St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-29
REDUCED TO pULp.
WHAT IS ZONE WITH MONEY
AFTER 1T HAS BEEN CON-
DENIED.
PROCESS OF MGCERATION.
GREENDtCEs FIRST CUT INTO
HALVES LENGTEIWISE BY
MACHINERYt
HONEY DESTROYED DAILY.
about Three Million Dollars =,
Gay The Rate at Which 1t
is Reduced.

LAY ts1c az w A&ch
is Reduced.
Special 10 the Globe
WASHINGTON, July 81.
YOUNG MAN-Make money selling
macerated greenbacks from L. S.
Treas. Sample packs Of LOCO (made
OF 81 to 500 0iils), Ice silver; 5000,
25c. Exchange & Mart, Washington
D. c.
This is an exact coy y Of an adver-
tisement which has recently been
published in some newspapers OF
prominence, although it does seem
that any careful newspaper manager
ought to know that the advertise
ment is a bold, daring, glazing swim
die, and a Misrepresentation of facts.
Any good business man ought to
know that there can be no packs OF
$1,000 or $4,000, or of any other par
ticular sum Of money made from
nacerated greenbacks. Any young
man who would invest his money in
the scheme would deserve to lose it,
have been unable to find any such
firm as Exchange & Mart in this
city.
IN order to warn, protect and at
the same time interest the public, it
will probably be we'll to describe
the processes and details Of the
methods pursued by the government
at Washington, under authority of
law, in bringing about the complete
destruction of all paper money,
bonds, internal revenue stamps and
postage stamps after those financial
issuances of the government have
reached the period of condemnation.
The entire volume of paper cur
rency, except state bank notes, is
manufactured at the bureau Of en-
craving and printing, which is stu
ated a half-mile from the treasury
building, but is under the control of
the secretary of the treasury. Here
are engraved and printed all green
Sack notes, treasury notes, gold and
silver certificates, internal revenue
stamps and postage stamps, and the
bonds issued by the government to
Feplenish the supply Of gold for the
redemption Of paper money. In the
course Of manufacture it sometimes
happens that sheets of notes or of
stamps are mutilated or otherwise
spoiled so that they are unfit to be
put into circulation. Every sheet is
subjected to the inspection of eX-
perts and
MUST BE PERFECT.
In every detail, else it will be con-
demned and turned over to COM
mittee authorized by law to destroy
it. This committee is appointed by
the secretary and treasurer, and
consists Of from four to six persons,
according to the character of the Sc
curities to be destroyed, and is
known as the committee for destruc-
ton Of United States securities. One
member of the committee is detailed
from the division OF loans and cur
rency to represent the secretary of
the treasury; another from the Of
flee of the treasurer, the third from
the Office of the register, and the
fourth is specially appointed by the
secretary of the treasury to repre-
sent the people at large; and the
members of this committee are wit
nesses of the total destruction of
the condemned securities and
stamps. Whenever internal revenue
stamps are to be destroyed a rep
resentativc of the commissioner of
internal revenue is added to the COM
mittee, and in like manner the post
master general furnishes a witness
on the part Of his department when
postage stamps are to be destroyed
The comptroller of the currency is
represented when national bank
notes or statistical matter" is de-
stroyed.
Besides the defective sheets of
notes and stamps destroyed, the
committee supervises the dcstruc-
ton of an enormous amount of worn
and mutilated paper money which
is continually pouring into the treas
ury, through the medium of the
banks, for redemption. They also
witness and certify to the destruc-
ton Of the notes of banks which
have failed, or which desire to ex-
change old notes for now ones.
All of this paper, OF whatever de-
scriDtion. has money value.
amounting in the aggregate to mil
lions of dollars, and the utmost care
Is taken to prevent the loss Of any
scrap of it by dishonesty of other
wise. The treasury officials by ex-
perience have developed a
SYSTEM OF CHECKS
and precautions which seems to be a
perfect guard against any possible
loss. National bank notes sent in
for redemption pass through the
hands OF experts who can tell at a
glance whether a note is genuine
Dr. spurious. If a counterfeit be dis
covered the word counterfeit" in
large letters is stamped across its
face. and the note may then be
handed over to the secret service
division or returned to the bank
which presented it for redemption.
In either case q record is made of
The number, the denomination and
the paculiarities Of the counterfeit.
a record is also made OF bank notes
presented for redemption which sue
cessfully pass inspection. and new
notes arc issued in lieu Of them.
All notes that have been redeemed.
Including national bank notes. gold
and silver certificates and green
backs which have been "mu-choo-
!atod, IS Jerry Simpson would saw.
d. III any way untitled for circula-
non, go into the hands Of clerks
whose business is 70 assert them ac-
cordin& 10 denominations and the
fharacter of the issues. The de-
nominations, ranging from one dol
ia" to one thousand dollars. are put
up i'll packages Of one hundred
notes. No notes Of the dcnomina-