Arizona republican., 1902-04-18

name of the person or firm to whom it was to be sent. together with the ad- dress of such person or firm, and affiX a postage stamp in the space indicat- ed. After signing his name on the back the remitter would enclose it in a let ter to the person or firm, who would collect the same at the nearest post office upon proper Identification. Should the note not be transformed into check in the manner described it would circulate as current money as would any government note payable to bear CT.
 The object intended by the proposer of the measure is to provide a conven- | tent medium for the safe transmission of money through the mails to supple ment the use of domestic postal mon ey orders for small amounts. Also to supply the long felt and constantly in | creaSing want for a substitute for sub sidiary silver coins. which cannot be and to make unnecessary the sending, for the purpose of remittance, postage stamps, which are now the only me- dium therefor. Though domestic pos- l tai money orders are available and eX- ceedingly useful for the purpose of re- ! mittance, their procurement and pay ment are often attended with much in- convenience.
 That the proposed plan would be q great convenience to the public there ] is no question, the business which calls :or the transmitting of such small sums amounting, it is said, to about two billions of dollars annually. The fee of two cents represented by the postage stamp on the note, and of one cent by the postage stamp on the post check money would probably yield a large revenue to the government, suffi- ! cieHt not only to reimburse the cost of preparing the notes and checks. but to l leave q considerable surplus. It is claimed also that stealing from the mails would, by the use of these forms Of money. be prevented, for the pre- Gentor of the note for payment would require identification. The plan has the endorsement of the postoffice authori- ties and it will doubtless have the ap- proval Of the public when its provi- sions shall be fully understood. There are some objections, however.
 Though rObberies of the mail might 1 be prevented by the use of post checks l fraa al geries of endorsements would probably be much more frequent than with the | existing money order system. At the money order offices the clerks are ex- | lures, and, moreover. the system pro vides for the almost unerring identi- l fication of the payee of the order. Post masters generally do not have such eX- perience and, therefore, they would not be likely to detect forged endorsements. The use of the proposed forms of checks would for this reason most likely be attended with frequent and large losses
 to the payees. Still another objection
 to the issue of the post check fraction ! all money IS that II would tend largely
 to the substitution of this money for subsidiary coin, thus forcing this coin
 into the treasury. where it would be
 held as an unavaila ble asset.
 Until the public became familiar with
 the proposed checks there would be
 more or less confusion in distinguishing
 between endorsed checks which might
 inadvertently be circulated and the un-
 endorsed,- the former not being current
 while the latter would be available for
 continued circulation. There would al
 so most likely have to be great care
 exercised in banks and in large mer-
 cantile and other esta ablishments where
 the checks were received, in asserting
 out the current from the uncurrent
 checks. There would require to be
 close examination to detect irregular
 endorsements or imperfect compliance
 with the rules governing the use oi
 these instruments.