The Wingham Advance Times, 1926-08-05, Page 8;IFI 7„ t ; 1. 11•!'''
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Notes and Certificates of Reduced Size Soon
to Be Issued by the Treasury — More Con-
venient to Handle, and Will Last
Longer in Circulation —When
the. Dollar Was Born."
By RENE BACHE
OCKETBOOK manufacturers smaller plates from which the
all over the country have money is printed, less ink required,
been writing to the Treasury, .one-third less paper needed.
asking anxiously how soon the
"small' money" is going to be
issued. That Iasi is a mighty important'
o
The Treasury cannot say how Item. Paper for the currency
soon, because the requisite arrange-
ments have notyet been made. It
is coming, however, before long.
Many millions of pocketbooks
are sold annually in the United
States. The .manufacturers are
obliged to get them out a year in
advance of the retail market. That
is why they are anxious. For the
small: money will radically alter
the character of the demand for
their product. Billfolds and pocket-
books With ' which • billfolds are
combined, will no longer be wanted,
inasmuchas the new paper, cur-
rency wiltfit,. fiat and unfolded in•
an ordinary wallet'
'the
are to be only six 'inches long 'anybulk•
, and :weight by one-third the country. Out downand there.
two and a half inches, wide. They y
note_ will be a big saving.
will fit easily into an ordinary
Way,Experiments made with bank
paper envelope; which, by the ton'
will be quite a convenience, The clerks and 'tellers in Washing
have shown that paper currency of
paper money now in use is- seven tem Istel does not
and one-third inches long
and the• size con P
three and one-eighth inches wide, cramp the fingers, in the counting
e of it, as do the bills of now.
Which means that the new paper
dollars 'll be onlytwo-thirds the These trialsweremade in a very
a wx
carried fiat,Practical way, -• with Philippines
Present ` size. Beinghi i rinted
and not folded, • they will have a paper money, all of which is.printed
'much longer "life." . It is reckoned
at the Bureau of Engraving in
h Treasury that they will last . Washington, 'That currency` is of
byt the y- the exact proposed for. United`
at least. one-third longer in circula
tion.
States notes and certificates, six by
Hence there will be only two -
proved in all respects satisfactory
thirds as many bills to be re-
in our Asiatic achipelago.
deemed each year as unfit for
e. That will save money. • New Bills For Old
further use. That
But in -.other ways there will. be ° When the "small money" is is-
Saving On Paper Cost
costs the government nearly • 81,-
600,000 per annum. Cut that bill
down one-third, and there is a
saving' of close to half a million
dollars yearly.
It costs the government one cent
to print a paper `dollar and put it
In circulation. The paper used is
of the finest quality. made .from.
the best linen rags that the rag
market affords. There is sone
cotton in it,. because otherwise it
would be too hard. •
Five tons of paper currency' are
shipped out of Uncle Sam's money
factory M Washington every week-
day in the year. It costs' a lot to
The new notes and certificates.
distribute ' it by express all' over
:
saving: Less engraving for the sued, there will be very little
trouble because of two sizes of'cur-
rency in, circulation. Great .quan-
tities 'of 'the"newnotes and certifi-
cates
cates will 'be prepared in -advance,•
to be exchanged 'for, old ones' at
sub -treasuries, .banks, and other
financial establishments.
At the: present: time the currency
in circulation amounts to $41.73 for
everyman, woman and child in the
United • States.' "Ever"y • now 'and•
then the newspapers print' a state-
ment. of that'kind, with a' headline
saying;•"Haveiyou'got your share?"'
Whereupon thousands of : people
writeto the Treasury Department,
asking for "their. share." It is
really very funny,,'
There is only one piece of money
that the people of .this country do
•
not seem to ,want. It is• the two-
dollar bill. They think it is un-
lucky. Many persons will not ac-
cept one if they, can help It,
Various reasons have been given
for the bad luck supposed to'attach
to a two -dollar bill, but the true
explanation is offered by a man
who is in a position to know. Ile
is thecurrency expert of the U. S.
Ti5/.' c5'�/./vr E.9Y/ ��" �`/Y'GJ%�f/!�./YG ./!Yl�l!•9?i5!�%YG-
Bureau of Efficiency, . William
Atherton . Du Puy.
• Pirate Superstition a
It is `a part of that Bureau's job
to devise ways /or making the: cur-.
rericy''flow freely, and thus it was
that' Mr. Du L'uy,was_led:to;'a.spe-
cial inquiryon the subject of ;the
two -dollar, bill.
"People object .to - two -dollar
bills," `he said, "because the pirates
of the Spanish Main;. centuries ago;
disliked' money of 'that • denoinina-
tion.
"The idea had' its origin et a
period' when we^had •no money of
our own. We were English colonies,
but England had `so, little coin for
her own use that she' could not
spare us any. So we used wampum
in New York and tobacco in Vir-
ginia.
"Those were the palmy days of
Spain. She had beefs getting vast
quantities of silver from Mexico,
and she had plenty of coin. In. the
English colonies of America coin
was, at a premium,' and so it came
about that much Spanish metal
money towed in their direction.
More Spanish , coin than 'English
circulated in the colonies.
"That is how we came, to use
dollars . instead .of the English
shillings ' and pounds. Ou•r'. dollar
is the old 'piece of eight' so often
spoken of in pirate stories.
"The 'piece ofeight' was a coin
of eight reales or bits. Our dollar
has eight bits in it;: which is the
reason why we • sometimes speak
of 'four .bits' or 'twobits' in reck-
oning the price of a, 'thing.
"In the old days there : were
'pieces of six,' `pieces of ten,'
pieces "of twelve,' and even 'pieces
of thirteen,' ,The piece of thirteen
was a huge silver .coin, about equal
in value to the Englishten-shilling
piece,, Which was worth approxi-
mnately two dollars.
Chests Of Silver Money
"When piracy was ' in flower
these pieces of thirteen were in
general circulation, . and many of
then found their way to the West
Indies. Chests full of them were
transported by ships which on
some occasions were captured and
looted by freebooters.
"Theirates though. greedy, for
n g
money, did not like _feces of thir-
teen.
p
teen. People had mistrusted that
nuhiber ever since the Last Supper
and the betrayal of the Saviour by
Judas. Those sea -wolves were 'ex-
ceedingly superstitious, and •'it is
said, whether truly or not, that
many 'a ghest of the ' two -dollar
pieces was thrown overboard, in
sheer fear lest possession of them
invite 'misfortune.
"This idea • about . two -dollar.
pieces, 'that, they were' unlucky,
spread from the West Indies and
the Spanish Main to our Southern
States, and thence. to the :North.
It •now prevails everywhere in this
country, having transferred itself
to the two -dollar 'bill, :Many a
man, if a bill of that denomination
bepaid to liim over a counter, will
hand it back.
"On the other hand 'there has
never been in this world a:piece of
money so popular as the American
dollar bill. From Uncle Sam's
'point of view, it is even .too much'
liked. The dollar- bill, passing' con -
•
stantly from hand to hand, is soon
worn out, and to replace it with a
new one costs something.: Indeed,
the tendency to' the use of more
and more dollar bills is rather re-
markable. Ten • years ago forty
per cent of the total paper money
in circulation in this country was
in the shape of one dollar bills;
today it is fifty per cent,
Tale Of The Dollar Bill
"There are always - about half a
billion dollar bills . in the pockets
of the people of the United States.
Onan average, they last a'; year.
If the story of .the adVentures of a
single dollar hill could: be •,known
and told, from_ the time it is issued
fresh and .crisp from the Treasury
to its return through the banks
for redemption, soiled and perhaps
ragged, the tale would be a thrill-
ing' romance. Rich man, poor
man, beggar man, thief; shopgirl,
flapper, actress; bootlegger -thou-
sands of persons handle ; it and
pass it on. It knows no rest.
follows that the government
is obliged to print half a billion
dollar 'bills each year, toreplace
those, worn out. Those :bills, 'man
ufactured in a twelvemonth, would
weigh seven 'hundred and fifty
tons. It .would take a train ' of.
twenty freight: cars to.. carry the
annual output, which would carpet
a road five feet wide from New
York to San Francisco. There are
today seven times as many dollar
bills in.circulation as in 1900.
"The dollar is today the dom-
inant money unit of . the world.
Everybody uses it. Yet there are
few who have any idea where and
'when it first came into existence.,
"It was born 'way back in 1616,,
In St: Joachim's Thal, in Hungary.
St. Joachim's Thal was a valley
over which ruled, in ,those feudal'
times, the noble and high-born
Count of Schlitz.
"The Count discovered a silver
mine on his property, and, k ow-
ing a good. thing when he s'a it,
he, put his serfs to work and o,
ceeded to develop it. ' Ore fr in
the mine was smelted, yielding;
ingots which were converted into
coins.' In short, the count set• up.
a mint, and on the face of each>
coin he stamped a portrait of St.
Joachim, the patron saint of the
valley.
"In honof • of the saifit and
the valley, he called his coins
'jpachimsthalers,' and,metal
money being rather scarce at that
period, they soon found wide eir-
culation, ,becoming current not
only in Hungary but also in Ger-'
Many. '
"In Germany the name shrank
to 'thalers,' ' a term still in use.
When thalers reached Holland they
became 'dales's,' and, arriving in
England they were called dollars..
"For a ''century before .4 aaricans
began to make. their owetal
money the word 'dollar' W. used
as a name for coins of seve a Eu+
ropean nations which had approx-
imately a certain value. Thus -the
Spanish 'piece of eight' was called
a. dollar by the colonists, who 'when
they became a nation made it 'the.
basis of their currency system. '
Warehouse Receipts For Coin
'For eighty years after we began
to have money of our own man-,
ufacture' dollars were mostly silver.
There was no . paper money issued '
by the . central government. Life '
was much more simple in those
days, and the currency needs of
our ancestors were so limited that
silver served their purposes' well
enough. Even as late as the Civil
War it was quite customary for a
well-to-do gentleman to fare forth
on the first of the 'month in his
carriage with bags of jingling.coin,
to call on his creditors and pay
their :bilis: .
"Later on. we learned the lesson
of paper money redeemable in
'coin.It was not until we had
mastered that principle that 'hard
money began to be replaced by
paper.. Expansion of business had
by,that time made. silver unsuitable
for its transaction, becauseof the
bulk and weight of the metal,
"In 1878 Congress. passed a law
saying that any person who owned
'silver dollars might deposit them
in the Treasury and get warehouse
receipts' for them: These receipts
are still given, taking the form of
what we call 'silver certificates.'
Our one -dollar bills are mostly.
,silver ,certificates.
"Back of every. paper si ver
certificate is a minted •e Iver ,
dollar stored , in ; the Treasu ` y for
its redemption. The piece pa-
per is a warehouse, receipt,, hich
can be exchanged at any ti for
the oin it re esents e
h c pr n It is the
actual silver dollar that the pos-
sessor of the certificate owns, and
he can get it whenever he wants
it."
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/r'�G/^lss�• f�..5E/Y C''/.//%Ti��Y�"C�•,
Research and Exploration Have Revealed
Specific for DreadDisease— Remedy Found
in Heart of Jungle After Long Hunt.
By FRANKLIN . JOHNSON
�.NTIL recent years a diagnosis of Christ. In ancient Egypt: the
of leprous infection has been
equivalent to a death warrant,
with banishment frons civil-
ized contact as the inevitable por-
tion of the sufferer who lingered.
Today's patient has the prospect
of possible cure and a return to
his former surroundings. The
leper camp is no longer a place
of living death, in which all hope
is abandoned. '
The extent to which cures have'
been effected is indicated by the
records: for a recent period of ap-
proxirta:tely two years, • during
Which 142 patients were paroled
,frons the leprosy hospital' in
Hawaii, with no relapses reported
at the end of tho period. A single
month of this stretch: of time saw
the release of 64 patients, an the
medical finding that they were no
longer a menace to the public
health,
Once Principal' al' Disease
In the lightit of history
the emod-
.
rn record !struly remarkable.
encral thing leprosy has been
Astig
considered incurable, and the death
e tremendous. Eminent
tollhas been
authorities .hand declared that the
ailment was the principal disease,
i middle -age
, ,Chrlstendorn,' and
0
het its ravaged dated back tsar
period 15,00A year before the', birth
scourge was extremely prevalent
among, the people living in the
valley of the Nile,
More modern times have seen
the disease widely scattered in
Asia, Africa, the West Indies, cer-
tain parts of South America, and
sortie of the isolated regions of the
European continent. At o'ne time
there were 'O6 religious hospitals
for lepers In Great Britain' alone,
These were, abandoned in: the fif-
teenth 'century when there carne a
remarkable diminution',' of the
scourge. -'
America's chief Interest in the
disease came through the Hawaiian
Islands into .whlclx area the infer
tion Is supposed to have .been irxi-
ported by Chinese ltninigrants.
Prior to 1848 the ailment was un-
known in the islands. Within less
than 20 years the tiumber'of lepers
had' risen to 280, and by 1882, 34
years after its introduction, the
disease had 4,000 persons marked.
at Its victims. In addltien to'this
condition
in Hawaii, tt
e United
States has had some distributien
in its continental territory. Lepel'
colonies ate maintained by the
Government in Louisiana and
IYawaii,
e a i u
The p epic of 'India„ r huh,.
n,.
dress of years fled known some-
thing of the etirtitlVo value of the
G ...4.9r/G/700GiP�9 7/rtse41
�rq/p,47,YraG.c,-ass
oil produced by, the scattered trees
known, to science as. Taraktogenos
kursil, The Oil' itself was known
as chaulunoegra, long used in crude
tasltlon by the natives,of the Fast..
;Indies, through -local application
or Internal dosing, Government
investigators sought more 'direct.
methods' 01 ' utilization and lis
Covered them in the form ,of, in
lectiOns torted into the muscles of
the patient. From this •diarover'y,
dates the modern „effectiveness af'
the ohaulnlool;ra oil as a cure for;
leprosy.
Yrs
studying 'the suhj et e ofin-
jection,'
jection,' the'first' goal of • th.e stleh
tilts Was to determine which of
the constituents ofch.autmoogra, dil
poeeeI1ied aefnite',. V&lUe ; fn" the
treatment : of the disease. To
achieve this.,knowiedge. they split
the substance into its '.component'
parts, and isolated the various ele-
ments, The work along this line
was done by" .Dr, Frederick B.
Rower, now. a laboratory worker
in the United States Bureau of
Chemistry: In.Spiitting the ell Dr.,
Power discovered a marvelous
Crystallines acid from which he
lvt are •1n ,own . as
re aced 'what c
p n
'ethyl esters,"'the material Used in
tr'e ting 'sufferers from le ros
Y,
Experimental Work
'Armed with these esters --the
Public ,Y'Heaitli' Scrviee conducted
experiments at the leper eoiany' in.
t nt tud even
Ilawati;" Iyorsfs e s y developed
ped
the° effectiveness- of 'the :injection
0.47- C•:.Sf9G G
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method, .which overcame. the diffi-
culties' connected with the internal
appll<aition of ' an oil that had
proved itself, so nauseaing that
pattens could ould not retain it after
l c
The had been somal tlw d i
Te re-
sult of this discovery- has been to
enlist!, cl auimooli'ra oil to take its
lace in` the scientific world as the
p
standard treatment for iepiOsy',':
rtant truth dem-
ith this ireportant W p.
ont>ttrated the World ways confronted
with .the need for an adequate
source of supply, There •'are, said
More than twolepers
to be n million 1 pers
in ,Various quarters of the globe.
To insure p roduetien of the ell in
the q
required ualntities It was nec
q
essary that'eclenoe should promote
the cultivatiotl of the C au mooga li l. r`
tree an, ascale much greater than
that . re e entod the lin iced
pr s by . i
su 1 in Burma and Beh al.
pfl y g
Tho investigations pursued 'byt.
the United States Department of
Agriculture disclosed that there
was a small coinn'iercial trade in
the seeds', of the oriental trees, re-
sulting front the activities of a few
natives who collected the seedsin
the jungle and brought; them to
the centers of , population, • to be
sold in the bazaars' and. market
places. Some of, the products thus
bartered were the genuine article;
and others were not,. •
To overcome . the , handicap of
uncertainty,- caused by lack of
positive knowledge concerning the
seeds thus offered :commercially,
the investigators realized that 'the
wild -growing trees could not be
relied upon as the ultimate source
of supply.: They became convinced
that trees of the proper type must
he g,l'ewn as a ,plantation.crop for
the production of, oil before there
Could be any definite knowledge as
to source and ptirity.
I
In this way it Caine about "that
the authorities .commissioned Dr.
Joseph F. Rock to trace the ..trees
in their native environmentand
scould obtain cene that
t t d be used for
ro on Amer
P 1 ghagat ort i scan soil in
the Hawaiian Islands. Thetravels
s
of this scientist took him ,into the
remdte'jtitg1es of the Orient, over
a period several yeats
in duration,
Throtigh, Siam, through h. various
regions of southeastern Asia, and
iu stctlops almost beyond; paiiteatety-
tion, this distinguished botanist `.
pressed his search for the correct
species:.
r, ll4any False Trails
The wanderings of the scientific
expedition were' full of hardships
and disappointments. After a long
journey by houseboat,' canoe, afoot'
and on beasts' of burden, the ex-
plorers' were' apt to find; that;they
had been following' a wrong scent,
.and that the trees discovered were
not the true type which produces{
the priceless oil, but a „closely rem
sated kinsman _ that had many of
the family characteristics withou4
ability to. deliver the 'goods. Ex,
periences of this hind involved
,many hundred miles of wasted
journeyings through the jungles
and mountains of various parts oflt '
India and neighboring countries.
The first glimpse of the longi
sought trees was' achieved tail
I{houng Kyew; a small village 09
a :bend of the Khodan river. T1s
trees were tall, and stately, with
extreme: height of 60 feet. Th
growth covered the steep hill ides,
on an area no greater than ?i
40 acres, The limited growth, "pro-
ditced but a small quantity -of the
much prized seeds, and the Amer-
ican scientist ; determined 'to pro -
need further into the jungle; i
the hope .of finding the cluster o
huts known as Kyokta, 'a village
of thirty houses said to be close tot
the home of ,a large forest of the
trees. • ,
(s,envine 'frees Discovered
Five miles from Kyokta the
journey brought„ its full reward.
The sole means of approach 'was;'
by way of a creek bed which was
dry during the season at which the
Visitors appeared. Following this
channel, the scientist found the
banks 'growing steeper and steeper;
with changing character of vegeta-
tion, culminating in a dense growth
of Taraktogenos kurzii-the object
of the long continued exploration,
'The seeds cblleeted by Dr.. Rock
were sent to Washington and to
Honolulu' for germination and
propagation, The results :have
been highly satisfactory in ' produc-
ing several thbut;aria, trees which.
promise' a dependable supply of
Oil. 'Throughe'
g the activities of th
Washington statixoritiee there have
been donations of seeds to other
countries, with a view to
est
ish-a
ing Widespread c t vatton '.tho
is
rewth
The seeds grow in a fruit the
size of a large orange.' Extraction
theof
oil is aCcoinpllslted by means
of cruNlxng between rollers, stilet
the seeds have'' been dried in ill*
Mtn
4