The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-11-17
FINANCIAL.

For the year ending June Both the postal
order business of the Post-otfice Department
amounted to S56,69S, 7O6.22, and the revenue
derived from it amounted to $295 80
1t is claimed that it is one Of the cheapest
speediest and safest methods oftransmittine
money ever devised. There will be an
effort made in the next Congress to further
utilize tine post-office for this purpose, by
allowing deposit of twenty-five cents and
upward, to be made in any post-office in the
United States, to be delivered to the party
named at, any other post-ofiice, at cost
of from two to ten cents to depositors, as pei
amount RENTED. While this will involve
considerable expense, it is claimed that the
revenue derived will more than reimburse
the department for the outlay, and that the
government will derive considerable rev.
enue thereby. The past shows that the
weak point in the postal order system is the
large amount Of money deposited in the
post-ofiices all over the Union, and through
one blunder or another never paid to the
person who ought to have received it. The
post office in New York is the general head
Quarters of the system, and there is now
unclaimed at that office 81 ,S25, 497 40, which
is the result ofseventeen years accumula-
ton. All of the money unclaimed in the
post-offices all through the country is sent
to the New York post-office. The country
postmasters are required TO account weekly
to the postmaster in New York. When
their deposits exceed their needs Tor their
business, as they usually do exceed II, mas
much as more money comes to the city than
goes from il by this system, then the coun-
try postmaster sends his surplus in draft
to New York. The accumulation is due IN
great measure to miscarriage. The surplus
fund is increasing, as Il is impossible to tell
TO whom II belongs. This money may be
applied to the use of the posto-ffice depart
ment by an act Of Congress, which Will
probably be done this winter.
Large numbers of cases Of violation OF the
law prohibiting traffic in postage stamps
are now receiving the attention Of the Post
Office Department, and special agents are
hunting up offending postmasters all over
the country. Postmasters are forbidden 10
sell stamps except to the locality to which
their offices belong, but many of them yio-
late this law. One postmaster at a small
village in Virginia, has made profit Of
nearly 500 IN the last few months selling
stamps to Baltimore merchants at 10 per
cent. discount.
A new method Of mutilating silver cur
rencv is being employed by numbers Of
patent medicine vendors and others to ad-
vertise their goods and wares. of late large
numbers of coin have been received in the
Treasury which are stamped ON one side
with advertisements. The stamps used are
some sort Of die. which cuts letters and
yrOrds into the coin. In most instances the
name Of the owner Of the article advertised
i not cut on the coin. but the advertise
ment simply recommends a certain nos
rum ~ article As the coin Is stamped
only on one tide, IL can he passed very
readily. exposing only the perfect side.
This i q mutilstiOn Of the currency and a
violation Of the law.
The average life Of an English gold SOW
ereign i about eighteen years-that u. the
coin l0ses three-quarters Of grain IN
weight in about that length Of time. II
then ceases 70 be LEGAL tender II IL said
that OF the EI00O0o.OD Of British gold COM
ace, % uer cent. il worn down below tie
legal weight.
m Is thought an order for the RESUMPTION
81 the coinage Of fiTe-ceut nickels VII be
issued in a few days
The Bank Of Francc during the tscnl wee
silrv-. an increase Of t1113.000 gold. a1la e
decrease 81 $3.50 silver.
The governments expenscs a. 1orEtoEn
~ sid M 70 exceed 50 90. Congress j.
10 fre nstef ftr sl1O0 OF el20O.
A elnse personal friend q M. G r. Hunt
incfon. rho IL also e. large owner q Central
par7fr stnck SAYS there d 10 Truth what
erer n the nersuaper Soy that q tr1ltc
nrranrerneuf has been actually re-iectet
between THE Southern Pacifc. Ieras 4
Pacifr and MizsOuri Pecifc roads
DALLAS EXCHANGE AND CON
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