The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-25
Post Check Money .

excited less attention than 1t deserves
is the Mcmillan bill to establish post
check system. No action on this bill is
possible at the present session. but 1t
will hold Its place on the calendar. and
IL sufficient public pressure is brought
to bear there may be an opportunity to
procure its passage at the next session.
converting in December. If the busi-
ness men of the country should faml-
iarize themselves with the details Of
this measure, the probabilities are that
they would be 50 strongly impressed
with the merits OF the proposed system
that they would interest themselves
with sufficient earnestness to help Is
passage. The advantages are apparent
on the face Of the bill; the disadvan-
tagss, II there are any, are not in evil
been advanced from any source against
the simple and ingenious solution Of one
Of our smaller but annoying business
problems.
Everyone realizes that there IL at
present no adequate. convenient and
inexpensive method of transmitting
small sums Of money through the mails
Postoffice money orders are relatively
expensive, and their procurement in
wolves the expenditure Of time out OF
all proportion to the amount involved
The old "shinplasterB' Of war days.
with all their other Objectionable fea-
lures. at least were convenient when Il
became necessary to send small sums
by mail. and their retirement has left
nothing to take their place for this par
ticular purpose.
The scheme Of postal notes. proposed
by the Mcmillan bill. provides simply
for the retirement Of all Of the bills now
in existence OF the value Of IS and I'M
der. and their replacement with the pro-
posed post checks. $50, 900. 900 OF the
the denominations OF 5. 10. Is. 25 and so
cents. These post checks differ in no
wise from any other bills save that
blank lines are left on them, in the form
customary on checks. With these
blanks not filled out. the bills circulate
as other currency. When it is desired
to transmit a bill through the malls,
the blanks are filled with the name OF
the payee and the signature OF the hold
er. The note then ceases to become cur
rency. and is check on the govern
| ment, payable at any postoffice or gov
eminent depository. When presented
for payment, each note is retired, as any
other check. and new notes are issued
to keep the supply in circulation prac-
tically constant.
The advantages are readily to be seen.
Each bill of this character. as currency.
circulates freely. so that supply is al
ways available. without any unneces-
sary trouble. for the secondary use as
checks for transmission by mail. Post
age stamp. affixed to each and can
celled when the notes are used as
checks. are sufficient to compensate the
government for the additional work
caused by the issuance and retirement
OF these notes. and the cost is very
much less than that OF money or
ders There is the same safety in trans.
mission through the malls as In ordi-
| nary checks or drafts for as checks the
notes are valueless save In the hands Of
the payee or his endorser. But by far
the greater advantage in their use will
be the convenience OF having always
available a currency which can be
transmitted through the mails in small
amounts. without the expenditure Of the
time necessary to procure a postoffice
order, or without resorting 10 the clum-
sy and Objectionable method. now large
ly In use, Of using postage stamps as
substitute for currency in small none
tary transactions.
There may possibly be latent OBJ
jections to this apparently simple ana
ingenious plan OF meeting a pressing
need II there are such. they have not
been developed in the discussion OF the
measure, which, by the way. has the
endorsement of the postoffice authori-
ties. This latter fact is the more re-
inarkable and the more 10 the credit Of
the plan. because the scheme originated
outside OF the department, and is the
invention OF a man not in the postal
service. who has offered it to the gov
eminent gratuitously. asking and ex-
pscting no reward for his services TO
the public.