Arizona republican., 1902-09-24

|
 affairs is reached it is probable that in
 short time the notes will stop com-
 ing in altogether their holders prefer
 ing to keep them as souvenirs, heir
 looms or sell them after added years
 have given them increased values as
 curios. The whole amount outstanding
 at this time as a debt against the gov | ernment Is only a few million dollars. l While there are so many persons who
 are not familiar with this money, there
 are very many left to whom it recalls vivid memories. When the years are | reckoned it is not so long ago that this
 medium of exchange was much in evil | dence, and along with the memory of 1t comes the thought of the countless ad-
 vertising schemes that were based upon
 a suitable pocketbook or holder for | this fractional or postal currency
 Many of those to whom the tiny notes
 are known will aver in no weak tones
 that when the currency flooded this
 country that period was the most pros
 porous in their recollection. Certain
 it was, they say, that every one had
 money and plenty of it-at least so far
 as actual quantity of paper went. | The first issue of the fractional postal | currency was made under an act of
 congress authorizing the same, passed
 July 17, 1862, and $20,215,63 was issued
 in denominations of ,, 10, 25 and 50 cents. The second issue and all subse-
 quent issues were made under an act
 passed March 8, 1865. In the second is-
 sue the denominations were the same
 as in the first, the amount being $23,- 164, 4S3.65. A new denomination was in- troduced in the third issue-the Scent
 
 | ly twice as much as that already in circulation under the two former is- sues-sS6, ,115, ,02S.s0. In this last issue there were two 50-cent notes, rare occurrence in the same series. One has picture of Justice and the other a portrait of Spinner. the latter being l rare specimen of the currency. The 3. l cent note and this 50-cent note form 1 two of the hardest" specimens-in the | vernacular of the coin and stamp col | llector-to obtain.
 In the fourth issue, made under an act of June 30, 1864, in conjunction with other acts, there were three series, the | first carrying 10. 15. 25 and 50 cent notes, and the other two series addi-
 tional 5O-cent notes. The 15-cent note made it's appearance for the first time 1 through this issue. The amount issued
 was S176. .567 ,O32. The last issue carried
 but three denominations-the 10 25 and ! 50 cent notes-and the issue amounted to s62,661. 300.
 The notes of the first three issues were not very artistic and were too small, with the exception of the two | 50-cent notes in the third issue. The | last two issues were really beautiful specimens of the art of engraving and banknote printing, the notes of the fifth issue resembling the familiar | treasury note of today in miniature. | The first issue was crude in work
 manship, the prevailing colors being
 brown and green, while the heads of
 Jefferson and Washington, none too well executed adorned the notes. Washington's portrait appeared on the notes of the second issue, which was noticeable on account of the gilt ring
 used as sort of stamp. The colors
 of the notes were varied-brown, green,
 red and purple. The portraits of the 1 third issue were those of Washington, Clerk. Fessenden, Justice and Spinner. The fourth issue gave the first evidence of any artistic ability on the part of
 the governments employees, one of the notes being adorned with handsome | vignettes of the Goddess of Liberty. while others had the portraits of Wash i ington, Lincoln, Stanton and Dexter. This was the first issue that the gov ernment used the familiar seal that re- sembles the one used on the treasury note of today. The fifth issue was very artistically gotten up, and had the portraits of Meredith. Crawford and Walker
 There are some specimens of this currency which, in the eyes of the coin collector, are worth very much more than the others. A 15-cent note with | the heads of Grant and Sherman is very valuable, as is the 50-cent note with the head of Spinner and a red back. Some of the notes that are not especially valuable triple their com
 mercial value should they happen to have red backs. The 15-cent note cited above is the most valuable note in the whole set of fractional currency. Other notes become valuable if provided with a written instead of an engraved sig nature. Tn the first issue there were two kinds of edges, one set with per forated edges and one with the straight edge, each set with different value. Some of the notes were also printed on what is called split" paper. When the character or the paper was 0lScOV- cred the work was stopped and this fact makes these notes doubly valuable on account of their scarcity.
 The whole amount of fractional cur rency issued was $36S. 724 ,07945. They were issued of denominations-3 cents, $6O1 923, ,45; cents 5,694. 717.S5; 10 cents, $S2, ,19S, ,4S6.SO: 15 cents. $5,365, ,56S.40; 25 cents, s139, 9,O31, ,4S2, and 90 cents, s135,-' S91, ,930.5O. The whole amount out standing June 30. 1902, at the close of the fiscal year was, according to the treasury department report, $15.249,- 261.96, showing that since about 1865 over $35O, 0O0 900 worth of this paper has been redeemed by the government. Of this amount outstanding the actuary of the treasury department estimates that $S, ,375 934 has become worn out, lost or totally destroyed, and will, consequent ly, be a clear gain to the government, as it will never be presented for re- demption. This leaves the total amount now outstanding as a liability of the government $6,s73, S27.96. It is interest II,