The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-09-14

ton that II would save the government
money TO reduce the size Of the notes
does not appeal to ME as a sufficient
reason for mountaineering 100000 OF
people"
IF it were left TO me, I should say
that the present bills are all right in size,
and do not need any change" said NJ.
Goldenberg. the dry goods merchant.
The banks. of course handle a great deal
more money than business houses, and
bankers, I suppose, will have the ulti-
mate say in deciding this question. but
believe II the people were consulted
they would emphatically disapprove of
any reduction in the size Of our notes.
There Is no good reason for IL. so far
as can see, and it certainly would cause
every person who has occasion to han
die large numbers Of bills every day a
great deal Of additional labor and annoy
ance II it were necessary to assert the
small and large notes. Besides, the liabi-
ity OF loss would be great, because many
small notes would he sure 70 be lost"
Emphatic in DisapprOvaI.
James Lansburgh. OF Lansburgh & Co,
was emphatic in his disaproval of
the proposed change. why should the
people be put to this Inconvenience, he
said. Il do not see anything wrong with
the present bills. except that there are
not enough Of them. l do not think Sec
rotary MacVeagh's arguments are good
1t seems 10 me that the convenience of
the people should be consulted. and IL
certainly would cause a deal Of incon-
venience to have two sizes of notes in
circulation at the same time
1T is easy enough 10 lose money in
its present shape" suggested Ira ]. La
Motto, manager Of a moving picture house.
IF the notes were made smaller they
would be much more easily lost because
they could slip out Of ones pocket.
whereas the present note feels pretty
snug. and most men carry their money
in their pockets and not in their pocket
books I venture that 50 per cent OF
men do not use pocketbooks these days.
and the argument that If smaller notes
were in use they would not be folded, and
thereby increase the life Of the bills.
would not hold good.
The smaller bills would be folded Just
as those now in use. There is another
argument, It seems 10 me, against chang
ing the size OF our bills, and that is be-
cause Of our proximity 10 Canada. The
bills In use In the Dominion are OF the
same size as those OF this country, and
there is no disposition. suppose. to make
any change across the border. Handling
two sizes Of notes.-the Canadian and
the United States notes-in the border
cities surely would cause a lot OF con-
fusion. I cannot give my Endorsement 20
Secretary MacVeagh's proposition"
Fred D. Farnsworth, secretary OF the
American Bankers Association, in an
interview In Washington recently. said:
Reduction Not Favored.
THE suggestion has been brought %
the attention OF the American Bankers
Association. but rot in an Official way.
and no action has been taken. but the
association, in my opinion, would not
favor any reduction in the size OF the
VIII be made II the Treasury Depart
ment should carry out the proposition I
believe the bankers would oppose it,
In the first place. 70 reduce the size
Of the notes would result In the handling
In all banks OF two sizes, and this
would cause a great deal OF additional
labor on the part OF bank clerks and
tellers and 10 ali other persons who
handle money in large quantities Il
would be many years before all the old
notes could be retired.
The suggestion has been made that
notes OF different denominations should
be printed In different colors. For in
stance. 81 notes in green, 50 notes in
blue. S notes in pink, and so on. This,
I think. is a good plan. II would make
II much easier to distinguish them and
would facilitate their handling. The
suggestion has also been made that the
notes be printed with no top nor bottom.
but with a numerical designation on all
four corners. Just as playing cards are
printed. I believe this would be a good
idea"
The claim that the smaller notes could
be handled more easily by bank clerks
and tellers is disputed by the employees
Of Washington banks, who almost uni
versally declare that the present size IS
much more convenient to hande than the
proposed smaller notes would be. This
expression was voiced az the meeting OF
the bank clerks, when a resolution was
unanimously adopted protesting against
the proposed change.