New-York tribune., 1906-05-19
URGES CLEAN MONEY.
Treasurer Treat Says Need Is Great
Report on Pending Bills.
[FrOm the Tribune BuFoau-I


Washington, May 1S.-Charles III. Treat,
United States Treasurer, has submitted TO Sec
retary Shaw report the subject OF "clean
money! in connection with legislation pending
in Congress. Mr.. Treat makes a strong argu-
ment FOR legislative action to provide clean'
crisp paper money for everybody. and it will be
used by the advocates OF this legislation IN the
House.
There are three bills 70 provide for clean
paper money now before the House Committee
on Banking and Currency. and Treasurer
Treat in accordance with the directions of the
Secretary to report on direct, economical and
expedient plan," has analysed each Of the bills,
submitting his opinion on them. None OF the
three measures, which were introduced respec-
tively by Representatives Fowler and Wiley, of
New Jersey and Gaines, of Tennessee has Mr..
Treats complete Endorsement, but there are
meritorious features in each measure. in his
opinion, and he believes that a satisfactory law
can be framed with them basis.
In the bill Of Representative Gaines, Of Ten
nessee, Mr. Treat does not approve Of the pro-
vision for the perforation or stamping of notes
intended for redemption, to be used by the bank
or banking institution sending them in. This, he
saws would make the counting OF the notes at
the Treasury a very difficult task. The essen
tiaI rrovision Of the Gaines bill, requiring all
national banks to forward by mail to the Treas
ury or any sub-Treasury for redemption ana
reissue all mutilated United States paper cur
rency they may have when it aggregates not
less than $1,000, is, in his OIr. Treats) opinion
framed on the right lines.
Mr.. Wiley's bill, which. provides that any kind
Of paper money returned to the Treasury for re-
denption shall be destroyed. is considered by
Mr.. Treat as too drastic. The Treasurer ne De-
ueves. should decide as to whether the condition
Of the money warrants its destruction ne op-
iects TO the Incorporation Of national oanK
notes under this provision. The third DILL that
Of Mr.. Fowler which provides for the expenol-
ture Of 100000 for the transportation OF "of"
and mutilated paper currency to the treasurer
for redemption Mr.. Treat believes has merit.
On the subject of clean money legislation MI.
Treat said to-day:
There never was a more OppOrtune time or
more urgent need for clean money leglsIatloH
than now The Treasury Department by recent
action of Congress is saved the eXpenuICuLS al al
nually Of S150000 for the transportation VI Stl-
ver coin the shipment Of which now must De
paid for by the banks. The argument mas as a. a.,
JVays been made that to issue clean money Wo1lo
ne a heavy expense but it is my belief that the
reapprOpriation of this $15O.OOO Woulo PLSc'A-
cally cover all the expense.
The cost attending the making OF clean money
IS greatly exaggerated. We already nave tnS
plants to do the work, and when 1t is CONSIDERED
that millions are now lost to the government py
failure Of redemption the thing seems 70 DaIahCe
up pretty evenly. Tne supply OF SILVER uOAlSNAS
is now only a third of what 1t was year ago.
The South informs that they will require an
immense number OF 81 and 81 bills, and the
present is an excellent time to furnish them
with new issue of paper money. Crop money
viii be needed in quantities. and clean money
would get into wide circulation at this time.
AS to the unclean money now in circulation
and breeding disease there can be no question
in my mind. The professional counters are, as
a rule, trained not to lift their hands 70 their
faces while counting, but many man counting
money unconsciously rubs his nose or eyes and
starts disease in that way. We have been in
formed that many women make a practice of
carrying rolls Of bills in their stockings, but
doubtless they are unaware Of the danger con-
nected with it. The women in particular are
responsible for the agitation for clean money,
and many petitions have reached US from the
family banks in New York City and elsewhere
urging some measure to insure clean money.
Paper currency after circulating a long time
very often has a peculiar odor In the redemp-
ton division Of the Treasury. where this money
is counted, we find this particularly noticeable
and much sickness has been attributed to this
cause Eighty-hve per cent Of the total paper
currency now in circulation is in ST. So and S.
denominations, and these are the bills that be.
come especially unclean.