The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-04-11
GROUND INTO PULP.
Many Millions in Paper Currency
Annually DESTROYED

4 Annually Destroyed.
From the Washington Evening Star.
| The authorities of the Treasury De-
partment destroyed last year 1898, 79S, $50 in
paper currency withdrawn from circula-
ton. Since the department. began to COL
lect statistics systematically in 1866 there
] has been destroyed a total of 81, $50, 6SS 4S9
! in paper currency.
1t has been suggested that in the in
/ terest Of cleanliness and health the Treas
/ ury Department should destroy every
| piece of paper money presented for re-
demption at the treasury or any sub
| treasury and issue perfectly fresh clean
money in its place. This is the system of
| the Bank Of England No English note
which, in the course of circulation works
| It's 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 it presents it at
the Bank of England. he receives a fresh,
crisp note in its place
"A treasurer of the United States, writ
ing 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
difficulty as the printing of a few thou
sahd sheets of paper to become any OBJ
stacle in the discharge of public bust
ness and an annoyance to the people in
their money Matters 1t would seem lust
as puerile to allow the printing of few
thousand sheets of paper TO interfere with
the public health. Eminent SPECIALISTS
nave testified that nothing is better
qualified to spread disease germs than old
paper currency.
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 l, 1888, there was an annual ap-
| preparation for the transportation Of cur
rency to Washington for redepmtion;
now, any one who wants to have old and
worn currency exchanged for new must
pay the cost of shipping it to Washing
ton.
Notwithstanding the governments par
simony in this matter the treasury pays
| three-fourths of the cost of transporting
money for redemption. Something like
$1,000 year is paid out by banks and
/ business houses to ship old and worn cur
rency 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 it passes into one of the sub
treasures There the money is sorted and
all badly worn currency is shipped to
Washir gton for redemption
The casual destruction of notes. by the
way, is a remarkable source of income to
the government. 1t is one of a number
of indiI ect sources which the government
has. 1t is estimated that fully SIS, 000 900
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
government is inconsiderable.
Treasury officials are not believers in
tine germ theory. They say that all the
| seven billions of money redeemed at the
treasury 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 af-
! fected by his occupation.
Asserting Proper Money.
| In the regular course of each days bus
mess 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 divis.
ion. Every day million dollars worth of
money is handled in this division. 1t is
! carefully assorted according to denomi-
nations and issues and entered in the
/ treasury records.
Five years ago Treasurer Nebeker sug-
/ gested that the money redeemed be check
! ed by number as we'll as by issue and de-
nomination. That is, he wanted a list of
/ the serial numbers of the notes printed
1 and the notes checked off from this list
al fast as they came in. One reason for
/ proposing this safeguard was the posi-
| blity of the duplication of the notes is
| sued from the bureau of engraving by col
/ fusion among its employees. Another was
the possibility of the redemption of coun-
/ terfeits-something that is known to oc-
! cur sometimes in spite of the EXPERIENCES
/ Of the departments clerks. But to check
/ up the notes by their numbers would have
/ required a decided increase in the appro-
4 lria ton for treasury clerks and Congress
declined TO take the matter up.
Classifying the Notes.
The classification of notes for redemp-
tion is first United States notes, treas
/ ury notes, silver certificates or national
/ bank notes; second, according to series
i (as, series Of 1859, series of 1850; finally,
/ according to denomination. Thus separat-
/ Cd, the notes are made into bundles, each
/ fastened with paper straps, one at each
end and one down the middle.
The straps are indorsed to show thee
contents Of the package.
There Is a big knife in the redemption
division. 1t is hinged to an iron frame
and works in groove. The bundles OF
money are put under this knife and a
messenger. by electric power, sends the
blade through them. dividing each into
two packages. one Of these contains the
upper halves Of the notes; the other tho
lower halves. one goes to the register z
office and one TO the office OF the treas
urer In each of these offices clerks check
up the contents OF the packages. II the
contents do not agree with the label
the other package of halves Is looked
up for comparison. n counterfeit Is
found it is traced 40 the clerk who ac-
cepted IL and he has 10 make Il good.
Reduced to Puff.
When the money has been checked M
in the offices OF the treasurer and the reg
lister OF The treasury Il H. taken 10 the
maccrator in charge or a committee, This
committee is composed Of one clerk from
the secfctarys Office one clerk from tho
treasurer ONCE one clerk from the reg
lsters onicc and one outsider The fret
three have koys. Each Key me- a diner.
rnl lock ou tho macsfafor. This macera-
tor is steel cylinder, boz which BOT
nf sfos knifoF Del POI AIDE 90 rcYolYo. The
fhr0D crFhs ou.n tnt macefaf0r tnf
pas kuFns of muulalrd money arc PLACED
nthiH one cylinder is closed ana 400