The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-09-28
WILL SYSTEMATIC
ALL PAPER MONEY
TREASURY DEPARTMENT WILL
REDUCE DESIGNS APPEARING
ON ISSUES FROM 10 TO g.

and reduction in the size of pa
per currency. No less than ~ mis-.
| cellaneous portrait ana historic de
signs appear upon the issues now
current. These serve no useful pur-
pose in identifying the denomination
OF notes with the designs they boar.
nor have they been selected accord
ing to any scheme of historic bal
ance. As an example of existing con
fusion, the present dollar certificate
bears the portraits of both Lincoln
ana Grant. The plan is to geduoe
these 10 miscellaneous designs to
nine selecting the portraits with
some reference to the importance
and position of their subjects in
American history and using the same
portrait on one denomination through
out. The faces would be placed in
the center of the note and would
enable the holder to determine at
a glance the denomination.
The department might feel war
ranted in proceeding to change the
designs Of the notes without await |
ing the suggestions of banking insti f.
tutions, but a somewhat different I.
proposition is presented in the plan /
to reduce the size OF the notes to |
6 by 212 inches. Tne department .
recognizes that public convenience /
is more or less involved in sys-
tenn to which most of the cash .
draw ers and pocketbooks of the coun-
try have been adapted, hence it is
disposed to welcome criticism and
suggestions from bankers and bus
mess men before attempting any
radical change.
The advantages to be expected
from the proposed uniformity in de-
sign and reduction in size of the
national bank notes as outlined by
Mr.. MacNeash may be summarized
as follows:
l. Uniformity with United States
notes and certificates, thus making
all paper issues in circulation OF
the same size, with the same por
trait for identical denominations.
=. Reduction in the force of tho
office OF the comptroller Of tho
in receiving currency from
the bureau of engraving and print. {
ing in its shipments to the banks.
3. Reduction in vault space re.
luired by the comptroller of the
because of the diminution
n the size of the notes, and the
ivodance of the necessity for the J
of the currency to carry S
. reserve supply for each bank, as ;
us stock would lie common to all |
lanks. y
4. Saving OF a large number of
heets which are held ready for issue |
,ut which are Cancelled because the |
,anks for which they are prepared q
% into liquidation. This estimate f.
vas G54 900 sheets in the last fiscal {
ear. At present the treasury has
o keep a reserve stock of notes p
.lways on hand for each of the 1000 q
ctive national banks. The proposed Il
,lan would result in an estimated
aving of $4,000 year. =
:. Reduction of force in national
Dank redemption agency through |,
,robahle elimination of assortment |
" charter numbers of the notes |
ubmitted for redemption. |
6. In times of panic or money /
the proposed uniform cur
ency would be particularly helpful. H
he banks could then send the nee II
ssary amount of bonds TO the near II
1t sub-treasury ami get their equiva- II
ent in currency. This could be done II
n the short space OF time required II
or counting the bonds and making II
he book entry. In 1907 banks send II
lg to Washington for their own H
otes had to wait sometimes three II
r four weeks before the currency II
1uld be supplied. II
z The main advantage, however Il
{ making these changes in the
ana notes is the TACT that they II
II render possible changes in our Il
ther forms Of paper money which
i'll save the governmen, more than
200, coo a year, and will give the
cope q cleaner, more convenient II
nd more artistic currency. II
Don't Break Down. II