Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-23

rNCLE SAM proposes to reduce
the size Of his paper money to
that of the paper money now
" in use in the Philippine Islands,
known as Philippine currency,
which is 21a by 6 inches long
While the main object of the reduction
in size is to facilitate its handling by the
banks aud the public generally, economy
is also consideration. Secretary Mac
Veagh claims that the reduction In size
will save the government more than $780,
coo annually.
1t is also proposed to do away with the
necessity for special notes for individuals
banks This will have to be accomplished
through legislative authority. The idea
is to have national bank notes and United
States notes of the same size and TO
have separate designs for each denomina-
ton, in order that the people and the
banks generally may be able to tell at a
glance the denomination of the note by
the picture on it. In this way, it is claim
ed. counterfeiting will be more difficult.
The new paper money will have the de-
nomination or amount of the note Ill each
corner so that any one in handling II can
see at once the amount, whether it be
held upside down, sidewiSe or crosSWlSe.
For United States government paper
money it is proposed to have one set OF
engravings tor the various notes. For
instance, at present there are no less than
nineteen miscellaneous portrait and MS
tcric designs which appear on the issues
now current. The present silver dollar
certificates bear the portraits of both
scheme there viii be only one portrait
Or design used for dollar certificates. and
separate and distinct portrait for
each CT the other denominations.
y1lfAlD pa
George Washington might be selected
for the one-dollar certificates. that of
Lincoln for the five-dollar certificates.
that of some other well known historical
character for the ten-dollar certificate.
and so on down the list. This will
avoid all confusion.
In order to effect a reduction in the size
and design of the national bank notes.
however it will be necessary to obtain
the consent OF Congress. Uncle Sam pro-
poses in this connection to effect a great
saving in time, labor and money by sub
shutting the same uniform engraved
plates for all bank notes-both Unit ed
States and national banks-and to print
later by separate process either the name
of the individual bank. or to give each
national bank in the country certain
this name or numbar to be placed
is estimated. will do away with more
than 1900 plates now in use, and these
plates will be replaced by about 251.
To sum up the plan of the government.
1t is intended to have United States and
national bank notes and certificates uni
form. thus making all paper issues in
circulation of the same size. with the
same portrait for Identical denominations.
Second, TO save in the labor and reduce
the force now employed on this work.
Third reduction in vault space because
of the smaller size of the new notes
Fourth. great saving is expected to be
made in the paper used. This paper is
very expensive. and the government eX-
poets to save from this source alone more
than 3OGOO annually. Fifth. it is claimed
in times of panic or money stringency
the proposed uniform currency should be
helpful. The banks could
send the necessary amount OF bonds to
The nearest subtreasury, and obtain their
equivalent in notes at once, whereas, un-
Ter the present system, in 1907, banks
sending to Washington for their own
notes had to wait three and four weeks.
These changes will make possible a saw
ng to the government of more than $780,
100 annually. and will give the people a
cleaner. more convenient and more artis-
ic currency.
Uncle Sam, as represented by the Treas
Try Department. recognizes that public
generally is more or less in