The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-15

Many interesting facts may be dug out
of the dry statistical pages Of Government
reports. if one will only take the trouble
to dig. It is rather interesting 10 note
for instance. that during the fiscal year
ended June 80, 1899. the Government re-
deemed 1920 bits Of paper that once oiu
service as fractional currency in the cir
culation Of the country. The recent ie-
port Of Register Judson W. Lyons oil the
Treasury. furnishes that information ana
more that follows:
A good many people will remember the
little pieces Of paper money used during
the civil war period, and for more than
ten wears afterward, in place Of fractional
silver coin. for there was no coin, even
the little copper cents being so scarce
that merchants and corporations took TO
issuing stamped tokens. with various
legends. the most familiar being, Not
One Cent" The fractional paper currency
was usually called shinplasters, ana IL
was responsible for no end Of profanity
II was the custom to carry Wad OF the
stuff in the vest pocket, and in the sum
mer time. when white laundered vests
we're more in fashion than in recent years.
il was the fate of many a wad OF shin
plasters" to be done up with the vest ana
the owner found only mass of dry pulp
in the pocket when his vest came home
from the wash.
It was also the fate of many wad to
be snatched by the wind from careless
fingers and be scattered broadcast While
the perplexed owner stood in a quandary,
not knowing which way TO start upon the
chase for his fleeing cash.
But fractional currency had one recon-
mendation; it was the handiest thing LOT
sending through the mails Any frac-
tional sum from three cents up could be
sent in a letter with little risk OF It's
presence being suspected by any dishonest
postal employe. II gave great incentive
to the neil order business OF retail houses
More than $3.50 900 coo Of fractional cur
repcv has been in circulation and re1eeme1
at one time or another. but about S12.OOO,-
coo is still unredeemed. one half of which
il is estimated has been destroyed. LAST
year. however, the Government redeemed
Is. 30 pieces, the aggregate value OF Whlch
was 81 34g4S There were POI three-cent
nieces 600 fve-cent pieces 64S6 ten-cent
pieces. 2S6 ffteen-cen pieces, 4.S2S t"eh-
ty-fve-cent pieces, and 1880 ffty-cent
pieces. There were specimens Of every de-
nomination.
If has been nearly twenty-five years
since the Government issued any fractional
naper currency: some of the notes re-
deemed last year had been outstanding
probably thirty to thirty-five years. Inc
individual history OF each of these bits OF
money, from the time Of issue to the day
of redemption, would be more readable
than fiction.
But the Treasury department also le-
deemed other antique specimens Of money.
OF the old demand notes, not one OF which
has been issued in nearly forty years, II e.
deemed twenty fiye-dollar bills, five ten
dollar bills, a total of $50. 1t also ie-
deemed one ten-dollar one-year Treasury
note Of 1863. and one twenty-dollar note
both Of which have been outstanding since
1863 ssfstr @t"H iFf
How many people there are who never
saw a compound interest motel Babies
born when the last of these notes was is
sued are or might be men Of family now
The Government redeemed twenty-sM OF
these notes-nine $40 each eleven $40
each five $50 each. a total OF $3.50. These
notes once bore interest at per cent
compounded annually. but for thirty-hve
years they have not carried interest. Had
interest run until now those notes would
be worth 81 O4O, but the owners kept them
hidden away and they have yielded moth
ing in all the thirty-fVe years.
No time can be said to limit the life OF
a note. Il may be buried for century,
but eventually somebody unearths il and
its existence is revealed. Continental
notes, for which there is no redemption,
are vet to be found outside Of collections,
and notes Of banks which failed fifty years
ago are in repose in the pocketbooks or
strong boxes OF Oldest citizens. In the
year 1000 specimens Of the currency issued
by the late Confederacy will be found in
out of the-way hooks, and new evidence
Of the tenacity of life of paper money will
be found and commented upon.