Evening Republican, Volume 14, Number 79, Rensselaer, Jasper County, 2 April 1910 — BURNED PAPER MONEY. [ARTICLE]

BURNED PAPER MONEY.

Source of Great .Profit to the Gtrverament and Soaks. At the redemption -windows of the treasury and of the subtreasuries of the country any silver coin that has not been mutilated willfully and which still is recognizable as from the mints of the United States will be redeemed at face value, this in spite of the fact that the silver in 'the worn coin may not be worth half its face value. As to -gold coin, the government 'stands only a small portion of the loss from abrasion; but, according to weight, these worn gold coins always are redeemable. In the case of the paper currency two-fifths of a note must be presented if it shall be redeemed or a new note issued," and no matter what the evidence may be as to total destruction of this paper currency, the government regards it as the holder’s individual loss with which it is no further concerned. Fire may melt SI,OOO worth of silver coins and it is wprth its metal value. It may melt SI,OOO in gold coins and the mint will pay SI,OOO In new twenty-dollar gold pieces for the mass. But the ashes of SI,OOO in paper currency is without value. In'the thousands of fires over the country every year involving office buildings, factories, business houses and family residences an untold total of legal-tender notes of all kinds are destroyed. Every piece of such paper lost is loss to the holder and gain to the government or to a, national bank. It is a promissory note hopelessly lost to- the holder: It Is etfen more, for in many cases an individual man might redeem his debt obligation If he were assured by the holder of it that the piece of paper to which he had signed his name had been destroyed by accident and by no chance could turn up again against him.—Chicago Tribune.