Evening star., 1902-01-24
UNCLAIMED FUNDS
EFFORTS 10 EFFECT PAYMENT
Amounts Restored to Remitters in
Six Years.
HOW ORDERS ARE LOST

Unclaimed funds is always an alluring
title to the public. and perhaps there is no
more popular error, which has gained Gre
dsrce by going the rounds of the press,
than that there lies deposit In the vaults
of the treasury of the United States in
Washington the sum of about s2,J00.0O0 ac-
cJImulated by gradual increase in annual
deposits of the amounts of thousands Of
unpaid and unclaimed money orders, await
Ing claimants. like funds held by the En-
gilsh courts of chancery to which thou
sands of Americans believe themselves to
be entitled.
No doubt this belief has caused many
persons to rummage through their effects
stored in dusty garrets in the hope of turn
Ing up an old. forgotten money order or
two with which to assault this fund to
the extent Of the figures thereon.
Should their search be rewarded by the
finding of an old money order investigation
as to its prior payment will be promptly
made by the Post Office Department upon
dts receipt in Washington. and if it be
found to be unpaid the government will
pay the amount to the rightful claimant,
as the government is always ready to meet
Its money order obligations upon demand
ana proper identification of the parties.
Uncle Sam Pays His just Dues.
The government of the United States in
its money order transactions does not avail
itself of technicalities nor lapse of time,
as is the case with of the foreign
postal administrations. For instance. in
Great Britain money orders lapse as pay
able vouchers after certain number of
Years. and the funds thus oDtainabie revert
to the royal treasury, amounting. 1t is un-
derstood. to high as sJO.OOO in a year.
In discussing this mythical fund" in
this country and the disposition of un-
claimed and unpaid money orders with a
Star representative this morning Superin-
tendent j. T. Metchalf of the money order
system said:
1T is a mistaken impression the part
OF the public to suppose that there is a
segregated fund of this kind. Under
the acts of Congress of 1882 and 1894 the
department deposited at various times
s..2J0.0O of funds corresponding with the
amount of unclaimed money orders, and
10 doubt the impression thus got abroad
as to segregated fund. This money
covered into the treasury in the usual man.
ner. applied to the expenditures on the
account of postal affairs, and not kept
tied up to meet any demands which might
be made of the nature under discussion.
Unclaimed money orders paid out of
the ordinary and usual postal funds
hand by regular system
"A large portion Of the abOVe-named fund,
which was covered into the treasury.
CrUed from the amounts of unpaid money
orders existing prior to 1SS2. At about that
tine there was radical departure from the
then existing policy of the department as
to the payment of money orders Then in
formation concerning the payment of a
money order was withheld from the payee
and the remitter. and neither was informed
as to its non-payment. This was found to
b. mistake. and the amounts of these un-
ciaimed money orders necessarily accumu-
lated, as have stated
Every Effort Made to Eject Payment.
'Of late years every practicable effort
has been made to effect the payment of or
ders within the Shortest possible period
after the date of issue. The department
at present transacts a money order busi-
ness of nearly 100000 day. 1t is esti-
ma ted that the average money order is
paid within five days after issue, the aver
age order amounting TO about 81. There is
In transit therefore. of unpaid money or
Gers of about 100000 constantly. Post
masters are required to notify all payees
of unpaid money orders at their offices
within thirty days after the receipt of the
advice. and some go to even more ener-
Getic measures to have the people call and
Set their money!. The result is gratifying
alike to the public and the department and
<the number of unpaid orders has been
enormously decreased.
But the department does not stop here
In its effort 10 place the money either in
the hands of the payee or the remitter. AT
the end of year from its date, postmas-
ters send in all of the unpaid advices on
hand. technically known invalid ad-
vices. The department then undertakes the
task of trying to get the money into the
hands of the remitter. no stone being left
uEturned to accomplish this purpose.
This repayment. when the remitter is
located. is accomplished by what is known
as warrant These invalid advices aver
ag2 about 5000 a month, demonstrating
that out Of the s515.0S0,0O0 of money orders
annually issued and paid at present pay
ment is effected at post offices of all but
about s6O000 and this sum is greatly
scaled down by payments effected by the
means of warrants issued in Washington.
Reaching the Peoples Pockets.
How well this is done may be shown
briefly Postmasters have transmitted to
the department invalid advices to the
amount of $31T,1s3. In 1895 it restored to
renlitters s2T 900, and each succeeding year
the annual amount has increased until last
year We were enabled to hand back as high
sSS.00O. in all since 1898. S311 eco
leaving at present outstan nding only u few
thousand dollars.
The department considers that the issue
OF an order is a contract to transfer the
amount thereof to the payee, the considera-
tion being the fee, and the public may rest
assured that II the contract cannot be
carried out the amount will be refunded to
the remitter IL it is possible to locate him.
Money order funds are regarded in the
light of trust funds TO be honored when
ever the corresponding orders are presented
and ignorance of the holders OF such obli-
cations will not be construed as laches on
the part of the patrons OF the system IT
Is the peoples system and it is operated
Private companies and banks go to no
such extremes to place the money in the
hands of the people as does the govern
ment. II you do not call. you do no. se;
the money. Private concerns have ::lilIions
of unclaimed deposits The government de-
sires TO effect the interchange of money
among the people with the greatest pcssi-
bic dispatch and these few figures reflect
the thoroughness with which We succeed in
doing
How Money Orders Are Lost
Why are not money orders presented for
payment? Oh fer various interesting rea-
sons Many persons. particularly thcatri-
cal people. showmen travelling mcr and
others on the go. buy orders PAYABLE to
themselves, which not known OF and
never presented by reason of the death ~
their owners Other orders are lost in sbin
wrecks and accidents on the rail when tbe
orders are burned or lost, and they ,Ilsan-
pear from variety of causes, from forget
fulness to indifference TO ask for paymspt
During the close and shortly after iha