Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-11-27
PQsI.cHEck CURRENCY.

POSI.ChECk CURRENCY.
There appears strong pressure be-
hind the bill introduced In the house by
Mr.. Gardner, Of Michigan, providing a
change in the issues of one, two and
five dollar currency notes to the post
check scheme. The bill provides that
oil the above named notes excepting
National bank notes. shall hereafter
bear blank space on the face wherein
the holder may write his name and the
name of payee. where the payee may
acknowledge receipt by his signature
and where a postage stamp may be
AFFIXED. These are the physical
changes in the notes.
The scheme, with which most news
paper readers are more or less famil-
lar, practically makes draft out of
every one, two and five dollar bill. 1t is
Intended to make for the convenience
OF the public In sending small amounts
safely thru the mails, and is substi-
tute for the money order system now in
: 4
use The sender writes his name In
the blank space OF any bill Of these de-
nominations, and the name of the per-
son to whom he desires payment to be
made, affixes two cent postage stamp
marks 1t with his initials and mails to
his creditor. or tradesman. The recip-
lent signs his name in the blank space
provided for this purpose, presents the
note at his postoffice and receives cur
rency. Banks also are empowered tc
receive and pay for post checks and are
granted special postal privileges for
forwarding them to the treasury de-
partment.
The convenience Of the system is It's
popular feature, tho 1t Is expected to
prevent mall robbery and increase post
il receipts. Farmers and those less
conveniently situated as regards banks
Ind postoffices. are likely to approve
= plan which permits them to make
their own money orders or drafts out
Of ordinary currency, 90 simply and in
lxpensively. They may send money
By mail certain that 1t will be paid to
and receipted by the one for whom
they intended It. The Inconvenience OF
Sending small amounts by mall appears
TO have been eliminated by the post
check plan. On the face OF 1t the plan
seems especially safe and convenient,
It is a government issue OF the same
relative value as the greenback and Is
30 controlled that it can be used safely
in the mails for the payment of small
accounts.
Doubtless It will work some injury to
the express companies and banks which
guarantee safe transmission Of money
for fee by reducing the volume of
their business, but this feature Is not
TO be considered against the conven-
fence of the whole people. 1t is likely |
to increase labor in the postoffices. but
this will be balanced by the cancella-
lions of the two-cent stamp which |
every signed post check must bear.
A serious question with the interior |
merchant will be its possible effect |
upon his own trade by making remit
tances to the catalog and mail order
houses easy. The plan is mail order
and mail payment scheme. and intend
ed to facilitate precisely such transac-
lions as the country merchant objects
to SO strenuously. The combination OF
one. two and five dollar notes and
postage stamps makes any payment
possible, prompt and convenient There
is no doubt. however. that the propos
ed currency would find favor with the
general public and relieve much In
convenience and annoyance.