The Birmingham age-herald., 1924-03-28

00N -cOlumu 10
 Ss3ss5<s Ing what allowance q m6de for lost or destroyed money. 1t Q interesting 10 note that after tho great Chicago fire of 1871 the govern- ment calculated $1 ,000,000 Of United states notes was destroyed In the sub- tFsssury building in that city. And It mate of our totaI stock of money.
 Allowances. have been made sfof the loss or destruction of fractional cvr-
 me government figured that ss2eoo Chicago fire. The government also recfons that . total Of $13. .21e o0o. .4B Of emalI chahKe has been lost or destroyed xhils in the hands of the piiblic.
 4Aere ss. of course, q considerable amount of nhofey tied up sir reserve sgainst gold and silver cerfiffcatess But the reserve held hys the governrnenf &E1inst: the United Stat{s notes is fixed by law. and does not fluctafate accord- ing 10 the volume of notea nomirally
 United States notes were first issued In 1882. The total authorized was $45O,- 000 900. By the first month of 1864 [prnctieally all were issued 44e. .ass ,S02. e1tF x Soas M o9v A11o Aooo e1ztA t0tez WzS re-
 NO change took place untii after the terTibie panic of 1873, when $26,000,000 # Of notes were re-issued After re- demptipn of notes was resumed in 1875 the total was reduced, by 1e7S. to $346, s6l,o1d: It has remained at this figure
 The gold fund held by the treasury For the redemption of theae United Estates notes isE liked by law at not less than s1oo' '0oo, 900. Therefore,, no change IS made on account;of uote& which may be destroyed. Along h. 1890 treasury notes amounting to $i55, ,sa1 ,002 were is- s1sd h payment for Ailver bullion pur- chased by the government. The law. vides that treasury notes redeemed h silver dollars must be cancelled; :; also as the bullion originally purchased by ne issue of notes Is coined into silver dollars, and subsidiary silver coins, sn equaI amount Of notes must be can ceiled and retired. As e result, less than million and haig of the $z6S. . s31 ,00z issue Of treasury notes remained existence, Lest year about sz2,000 showed up and were put out Of exist snce.
 These figures indicate that not 50 Every many of these treasury n0tes were ost or destroyed. As a matter Of fact, few more come into appearances every month and are taken care of.
 # But this question of lost or destroyed money becomes more Important when, any particular kind of currency is with Drawn or discontinued, as In the case pk demand notes interest hanrinw notes znd fFae2tgzial etarrunts. \ -7
 The first paper money issued by the United States government cpnsIated of Remand notes. This was m 1861. These 1emand notes were rsdeeinahle in gold. aotes were substifuted for demand aotes and the latter vera cAnceIled whenever presented. By June Sc. 1884. 69, ,24O 30 had heen reaemna6d Of ths otal issue aof se0. .O90. 900.
 You may have heard someone re- nark Lilze 2 bad penny. I'm always urning up. During the year ended une 30, 1918, $40 of these old-tizne de- nand notes showed up and were re- ieemed. Since then none has Appeared.
 The government no longer regards he balance, $58.012.50, as circulation. *,ut has classified the item aa natured, ebt bearing no interest. This allows hat flaw of these demand notes were cst or destroyed, even though they were issued and in circulation during gartimc.
 During the years from 1888 to 1876 ractional currency was issued 10 sup oly the lack of small change caused py the diSappearances of coin conse- auent upon the suepenSicn Of specie payments. By 1921 very little of this FacttonAt currency was being offered or redemption. The amount Unaccount- bd for was about $15, 900 900. The gov ernment figures estimated that about l6 900 900 must have been lost or de.i 4 troyed, apart from the $B2 O6D Vvlilch was estimated: to have been destrnved n the Chicago fire. X M The treasury put down s1, ,9ss ,31Os0 ap he amount Of it's debt under this frac- icnal currehcy head. It is interestirx note that these small notes sshin- edemption: &6Se.6g, s9a2 z9 ana Sees s2 5 were the amounts retired during t.ss ast three fiscal years.
 Three other forms of obsolete cur- ! ency also appear on the governuaent's lebt statenent, namely. S15f.e40 fnl. i Compound interest notes, so .aO0< for olse.s rear notes of 1888 and $2s zoo Tor 4yvs- rear notes of 1888. Small aiaaounta of hese are stiil offered For redefnnfioS{ No deductions for loas or dsstrsotion Pf these forms of currency have been
 From the facts given here and the acts given in yesterdays column it would appear that people hold 2 onto heir money rather carefully. ana fhaf hey do not let. much of it blow info he fire or into sewers. More careIess- Ress would seem to be shown by peo- pie who deposit money in savings banks snd never return to get 1t,
 Many, many millions have beef, iaff unclaimed by savings bank dcpositors. tCcpyright, 1s2z' by B. c. Forbes)