Paper currency for redemption must be assorted by kinds and denominations, and each ioo notes or less enclosed in a paper strap marked with the amount. The Treasury gives other in structions in case of large packages. With each package should be enclosed a memorandum giving an inventory of the contents, the sender's name and address, and the disposition to be made of the proceeds. United States notes, treasury notes of 189o, gold certificates, and silver certificates may be sent in the same pack age and should be marked "Unfit United States currency for redemption." National bank notes, federal reserve notes, and federal reserve bank notes may be sent in the same package, marked "National and federal reserve currency for redemption." Charges are paid by the government on unfit national bank notes, federal reserve notes, and federal reserve bank notes, when sent to the department at Washington "charges collect," but not on any other kind of currency.
The total redemptions during the fiscal year 1919 were: United States currency $731.4 millions Federal reserve notes " Federal reserve bank notes 31.8 "
National bank notes 294.2 ,, Money Circulating in the United States The total money in circulation in the United States on June 3o in recent years is shown in the following table: to the production of the mines, and to the reduction of plate and the like. The reason for the decrease in the gold certificates and the increase in the federal reserve notes will be explained in Volume II, Chapter XII. The increase in subsidiary silver cur rent is explained by the greater population, the higher price level, and the fractional prices charged for various services and goods. Certain changes in marketing methods, such as the use of slot automatic machines, also occasion greater need for small change; in prosperous times more people have money on their persons, particularly small coins. The decrease in notes of 1890 has been explained. It is evident from the table that the money in circula tion is fast becoming the various forms of bank notes.
The paper currency of each denomination outstanding on June 3o and its location, as well as other statistical data, are given in the preceding table.