The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-03-05
Took Three Weeks TO Check Up
Funds in the Treasury.
FIRST Time IN TWELVE YEARS
Special committse Of Three, Assisted
by Eight Accountants and is Ia
borers Required to Count Three and
q Half Billion Cash In Vaults In
wsshinston-count Made Necessary
by the Retirement Of John Burke az
United States Treasurer.


the first time In twelve. years. The
total Appropriated $500, 100000. and
included all cash and securities held
as reserves against currency Outstand'
ing.
The count was made by special
committee of three, assisted by eight
accountants and by fifteen laborers
who we're used to move around the
heavy sacks OF gold and silver. The
men delved into great vaults In the
treasury building and took stock OF
gold. silver and paper money and Sc.
curities, many OF which had not seen
the light OF day since shortly after
William Howard Taft was inangurated
President and a new treasurer OF the
United States appointed In 1000.
Guards "sit on Lid"
The accountants In entering the
vaults passed grlm-visaged guards who
day and night, "sit on the lid to pre-
vent any possible attempts Mt an UNI
authorized raid on the treasury. The
vaults themselves are supposed to be
burglar proof and are OF massive con
crete and steel construction. The
storage sections are kept under seal,
and this was the first time that some
of them had been opened In twelve
years, for when John Burke became
treasurer, after President Wilson was
first inaugurated, he accepted the
count OF cash in the storage sections
which had not been opened since the
previous count In 1909.
The accountants handled money OF
every possible denomination from the
lowly copper TO $4,000 bills. Many of
the bills, particularly those OF the large
denominations, such as $1,000, were In
sheets of four each and held as reserve
against currency OF smaller denOmlna.
lions In circulation. ThOusand-dollar
bills In circulation are few, and each
bank In the country is kept supplied
| by the treasury, with list of them
with their numbers, so that II per.
chance any are extracted from the
treasury Illegally, the holder will have
! extreme difficulty In realizing on them
| Counted by Machinery.
| The count just finished was made
necessary by the retirement of John
| Burke as treasurer, and was conplot;
| ed In the remarkably short time OF
| three weeks through the use OF electric
| counting machines. Loose coins passed
| through these machines instead OF be
| Ing counted by hand as was necessary
| In the olden days. Paper currency wns
counted by the piece, but stored cOinI
and currency were counted by the sack
or package In cases where the wrap
pings were unbroken and the seal on
each intact.
The main supply OF the governments
money Is stored In two large yaults
but there are a number Of smaller
ones In the various divisions OF the
department as well as In the cash
rooms where cash payments are made
by the government.
Gold coins stored In the vaults we're
counted by weight. The gold Is kept In
sacks, sealed with the treasurer's wax
senl and containing 5000 each, weigh.
Ing about eighteen pounds and seven
ounces. First one sack was weighed,
and then the others were examined. II
both the seal and covering were found
intact, they were weighed against the
FIRST or test sack, and II the result was
the same were passed and counted
However, II seal was broken or the
sack torn, or there was appreciable
difference In weight, the contents were
counted by the piece.
Dollars Counted by Weight.
Standard silver dollars were counted
In the same way as the gold coin
They are stored In sncks containing
I 1000 and weighed about sixty pounds
Work on the silver coin was lessened
officials said, by the governments
melting 100000, 600 silver dollars under
the Pittman act for sale to the British
government to relieve the silver
famine In India during the war.
Paper money Is stored IN paper
packages, making a cube OF about sew,
en- aud half inches each way and
containing 1000 notes. On each pack
age Is stamped the amount and the
denomination OF the notes inClosed. A
wax seal Is attached. Except where d
broken seal or package necessitated ar
actual count Of the contents, the paper
In the vaults was counted by the pack
age.
Sealed packages Of paper money ar,
accepted from the bureau OF engraving
and printing ms correct when the wrap
pings are intact, because the issue di
vision OF the treasury maintains an
Office In the bureau and In reality
counts all the paper money before Il
leaves the bureau.
Coins of smaller denominations
quarters, dimes, nickels and coppcrs-
stored In sacks were counted In the
same manner as the silver and gold by
taking the weight Of test sack FOL
each denomination and weighing the
other sacks against II.
Receipt Exonerates Treasurer.
Upon completion OF the count. tbs
storage compartments Of the vault