The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1888-09-29
STAMPS AS MONEY.
Currency That Was Apt To stick rogetho:
Hnd Adhere To the Fingers.


and Adhere To the Fingers.
Postage stamps were used rs cur
rcncy in this country shortly aftor tho
last war was bAun." remarked vct-
eran ilnanoicr 20 reporter tho othor
day. All coin was withdrawn from
circulation. and there was nothing 60
mako change with. Storokeopcrs IS
sued shinplastcrs in the shapes of pieces
of cardboard ON which were printed
the words: Good for ten conts. or
such other sum as might be needed for
the purpose, with the name OF the por-
son issuing them also printed. Other
houses had an imitation OF n bank bill
printed, of different denominations,
from five cents TO fifty All those things
passed current. and the storckccpors'
promise to pay circulated rs freely IA
IA bank note Storckeepcrs had thoir
crcdit 10 preserve and honorcd thoir
shinplastors whenever presented.
There was hotel on Fulton street that
issued notes or bills OF twenty-five and
fifty cent denominations. Thcy wore
well executed by IA bank noto printer.
and cost n largo sum 10 print. Tho
namo of the hotel appeared In the place
OF the usual bank namo. Beneath woro
the words; Tho propriotors of tho
above hotel agrco 10 pay on demand
twenty-five (or iifty) cents in meals or
accommodations, or In current funds
II presented in sums OF five dollars or
more The notos wcro signed Rich
ardson a Green propriotors Of tho
hotel, now both dead. Tho first named
told me, long aftcr the war closed, that
the firm had made enough in do
stroycd or retained notes, not prcscnt-
cd for redemption, 90 pay for the cost
of printing. besides gaining the accom-
modation in being ublo 20 mako ready
change
"But what has all this TO Co with the
postage stnmpP'
81 am coming 80 that There woro
times when smaller change was nccos-
snry, and the postage stamp was then
given, As thcro was somo rcspOnsi.
bility in the shape OF the National
Government for the issue Of postage
stamp. the people began To have moro
confidence In thcm than In the private
shinplastcrs. IL was also stated that
tho latter wcro issued I'm defiance Of
law, and no court could compel "A
storckcepcr 20 redeem them. Evcn cit-
les had issued these shinplastors, maxi
ing thcm rcdccmabe In the payment
OF taxes, and altogether the number
became grcut, and many Irresponsible
persons put forth mass Of worthless
paper on the market. As soon as dis
trust arose the working classes pro
fcrred postage stamps, and storekcop-
ers found them useful In making small
change. In n short timo tho,o were
thousands In circulation, aud work
ing-mcn were often paid by tholr en-
ploycrs In stamps done up In
envelopes liko those used to-day on
the onc-horso cars, the envelopes
having printed on thom tho amount
Of money matter inclosed. Often "A
man would on Saturday have from
$40 90 $40 In his pocket in postage
stamps. In warm weather they often
stuck together Then, II change was
wanted, there would bc trouble. Damp
fingers in handling would also cause
the samo annoyanccs, and whtlo as
change tho stamps were considered
convenient, yet NJ currency They wcru
pronounced nuisance. Tho National
Government, therefore, hit on plan
for the issuing Of n postal currency OF
the color Of tho stamps a iivc-ccnt
postal bill had tho representation OF n
fvc-ccnt stamp on its face, and n
twcnty-nvc-ccnt bill had five fvc-ccnt
stamps lying side by side and tapping
over each other. The color was orange
yellow. A tcn-ccnt postal bill had the
representation Of tcn-ccnt postage
stamp, and n fifty-ccnt bill five tcn-ccnt
stamps. arranged as before mentioned.
Tho color was green. These small
bills were rodccmablc In legal tenders
or grccnbacks when presented In sums
Of five dollars or more. After awhile
these bills drove out tho postage
stamps except for sums less than five
cents. But during tho tlmo tho stamp.
were IN general use the National Gov
ernmcnt must have made IA largo sum
! of money. as thcro were many postage
stamps destroyed IN more ways than
one, but principally by adhesion. Aftcr
awhile tho postal bills were Withdrawn
and tho fractional currency Issued H.
its place. These remained In use until
the restoration Of specie payments IN
tho shape Of subordinate silver. " "
u Il