The Washington times., 1922-04-08
|NvEN TORY
Of BONDS
IS ORDERED.
Department of Justice to As.
sist in check-up Begin
ming Tomorrow.

Work of checking allegea dupli-
cation of millions Of dollars worth
of Liberty bonds in the Bureau
Of Engraving and Printing. report
of which was published exclusively
in last Mondays Times. will be
begun at 9 o'clock Tomorrow
morning.
The investigation of tha al
legged irregularities and scandal In
the bureau. which. it is stated,
resulted in the dismissal of the
twenty-nine executive heads, will
be conducted by q joint committee
of Treasury and Department of
Justice operatives. ....
Investigation Ordered.
Despite the emphatic denial Of
Treasury officials that there were
any wholesale duplication of Liberty
bonds and other irregularities in the
bureau, the investigation by the De.
partment of Justice operatives was
ordered last night and will be begun
In the morning.
Bureau superintendents and di-
vision chiefs were ordered to notify
all employees, except those selected
in making the Investigation. that
they need not report for work until
further notified.
Director Hill announced this morn
ing, In a statement 70 mis- division
chiefs, that the only divisions that
would be included in the investiga-
ton would be those in which paper"
in handled.
BY paper. II IL explained. the order
refers to only the departments where
bonds, bank notes. stamps and GER
tificates are being printed, gummed.
bound and perforated.
Divisions Involved.
These include the following di.
visions: Wetting, examining, plate
printing. surface printing, number.
ing, binding, stamp cumming, stamp
perforating. ink milling and amy
other related divisions that may be
found advisable
Department of Justice operatives
It Is pointed out, are not making
the investigation from stand
point of efficiency, but to uncover
the depth Of the scandal, which
1t Is declared, is prevalent in tho
bureau.
Hundreds Of millions Of Federal
reserve notes. millions of stamps
and bonds, together with receipts
for bonds and notes turned over
to the Treasury Department, by
the bureau, will be checked in an
effort to determine IL there is a
shortage.
Expect to Find Shortage
Officials confidently expect the In
ventory of the stock and materials
Of the bureau will reveal a short
age, the size Of which, however, is
a matter of speculation.
In Treasury circles II is generally
admitted there Is a shortage of be-
tween 100000 to 100000, due to
bond duplication, missing notes, etc,
but the officials declare II might be
more or mot 30 much"
Some idea of the magnitude of the
Investigation will be gathered from
the fact that there are alone $1,500,-
O00, 900 in Federal reserve notes, of
denominations Of fives. ten, and
twenties.
These are put up in sealed bundles
Of $4,000 each, and each bundle must
be broken open. checked and re-
checked. and then audited. There are
thousands Of these bundles OF Fed.
eral reserve notes, now in the vaults
Of the bureau and each note will be
checked by ak counters.
No Bonds In Bureau.
None of the bonds, the total Of
which. printed during the war. ar
gresates $4,000 ,000, 900 are now in
the bureau, all Of these being turned
over to the Treasury Department.
The method OF turning these
bonds over to the Treasury De
psrtment involves a double check.
the bonds going first to the Divi-
sion Of Loans and Currency and
then to the Registrar Of the Treas
ury. each signing a receipt for each
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