The Birmingham age-herald., 1907-10-08

indirect custodian of $S0O,O00,000 In gold and silver stored in the vaults. The se- cret service keeps a keen eye on sus- picious characters, ready to apprehend counterfeiters, and runs malefactors 10 earth with frmness and precision that discourages many attempts at making the queer" As any chemist can make the paper used. and as any engrayer can re- produce the work, the head of the secret service bureau claims it is a great tribute to the integrity and honor of engravers that only two, in his knowledge, have ever stopped to counterfeiting
 When the United States threw off the British dominion the first necessity was a treasury, and thus this department Is oldest of the administrative bureaus an- tedating the constitution and keeping it's organiza tion intact under the confedera- tion and the constitution Three weeks after the adoption of the Declaration of Independence, Congress organized treas ury and appointed Michael Hillegas and George Clymer as joint treasurers on . salary of $500 It is peculiar fact that for a century the existence of Hillegas was forgot, and Morris was looked upon as the first treasurer His memory mas been given tardy recognition recently, his portrait and title, First Treasurer of the U. s." appearing on the new BIO gold cer- tificate. In 17S1 Robert Morris was named superintendent of finance for the struS- gling new nation. Seven years later the constitution waseput into force and Alex ander Hanilfs was chosen by Jash- ington to formulate q system for manag- ing the finances of the United States, a system which with very slight alteration is still in use.
 The first loan was secured with diff culty from the Farmers General of France during the American revolution, and amounted to $1Sl, ,50O. In 1896 it was easy to obtain loan of $100 0O0 coo, is- suing per cent bonds for thls purpose. The greatest amount of interest-bearing debt outstanding at any time was in the fall of 1865, when the enormous sum of $2, coo had been reached. In one day, under Lincoln's administration, lne round sum of Si6O00 900 was drawn out for quartermaster' stores and arms. This one-day expenditure in the stress of the nations struggle for life, would have been more than enough to pay the entire government expenses for year during Washington's administration.
 So eager is the government that the property rights of each individual in his own money should be protected, that torn, burned or otherwise damaged currency may be redeemed under certain condi- tions. If three-fifths of a damaged note is sent in the bil. may be redeemed at face value; if less than three-fifths and more than two-fifths be sent, only half value will be given, and any part less than two-fifths is not redeemable unless proof is brought that the rest was de- stroyed. From the San Francisco fire came many charred notes, carefully packed in boxes, the majority of which was redeemable, while bits of pulp taken from a cows stomach, tiny shreds of green and yellow paper and blackened and charred bits of paper have all been proved to be redeemable currency when brought under the keen eyes of the gov ernment experts.
 rn1nnrrnw- hnnt NnIahla Americans.