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  • feedwordpress 08:01:23 on 2017/06/12 Permalink
    Tags: Bureau of Engraving and Printing, Crash of 1929, , forensics, , , Mutilated Currency Division, New York Stock Exchange, , volume   

    “Many people take no care of their money till they come nearly to the end of it”*… 


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    (Roughly) Daily has taken a look at the obscure corner of the U.S. Treasury once devoted (literally) to laundering money (“Cleanliness is Next to Godliness“); today we visit that operation’s forensic cousin…

    The colorfully named Mutilated Currency Division at the Bureau of Engraving and Printing is a small office of crack forensics that spend their days poring over all manner of defaced dollars. Provided for free as a public service, the Mutilated Currency employees labor to identify bits and fragments of identifiable denominations that can be redeemed at face value.

    Established by Congress in 1866—less than five years after the government started issuing paper money—the Mutilated Currency Division handles about 30,000 cases a year, returning currency valued at over $30 million. As long as more than half of the note remains, or the Treasury can be satisfied that the missing portions have been destroyed, the Mutilated Currency Division will redeem the amount of money that has been damaged by fire, water, chemicals, and acts of god…

    Cash in your burnt, moldy, or soiled greenbacks at “The Mutilated Currency Division.”

    * Johann Wolfgang von Goethe

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    As we take it to the bank, we might recall that it was on this date in 1928, after more than 130 years of trading, that the New York Stock Exchange finally had its first day on which more than 5 million shares trade hands, as total daily volume hit 5,252,425 shares.  Just over a year later, on Black Tuesday, volume spiked to over 16 million shares…  as traders dumped their holdings and the Wall Street Crash of 1929 began (presaging the Great Depression).

    Average daily volume (over the last three months) on the NYSE today is 880,564,865 shares.

    Trading floor of the New York Stock Exchange, 1929

    source

     

     
  • feedwordpress 08:01:51 on 2014/10/29 Permalink
    Tags: , Black Tuesday, , Crash of 1929, hours, , , , work day   

    “Heigh ho, heigh ho, it’s off to work we go”*… 


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    Researchers often look at the number of hours worked, but rarely do they ask the question of when. Fortunately, the government conducts an annual study called the American Time Use Survey that tracks how people spend their days…

    The interactive graph pictured above (and available live here) shows the share of workers who say they’re working in a given hour, grouped by occupation. The tabs at the top allow one to focus on different job categories to see how their average workdays differ from one another.  For example, servers and cooks have a schedule that’s essentially the opposite of all other occupations; their hours peak during lunch and hold steady well into the evening.

    Explore more at “Who’s In The Office? The American Workday In One Graph.”

    * Disney’s Seven Dwarfs

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    As we breathe a sigh of relief that these studies don’t extend to what one does at work, we might recall it was on this date in 1929 that panicked sellers traded nearly 16 million shares on the New York Stock Exchange (four times the normal volume at the time), and the Dow Jones Industrial Average fell 12%. Remembered as “Black Tuesday,” this was the conclusive event in the Crash of 1929, and is often cited as the start of the Great Depression.

     source

     
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