In the Treasury Building and in the Bureau of Engraving and Printing one may see the entire process of manufacturing and issuing paper money. In the Treasury we see new bills exchanged for old, worn-out bills, which are ground to pieces to destroy forever their value as money.
BUREAU OF ENGRAVING AND PRINTING, “UNCLE SAM'S MONEY FACTORY”
But to understand the story of a dollar bill or a bill of any other value we must visit the Bureau of Engraving and Printing. This building, which is some distance from the Treasury Building, reminds us of a large printing office, and that is just what it is. Here we are shown from room to room where many men and women are at work, some engraving the plates from which bills are to be printed and others printing the bills. The paper used is manufactured by a secret process for United States money, and every sheet is most carefully counted at every stage of the printing. Altogether the sheets are counted fifty-two times. Many clerks are employed to keep a careful account of these sheets, and it is almost impossible for a single bill or a single piece of paper to be lost or stolen. After the money is printed it is put into bundles, sealed, and sent in a closely guarded steel wagon to the Treasury Building, where it is stored in great vaults until it is issued.
A CIRCLE AND ITS RADIATING AVENUES
At the Treasury we find the officials sending out these crisp new bills in payment of the debts of the United States or in exchange for bills which are so tattered and torn that they are no longer useful. This exchanging of new money for old is a large part of the business of the Treasury and calls for the greatest care in counting and keeping records, in order that no mistakes may be made.
After the old bills are counted they are cut in half and the halves counted separately, to make sure that the first count was correct. When the exact amount of money has been determined, new bills are sent out to the owners of the old bills, and the old bills are destroyed.
When we have seen enough of the counting of old money, our guide takes us down into the cellar of this great building, where we walk along a narrow passageway with millions of dollars in gold and silver on either hand. All is carefully secured by massive doors and locks, and none but trusted officials may enter the vaults themselves. These gold and silver coins are made in the United States mints in Philadelphia, Denver, New Orleans, and San Francisco.
You see the paper bill is not real money but a sort of receipt representing gold and silver money which you can get at any time from the Treasury. As we peep through the barred doors of the vaults and see great piles of canvas sacks, it is interesting to know that some of the silver and gold coins they hold are ours, waiting here while we carry in our pockets the paper bills which represent them.