Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-04-29
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Fate of Old Banknotes.

Tdte OF Sto odnknoteS.
Through an order promulgated by the
treasurer Of the United States, the old
macerating machine in the sub-base-
ment of the Treasury at Washington
has been put out of commission, and
hereafter all paper money, whether is
sued by the government or by national
banks, will be reduced to pulp in the
large macerator at the Bureau Of En-
craving and Printing.
This order was brought about ~ 4
protest made by national bankers
claiming that the old machine failed to
do its work perfectly, and that the
banknotes dumped into its not infre-
quently turned up In sections for re-
demption by the banks Of issue; that
the pulp sold to various makers and
manufacturers of images, to be resold
as souvenirs, was filled with large
pieces of bills. and that these were
picked from the pulp images and
offered for redemption. Notwithstand-
ing the fact that the Treasury macera-
tor has been in service for many years
and has reduced to pulp many triilions
of dollars in banknotes which had
ceased to be current, this complaint
was the first one ever made against its
Treasurer got such positive evidence
that the bankers were correct in their
assertions that he issued the order
washington souvenir dealers have
long realized that the pulp images
found a heavier demand than any
other. and those made from the pulp Of
the notes last destroyed-or partly So
by the Treasury macerator have al
ways brought higher price than the
ones manufactured from the pulp OF
the macerator at the Bureau Of En-
craving and Printing, this being due
entirely to the fact that images from
the latter contain not a speck of green
backs. the notes being reduced to al
most a whitish pulp. Naturally, visit
ors prefer an image made from, real
money" in which some of the money
would be in evidence. The Treasury
macerator production, or output. was
therefore worth a great deal more to
he manufacturers ard always brought
a much larger rrice. In fact, the bu-
ralu's rulr was almost drug On tn.
market. t+,
Iiu; ..uW ne unuge S--hust Of Prrsi
dents The Washington Monument. IN
-ie Sans mt. the national emblem. tn
eagle the Conitol. the Treasury, cats.
l"Pe, frogs. ste. zach representing fro.r
$l,U"a to si5.Hhd--intTSt bA made irur
the bureau pulp OF first class cDuytes'-
felt. for every note destroyed mast oc
IN this srecially CONSTRUCTED macerator,
which works every day and night NV ti4c
year eXCept Sunday. there heirf, from
$500. 00n to 50. 600. 0nO manerateG ovarS
twenty-four hours This work or r1ac--
Grafton and the preparation for it arn
under the personal direction of reprs-
sentatives Of the Treasurer, the Serr'e-
tary, the Comptroller and the Register.
and these representatives go with tn,
heavily guarded wagon containing the
money to the bureau, where it is taken
from the steel boxes, checked off, placed
N the macerator, the iron doors closed,
locked and sealed, and then the ma
chine begins it's work of destruction.
The large boiler or vat in which the
money is placed is filled with some
kind Of chemicals and network of
machinery keeps up a continuous
churning and grinding until IL o'clock
the following day, when it is stopped,
the pulp taken out, and another mil
lion or two placed in, to be treated in
the same way for the next twenty -four
hours
BY this process of maceration II IS
utterly impossible for any one to find
any evidences of money in the pulp,
even the small silk threads which run
through all genuine notes being en-.
tirely destroyed save to form a part Of
the whitish pulp.
With the issuing of the order by the
treasurer there are walls and weepings
by a score of old soldiers who have
been manufacturing these pulp images.
They feel that their occupation is gone,
and that sure starvation stares them.
in the face if compelled to use the Blu
reau pulr. hut some Of the dealers ex-
press the belief that business in the
pulp image line will move along as
usual. because, as one expressed 1t,
there will not be much difficulty IN
catching on to the fact that 1t Is not
hard work to pinch off a small portion
of bill and stick 1t on the image, hum
dreds Of them being easily doctored h.
this way in a short time. Should Chief
Wilkie or some of his men catch IN
with manufacturers or dealers mutt
latirg bills in this way to make images
salable, another chapter would be
added.