The Portland daily press., 1898-01-22
A NEW INVENTION.
The Post Cheque EMay supersede Money
Order System.

Mr. G. ". Post of Battle Greek, Michi-
gan, has placed before few well-known
merchants. and also before Secretary of
the Treasury Gage, a form of postal do
mestic currency. that is intended as
substitute for the money order system.
a The Post Cheque, Mr.. POSTS device, is
no more nor less than fractional currency
in every day circulation, while the spaces
on the face are left blank. They are in
tended to replace theasilver coin, either
partially or wholly. When the individual
desires to send small amount of money
through the mail, he takes from his
pocketbook perhaps, fifty cent piece and
one-dollar piece, without more ado,
fills in tho name of the firm or person to
whom he desires the money paid, gives
also the name of the city and state, then
affixes a two cent postage stamp in the
SQUARE indicated, and thereupon signs his
name in ink, the signature traversing and
cancelling the stamp.
By this act pieces of money that up to
that moment have been negotiable and
have passed from hand to hand, are in
stantly transferred into pieces of exchange
payable only to the payee named, and the
toll or fee must be paid by the sender and
cancelled by his signature. 1t Is then
ready for inclosure in letter, and can
not be made use of by any dishonest
postal clerk, or other person than the one
named as payee.
It will be observed that the sender must
pay the feee, which is an important feat
ure to those merchants who have been re-
ceiving small checks by mail, upon which
they have been compelled to pay ten or
fifteen cents for collection. The average
individual esteems a common two cent
postage stamp as of trifing value, COM
pared with two copper pennies, and it Is
estimated that the governments receipts
for fees on Post Cheques, would be very
considerable amount in excess of the
present fees obtained, for the reason that
practically all sums sent by mail would,
under the Post Cheque system, pay toll,
whereas under the present arrangement it
is estimated that not more than one case
in ten yields an income to the govern
ment.
This plan would also dispense with the
need of money order clerks and the red
tape attendant upon the present clumsy
methods. 1t is proposed to issue the Post
Cheque, in five ten, en,sstwenty.fve and fifty
cent pieces, also in one, two and five dol
lar notes, their faces printed in suitable
form to allow of proper entries in ink by
the sender, and their backs in suitable
treasury note FORM
The faces will indicate in large figures
the denominations of the note. The Post
Cheques are to be redeemable at any post
office. The present method of large bust
ness houses is to properly sign money and
express orders, which are deposited with
the other pieces of exchange in the bank,
and at some time during the day the
bankers clerk collects the money therefor
at the post office. This will be the oper-
alton in large commercial houses, with
the Post Cheques. The postmaster pays
out new Post Cheques when he redeems
the old ones, and this method serves an
excellent purpose in keeping the notes
fresh and comparatively clean, as is the
case with Bank Of England notes.