Saturday, June 1, 2013

Mutilated Treasury Notes

WASHINGTON, May 18, 1862

To guard against frauds upon the Government and to secure the just rights of holders, the following rules, for the redemption of mutilated United States Notes, are hereby established.

FIRST – Mutilated notes, which have been torn no matter how much, but of which it is evident that all the fragments are returned or defaced no matter how badly, but certainly satisfactorily genuine, will be redeemed to their full face value on presentation.

SECOND – Fragments of notes will be redeemed in full only when accompanied by an affidavit stating the cause and manner of mutilation, and that the missing part of the note is totally destroyed.  The good character of the affiant must also be fully vouched by the officer before whom the affidavit is taken.

THIRD – In the absence of such affidavit, fragments of notes will not be paid in full, but the parts presented will be redeemed in their proportion to the whole note, reckoning, as a general rule, by twentieths.

FOURTH – Less than half of a note will not be redeemed, except by payment of the full value of the note under the second rule, or by payment of the proportional value of the missing part, when presented under the fifth rule.

FIFTH – Fragments of notes, for which less than the full face value has been paid, will be retained for a year, to an end that the owners who have received less than the value of the full note, may have opportunity to return the missing part and receive the amount previously withheld.

SIXTH – Until further order, mutilated notes and fragments will be redeemed only at the Treasury of the United States at Washington, whither they can be sent, addressed to the “Treasurer of the United States,” by mail, free of postage.  A draft on the Assistant Treasurer at New York, for the amount allowed will be returned in the same way, to the address of the person remitting the same.

Secretary of the Treasury

– Published in The Burlington Weekly Hawk-Eye, Burlington, Iowa, Saturday, June 7, 1862, p. 1

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