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5.

REGULATIONS AND INSTRUCTIONS FOR REDEMPTION OF MUTILATED

AND DEFACED CURRENCY.

to 1869 to be with

The Treasury Department is desirous of withdrawing All defu ted notes

and issi.es prior from circulation all notes issued prior to 1869, as well as all mutilated and defaced notes and fractional currency, drawn. and of keeping in circulation throughout the country clean new currency of the latest issue, and has adopted the following regulations and instructions on that subject, and in relation to the redemption of fragmentary notes and the distribution of new currency of the different denominations and of the most recent issue:

how.

I. Defaced an.I mutilated currency. 1. Defaced and mutilated United States and fractional What notes are notes, each equaling or exceeding by face measurement redeemablo at three-fifths of its original proportions in one piece, if clearly

face value, and genuine, are redeemable at the full face value of whole notes, in new currency, by the Treasurer, the several Assistant Treasurers, and Depositaries of the United States, and all National Bank Depositaries, and are receivable at their full face value by all officers of the Treasury Department in payment of currency dues to the United States.

2. The officers and Bank Depositaries by whom such Defaced notes currency is received will not use it in their disbursements, not to be used by but will forward it to the Treasurer of the United States at depositaries, &c Washington at the expense of the Department, under the Government contract with Adams Express Company.

3. Whenever the amount presented for redemption at When redeemed, one time to an Assistant Treasurer, Depositary, or Bank how payable: Depositary equals or exceeds fifty dollars in United States notes, or five dollars in fractional currency, it is optional with the officer or bank to either pay the owner its value in new currency, or give a receipt conditioned for such

pays ment when return for the amount has been received from the Treasurer.

When the same person habitually presents currency for redemption in sums somewhat less than those mentioned, it is discretionary with the officer or bank to refuse to receive it until it bas been made up to the required amount.

Department pays

4. The Department will receive at its own expense, under expenses of

the contract with Adams Express Company, from any pertransportation to Washington.

son, company, firm, bank, or corporation, United States notes and fractional currency which are defaced or mutilated, or in any way unfit for circulation, provided that the fractional currency be sent in sums of five dollars and upwards, and the United States notes in sums of fifty dollars and upwards. Parties remitting currency for redemption, and especially officers of the department, are, however, requested to make their remittances as large as practicable, and, when it is possible, to remit in sums of one thousand dollars or an even multiple thereof.

United States notes and fractional currency may be forwarded in the same package at the expense of the Department if at least five dollars in fractional currency is inclosed, or if the amount of the whole remittance equals or exceeds

fifty dollars. -desires to withs, 5. The Department is desirous of withdrawing from cirdraw from circu- culation all United States notes issued prior to the issue of

1869, whether mutilated or defaced or not, and will redeem notes, &c.

them on the same terms and in the same manner as notes unfit for circulation.

6. Fractional currency, before being presented for rerency to be as- demption, must be assorted into the different issues; each sorted, &c.

issue must be assorted by denominations and inclosed in paper straps at least one inch wide, securely fastened; each strap, if the amount of the parcel will admit, must contain one hundred notes of the same denomination; and on each strap must be written with ink the number of pieces and the denomination inclosed, and the name of the owner. The entire amount must be securely done up in one package, and upon the wrapper the date, the amount inclosed, and the name of the owner must be written with ink,

lation defaced

Fractional cur

Fragmentary notes, how redeemed.

II. Fragmentary notes. 1. Fragments of United States notes and fractional currency, constituting less than three-fifths of the original proportions of the notes, and notes torn or cut into pieces each less than three-fifths, are redeemable only by the Treasurer of the United States.

2. Fragments less than half are redeemed only when accompanied by an affidavit that the missing portions have been totally destroyed. The affidavit must state the cause and the manner of the mutilation, and the character of the affiant must be certified to be good by a magistrate or other public officer. When accompanied by satisfactory proof,

-when less than half,

fifths.

notes returned.

mission to Treas urer.

such fragments will be redeemed at the full face value of the notes of which they are part.

3. Fragments each less than half, but together purport- -same. ing to constitute more than one-half of a note, are redeemed only when it appears, either from the notes themselves or from an affidavit made in conformity to the foregoing paragraph, that they are actually parts of one original note.

4. Fragments constituting half or more than half, but when half and less than three-fifths of notes, when unaccompanied by evi- less than threedence that the missing portions have been destroyed, are redeemable for half of the face value of the notes.

5. In redeeming, under the last preceding regulation, Interest on fraginterest notes, with which interest is payable, half of the in- mentary notes terest due on the notes will be paid.

bearing interest. 6. Demand notes are redeemable in coin by the Treasurer, Rules apply to old on presentation at his office, on the same terms as to muti- demand notes. lations as United States notes.

7. Unredeemed fragments less than half are retained by Unredeemed the Treasurer; counterfeit notes are branded and returned. fragments retain

ed; counterfeit III. Mode of transmission to Treasurer. When a person making a remittance, either by mail or Mode of transby express, fails to give his full name and post-office address, including the State, the remittance is retained until the name and address are furnished, together with a satisfactory description of the package claimed.

An inventory, describing the contents by parcels, denominations, and amounts, should accompany every remittance.

IV. Remittances by express. 1. All remittances for redemption should be addressed to –by express. the Treasurer of the United States, Washington, D. C.

2. The packages should be put up in wrappers of stout Packages, hov paper or cloth, tied with strong twine, secured by careful put up. sealing, and plainly marked on the outside with the amount and nature of the contents, the full name and post-office address of the consignor, and the fact that they are forwarded under the Government contract with Adams Express Company.

3. A letter of advice, written on not less than half a sheet -accompanied of commercial note paper, must be put inside the package, with letter. and a duplicate letter should be sent by mail to the Treasurer on the day that the remittance is forwarded.

V. Remittances by mail. 1. All remittances by mail for redemption should be ad- Remittances by dressed to the Treasurer of the United States, Washington, mail.

&c.

D. C. Letters or packages so addressed are forwarded with

out charge for postage, whether they contain money or not. how sealed up, 2. Money for redemption, after being prepared as herein

before directed, should be sealed or tied up in paper of suitable strength, and plainly marked on the outside with the owner's name and full address, and with the amount inclosed. The package should then be sealed up in an envelope, together with a letter of advice, written on not less than half a sheet of commercial note paper, stating the name and full post-office address of the owner, the value of the remittance,

and the manner in which return shall be made. Remittances by

3. Remittances to the Treasurer by mail are invariably mail are at risk of at the risk of the owners. All communications to the Treas

urer, in regard to packages ascertained to have been lost in transmission by mail, are referred for investigation to the Second Assistant Postmaster General, to whom any further inquiry on the subject should be addressed.

4. It is a protection against loss to register letters containing money; but the registry fee must in all cases be prepaid by the party remitting.

owners.

Return of new

how made.

VI. Returns, how made. 1. Returns for amounts less than five dollars are usually notes or checks, made in new currency by mail at the owner's risk, but if

he so requests, returns are made by check on any of the cities named below, or in new currency by express at his

expense. -how usually

2. Returns for amounts of five dollars and upwards, remade.

ceived by mail, are usually made by transfer checks on the Assistant Treasurer of the United States in New York, Boston, Philadelphia, New Orleans, or San Francisco, as the owner may request; but if the owner desires new currency, it will be forwarded by express, on the terms stated in the

next paragraph. Same subject. 3. Returns for amounts of five dollars and upwards in

fractional currency, and fifty dollars and upwards in United States notes, are ordinarily made in new currency by express, at the expense of the Department; but if the owner requests it, a check on any of the above-mentioned Assistant Treasurers will be sent.

Returns for five, or more than five but less than fifty dollars, in United States notes, are ordinarily made by check; but new currency is returned by express, at

the owner's expense, whenever he requests it. Proceeds from 4. The proceeds of remittances from Assistant Treasurers, Government offi- Designated Depositaries, and other officers of the Governtheir accounts if ment, and National Bank depositaries, are, when they so

request, credited in account.

desired.

VII. General Instructions.

deemed.

1. Every officer of the Treasury Department is required, Spurious nutes to whenever any spurious note purporting to have been issued be stamped. by the United States is presented to him, to write or stamp on it the word 6 Counterfeit."

2. Notes of National Banks that have failed or gone into Notes of failed voluntary liquidation are received, redeemed, and forwarded banks, how reto the Treasurer by the officers and banks before-mentioned for retirement under these rules, in the same manner and on the same terms as United States notes of issues prior to 1869. Notes of all other National Banks, whether mutilated or not, are redeemable only by the banks which issued them and by their redeeming agents.

3. In case of the loss or destruction of one of his checks, Payment of lost and of an application for a duplicate, the Treasurer stops checks may be

stopped. payment of the original check, and furnishes the applicant for a duplicate with a form of bond of indemnity, upon return of which, properly executed, a duplicate is issued.

VIII. New fractional currency. In addition to being forwarded, when desired, in return New fractional for old, defaced, and mutilated currency, on the terms al- currency, how ready mentioned, new fractional currency is forwarded by the Treasurer. express from the Treasurer's office, under the Government contract with Adams Express Company, in sums of even thousands of dollars

1. On the receipt of original certificates of deposit to the Treasurer's credit, issued by Assistant Treasurers and Designated Depositaries of the United States and National Bank Depositaries; and

2. On the receipt and collection of drafts on banks and bankers in Boston, New York, Philadelphia, and Washington.

If the amount applied for is less than one thousand dollars, the express charges at contract rates are deducted from the remittance; if less than an even multiple of one thousand dollars, the charges on the fractional part of one thousand dollars included in the amount are deducted.

IX. Government contract with Adams Express Company. 1. The Government contract with Adams Express Com- Contract with ex. pany extends to and includes all “points accessible through press company established express lines, reached by continuous railway for transporting

notes, &c. connection," within the United States, but does not extend westward beyond Omaha and Nebraska City, in Nebraska, and Atchison and Leavenworth, in Kansas, nor include the

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