South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-12-25
REPORT SHORTAGE
OF SMALL BILLS
Business Men Appeal to Treas
ury Department For Re-
lief From Situation.
BY LOUIS LUDLOW.

NCws-Times Washington Correspondent
WASHINGTON. Dec. 24-A short
age Of small bills and coins is caus-
ing distress in business circles in
many parts Of the country and the
treasury department is being be-
sieged with appeals for relief.
At this particular time, owing 10
the demands for Christmas shopping
and for moving the crops, the need
Of small currency is felt more keen
Iv than at any other time Of year.
The entire midwest is hit by this
shortage of minor currency, which
is proving so much OF a handicap
20 business that special appeals are
being made 10 the treasury depart
ment officials to rush small bills and
coins to the Cincinnati sub-treasury
which is a logical distributing point
Monte J. Goble. vice president of
the 53rd National bank of Cincin-
natl. has taken the matter up with
John Burke, treasurer Of the United
states. and Carter Glass. secretary
OF the treasury, and his letter clear
Ilv sets forth a widespread condi-
ton. Writing to the treasurer OF
the United States Mr.. Goble says:
Dear Sir: At this time Of the
year banks all over the southern and
middle states call upon us in great
numbers for shipments of small col
and small bills in connection with
the movement Of the crops payrolls
for mines. manufacturers and alsc
for the holiday trade.
THE demand seems now to be
moro than the local .subtreasury car
meet. especially as to every charac
ter Of small coin except silver hall
dollars. They have been refusine
on account of inability to fill com
pletelv our orders for pennies
nickeIs. dimes. quarters, as well as
| orders for one and two dollar bills
Poor Circulation.
"Silver dollars will be supplied
/ if we will give them one dollar sill
yer certificates. but, of course, you
! know there arc not many in circula-
ton. It does not seem as though
the federal reserve banks have made
up sufficient one and two-dolla
| bills 10 take the place Of one and
/ two-dollar silver certificates.
/ If this condition is to continue
we probably realize as much as any
one what it will mean; it will near
| that the handling of crops the max
| ing up of payrolls for manufactur-
ers. miners, railroads and every
/ thing else in the southern and mid
die states will be seriously handi-
| capped, and I suppose If this condi-
ton obtains here other sections vii
be similarly affected.
IF, however, any quick relief car
be given to the Cincinnati sub
treasury so that they can fill thes'
many orders that we are getting
from out Of town banks, it viii b,
helpful Doubtless many Othe
banks in this city are getting 4;
great number Of orders just as W
are getting many orders direct.
Serious Situation.
1.-The seriousness of this situation
appeals 10 us and we feel that W
should submit the matter to you 70
your information, as we'll as you
s 1gges.ions. and any relief that cal
be rendered Thanking you, an,
hoping thai if it is at all possibl
the Cincinnati subtreasury viii b
supplied for the benefit of bushes
! generally we remain, very trul
yours,
MONTE ]. GOBLE."
Frank J. r. Thiel deputy assist
ant treasurer of the United States
said that the shortage of small cur
, rency complained of in the mid
west is not peculiar to that region
, but that similar complaints ar
$ coming in from all over the coun
S try.
I'VE are dOing our best to sup
q ply not only the Cincinnati sub
t treasury. but all the sub-treasurie!
t with one and two-dollar bills, an
coins" ne said The condition
p aggravated because of the demand
= of crop-moving and holiday time.