No coin had been deposited in the Treasury for the bills that were issued, and so they had no value whatever.
You can see how very necessary it is that we should have vaults bulging with money if our business is to go on satisfactorily.
The school-ship St. Mary's has just started off for her summer cruise.
This school-ship is kept by the City of New York for the purpose of teaching boys how to become sailors.
The vessel is under the control of the Board of Education, and only boys of the best character are received on board.
If by chance a bad boy finds his way on to the St. Mary's, he is dismissed the moment his evil ways show themselves.
The youths who are admitted to the school must be between the ages of sixteen and twenty, and they must show a very decided taste for a sailor's life.
The course of instruction takes two years, and during that time each boy must pay $30 for the cost of his uniform and bedding.
In the winter the ship lies alongside the pier at the foot of Twenty-eighth Street and East River, and there the boys are taught the art of navigation and all the seamanship they can learn before they go to sea.