The Anaconda standard., 1898-01-20

a scheme az postal checks which lie mas
/ placed before Secretary Gage of the
/ treasury, and which viii be presented
/ to congress at the present session, which
| seems 10 do away with most OF The OBJ
i jectionable features Of the present sys-
/ TENS Of money transmission by mail.
/ since il obViates the necessity ~ the
/ paying party visiting Ii postofIice 10 get
/ d money order or postal note and at the
| same time requires that he and not tile
/ recipient pay the fee. IT also insures to
/ the government a sure source Of reye-
! nue on these small transactions. since IL
4 requires the use OF ordinary 2-ceut post
age stamps and would result iii a toll
TO the government for every such eX-
change Of currency.
II is a reminder of the old fractional
currency in use during the war and vul-
carly called shin plasters," small paper
notes resembling the present silver GER
titicateS and bank notes. but Of diminu-
tive size. This fractional currency is
still sighed for by many old timers. who
object to carrying around load Of sill
yer currency, as $40 to $50 i'm fractional
paper money could be placed i'm a pock
etbpok on in the vest pocket and ear
ried a easily as is the change for 81 in
silver The advantage Of the post check
system over the old fractional currency
is that the former was payable 10 bear
GT like all money and IT Was not safe
TO send ii through the mail. Further
than that, the government received no
fee for the service save the ordinary
letter postage Under the system de-
vised by Mr.. Post the post checks are
payable only to The person named and
there Is a fee Of two cents to the gov
ernment on every one.
The system in brief is as follows:
The general government Is 10 print
post checks in blank, which VIII be on
sale in all postofiices. They will have a
they are 10 he paid a line for his adj
dress. a space for a tWn~cent stamp and
d line for tho name OF the sender They
are to lie issued for sums up 10 50 and
anyone who desires can carry any
amount Of them In his pocketboot as
money. When he wishes to send sum,
say OF 80 cents. 10 a publisher or
country merchant, he fills out 50-cent
check with the name and address of the
person to whom he wishes the money
paid. puts a two-cent stamp in the
proper space and then signs his own
name 50 that IL runs across and cancels
the stamp. BY that act the check
ceases to be a negotiable piece Of money
worth 80 cents to bearer and becomes
piece of exchange payable only to the
person named by the sender who has
paid the fee to the government by plaG-
ing a two-cent stamp on the check. The
check is then inclUsed I'm letter and
mailed TO the person named, who can
collect IL at his home postofiice. and no
other person. clerk or accidental finder
of post check can collect the money
save by falsely identifying himself at
the postohice named ON the check.
The feature which eummends itself TO
many concerning the proposed system Is
that the sender pays the toll on fee,
slight matter in each case, bur one ~
great importance 10 merchants and
publishers over the country who are
Obliged to pay exchange of small sums
on bank checks received daily for small
amounts Also a vast revenue would
accrue to the postal department in the
course of time from the volume Of these
transactions when the system became
better known throughout the country
The checks would be- redeemable at any
postnffice. but of course only hN the
person or firm named.
In the case of firms having large
daily transactions of this kind the
checks which would come IN the course
of the days business would be sent IN
| a lot 10 the pnstoffCe and redeemed by
| the government. which for this service
/ would, Of course have received the TWO
I cents toll paid on each one. If desired,
1 "a course the postofTice could redeem
with post checks instead Of money, which
would tend to keep the checks in eireu-
lation A feature which would he Il de-
cided advantage over the present paper
currency would be thai the checks
would alWays he fresh and new and
would not be liable To transmit MI
crahes of diseases from hand IL hand.
as Is the case With bank notes and sill
VpI. certificates which visit thousands
of pockets tils and other places in the
course Of five years circulation.