New-York tribune., 1910-09-10
PAPER MONEY CHANGES
Would Save Government More
than $500, 900 a Year.

washington. Sept. 0-Tor more than a
wear the Treasury Department has con-
ternplated a systematizatiOn Of the designs
for United States notes and gold and silver
certificates and a reduction in the size OF
naper currency. No less than nineteen mis-
ceIlaneous portrait and historic designs an
near on the issues now current These
serve no useful purpose in identifying The
denomination of notes with the designs
they hear nor have they been selected ar
cordin, to any scheme OF historical BAL
ance. AS an example Of existing confusion.
the present dollar silver certificate bears
the portraits of both Lincoln and Grant
The plan fs to reduce these nineteen mis-
ceIlaneouS designs to nine. selecting the
portraits with some reference 70 the i'm
portance and position OF their subjects in
American history. and using the same
portrait on ore denomination throughout
The faces would be placed in the cantre
of the note and would enable the holder
TO determine at glance the denominarlon
For example. the dollar note. which Is In
most common circulation, might bear the
portrait Of Washington. as the enancipator
Of the country and the founder Of IT'S gov
ernment: the 81 note, that Of another
famous American, and so on for all the
separate denominations
Such reclassifcatfon Is believed to be the
more advisable as it will enable cashiers
of banks and other expert money handlers
the more readily TO detect counterfeits, ex-
perience having clearly shown that If is
impossible for the most expert engraver To
reproduce an exact facsimile Of portrau,
even if the face has been engraved By
himself.
The department might feel warranted In
proceeding TO change the designs OF the
notes without awaiting the suggestions o.
banking Institutions but a somewhat dif-
ferent proposition is presented in the plan
to reduce the size o.. the notes 20 by 81 =
inches The department recognizes that
public convenience is more or less invoked
in a system to which most os the cash
drawers and pocketbooks Of the country
have been adapted, hence it is disposed 70
welcome criticisms and suggestions from
bankers and business men before attempt-
ing any radical change.
Under authority of Secretary Aacyeagh,
a special committee Of Treasury officials
has been at work for months on the de
tails involved in the change OF designs and
the suggested reduction IN the size bt
paper currency. This committee has cap
vassed with equal candor the advantages
of and the objections 10 the plan
The advantages to be expected from ths
proposed uniformity IN design and redGc-
ton in sire of the national bank notes as
outlined by Mr. Macveagh may BE sum
married. as follows;
Uniformity with United States notes and
certificates. thus making all paper ISSUES
IN circulation OF the same size. WIN tIls
me portrait for identical denominations
Reduction in the force OF the ONCE q the
Controller Of the Currency engaged N e
ceiving currency from the Bureau Oh En-
craving and Printing in its shipments 10
the banks.
Controller of the Currency because or tde
in the size Of the notes, aa1
the avoidance OF the necessity for the tOA-
troller Of the Currency TO carry reserys
supply for each bank. as MS s'ocN "ou''
be common TO all banks go
Saving of large number Of sneets when
are held ready for issue. but which are
because the banks for which trey
are prepared 90 into liquidation IflS esu1
mate was 900 sheets IN the last Ilseat
year At present the Treasury has to keep
:, reserve stock of notes always on hand
for each of the seven thousand active na-
tioual banks The proposed plan "odi6 .,C o re-
suit in an estimated saving OF Sf''yV' =
Reduction of force in national bank re-
Iemption agency through probable ellr1lhas
ton of assortment BY chaTter nuIfioel9 u
The notes submitted for redemption
In time OF panic or money Strinsehey l-7
,ronosad uniform currency would be parrte-
IIarIy helpful. The banks could then send
-he necessary amount of bonds 10 the near
est Sub-Treasury and get their equlTa Z ~
currency This could be done in the ShoS-
SDac., OF time required for countns tne
bonds and making the book entry, IN 1st'
banks sending TO Washington Ior tielL s .~-
notes had 10 wait sometimes three or four
weeks before the currency could DO sup
piled - . ,,-i,--
tr,ase changes in the banknotes IS rhe IacL
rhat they will render possible changes N
vii sny-e the government more than Sotl,'"
a Year and will give the people a cleaner
-nor,s convenient and more artistic cur