A TREASURY SKETCH. THE OUKRENO Y. MY A. D. RICHARDSON. ' Wakhihbton, Ang. T.O. The Treasury En eraiDg aud Trinting l'mreau preserves every known counterfeit thus far. There are thirty n greenuacKH; niiy on iracunnai currency; a on cold notes or bonds. Most are none retclicd; but two or three so perfect that they iecoive the very elect if heedless cashiers come within that category. The Ingenious fabricators make their new notes look soiled, worn and old before circulating them. It is easy to protect experts against counter feits The roasts find no safeguards infallible, .imply because they will not study them. The finest most elaborate engraving, and many difficult processes of printing on each note are ehief. The former requires time and skill; the latter, costly machinery, ample room, and therefore publicity. The minute little Troa orj seal upon our currency, with its key, scales, and mason's square, has never been successfully imitated. The most dangerous means of counterfeiting is photography. It reproduces every line with, absolute exactness. In the early days of the .Bureau, Dr. (iwynn, an old, ingenious in ventor, originated an exceedingly valuable paper to obviate this difficulty. In the midst of his experimenting he was suddenly arrested by Baker, and thrown into Old Capitol Prison, lie was kept there thirty days, without being allowed to see his accusers, or know the charges against him, and then unconditionally released. He never obtained any redress. Afterwards, James Brooks, on the floor of the House, alleged that the Treasury of the United states had become "a Louse for orgies and bacchanals." A Congressional committee, after two months' investigation, reported ex plicitly that the charge was utterly false; that it originated partly in the desire of "some" to ireak up the Bureau, and partly in a conspi racy between Baker and "the female prosti tutes associated with him" to destroy Clark's character, and thus shield Baker from the odium of Oywnn's arrest. Gwynn's paper was a sure protection against photography. Its water-mark of faint, sprawl ing lines, known as "spider-leg," nobody else had the secret of making. No known chemical Bubstance obliterated it without destroying the paper. One could barely detect its dim yellow lines by holding the genuine note up to a strong light. But all over the photo graphed counterfeit they stood boldly out, a oarse, revealing, jet-black network of spider Jegs. Moreover, the paper would wash! Scrub ling one of those 50-cent piecei with soap and water and then drying it with, a towel did not injure it in the least. Its body remained firm, its print clear, its bronze undimmed. Hence B. F. Taylor's extravagantly droll conceit of a wan putting off a dun with the excuse that his money has sot come back from the laun dry, or making out a list for his washerwoman thus: Btairts . 3 Handkerchief 2 Ten-dollar bills 7 Five-dollar bills 10 Fractional currency pieces . 40 He turn on Friday. For six months our small change was printed on this wonderful paper. McCulloch, on taking the helm, discontinued it, holding somewhat obscurely that to make its use the test of genuineness discredited the millions of former issue, upon ordinary paper, already in circulation. The inventor alleges that he has lost $150,000 upon it, but sooner or later it must be adopted. The last novelty proposed is to print notes upon a peculiar linen, bear ing a new and indelible mark, corresponding to the water mark of paper. It can only be woven on a Jacquard loom, which costs 120,000. It would puzzle counterfeiters either to imitate the mark or make the fabric; for inventing brains and timid capital compre hend that in the long run dishonesty pays poor dividends. Altered notes, more common than counter feits, are readily detected by looking through them at a bright light. Adepts are incredibly Bkilful at producing them. In Salisbury prison, with nothing but pen, ink, mucilage, knife, and bits of old notes, captives altered $2 greenbacks and passed them to Rebel guards as $20s and $r0s. In Charleston, with only writing materials and blank paper, a Yankee officer imitated Confederate fractional currency so cleverly that its genuineness was sot questioned. He had only coarse models to copy. But our $5 greenback, with all its delicate shades and involved ornamentation. was similarly duplicated by an officer in Libby l'rison with so much exactness that at first glanoe it was difficult to distinguish the spu rious from the original. According to Frank Moore's "War Anec dotes," early during the Rebellion, notes of a Pennsylvania bank bearing Buchanan's like ness became so disfigured by "traitor," and other epithets written under the portrait, that the bank was compelled to call them all in, and make a new issue, omitting the obnoxious iiead. Chase gleefully relates that in the ranks of a long-unpaid regiment in the field he found an old acquaintance, who did not recognize him until he introduced himself. Then the witty soldier responded, "O yes Mr. Chase, It is so long since we have seen your picture that I had nearly forgotten you !" Better still was the exclamation of the old darkey at Key "West. After studying long and perplexedly the features of the great Ohioian, a sudden in telligence gleamed over his sooty face, and he ejaculated, "Lor, mas'r, I knows you; you'a old Greenbacks I" Clark suggested the engravings on the hacks of our National Bank notes. "Ones" exhibit the Landing of the Filgrims, from an original drawing by White. "Twos" show Sir Walter Raleigh introducing tobacco, from an engraving owned by the Bank Note Com panies. The rest are from historical paintings in the great rotunda of the Capitol. "Fives" Landing of Colum'-ius, by Vauderlyn. 'Tens" De Soto Discovering the Mississippi, by Fowell. "Twenties" Baptism of Fooa hontas. by Chapman. "Fifties" Embarka- hontas, by Chapman. "I ifties" Embarka tion of the Pilgrims, by Weir. "Hundreds" Signing of the Declaration of Independence. 'Five Hundreds" Surrender of Cornwallis. "One Thousands" Washington Resigning his Commission all hy Trumbull. These illus tration! increase familiarity with our national history, guard against counterfeiting through their fineness of execution, and against alter ing because every note of the same denomi nation upon whichever of the 1700 banks, always bears the same picture. Now for a glance through the Bureau, at Its curious processes which we have been so long in reaching. Its various machinery is driven fcy thirteen steam engines of 300 aggregate horsepower. Some are marvels of mechanism, running with perfect smoothness and perfect silence-giants that walk with muilled feet, bat strike with iron hands. In the cool vaults of the lower story is the forreroom, where crude iron and steel come in Heit, the great machine shops, where THE DAILY EVENING TELEGRAPH PHILADELPHIA, THURSDAY, SEPTEMBER each powerful, Intricate apparatus is fashioned and repaired. This is thoroughly, distinctively American to invent, construct, and rnn the machinery, all nnder one roof. Near by, the ink factory, which tnnm ont a ton a week, in a dozen colors and shades. Busy, humminp little steam mills grind up the ingredients. The workmen who mix and measure them are rudimentary rainbows; their garments, faces, and bare brawny arms shine in black and blue, green and vermilion. Then the paper-mill. Clippings of the bindery and envelope room, and other waste of the Department, furnish its raw material. The supply always far exceeds the demand. Oreat vaults are stuffed with soiled sheets and strips, waiting to be made over again. Lives there an oilioial with soul so dead who never to himself hath said: "1 will expend un grudgingly the public supplies?" Here are enormous piles of new Internal Revenue books. each as large aR a Tribune volume, on costly paper and in solid binding. For slight errors in print or ruling they are thrown aside to make paper of. Ureenbncks destroyed bv fire or otherwise have reached about one-half of one per cent, on the issues already called in. Of the earliest issue of fractional currency, 25 per cent, is still out; of the second, 17A per cent. It is believed that fully 10 per cent, will never re turn. Of course, this is cl'ir gain to Govern ment. But a great deal of currency comes in souea ana mutiiatea. iew notes replace it. The old, with gold notes, which are never issued twice, come to the vaoer-mill. In the engine-room is a slowlv revolving iron cylinder, as large as a hogshead, and four times as long. It has three locks, whose keys are held by custodians appointed by the Sec retary. Alter the old notes have been cut apart and punched to cancel them, the three Commissioners see them locked fast into this cylinder. Hero, with water and chemicals. they are churned for twenty-four hours. Then the Commissioners (each a watch upon the other, and all upon the paper-maker) return with, their keys and hold solemn inquest lest some notes should remain intact, to be patched, reunited, and again passed for money. But they find them decomposed, and requiring locks no longer. Next the mass is pumped up into the huge tanks in the room above, the ink washed out, leaving it white like cheese-curd; and coloring matter mixed in, until it is just the hue wanted for the new paper. Afterwards the pulp is strained through holes which line needles could barely pass, and next spread thin and even upon a very close sieve of steel wires. Now it is in the form of paper, but not strong enough to bear its own weight. Here a wire frame, passed down upon it, leaving it thinner at some points than at others, stamps it with the "water-mark" so called because impressed while the pulp is wet. This one is a T enclosed in a little square, and readily seen by holding the finished paper up to the light. The Bank of England relies solely upon its water-mark for protection against counterfeits. That is impressed, not with wires, but with a metallic plate, laboriously filed out hy hand the work of years. A grandfather, father, and son, each hearing the honored name of John Smith, have done this nliDg for "the old lady of 1 hreadneedle street" through three generations. lhe endless sheet of pulp on this endless sieve passes on, and on, between heated rol lers, the water squeezing out and evaporating, the mass growing firmer and firmer, until, at the further end of the long room, it comes out an endless roll ol finished paper, six leet wide, which knives, also running by machinery, clip into convenient wrapping sheets. The paper mill is a noisy monster, and allowed to run only through the night, liy day, its clatter would disturb the general drowsiness of the department. Hard by is the envelope room, uere a steel cutter, like an inverted tin dish with sharp edges, is placed on a pile of paper under a press. One turn at the lever, ana it nas cut out five hundred envelopes. Next, still open, they are spread one hundred upon a board, each lapping over the others, so that a Strip oi uue-eigum ui a iu aivug no uici edge is left exposed. Over this a girl, with a brush, spreads the mucilage which the writer is to moisten at last when ready to seal his letter. Then the board, with a score of others, is placed on a frame exposed to the air. After this gum on the upper Haps grows dry, the envelopes, while yet without a fold, are laid in thick bunches on a magical, vora cious, impatient little machine. It seizes them with hungry teeth, instantaneously brushes mucilage upon each end and the lower flap, folds the four flaps in, tightly seals the three lower ones, leaving the other un fastened for the reception ot the letter, and there is your envelope 1 This cunning, won derful automatou, no larger than a sewing machine, thus folds, seals, and flings out two thousand per hour I In the engraving room we find half-a-dozen workmen, each with shade over his eyes, in tently peering through his microscope at a little plate of softened steel, which Bhines like a mirror. With the burin (a delicate pencil of harnened steel), he is slowly plouhging finest, minutest furrows, which the naked eye can barely see. We lean over the shoulder of one, and find him copying on steel a sketch from the paper before him, with two groups one cutting wheat with the sickle of old, the other, with our great reaping machine. A little thing that you could cover with two silver dollars, yet he may spend a year in en graving it. Each workman does only a small portion of a note. He is to follow exactly the sketch given him, and yet marvellous individual ity even in these infinitesimal lines an ex pert will detect their author, just as we recog nize handwriting. In both steel and wood engraving for books, foreign nations excel us. But on this work we are far in advance of them. American bank notes show the finest engraving in the world. The best workmen in Government Bervice are paid about $3000 per year. In private employ they sometimes earn $10,000. But a portion of the engraving i3 mechanical. Fifty years ago a Yankee named Asa Spencer invented a curious machine called the geo metrio lathe. The apparatus is intricate the principle old and simple. The steel plate is fastened firmly upon a bed. Then the burin, grasped hy strong muscles of steel, is moved over it by machinery, ploughing its little furrow wherever it goes. This engraves any desired scroll, net-work, or other regular and intri cate devices with an exquisite fineness, minute ness, and mathematical precision, of which the human hand is incapable. The elaborate, involved ornamentation (Aoio elaborate and involved only the microscope reveals) upon the back and about the "counters" of our fractional and greenback currency, is engraved by this process. Hand imitations of it are most tedious and clumsy. A geometric lathe coats from three to eight thousand dollars another difficulty for counterfeiters. A copper plate will print eight or ten thou sand impressions before wearing out; a steel plate about thirty thousand. Copper was formerly used, because softer and cheaper to engrave. But mark the modern improvement 7 which the number of iuuresjjieoa we can get from one steel plate is absolutely limitless. The single flat plate, so laboriously cut by the engraver, say tor one t.r greenback, is never used to print from. It is called the "bed pieoe." After the last touches of the burin, it is kept in the fire five or six hours, to gain adamantine hardness. Then it is laid on the bed of a press another giant of iron and nnder heavy weight (only 3000 pounds, but all converging on the point of contact), a little cylinder of softened steel is rolled over it, backwards and forwards. After the first faint impression the workman takes out the cylin der to see where harder or lighter pressure is needed. When he puts it back to roll again, the variation of one hair-breadth from its old track would blur and ruin both die and plate. But the nice-adjusted machinery, under his exact eye, makes no mistakes. In an hour or, two the cylinder, or Vdie," bears a perfect impression, in relief, of the face of the $5 note, down to its finest line and most delicate shade. Then the little original plate is locked up in the safe, to repeat this process whenever wanted. The cylinder, hardened in the tire, beccmes a perfect die. Next a large, smooth plate of softened steel is placed on the press; the die is rolled over it again and again, till the plate bears four impressions of the $5 note. Then the die is locked up ready for similar use in future. The new plate is now ready to print the "fives," four at a time. Mates lor the smaller fractional notes, coupons, and beer-stamps, each bear from a dozen to forty impressions. This most ingenious "Transfer Process," by which the original steel plate is multiplied indefinitely, was de vised early in this century by one Jacob Per kins, of Newburyport, Mass., the inventor of steel-engraving itself. Now, into one of the printing-rooms. As we open ittjdoor, the clatter of forty-four noisy presses breaks upon us. Each has three attendants one man, who carefully inks the large, shining plate, and, when its interstices are filled, rubs the rest of its surface clean and dry; a second, who lays the plate upon the bed, shoves it under the tympau for its mighty pressure, and then returns the plate to be inked; and a girl, who lays on the blank sheets and removes them after they are printed, placing a leaf of brown paper between each two, to keep them from blotting. Each press throws off about one hundred and fifty sheets per hour, but in emergencies its product can be largely increased. From one flies a na tional Hag, in commemoration of three thou sand impressions once obtained from it in seven and a half hours. The plates are artificially heated; the press man handles them nimbly, and they would blister unaccustomed fingers. In these vernal days the great room is like au oven. Perspi ration streams from the workmen, and the girls keep their large palm fans in motion. This labor is exceedingly hard and trying. The old mode of printing was upon wet sheets, which came out like the damp morning newspaper. Clark, against strong opposition, has intro duced dry printing. It promotes security; dry sheets are easily kept in the counted packages of one thousand each. Wet, in large unequal masses, must often be changed from one pile to another. Dry printing is twenty five per cent, cheaper, and its labor is less severe than the old mode, which often causes rupture in pressmen. In printing from types, stereotype plates, or wood engravings, the raised letters and lines stand out so boldly from the general surface that but slight weight is needed to stamp their inky faces legibly upon the paper. But in steel engravings lines are cut into the plates; then filled with ink, and an immense pressure is required to stretch and drive the paper into all these fine interstices. Each press here is a monster of muscle. The hug of a grizzly bear is not the touch of a fly's foot in comparison. Put an inked plate and sheet into its mouth, then move a little spring, and the steel jaw comes down with the weight of 800 tons. The power is pumped up from the Potomac. It is on the simple principle that if you apply the pressure ot one ton to a little column of water one inch square, and then connect that column by pipe with . the water of a tank whose surface is bOO times as large, you impart the one ton to each of the 800 square inches, and can then bring the whole amount to bear upon one point no larger than the end of your linger. Mighty is the giant (.'old Water when clad iu hydrostatic armor. Into a bronzing-room. We should have glanced here earlier, for here bonds and frac tional notes are first treated. The blank paper is passed through a Hoe cylinder press, where it receives in ink the figures and rings which are to glitter on back and face of the finished note. Then it goes through a second steam press, where brushes put on yellow, shining powder in the places where the bronze ought .to go. This adheres to the wet ink; then, in the same machine, other brushes clean off all bits of metal from the rest of the paper; and au iron frame throws out and piles up the sheets. Bronxe is made of copper and zinc. It dries itself, and cannot he obliterated with out destroying the paper. Girls who tend the presses wear caps of white paper to protect their bair against minute particles floating about like flour in a grist mill. The walls, as in all other rooms where ma chinery is running by steam, exhibit placards: "Ladies must hot weab pull Skirts in this Room." The order originated in the serious injury of one, through her dress catching in a wheel. So through working hours limp skirts hang upon forlorn figures. But in passing the dressing-rooms and alcoves we notice that each, with its long rows of nails, is a museum of hoops, all waiting to he donned at the close of the day when the Bureau is still. If every private household is entitled to one skeleton in its closet, two or tluee hundred is not more than a fair allowance for the Treasury De partment. Here is a numbering room. A dozen girls sit at tiny machines worked by treadles. One takes a bond you see it moving hither and thither in her swift hand under the swift stamp, "click, click, click," and quicker than the ticking of a watch, the number "194,042" is printed in vermilion successively upon it, and on all its forty coupons. She touches a spring; the final type "2" changes to a "3," and again the busy little press clicks over another. The girl by her side has a sheet of $10s on the First National Bank of Portland. Down on the lower left hand tjoruor of the first note is the bank number "39." On the upper right hand corner she impresses the Department number "200,242." So the busy steel workers click on, numbering millions of dollars daily. The separating room is, perhaps, most in teresting of all. Here are Clark's outting and trimming machines, in which the Bureau had its origin. A sheet of fractional jurreucy con tains from 20 to 50 notes. These cutters sepa rate and trim Ue notes, count them, and lay them out in piles of $5, $10, or $20, as re quired. When each of the first six piles con tains $20, the machine, if set to that figure, rings a little bell to call attention to the fact, moves a hand on a dial plate, to record the count, and goes right on, slicing up, counting, and recording fresh sheets. It is a wonder of wonders. Fed hy two girls, it does the work Of 40. It separates, trims, and bunches 1000 sheets per hour. To the precision of machinery jt almost unites human intelligence. It makes no mistake. The packages of little notes, ripht from it, with no other count, are banded mA packed in pasteboard boxs, containing $1000 to $3100, and sent to the Treasury ready for issue. y verywhfre on our rounds have we passed girls counting, by hand, uncut sheets of notes, bonds, and stamps usually in paokages of 1( 00. With long practice, they grow singu larly expert. ou see only a confused flut tering ot leaves, while they count 1000 sheets in four minutes. Upon the separated notes they carry on swiltly a curious, double mental operation. Every sheet of greenbacks originally contains four bills. After cutting apart, Clark's ma chine drops them into four boxes. Being numbered consecutively, their order, in any one of tlies e boxes will "skip four." If the top note is 102, G40, the second will be 102,644, and so on to the end. The girl takeB up a handful of these notes. By one process, she must count them off into packages of 100, and also make sure that the Department numbers come in proper sequence. To repeat, at every note, the long 102,640, etc., would be endless. So, while running her fingers over each note, she gives, simultaneously with its count, only the final figure of its Department number, thus: "10, 2-4, 38, 42, 56, 60," on through the whole hundred. Your eye can barely lollow her lightning speed, checked here and there for a second, as she whisks into its proper order a note whese number trlls br it is in the wrong place. She grows so uned to this singular double enumeration, that she cannot possibly count a single hun dred rapidly, without carrying this attendant Eequence along with it in her mind. Bonds, when completed, are delivered to the Register; National Bank notes to the Control ler; greenbacks and fractional currency to the Treasurer. We have in circulation $28,000,000 of fractional currency. It wears so rapidly that we reissue $400,000 weekly, to take the place of spoiled notes called in and cancelled. The Printing and Engraving Bureau han dles daily from $2,000,000 to $60,000,000 of our various publio securities. It has manu factured, in whole or in part, more than $7,000,000,000 I And yet the Government has never lost one dollar of it, except a single den ciency of $1100, which occurred before the Bureau was fairly organized. It is an unex ampled chapter in financial history. Like that cylinder where old notes are thrown, to be transformed into new paper, the safe where dies and bed-pieces are deposited, and the other safe, large as a parlor, which contains finished notes and bonds, have each two or three locks, whose several keys are kept hy separate custodians. They are never opened save in presence of two or more per sons. No die or bed-piece in a workman's hand ever goes out of sight of the officer re sponsible for it. Otherwise, with a dishonest artisan, it might be duplicated, whereby the counterfeiters would triumph. The checks and balances which protect these immense amounts, passing through hundreds of hands, against carelessness and dishonesty, are very perfect and wonderful. They rest on these simple principles: 1. Every package and sheet of paper designed to make money of is treated as money from the moment it comes, blank, into the Bureau. No sheet, nor single note, defective, or spoiled at any stage, is thrown away. Each bit of paper, once re ceived, is duly delivered in some form to the higher officers of the Treasury. 2. No package passes from one department to another, or from one hand to another, without a count and a receipt, recorded for preservation iu a well-bound book. The counter, too, puts her initials on the band of the package. There fore, if a package or a single sheet be lost it can be traced to the very hand which received it last, but failed to deliver it. A package is counted thirty-three times iu passing through the various operations. Not a dollar would be delivered even to the Seoretary of the Trea sury without his written order and receipt. 3. Any mistake or discrepancy is traced out and rectified the instant it becomes known. The hooks are balanced every night. No operative or superintendent is allowed to leave until all the accounts are reported correct. Last January, in the midst of a day's work, and without previous warning, the Secretary ordered all operations stopped, to test the accuracy of this system. The accounts were taken, just as they stood, and an inquest held on the Bureau. On that day it contained over $700,000,000. Not only was the aggregate found right, hut the amount in each of the three-score rooms agreed with the books to the laBt cent. Only the following instances of "missing" have occurred from the beginning: In 1864 a scrubbing woman stole a sheet of $20 greenbacks from the plate-ptinting room. The next day, offering one on Pennsylvania avenue, she was apprehended at once. But the unfinished notes were not legally money, so no charge could be maintained against her, except that of stealing the trivial value of the paper on which they were printed. Once $40 and afterwards $100 of fractional currency were missed from the drying-rooms. All the occupants were searched by commit tees of their own number, but unsuccessfully. So the losses were assessed upon them, and two or three suspected persons discharged. Forty dollars of compound-interest Trea sury notes disappeared from the sealing divi sion. Diligent search proving fruitless, the employes paid for it, and concluded that it had been caught in the machinery and cut to pieces. But no other sheet of that number has been issued, so if there was a theft it will one day appear, when the notes return. Two hundred sheets of 25-cent stamps, amounting to $1100, could not be found. Through the negligence of a superintendent in not reporting the loss promptly, it was impos sible to trace it. But a few weeks later it ap peared that one of the girls was spending money in sums suspiciously large not for herself, but, woman-like, for the comfort of her father, paying his board at a costly hotel. Charged with the theft, she at once confessed. She had carried the notes out under her skirts. Had the superintendent done his duty and made the loss known at once, she could not have got away with them. The girls in the division would have chosen a committee to search rigidly the clothing of all. This money never was refunded. It is the solitary loss that has not been made good. LaBt May the wet printing-room showed a deficit of 99 unfinished $1000 bonds. As soon as the superintendent was sure of this (it is difficult to keep minute account of the wet paper) search was instituted. They were traced into a counting-room, and there inves tigation was baffled. Six weeks later, they turned up in one of the safes. A girl, in giving the last count to 1000 sheets of "beer stamps," had laid them down upon a pile of bonds. The stamp sheets are a trifle the larger; and in picking them up, she took also 99 sheets from the top of the bonds. Put iu the safe together, they were not found until the "beer-stamps" were taken out for de livery to the Commissioner of Internal Re venue. A few weeks ago a girl in tha separating room stole $M. Through the exactness of the system, it was traced directly to her, put of ail tie twity or thirty woployCs i 5, 18G7. that branch, within two hours after the search began. The most considerable theft from the Trea sury thus far was of securities which the Bu reau had delivered up and obtained the Re gister's roceipt for. A clerk in the Loan Branch abstracted $100,000 in 6 per cent, coupon bonds. The loss was not discovered for weeks. Meanwhile, reporting that his grsndfather had died leaving him a fortune, he resigned, removed to New York, took a brown stone front, and lived luxuriously. He did not try to negotiate the bonds, only presented the semi-annual coupons for interest as they became due. But each coupon bears the number" of its bond, and a list of the miss ing numbers had now been sent to all Govern ment agents. Therefore, with a stamp and red ink, he added one figure to the number of each coupon, changing 46,918 to 469,181, and so on. But' suspicion fell upon him for fast living; the grandtather proved a hoax; he was arrested; confessed; declared that he had burned the bonds, but pointed out the coupons, hidden in his house; was sent to the peniten tiary; pardoned out; and finally died. Now, in numbering coupons, precaution is taken against alteration. Whatever the number, whether 1 or 100,000, it is made to cover the back, so that no other figure can be added. g Bonds cost the Government 6$ cents apiece; fractional currency about one mill per stamp. The machinery of the Bureau has involved an expenditure of $250,000. It is claimed that it has saved the country over $3,000,000. Work begins at 9 in the morning, and, ex cept half an hour for luncheon, continues until 4. Much of it is so severe that this day is quite long enough. Men earn daily from $2 50 to $5; women, $1-50 to $2-40. A few girls look worn and ill; but most appear healthful and cheerful. JNearly all dress neatly and taste fully. For those having homes here, the work is good and pleasant. For those who are strangers, Washington is the most disagree able and dangerous of American cities. Few men familiar with it would leave a sister or daughter to the tender mercies of its boarding- house life. ? The Pacific Railway is to make new finan cial centres. Paper, redeemable in New York and San Francisco, will be current all over the globe. Monetary Congresses sit in Paris ; few years hence will doubtless see among all the nations a uniiorm metallic currency American telegraph lines and newspapers start in China ; the Japanese Government orders primary school-books, printed in Eng lisb, from New York. How long before our own tongue will be the language of finance. news, and commerce in every meridian and under every parallel r FINANCIAL. NORTH MISSOURI RAILROAD FIRST MORTGAGE SEVEN PER CENT. BONDS. Having purchased 9600,000 ol the FIRST MOBT GAGE COUPON BONDS OF THE NORTH MIS SOURI RAILROAD COMPANY, BEARING SEVEN PER CENT INTEREST, having 80 year to run, we are now prepared to sell the same at tbe low rate o 5t And the accrued Intereetf rem this date, thus paying tbe Investor over 8 per cent. Interest, which la paya ble eml-annually. Tb Is Loan Is secured by a First Mortgage apon tbe Company's Railroad, 171 miles already constructed and In running wrder, and 62 miles additional to be completed by tbe tirst ot October next, extending from the city ot bt, Louis into Northern and Central Mis souri. ull particulars will be given on application to either ol tbe undersigned. E. W. CLARK CO. JAY CODKi: fe CO. DBXEI. A CO. P. B. Parties holding otber securities, and wishing to change them lor ihm Loan, can do so at tbe market rules. 8161m TfflE OFFER FOR SALE lira PASSEKCER RAILWAY BONDS, AT NINETY-ONE And Accrued Inteicst from July 1. These BONDS are FIRST-CLASS INVEST. KENT, being secured by a FIRST MORTGAGE on the Road and Fiancbises ol the Company, and bear Interest at the rale of SIX PER CENT. Free from all Taxes, City, State and United States For further information cal at C T. YERKES, JR., & CO., J 881m I No. 90 8. THIRD Street. 7 3-10s, CONVERTED INTO FITE-TWE IS TI ES. BONUS DELIVERED IMMEDIATELY, IDE HA YEN & BROTHER 10 2 rp WO. 40 N. TII3BD STREET. HARDWARE, CUTLERY, ETC. GTANPBRIDGE, BARR & CO., IKPOBTEBB OP AND DKALEEB UI FOREIGN AND AMERICAN HARDWARE, NO. 181 MARKET STREET, Offer! or sale a large stock ol Hardware nncl Cutlery, TOGETHER WITH lOOO KEGS NAILS AT REDUCED PRICES. t7thtq C U T L B K Y. A fine assortment oTPOCKETand TABLE I'UTLUKY, KAZOKS. RAZOR STROPS. LADIEN' btUS. bORS, PAPER AND TAILOMm) SHEARS, ETC., Oitlery Btore, NO. 136 Beuth TENTH Street, U Three doors above Walnut oj FINANCIAL. JC7 OT ATE LOAN. THE NEW SIX PER CENT STATE LOAfJ, Free from all Btato, County, and Municipal Taxation, Will be I ornlBbed In stuna to salt, on applies tlon to either of tbe nnderaigoed;"- J AT COOKE CO DBEXEIi CO., 1 1 2mp E. W. CXABK CO. BANKING HOUSE JayCoose&G). as and 114, So. THIRD ST. PinLAP A. Dealers in all Government Securities, OLD 5-20. WANTED IN EXCHANGE FOR NEW. A LIBERAL DIFFERENCE ALLOWED. Compound Interest Notes Wanted, IKTEBEST ALLQWED ON DEPOSITS. Collections made. Stocks bought and sold on Commission. Special business accommodations reserved fox ladles. rM8m THE UNDERSIGNED HaVE PURCHASED THJE NEW SIX FEB CENT. REGISTERED LOAN or TBI LEHIGH COAL AND H"AVIQA TION COMPANY, DUE IN 1897. INTEREST PAYABLE O.UABTEBLY,' FBEE OF UNITED STATES AND STATU TAXES, AND OFFEB IT FOB SALE AT TUB LOW PBICE OF NINETY-TWO, AND ACCB17ED XNTEBEST FBOSI AVOCST 1, This LOAN Is secured by a first mortgage on the Company's Railroad, constructed and to be con. Blrnotea, extending from the southern boundary of the borongh of Manch Chunk to the Delaware tvec atEaiton, lnolnalng their bridge across the saidrlvex now In process ef construction, together with all the Company's rights, Ubertless, and franchisee appertain lug M the said Railroad and Bridge, Copies of the mortgage may be had on application at the onlce of the Company, or to either of the under sl&ned. DBHXEL CO. X. W. CXABK GO, J AX COOKS A CO. rautt W. II. NEW BOLD, SON A AEBTSEJf RATIONAL BANK OF THE REPUBLIC, 809 and 811 CHESNUT BTIIEET, PHILADELPHIA. CAPITAL l.OOO.OOw DIRECTORS. Joseph T. Bailey, Malhun H ll let, Beii. ltowlHud. Jr., bttmuel A. BlBpham, jidward B, Orue, William ErrtAn. ORgood Welsh, Frederick A, Hoys. Win. H, Khawn. WM. ii. SHAWN. Prcwldent, Late Cuthier of tin Central National Bank JOB. P. MTJMFORD Cashier, 6 m Lou of th Philadelphia National Bank (J. G. GECURITIEZG A SPECIALTY. SMITH, RANDOLPH & CO, BANKERS AND BE01IEH3, NO.10B THIBD STtjNO. NASSAU ST y HIIA PET.PH1A. I MW TOaK Orders for Stocks and Gold exeeuted in Phiiar dtlvhia and New York. J If .
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