El Paso herald. (El Paso, Tex.) 1901-1931, 1912-07-06


w smaller. 1t will be only two
thirds its present size; likewise, all other
notes and certificates.
It has been decided that the paper
money IS too big. A dollar bill today
Is more than three inches wide, and 4
little over eight and one-qrarter inches
long. 1t Is to be cut down to six by
two and one-half inches. The treasurer
thinks this reduced currency viii be
vastly more convenient to handle.
In addition. 1t viii save 4 good deal
OF expense. The saving on paper alone
for 240.000,009 notes issued per an
NUM- viii amount to SS7, 900. There
viii be an increased output OF at least
% per cent for Il given amount OF labor
at the bureau of engraving. where all
the paper money Is printed. This gain,
carried through all the processes OF
printing, examining, counting, drying,
numbering, etc, Will In itself represent
be $612,600 per annum.
The notes being smaller, less engrdV.
ing viii be required for the plates from
which they are printed. Less ink viii
be used-an item much more important
than one might imagine. Taking other
items into account, it Is recNOned that
the total saving to the government by
reducing the size OF paper currency VIII
beS612.600 per annum.
VIII Have Longer Lie.
4 dollar bill of the new size is eN-
pected to have Il much longer life than
one of the pattern now in use. ReqUlr-
ing one less fold In order to he slowed
away conveniently in the pocket or
pocketbook, it viii last at least one
third longer III circulation. according 10
the estimate of the treasury experts.
Consequently. there viii be fewer notes
TO be redeemed as unit Tor further Use
and the force of the redemption division
at Washington can be cut down suffl-
GENTLY to save S50.OUO year IN sal
aries
When 1t Is considered that it costs
The government 1 cent to print paper
dollar and put 1t into circulation, the
Importance of pr0lOnging its life be-
comes manifest. Fortunately, the treas
Ury has had an opportunity TO make
some advance tests, as they might DC
termed. of the small size money. Al
of the paper currency f-the Philippines
which has replaced the old Spanish
notes. has been printed at the bureau
of engraving. 1t IS of exactly the SIZE
now proposed for our own gTeenbacNs
and certificates-Uhat Is TO say, SIX by
two and a half inches. Up to date It
has proved exceedingly satisfactory ii
all respects
The new paper money Is small enough
to be carried flat-that Is, without fOid-
ing-in a pocketbook OF very moderate
size. 1t viii be much more easily
handled. Experiments made with bank
clerks and telleTs in Washington re-
Gently have shown that the small notes
do not cramp the fingers as do the old
ones. And they have the additional adj
vantage that banks can store IN their
vaults % per cent more OF them within
a given space.
The Principal Objection.
The only objection to the new de-
parture seems to be that for some time
there viii be two sizes OF paper money
in circulation. But this difficulty IS 10
be Obviated as Jar as possible by pre-
Taring in advance great quantities OF
the small notes. which on 4 fixed date
will be changed for the big ones at sub
treasures. banks. and other large
financial institutions all over the eoun-
try
incidentally, 1t Is planned to reduce
the 10 designs on the currency now IN
Use to nine, using the same portrait on
one denomination throughout. Thus the
81 bill. whether treasury note, bank
note. or certificate. viii bear the head
of Washington in the center OF Its face
Its holder viii know the denomination
without looking at the numbers on IT,
Cashiers OF banks. and others VINO
handle money, viii be enabled thereby
70 detect cOunterfeits more readily. For
nothing Is so hard to counterfeit as q
portrait, the engraver OF which cannot
TeprOduce his own work with eXactnesS
The slightest variation alters the eX-
preston of the face; and money hand
Iers ret accustomed to carrying Such
printed faces in their memories.
For the backs OF the notes and GER
tificates, more artistic designs are want
ed. and these, for use on the new paper
money, Will be solicited from the best
artists. in competition. At present. the
DESIGNS are not only inferior in an
artistic sense, but confused. For eN-
ample. on the IS national bank note a
Dortrait of Benjamin Harrison Is used;
on its reverse IS a picture OF the Land
inc of the Pilgrims. What connection
or association of ideas there can be be-
tween the Pilgrims and Mr. Harrison IS
not apparent On other pieces Of
money are Indian chiefs fronuersmal
protecting his family with an ak, ana
other such pictorial freaks oil no mag
Unable significance.
When Mr.. Taft became president 0.
the United States, an engraving iron
one of his photographs lchOsen for thu
purpose by himselfl was made for us'
on paper money. Eventually. it will b
thus employed. but not 5mtn after hi.
death. because it Is against the rule
to print the portrait of any living MAJ
on our currency. In earlier days Their
was no such restriction, and one find
that in the days of the civil war tn
Iikenesses of several men thus ap
Deared-fOr example, that Of Genera
Spinner, on the 50-cent and other frae
tional notes.
If somebody other than Mr.. TAFT be
comes president next March, a simila
engraved portrait will likewise be mad
of him at the bureau of engraving, an
viii be added to the collection of sue