The Waterbury Democrat., 1932-01-14
NEA Service Writer

Washington---Andre W. Mellon isn't treasurer of the United States. though countless persons are under that impression.
 Mellon is secretary of the treas ury, whereas the position of treas- urer of the United States--Which carries with lt custody of the na- tlon's gigantic gold reserves--is Major W. Q. Woods. Maybe his name is strange to you, but you carry Woods signature around with you at all times, except when you are broke, because his sigma turc appears on every piece of paper money Uncle sam issues.
 In addition to being the man who has custody of nearly one half of all the gold in the world just now---which has come about with the big flow of gold to the United States--MaJor Woods Is the man who signs the presidents pay check. Every month, includ- ed among the thousands of checks he issues, is the one he sends to the White House, by n messenger, payable to the president of the United States for $G,250--or one twelfth of $75,00O--to help keep the wolf from IIoover's door.
 The exact amount of gold--in coin and bullion--hcld by the treasury on q certain recent date was $3,557 44S.32d--equal to ap- proximately $29.50 for every man, woman and child In the land.
 But only u mere $5.000,000 of that huge amount in gold is stored in the big vaults of the treasury department building fin Washing ton. The bulk of 1t Is distributed as follows: at the treasurys New York assay office. $l,225, 5,00O, O,OOO; san Francisco mint, $1.226, 900, 900: Philadelphia mint. $585, 1000, 900; Denver mint, 4l2,OOO, 900; in vari- ous banks. $100, ,000; and small CT amounts in various government assay offices in the west.
 The coins arc In dusty bags and the bullion Is in equally dusty bars. This vast treasure Is scl- dom distributed, except when an occasional shipment is made abroad to re-establlsh trade bal ance. It plays little part in trade Itself; 1t Is merely the security for the paper money that repre- sents gold in the channels of business.
 See this?" said Major Woods as he drew a $l0 bill from his pocket. This piece of paper means that the owner thereof can get $10 in gold for 1t any time he elects to come to the treasury and demand 1t. The treasury has the gold dollar for dollar and will pay to the paper money holder without question"
 There are five kinds of paper money in current use, Major Woods explained: United States notes, gold certificates, Federal Reserve notes. national bank notes, and silver certificates. These sleeping hoards of yellow metal guarantee every note; sil- yer certificates are issued against deposits of standard silver dol lars for the convenience of the public, which prefers the paper to the heavy and bulky metal.
 There are in existence 540.000,- 900 silver dollars, of which 494,- 100000 are stored away by the treasury: 60.000.00O of these are held in Washington. At places where the government stores it's gold and silver the treasure Is so safely vaulted and so well guarded that any attempt at holdup by rob- bers would be futile.
 The government pays $20.67183 an ounce for all gold offered it, the price fixed by law. Thus, $5,000 worth weighs TIE pounds. while at AZ ton truck could haul away $5,0OO,000 worth. The bars of bullion, each about 2-3 the size of an ordinary brick, are worth approximately $8.000 each.
 if all the gold in the United States were melted into one lump, ordinary box car.
 The treasury issues paper money in denomination from Si to $i0,- often 10 settle bank cieariDgs and 10 facilitate cnsh real estate deals. It hardly would be good business management for h man tO carry a sI0,O0O bill around in his pocket, says Major Woods, since the loss Of Interest thers0n---at M per can't would be about st.is each day.
 The new i,000, ,O0O treasury bill, Of which tho public has hsaf6 h0 much recently. lnn't currency at aIi' says Major Woods, ft is \ govern. count, payable ~ fsee vsina ss mss