The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-01-09
DRAFTS ALWAYS HONoRED.
How Naval Paymasters Obtain Funds
in NOreign Ports.

How Naval Paymasters Obtain Funds
in Foreign Ports.
The cost of running ship of war is
enormous. To keep a first-class cruiser
like the New York in commission means
an expense of $500 day, including the
pay of officers and men. Yet it is not I'M
common for Warship to start for for
eign port with hardly a penny in money.
This is matter of no Importance, mas
much as no cash can be spent on the way
over, and as much as may be needed can
be got at once on reaching the other side.
On arrival the paymaster on board the
ship makes out bill of exchange on Lon
don, which is drawn to the order of the
commanding officer of the vessel and in
dorsed by him. This is sold for gold, or
paper money if preferred, at any bank
that may be convenient.
There is no corner of the world popu-
lated by civilized human beings where
such bills of exchange may not be nego-
t1ated readily. The signature of the naval
commander and paymaster are good for
any amount, because Uncle Sans credit
is behind them. These two officers could,
If they so wished, draw several millions of
dollars out OF the treasury of the United
States by signing their names few times
to bills which foreign banks would eagerly
buy. OF course, they would do so at the
cost of their com missions and of punish
ment under the laws if they were caught.
The present paymaster-general of the
navy was in japan many years ago. He
was paymaster of one of the ships of the
Asiat1c squadron, and his authorization
was to draw for what funds he needed
upon Jay Cooke IL Co. Unfortunately
news had Just arrived of the failure of Jay
Cooke.
What was to be done9 The cashbox
nd
just arrived in port were expecting imme-
date payment of what was due to them.
With an anxious face the pay officer pre-
sented himself at bank and offered his
credentials. He explained that he wanted
to draw trifie of $50, 900.
ION whom do you make the draftT'
asked the polite cashier, carelessly.
II have orders to draw on Jay Cooke e.
Co., New Y York." replied the paymaster,
"but have only just learned of the sus-
pension of the firm, and you will doubt
less realize my embarrassment"
Draw away" said the cashier,
"You mean that | am to draw on a bank
that has suspended payments2" exclaimed
the pay officer.
why, certainly; and / will cash it for
you" responded the cashier. "You can
draw on sandbank if you wish; the draft
will be just as good from our point of
view"
wv y" AoSo'eAeo hon us dSIOnlSn-
ment the paymaster received the gold.
stutfed 1t into bag which he had brought
and accompanied by marine who had
come along as guard took his departure.
Officers and men of United States ships
in home waters are usually paid in paper
money, because it is most convenient to
handle. When vessel starts for the West
Indies or for South America the paymaster
is apt to take supply of gold with him
say $50 600 or $40, 600 in half eagles, eagles
and double eagles Our gold coins are ac-
cepted as legal tender IN those parts of the
world. When a naval pay officer draws
money he gets it from the nearest sub
treasury, and he receives it in Whatever
shape he wants-gold, notes or silver. The
cashier of the treasury told the writer yes.
terday that the request of paymaster in
this regard had never been turned down
up to date.-New York Mail and Express.