The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-25
MISSIONARY
Methods by which Gs, 900. 900 n Year II DIS
tributed All Over the Earth.

Methods by which G5, OOO.O 900 n Year II Dis
tributed All over the Earth.
1t is estimated that about S5.oO0,o 900 a year Ia
sent abroad by the troasurers of the different
foreign missionary boards Of this country and
with such an amount the matter OF exchange
and other items Of expense becomes of consider
able Importance. This money is sent to all cor
ners OF the earth and the handling of it keeps
busy a great many clerks. In an article on this
subject the Church Economist says:
Each foreign board treasurer seems to have
his own way Of transmitting money to foreign
fields. Nearly thirty years ago the Methodists
adopted a plan which their secretaries declare
cannot be improved upon. The plan is this: A
secretary draws a three-day draft on the treas
urer Of his own board. This draft he mails to o
missionary in some part of the globe. The mis-
sionary cashes the draft at any local bank. No
missionary is permitted to draw on the treas
urer Of his home board. Only o board secretary
is authorized to sign a draft.
Some advantages OF this plan are: /. The saw.
ing of the cost OF u bank draft, because the sec
Rotary uses his own draft. Q. The saving Of in
terest while the money is in transit. 3. A gain
ing OF time. To illustrate the latter advantage
II is needful only to point out that. were a draft
purchased 4 at a bank. the money or its collateral
would OF course have to be forthcoming to pay
for it. Under the plan in use the secretary sends
the draft to the missionary whether he has the
ready money or the collateral In nand at the mo-
ment or not. One TO three months are required
for the mails 10 bring the draft back BY that
time the money is in hand.
The American Church Missionary Society,
which l. auxiliary to the Protestant Episcopal
Board OF Missions, two years ago adopted a plan
somewhat similar TO the foregoing. Previous to
that time it had been buying London exchange
and paying many dollars annually for the
same. Now the secretary issues u letter OF
credit to the treasurer OF the mission, in Brazil.
for example. On this letter the treasurer re.
cclving II draws drafts up to its amount, which
drafts he lvpfl "a Ghai nj HE local ha ~ af fha
current rate of exchange. The same advantages
in saving Of cost OF exchange. in interest, and in
time accrue as under the plan employed by the
Methodist board.
THE Presbyterian Board still uses drafts on
London. The Treasurer OF the Foreign Board
draw a draft on the English bank. In this bank
he keeps a balance by buying bills of exchange
here. IS interest is allowed on balances by the
London bank, little is lost except the cost OF the
bill of exchange. Under all OF these plans the
amount the missionary gets varies OF course
with the tuctuation in the exchange rate. For
Instance: In October. 1895. the Presbyterian
Foreign Board sent 2200to Brazil, and IL netted
1880 nilreis. Last October il sent the same
sum and IL Melted 5000 milreis, q difference Of
almost 200.
I'm Africa the drafts of the Methodist Board
are similar, in both appearance and availability.
to | nited states money. Some are issued for as
smal! n sur as twenty-five cents. They pass as
readily as currency all along the coast and in
many parts Of the interior. Often they are many
months. Ia some cases years. in being returned
to the home office for redemption"