Barre evening telegram. (Barre, Vt.) 1898-19??, 1902-03-19
4 POSTAL CURRENCY.
Novel Proposition Submitted to
the Nations Legislators.
UNIQUE SYSTEM FOB USE IN NAILS

Money Can BE Transformed BY II
Into Indorsable Checks-Of Great
Business value-Plan Invented by
. 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-
tenn has the approval of many officials
and is Endorsed by 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.. McAlil-
Ian and in the house by Mr. Gardner
Of Michigan. provides for printing the
one, two and FIVE dollar bills In the fu-
ture with blank spaces on the face
These bills of course pass from hand
to hand before the blanks are filed
When it is desired to send one in the
mails, the blanks are filled in with the
name Of the payee, his city and state,
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
1t just as he would any other check
Endorses it, goes to the nearest bank or
postoffice and deposits 1t or has it
cashed
The paid check finally reaches the
treasury department, when it Is re-
placed by 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 S. and
under.
The bill also provides for the issue Of
5000, 600 of fractional currency with
blank spaces similar to the larger de-
nominations in place of an equal
amount of money Of larger denomina-
lions, 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.
ernment fee Of the five. ten. fifteen.
twenty-fi five and fifty cent pieces is to
be 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 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-
CURED for the journey to the postoffice
for money order. Only the pressure
of necessity in the absence of a simple
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 and
others who do large business through
the mails contain stamps. loose money
or some other representative of money
than contain money orders. a clear
mark of the disapproval Of the
public.
While it is not thought that, if adopt
ed, the proposed system would entirely
super sede the money order system, be-
cause for amounts over $50 the money
order would be slightly cheaper, It is
thought by the advocates Of the pend
ing bills that such a system of post
checks would prove great convenience
to those desiring to send small amounts
Of money through the mails and would
result in gain to merchants, publishers
and business firms who now receive
such remittances in the form Of stamps,
often torn and mutilated; drafts on
small banks or loose coin in letters al
ways a temptation to postal employees.
All of these forms of remittance entail
some loss. in many cases to the re-
ceiyer. and to that extent perhaps
creditor is unjustly defrauded, inno-
Gently it may be, by the debtor. I'm
Ter the new system these troublesome
and unfair methods of making remit
.ances would be done away with, ow-