Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1892-02-07

Is OOund 70 grow more serious WIN 0ihS'
A circular in regard to the substitution
Of scrip for stamps or silver in remit
tances, issued by a Maine publishing
firm, says on this subject:
We believe that scrip was retired and its
place filled by heissuance Of four per cent
bonds 10 the amount of some 5O,OOO,OOO,
making the Government pay S2,OOO,OOO In
interest which was previously not asked, as
fractional currency was simply notes OF
the Government, payable on demand WIN
ont interest. As a matter Of fact, they were
never presented for redemption excepting
as worn out, and they were then re-lSSued
as new scrip. Besides the saving OF inter-
est. the Government has now fund OF
millions of dollars, which is 10 redeem scrip
which viii probably never be presented.
tits well known fact that without an
exception the various committees IN Con-
gress, which have considered this ques-
lion, have recommended the issuance or
some kind Of fractional currency, but have
never yet agreed upon how 1t should De
done il could be issued in dozens OF ways;
but the simplest way and that entailing the
least trouble is 70 issue 10 as demand
note of the Government and let II 90 at
that There is not a business man In the
United States out that recognizes the need
Of scrip. It is essentially necessary opeo-
ple using the mails, as il forms a safe and
convenient way Of transmitting small sums.
A postal note for which the exOrOlJant sum
Of three cents is ECharged gives no protec-
ton whatever 10 the buyer, any more tnan
If il were scrip. The trouble and delay OF
CashinE money orders prevents their gen
eraI use for small sums.
OThereis a strong and earnest desire, both
among buyers and sellers, Tor q return OF
the fractional currency. The purchase OF
postage stamps works an injustice 10 every
postOffiCe, as small offices are obliged 70 sell
them without receiving credit Tor their
work while the larger offices are COM
PEELED to do much work for which they re-
csive no credit, as they do not sell the
stamps. Every large mail dealer feels the
effects Of the stamp nuisance. Receiving
thousands and thousands OF dollars worth,
and being able 10 use but small part Of
them Tor postage purposes, they ind an i'm
mense surplus on their hands which they
are obliged 70 sell at large discount We
know Of no case where the discount is less
than two and half per cent. and II runs as
high as ten per cent. on stamps OF high de-
nomiDauon.
As the circular says, every business
man will readily recognize the need OF
fractional scrip currency. So long as
scrip was in circulation, no trouble was
experienced, comparatively little was
stolen from the mail, and, being light
as paper itself, it neither broke loose in
the mails, nor was a temptation to the
finger Of every person handling that
letter. Scrip was withdrawn, and then
Commenced the "Stamp nuisance. The
postal authorities soon saw how ii az
fected them, and to meet it they sue
cess.vely reduced the fees on money or
ders. and then invented the postal note.
For a piece of paper, marked any sum
up TO $500, the purchaser pays three
cents, which is sent TO his correspond
ent, who takes il TO the postotfce and
casheS it. In other words, at inconve-
nience TO himself, his correspondent and
the postOfliCe department, he has paid
three cents for piece of paper, which
gives him no security as to being paid to
the right person; is not replaced il lost
or destroyed; and which becomes value
less in thres months from its date-Or,
at least, requires certain lot Of red
tape formalities to secure a duplicate.
Checks, money orders, etc, all give
the requisite security, but the rate Of
insurance, when you pay the fees on
small sums beneath dollar mot to
mention the Inconvenience Of their use)
is very high. Thus, if you desire TO
send a money order of - cents, aside
from the great inconvenience entailed,
you pay cents fee, that is 20 per cent.
insurance for safety.
IL is, beyond question, fact that
there is and has long been very gen.
eral desire for some kind of fractional
paper money; that the lack Of it
causes a great loss and incOnveni-
ence TO business men in every part of
the country; that this inconvenience is
shared by every person that wishes TO
send money by mail; and that to minor
degree people prefer scrip to silver cur
rency for ordinary use, the same as
they prefer the silver certificate to the
actual cart-wheel silver dollar.
The Fifty-second Congress would do
popular thing if 1t would provide for
the issuance of fractional scrip, which
may be issued as notes on demand or on
the basis Of silver, geld, bonds, etc.
OF coarse, this would not carry with
it the abolition Of fractional silver cur
rency. Nearly quarter of century
ago there was a considerable popular
protest against the fractional scrip of
that time, because it wore out too quickly
ard note that had received much usage
would often be refused, and justly so.
But the conditions at present are diff
ferent. 1t is now question Of conven-
fence. There is probably considerably
more than a hundred times more money
in sums less than q dollar sent through
the mails to-day than there was Is or 20
/ years ago.
THERE is nothing like natural gas in the
/ house m make one read the news Of the ad-