Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1896-03-25
UNCLE SANS BONDS.
HOW THE VALUABLE PIECES OF PA
PER ARE MADE.

signer-yarious Steps In the Processes
of Turning Them Out.
The way in which United States
bonds are designed, engraved and made
ready to be turned over to the investor
in return for his gold coin or its equiva-
lent is one of the most interesting parts
of the workings of the treasury depart
ment branch of the national government.
The coming bond issue will not be what
Is technically known as new issue,
but will be duplication of the issue of
February, 1895.
The designer Of the plates is a we'll
known New York artist who enjoys high
reputation as magazine and book illus
traitor. This is Mr.. Will H. Low, and
Tor the past year he has been the star
man Of the corps Of artists attached to
the treasury department. In addition to
the work of drafting the design for the
bonds he has designed several schemes
for currency.
After the announcement of bond is
sue the secretary calls in the chief of the
department of engraving and printing
and tells him the denominations to be
issued. These may be in coupon bonds
of $50, 500, $500 and $1,000. The
same denominations may be issued in
registered bonds, with the addition of
others of a higher face value. The ad-
ditional ones are for 5000, $40, 900,
$40, 900 and $50, 900. 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.
1t is an erroneous impression that for
every issue new series of plates is en-
graved. The artist may use any one of
. number of vignette likenesses Of his
toric Americans, and he mortises it into
the drawing.
When completed, it is submitted to
the chief for his approval and then to
the secretary of the treasury. If the de-
sign is all right, it is turned over to the
engravers.
This usually requires from 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 proof is taken. which is submit
ted to the chief of the bureau. This
proof then must be approved.
The plate then goes to the printer and
the work Of turning off the bonds be-
gins. The bonds are printed ON the same
kind Of paper as that used for currency
and each impression is carefully watch
ed. If any imperfection renders copy
worthless, it is destroyed by the officials,
after being returned from the press
rooms. But for each sheet of bond paper
taken out there must be returned a SINH
lar number of copies, either perfect or
otherwise. After the work OF printing
is done the securities are counted and
checked off and are then made ready for
delivery to the purchaser, When their
| final destination is determined upon, an
employee Of the department, accompa
MED by an escort, takes charge Of the
bonds and delivers them to the pur-
chasers. In the last issue Mr.. Logan
Carlisle, son of the secretary, had charge
Of the deliverance of the securities.
The difference between the two classes
of bonds-coupon and registered-is
great. The former are like currency.
payable to the bearer, and no record of
their transfer is ever made The interest
coupons may be collected by any one
who presents them at national bank
or subtreasury.
The registered bonds are safer in case
Of a burglary, as they are absolutely
nonnegotiable except by the signature
of the holder as evidenced by the books
of the treasury department at Washing
ton. When registered bonds are sold, the
name Of the purchaser is placed in a
book kept for the purpose. There are no
interest coupons attached, but each quar-
ter check is mailed from Washington
for the accumulated interest, which is
payable at any subtreasury.
Should the holder desire to sell his
registered bonds, the transfer must take
place before some official of the treasury
department or all officer Of national
bank. The fact of the sale is then for
warded to Washington and the necessary
alterations made in the registered bond
book
Although the face design Of govern
ment bond is less intricate and puzzling
than the designs used on currency, eff
forts to counterfeit them have been rare.
The noted forger, Brockway, was the
author Of the last bogus government
bond issue that was detected. 1t was a
duplication Of coupon bond of the is
sue of 1861, the first of the war loans,
which matured in 1881. The denomina-
| t.ion was 81 900. The work was poorly
executed, and its worthlessness was soon
detected. 1t was for this that Brockway
served his longest term in the peniten-
| tiary. New York World.