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

Secretary MacVeagh's proposition to
reduce the size OF paper currency is not
meeting with the approval OF Washington
business men. The suggestion of the
Secretary Of the Treasury TO systematic
the designs Of government notes and
gold and silver certificates is looked upon.
however. with favor.
The principal argument used against
the Secretarys suggestion to cut down
the dimensions OF the notes is that II
would cause a revolution in the circulate
Ing medium that would involve an enor-
nous expense to people all over the
country and result in confusion IN banks
and large business houses that would
not end for several years.
The economy which the Secretary
claims would be effected, business men
say, would be more than offset by the
expense that would fall upon the people
as a result of the change. II Secretary
MacYeagh waits for the bankers and
business men 20 approve his scheme, It
is not likely, II Is said. that the change
will be made
President Guide. Of the Chamber Of
Commerce. when asked what he thought
Of the proposition, said:
Would Cause Annoyance.
IF the United States government is re-
duced TO the necessity Of instituting an
economy by cutting down the size Of our
bank notes, 1t is in pretty bad shape. II
seems 10 me. II looks 10 me Ike a case
Of saving at the splgot and wasting at
the bunghole. The economy resulting
would be so ininitesimal, compared
with the annoyance and additional labor
and expense that would be imposed upon
the banks and the business people. that II
would not be worth while talking about.
Il believe IN economy In government.
but II appears 10 me that this propo-
sition would not be an economy The
present size OF our notes Is all right.
The people are used TO it. and can see
no good reason for making a change II
surely would take ten years to retire the
present circulation. and in that time the
expense TO the peaple would be far great
er than the saving 10 the government. I
do not ike IT, I am satisfied with the
currency as It IS"
3. NJ. Bridget, OF Parker & Bridget.
said:
Il presume Secretary MacVeagh's prop
Osition has greater bearing upon future
generations than upon the present. and
as there is an element Of selhshness in
most persons, which prompts the thought
that the future can take care OF Itself /
should say that the change might be
made when II becomes necessary. do
not believe Il is necessary at this time.
To make a reduction in the size OF our
currency would involve a change IN the
fixtures OF all the banks and large count
ing houses Of the country. and II would
cost the people great deal more than
the government would save. and the peo-
pie are the government It would take
several years. should think. 10 retire
the old notes. and during that time there
would be great confusion all over the
country"
Size Satisfies People.
W. H. Rapley, of the National Theater.
said:
While abroad I had some experience
with the currency Of other countries. and
I must say that was glad to get back
here where 1 do not have TO worry about
handling the French and German notes.
The French notes are wider and shorter
than those in use here, and I found them
very inconvenfent I like the size Of our
bills. and really l do not see why any
one should want TO change them. The
people are usS> TO them, and the PROPOSE