The free press. (Poplarville, Miss.) 1890-19??, 1894-04-12
RARE BITS0F PAPER.
Interesting Things About Govern
ment Bonds.
One Represents the Enormous
Sum OF $15,5oo,ooo.

lhefc are iots Oh interesting tnlnRs
about these valuable bits of paper
Uncle Sam issues, says Frank G. Car
penter in an article ON government
bonds in the Chicago Herald. If any
reader of this paper could have the
biggest bond given out by the treasury
department he would ! rich beyond
the dreams of avarice. This bond is
now in the registers Office of the treas
deemed and Cancelled by the govern
ment. 1t is the only one of its kind
ever issued, and it was engrossed by
hand. 1t represents the enormous
sum of $15, 500, 900, and it was given
out. When the Geneva award com
PEELED Great Britain to pay this coun-
try $15, 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 pro-
vision for the disbursement of this sum,
and, pending legislation upon the sub
ject, Secretary Fish invested the money
in government five per cents, receiv-
ing one bond of the face value of his
investment.
The oldest bond now extant is also
in the possession of the treasury. 1t
is faded document about the size of
$5 bill, dated February 6, 1777, by
which the government acknowledges
the receipt OF $500 from John Bon
field, which it agrees to repay on Feb
ruary 6, 1850, with four per cent. in
terest. A cancellation mark on the
face shows that Uncle Sam redeemed
his promise to Mr.. Bonfeld.
The largest denominations of bonds
now outstanding are those of $50, 900.
The fortunate possessor of one of these
draws 50, 500 interest every year and
his original investment has increased
in value about $1,000. This denomi-
nation of bond is held by trust COM
panies and millionaires. There are n
great many bonds outstanding of the
denomination of $4,000 The hold
ers of these draw 800 interest every
three months upon each bond.
The largest issue of bonds ever made
by this government at one time was
in 1877, when total of $741, 900, 900
was issued. OF course the public debt
was not increased to that extent, as q
portion of the bonds redeemed others
outstanding at the time. They had
fallen due and Uncle Sam was not pre-
pared to meet the obligation with
ready cash, SO he did what you would
try to do if your note in bank should
fall due and you had no money to take
it up-you would give another note in
its place. This was very popular
loan, drawing four per cent interest,
and was negotiated without trouble.
Uncle Sam has, however, had his
money troubles in times past. His
credit was once quite low, and just
before and during the war the money
lenders were not SO greedy for the
government cribs. The first bonds
that were sent out were sold with some
difficulty, and the financial skies
looked dark. Many of the banks had
little faith in the future of the gov
ernment and the treasury had to call
upon bankers and capitalists to help
them in placing their bonds. 1t was
the faith which jay Cooke had in the
government that made his great for
tune. jay Cooke & Co., at the be-
ginning of the war, did "A great deal
for the United States treasury. The
firm possessed the confidence of Salmon
P. Chase, who was then secretary of
the treasury, and they made great
deal of money by taking the bonds
from the government in big blocks
and dealing them out in smaller lots
ko