The Bridgeport evening farmer., 1910-05-27
BANKERS AGAINST REDUCED SIZE IN
 PAPER CURRENCY

New York. May 27.-For some time the Treasury officials at Washington Lave had under consideration reduc- Iion in the size of the existing paper money currency. It is proposed to make the bills about four-ffths the present size, taking an inch from the length and about half an inch from the width the object being to effect an economy in the use of paper. This is understood to have been an early recommendation in the Treasury De Partment after the inauguration of the present administration. Secretary Mac Neagh is in favor of the idea, believ- ing that the new bills will be found more convenient and that they will be more like European bank notes. Late ly the matter has been brought to the front again and the change is now said to be seriously contemplated since A. Platt Andrew. Director of the Mint, has been requested to have new treas ury and bank notes designed. 1t has also been suggested to make the size vary according to the denomination of the bills.
 Until recently the proposed change in the size of the paper currency has not been taken seriously. either by the banks or the people But now 1t Is seen that the recommendation bids fair 10 be carried into effect and occasions TO little adverse criticism.
 Among the leading banking houses here in New York not a single word of praise could be found for the new measure. It seems to be generally regarded as an absurd freak of an ad- ministration frenzied with economy, in some directions, and made without any regard to the public convenience. It Is not necessary to quote any individ ual banker on the subject. as their opinions are as one as regards the dis advantages that the change would mean. They are unanimous in say ing that the institution of a smaller size in the paper currency would en- tail an enormous amount of additional labor. to say nothing of expense, in the clerical work of handling money.
 In the first place, for the next 10 yesrs at least there would be the two sizes of bills in circulation. This would mean that they would have to be counted and done up separately It would mean a encouragement of accommodation in the banks for the reception of the notes, and in many cases a considerable alteration of vault room. Perhaps the most inn portant consideration is in the man. ner of counting the bills. The pres ent size lends itself very bly, for holding in the palm of the hand, which it is contended would not be the case if the bills were made any smaller. Smaller bills could only be
 
 ing" and this would make the detec- ton of commercials extremely difficult As regards having different sizes for different denominations the idea meets with even more disfavor.
 A representative of a banking house which perhaps has occasion to handle more bank notes of foreign countries than any other of its kind in the country, declares that the present form of the United States paper cur rency is uEquestionably more con- venient to handle and count than that of any other country
 - It is pointed out that the present size of bills in use was adopted when the government first started to issue money in 1S61- The size was copied from the old state paper currency in use in New England, New York, Ohio and other states, and was evidently considered at the time the most con- yenient shape to adopt.
 W A Washington dispatch says: "In- fimations that have gone out that the Eecretarv of the Treasury contem- plates making changes in the color, design and sizes of the United States paper currency has had the effect of bringing many protests to the Treas Gry Department. This sentiment of opposition to the change has also found voice in a resolution introduced into the House directing the Com Inittee on Banking and Currency to ascertain whether there is any public demand from banking or commercial interests in favor of radical changes in the note issue of the government