San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1883-03-22
POSTAL ORDERS.
Impsrtsst Changes !. tho Lam-rAs No" So@'
Chicago Tribune.


The bill which will most interest
the people next to the tax and ta "a,
bill, is the postal-note bill. This
bill authorizes the issue OF a postal
note, which will be very near ap-
proach for many purposes, to frac,
tional currency. Since the repeal OF
the fractional currency act, there has
been a general demand that congress
should provide some means for max
ing remittances of small sums through
the mails, which shall be cheaper and
simpler than the present money order
and advice. The purpose OF the post
al-note bill, which has just passed, is
to afford the greatest practicable safety
at the least possible expense. 1t is
believed the law just passed will
meet this urgent public want and
simplify to a greatextent the operations
of the money-order system. 1t was
the purpose of the trainers OF the bill to
follow as closely as possible the ex-
listing British system, and the issu-
ance of these postal notes has been
confined to the money-order service.
There are now in the United States
some 6, 900 postal money order offices
and 10000 post.offices. The postal
notes are to be engraved on steel
in style of art equal to the green
back or the national bank notes and
as compared with the printed money
order will be very expensive. This
care is necessary to protect the pur-
chaser. The expense of supplying
all the post-of1ices in the United
States with complete stock OF these
notes is one of the reasons why the
system is limited to the money order
offices. The issue of these postal
notes at so small fee, is consid-
cred at best an experiment. More
than one-half of the orders issued by
the money-order department at the
present high fees are for amounts
less than $40. The three-cent fee is
about the same as is charged in
England, where the notes are engrav-
ed for specific amounts. The new
law will be of great benefit to those
who are remote from banks and who
desire some safe and cheap way for
remittances in payment for
papers, magazines, books or merchan-
disc. The estimate of the trainers OF
the bill is that the net revenue of the
government will not exceed 1913, 900
on the $12O,OOO,O00 of business an
nually, and this makes no allowance
for cost of transportation of letters of
advice. The following IS the section
Of the bill.
That for the transmission of small
sums under SIS through the mails,
5he postmaster-general may author
re the postmaster at money order
offices to issue money orders without
corresponding advices on an engraved
:orm to be prescribed and furnished
BY him, and money order issued on
such new form shall be designated
md known as a "postal note,' and
. fee of three cents shall be charged
,or the issue thereof. Every post
master who shall issue a postal-note
Under the authority of the postmaster
general shall make the same payable
70 bearer when duly accepted at any
money order office which the remit
ter thereof may select, and postal
note shall in like manner be payable
to the bearer at the Office of issue;
and after postal-note has been paid.
the United States shall not be liable
for any further claim for the amount
thereof, but a postal-note shall become
invalid and not payable upon the
expiration of three calendar months
from the last day of the one in which
the same was issued, and the holder,
TO obtain the amount of an invalid
postal-note, must forward to the SUI
perintendant of the money order
system at Washington, D. c., togeth-
or with an application in such a
manner and form as the postmaster
general may prescribe, for dupi-
cate thereof payable to such holder,
md an additional fee of three cents
shall becharged and enacted for the
ssue of the duplicate.
THE NEW SCHEDULE.
The bill also provides for a modi-
ication of the money order system