The Washington herald., 1910-08-28

II bankers and business men through
out the United States give their approval.
Treasury notes Of all denominations will
be reduced in size by one-third, at saw
ms Of about S.OO0.OOO a year to Uncle
Sam, and the change will be made within
so short a time as to be considered sud
den.
The plan Is to make the new bills just
large enough TO mt ordinary pocketbooks
without folding. It is the folding that de-
stroys their texture. Bills are said to
last no more than six months with con-
slant use They can be made 20 last
much longer If made smaller. and the
saving OF material and ink. in addition,
will combine to work Az inesumable
economy.
Opinions to Be Solicited.
Business men and bankers Of the coun-
try are TO be solicited for expressions Of
opinion as TO the feasibility OF reducing
Treasury notes. The work is said TO be
already under way. IF the idea meets
with public approval three weeks will
mark the change.
Director Ralph. Of the Bureau Of En-
craving and Printing. believes that by
reducing the size Of bills they can be
handled with more ease and the repeated
folding viii be minimized. An nlustra-
ton is taken from the Philippines. where
bills are smaller than In the United
States and last much longer
The m nor rrnou rrrnfoT, tho otrrv,r,.r a.
printed costs $40 per pound. In cutting
the note down to two-thirds size 46 cents
viii be save5~on each pound Of paper
used.
Engraving 20 Be SimpIifed.
In addition to the change in the size
OF the notes, they viii be slmplihed 50
as 20 make it possible for bank clerks
and those Constants handling money to
become thoroughly acquainted with every
detail Of the engraving
Director Ralph has expressed his belief
that bank clerks should give more at
tention 70 the money they handle. and
in doing so would make it almost impos-
sible for cOunterfeiters 10 pass spurious
money. At present every note has a diff
ferent face gracing its front. The $
silver certificate is decorated with the
likeness Of certain statesman. while the
gold certificate bears another's likeness.
Il is the idea OF Mr.. Ralph TO have all
notes OF the same denomination paying
tribute to the same man. So il the new
scheme goes through one portrait viii
stand for a s. bill. whether it be found
on a gold or silver certificate
1t is the belief of Lee McClung. Treas
urer Of the United States. that the idea
Of reducing and making the notes more
simple will meet with the appreciation
Of the banking world The banks will not
only be able to place more of the cur
rency in their vaults. but the fact that
the money will be kept fat by the public
viii make fl many times easier 10 handle
and count when It comes into the banks
After a few bills have been counted
they turn UP and the pile tumbles over.
The teller must stop and straighten IL I'D
again or have a difficult time when he has
finished the roll. Money that is placed
fiat in a pocketbook will always handle
well. and even better than brand new
money, it is sad.
Considering Bank Notes Also.
Bank notes are also under considers
ton, but before a change can be made re-
ducing the size Of these notes the plan
will have to meet with the approval of
Congress. II is plain 10 see that with
Treasury notes one size and bank notes
another the situation would be more en-
barrassing than at present. Extra drawers
would have 10 be made, and handling
roll Of money containing two sizes OF
notes would be tedious And then it
would be ridiculous to have one size note
that could be placed in an ordinary
pocketbook and another that must be
rolled in the present fashion.
But 10 change the style and size OF the
national bank notes would involve a
great expenditure, as there are about
1900 plates that would have 10 be en-
graved to replace the present ones. But
this expense, in comparison to the
amount TO be saved. is only an item.
and all that is needed is 20 have Con-
gress approve the plan. In the case of
the Treasury notes authority is given
the Secretary Of the Treasury to make
such change in the style Of moneys as
he may see fit. with the sanction OF the
President.
The whole idea is said to meet with
the hearty approval Of the President
TO Mr.. Ralph belongs the credit Of sim
plifying the notes. and he has spent much
time perfecting that which he believes to
be a good note, hard TO counterfeit and
a counterfeit OF which. he thinks. would !
not get through the banks.