New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-08
THE POSTAL NOTE LAW.

iDrscpIpTIoN OF THE NoTE-ADvANTAGEs OF TIE
PIAN-sUpERIoR TO THE BRITISH SYSTEM
fBY TELEGRAPH TO THE TRIBUNEJ
WASHINGTON. March THE law authorizing tne
three-cent postal note" directs that Its provisions
shall be put into operation by the Postmaster-Gen-
eral within six months after the date of approvai
by the President The act was signed on March -,
and the postal notes must therefore, be ready for
the publio by September g. 1883, at the latest. The
officials are not ready to state precisely
the time at which they can be issued but there
seems to be no good reason why they should not De
available at the Odening of the new FISCAL year,
July l. as the new law requires little additional
machinery Some time will be consumed in adver-
tising for proposals for the new blanks etc.,
that are necessary, which, however are to be fur-
mshed by the Public Printer and the Bureau OF En-
craving and Printing if their estimates are below
those received from private persons.
THE POSTAL NOTE DESCRIBED.
model of the proposed postal note is printed on
the back of the reports of the committees of both
houses 1t is about as large a greenback. AT the
right hand are two columns giving the months OF
the year. and the da es Of twelve years beginning
With the present At the left hand are three
columns Of figures One, representlns
dollars, is numbered up to A the second
representing dimes, s numbered up to y; the
third representing cents, is also numbered up TO "
and each series ends with cipher he note is 'or
sums less than So. Tie postmaster at the Office
issuing the note will punch the month and the
wear. 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 Ior
any sum from cent to $4 90.
No written application will be necessary
The note will be bought like postage
stamp aud will be payable 10 the bearer
at any time within three months from the last day
Of the month of issue. The body of the note is
form stating the Office at which it is issued and the
Office to which it is sent When paid the person
obt aiming payment puts his signature upon the
note.
SLIGHT DECREASE IN SECURITY.
IL is not claimed that the postal note furnishes
the same clements of security as the postal order
now in use where written application is made and
where the senders name is privately forwarded to
the office where the order is to be paid but 1t rs be-
leved that it's convenience TO all classes OF people
will be so great to render the decrease III security
of tIif;rg Importance. 1t is expected that 1t VIII
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 agree
able way OF transmitting small sums except oy post
age stamps, which are not regarded with favor as
currency, or by the cumbersome process of the
TIE postal note system has been in use in Great
Britain just two years with great popular accept
ance The last annual report of the British Post
master-Genera shows that 4, ,462.920 of these pos
tai orders, amounting to f2,0O6,9l7, had been
issued in one year. The average time they were IN
circulate was six DAYS, showing that there was no
foundation for the idea that they would be devoted
TO permanent use as currency.
SUPERIORITY OVER THE BRITISH SYSTEM
The United States postal note 49, however, better
adapted to popular in several respects than the
British postal note. The note, costing cents,
can be issued as already stated for any sum from
cent up to $4 80, while the British notes can be
issued only for ten fixed amounts from shilling
to 20 shillngs no provision being made for inter
mediate sums. Our postal note will require on a
single blank form, while the British system calls
for ten different blanks for the ten grades of orders
The fee for the lowest British postal note is half
penny for the highest. pence. The fee for |
United States postal note will be the same in all
cases up 10 $5-3 cents
The new rates for postal orders, which TO some
extent reductions existing rates are as follows
For orders not exceeding $40, cents between Sl0 |
and $l5, 10 cents; between $l5 and $780, 10 cents;
between $50 aud $40, 20 cents; between $40 and |
$50 25 cents; between $50 and $50. 30 cents; be-
tween $50 and $40. 80 cents between $40 and $50,
40 cents; between $50 and 500, 45 cents. No |
money order is to be issued for greater sum |
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