Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-10-27
Great Source of Income
In Small Republics.
Colombia Since 1859 Has Is.
sued 1900 Varieties.
The Periodical Stamp Complication
Guam Stamp Matters.

/ llitotllc Vi tiC NItpp-JOHn republics of
| this hemisphere, to the great disgust
of the philatelic. or stamp-collecting
guild. Since 1859 the United States of
Colombia has issued nearly 1900 va
, ricties of postage stamps. During the
| same period Russia issued fewer than
| 100 varieties. The United States has
| of late years come perilously near. in
several instances. to countenancine the
| issue of stamps for profit but it's pos
tai officials now promise to guard the
subject more carefully.
4 speculative stamp, according to
philatelists, is one for which no legiti-
mate postal need exists. If the de-
partment should issue a 191h-cent
stamp. this would be regarded by stamp
collectors as simply a bid for their
money, since the public could make no
use of such stamp. Philatelists would
| be the only possible buyers, and the
United States would not, except in
rare instances. be called upon to rem
der any service for the money re-
ceved. This is an extreme illustra-
ton.
In 1896 the "periOdical' stamp was
abolished. This was something affixed
, to the stubs of receipts for second class
matter, and issued in denominations
! from one cent to 500. The public
never saw it. When the discontinue
/ ance of these stamps was ordered. ap-
! proximately $4,000 complete sets of all
J denominations We're found on hand.
i This fact was printed in philatelic
journals and many collectors wrote the
department requesting that nominal
price be placed on sets. the face value
of which was about 5000. and that they
be sold direct to collectors, who it was
suggested. would willingly pay IS per
est and probably absorb the entire
stock of remainders. Here was a
chance to put $3.50. 900 into the treasury.
an amount sufficient to pay for the
, printing bill of all the postage stamps
used in the United States for a year
and after considering the subject at
some length, the department gave the
order to make the remaining periodical
stamps into complete sets. and offer
them at S. each.
While it is true that collectors We're
the instigators of the plan to sell the
stamps, the great body of philatelists
throughout the world. and more par
ticularly those in Europe, protested
against the order in most vehement
terms. Uncle Sam was characterized
as speculator. even below the level
of Central American countries. For
eign philateiic Journeys roundly de-
nounced the POstoffice Department,
and incidentally American collectors.
for permitting such a rank violation of
| the ethics of the business. But the
worst was to come. In making up the
sets it was found that the stock of the
SIS, $40. 500, $50 and 800 stamps was
short, and additional supplies of these
! denominations, called reprints by col
lectors. We're brought out to complete
the $4,000 sets This information for
tunately did not reach the philatelists
for some time.
Meanwhile orders for sets, accom-.
panied by the cash, poured into the
postoffice. In spite of the cutlery
against the speculative side of it, col
lectors here and abroad bought the
stamps to complete their holdings, and
within week 10000 sets had been sold.
This large sale. with hints that $4,000
sets would be inadequate to supply the
demand, aroused a speculative ambi
| ton in collectors. who laid in supplies.
| A number of Boston. New York Phila-
delphia and Washington men bought
them by the hundred sets. One en-
thusiast in Washington invested $4,000.
About this time the information
leaked out that reprints of the higher
denominations had been made to COM
plete the 10000 sets. Then the philate-
lists felt themselves tricked, and began
| to protest vigorously. The demand for
these sets came to standstill. after
10000 had been sold. The rest were
burned. Since that time the sets in
| circulation have steadily lost in favor,
the price declining, until they may be
bought now for $3.50. and it is said the
Washington investor already alluded
to unloaded his holdings at an even
lower figure.
The department unofficially ex-
planned its position and protested it's
innocence. It had been its original
purpose to destroy the remainders, as
| usual until collectors urged the plan OF
selling them, and in acquiescing the
department had been moved solely by
desire to please ph1latelists. In
view of it's record this explanation was
generally accepted, although the spec
ulaors who had loaded up with extra
sets never wholly forgave the govern
, ment.
A second lapse from postal propriety
occurred when Captain Richard r.
Leary was appointed governor of
Guam. Before leaving for his post,
he was supplied with few thousand
, postage stamps, for the use of the
American forces on the island. THESE
stamps were the current issue. OF the
one two and five-cent denominations,
but with the word Guam" printed in
black ink across the face of each
stamp. The day before CAPTAIN Leary
I sailed. the fact that he was carrying
these in his yalise became known.
Political and social influences were
exerted by stamp dealers to get some
Of this stock from him. But he re-
FUSED all overtures. The steamer on
which he took passage carried hum
| dreds of letters from stamp dealers ana
/ callectors to Guam, containing money
orders for the purchase of Guam
stamps as soon as they arrived. The
next steamer brought further ava
,anche of orders. which of course could