The Republican. [volume] (Oakland, Md.) 1877-current, 1910-05-12
UNIQUE METHOD OF REM
OVATING "GREENBACKSS"
Treasury Department Proposes to
Clean and Reissue All Currency.

methods whereby the expenses OF
the government are curtailed. His
latest scheme, which it is thought
will effect saving of from $780,
900 to $500, 900 annually, is to
wash all currency issued by the
Bureau of Engraving and Printing
that finds its way back to the
Treasury for redemption. Here
tofore all forms of "greenbacks"
and "yellowbacks" have been
acerated after redemption by the
Treasury Department. Now,
however, it is propose to vitalize
some of this currency so that it
may be turned back into the chan
nels of trade, and at the same time
be Just as good as the new paper
currency which comes fresh from
the Bureau of Engraving each day.
The idea was suggested to Treas
ury Department officials by Direc-
tor Ralph of the Bureau Of Engrav-
ing and printing. He detailed
Burgess Smith, a chemist in his
department to carry out the nee
essary work in perfecting system
of laundering old money. Finally,
the plan was considered practical
and a committee of subordinate
officers of the treasury formed for
the purpose of looking into the
subject. Director Ralph says that
Uncle Sans present laundry is
not quite in perfect order, The
mechanical equipment now in
stalled performs the work but it
is thought a more satisfactory sys-
tenn can be devised. For that reason,
Mr.. Smith has been placed in
charge of the experimental work
and has been assigned to work out,
not only practical system but
one that will safeguard the hand
ling of soiled currency. The
practical side of the matter has, it
is said, been attained, but the
other side remains to be develop
ed.
In making the paper currency
at the Bureau a system of check
ing is employed which is as COM
plete as human ingenuity can de,
wise. Each die, roll and plate has
a number in sequence stamped
upon it. Each employee receiving
a piece of steel to work on is
charged with the same until it is
returned to the custodian of the
vaults. In the Office of the Gus
todian complete records ana the
history of $4,000 dies, 5000 rolls
and $1,000 plates are on file. Once
a year the custOdian's records are
checked by a committee from the
Treasury Department. 1t usually
takes three months to accomplish
the task. After the records are
audited, all obsolete dies, rolls and
plates are called for and ordered
destroyed. The same minute sys,
tenn of checking obtains in every
department Of the Bureau and only
twice in the history OF the consti-
tuition have plates and unfinished
bills been reported missing.
As a one dollar bill passes
through about 500 hands before it
become legal tender, system of
checking is absolutely necessary.
The same system it is said, will
not be required when the Bureau
starts laund1ying currency. While
incentive to steal an unfinished
note is not as great as it would be
to obtain a real note, it is all the
more necessary that great safe
guards be taken when the opera.
tives handle the real money. In
washing the legal tender, trans
ferring it from one operator to an
other. Director Ralph believes
that greater safeguards will be i'm
perative. Just now the committee
of the Treasury and Mr.. Ralph are
planning a system whereby it will
be impossible for bill to go astray
while being handled by the opera
tives. As soon as this is perfected
and the mechanical devices install
ed, Uncle Sam will employ enough
laundresses to rehabilitate his