New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-24
FATE OF OLD B4NKNOTES.
To Be More Thoroughly Macerated,
for Pieces Hare Been Redeemed.

Through order promulgated by the Treasurer
OF the United States. the old macerating machine
in the sub-basement Of the Treasury at Washington
has been put out Of commission. and hereafter all
paper money whether Issued by the government
by national banks. will be reduced pulp IN the
large macerator at the Bureau OF Engraving and
Printing.
This order was brought about by protest made
by national bankers claiming that the old machine
failed to do Its work perfectly and that the bank
notes dumped into II not infrequenty turned up IN
sections for redemption by the banks OF ISSUE that
the pulp sold TO various makers and manufacturers
OF images TO be resold souvenirs. filed with
large pieces OF bills and that these were picked
from the pulp images and offered FOR redemption
Notwithstanding the fact that the Treasury mac
orator has been in service for many years and has
reduced to pulp many triliOns OF dollars in bank
notes which had ceased to be current this COM
plant the first one ever made against It's non
performance OF duty. but the 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 heavier demand than
any other and those made from the pulp OF the
notes last destroyed-or partly so-oy the treasury
rnacerator have always brought higher price than
the ones manufactured from the pulp Of the maceT-
ator At the Bureau Of Engraving and Printing this
being due entirely 10 the fact that images from
the latter contain not speck OF greenoacks. the
notes being reduced to almost vhitsh pulp. Nat
,,~,rI,. visitors prefer an image made from real
money in which some Of the money would be In
evidence Tho Treasury macerator production. OF
outpu. was therefore worth a great deal more 20
the manufacturers and always brought a much
larger price In fact. the bureaus pulp was almost
a drug the market
But now the images-busts Of Presidents. the
Washington Monument. Uncle Sans hat. the ma
ury cats dogs frogs etc. each representing rom
DHIp or a first class counterfeit for every note de-
stroyel be I'm this specially coiStrug leu mae
orator, which works every day ana night IN tne
year except Sunday, there being from 81 5V'W1 20
s. 90 COO maCerated every tW'utN-four hours rms
work OF maccratiou and the preparation for II are
under the personal direction of representatives OF
the Treasurer, the Secretary, the Controller ana
The Rarister and these natives go with the
heavily guarded wagon containing the money 10
~ bires,f where II is taken from the steel boxes
checked off placed I'm the uaCeratOr. the iron doors
closed locked and sealed. and then the machine
begins its work OF destruction. The large boiler
some kind OF chemicals and network Of machinery
keeps up 4 continuous ChuruinS and grinding until
o'clock the following ddv when It Is stopped the
pulp taken out. and another million or Two placed
In 10 be treated in the same way Tor the next
twenty-four hours
sfbie for any find any evidences Of money
i'm the pulp even the small silk threads which run
through all genuine notes being entirely destroyed
savc TO form a part OF the whitish pulp.
With the issuing of the order by the Treasurer
there are walls and wCepincs by q score OF old
images They feel that their occupation Is gone,
and that starvation stares them IN the face II
dealers express the belief that business in the pulp
image line will move along usual. because.
i'm catching the fact that IL is not hard work
To off q small portion OF bill and stick II
on the image. hundreds Of them being easily doc
tored in this way in "A short time Should Chief
Wilkie or some OF his catch up with ulauufaCt-
urers or dealers mutilating bills in this way
make images salable. another chapter would be
added