The Falls City tribune., 1909-12-17
WANT CLEAN NOTES
MAJORITY OF PEOPLE oBJEGTTo
HANDLING DIRTY MONEY.
Consequently Uncle Sam Is Kept Busy
Destroying Old and Making
New Bills-Barometer of
country's Prosperity.

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"The redemption of wornout paper
money is now averaging So, 100000 a
day. During the fiscal year just closed
the government redeemed and de-
stroyed the enormous total of $780,
0 $1,000, which is easily the largest
amount redeemed in any single year.
These figures show that there is great
activity In business circles through
out the country"
The foregoing statement was made
by United States Treasurer Treat. He
says that one of the best barometers
of the state of national prosperity is
to be found In the daily reports of the
redemption division of the treasury
department, When trade is brisk
throughout the country and people are
buying and merchants are selling, the
medium OF circulation passes rapid
1y from hand to hand. When paper
money, worn and ragged by rough
usage, finds its way to the treasury
for redemption, it is an unfailing sign
that times are good.
All records have been broken in the
redemption division during the past
few months. The value of bills turned
in to be exchanged for new ones has
been running over So, 900, 600 a day for
a long period. About six years &
the daily redemptions we're less than
81, 000, 900. The great volume of worm
out bills now being presented are in
denominations of 81 and 50. The ac-
tiyity of business is further shown by
the frequent requests for the ex-
change of S. and $40 notes for ones.
During the past six years there has
been an increase of so per cent. in the
total number of 81 bills in circulation.
The people of the United States"
said a treasury official, ARE growing
more fastfdious every year in the mat
ter of handling money. They have
gradually become accustomed to
fresh, crisp bank notes or treasury
certificates. and don't care to handle
soiled and dirty looking money, sug.
gestiye of microbes. The government
has encouraged this tendency to de-
mand clean notes.
"A big money factory is maintained
here for the purpose of renewing the
supply, and it costs very little for
banks to get it. The only charge in
volved in the exchange is 40 cents per
S $1,000 for transportation. The banks
have learned that their customers like
clean money. and they do o hesi-
tate. to return. crumpled and worn
notes and demand new ones. 1t is a
rare thing for the department to send
back these notes with a statement
that they are still fit for circulation.
The average wear of a 81 treasury
certificate is Il months. Formerly a
note would stay out for three or four
years. Roughly speaking, the body of
the circulation is entirely renewed
every 2R years"
The business of redeeming paper
money has grown to such proportions
that the government recently found it
necessary to improve its machinery
for destroying notes. For more than
half a century paper money for re-
demption was destroyed by being cut
in two by, a giant steel blade operat-
ed by a Strong-armed employee. Now
the notes are mutilated, first by an
electric punch, which puts four holes
in each bundle of stacked up bills.
Then they are pushed under a knife,
also operated by electricity, which
deftly cuts them longitudinally
through the middle. Between COG. 600
and 1000, 900 individual notes are thus
destroyed every day.