Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-03-23
Many Millions in Paper Currency
Annually Destroyed.
WORK OF fHE REDEMPTION BUREAU
Frustrating Attempts to Cheat the
Government.
IDENTIFYING OLD
BILLS


The authorities of the Treasury Depart
ment destroyed last year 1899. 79S, $50 in pa
per currency withdrawn from circulation.
Since the department began to collect sta
tistics systematically In 1865 there has
been destroyed a total of 81, $50 SIS. 4S9 In
paper currency.
1t has been suggested that in the inter
est OF cleanliness end health the Treasury
Department should destroy every piece Of
paper money presented for redemption at
the treasury or any subtreasury. and issue
perfectly fresh, clean money in its place.
This Is the system Of the Bank Of Eng
land. No English note which, In the course
OF circulation works its way back to point
OF issue Is ever sent into the world again.
1t Is destroyed. II the holder of a Bank
Of England note. with a single crease In
1t presents 1t at the Bank Of England, he
receives fresh, crisp note in its place
A treasurer of the United States, writing
to the Secretary of the Treasury ten years
ago, said Of the slow work of the bureau
Of engraving and printing at that time:
1T seems puerile to allow so small a diff
Guilty as the printing OF a few thousand
sheets of paper to become any obstacle In
the discharge Of public business and an
annoyance to the people in their money
matters" II would seem just as puerile
to allow the printing Of a few thousand
sheets OF paper to interfere with the pub
lie health. Eminent specialists have tes-
titled that nothing Is better qualified to
spread disease germs than old paper cur
rency.
Shipping Old Currency.
The government not only reissues old
paper currency which is not ragged. but
discourages the public In the matter of
sending money in for redemption. Prior
to July 1, 1888, there was an annual appro-
priation for the transportation OF currency
to Washington for redemption: now, any
one who wants to have old and worn cur
rency exchanged for new must pay the
cost Of shipping it to Washington.
Notwithstanding the governments par
simony In this matter, the treasury pays
three-fourths Of the cost Of transporting
money for redemption. Something like
$4,000 year Is paid out by banks and
business houses to ship old and worn cur
cency to the treasury. But the govern
ment's expense Is three times as great,
because most Of those who handle money
keep it in circulation until in the course
OF business 1t passes into one of the sub
treasures. There the money is sorted and
all badly worn currency Is shipped to
Washington for redemption.
The casual destruction of notes, by the
way, Is remarkable source of income to
the government. 1t is one of a number
Of indirect sources which the government
has. 1t is estimated that fully SIS, 600 900
worth of treasury notes have been de-
stroyed while in circulation, and will never
be presented for redemption. On the other
hand the amount Of counterfeit money
which has been redeemed by the govern
ment is inconsiderable.
Treasury officials are not believers in the
germ theory. They say that all the seven
billions Of money redeemed at the treas
ury has passed through the hands of the
clerks of the redemption division, and they
have yet to learn Of one of these clerks
whose health has been affected by his occu-
patton.
q Asserting Proper Money.
In the regular course of each days busi-
ness a great deal OF paper money is re-
ceived at the Treasury Department. This
money is sorted and the torn and dirty
pieces are sent to the redemption division.
Every day a million dollars worth of
money is handled in this division. It is
carefully assorted according to denomina-
lions and issues and entered In the treas
ury records
Five years ago Treasurer Nebeker sug-
gested that the money redeemed be check
ed by number as well by issue and de-
nomination. That is. he wanted list of
the serial numbers of the notes printed and
the notes checked off from this list as fast
as they came In. One reason for proposing
this safeguard was the possibility of the
duplication OF the notes issued from the
bureau Of engraving by collision among
It's employees. Another was the possibility
VI the redemption OF COunIef1eltS-SOme-
thing that Is known to occur sometimes in
spite of the expertness of the Department.
clerks. But to check UP the notes by their
numbers would have required a decided in
crease In the appropriation for treasury
clerks and Congress declined to take the
matter I'D.
classifying the Notes.
The classification of notes for redemption
is first as United States notes, treasury
notes. silver certificates or national bank
notes: second. according to series (as, Sc
ries Of 1869. series Of 1880; finally, accord
ing to denomination. Thus separated. the
notes are made into bundles, each fasten-
ed with paper straps. one at each end
and one down the middle.
The straps are Endorsed to show the con-
tents Of the package.
There is a big knife in the REDEMPTION
ITS AN III,