Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1897-11-19
MONEY SENT BY n..
The Reasons Why tn. D.
to Remit nv n anks Pr,

me Baut.
n,,o 70 , Remit by Express P'sis
,,,, ~ mover feature in the shjnm...
currency to points Throughout ,Ss Of
try is the great extent to wh,as .a y coua
lstered mail service is be,n. The reg
that purpose. instead q, "" used 70,
ing shipped by express as v wa moaey BE-
~ the general custom. Tho s ISL lorner.
this is the inability of tho '. e for
secure this year. through tho oanks to
ury' the benefit of the yoyernm uo.Feas
tract rates for the exprcssaca ' con-
result OF that the banks haSs Asa
pay what are known as ban.a .aa to
to the express companies wh' rates
two or three times us great NJ ,ha aH
ernment-contract rates, or shin ne soe'
money by registered mai, p 'nel
Heretofore the treasury r,.
10 the banks the privilege Of ,h,n sa'e
currency at the governmept.co ,pplas
rates, or rather, shipped tho .u.. 'ao 4
for the banks at the goyerpmou. 'enNJ
In return for gold deposits A o,a .a''s
however. was inserted In the con,. u'e
with the express companies uh auaa
was last made by which sro,,
ileges should only be afforded - PRIV
banks when the treasury needed !. .' ,e
The discretion In the matter .a so'u'
emily rests with the Secretary "rl a.
Treasury. and he has seemnc,' 'ae
cided that the treasury does MT ~ w., u>
gold now. Consequently the h,a aa'
cannot have the benefit of tbo oa"' aN
ment-contract rates for expresses.
though bankers generally seem a.
think 1t would be better for tho t,o.s
ury always to take gold when Il a.'
without loss. The treasury rr~"
however. has not helped the eYnrss.
company very much, because nearv !"
the country banks to whom mono, -
RENTED. and who have to nav tho 49,.
Of transmission. direct their New W..
correspondents to ship the money h.
registered mail, and insure Its safa d.
livery In one or other Of the comnonl..
which make a specially of that bp,i
ness.
The cost Of postage and insurance !.
much less than the usual exnre..
charges at what are known a. hant.
ers' rates. Few New York bankers
however. would remit money in thu,
way. unless they We're directed tn do
80 by correspondents. They woua
rather ship it by express, even Though
1t cost more to do SO. because tbev
consider 1t the safer way.
If money is lost by an express com
pany during transmission, the loss /,
promptly made good. whereas, banker
say. 1t takes long time. and Ia .
troublesome task. to recover tho
amount when the money is lost In the
mails. The government is not respou
sible: 1t only promises to take greater
care of registered package. for which
the registration fee Of eight cents il
charged: 1t cannot or does not guaran.
tee its delivery or reimbursement In
case Of loss. The cashier of large ma.
tional bank which ships many thou.
sands Of dollars every day to Its CORE
spondents all over the United States
in speaking of this matter. said:
"The conservative banker still pre-
fers to send money by the well-known
express companies; but. to save ex.
pense, the country banks are apparent.
~ willing to take the risk Of transmits
sion by registered mail, with the guar.
antee Of an insurance company's policy
for its safe delivery. Notwithstanding
however, the registration and insur-
ance, the risks Of sending large sums
Of money by mail are very great. A
package Of currency which is forward
ed by the registered mail department
Of the postal service has no distinctive
mark indicating its value; pencil re-
ceipt is given for 1t just the same as for
an ordinary letter or package Of mer-
chandise. The package Of money Is
thrown In with packages of merchan
disc Of all sorts, and no more care IA
taken of 1t than Is taken with box Of
shoes or a package Of gloves. The
registry clerks receipt Is not dOcu
ment that is as we'll known or as salts
factory as the receipt Of the receiving
clerk Of an express company. and IN
case Of the loss of the package. the De
lay in the recovery of the money is In
determinable.
ION the other hand, the express COM
panies locate missing packages OF
money or make good the loss promptly
without technicalities or delays TheJ
are responsible, and banks run no risks
In shipping by them. Their employe:
are chosen solely on the ground o'
ability and trustworthiness. and tne!
are therefore more likely to be accurate
and prompt than postal employees, VINO
owe their places more or less to poliueN
Notwithstanding the civil service eAam'
ination. While 1t is true that BY 10.
surfing money sent by registered msl
there Ia some guarantee against loss "
delivery, it is equally true 'ns.
there Is considerable risk Of loss II 'ne
insurance company stands on tecnui'
calities. The technicalities to De Nv
served by a renting bank in senolas
money by registered mail when the &c
livery of the money is insured oy on.
Of the local insurance companies a,'
varv Uroo+ comma rod with the Slmps