The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-04-19
PILES OF REDEEMED BONDS
The Accumulation Of Billions of
Dollars of Securities.
Need for More Space Than the
old File Room nj the Treasury De
partment Provides Interesting
Obligations Tint Have Been Met.

Old File Room nj the Treasury De
Partment Provides - Interesting
Obligations Tint Have Been Met.
Considerable inconvenience is being
experienced by reason of the crowded
conditions existing in the file room of the
Redemption Division of the Treasury De
Partmeut. Redeemed bonds and notes Of
one kind or another are slowed away
here in the aggregate more than the
money wealth of the world It is one Of
those places used by the Government
about which very little is known ~ the
outside world Still the file room con-
tains some of the most interesting his
torical documents in the possession of the
Government.
This division. under the jurisdiction OF
the Register of the Treasury. Judson W
Lyons, aud adjoining his offices, occupies
but two rooms. the largest of which is
used by the clerical force of that branch.
while the other is the storage room for
redeemed Government bonds, coupons,
and currency In this smaller room there
are put away in orderly fashion, bonds.
coupons and other securities which have
| done their duty. There are there bonds
and notes of all denominations, ages, and
manner of execution. They ara all
labeled and filed away on shelves reach
ing the ceiling of the granite-vaulted
chamber. Each bundle is tied with a tag
I indicating the denomination of its con
tents and its aggregate value The clerks
in this division keep track of every bond.
etc, issued by the Treasury Department,
and it is comparatively an easy matter
for them to find out how the wealthy
men of this or any other country invest
in United States securities.
For instance. William H Vanderbilt
held Government bonds from which he
| derived an income of 81, go. 900 year. or
$780, 166 a month, or ,265 day, or $3.50
an hour, or So 90 a minute, or nearly 81
| cents a second There is also a check for
SiS0.5d0 on the United States Government
payable to MI Vanderbilt. which was
| Cashed at the Sub-Treasury in New York
and the check returned to the Redemp-
| ton Division. where it is now on file,
keeping company with currency of the
| smallest denomination.
One of the most interesting documents
I! of historical association is the first re-
| deemed Government bond still In exist
| ence, which also is in the custody Of the
| Register of the Treasury. This document
/ is highly treasured, is framed in case
| of glass. closely fitting the ancient Sc
| cuTity and protecting it from the ravages
/ Of time 1t is not allowed to be filed
away with the other redeemed bonds, bat
! occupies q place of honor in the Holmes
| electric protection safe. 1t can be in
/ spected only with the special permission
! OF Mr.. Lyons. The document is dated
! February g. 1T77, and is signed By H
! Hiliegas Cont Treas" 1t is a receipt
/ in favor of John and y r. Bonfield for
the sum of $500, and the United States
obligated itself to repay the amount with
per cent interest thereon on February
! g. 1880. This instrument vas undersigned
by Thomas Smith, and bears the number
I33- 1t is, however, the first OF its kind
or any other security issued by the Gov
| eminent and in its possession
Another document of great interest and
historical import is a draft for So, 900
drawn on the Bank of England in favor
Of the United States. This draft repre-
seuted the award OF the Geneva tribunal
in the famous Alabama controversy It's
| wording is es follows:
Act of March 3 lS63L It is hereby GER
! tilted that SIS, 800, 0J5 have been deposited
with the Treasurer Of the United States,
payable in gold at his office. 70 DreXel.
| Morgan & Co, Morton, Bliss & Co Jay
! Cooke & Co. or their order, Washington
September g. 1873 John Allison. Register
| Of the Treasury: T. E Spinner Treasurer
Of the United States Approved. William
A Richardson, Secretary of the Treas
ury''
The draft is endorsed as follows:
Pay to the joint order of II. b NJ
Minister, or Charge d'Affaires. at Wash
iHston and Acting Consul General at New
| York: Drexel. Morgan & Co, Morton,
Bliss &, Co. Jay Cooke & Co: pay TO the
order of Hamilton Fish. Secretary Of
State Edward Thornton. II. Ms Min
lister: Z NJ Archibald, H 3. NJ Consul
General New York. pay to the order of
Hon. William Richardson. Secretary Of
the Treasury; Hamilton Fish, Secretary
OF State
Speaking of the disadvantages he is Ia
, boring under. Mr. Lyons said yesterday
While this division has complete rec
ord Of each redeemed and exchanged
/ coupon bond. and a perfect list of the
outstanding bonds OF the old matured
loans it would seem that the PreseTva-
still. there Is a doubt II their destruction
could take place without resulting in some
complications in the future. In their de
sJTuctiOn. however ample space room,
now 50 iuprTativeiy necessary would BE-
furnished for the proper filing CT ex-
changed coupon bonds Of the latter issues,
which are being daily received sni aCcu-
TaEHatiEg in very large quantities without
suitable space for storing and fling
continuation Of the destruction Of re-
deemed coupon bonds TO a certain date Of
redemption. II the proper authority can
be obtained, viii very greatly relieve the
present congested condition Of the flies,
without prejudice To the public service.
We have thousands upon thousands of
Cancelled and redeemed paper currency,
shin plaster etc. stored away and duly
filed and registered, and we can at no
mcutS notice lay our hands on any num-
Der desired. The amount represented by
these redeemed Government securities
reach into the billions. and is greater than
the combined money wealth of al the
world