The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1900-07-17
RIFT Mr.. LOOP DENIES 1T
=, defends the Express Money Or
der System.
c.yynSN INTEREST OF THE PEOPLE
..4 Gives Them a Cheap and Safe Method Of
f.ohaqge Where They Have no Bank
ing Facilities. The PROPOSE
ton to Tax.
ton to Tax.

...nr Bankers convention, held in
...oro about the middle Of June,
viz. 3 p SAWYER, president of the Bat
Park Bank, at Asheville, deliv-
..'t am address in which he declared
.a., .tL4 province of the bank has
...n roladed' and the express money
.,re. is ~encroaching upon the terri
.r. eff the bank exchange"
T., the course of his argument he
u.a.,arcd the privilege and other taxes
,afd by banks and express companies
j., this State. and added: "If this
n.muanv lSouthern ENpressl is go
inc ro carry on a portion Of the bank
..l lusiness. they should pay a privi-
L.r, tax for so doing"
Mr.. Sawyer urges his fellow bank
app. not to sit quietly by and permit
+ni. u~urper to quietly enjoy the prof
~. which Iegitimately belong to u.s."
III. ~raunselS a fight against it. and
raa.1 carry the fight into the law
7.aL-ng body of our State
Fhi~ address has stirred up the eN-
rr..s people. and yesterday Mr.. Chas.
InIn. traffic manager of the South
,ru EXPRESS Company. sent to the Cor
s.ration Commission of North Caro-
ina the following reply to Mr.. Saw
yer:
have read the address of President J.
p SAWYER, president of the Battery Park
hank of AsheviIle, at the recent meeting
Of the North Caroline Bankers Associa-
ton.
l.. The course of Mr.. Sawyer's address,
BE remarks: express companies are
rcseassing on cur ancient and usurpins
our time honored prerogatives. The ex-
press money order is encroaching on the
territory OF the bank exchange
and then Mr.. Sawyer attempts to state
the amount of taxes paid by the Southern
rvuress Company in the State Of North
Carolina for the privilege of doing bust
ness within that State. and he only quotes
about one-fourth Of the amount that the
express company pays as a privilege tax.
Then he says every office of the express
company that issues money orders should
pay q license tax.
Now this question was submitted by the
bankers through very able counse to the
law officers Of the United States Treasury
Department.. and after careful considera-
ton il was decided that the express money
orders we're part of the express business
and did not constitute banking.
But where and when did Mr.. Sawyer find
out that he is injured, or that others
are injured by the express money order?
Let us take his town of Asheville,
from which you can send money through
four different agencies, viz: The TWO
banks. the pOstoffice, the express office.
Now. suppose. for illustration, that the
$1,000 - no rrinI ont n
The express money order is taxed out OF
existence, what would be the effect OF
Mr.. Sawyer's bank?
The Southern Express Company receives
an average revenue of $1,000 per month
ror The money orders issued at Ashe-
Vile.
Disseminating the express business, per
haIs most Of it would so to the pcstoffice
l.t assuming that it was equally divided
it. would give Mr.. Sawyer's bank {
monthly revenue of s3.43 per month
against which the expense of doing the
business must be charged.
Vow for this amount, should Mr.. Saw
yer Sight us at his home or into the law
making body Of the State?
But there are only 6S places in the
State where there are banks, and there
a:" all agencies of the Southern EX'
press COMPANY in the State, through
which money may be RENTED by the eH
iFnas money order system. Thus there
age 40 places in the State where you
cannot buy a bank draft, but you car
seHd by express money order.
Would Mr.. Sawyer shut up all these "A
'@tteas Offices and deprive people Of tn
'oaVa nience now afforded them?
What is the express money order sys
lem anyhow? 1t is simply a reductio1
m the rates formerly charged for trans
N"-l.u& small sums by express. 1t IS
means voluntarily provided by the Elk
press Company solely for the purpose c
"~-nTIIng a great public convenience q
reduced expense, and it is eXpecte
p" io.ularize the express service, and
J. OCULAR except with a small minority {
bankers who have been misIed by readin
liz" literature promulgated b. intereste
Hetaons into believing that he is a sui
tog-r.
'he gross revenue from express none
''..Is from North Carolina for ore yea
=a.,a2i 10. out of which must be pa
1"@ expenses.
'-'#e money orders represent none
.'"I 10 all parts Of the United States, an
money has to be RENTED and expense
incurred.
'"l suppose there was not a cent of e.
'..' incurred or any further trouble II
'''4 IMAM to take in the money, al
We divide the whole amount betWee
are il banks, they would get $37.15 eac
"0' II the express companies did NJ
.'a'7h these facilities, there is no ref
Owl" 10 believe that the business wou
80 10 the banks.
ne average amount of a money ordt
>I''oo' and the average revenue on
",-'y order is less than Z cents.
dlscor1inuancc of this busine:
.0'la be greater loss to the public thu
" me express companies.
nOLl II the express company discontinu,
' business, a good deal of the mons