The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1890-01-09
Practical Silver Certificates

The need of the American people for o
fractional paper currency is one that can
not much longer be ignored. Several
years ago an attempt to satisfy demand
that would not be silenced was made ii
The establishing of the postal note system
for the trans mission Of small sums of
money through the mail. The public
clamor for n paper fractional currency
was thus quiesd for time but 1t was
not appeased. Now that the failure of
me postal notes to satisfy the public needs
has been thoroughly demonstrated by
time, people are once more declaring
Il err desire, for more convenient frac
'ional currency, with no uncertain sound
The failure of the postal note to Ill the
place of the convenient "script" in use
,rior to the resumption of specie pay
men,s was inheren, In the system itself
and ought to have been foreseeu from the
very start. 1t *, first of al, inconveni-
ent necessitatiug visit to the post Of
fee In order to secure 1t and cOnsumin.
time which. with business men, is equiv
alent to money. Again 1t IL expensive
entaling tax of three cents ON every
note, an important consideration, when it
Is remembered that all sums SO sent must
be within a limit ranging between one
cent and four dollars and ninety-nne
cents. 1t does not offer siugle advaut-
age that was not possessed by the old
script. II lost 1t cannot be replaced and
any chance finder can obtain the money
on 1t. Can this sy stem with its incpo
venience and exper Sc be considered fair
substitute for paper fractional currency
We certainly think 1t cannot
The Importance Of such currency to
h,xut ,t..rn nat &b.
not he over estimated. 1t would be ap-
preciated by every blu ,iness establishment
in the United States which does q bust
ness through the mails, calling for thu
the transmission Of money In fractional
Postmaster General, showing the great
and rapid growth of this class of bust
ness is, In itself, the strongest kind of an
argument for the existence of fraction
Al currency suited to the needs of the
times.
The carrying on Of business through
the mails is only yet In It's infancy. 1t Is
destined to make gigantic strides during
the next few years. Already the sample
business which large city firms are doing
through the mails, has reached large pro
portions. The growth Of the publishing
business has been enormous, and many
other departments of industry hav.
found a profitable means of reaching the
public thought The same channel. Many.
millions of dollars are annually carried
through the mails In sums less than dol
lar. IncOnvenient and expensive as the
postal notes are the public has been fore
ed to use them to a large extent while
silver itself. united as it is for use In the
mails. has been so employed very gneral
ly. One # the most Important needs Of
the hour is convenient paper fractional
currency, and the statesman who brings
practical measure before Congress for
proving 1t will win the gratitude of a, by
no means inconsiderable, portion of the
business interests Of this country.
The most satisfactory way to meet this
demand for small paper currency would
be to issue silver certificates for fractions
of dollar. By this means the interests
OF the silver men would be In no wise az
fected, the certificate currency would b.
established upon secure timetable basis
and would amply satisfy the demands of
q large and rapidly growing portion of
the business interests of this country. II
there is any reason why such a system
should not be adopted we fail to see 1t,
and when some such measure - this is
brought forward to meet the demands of
OF the hour. we shall be pleased to give 1t
q most cordial support.-kennebec Jour-
nal.