The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-27
MAKING THE BONDS.
The New Issue viii Be a Duplicate of
That of Last Year.

The New Issue viii Be a Duplicate of
That of Last Year.
From the New York World.
The way in which United States
bonds are designed engraved and made
ready TO be turned over to the inves-
tor in return for his gold or Its equiva-
lent is one of the most interesting
parts of the workings of the treasury
department branch of the national
government. The coming bond issue
will not be what is technically known
as a new issue, but will be duplica-
ton of the issue of February. 1895.
The designer of the plates is we'll
known New York artist who enjoys
high reputation as magazine and
book illustrator This is Will II. Lacy,
and for the past year he has been the
star man of the corps of artists at
tached to the treasury department. In
addition to the work of drafting the
designs for the bonds he has designed
several schemes for currency.
After the announcement of bond
issue the secretary calls in the chief
of the department of engraving and
printing and tells him the denomina-
lions to be issued. These may be in
coupon bonds of $50, 800, $500 and
81, 900. The same denominations may
be issued in registered bonds, with the
addition of others of a higher face
value The additional ones are for
IS, 900, $4,000, $4,000 and $4,000. The
issues of the two latter denominations
have been very small.
After the chief has received his in
structions he turns the matter over to
the artist, who at once designs the
plate. It is an erroneous impression
that for every issue a new series of
| plates are engraved The artist may
use any one of number of vignette
| likeneSses of historic Americans, and
mortises 1t into the drawing.
| When completed ii is submitted to
the chief for his approval and then to
| the secretary of the treasury. If the
| design is all right 1t is turned over to
the engravers.
| This usually requires from a month
| to six weeks. The engraving is done
| on a thin sheet of soft steel of a
thickness of an eighth of an inch. By
a secret process the metal is hardened
| when finished, and a proof is taken,
| which is submitted to the chief of the
bureau. This proof then must be ap-
proved.
The plate then goes to the printer
| and the work of turning off the bonds
begins The bonds are printed on the
same kind of paper as that used fol
currency, and each impression is care
fully watched. If any imperfection
by the officials after being returned
from the press rooms. But for each
sheet of bond paper taken out there
must be returned a similar number OF
copies, either perfect or otherwise. AT
ter the work of printing is done the Sc
curities are counted and checked of
and are then made ready for delivery
to the purchaser. When their final des
tinartion Is determined upon an employs
of the department accompanied by al
escort, takes charge of the bonds anC
delivers them to the purchasers. In tn,
last issue, Logan Carlisle, son of tn,
secretary. had charge of the deliver
ance of the securities.
The difference between the two class
es of bonds-common and registered
Is great The former are like currency
payable to the bearer, and no record o
their transfer rs ever made. The inter
est coupons may be collected by am
one who presents them at q nationa
| bank or sJIb-treasury.
The registered bonds are safer h
case of a burglary. as they are abso
| lutely non-negotiable, except by tn
signature of the holder. as evidence
by the books Of the treasury depart
ment at Washington city. When regis
tered bonds are sold the name of IN
purchaser is placed in a book kept 70
the purpose. There are no interest cot
pons attached. but each quarter
I
for the accumulated interest, which
payable upon presentation TO any sui
treasury.
Should the holder desire to sell hi
registered bonds the transfer mus
take place before some official of tn
treasury department or an officer of
national bank. The fact of the sale
then forwarded TO Washington cit,
and the necessary alterations made /
the registered bond book.
Although the face design of a goN
eminent bond is less intricate and pui
cling than the designs used on currei
| cy, efforts TO counterfeit them haI
been rare. The noted forger, Brockwa
| was the author of the last bogus go'
| eminent bond issue that was detecte
II was the duplication of a coupe
| bond OF the issue OF 1861. the first of n
war loans. which matured IN 1881. T.
| denomination was 81 1000. The woI
was poorly executed. and its WORTHLESS
ness was soon detected 1t was for IN
| that Brockway served his longest ter
in the penitentiary.
I mill sell the STOCK nd good min