Evening star., 1924-10-05

The Treasury Department of the
United States handles more money
than any other one institution or
earth AS the national tax collector,
as the supervisor Of the monetary
and banking systems of the Nation
as the conservator of the national
credit, and as the guardian Of the
financial resources OF the country
this department occupies a position
OF unique Importance. The Govern
ment is one vast business entity
and the Treasury is that entity's
purse.
The collection agency Of the Gov
ernment is the Bureau OF Internal
Revenue II has s. districts through
out the United States. Prior TO l9l
the relations of the bureau were with
a relatively small number of firms
and individuals engaged in specified
occupations. Within a brief period
after the declaration of war with
Germany, the bureau was trans
formed into an agency that reaches
millions of citizens.
The income tax today is the chief
source Of revenue. Approximately
I 7,000. 900 Individual returns are f1led
annually, not all of which, however.
are taxable by reason Of the exemp-
tions and credits. The intent OF the
tax law is that each person shall pay
in proportion to his income.
The most interesting part of the
physical work of the Treasury is the
manufacture of money. For this pur-
pose ii maintains an establishment
known as the Bureau of Engraving
and Printing in which an average OF
$11 ,000. 900 is printed each day. The
paper used is of the toughest linen
and is made by a secret process pro-
tected by statute penalizing its manu-
facture for other purposes. Supplies
of blank paper are guarded as care
fully as the finished money. for IL a
terfeiter can obtain this dis
tinctive paper, he has made a good
start toward producing spurious cur
rency.
The plates from which money is
printed are made with the most ex-
acting care. The public is not per-
mitted to see the engravers at work.
nor does any one engraver prepare
an entire plate. 1t usually takes
about a. year of continuous work to
complete one of the original plates.
The money never is printed from
these originals, but from duplicates
made by a mechanical process.
The, Great Money Factor.
One of the most thorough systems
of accounting in the world has been
installed to insure the Government
against loss during the process OF
printing. Out of the $1l,000,o00 OF
paper currency printed every work
ing day in the year, only one piece
goes astray in every three or four
wears. In such cases the Workmen
in the room from which the paper
disappears, even though all the ev-
dence indicates an innocent Ioss'
have to pay the printed value.
II REQUIRES about 20 days to COM
nlete the intricate process of getting
piece of paper money ready Tor
circulation, during which period 1t
is counted about SO times. 1t costs
the Government about L cent ana a
half to issue each national bank note.
Uncle Sam is the gamer every time
a piece of paper money Is lost, Tor
he will never be under the necessity
OF redeeming it with gold. He main
tains a force in the Redemption bu-
reau where torn. burned, or otherwise
damaged currency may be redeemed.
If three-fifths of a damaged note is
sent in. the bill may be redeemed at
face value; if less than two-ffths be
sent in. half value will be given.
THE seal which appears on the
paper money of the United States is
relic of the days antedatfng the
Constitution. The words abbreviated
are "Thesauri Americae Septentrio-
nails Sigillum" In English these
words mean. Seal Of the Treasury OF
North America" To those we'll in
formed in history, this tells Of a
time in American annals when it was
hoped that Canada would become a
part of the United States. The die
from which the present seals are
made was prepared in 1849.
The processes OF coming metallic
money are no less interesting than
those Of making paper currency
ANY one may take gold to the United