Decorah public opinion., 1913-12-03

at Philadelphia in 1898, and it was
quite a relief to our forfathers to feel
the weight of coins in their jeans af-
ter their experience with worthless
currency. However, in the war of
1912 paper money again appeared,
but the S3,00O,0OO issued was cetir-
ed as soon as possible after the war.
Again during the Mexican war,
1857, paper money was issued to
the extent of $4,000, 1000, and to re-
lieve existing distress there was is
sued $s7,OO0,OOO up to 1861.
However, the first real green
backs issued by the government OF
the United States, were authorized in
1851. These bills were called de
mand notes." and it was the first
instance that authorized bills of
credit or circulating notes were
made payable on demand for lawful
money.
During the civil war gold and sill
yer coins passed out of sight. and
were boarded by people, who, though
they might have had plenty of patri-
otism, were rather skeptical about
Uncle Sans paper money, ana pre-
ferred to store away the kind of
coin that had Jingle" In these
days postage stamps were pasted on
large sheets and used as money,
while merchants and other business
men contrived their own system of
due bills and l. o. us. There was
plenty OF that money, shin plasters,
and other questionable evidences of
debts in those days.
We were told at the Bureau that
the national bank notes last the long
est in actual circulation, and that
their average life is three and six
tenths years. Next come United
States bank notes with practically
the same life, while gold certificates
have record of two and One-Lalf
years, and silver certificates a little
more than one and one-half years.
The twenty dollar United Stace.;
notes have proved that they can
travel successfully about for nearly
six years, while the shortest lived
are the one and two dollar silver GER
tificates. = IS efsfa
'7''T III a1ofsrsst e re7s@S cs't
III q "a -. O.. /. .-sI r. n
States with paper" money have been
coupled with good deal of disaster.
and in an official statement we find
this sentence: only a rich and
growing country could possibly have
survived the panics of this country
and the losses due to unrestricted
and unredeemed paper money"
Strange as it may seem, China was
the originator OF paper money, many
centuries ago, but it is agreed that
no nation has as handsomeasa cur
rency as ours. 1t is historical that
issues of paper money, where the de-
mand has been large, have been re-
pudiated by all governments. Paper
money today represents real wealth
and is never questioned. Our pres
ent form of currency move the old
state bank notes out of circulation.
and there has resulted a paper cur
rency that is accepted without ques-
tion all over the world.
Director Ralph, who has spent
twenty years in this Bureau, coming
up from the ranks. said to us; "Fi-
nances. and not politics, have always
been the aim of this institution, and
the amazing results that you have
seen here have been reached because
the Bureau of Engraving and Print
ing has been made thoroughly
practical business institution. The
Bureau at Washington stands to day
as mans highest expression of skill
and endeavor to provide the means
OF circulating medium, safe, beau
tiful and durable.
N"".h hdo ucSu Sdlu ABOUT the pa
per employed in the printing of
bills, and in our visit to the Bureau
we were told considerable of this
distinctive paper" 1t is manufac-
tured under government inspection
at Dalton, Massachusetts,, in an insti-
tuition of which former Senator
Crane is the head. Someone, to the
writer unknown, has written the FOL-
lowing concerning the material OF
which bills are made: Its delicate
fibres have had varied history be-
fore receiving the government stamp.
The flax grew perhaps in the fields
OF Ireland. 1t was gathered, bleach
ed and spun, and woven by women's
skill. 1t may have formed at one
time dainty lingerie; it may have
been the garments of babes; it may
have been the confirmation suits of
children or the graduating gowns OF
girls. Loving hands have mended
1t, pached it, and finally sent it to
the rag bag. Its mission, however,
is not thereby concluded. BY a pro-
L -. III