The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1890-01-16
NUMBER SO.
FRACTIONAL SILVER CERTIFICATES

The need Of the American people fO
fractional paper currency is one ths
cannot much longer be ignored. Sew
eral years ago an attempt to satisfy
demand that would not be silenced was
made in the establishing of the posts
note system for the transmission uf
The public clamor for a paper fractioDa
currency was thus quieted for a time,
but 1t was not appeased. Now that the
failure Of the postal notes to satisfy the
public needs has been thoroughly dem
onstrated by time, people are once NOR
declaring their desire, for q more con
venient fractional currency, with no un-
certain sound. The failure of the posta
note TO fill the place Of the convenienI
script in use prior to the resumption
OF specie payments was inherent In tn,
system itself and ought to have beer
foreseen from the very start. 1t is, frs
OF all. inconvenient, necessitating a visit
to the post Office III order to secure II
and consuming time which, with bus-
ness men is equivalent to money.
Again 1t is expensive entailing tax Of
three cents on every postal note, an i'm
portant consideration, when it is remem
bered that all sums 80 sent must be
within limit ranging between one cenl
and four dollars and ninety-nine cent?.
1t does not offer a single advantage tha
was not possessed by the old script. Il
lost it cannot be replaced and any
chance finder can obtain the money or
il. Can this system with its inconven
fence aud expense be considered faiI
substitute for paper fractional cur
rencyl We certainly think 1t cannot
The importance Of such a currency t.
the business interests of the country
cannot be over estimated. It would b,
appreciated by every business establish
ment in the United States which does r
business through the mails, calling fOi
the transmission Of money in fractional
parts Of a dollar. The last report of tht
Postmaster General, showing the greal
and rapid growth of this class of bust
ness is, in itself, the strongest kind of ar
argument Tor the existence OF a fraction
al currency suited to the needs Of Jht
times.
The carrying on of business through
the mails is only yet in it's infancy. /
is destined to make gigantic strides duI-
ing the next few years. Already tn.
sample busiress which large city firms
are doing through the mails, has reached
large proportions. The growth of the
publishing business has been enormous
and many other departs of industry
have found profitable means Of reach
ing the public through the same chap
mel. Many millions Of dollars are annu
ally carried through the mails in sum.
less than q dollar. Inconvenient and
expensive as the postal notes are thu
public has been forced to use them to Il
large extent while silver, itself, unified
as it 10 for Use in the mails, has been 81
employed very generally. One of tn,
most important needs of the hour is q
convenient paper fractional currency
and the statesman who brings praciI
cal measure before congress for provid.
ing 1t will win the gratitude of by NJ
means uncomfortable portion of tn,
business portion Of this country.
The most satisfactory way to meet thiI
demand for small paper currency woulC
he TO issue silver certificates for frac
tions OF dollar. BY this means the in
tereets Of the silver men would be in nj
wise effected, the certificate currency
would be established upon a secure bi
metallic basis, and would amply satisfy
the demands Of a large and rapidly
growing portion of the business inter.
ests Of this country. II there is an,
reason why such a system should not b.
adopted we fail to see it, and when SOM
such measure as this is brought forward
to meet the demands of the hour, W
shall be pleased TO give it most curdia
support.-Kennebec me } Journal