South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-03-27
COIN ~ LEGAL TEN.
DER FOR STREET CAR FARES.

DER FOR STREET CAR FARES.
South Bend banks having decided
that there will be no discount on Can
adian money. at least until present
conditions are considerably changed
the only embargo remaining seems TO
be that of the Chicago. South Bend
& Northern Indiana street railway
company. In fact the only real re-
strictiOn Of such order that ever has
existed locally appears To have eman-
ated from that concern. When the
agitation began here, due 10 an
nouncement from the street railway
magnates, and the posting Of signs in
the street cars, refusing acceptance
Of Canadian money for fares. the
banks began an investigation and
took the matter under Amusement.
The result has been a finding that
there is no more Of an excuse for
refusing or discounting Canadian
money now than there has been in the
past and that accordingly no such dis
count VIII be imposed by the banks.
Canadian money is accepted in Chi
cago from the local banks at par, less
the usual rate of exchange-abOut
1 10 per cent. That is all there is 10
it. Several local banks have always
discounted Canadian money two per
cent when brought in i'm sufficiently
large quantities TO make il worth
while to discount IT, However. the
South Bend bank that gathers in 500
a month in Canadian coin is regarded
as having done an unusually big bust
ness in that line. II makes one we'll
nigh feel sorry for the street railway
company. u would be too bad. if,
under it's local system Of straight five
cent fares. it should happen to gather
in a hundred dollars or so in the
course Of a month, and that the banks
should discount il, when deposited in
bulk, say, two dollars or four.
1t would take 1000 passengers at
five cents, or, if they unloaded a
quarter each on the street railway
company, then 500. to put over this
wonderful $500 loss. OF course, Can
adian coin is not legal tender. You
can cblige the street railway magnates
for informing you on this decidedly
legal point, and. Of course, you would
not expect these honorable gentlemen
tc do anything in South Bend that the
law does not absolutely compel them
TO. To suggest to them that they
might be just a trihe accommodating
To a passenger who might chance to
have "a Canadian coin. this, when the
law does not insist upon it, would be
To break down a reputation for per-
sistent Inconvenience. that people here
might never learn how to get along
without.
Indeed. yes. It is important that the
people be held down tight to genuine
legal tender I'm the matter of street
cars fares. Legal tender in the mat
ter OF street car rides however, is
different matter One would think
from the stress put upon it in the
posted notices that Canadian coin no
longer counted for anything. 1t would
be just as well if less of it were in
circulation here but as long as it
continues 10 circulate, and the banks
are willing 10 take il. it is difficult to
guess why the street cars shouldn't be
he as liberal in accepting it as anyone
else
nc il is disposition of the mag
mates. just To show the people, "by
heck" that they're running the car
lines" and that the public must
knuckle down with the kind of coin
that they want, in nationality as well
as amount, then very we'll and good.
The public wants 10 know. Perhaps
it would increase the traffic if the COM
pany should next insist that all fares
be paid in nickels Of the buffalo" de-
sign? The south Bend banks are TO
be congratulated on placing this Can
adian coin situation before the public
in its true light That the people may
know exactly where the responsibility
q liae