The Tucumcari news and Tucumcari times. [volume] (Tucumcari, N.M.) 1907-1921, 1910-05-10
BANK WILL RETURN
THE SOILED BILLS
washington Letter by Espey)

washington Letter Dy Espey)
Washington, May 7.--unclc sam, by
reason of necessity, has been forced in.
to adopting methods whereby the cS.
penses of th government are curtai.
ed His latest scheme, which il is
thought, will effect saving of from
100000 to 100000 annually, is &c
wash all currency issued by the Bu.
reau Of Engraving aud Printing that
finds its way back to the Treasury for
redemption. Heretofore all forms of
greenbacks' and "yellowbac ks have
been acerated after redemption by the
treasury department. Now, however,
il in proposd to vitalize some of this
currency so that it may be turned back
into the channels of trade, aud at the
same time be just as good as the new
paper currency which comes fresh from
the Bureau of Engraving each day.
While this latest Ilnn has not yea
been put into general use by the Treas.
ury Department, lis piaotieability has
'''h uthiphHtib''i NHt l'H duoBtiOu
matter of few months. The oh.
stacles which at present prevent the in
stallation of the system, are merely in
cidental, so that il is only matter of
short time before the recess of wash
ing old currency will form a part of
the regular routine of the Bureau.
The idea was suggested to Treasury
Department officials by Director Ralph
of the Bure iu OF Engraving and Print.
ing. lie detailed burgess Smith, a
chemist in his department 10 carry out
the necessary work IN peIfecting n sys.
tenn of laundrying 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
says that Uncle Sans present laundry
is not quite in perfect order. The me.
chanical equipment now installed does
the work but it is thought a more salts.
factory system can he devised. For
that reason Mr.. .Smi h as been ,Jid,
81 in "',grge Of tn. ex.m ,mental wo'k
AZ, nas been assig, IL 10 ork out, NOT
onh u practical sy>'Nn mt one thrt
will safeguard the handling of soiled
currency. The practical side of the mat.
ter, has, II in said, been attained, but
the other side remains to be develop.
ed.
In making the paper currency at the
Bureau a system of checking is EN-.
ployed which il as complete as hu'
man ingenuity can devise. Each die,
roll and plate has number in sequence
stamped upon il. Each employee re-
ceiving a piece Of steel 10 work on is
charged with the same until II il re-
turned TO the custodian Of the vaults.
In the Office Of the custodian com
piete records and the history Of 49,.
900 dies, 1890 rolls and $4,000 plates
are on file. Once year the custodians
records are checked by committee
from the Treasury Department, IL
usually takes three months To accom
plish the task. After the records are
audited all obsolete dies, rolls and
plates are eallci for aud ordered de
stroyed. The sane minute system OF
check obtains in every department of
the Bureau and ,ilJ' twice in the his
tory cf the corsiitui ion have plates and
unfinished bills been reported missing
As Il one dollar hill passes through
about 200 hands before II becomes le'
rai tender, a system ct checking Is
absolutely necessary The same system
IL is said, will not he required when tho
Bureau starts lauudr,iag currency.
While tho incentive 10 steal an un'
finished note is noc as great as II would
be to obtain a real note, IT is all the
more necessary that great safeguards