The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-11-15

I know ~ slowly walked ont OF the Office.
I could tell ycu half dozen such incl
DENTS" :.
/" According to recent statements" said
the reporter, Z" there appears TO be large
amount OF money accumulated In the sub
Treasury at New York;"
"Before you go any farther" said Mr..
Dougherty,, 81 want TO say that there Is
some misunderstanding regarding this
money. Many suppose that 1t was COZ
Iccted in New York alone. In this, how
ever, / think they are mistaken. III Is
money accumulated from Invalid money
orders from all over the country, and some
of the orders date back to the time OF the
organization Of the money-order depart
ment, now about seventeen years. you
see, New York Is the foreign rs well as The
domestic exchange, and all surplus Is
sent to the postmaster ut New YORK,
who I'm turn deposits the moneys In the
| Sub-Trcasury mt that city. The money
orders which become invalid, one year
after date, are sent to the Department NJ
Washington, where they are placed on ille.
In the mean time should the payer present
himself at the Office after that time we
make application on his behalf to the De-
partmcnt at Washington, which then ail-
! thorizes us to make The payment
"You say that you send all surplus funds
10 New York. How do you manage when
YOU run SHORTY"
"That is something we never allow TO
occur; and, in fact, from the systematic
manner in which everything Is arranged,
such thing cannot occur. The money
order system Is nothing more nor less than
I
there is no capital invested and none ncces-
sary. | have already told you that New
York is the exchange. The smaller offices
send their surplus to the nearest main
Office. whence in turn the entire amount IL
RENTED to New York. At the same time
every Office. large and small, has an ac-
count with the postmaster at New ork, ana
is credited with certain amount, which it
can draw when necessary. When that
amount is exhausted arenewal OF theaccount
il necessary. Now, our limit is $4,000,
and | draw for $4,000 at time as lneed IL.
When this amount Is exhausted L make
application to have the account renewed.
/ In this way we are always kept supplied.
During the great panic in 1873, when the
banks were not considered safe, we trans
mitted an immense sum o. money. In the
month OF September alone / paid ont III
this Office $4,000. This is what is termed
a paving ofiico-in other worCs, we pay out
aboutiiy times as much rs we receive. Du-
ring the last year we cashed 90,9lS orders,
amounting to S1,515, 307.4j, and we issued
| IS, 245 orders for S425,1lG.1O. As the BUSH
ness il continually increasing, these
amounts will be swelled considerably by
! the close Of the present year"
"Have you many Invalid orders on
hand at prcsent!"
"Only few, and these will be sent to
Washington in day or two. have about
/ 81 500 worth, however, that are unclaim-
od-that is to say, they have been lying
here for long time. Here is lot, all be-
longing to one man; and here is another,
belonging to a single individual. They are
merchants, well known here, but do not
seem to be in a hurry to get their money.
One Of these allowed a couple OF orders to
remain longer than one year, and think
inc that his money was lost, he gave his
orders-onc for $50 and another for S5-to
his wife, telling her iocularly to make use
OF them. The lady came here and asked
whether these orders were Of any account.
Upon being informed that they were, she
thought this an excellent joke on her hus-
band. made application for her, and in
two days she had her money. baltimore
American.