likeness Of the spurious article to the
genuine.
A s15,OO0,OOO BOND.
The biggest bond given out by the
treasury department is now in the regis
ter's ONCE of the treasury at Washing
ton. II has been redeemed and Cancelled
by the government. 1t is the only one of
its kind ever issued and it was engrossed
by hand. 1t represents the enormous
sum of SIS, 100000 and 1t was given out
when the Geneva award compelled Great
Britain 10 pay this country Sl5, 800, 900 on
what was known as the Alabama claims
The money was paid TO Hamilton Fish,
then secretary Of state. Congress had
made no provision for the disbursement
OF this sum, and pending legislation upon
the subject, Secretary Fish invested the
money In government 5 per cents, receiv-
ing one bond Of the face value Of his in
vestment.
The largest issue OF bonds ever made by
this government at one time was in 1877,
when a total Of SAL ,000,O 900 was issued.
OF course, the public debt was not in