The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-13
THE FRACTIONAL CURRENCY.
Various Issues by the Government
During and After the War.

washington star.
The first issue of the fractional postal
currency was made under an act authOriz-
ing the same. passed July H. 1862. and 800,
2l5, 635 was issued in denominations of s. 10
20 and 80 cents. The second issue and all
issues thereafter were made under an act
passed March 3, 1863. The second issue COM
priSed the same denominations as the first
and the amount issued was $40. 1914 1886. In
the third issue a new denomination wss
introduced-the 3-cent note-and the amount
issued was $50 $50 In this issue there
were also two 50-cent notes, a rare oc-
currence in the same series. One has pic
ture of Justice, and the other a portrait
of Spinner, the latter being a very rare
specimen of the currency. The Scent note
and this 50-cent note form two of the hard
est" specimens-in the vernacular of the
coin and stamp collector-to obtain.
In the fourth issue made under act of
June 30 1864, in conjunction with the other
acts, there were three SERIES the first carry
ing TO- 49, % and 50-cent notes and the
other two series additional 50-cent notes
The 15-cent note made it's appearance for
the first time in this issue. The amount
was $176,567 OBJ The last series carried hut
three denominations of notes-10, IS and 80
cents-and amounted to S62 66l 800 The
rency issued was 1868. 724, 07945 There were
issued of denominations: 8 cents 1901 923 90:
cents. 1854, So 10 cents, $50 12S 456 90; II
50 cents. $135. 891 ,93050.
The whole amount outstanding June 80
1896 the close Of the fiscal year, was, ac-
cordlng 10 the treasurer's report SIS 267.-
122.4 and the amount outstanding to-day
less the redeemed notes already turned in
this fiscal year. is $15. 265 179 A. OF this
amount it is estimated by the actuary Of the
Treasury Department that $S375,934 has
become worn out or totally destroyed and
will consequently be a clear gain to the
government. leaving as the actual amount
outstanding Sc, S91 1891
The notes Of the first three issues were
not very artistic and were too small. with
the exception of the two 50-cent notes in
the third issue The last two issues were
really beautiful specimens of the art of
banknote printing, the notes of the fifth
resembling the familiar treasury note of to-
day in miniature.
The first issue was rather crude in work
manship The prevailing colors were brown
and green. The heads of Washington and
jefferson. none too well executed. adorned
them. WashingtOns portrait adorned the
notes of the second issue. and was notice.
able on account of the bright gilt circle
which surrounded 1t.
the colors Of the notes varied-brown,
green, red and purple The portraits in the
third issue. the notes of which were uni
formly light with green backs. were those
of Washington. Clark, Fessenden. Justice
and Spinner. The fourth issue gave the
first evidence of any artistic ability the
tens and hfteens being adorned with q
handsome vigrette of the Goddess of Liber-
ty The other notes had portraits of Wash
ington. Lincoln. Stanton and Dexter. This
was the first issue in which the Treasury
Department used the familiar seal that Is
on the treasury note of to-day The fifth
issue was very artistically gotten up and
had the portraits OF Meredith, Crawford