The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1912-07-26
Some Interesting Facts About
JUNGLE Sans Money Business

The misfor;unes and the ne glec.
OF some persons yield large profits
t. the United States Government. In
the last monthly statement of the
public debt is an item, Debt on
which interest has ceased since ma
turity, $1,76O,45O.26." This sum rep
rescnts bonds which have become due
but have not been presented to the
Treasury for payment. They have
been destroyed or lost, or are held
by careless or Indifferent owners. The
Government of course, is ready to re
deem these bonds any time they are
presented, but while they remain GU i,
the treasury is saving about $780,
900 a year in interest. Some OF these
bonds date back before the war. The
latest of matured Government bonds
ceased to bear interest and became
payable July 2, 1907. OF these over
$500 900 are still outstanding.
All currency that is lost or de-
strOyed constitutes a gain for the
Government, unless the owners are
able, by satisfactory evidence, to
prove the destruction OF currency and
thereby obtain now issues.
A week rarely or never passes with
out the Treasury Department receiv-
ing for redemption number OF
packages containing money that has
been partly destroyed by fire or othe.
causes and in all cases where the
bills can be satisfactorily identified
new money is issued therefor; but
frequently only portion of the bill
remains and in the event that three
fiiths of the note can be identified
| the full face value is returned to the
| owner but if less than three-fiftEs
| can be identified only One-half OF thu
| value is returned. These losses b,
fire aggregate each year a very large
sum; but what has become OF tn
millions of dollars OF which there i
10 trace is an unsolvcd prohlem
Treasury OIL, ials speak OF great fir
trat in years past Eave Wcpt hit
80, san Francisco, Baltimore IN
other cities and estimate many III.
lions have been losi n hosa c9i.
decorations.
On July ! more than %5@eo.as'
il national bank notes were OF.
standing secured BY lawful money,
which means that the banks issuin'
these notes have deposited money il
the Treasury for their redemption
and retirement The Goycrnmcr
has the free use of all this money
Whenever any of the bank notes thu
| ~ uitu 'bIlit lHto tllt IiNdoui. Ni',
are cancelled and the lawful mon
cy" is put in circulation in place o
them. Many of these bank notes re
main i'm circulation for years afte
the bank which issued them ha
ceased to do business. Whcneve
such notes are lost or destroyed, tn,
Government gets the benefit.
Recently the National City Banl
Of New York published some interest
ing information on the disappearance,
CT Government bonds and currency
Early in the Civil War the l'nitct
States issued over $500. 900, 900 of lie
gal tender notes which were used il
payment of all Government obliga
tons. including the pay of the armie.
in the field At this time there ar
still outstanding over s3,00o,oo0 o
these notes in the denominations o
81 and 81 alone, which are neve.
heard from except now and then /;
stray bill or two is presented for re
| GcmptiOn. 1t is fair assumption
that a large percentage of the who'll
81. OOG 900 has been accidentally de-
stroyed, and this is undoubtedly pro.