Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-09-27

| wiz 10 AdAhldI Will III " WuOlu IL
is likely to bring thousandfold memories it
| generally causes controversy on the spot.
| A considerable amount Is redeemed at the
| Treasury Department every year, and the
| amount so redeemed has increased very
| perceptibly during hard times and 1essened
| during periods of comparative prosperity.
| The dearth of ready money has many times
forced those who have boarded up the lit
| tie notes to go down into their stockings
1 for the coin. In a few years treasury
| officials expect that the amount presented
| yearly will dwindle to a few hundred dol
| lars. and when this state of affairs is
| reached it is probable the notes will stop
coming In altogether shortly afterward,
| their holders preferring to keep them as
| souvenirs or dispose of them after added
| years have given them an increased value
| as cur1os. The whole amount outstanding
against the government as a debt at this
| time is only little more than fifteen and a
| quarter million dollars
Prosperous Times.
While there are SO many persons who
are not familiar with the "shinplasters,"
| as they were commonly dubbed, there are
| still many left to whom they recall vivid
memories. When the years reckoned, it
| was not SO very long ago that the medium
| of exchange was much in evidence, and
along with the thought Of it comes the recoi-
lection of the countless advertising schemes
| that were based upon a suitable pocket
book or holder for this currency. Many of
| those to whom the diminutive notes were
once familiar sights will aver in no weak
tones that when the country was flooded
| with this fractional currency, and the same
notes of larger denomination, that period
| was the most prosperous in their expert
ence. Certain 1t 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 wasHmade' under an act authortz-
| ing it. passed July T. 1862 and s2O,215, 635
was issued in denominations of five, ten,
| twenty-five and fifty cents. The second and
| all issues thereafter. were made under an
act passed March 3, 1865. In the second is
sue the denominations were the same as in
the first. the amount being $23, 1914, 4S3. IS.
| new denomination was introduced in the
! third iSSue-the three cent note-and the
amount issued was nearly twice as much as
| that already in circulation under the two
previous issues-$S6 115, 80. In this last
| issue there were two fifty-cent notes,
rare occurrence in the same series. One
| has a picture of Justice and the other
| portrait of Spinner, the latter being high
| ly-priZed specimen of the currency. The
| three-cent note and this fifty-cent note form
1 two Of the hardest specimens. in the YER
| nacular of tn small boy and the collector,
| to obtain.
| In the fourth issue, made under act OF
| June 80, 1864, amending the previous acts,
| there were three series, the first carrying
| ten, fifteen and twenty-five and fifty-cent
| notes and the other two additional fifty
! cent bills. The fifteen-cent note made its
| amount issued was size, 587 O32. The last
| issue carried but three denominations, the
| ten twenty-five and fifty-cent notes, the
amount put into circulation being $50, 661,-
| 800.
Notes Were Not Artistic
The notes of the first three issues were
not very artistic and were too small, with
| the exception of the two fifty-cent notes of
| the third ISSUE The last two issues were
| really beautiful specimens Of the art of
engraving and bank note printing, the notes
| of the last issue resembling the familiar
| treasury note of today in miniature.
| The first issue was crude in workman
ship, the prevailing colors being brown and
| green, and the heads of Jefferson and
| Washington, none too well executed, adorn-
! ing the notes. Washington's portrait also
| embellished the notes of the second issue,
| which was noticeable on account of the gilt
| ring used the official stamp of the treas
| ury at that time. The colors of the issue
| varied-brown, red green and purple. The
portraits of the third issue We're those of
| Washington, Clark, Fessenden, Spinner and
| Justice. The fourth issue gave the first
| evidence of any artistic ability on the
part of the governments craftsmen some
of the notes being decorated with hand
| some vignettes of the Goddess Of Liberty,
| while others had portraits of Washington,
| Lincoln, Stanton and Dexter. This-was the
first issue that the government used the
| familiar seal that resembled the one in use
| today on treasury notes. The fifth issue
| was very artistically gotten up, and had
the portrait Of Meredith, Crawford and
| Walker.
There are some specimens of this currency
| which, in the eyes of collectors at least, are
| worth very much more than others. A If
teen-cent note, with the heads of Grant
and Sherman, Is very valuable, as is the
ffty-cent note with head of Spinner and red
| back. Some of the notes that are not espe-
| cially valuable or rare triple their CONNER
cial value should they possess red backs
rh4 ant mi to-
most sought-after note in the whole set of
| fractional currency. Other notes become
valuable If provided with written instead
of an engraved signature In the first there
| were two kinds of nOtes-one set with per-
forated edges like postage stamps and the
other with anstrafght edge--each set with
its different value.s Some Of the notes were
also printed on what was called "split'
paper. When the, faulty character of the
paper was discovered the work was stop-
ped and the notes were called in, and this
fact makes them idoubly valuable on ac-
count of the scarcity of the issue.
Whole Amount Issued.
The whole amount of fractional cur
rency issued was $36S. 724. O79.45. There
were issued Of idenominations-3 cents,
$601 ,923.90 cents. 81. 694, 717.s5; 10 cents.
$s2 1913. 456. 3d. Is cents, s53O5. 1855. 40; rs
cents, $3.50 49, and 90 cents. s1S5. S91.
5000. The whole amount outstanding at
the close of the fiscal year. June 30, 1904.
was, according to the treasurer's state
ment, $15,245, 1881. showing that since
1855 about three hundred and fifty millions
of dollars of this paper has been redeemed.
OF the amount outstanding today the actu-
airy of the Treasury Department estimates
that Sc, 375 1884 has become worn out, totally
destroyed. lost or held as curiosities and
will, consequently, be clear gain to the
government, since 1t will never be presented
for redemption. and Uncle Sam will be in
that amount Thus the estimated actual
sum outstanding is reckoned at So 500 25I q.
1t Is interesting to note tho amounts re-
deemed each year. Beginning with 1902
and going through the hard times follow
ing. s2,0oS were redeemed in the fiscal year
ended June 80. 1858: $3367.2O. In 1894; s.,
019,9a in 1895; 0,9S3.35 in 1885, and So
1880. In 1897. The last figure shawed q