Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1903-03-11
COUNT $1,000, 600 EACH DAY.
Experts are Kept Busy In the New YorI
Sub-Treasury.

to the ground in autumn, so in the
first month in the year bills of the
smaller denominations are falling
into the United States sub-treasury
on Wall street. There are more
small bills in circulation now than
ever before, and the usual shower of
bills has changed this year into a
storm.
The bills that come to the sub
treasury for redemption show a
greater percentage of those that are
worn and soiled than ever before.
They are from the banks, where an
unusually large number of small
bills are now being received to be
exchanged for notes of larger de-
nominations.
For the month of January the
number of bills received at the sub
treasury has averaged 100000 daily.
They are mostly of small denomina-
tions, comparatively few represent
ing more than $40, but the aggre-
gate face value of the 10000 notes
out S1,0OO,000. They are re-
n the bill room, which is on
syou enter the sub-treas.
Vail street.
larily about $4,000 or 10000
bills are received in day, and half a
dozen expert counters are enough to
do the work. Now, however, six
teen rapid billhandlers work behind
the partition from 9 o'clock in the
morning to 4 o'clock in the after
noon, counting, sorting, stacking and
bundling the bills.
Such bills as are soiled and unfit
for circulation are made into pack
ages of 1000 each. Eight of these
packages are made into a bundle,
which weighs three and a half
pounds, and shipped to Washington
for destruction. About forty of
these bundles were shipped from
New York every day during the last
month. This means that through
the hands of each counter passed
daily 10000 bills of various denomi-
nations but representing an average
amount of $62,437 and weighing nine
pounds. The annual amount re-
ceived is about $1,000,OOO.
The side of the building opposite
to the bill room is busy place, even
though from the outside it appears
quiet. This is the disbursing depart
ment. Clearing house balances are
settled here, bills are changed and
coin is redeemed on vouchers OBJ
tanned in the coin room.
The largest note of the govern
ment is for $4,000. Very few of
these big fellows are seen outside of
New York. They are so common
here that not day passes that the
teller in the disbursiRg department
is not called on to exchange a dozen
or more of them for bills of smaller
denominations.
1t is not likely that they will ever
become common in the usual accept
ance of the term, but no man who
possesses one need hesitate about
asking to have one charged for fear
of questions about it's ownership.
They are mostly demand notes, paya.
BILE to bearer, and possession is all
that one need prove to obtain bills
of smaller denomination for the
big fellow.
Some banks have these $4,000
notes made to their order, but gene
rally the bearer notes are used. 1t
does not require many of them to
make a good-sized fortune, and the
writer held in one hand three not
large bundles of these notes repre-
senting cash value of $1,000,OOO.
This was in the gold room, back of
the disbursing department. 1t is
twin to another room directly oppo-
site and used for the same purpose.
These rooms are 10 larger than the
ordinary living room of family, but
Cr9sus never saw such a mass of
wealth as is piled up in them.
Packed in small bags and tucked
away in the small closets that line
the rooms are. stored gold coins to
the value of $2O0,000,OOO.
Entrance is effected, when busi-
ness requires it, by -means of two
keys, held by two trusted men. No
one is left for moment in either of
the gold rooms alone--nor would he
care to stay there long.
Each of the closets is examined
once month by three officials, who
compose the examining committee.
The sealed bags containing the gold
are counted and the closets that are
filed are sealed, the amount con.
tanned in each stamped on a tag,
which bears also the initial of each
examining officer. The seal in the