The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1867-12-25
The Money Order System.

A brief resume of the postal money
order system as conducted by the United
States government, cannot be devoid of
interest to the public, although the great
masses of the people are ignorant Of the
principles upon which it is based, if not,
indeed, of the existence Of such sys-
TEN. 1t is a system designed to benefit
the public, as we'll as to be source of a
prolific revenue to the government; and
for business men, and all others who wish
to send small sums of money to dis
lance, no scheme has ever been devised
which provided so effectually for a great
aad public necessity. 1t is virtually i'm
possible for thousands of persons residing
in the country to obtain bank drafts, and
the express companies charge exorbtant
rstes for the transmission of small -sums.
Many are in the habit of sending money
through the mails in registered letters
it costs twenty cents to have letter re-
gistered, and no security whatever is
guaranteed the RENTER; while money
order of any amount from one dollar to
twenty, can be procured for ten cents,
and for any sum between twenty and fif-
ty dollars for twenty-five cents, and full
security for its transmission guaranteed.
The great advantages of this system con-
sist in its moderate fees, and the perfect
security it affords against fraud and loss.
This security is affected by leaving out
the name of the person to whom an or
der is payable, so in the event of its be-
ing stolen or lost by accident IN transitu,
party in illegal possession cannot get it
cashed. Should an order be lost, the
owner can obtain duplicate without de-
lay or difficulty. So absolute, in fact, is
the security afforded remitters Of funds
that even postmaster who might at
tempt to defraud the government by al
tering the amount of an order, or by
forgery, is morally certain to be detected.
The superiority of this system over any
other in existence has been fully demon
strated in Great Britain, where it has
been successfully in operation for num-
Der of years. The system was commenced
on the first of November, 1864, with one
hundred and forty-two offices, and it APP
pears on the 30th af June, 1865, that
81, $50, 122 had been transmitted, the re-
venue accruing from which amounted to
$11,534. In 1866, the number of of
fees had been increased to four hundred
and seventy-three, and the amount of
business done that year amounted to an
aggregate of $3,977, 259, and the fees
$35,779
In his report for the fiscal year of
1864, II. J. Anderson, Auditor of the
Treasury 1or the Post Office Department,
stated that the experiment eventuated
satisfactorily, having paid all expenses
and left 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 service has increased more
than thousand fold, and is still increas-
ing in a rapid ratio; and there can be no
reasonable doubt that it is destined at no
distant day to add largely to the reve-
nues of the government. In 1867, the
number of offices was seven hundred and |
sixty-seven, except in the last quarter of
the fiscal year, when sixty ght more
were added. The precise amount of
business done during the last year has
not yet transpired, owing to unavoidable
delay in the Pacific mails; enough is
known, however, to make the estimate of
$40, 10000 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
hundred more Offices will be in operation
in the year 1868, making a total of twelve
hundred and. thirty-fve offices; and
should the business of this department
in the same ratio as heretofore,
;wenty millions of dollars will be mod
crate estimate for the present fiscal year
1869 =