El Paso herald. (El Paso, Tex.) 1901-1931, 1910-02-19

His mothers people went thither across
the Alleghenies before Gideon was
born. Later on, when he was a small
boy, his parents Travelled back in car
riages to Cumberland, Nd, and there
took passage on the B. & o., which did
not extend beyond that point in those
days. The boy got a job, at IS a week,
in a notion store in Baltimore.
Not long afterwards, in May, 1873, he
passed a civil service examination so
successfully as TO secure an appoint
ment in the treasury, where he has
since advanced through the ordinary
course of promotion.
Bank In Treasury.
Under the mana cement and control of
treasurer McClung is the sO-calIed CASH
ier's office of the treasury, which is q
big bank. The cashier Of the bank is
Edward r. True, who is another of the
permanent cog-wheels of the govern
ment machinery. Born in North Var
mouth, seven miles from Portland, Me-,
he earned his first money as printers
devil Later on he learned to set type,
and, after serving an apprenticeship in
the Rockland Bank Ga state institution
he got job as paymaster'S clerk in the
war department at Washington.
From the war department he went to
the treasury. where he was appointed an
assistant paying teller in 1864. From
that humble position he has risen
through all the ranks, and now has
charge of all the local financial busi-
ness for the government at the national
capital.
Redemption of Money.
The redemption of worn out money,
both paper and coin, is a very import
ant part of the business of the treasur-
er of the United States. He is obliged
TO replace in this way an average OF
s1,500,0OO to S2.O00,000 a day. When the
old paper currency has been duly
counted in his office, the notes are cut
into halves, one set of halves being
sent to the secretary of the treasury.
and the other set to the register.
William T. Vernon. The two sets of
halves are separately reckoned, and
must agree.
Government Bonds.
In addition to this work. the register
has charge of all the bond issues. All
bonds of the government bear his
written signature-not a fac smile, like
his name on the left hand lower corner
of the paper currency, but his personal
In his office are made out
all transfers of bonds; and each month
he sends to the treasurer a list of the
persons who are entitled to interest
CHECKS All coupons cut from ponds OF
that kind, after being redeemed. are
sent to him, to be carefully put away
and kept.
Metal Money.
The man who makes all the metal
money for the government is A Piatt
young fellow hardly more
than 50 years of age. who nevertheless,
before he came to Washington, was a
professor at Harvard. Political economy
and finance are his special study. He
comes from La Porte, Ind.
The all-powerful senator Aldrich
formed a high opinion of him, and
caused him TO be appointed a member
IL the monetary commission, and last
summer he was made director of the
mint. AS such, he is general manager
IF all the mints-a pretty big job, when
1ne considers that during the last
year the four of them. at New Orleans,
san Francisco, Denver, and Philadel-
Dhia, turned out S,411.457 gold pieces,
., 9S2,350 silver pieces, 1159O,526
lickels. and 117.6s6.2s3 cents, all of
hese representing total coinage of
s9S,621,14S.
Rene Bache.