Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1883-03-17
The New Postal Note.
Special Telegram to the Inter Ocean.

Special Telegram to the Inter Ocean.
The law authorizing the three-ceI
postal note" directs that
provisions shall be put into Oper.
| tiOn by the Postmaster General With
six months of the date of its approx,
| by the President. The act was signt
on March 3, and the postal notes mus
therefore, be ready for the public b
Sept. 3, 1883, at the latest. The depar
ment officials are not ready to state prt
cisely the time at which they can |
issued, but there seems to be no gOt
reason why they should not be availabl
at the opening of the new fiscal yea
July 1, as the new law requires little &C
ditiOnal machinery. Some time will b
consumed in advertising for proposal
for the new blanks, etc., that are neces
sary, which, however, are to be furnish
ed by the Public Printer and the Burea
of Engraving and Printing if their @,
Inmates are below those, received frOI
private parties.
MODEL.
of the proposed postal note is printe
upon the back of the reports of the com
mittees of both houses. 1t is about a
large as a greenback. At the RICH
hand are two columns giving tn
months of the year and the dates O
twelve years, beginning with tn
present. At the left hand are three col
umns of figures, one representing dol
lars is numbered up to four; the Sc cOnd
representing dimes is numbered ur. A
nine; the third, representing cents Il
also numbered up to nine, and e
series ends with a cipher.
The note is for sums less than S.. I
postmaster at the Office issuing the nOl
will punch the month and year, the
number of dollars, number of dimes
and number of cents in their respective
columns, thus preventing any alteration
of the amount or date. BY this system
the postal notes can be issued for any
sum from cent up to $3.50. No writ
ten application will be necessary. The
note will be bought like a postage stamp,
and will be payable to the bearer at any
time within three months of the last
day of the month of issue. The body of
the note is a form stating the office at
which it was issued and the office to
which it was sent.
WHEN PAID
the person obtaining payment puts his
signature upon the note. 1t is not
claimed that the postal note furnishes
the same elements of security as the
postal order now in use, where written
application is made, and where the
sender's name il privately forwarded to
the Office where the order is to be paid (;
but it is believed that its convenience
TO all classes of people will be so great
as to render the decrease in security of
trifling Importance. 1t is expected that
it will take the place for transmission
of money through the mails of the old
fractional currency. Since that was
withdrawn there has been no safe and
agreeable way of transmitting small
sums except by postage stamps, which
are not regarded with favor as currency,
or by the cumbersome process of the
postal order.
The postal note system has been in
use in Great Britain just two years
with great popular acceptance. The
last annual report of the British Post
master General shows that 4,452,920 of
the postal orders, amounting to e2,6OO,-
OF, had been issued in one year. The
average time they were i'm circulation
was six days, showing that there was no
for the idea that they would
be devoted to permanent use as cur
rency.