The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-09-03
Tbe Money Order svstsu.

THE Money Order System.
A brief resume of the postal money order sys-
tenn, as conducted by the United States Govern
ment cannot be devoid of interest to the public,
although the great masses of the people are
ignorant of the principles upon which 1t Is
based, II not, indeed, of the existence of such
system,
II is a system designed to benefit the public,
as well as to be a source OF a prolific revenue 70
the Government; and for business men, and all
Others who wish to send small sums Of money
to a distance, no scheme has ever been devised
which provided so etfectually for a great public
neces sity. II Is virtually impossible for thou
sands of persons residing In the country to
obtain bank drafts, and the express companies
charge exorbitant rates for the transmission
OF small sums. Many are in the habit of send.
ing money through the mails In registered
letters; but it costs twenty cents to have a
letter registered and no security whatever Is
guaranteed the remitter, while q money order
Of any amount from one dollar to twenty can
be procured for ten cents, and for any sum be-
tween twenty and fifty dollars for twenty-five
cents, and full security for its transmission
guaranteed. The great advantages of this sys-
tenn consist in its moderate fees and The perfect
security IL affords against fraud or loss. This
security is effected by leaving out the name of
the pei son TO whom an order is payable, so In
the event Of it's being stolen or lost by accident
in udilSitu party in Illegal possession cannot
get 1t cashed Should an order be lost the
owner can obtain q duplicate without
is the security afforded remitters of
funds, that even "a postmaster who might at
tempt 10 defraud the Government by altering
the amount of an order or by forgery, is morally
certain to be detected. The superiority of this
system over any OJler now IN existence mas
been fully demonstrated in Great Britain,
where it has been in successful operation for a
number of years. The system was commenced
upon the 1st OF November, 1864, with one hun
dred and forty. two offices, aud 1t appears the
3Oth of June 1866, that 81 $780, 100 had been trans
mttted, the revenue accruing from which
amounted to Sll,534 In 1866 the number of
offices had been increased to four hundred and
seventy three, and the amount Of business done
that year amounted 10 an aggregate OF p3,9I ,2o9,
and the fees 1886, ,779.
In his report for the fiscal year of 1867, II. ].
AID aV,Af Of NI,a IRA f,sf
Office Department, stated that the experiment
had eventuated satisfactorily, having paid all
expenses and left a surplus in the hands of the
Government. With the addition of new offices
and The increasing popularity of the system
with the people, this branch OF the postal SER
vice has increased more than thousand fold
and is still increasing in rapid ratio and there
can be no reasonable doubt that 1t is destin ed
at DO distant day to add largely to the revenues
of the Government In 1867 the number of
offices was 767, except In the last quarter
were added The precise amount of business
done during the last year has not yet trans
pired, owing to unavoidable delay In the Pacific
mails; enough is known, however, to make the
estimate of Sl0,000000 safe one, and the
amount will probably be in excess of that,
which is nearly treble the amount OF the pre-
vious year. By an act of Congress four hum
dred more offices will be in operation in the
year 1858, making a total of twelve hundred
and thirty-fve offices; and should the business
of this department Increase in the same ratio
as heretofore, twenty millions OF dollars Will be
moderate estimate for the present fiscal year
(l868.
The department. cnecK is JnOrOugn IN every
respect, and fraud is utterly impossible. Each
postmaster Is obliged by law to furnish the de-
partment with a weekly statement of business
done at his office and if there be the slightest
error in his accounts he is at once notified
thereof. DIR. @. r. Macdonald is Superintend-
ent of the Money Order Office of the Post-Omce
Department and with staff OF six able clerks
he makes a preliminary examination OF all
statements received, and exercises general
supervision over the system.
In the Auditors Office John Lynch, of In
diana, is chief of the money order division, a
gentleman whose experience and abilities emil
nently qualify him for his responsible position.
| Associated with MIR. Lyn h are twenty-five
| clerks. During the last fiscal year the Post
Office of New York city has issued IL 8l7 orders;
| and paid 5000 orders For orders drawn on
that Office 81 1897 9l7 has been paid, and for orders
| issued S3l2, 997 received.