Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1912-08-23
TO CUT down SIZE
Paper Money Bins Are TO Be
Made Smaller.
ks~ Currency Can Their 8s Carried
ln . Pocket Book Without Fold.
ins--only Objection 10 Two
Sixss Of Money.

ins--onIy Objection 10 Two
sisss Of Money.
washington.-Despite the fact that
the rise In the cost Of living within
recent years makes dollar look
smaller to most OF US than It did .
decade ago. the treasury department
has decided to make the bills smaller
than they are at present-not the
purchasing power Of the currency. but
the size OF the bills themselves.
II has been decided that the paper
money of today IL too large for con-
venient handling. A dollar bill 10 now
over three inches wide and little
over eight and one-Quarter inches long.
II II to be cut down TO six by two
and one-ha1f inches. The treasury
thinks that this reduced size OF the
currency will be vastly easier to han
die and 1t 10 certain that It will mean
. large annual saving on Uncle Sans
expense bills for paper.
The economy on paper alone ffor
20. 900 900 bills issued per annum)
win amount to $1,000. Then there
viii b an increased output of 1t
least Is per cent for . given amount
Of labor 1t tho bureau OF engraving
and printing where oil the paper
money 10 manufactured. This gain.
carried through al the processes Of
printing. examining. counting. drying.
numbering. ETC., viii in itself repre-
sent more than 500. 900 . year.
The notes being smaller. less en-
craving win be required for the plates
from which they are printed. Less
ink will be used-an item more i'm
portant than one might imagine. TAX.
ing other items into account It Is
reckoned that the total saving to the
government by reducing the size OF
paper money win be IN the neigh
borhood OF $s15.ooo per annum.
In addition, It IL expected that the
life" OF = dollar bill Of the new size
viii be much longer than that Of one
OF the present series. Requiring the
less fold to be slowed away conve-
niently in pockstbook or bill-fold Of
the ordinary size. 1t Will last At least
one-third longer IN circulation. accord
ing to the estimate Of treasury Of
dcials. Consequently there viii be,
fewer notes to be redeemed UNIT
for future use and the sS6rce Of the
redemption division in this city can
be cut down dhmciently to save some
$4,000 g. Year in salaries.
,Tnen It 10 considered that It costs
the government one cent to print .
paper dollar and put It into circula-
ton. the importance Of prolonging its
life" becomes manifest. Fortunately,
the treasury has had an opportunity
to make some advance tests. as they
might be termed Of the smaller
money. All the paper money Of the
Philippines (which has replaced the
old Spanish notes) has been printed
ut the bureau Of engraving and print
ing In this city. 1t 10 Of exactly the
size now proposed for our own green
backs and certidcates-sixb by two and
q half inches. Up to date It has proved
satisfactory In all respects.
The new psper money will be small
enough to bs carried flat. O.. with
out folding-in a pocketbook of mod
crate size. 1t will also be very much
easier to handle. Experiments made
with bank clerks and tellers in this
city recently have shown that the
small notes do not cramp the fingers
as DO the old ones. They have also
the additional advantage that banks
can store In their vaults 25 per cent
more of them within q given space.
The only objection to the new de-
parture seems to be that for some
time there will be two sizes in cir
culation. But this dihculty IL to be
obviated a. far as possible by pre-.
pairing In advance large quantities OF
the small notes. which, on q given
date, will be changed for the big ones
at subtreasuries and other large f.
nancial institutions throughout tho
country. BY this means 1t Is hoped
that all the large" bills will be col.
lected within two months after tho
small ones are put into circulation
and that this plan will obviate the
confusion which would probably re-
suit from the two sizes of bills being
In circulation at one and the same
time.
In addition to changing tho size Of
the bills 1t Is also planned to reduce
the nineteen designs now on the cur.
rency to nine, using the same portrait
on one denomination throughout.
Thus, the 81 bill, whether treasury
note, bank note or certificate, will
bear the head Of Washington in the
center Of its face. Its holder will thus
know the denomination without look
ing at the figures and cashiers Of
banks and others who handle great
quantities OF money will be enabled
thereby to detect counterfcits more
readily. I'd.
MANY VISIT MOUNT VERNON.
The visitors to the home OF Wash.
ington. Mount Vernon, during the past
year have numbered $4,000, the to-
40 -on~lnx~ vnrD~$~J <,~.~