Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-04-03
OLD CURRENCY NOTES
Outstanding ShinpIa sters That
viii Not Be Redeemed.
UNCLE SAM IN sis, Ooo,o

i
UNCLE SAM IN SIS, OoO,O 900.
Many Of rhese QGesr Little Bills Are
Held BY Collectors Of curios, Who.
Have No Intention Of Giving Thorn
Up For Their Face Value.
It has been long since our pocket
books were pulled up as they were
when fractional currency was III its
| prime. No doubt many who now
smooth out and fold up the '..long
green" at regular pay days have but.
faint recollections OF the times when
the pretty little notes, about as big as
an ordinary visiting card and bearing.
denominations Of l3 s, 10, is, % and SO.
cents, were in circulat ton. VI
| It was on the It'll Of March, 1862
when Salmon P. Chase was secretary
of the treasury, that Mr.. Hooper Of
Massach usetts introduced into the ma
tional house of representatives "a bill
to authorize payment In stamps and to
prohibit the circulation OF notes Of less
denomination than 81. 2 Many banks
were then issuing small notes, and the
small coin was rapidly disapp
from circulation. This bill became
| law almost immed lately, and then the
little currency notes were launched out
as good money.
| During their existence total
amounting to 1858, 724 ,099. As was is
sued, and the greatest amount Of it
was on its travels throughout the land
on March %, 1879, when the various
denominations of fractional currency
showed up a total Of exactly $49, &c.,
/ 7G0.27. This sort of money was issued
very rapidly for awhile, but it was
also being almost constantly redeemed
The issues did not go beyond fifty mill
lions at a clip, but there were all sorts
of ways in which it became lost In the
hurry burly and hustling Of the times.
! It became limp and ragged by constant
use and could hardly be kept in good
shape. II was never SO tough aud
hardened as the bills Of today, and the
almost constant redemption Of soiled
and ragged notes kept large force Of
clerks in the department always busy.
Much Of it was lost. It was by this
that the government was gamer.
People throughout the country sent all.
i sorts Of petitions to the treasury to be
reimbursed for such losses.
Some Of it was kept In the summer
time In kitchen stoves, and when the
4 good housewives kindled their fires in
i the autumn, forgetting their little
| notes, as they frequently do now about
large notes, they burned to ashes, and
/ Uncle Sam was gamer By their loss.
Sometimes from the farms away OF In
the country came dolefuI letters, ac-
companied by aHidavits and words Of
honor, explaining that little bundles Of
them were accidentally dropped and
hogs made meal of them. All of this
was calamity to the owners Of the
currency, but a gain to the govern
ment .s
OF all the three hundred and odd mil
lions Of fractional currency there is
now outstanding about STE, O00,O 900.
/ The discontinuance of printing frac-
tional notes happened In the middle Of
1876, when specie payments were re-
sumed and the coinage Of subsidiary
silver money was authorized. There is
1 little chance Of any further redemption
OF paper fractional currency being de-
4 manded ss$55 .s 5 ss
Some curious folks might be dis
posed to wonder why Of all the fifteen
] millions of fractional currency that are
now somewhere in the land some of 1t
4 has not been turned In to the treasury.
for redemption and the good green
/ backs of today secured in exchange.
Taking everything into consideration,
! there is as much chance for the gov
eminent redeeming these outstanding
/ notes, even IL 1t desired to do so, as
there Is for the redemption OF the old
! Continental lnotes that were used to pay
of the government debts during the
i Revolutionary war. The comparatively
small amount OF fractional currency
i thar exists today Is considered great
II Ny eIhOSCa NLO llOi0 ~ lCp-
resents most trying period In the
country's financial history. The funny
4 little notes are being held as souvenirs
by thousands. They can be found In
albums. In libraries and institutions
of all kinds throughout the country
they are framed and carefully cherish
ed and guarded. II there are persons
who possess any Of the fractional cur
renoy notes and want to dispose OF
them for subsidiary silver coin or for
greenbacks. they would not at this late
day present them to the treasury for
i redemption. Uncle Sam has no senti.
ment He would pay face value and
nothing more.
There are some folks who would be
glad II congress would renew the frae,
tional currency law. 1t Is 80 easy
when one wants to pay small debt to-
his neighbor and wants to send 1t by
mail. Ii 1T Is less than a dollar. he has
to inclose silver IL he uses the mails,
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