The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-07-26
MEN WAR BONDS ARE OUT.
FIRST SHIPMENT MADE BY THE
TREASURY DEPARTMENT.
Thousand Of $500 Each-Enor-
nous Labor Inyolved-Express

WASHINGTON. July 2S.-The following
statement concerning the new bend issue
was made a. the treasury department to-
day:
The first shipment u the new war bonds
was made today. They consisted OF one
thousands bonds Of sos each and one thou
sasd bonds Of s5e) each. The public mind
Is poorly prepared 70 comprehend the enor-
nous labor ard nutitud.nous delays con-
nected with this great popular loan In
the first place. after the rejection and re-
turn O, thousands Of subscriptions 10 which
no allotment could be made. there remain
about 3ln.o.o persons 70 whom bonds viii
be aliottev. and forwarded in due course by
express IL is not a question only Of &1-GS
names The nam. including state. county.
town and street number OF each subscriber
must BE- transcribed. and rewritten IN va
rious ways at leas. ten times This =
equivalent 70 entering once, thus fully ex-
tended. 3t.t.fso or more names.
The mere clerical work. however. IS but
part OK the problem, the collection of
checks and drafts received as payment for
bonds and computation Of interest. pay
rnent Of checks Ia settlement for same. the
engraving and printing OF ten kinds - or
denominations OF bonds. the accurate dis
position % these n envelopes properly adj
dressed-ail these are part OF the prob
lem that must be solved without error or
omission. One simple fact viii impress the
mind with the magnitude Of the operation.
Each envelope must be sealed with three
seals which means mat 900 go seals in
wax must be imprinted on the outgoing
bonds
Another important feature = the limita
ton in The ability Of the express agency
10 receive, forward and deliver the bonds
after they are committed 70 their care for
this purpose This limitation is estimated
by the express company az 500 items per
day Possibly II th.s limitation OF ability
does nor exist. Il IS a naturally prudent
limit since on an average OF only 90 IN eacn
envelope the express company would re-
ce.ye. as agents s., j0a,"o Of the securities
per day and If IL required an average OF
three days 10 make deliveries there would
be a continuous trust of Si,y1.si-as large
an amount, perhaps. as the responsibility
Of the EXPRESS company would Justify.
TIE. facts thus cited show that, while
subscribers IN the sums Of Aro or less
NAV rest secure in the certainty that the
bonds will come 10 them all In due time,
they must patiently wait the operation OF
the government machinery
II is 10 be understood that deliveries on
the subscriptions Of 500 and less. for which
the money mas been already received. will
be made before the larger subscriptions are
attended 10. OF these small subscriptions
there are 25o.Gep and Il IS estimated that
forty days VIII be required for their de-
livery
From this II will appear that subscribers
IA amounts larger than 500 will not be
.y.n 10 receive their bonds until after Sep
temt,er l. From that date on. the bonds
viii be put in the hands Of the larger sub
Scribers quite rapidly. since numerically
Speaking they aggregate less than one third
Of The number OF smai, subscribers.
In tho meantime the larger subscribers
will he officially rot!hed by the treasury
a,uartrneut when and how payments in
addition TO the per cent. deposit viii be
required. and before RENTING funds they
are required to ait such notice. Much
confusion Will thereby be avoided.