Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-10-14

The Majority Of the New Arrivals Very
POOr-The Draft System PatrOnized
by the Immigrants.
From the New York Times.

From the New York Times.
''How mnch money do suppose the immi-
grants who land here bring into the country
every year," said a money broker doing BUSH
ness in Castle Garden in answer to question,
the other day. That would be impossible for
any man to tell You see the bulk of it comes
in the shape OF drafts and greenbacks, the
amounts of which we have no means of calculat-
ing with accuracy. You may have seen in some
OF the reports on immigration printed in Wash
ington that each foreis ner brings an average
of $50, which is added to the wealth of this
country. But if lweretO makea guess | should
put the average at considerably less than
So Superintendent Jackson and others have
come to us and asked for statistics on this
point but we know. nothing about the means Of
the majority who pass through Castle Garden.
for the reason that they never come to u.s.
Years ago it was different. They would buy
their railroad tickets for the west here in the
Garden and then they would show their money,
and while they were about it they would change
what they had left for American money! In
those days the draft system was not patroniZed
as generally as it is now. But at present they
not only sell them steamship tickets at the Eu-
rOpean offices, but also railway tickets to their
points of destination. Then the immigrant
shows his money to the ticket seller. who induces
him to buy draft for the remainder, with the
exception Of few dollars for Incidental expenses
or spending money. Several years ago, when
business was not as good as it is now. and the
Immigrants who arrived were not as we'll Off as
those who land here now. our firm undertook to
figure out an average of the amount brought into
the country by each immigrant. We reckOned it
at So. 70 during the dull season and 81 IS during
the busy season. But now we would not I'M
dertake to guess at the average. great many
immigrants bring their money in greenbacks. 1t
is surprising how much money is carried abroad
or sent abroad in the shape of greenbacks, and
then comes back again in the possession of i'm
migrants Occasionally poor person whose
eyes are not very sharp will have q bad bill
passed off on him for lawful American money!
There was one very unfortunate case Of this
sort not long ago. poor fellow passed through
the Garden with one hundred dollar confeder-
ate bill in his possession. He had given gold
for this in shop in Berlin, where he was
making some purchases. Drafts are now used
very extensively by immigrants. Banking
houses in Europe have gone quite largely
into the business of supplying immigrants
with drafts. 1t suits the poor people, as it is
a very safe as we'll as convenient method of
transporting money from the Old World to the
New. The consequence is that the demand for
drafts is constantly increasing. The arrange
ment is also highly agreeable to the bankers
themselves. for the money is deposited with
them when the draft is purchased and in addi-
ton to the rate of exchange they have the use
of the money until such time as the immigrant
presents the draft for payment Some of the
people now exchange the foreign coin for Amer
lean gold and silver before they set sail from the
old country. This mode of exchange is also on
the increase so that only the odds and ends
come to us nowadays. And yet the New York
rate of exchange is smaller than that which Is
asked in Europe. Whereas we charge marks
% ptennigs for 81. the rate of exchange in the
principal German cities is from marks IS pfen-
nigs to marks so pfennigs. From all accounts
the latter rate of exchange seems to prevail
there. So you see that the poor people would
really effect saving if they would wait until
arriving here before they exchanged their money.
But there are so many people at home who are
anxious to make what little is to be got out of
the rate of exchange that the immigrant has but
little chance Of escaping with much native coin
i'll his possession.