The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1904-01-01
ENRICHED BY
PHILATELISTS
THE POSTMASTER OF PANAMA
COINS MONEY BY SUPPLYING
STAMPS TO COLLECTORS.

STAMPS TO COLLECTORS.
WASHINGTON, December 15.-Pan-
anna is on Easy street." financially,
for in addition to having $4,000, 600 in
consideration of canal concessions in
sight the postal affairs of the new re-
public are in the hands of an Official
who is at the same time a patriot and
u Napoleon of finance.
The Postmaster General of Panama
is a genius. Realizing the Unsuitable
desire of philateHsts, or stamp collec-
tors, for new specimens, or even for
freaks" and errors ne leased the
printing office for month and at
once proceeded to business.
The foreman of the printing office
was instructed to set the words Re
publica de Panama" in four different
styles of type small enough to be con-
tanned upon the postage stamps in use.
All of the Colombian stamps on hand
were then Overprinted with these
words and the Bank Note Company in
New York which furnished the stamps
to Colombia for the department of
Panama was wired TO print and ship
several hundred thousand sheets of
the stamps penang the production of
a new and distinctive series of stamps.
The printer was advised not to be
particular whether the sheets were
fed into the presses right side up or
upside down; that so long as Re
publica de Panama" appeared upon
the stamp, it mattered not how it APP
ipeared. The sheets of stamps were
put through the presses in every con-
ceiYable manner-sideWise horizontal
/ ~, vertically, inverted and straight
printed in black ink, red ink and blue
ink. All the denominations of all the
stamps were thus surcharged and
then the POstmaster-Gene dispatch
ed letters addressed to Washington.
! Their arrival was duly heralded in the
Philatelic press.
Forthwith scores of dealers sent
checks and money-orders, varying in
size from a few dollars to thousands
of dollars, to the Postmaster-G General
at Panama, ordering large quantities
| of all denominations and varieties of
stamps issued or oyerprinted. The
orders were so large and numerous
that it is stated the entire stock was
practically cleaned out.
The stamps will at once be sold to
| collectors, who will paste them in
their albums. Not 1 per cent of the
stamps will ever do postal duty
| Meantime, the Panama Treasury is
/ e'HN1AL many LllOuSdllQS VI uOlldIS anu
the possibilities at the hand of the
! Postmaster-Gener of Panama are
unlimited untu new and Distinctive
series shall be prepared, when the oc-
casion for errors will have passed.
A leading philatelist in Washington
says several small republics practi-
A. cally live off the receipts from the
sale of postage stamps to collectors.
! When the treasury runs low, a new
series of stamps is brought out, or the
! old series overprinted with different
value, under the claim that all the
stamps of certain denomination are
| exhausted. Immediately there is a
| rush for the new surcharged stamps,
and the little republic is again in
funds.
| The United States postal authorities
! do not countenance this sort of prac-
tice, yet the department for a brief
period was drawn into the speculative
swim.
In 1898 Captain Richard p. Leary,
Who died year ago, was dispatched
to assume charge of the island colony
of Guam one of the fruits of the Span
ish-American War. Captain Leary
had loaded up with about everything
he could think of that might be needed
in the far-off island, and was due TO
san from view 1OIk IN TWO Gays. A
friend of Captain Leary, who was a
stamp collector incidentally asked
the Captain what he proposed to do
for postage stamps. The Captain had
not thought of that of course post
age stamps would be necessary; he
would consult the Postmaster General.
Mr.. Madden, third assiltant, was
called in and Immediately solved the
problem. The proper method would
be to surcharge United States stamps
with the word Guam" This was done
the same day, and Captain Leary
started for New York with a few thou
sand stamps of the /, and 3 cent
denominations in his grip
Meantime stamp collectors had heard
of what was going on and when Cap
tain Leary arrived in New York he
was beseiged by stamp dealers who
offered to buy all of his stock or part
of it, offering him all kinds of money
At his hotel Captain Leary found let
ters with checks and kilograms beg
ging him to sell part Of his stamps.
But Captain Leary lugged his gripful
of stamps TO Guam. The steamer arr
irving after Captain Leary at Guam
brought a bushel of letters and several
thousands of dollars i'm checks and
money orders. Captain Leary saw
that the Guam treasury needed money
and so he sat down and sent an order
to the Department for stamps enough