Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-06-26
BUT LITTLE NOW OUT
Most of the Fractional Currency Has
Been Redeemed.
some TURNS UP EVERY YEAR
A Complete Collection Has Con-
siderable Value.
TIL RIOUS SUES

ship or settlement out of touch with the
times, stepped into one of the big stores
down town the other day and made some
trif1ng purchases. When he came to pay
Tor them he pulled out curious-looking
pocket book, which appeared to be nothing
more than two strong cards apparently
bound together at the long edge, opened it
from one size, disclosing some notes Sc
cureiy held under two bands of tape, and
then, shutting 1t again, opened it from the
other side and showed the notes free. He
celected one-a note about five inches long
ana little more than couple of inches
Wide-and rendered it to the clerk who had
carried out his wishes and who had taken
IN the old pocket book and the rather
Queer looking money with a hasty glance
That is not good! 1t is confederate
money! exclaimed the young lady.
NO, mum! That's good, honest money"
But it isn't the kind we use, and | can
not take it,
moment later light dawned upon the
sni. She called another employee of the
store, and as he happened to be of more
mature years and distinctly Remembered
the time when the old fra ctional paner Cur
rency was In vogue he quickly saw the old
mans position. Whether he took the money
ana paid for the goods out of his own
pocket i1' or whether the firm received the old
tiIiie notes Is not known, but the old man
got his purchases. Before he left, however
ne was advised to go to the treasury and
get the remainder of his money redeemed
~ coIIs Oh the day, so as to avoid further
MISUNDERSTANDING and disagreements.
Only n Few Millions,
There is more of this fractional currency
hoatlns around at this late day than one
would imagine at first thought. OF course
there Is very little that finds its way into
puolie channels as medium of trade, but
considerable amount is redeemed at the
treasury OF the United States each year.
ana the amount has increased very per-
ceptlply since the set-in Of the hard times
and the business depression everywhere
IN lew years. however, the amount out
slahdlng VIII dwindle to few thousand
collars. and the notes representing this
sum will. in all probability never be turn
ed In, but will be held as heirlooms, SOU
venirs and valuable curiosities the
amount outstanding at this time is only
a few millions of dollars
There are many persons who remember
TINS fractional or postal currency very
vlVldly. 1t was not SO long ago that it
the memory of it is the thought Of the
countless advertising schemes that were
based upon suitable pocket book or car
rier for this currency. And there are any
strongest terms that the period when the
country was flooded with this fractional
currency and the same money of larger
denominations was the most prosperous in
their recollection.
The first issue of the fractional postal
currency was made under an act author
izlng the same passed July H. 1862, and
$Zo,2l5,655 was Issued in denomin atoms of
nVe, ten, twenty-five and fifty cents The
second issue and all issues thereafter were
made under an act passed March 3, 1863.
ne second issue comprised the same de-
nominations as the first and the amount is
sued was $23, l64, .65. In the third issue
a Few denomination was introduced-the
three-cent note-and the amount issued
was $S6, 115 O2S.SO. In this issue there were
also two fifty-cent notes, a rare occurrence
Justice and the other a portrait of Spjn-
ner, the latter being a very rare specimen
of the currency. The three-cent note and
TINS hfty-cent note form two of the "hard-
est specimens-in the vernacular of the
coin and stamp collector-to obtain.
Various Issues.
In the fourth issue, made under act OF
June &c. 1864, in conjunction with the
other acts, there were three series. the
first carrying ten, fifteen, twenty-five ana
ffty-cent noes and the other two series
additional fifty-cent notes. The fifteen
cent note made it's appearance for the firsf
time in this issue. The amount was s176
66I, 032 The last series carried but three
denominations of notes, ten, TWENTY-FIVE
ana hfty cents, and amounted to $62, 66l,-
40. The whole amount of the postal frac-
tional currency issued was 1868, 724. O7y. A.
There were issued of denominations
cents, 1901 80; cents, 1864, 717s5; 10
cents, $S2, IDS, 456 50; Is cents, 1906 56S 40:
Is cents. $139, 031, 4S2, and 80 cents, Sl35,.
S91 1908 ~'
The whole amount outstanding June 30.
1876 the close of the fiscal year, was. ac-
cording to the treasurers report, 1852
l2247, and the amount outstanding today.
less the redeemed notes already turned in
this fiscal year, is $15, 265, 17947. OF this
amount it is estimated by the actuary of
the treasury Department that 1886 034
has become worn out or totally destroyed,
and will consequently be clear gain to
the government, leaving as the actual
amount outstanding $G,S01, 1884,
1t is interesting to note the amounts re-
deemed, each year since 1892, in coins of
the present day that are available for
everyday business and other obligations
In the year ending June 30. 1893, s., sos was
redeemed; In '94, .$3,367.20; in o. $3O1993;
in '96, $2.933.35 and up to the present day
in the fiscal year of '96-7, 81 ,943 This last
figure shows a falling Off in the redemp-
tions. and this may be looked upon as an
indication OF the loosening of the money
market and the lessening of the tension
upon the pocket book.
Artistic In Appearance.
The notes Of the first three issues were
not very artistic, and were too small. with
the exception of the two fifty-cent notes in
the third issue. The last two issues were
really beautiful specimens Of the art of
bank note printing, the notes of the fifth
resembling the familiar treasury note Of
today in miniature.
The first issue was rather crude in work.
manship The prevailing colors were brown
and green, while the heads Of Washington
and Jefferson, none too well executed
adorned them. Washington's portrait
adorned the notes of the second issue, and
was noticeable on account of the bright
gilt circle which surrounded it.
The colors Of the notes varied-brown,
green. red and purple. The portraits in
the third issue. the notes of which were
uniformly light, with green backs, were
those of Washington, Clark, Fessenden.
Justice and Spinner. The fourth issue
gave the first evidence of any artistic abil-
ity, the tens and fifteens being adorned
with handsome vignette of the Goddess Of
Liberty. The other notes had portraits Of
Washington, Lincoln. Stanton and Dexter.
This was the first issue In which the Treas
ury Department used the familiar seal that
is on the treasury note of today. The fifth
issce was very artistically gotten up end
had the portraits OF Meredith, Crawford
and Walker. The seals stamped ON these