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How to stick currency charter

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(curious music) - If you have money thats been damaged in a fire, in a flood, thats been eaten by insects or animals, well evaluate and determine how much is there and reimburse you for it. (curious music) My name is Eric Walsh, Im the assistant manager at the Mutilated Currency Division. Every year, the Mutilated Currency Division receives about 23,000 cases, people will send money thats been somehow damaged, and we reimburse, annually, about 40 million dollars. Its a free service the government provides that we pay dollar in dollar out. We require 51 percent of the note present to pay on it and that just protects us from paying twice on the same note. Once we determine the amount, we will send a treasury check for what we discover. Were pretty low-tech here, so the tools of the trade are scissors, knives, scalpels, glue and tape, and maybe a pair of tweezers. The most challenging cases are usually cases that the money has gotten wet and sat for long periods of times, and itl

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What are the notches on a tally stick?

Made of hazel wood, the sticks contained notches denoting the amounts that had been paid; the notched sticks were split into two lengthwise, one half (the stock) being held by the payer and the other (the foil) being retained by the Exchequer.

What are the 2 different kinds of tally sticks?

Principally, there are two different kinds of tally sticks: the single tally and the split tally. A common form of the same kind of primitive counting device is seen in various kinds of prayer beads.

What were the sticks used as currency?

Tally sticks were a form of receipt for government income which originated in the middle ages. Tallies were regularly destroyed over the centuries by the Exchequer which had offices in the Palace of Westminster, but following its abolition in 1826, a large quantity of tallies - some two cartloads - were left behind.

What was money before paper?

Before money was invented, goods and services were exchanged through bartering or using commodities like salt, cattle, or grains. People used metal objects as money to exchange goods and services as early as 5000 B.C. Paper money in the United States dates back to 1690 and represented bills of credit or IOUs.

What is split tally stick?

Tax assessments were recorded on a wooden stick that was split down the middle so both parties held a durable record. A record written in ink accompanied each stick. To confirm payment, the two halves could be matched to ensure that they tallied. The British Exchequer continued to use the split tally until 1826.

What was money called in the 1700s?

Cash in the Colonies was denominated in pounds, shillings, and pence. The value of each denomination varied from Colony to Colony; a Massachusetts pound, for example, was not equivalent to a Pennsylvania pound. All colonial pounds were of less value than the British pound sterling.

What did paper money look like in the 1800s?

The first United States notes of 1861 are known as Demand Notes, and in 1862 they were replaced by Legal Tender Notes. From the first U.S. paper money issued in 1861 through to the present day, all paper currency issued by the U.S. government has remained legal tender!

What do you know about single tally sticks?

The single tally stick was an elongated piece of bone, ivory, wood, or stone which is marked with a system of notches (see: Tally marks). The single tally stick serves predominantly mnemonic purposes.

What did China call paper money?

Jiaozi (Chinese: 交子) was a form of promissory note which appeared around the 11th century in the Sichuan capital of Chengdu, China. Numismatists regard it as the first paper money in history, a development of the Chinese Song Dynasty (9601279 CE).

What are the use of tally sticks?

Tally sticks were a form of receipt for government income which originated in the middle ages. Tallies were regularly destroyed over the centuries by the Exchequer which had offices in the Palace of Westminster, but following its abolition in 1826, a large quantity of tallies - some two cartloads - were left behind.

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