New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-05
COUNTING MILLIONS OF MONEY

COUNTING MILLIONS OF MONEY
SEVERAL newspaper men IN the National
- Capital were discussing Treasury al
talrs and one OF them said: There IS no
place IN this country where new money IS
always to be found IN circulation, except
Washington. Everywhere else there IS old
ragged dirty, not to say filthy, paper money.
some OF 1t germ-laden and disease-breeding
Here IN Washington the paper money IS
always fresh new and crisp. Whv IS ita'
One OF the older writers said CONGRESS
makes appropriations amounting 10 approxi-
mdtely eight hundred million dollars annually
tor the Government expenses That enor-
nous amount OF money. which is backed bv
gold and silver IN the vaults is printed every
year IN Washington. and is issued through
the Treasury Department You must under
stand that while banks all over the country
ISSUE old notes, the Treasury never issues
anything but new money. That is why all
OF the money IN Washington Is new There
are thirty thousand Government EMPLOYEES
here. and they are paid IN bright, new notes.
twice every month. They distribute their
money for the necessities of life and hence
YOU ind 1t here in circulation"
The question arose: How long does II
take for the women experts in the Treasury
TO count million new one-dollar notes and
how long does 1t take 70 count a million old
one-dollar notes. q" This question was taken
10 the Treasurer who authorized one of his
subordlnates 10 prepare the following memo
II d m
As 10 the time It will require 10 count
one million dollars you are informed that IN
handling new notes an expert IN this Office
could count IN a day Of eight hours about
fifty thousand dollars. OF course this refers
TO notes II the denomination OF one dollar
In counting gold certificates Of the denomIna-
tons OF ten thousand dollars each II would
require but short time 10 count one million
dollars.
NJ this rate twenty days would be occupied
IN counting one million dollars represented by
notes Of the denomination OF one dollar
However, It rs hardly possible that anyone
could keep up 10 these figures for such a
period. and II would he safe 10 add five DAVIS.
and say that one million paper dollars could
be counted IN twenty-five DAYS.
or silver dollars. forty thousand NAV be
counted m day OF eight hours. which rate.
n adhered 20. would finish the one million
dollars twenty-five days, but 1t would lie
well 70 add five days here for the same reason
and make II thirty days for counting q million
silver dollars.
In counting old notes. the conditions are
much changed. There are five different
kinds Of paper currency Id certificates.
silver certificates United States notes green
backs Treasury notes Of 1900. and National
Bank notes. Remittances Of mutilated cur
rency may contain all these different kinds #
currency. They may not be as-orted properly
by denominations and may be badly multi
ated. Where cases OF tins kind occur. the
count IS tedious and slow but assuming that
the currency sent IS IN accordance with re..l.-
lations, an expert could. on an average count
fifteen thousand dollar-notes a dav THIS
would require about seventy DAYS 10 count a
million one dollar bills in old notes Of various
kinds OF paper currency.