The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1901-10-04
MUCH MONEY
IN THE POST
Increase in Order
Business Now
Done.

The money order business OF the
postoffices Of the Islands has shown
within the past year an increase In
the number of the orders issued which.
while it is not sufficient to make the
sum total for the quarter just ended
greater than for the equivalent period
of last year, is in fact an evidence that
the general business is much heavier.
During the first three months of the
ed States authorities. with the reduced
rate of exchange which Ii AFFORDED,
there was a general disturbance of the
exchange market. The introduction OF
the rate Of the postoffice, 80 cents
hundred, was so tempting that one
large business house bought $4,000
worth of exchange. AS the limit of
/ the size OF an issue under the United
I States regulations Is 500, this one or
der swelled the number of issues, AS
| well as the total Of business done. and
taking this into consideration there
will be evidenced much greater
growth than appears on the face of
the report.
During the three months ending Sep
TENDER Is, 1900, there were issued $3.50
domestic money orders, calling for
this year there were sold 4,16l orders,
the amount of money being involved
being $50, 625 80 Taking out the one
transaction of 800 issues, 10000 to one
house, as there was never again such
"a transaction, the growth of the gen
eral business done by the office is
shown. During this period the for
eign business shows most phenome'
nal increase. While last year there
were only 232 orders sold in the tire.
months, the amount of money being
s4,14S.79, during the present year ther.
has been a total of SIS, 162 SO, trans
ierred in 469 orders.
b. While these figures show grea
r business done by this Office in thu
e sending out of money. there is even {
r more tremendous showing in the loca
payments. There was only $17s,4S7 s
, paid out during the three months o
1900, but the payments which are rec
orded for the past quarter amount t
s47S,26S. 50. The numbers of paid order
} involved were, in 1900, 5,09l, and thi
year, 1859.
Honolulu is the clearing house 70
the other offices of the Islands, some
thing like sixty in number, and thes'
transmitted to the officials here during
the three months just past, $493, 49,, 8
in cash. This class of business has in
v creased to an enormous extent sine
. the national government took over tn
Q postal business. There is a constan
n stream of orders being cashed at tn
:, local office, and the business done take
the force on steamer days. Whil
there are no more of the extremel!
large transactions which marked tn
!. opening days of the advent of tn
United States system, the use made o
n the office here Is greater in proper
:, ton than in any ordinary office on tn
: Mainland. Mr.. H. r. Banks, the ex
pert sent here from Portland to organ
j. ize the business, says that the US
$ made of this branch of the service Il
extraordinarily extensive, and tina
a there are often orders for issues ag
, gregating 81, 800 for one purchaser.
Since the first few months the bank
have not felt the competition of thu
postoiiice in the matter of exchange
I The result of the Introduction of TIL
lower rates of the government had thu
e effect of cutting down the bank rat
, for exchange. The rate was made tn
, same as the postal charge to Sal
: Francisco, but to New York 1t wa:
7 permitted to remain at Slightly
= higher figure. Since the first furry
there has been settling back of the
business until according to one banker
there has been a complete resumption
. of the old course, and the belief Is
that there would be just as much
business done, if the former rates OBJ.
tanned.