Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1910-09-15
CHANGE IN NOTES
TO SAVE $4,000
smaller Bills and Fewer Designs
Would Be Money in Uncle
Sam s Pocket.

and silver certificates ana a reduction IN
the size of paper currency 40 less than
10 miscellaneous portrait and historic de
signs appear upon the issues now current.
These serve no useful purpose IN Identify
inE the denomination Of notes with the
designs they bear nor have they hecn Sc
lcctcd according to any scheme Of histor-
ical balance. As an example of existing
confusion. tho present collar silver certiii-
cate bears tin" portraits Of both lincoln
and Grant. TIL" plan is to reduce these
70 miscellaneous designs to nine select
ing the portraits with some reference to
the importnnc" and position OF their sub
iects IN American history and using the
same portrait on one denomination
throughout. The faces would he placed
In the center OF the note and would on
able tho holder TO determine at glance
the denomination
Fer example the dollar note, which is
IN most common circulation. might hear
the portrait ~ Washington, ms the eman-
cipator cf tho countr! and tho founder of
Its government; the s. note, that of an
other famous American. and so on for nll
the separate denominations
Such roclassihcation t. believed to he tn"
more advisable as it will enable cashiers
lcis tho moro readily to detect counter
fcits. experience having clearly shown
that it is Impossible for the most expert
cnpraver TO reproduce an exact fac-simile
OF portrait. even If the face has been
enTraved 10y himself.
The class to which tho note bcongs,
whether gold or silver certihcatn or
United States note, may readily lie
t,1,. b, tn,
the seal on the right side of tho note ana
tho denomination numoral on the left are
printed Tho printing Of thesc Will con
tiluc to be done by Il separate process.
hence the distinction suggested involves
70 additional exDense The name of tho
class will he repeated MS many times on
| the face and back Of the note as at
! present.
The department might feel warranted I'm
proceeding to change the designs of the
notes without awaiting the suggestions Of
barking Institutions. but a somewhat
| different proposition is presented in the
plan to reduce the size of the notes to
six by . IL inches. Tho department
recognizes that public convenience is
more or less involved in system to
which most of the cash drawers and
|
adopted. hence it is disposed 10 welcome
criticisms and suggestions from bankers
and business men before attempting any
radical change.
STATEMENT BY SECRETARY
Under authority Of Secretary MacNeagh.
! q special committee of treasury officials
! has been at work for months upon the de
| tails involved In the change of designs
| ard the suggested reduction in the size
! OF paper currency. This committee has
cenvassed with equal candor the adj
Vantag"s Of and the objections to the plan
| Iliecus,int; the details OF popular interest
| involved, Secretary MaCNeagh makes the
/ following statement:
| ~ am hopeful that the public will con-
| sder favorably. as the treasury DEPART
ment is inclined TO consider favorably. the
economies and other advantages which
would result ultimately from the use of
q somewhat smaller paper currency. The
| present size of paper currency is 3.0i
! inches wide by 1.2S inches long and 1T has
beer suggested that our notes he reduced
10 > IL inches wide by six inches long, the
same size as the Philippine paper cur
rency, which has proved an unqualified
! success, and size which. when it is not
! brought into direct comparison with the
| present note. ana when not scrutinizcd
/ would not, to most people present a nc
+ tcc9hlc change. From the treasury point
Of view, the proposed reduction would
| result in an estimated saving 10 the GOV
crnment of S6l2.6o3 every year
This economy would he gained from
various sources. For example. We would
print five notes where we print four now
and the Increased production OF % per
cent moro notes with the same lahor as
a. present. carried through all the varl-
GUS processes OF wettinr, .vamining
counting drying. Numbering. sealing. sep
arating, ctc.. would save more than 5000
90 "A year alone. Tho saving IN the cost
Of pnnor would he aIn,oa, yGo ao1 and tho
decrease in The cost ~ nla,o printing.
would amount to almost s5-o 5oo r,,,.so.
v-i.h a ,,ossihlo r.5,.o,io,, 80 ,, -oro, f.,
the r,,lenr,ion ,li,lsior NJ t,. ,roosura,.'s
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