The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-10-29
sHIPMENI a 49,.
Reasons way Bsnkz Prefer 70 ReEsii
Funds - Express.


rhefact that many southern and east
ern banks have recently used the reg.
istered mail service Tor the transmits
sion Of currency TO and from the bank
ing eenters Of the country has caused
considerable comment. The reason is
found IN the inability Of the banks to
secure this year, through the treasury
Of the United States. the benefit Of gog-
eminent contract rates from the ex-
press companies. Prior TO this year the
treasury gladly shipped currency to
banks at government rates, in return
for gold. In the last contract with the
express company, however, a clause was
inserted by which such privileges should
be afforded to the banks only when the
treasury needed gold.
The secretary OF the treasury having
decided that the treasury does not need
gold now, The banks cannot participate
in the advantages Of the government
contract aud to save transmission
charges country bankers have directed
their city correspondents to make ship
ments intended for them by registered
mail.
The cashier Of a large national bank
which ships many thousands Of dollars
every day TO its correspondents all over
the country, in speaking about this mat
| ter with a New York Evening Post re-
porter, said;
THE conservative banker still prefers
10 send money by the Weil-lmown eX-
press companies; but, to save expense,
since the government refuses to remit
for the banks any longer at government
contract rates, the country banks are
apparently willing to take the risk Of
transmission by registered mail with
the guarantee of an insurance com
pany's policy for its safe delivery. Not
Nithstanding. however, the registration
and insurance, the risks of sending
large sums of money by mail are very
great. A package of currency Which is
/ forwarded by the registered mail de-
partment of the postal service has no
distinctive mark indicating its value; a
pencil receipt is given for it just the
same as for any ordinary letter OF pack
age of merchandise. The package OF
money is thrown in with packages OF
merchandise Of all sorts, and no more
care is taken of it than is taken with a
box of shoes or a package Of gloves
The registry clerks receipt is not doc
ument that is as well known OF as salts
factory as the receipt Of the receiving
clerk Of an express company, and in case
| of the loss Of the package, the delay in
The recovery OF the money is intermin-
able.
"On the other hand, the express com
panies locate missing packages OF
money or make good the loss promptly,
without technicalities or delays. They
are responsible, and banks run no risk
! in shipping by them, Their employees
! are chosen solely on the ground of abil-
litv and tFustwoTthiness, and they are
therefore more likely to be more &C
curate and prompt than postal EN-
tDloves, who owe their places, more OF
LESS. TO politics, Notwithstanding the
lcivii service examination. While 1t is
TRUE that by insuring money sent by
registered mail there is some guarantee
against loss by non-delivery, it is equal
liz true that there is considerable risk
| Of loss if the insurance company stands
on tecbnicaIities. The slightest in
formalify in the observance OF the terms
| of an open policy issued by an insurance
company renders the policy invalid, and
/ would in the case of a missing package
cause the loss TO fall on the consignoF
The technicalities TO be observed by q
RENTING bank in sending money by
registered mail when the delivery OF the
/ money is insured by one Of the local in
sursnee companies are very great com
pared with the simple but safe methods
| of the express companies, and unless
| some new regulations are made by the
postal authorities for sending regis
: tered mail conservative New York banks
will certainly prefer to ship by eX'
press"
The cost of postage and insurance
saws the Post, is much less than thS
usual express charges at what are
known as bankers rates. Few New
t York bankers, however, would remit
money in that way, unless they were
directed to do so by their correspond
ents. They would rather ship it by ex
press, even though it cost more to do SO
: because they consider it the safer way
walters First Dip.
Walter T. was six years Old H'
never had seen the ocean. We were
to spend the-summer at the seaside
and Walter had a new bathing suit
. Every boy in the block was invited
: into the house to see him try it on, ant
lone day we discovered him in the bath
tub surrounded by an admiFing GROUP
of juveniles, 10 whom ne was ulseOuIs
ing about how he would dive from th'
end of the iron pier when be reached
the ocean. When the young man, how
ever. saw the ocean with the grea
waves rolling on the beach, he could
not be induced to go near it, and posi-
, lively refused to put On his bathing
. suit. One day his father offered hin
50 cents if be would put on his sui
q and get wet all over once. He wanted
: 1.-The money very much, and he fnall.
consented. Clasping his arms AROUND
his fathers neck like a wise, the gTea
/ undertaking was begun. After muci
p shiyering and trembling he was we
. about two inches above his ankles
, when he exclaimed: Papa! /
guess-f-will-only - take - ten -
cents h-this-time. Crypt.
LATE CYCLING EXPRESSIONS.
An awkward person is a WARBLER,
A gossip travels with a "lOOse sPrOch
/ 81 wheel ~