The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1907-11-21
City Joins the Army Of Cities in
the Country Doing Business
With Bank Certificates
CURRENCY MAY DISAP PEAR
New Plan Adopted In Other Cities Is
Expected to Appeal to the People
of Kenosha.-ChicagO Certifi-
Gates Are Coming

day and within the next few days the
city will receive large amount of
script to be used as a medium of ex
change and the paper dollar and the
silver dollar are expected to become
as scarce as the proverbial oyster that
swins in the soup at the church social.
The plan of issuing script instead of
currency has beens adopted by all OF
the factories of the city and the Chi
cago Brass company took the initia-
tive in script payments on Thursday,
when the sn1en employed there we're
paid off in certificates good on any of
the banks in the city. The certifi-
Gates however are payable only IN ex-
change, but they are in every way
just as good assUncle Sans currency
and they were being cashed in nearly
all of the stores of the city Friday.
The Chicago and Kenosha Hosiery
works paid off their men Friday
with certificates good on the Corn Elk
change bank and the Simmons COM
pany issued similar certificates to
their menfSaturday. All of the other
ia ctories in the city are having the
certificates printed and they will be
ready for circulation when pay day
comes round. It will probably take
two ors,,three days for the people of
the city to get accustomed to the use
of the certificates, but after that there
will be no trouble in doing business
with them. The banks will see to it
that thea stores in the city are we'll
supplied with fractional currency and
as the certifcates,have been issued in
denominations of five, two and one
dollars, there wil1Sbe little trouble in
keeping them moving. Of course it is
expected sthat there will be more or
less boarding of currency and this
fact alone has forced this city to
join the other cities on the certificate
plan. The bankers Of the city
strained point last week to provide
currency for pay rolls and it was ex-
pected that most of the money would
find its way back to the bank by this
time, but the people have seen fit to
hold the money and the certificates
are thesresult.
The certificates are being received
as deposits at both banks Friday, but
many of them are in general circula-
ton. Of course there is a tendency
to keep the certificates moving and
this may give a stimulus to the cur
rency movement.
The Kenosha banks have both put
IN orders for clearing house certif-
Gates issued by the Chicago clearing
house sand it is expected that these
will reach the city within few days
and possibly tomorrow. It is claimed
that these certificates are better than
a government bond, as the banks IS
suing them have deposited with the
Chicago clearing house securities to
valuegofs one-third more than the
amount issued in certificates.
Chicago and Milwaukee have both
been doing business on the certificate
plan for several days and the plan is
being extended to the smaller cities
in this district as rapidly as the. GER
tificates can be turned out by the
Chicagosclearing house.
Most of the certificates now in cir
culation inssKenosha were printed in
the city, but they are fully secured
by deposits in the Chicago and Ke-
nosha banks through which they are
made payable. 1t should be i'm
pressed on every one that these GER
tificates are just exactly as good as
any of the money issued by the United
States government and no one will
either now or al any future time lose
a cent by accepting them in payment
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