The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-10-03

TIE NATIO Ns CASH ROOM
BY Frederiic ]. Haskin.


handled more actual money than any
other man who ever lived.
Major Quaifte took charge OF the
money vaults where he now presides.
in 1854 He stands at q high table in
small, low ceilinged. steel lined
vault, literally surrounded by mil
Hons.
The paper money Is received from
the bureau OF engraving and printing
in packages the size OF eight inch
cubes. There are 1000 bills in each
package. The values Of packages de-
pend on the denominations OF the bills
they contain. II they are one dollar
bills aa-pRckage OF them Is worth
$4,000. while II they are twenty dollar
bills 1t is worth $50 900. There Is one
prize package which is made up Of
ten thousand dollar bills and there
fore worth $40. 900: 900. A few people
who have Influence at court may get
into vault number twelve, may hold
this twelve pound package in their
hands and attempt 10 think in the
terms Of the wealth 1t represents.
The cash vault has two decorations.
One of them is little frame which
contains two ten thousand dollar bills
and one five thousand dollar bill. The
idea is to show the curious Just how
these biggest denominations look, as
few people are ever likely to see, let
alone possess one Of them. One of
these ten thousand dollar bills is a
curiosity because 1t is a greenback no
longer in print. This isS the only place
in the world where one OF this issue
may be seen.
The other decoration hanging on
the door jsl Is statement Of the
amount of money Major Quaiffe has
handled during the various years Of
his service.
In the first year as vault clerk he
handled $165.7S0,0 600. That was in
1884. Ten years later the flow of
money through his hands had In
creased to s241, 09S, 900. BY 1904 the
amount had grown to $637 ,023, 900. An
o.her decade registered an equally
surprising increase in the funds that
were passing through the nations
cash room. They passed the billion
mark in 1913, during which year Major
Quaiffe, in his little cubbyhole, direct
ed the course of $1,04f 000, 900. This
is the measure of the growth in the
use OF currency in the United States
in a single thirty years.
1t is withal a considerable business
that Uncle Sam does in transacting
the affairs Of the nation. He has $500.
disbursing officers who are authorized
to issue checks against this, his CEN
tral bank. These orders are issued
against the treasure house at the rate
of 10000 a day.
In the matter of pensions alone.
$3.50. 900, 200 a year is paid to old SOL
d!ers scattered about the country. all.
of It coming from this little cash. room.
For the multitudinous task of distrib-
utsng the mails OF the nation there are
100000 checks a year issued in pay
ment against this. thas bank Of the
United States.
There Is in circulation among tns
people OF the United States today
ST. q. 900 900 in gold certificates. The
pubic is unlikely to pay sufficient at
tention to its paper money to know
which are gold certificates. which are
silver certificates, and which are Unit.
ed States notes. But there are out
among the people more than billion
dollars in gold certificates for which
there is deposited in the treasury the
actual gold money for its redemption.
Then there is out among the people
$474. 100000 in silver certificates. and
silver dollars are held here for their
redemption. Finally, there are ont
S337. 900 900 OF United States notes
RMS paper was issued during the
Siyil war and had nothing back of 1t
put the governments promise to pay.
AS there seemed no reason for not
doing so, the government has contin-
ued for fifty years to use this extern
sion OF Its circulating medium. But
IN order that this currency might he
placer on basis of greater stability.
congress some years ago put aside
$lov,OOO.O00 in gold to guarantee II.
These three classes Of paper money
with that which national and reserve
banks are allowed to issued under
their own names, make up the total
or paper money in circulation.
with the exception OF the notes Is
sned by the banks. all these come
through the treasury cash room. Not
only this. but when bills get soiled or
Worn. they may be sent TO the treas
nry and new money will be issued IN
their stead. This new money. issueti
IN lieu OF old, passes through the cash
room and contributes to the con stant
s. Of wealth that flows through,