The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1883-03-14
THE POSTAL NOTE LAW.

The law authorizing the three-cent
postal note directs that its provisions
shall be put into operation by the Post
master General within six months after
its approval by the President. The act
was signed on March 3, and the postal
notes must. therefore, be ready for the
public by September 3, 1888 at the latest.
The Department 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 be
available at the opening of the new fiscal
year, July l, as the new law requires lit
tie additional machinery. Some time
win be consumed in advertising for pro-
posals for the new blanks, ETC.. that are
necessary, which, however, are to be fur
nished by the Public Printer and the Blu
reau of Engraving and Printing, if their
estimates are below those received from
private persons.
THE POSTAL NOTE DESCRIBED.
A 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 as a greenbacls. At the right
hand are two columns giving the months
Of the year, and the dates OF twelve years
beginning with the present. At the left
hand are three columns of figures. One,
representing dollars is numbered up to A;
the second, representing dimes is num-
bered up to O.; the third, representing
cents, is also numbered up to 0, and each
series ends with a cipher Tho note is
for sums less than So. The postmaster
at thu office issuing the note will punch
the month and the 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 one cent
up TO $3.50.
No written application will be necessa-
ny. The note win be bought like post
age stamp and will DO payable to 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 30 which it is sent. When paid the
person obtaining payment puts his sigma
ture npon the note.
SLIGHT DECREASE IN SECURITY.
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 is 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 trifiing
Importance. Ii 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 post
age 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 an
nual report Of the British Postmaster
General shows that 4,462, 900 of these
postal orders, amounting TO e2,008,9 OFT,
had been issued in one year. The aver
age time they were IN circulation was six
days, showing that there was no founda-
ton for the idea that they would be de-
voted to permanent use as currency.
OVER THE BRITISH SYSTEM.
The United States postal note, is, how