Evening journal., 1900-05-18
MAILABLE NEGOTIABLE CURRENCY

One of the many bills now pending in
Congress is what is known as the Post
Check Money bill. 1t was introduced
to the Senate by Senator Mcmillan, of
Michigan, and to the House by Repre-
sentative Lentz, of Ohio. The intro
ductions We're made simultaneously on
March l6. and the fact that in one
house IL was introduced by a Repub-
lican. and in the other by a Democrat,
robs It Of all partison taint. IL was
framed in the interest Of commercial
organizations, newspaper publishers,
manufacturers, merchants, farmers and
private citizens. BY its provisions ne
gotiable currency instantly is made
transferable into safe money for trans
mission through the mails It really
transforms the ordinary 81, 81 and So
bills into money orders by leaving
blank spaces on their face for the in
sertion Of the name of the person to-
whom they are sent through the mails.
Two-thirds of all the post offices in
the United States are not money order
offices. Such offices are among agri-
cultural communities. where it is es-
pecially inconvenient for the citizens
TO secure safe money 10 send in the
mail. It is proposed to reprint all 81,
81 and s. bills now in existence,
and have their faces provided with
blank spaces Each Treasury note, coin
certificate. silver certificate, or other
form OF currency OF 81. 81 and
IS denomination, will be replaced
with a post check note of like denom-
ination, based on the same foundation,
and existing under the same law as the
note retired, thus in no way changing
the present financial system Of the
government This money, with the new
face, will pass from hand to hand in
the ordinary transactions of the day.
Then when one wishes to send money
in small amount, 81 for instance, by
mail to subscribe for magazine or
newspaper, pay a bill, or transact any
Of the multitudinous pieces OF busl-
ness necessary by letter, he will take
a 81 bill from his pocketbook write
on its face the name OF the person OF
firm to be sent to. the city and state,
' and afiixing a two-cent postage stamp
in the square indicated (One-cent
stamp for the fractional bills), sign his
! initials in ink, with date; the initials
q and date to cross and cancel the stamp
Thus the piece Of currency which, ur
to this time. has passed from hand "a
hand a negotiable money, has been In.
!, stanty transformed into a personal
check on the United States Govern.
. ment for 81. as safe for transmits
i sion as any piece of exchange. This II
&c enclosed in a letter to the person ol
: firm desired, and when received is de
~ posted with other checks, in the bank
- or can be collected by the receiver upol
,s identification at bank OF post Office
IN The tedious and incOnvenient trip 4
n the post Office to secure money orde
e. is done away with. and a convenient
S, transmissible money is supplied, wit
b. which the American public can trans
act business by mail, which now az
gregates, in the small sums represente
by enclosed postage stamps, silve
x pieces, money orders, express order
~ and other inconvenient and sometime
re unsafe mediums, upwards Of billio
is dollars per year.
he The farmer who desires to send
r. small sum through the mail will not I