New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-21
PANAMA POSTAGE STAMPS
II Thrifty Financier Who Kne5c
What Collectors Would Want.
TFRoM THE rRIpuHE puREAU.l


the master hands that control its postal affairs
are not shackled. for dependence may be placed
upon this philatelic patriot to avoid the
sity Of bond issues for the ordinary wants of the
little government many months
The Postmaster General OF Panama is a
genius. Wall Street men. it is thought. might
proftably take day off and study at the feet
of this Isthmian official, who is already taking
in the shekels by the bushel without being COM
PEELED to supply any real intrinsic equivalent.
The get-rIch-quick concerns of New-York and
Chicago have not attained to the primary class
in wealth accumulation when measured along
side the who has charge of the stamp de-
partment at Panama.
The new Postmaster General Of Panama is
an old hand at the business. Not only does he
know the precise direction to dispatch letter
addressed to Washington. but he is familiar
with the weakness of the stamp collector, or
philatelist to use the technical term.
When Panama broke loose from Colombias
apron strings every stamp fiend-one hundred
thousand in the United States and five hundred
thousand in Europe-said: What will Panama
do for postage stamps? Will the stamps of
Colombia hitherto used be overprinted Pan
anna will a series Of stamps be issued?''
The foxy Postmaster General OF Panama said,
What I do to the guileless stamp collectors
the printing office across the street and leased
the plant for month.
The foreman of the printing Office in
structed toaset the words "Republica de Pan
ana" in small type, capable of being contained
upon a postage stamp, many times as the
limited facilities of the office would permit.
Then all the sheets Of stamps on hand were sur
charged "Repubca de Panama" and to the
bank note company of New-York which fur
nished the stamps to Colombia for the Depart
ment Of Panama was sent a message to print
and ship several hundred thousand sheets Of
stamps pending the designing and issuing of a
series incidentally the printer given
to understand that it rush job, and that
nobody cared how the words "Republica de
Pa sama" printed. whether upside down or
otherwise long the words appeared upon
the stamps in some shape
1t should be remarked, in passing, in order
that the layman may catch the full purport OF
the scheme and. grasp the depth of the enter
p:s of the thrifty Panaman Postmaster Cen
eral that stamp collectors have {. pa sson, an
Unsuitable hunger, for what termed errors"
I'm stamps. Anything out of the regular or cor
rect form in stamp production is seized upon by
stamp fiends with avidity. Freaks meat and
drink for the philatelist
This weakness of stamp collectors the Post
about aupeasng their hunger Sheets of stamps
were put through the presses in every conceiv-
able manner; sideways, horizontally, vertically.
upside down and straight; printed in black red
and blue ink. All the values Of all the stamps
were thus surcharged, and then the Postmaster
General prayed for speed to the ship with
stamps from New-York
For example. the one-cent stamp was over
printed as follows: "Republica de Panama" in
red ink horizontally: lame surcharge sideways
vertically at left side reading upward; sa1sle
inverted: same inverted stamp and regu-
lar on stamp adjoining; same. except on each
alternate stamp. surcharge omitted entirely.
Same variations in black and in blue ink These
variations were made upon each of the denom-
nations of 1. 2. 3, 10 20 and 30 centavos and /
peso making in all than forty different
surcharges and errors"
Letters addressed to New-York were,immedi-
atey dispatched and their arrival duff chron-
icled in the phatclic press. Forthwith scores
Of dealers forwarded checks and money orders
varying from few dollars to thousands of dol
lars ordering large quantities of all denomina-
tons and varieties of stamps issued or over
printed. The first avalanche of orders practi-
cally cleaned the Panama office of stamps ex-
cept small quantity reserved for domestic use
The thousands of dollars received may be
charged to profit The stamps will at cnce be
sold to collectors, who will paste them in
albums, where the stamps will remain forever
Not l per cent of them will ever do postal duty
Panama is ahead thousands of dollars, and the
end is not yet
It is altogether probable that when the big
shipment of stamps from New-York arrives at
Panama that changes will be made in the type
used in the overprinting, thus making other
varieties, so that even collectors who pur-
chased all the original forty varieties will desire
varieties of the second printing In fact. the
financial possibilities before the Postmaster Cen
eral of Panama are limitless until the new series
is issued, when the occasion for errors will have
passed.
An expert phatelst in Washington asserts
that many small republics that might be named
are largely supported from the revenue derived
from the sale of stamps to philatelists When
the Treasury becomes depleted a new series of
postage stamps is brought out the old series
overprinted with a different value under the
claim that all of the stamps Of a certain de-
nomination are exhausted. Immediately there
is a rush from collectors for the new surcharged
stamps. and the little country is again in funds
If pnilatelists to withhold their patronage
several countries would be ordering plates for
bond issues or resorting to direct taxation
The United States Postoffice Department does
not countenance this sort of practice and vet
for brief period Uncle Sam was In 1t. specu-
latively up to his eyes.
The latter part OF 1898 Captain Richard p
Leary, who died year ago, appointed Gov
ernOr of Guam, and ordered to at once proceed
to his new post. Captain Leary had loaded up
with about everything he could think of likely
TO be required in the far off island colony and
due to sail from New-York in two DAYS A
friend Of the captain, who was a STAMP COL
leCtor, incidentally asked the new Governor if he
had made arrangements for postage stamps
The captain had not thought of that: of course
postage stamps would be needed; he would con-
suit the Postmaster General, The latter agreed
that stamps necessary. but expressed
tO hal ST. ba Ill