Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1901-11-02

Washington, Oct. 31.-Thnt unusual
activity prevails in the retail trade of
the entire country is evidenced by de-
mand upon the treasury for notes or
small denominations and fractional sill
| yer so great that the resources of the
government are taxed TO the utmost to
keep up with it.
\ part of the demand is traccable in
directly to the act of March II, 1900
which rcmodrllCd the lesser paper cur
rcncy by providing for the exclusive use
! of silver certificates for all d, n0mina-
tions under SO. Tbs made ii imp S.
S bic for the treasury TO pay out again
Il large quantity of notes which ii had
| on hand and required their replacement
/ with liver certificates. to say uUthing
of the output ncccssitatcd by the daily
! inflow of more of the tabOOcd small
notes for exchange.
| The necessity for using small silver
certificates with such extraordinary ra-
ridity forced into circulation Il great
volume of paper money which was
| green and uuScaSOncd. and therefore
| likely to wear out douhly fast. while
its low denominations were an ASSN
ancc of its use in hand-to-hand retail
trade, the Srvrrest ordeal though which
any kind of money can bc put. All the
| conditions, therefore. forecast early
mutiation. and hence II great accrle-
ration in the rate ut which further sup
! plies would have been pro, ,ded.
Some months ago the treasurer, ind
ing that he had to issue the new Sertif-
ica,cs rs fast as they reached his re-
serve vault. obtained authority to ac-
curnulatc Il large advance stock so as
to have Il quantity seasoning while
drawing what he required for current
needs. tn, bureau of engraving and
printing, which has been considerably
enlarged in space and mechanical plant
/ had not only to increase its force OF EN-
| ployuS, but to work them more hours in
the daytime and also night shift be-
SIDES.
Still the demand grew, more than
keeping pace with the expansion OF tn"
bureaus plant and personnel Then the
stock of distinctive paper threatened to
run out, and the factory ut Dalton.
Mass. was gOaded to do more. The
paper makers pleaded that they had
reached their limit but a few days ago.
| Mr.. Huntington, chief of the loans and
currency division of the IT, hsury, made
Il trip to the factory, and succeeded in
work ing out II scheme for increasing the
average output of 100000 sheets Il day,
hitherto the high water mark. to
100000 sheets. In spite of this increase,
and the period of comparative duntSs
which must be expected after the spring
trade has passed its prime, it will take
several months to accumulate any con
siderable supply of finished money for
the treasurer'S reserve vaults.
In the minor coinage a corresponding
activity prevails. The mintS cannot
keep up ut all with the popular demand
for pennies and nickels The bulk Of
their efforts are concentrated upon 80
cent and 25-cent pieces. At Philadcl-
phia, where stock of S74 600. 600 worth
of gold bullion has accumulated. all this
has been laid aside to make way for the
halves and quarters. of which the ma
chimes are turning out S1.3OOOOO or
more each month. At San Francisco
and New Orleans similar orders have
gone forth. although later. and the clos
ing days of the month will show an ag-
grcgate product of 100000 or $T00,OO0
| in these two mintS.
1t is now regarded as extremely for
tunate that congress raised the limit Of
$1O. 5000 for outstanding fractional