Rensselaer Republican, Volume 17, Number 38, Rensselaer, Jasper County, 28 May 1885 — Mutilated National Bank Notes. [ARTICLE]

Mutilated National Bank Notes.

[Waahington special.] Treasurer Jordan has made a slight change in the working of the national bank redemption agency, which will' result in some, reduction of expenses —how much remains to bo reen. The Treasurer of the United States is authorized bv law to redeem mutilated, rational bank currency. It has been eeitoinary to construe -the word “mutilated’’ liberally, and bills not mutilated but considerably worn have been sent tg the Treasury, new bil s returned, and the old ones destroyed. Mr. Jordan construes the law more strictly. National banks have been asked to send in only really mutilated bills, and when bills that are still I serviceable are sent in new bills will be I issued in their places, but the old bills are to be paid out by the Treasury. It is not expected that this will make much difference with ih - number of persons:employed in the redemption ag.ncy. but it will probably reduce the amount of work required of the Rureau es .Engravtoe imd-I’xintingi but it will be some time before this result becomes ajiparent. This policy is the reverse of tlial pursued by tno Bank k of England, which never pays out the s-anie note twice, no innto r how good its condition may be. Jordan’s action is based on the belief that the hw does not "authorize, the retirement and destruction of bills that are still serviceable. . ‘ Maj. Bcrke, the retiring director of the New Orleans Exposition, has suffered much in htalth from his work in that capacity, and is also said-.to have obligations to the snin of SI'SO,OTO. The Hon. John Bigelow is soliciting funds for the erect,on of a monument to William Cullen Bryant in Central Park. Mrs. Tom Tht'/18, now the Countess Magri, wears for shoes a child’s No. 5, and the Count wears a child's No. 8. i The Governor General of -.Canada, re--1 ceivek a salaiy es a yehx. -V ’’