Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1902-04-24
POSTAL CURRENCY.
Novel Proposition Submitted to
the Nations Legislators.
UNIQUE SYSTEM FOR USE IN MAILS

Into Tndorsab1e Ckecls-Cf Great
Busitess Va1ue-Plan Invented by |
q Private Citizen and offered to
Government Free of Cost.
A unique feature in congressional
legislation this winter is presented in
the promotion Of a postal currency,
says the Washington Star. The sys-
TEN has the approval of many officials
and is Endorsed by a long list of man
ufacturers and business houses
throughout the country. Publishers
and farmers are especially interested,
In that the new currency promises an
easy way for a man in the country to
promptly send remittance for his ia
vorite publication.
The provisions of the "post check"
currency bill, now before congress-, in
troduced in the senate by Mr.. McMil
Ian and In the house by Mr.. Gardner
Of Michigan, provides for printing the
one, two and five dollar bills in the flu
ture with blank spaces or the face.
These bills Of curse pass from hand
to hand before the blanks are filled.
wv AOA IL IS OOS11SO ~ SOlu OuS LII IAS
mails, the blanks are filed in with the
name of the payee, his city and state,
a two cent postage stamp is placed in
another blank space and Cancelled with
the initials OF the sender in ink, the
name Of the sender is signed on the
back and, presto! his money has sud-
denly ceased to exist as currency and
has been transformed into a check on
the United States government, having
all the safety Of any bank check and
ready for Enclosure in his letter. When
the payee receives this check, he treats
It Just as he would any other check
Endorses it, goes to the nearest bank n
| postofice and deposits it or has it
cashed.
The paid check finally reaches the
treasury department., when it is re-
| placed by a new one with the spaces
| untitled. This keeps the circulation at
par. No change whatever is made in
| the financial policy Of the government.
the only change being in the character
| Of the printing on the bills Of So and
under.
The bill also provides for the issue Of
$75,O00.COO of fractional currency with
blank spaces similar to the larger de-
nominations in place Of an equal
amount of money of larger denomina-
tons, presumably twenty and fifty dol
lar bills. The provision under the new
| system for a continual reissue insures
clean money both in the fractional cur
rency and in the larger bills. The gov
eminent fee of the five, ten, fifteen,
twenty-five Inc fifty cent pieces is to
be a cent each.
Perhaps in no better way can the
reader come to understand the press
| ing need for postal currency than to re-
/ call the times without number when
he himself has been DESTROYS of send
ing a small sum OF money through the
mails with safety. Always in such
cases comes up the barrier, and only
the persistent one will carry out his
purpose by using stamps, coin placed
in holes in pieces Of pasteboard or risk
ing loose money. The average person
will not expend the valuable time re
Quired for the journey to the postofflce
for a money order. Only the pressure
Of necessity in the absence Of a simple
convenient system brings to the money
order system its present patronage
Statistics show that from ten to twenty
times the number Of letters received
by business houses, publishers an6
others who do q large business through
the mails contain stamps, loose none.
or some other representative of none.
than contain money orders, a cleal
enough mark of the d1sapproval of tn
public.
While it is not thought that, If adopt
ed, the proposed system would entirel.
supersede the money order system, be
cause for amounts over $50 the none.
, order would be slightly cheaper, 1t l
thought by the advocates Of the pend
ing bills tha such a system Of pos
checks would prove a great convenienc
. to those desiring to send small amount
Of money through b mails and woult
result In gain to merchants, publisher
and business firms who now receiv
such remittances in the form Of stamps
: often torn and mutilated: drafts O.
small banks or loose coin in letters, a
ways a temptation to postal employees
All of these forms of remittance enta
some loss, in many cases to the re
ceiver. and to that extent perhaps
creditor is u~njustly defrauded. fnnt
- Gently it may be, by the debtor. u
der the new system these troublesom
and unfair methods of making rem1
Ia tances would be M away with, oV
ing to the simplicity and ~conveniens
OF Of the post checks, and the cost
v, sending the remittance would {
II placed where it properly belongs-wit
F." the sending debtor or the person ma
ing the purchase.
A somewhat unusual feature of tt
post check proposition is the fact thu
the inventor is a successful busine:
/, man who mas for years realized Il
V urgent necessity for a simpler way
" making small remittances in the mai
IS. ..a - h.. dovotod a GREAT deal
time and means to the perfection