Evening star., 1902-04-18
M ALL c URREN GY
JOINT CoMMurTEE TO CONSIDER
A PROPOSITION.
Advantages cfsimed for the Proposed
Post Check Systematic OPP
position Known.


The joint committee Of treasury and post
office officials appointed especially to con-
slider the plan of establishing mail cur
rency," devised by Mr.. C. W. Post, is to
convene in the offices of the auditor for the
Post Office Department next Thursday af-
ternoon at o'clock. The members of this
commission have already organized by
electing Ellis H. Roberts. treasurer of the
United States, chairman, and John M. Mas
ten, chief clerk to the first assistant post
master general, secretary. 1t is expected
the consideration of the Post plan, although
thought to be generally approved by the
members of the commission, will occupy
the board several meetings.
Th1s plan of a general system Of currency
which shall be available for safe and gen.
eral transportation through the mails has
been embodied in two proposed enactments
introduced by Senator Mcmillan in the Sem
ate and Mr.. Gardner Of Michigan in the
House. One measures provides that all
paper currency hereafter issued by the
United States Of all denominations Of one
dollar, two dollars and five dollars except
national bank notes, shall be of the form
be convertible by the holder thereof
into a check to named payee." The
other bill extends the application of the
first measure to a fractional currency or
| create paper currency for values of five
cents, ten cents, fifteen cents, twenty-five
cents and fifty cents 80 materially smaller
than the dimensions of the paper currency
of the United States of the denominations
Of one dollar and upward that they may
readily be distinguished
What It Provides.
In operation the Post plan provides mere
ly for the issue of paper currency in such
form that any single bill can be readily
converted into a money order. The face of
each bill is to contain three blank lines
just below the governmental seal on the
right side of the bill. The back of the bill
will contain one blank line, on which the
sender writes his name for purposes OF
identification. AS long as these lines are
blank the bills are susceptible of use ex-
actly as paper money is now used.
To send a bill through the mails, how
| ever. these blank spaces must be filled in,
and the bill then becomes, not a paper bill
for general use, but check on the govern
ment for the amount of the bill, which can
be cashed only by the person whose name
is written on its face. The sender will
write the name of the payee on the first of
the blank lines and the latters address on
the second. On the blank line at the back
he will write his own name and address.
The bill will then be stamped with the or
dinary 2-cent stamp, Cancelled with the
senders initials, and inclosed in the send
er's letter Of transmission like ordinary
sheet of writing paper.
On receiving such remittance the patron
of the mail service will carry it to the
post office and present it for payment, hav-
ing previously filled in the third blank line
on the face of the bill with his own sigma
ture The proper clerk in the post office
will accept this check and issue in return
for 1t a bill exactly like it, but with all four
spaces blank rThisdnew bill can be used in
turn either as paper money or converted
into a post check
In the judgment of the inventor and many
nf Ia he a1
tageS of this system will be manifold. In
the first place, it limits the theft of money
transmitted through the mails to such per-
sons as are willing to commit forgery for
the sum of 81, So or s.. In the second place,
1t provides means of transmitting money
safely at much less cost than any system
now in use. But the greatest argument in
it's favor. in the judgment of these officials,
Is that it provides for a money order OBJ
tanned with very much less trouble than
the present money order and will CORE
now sent by mail in the form of coin, paper
money stamps The dead letter office
records show that of all the packages
opened which contain remittances only one
remittance in twenty is in the form of
money order. The others are all in the
form of coin, paper money or stamps.
Opposition Of Money Order Advocates.
Against these arguments the champions
of the present money order system urge
that by the operation Of the Post plan every
paper BILL whether desired for such use or
not, becomes in form a blank money order,
and that the general adoption Of the Post
check system will mean a considerable loss
in the revenues of the government. Fur
thermore, it is contended that the entire
reissue of the paper currency of the nation.
over s37O,00O,0O0 will add materially to the
cost
These objections are not considered fatal
by the champions Of the Post check scheme.
The American Newspaper Publishers Asso-
citation. which comprises nearly all the
large daily newspapers in the country, has,
for example, given it the most unqualified
Endorsement. In a recent circular 1t is de-
scribed as mot party measure, but one of
great public interest" and 1t is suggested
that the members Of the association "use
upon Congress the need Of a convenient
currency that may be mailed" There is
no private gain In the movement, continues
the circular, land the bureau expenses are
met by the voluntary contribution of the
originator and patience of the Post check
currency, who presents 1t free of cost to
the government"
Mr.. Perry 8. Heath, former first assist
ant postmaster general has written of it
as "a very practicable plan,' and has
stated that in his varied experience as a
newspaper publisher and in official life'' he
has seen "much Of the necessity for a
mail currency and been impelled Ito
regard the postal check with favor and to
hope Congress will adopt it."
But probably no class Of citizens" says
the Railway Conductor would receive
SO much benefit from having such sys-
TEN as our railway organizations which
operate an insurance department. The con-
slant loss Of money to the members of
these associations through sending money
through the mails on account of not having
time to properly protect it by registered let
ter, money order, draft or express order
amounts to not only considerable loss in
money every year, but in many instances it
means the forfeiture of membership in the
department, and sometimes is associated
with peculiarly distressing circumstances.
Every railroad man who has irregular
hours and runs feels at times that it is a
hardship for him to make the journey to
the bank, express office post office for
the purpose of buying draft or order for
his remittance. With the Post check
money he has an ever ready substitute for
the bank draft, which he can fill out any