The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1902-03-26

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 filled.
When 1T is desired to send one in the
mails the blanks are filed in with the
name of the payee, his city and State,
2-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 aud
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
indorses it, goes to the nearest bank OF
post office and deposits it or has 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
he financial policy of the government
the only change being in the character
of the printing on the bills of five dol.
lars and under.
The bill s.iso provides for the issue
of $75 100000 of fractional currency,
with blank spaces similar to the larger
denominations, in place of an equal
amount of money of larger denomina
tions, presumably twenty and fifty dol
lar bills. The provision under the new
system for continual reissue insures
clean money both in the fractional cur
rency and In the larger bills. The gov
ernment fee on the five, ten, fifteen,
twenty-five and fifty cent pieces is to
be one cent each.
Perhaps in no better way can the
reader come to understand the press
ing need for postal currency than to
recall the times without number when
he himself has been desirous 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 III pieces of pasteboard, or
risking loose money. The average per-
son will not cxpend the valuable time
required for a journey to the post
office for a money order. Only the
pressure of necessity in the absence of
asimple convenient system brings to
the money order system its present
patronage. Statistics show that from
ten to twenty times the number of let
ters received by business houses, pub.
fishers and others who do large bust
ness Though the mails, contain stamps
loose money or some other representa-
tive of money, than contain money or
ders, clear enough mark of the die
, approval of the public.
! While is not thought that, il
adopted, The proposed system would
entirely supersede the money orde
, system, because for amounts over $5t
the money order would be slight,
Q cheaper, 1T is thought by the advo
: Gates of the pending bills that such
system of post checks would prove
: great convenience TO those desiring t
+ send small amounts of money througl
0 the mails, and would result in gain I
Il merchants, publishers and bushes
u firms who now receive such O remit
n tance in the form of stamps (ofte
Q torn and mutilated), drafts on sina
banks, or loose coin in letters--alway
!" a temptation to postal employees. A
l. of these forms Of remittance enta
l. some loss, in many cases to the r
+, ceiver, and TO that extent, perhaps,