The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-27
A MONEY ORDER SUBSTITUTE.
The Proposed Post Check system
Viewed With Favor.

The proposal to use pest check money
as convenient method of making pay
ments through the mails, is received with
much favor by officials of the postal de-
partment. The simplicity of the system
commends itself to them. and they be-
lieve that it would prove popular with
the public Advocates of the post check
money declare that 1t would almost do
away with the present rnoney-order svs-
TEN. Such prospect is not viewed with
dlspleasure by officials for the money
order service has not only proven cum
bersome, but it has been run at a loss to
the Government.
The post check morey plan gouId in
volve a reissue of all the paper currency
now issued by the Government in de-
nominations of $40 or less. 1t would pro-
vide for having blanks left on the face
OF each note. in which the name and the
address OF the pavee could be filled. So
long as these blan were left vacant. the
! Dill would be merely an ordinary piece
OF currency, payable to tn. bearer Sup
pose, however, that a person wished to
send So through tho mails In payment of
some bill. By taking ne OF the So notes
from his pocket and filling the blanks
with the name and the address Of the
payee, he would convert il into a check
on the Treasurer of the United States. By
way of paying the fee for the service. it
is proposed that the sender be required
to affix to the check a 2-cent postage
stamp. and cancel it in the same way
that internal revenue stamps are cancelled
The note, transformed into a check could
then be sent by letter to its destination
The receiver. by, taking it to the nearest
postofiice, could get it cashed at par. The
check would b. payable to no one but the
person md
masters would require Identification in
the same way that they now require il
from persons presenting money orders
After having been paid the note would be
destroyed by the Government, which would
be authorized to reissue a new one in the
same fashion es is in vogue for reissuing
mutflated curr incy.
The scheme is proposed as a decided
convenience to all classes of people. The
notes would circulate from hand to hand
as freely as they do at present until
needed for making a payment by mail.
Then by filling in the name OF the ad-
dressee, the bill becomes a check. payable
only to the proper person or his order.
The system was invented by c. W. Post,
a Battle Greek, Mich, man, who has been
widely identified with grain foods He Sc
cured the introduction of a bill in Con-
gress during the last days of the past
session. but it was not put through, and
in fact received little attention.
Auditor H. A Castle, of the postal de-
paTtment, is much pleased with the propo-
sition. 81 should like to see it adopted"
he said yesterday. Not only would it
prove a great convenience. but it would
relieve the department of much labor in
auditing the money order accounts. Aside
from the doubtful propriety of having the
Government engage in a private business
enterprise such as issuing the present
on at a steady loss. The fees fFcm the
on the project. This post check money
system seems to be free from those de-
fects. 1t would not require auditing. The
postmaster at the end of each day could
collect all OF the post checks which he
had paid, and then turn them over to the
nearest national bank with which he
makes his deposits. The bank in turn
would turn them into the nearest sub
treasury as mutiiated currency is turned
in, and that would end the whole opera
ton. The fee OF two cents on each Of the
checks should prove sufficient TO meet all
the expenses of the system.
officials of the Treasury Department,
while not advocating the proposal, are not
opposed to it. The plan would rot affect !
the currency system of the country since
it calls merely for re-issuing in new form
the notes now in circulation. 81 do not
see an objection to reissuing n part OF
our 81. 81 or S. notes. so that they could
be used as post checks said Assistant
Secretary Vanderbilt Of the Treasury De-
partment yesterday.