The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-26
INVOLVING AN ENORMOUS AMOUNT
OF CLERICAL LABOR.
About s0O,OOO Subscribers to Whom
the Bonds Will De Sent by Express
Effect ON Free-Silver Doctrine.

e WASHINGTON, July 25.-The following
statement concerning the new bond issue
was made at the Treasury Department to-
day:
The first shipments of the new war
bonds were made to-day. They consisted
of 1000 bonds of $40 each, and 1000 bonds
of $500 each. The public mind is poorly
prepared to comprehend the enormous labor
and multitudinous details connected with
this great popular loan: In the first place,
after the rejection and return of thousands
of subscriptions to which no allotment could
be made there remain about 100000 persons
to whom bonds will be allotted and for
warded in due course by express. 1t is not
q question only of 100000 names. The name,
including State, county, town and street
number Of each subscriber, must be trans
cribed and rewritten in various ways at
least ten times. This is equivalent to en-
tering once. thus fully extended three mil
lion or more names. This mere clerical work
is, however, but a part of the problem;
the collection of checks and drafts
ceived as payment for bonds, the computa-
ton of interest, preparation of checks in
settlement for same, the engraving and
printing of ten kinds or denominations of
bonds. the accurate disposition of these in
envelopes properly Addressed all these are
part of the problem that must be solved
without error or omission. One simple fact
will impress the mind with the magnitude
of the operation. Each envelope must be
sealed with three seals, which means that
100000 seals in wax must be imprinted to
outgoing bonds.
Another important feature is the limita-
ton in the ability of the express agency
n
after they are committed to their care for
this purpose. THIS limitation is estimated
by the express company at 5000 items per
Gay. Possibly If this limitation of ability
did not exist, IT is naturally prudent limit,
since on an average of only $500 in each
envelope the express company would receive
as fiddclafy agents, 81 100000 of the securi
ties per day. and if it required an average of
three days to make deliveries. there would
be a continuous trust of $7,5G0,OOO as large
an amount perhaps as the responsibility
of the express company would justify. The
facts thus cited go to show that. while sub
scribefs in the sums of 1900 or less may
rest secure in the certainty that the bonds
will come to them all in due time, they
must patiently wait the operation of the
government machinery. 1t is understood
and less, for which the money has been all
received. will be made before the larger
subscriptions are attended to. OF these
small subscriptions there are 100000 in num-
Der and 1t is estimated that forty days will
be required for their delivery From this
1t will appear that subscribers in amounts
larger than $500 will not begin to receive
their bonds until after Sept. l. From that
date on the bonds will he put in the hands
of the larger subscribers quite rapidly
since, numerically speaking. they aggregate
less than one-third of the number of small
subscribers. In the meantime the later sub
scribcrs will be officially notified by the
Treasury Department when and how pay
ments in addition to the per cent de-
post Will be required. and before renting
funds they are requested to await such
notice. Much confusion N.ll thereby be
avoided"