Evening Republican, Volume 15, Number 178, Rensselaer, Jasper County, 29 July 1911 — Tons of Cash Fill Dock [ARTICLE]

Tons of Cash Fill Dock

Money Treasure on Pier Unguarded Because Face Value Doesn't Exceed $4 —Comes From Korea. New York. —Fourteen hundred tons of cash money was tossed ashore the other day when the steamship Seneca came alongside her pier at the Bush docks. Brooklyn, but no special police were on hand to guard the treasure, for the face value of all this money would not aggregate $4. The Seneca comes from various eastern ports. She takes out oil from New York and returns with a nondescript assortment of freight Coincident with the annexation of Korea, the Japanese government announced the substitution of Japanese money for the Korean coinage. The Korean banks immediately called in all the existing currency and the Korean mints started working overtime to make yen. The Korean, who is not in the habit of buying luxuries, seldom carried anything larger than "cash," a coin about the size of an American cent. A thousand "cash” were the equivalent of an American dollar. As the native scorns a purse, and as the women never wear stockings, the government thoughtfully stamps a square aperture through the center of the coin so that the native may string them together and carry, them around his neck. To the Korean mind that is both convenient and ornamental. In fact, the Korean society belle used to get quite worked up if her particular rival carried more strings of "cash” than she did. It was not long before an American syndicate learned that all the wealth of Korea was lying around in heaps.

and that moss was growing on it Negotiations were started and before long the tons of accumulated cash had been purchased and the consignment on the Seneca is the first shipment brought to this port The syndicate will melt the coins and extract from their the silver and the copper of which they are made. The silver and copper will be sold to the government whose mints will use them in turning <mp big sliver dollars" anc little red cents.