Every evening, Wilmington daily commercial., 1920-05-21
Simplified Currency
By Frederic j. Haskin.

Washington, ID. c., May 1S.-Ihe
!. average American who goes about Win
rubber band around his roll of money or
who carries lone bill or two III hls vest
pocket. little appreciates the TACT That
there are 10000 varieties of paper cur
rencv printed by the Federal govern
ment The average individual pays al
most no attention to detail OF the sort
of bills he accepts as legal tender. lie IS
likely to he surprised if he opens hls wallet
and finds that Of the five bills contalned IN
il. no two are alike He pays no attention
whatever to the fact that some oi tloSe
bills are silver certificates, some ol tielh
are national bank notes. and some oil theih
arc Federal reserve currency. lie merely
has the feeling that the United states
government is back Of them and that they
are consequently as good rs gold
In this last impression he ls entlrelI
correct All of these bills are equally good
and If ANYBODY uses rs Nancy paper
which is not Of proper issue, paper when I, j.
counterfeit. the Federal government VIII
trace that papcr to It's origin and PUNISH
those who are responsible for It. Occasion
aIlv. however. the mere individual stops 10
wonder If this extremely complicated cur
rencv IS n necessity or II II would ne pos
sihlc 10 oct along with a much siinpiileo
method of issue.
REDUCE 10000 TO s1X
L,ao. lanes H NIoylc. an assistant
secretary of the treasury, haNiilS .l.oi =
- tba Rureau of Engraving and frlntlhe,
has boon doing a bit Of wondering ana
.nnvertinc his sneculation into lnVeStea-
RON 10 find out II it Is not posslhie to
s;,nnl,f,, the government issue oi paper
money He has reached very detIhnc
-.,n.lnsions Those conclusions are 70 iitc
,Tsft that It would he possible, adNiSahle
and economical To substitute LOT Wy
~ oaO varieties of notes now isS'lcd ~ ~"
.,'',,1+ ~ varieties lie believes
,.ar,otios Of currency would serve
tbr nnblir purpose and the tahhlhg pIr-
,,osc of the nation as effectively as 90 'iic
~ oOO varieties. He believes thal Iedtt-
no : worry complicated currency to very
sImDle currency would be IN the interest,"
o( the whole people. lie deii'oilsil'VS
that such simpllhcatIon oi money rianu-
f9ctllrc and issue would save liie SoN'ih-
mont NJ least S5OO,000 year.
Having become convinced from an ~
yestieation III the Treasury iieI1art me-. i'le.'
INSTABILITY of simplifying thc ISSUES
!, ,..,rrency Judge Movie took the qucs-
t.,n i'm with many individual bankers
ami finally With the American hankerS
,,.,at,nn Ills plan has met with att
,',1,st Universal approval from the mem
t',,- af.tiis tsSofiation. 10 baakcr IS
,,.,ntel to Ins,lrmountablc difficulties 1T
,sau.,x of tnls proposed simphhcatlon.
EXPERTS FAVOR sIMPHFlCATIoN
& matter of fact the proposal i lot
.,tiroiv now. Experts III the Treasury
nn,arfnent have nut il forth from time q
lme for the past ten years. John 8.
Hcrndon. one Of these experts stu II the
Treasury. proposed similar reform II
1912 and a 'hill was al that time ntroduc-
ii ato the House Of Representatives hv
john .. Tilson Of Connecticut. The pro-
posal to simplify the currency ha~ often
arisen since, but has never been fought 81
al actual enactment into law
The currency issued by the government.
tie paper money which everybody pseS, p
Topsv affair which merely grew Of itself.
avcrv development Of the banking system
Il the nation seems to have called forth
5cgv issue Of paper money. - complicated
az grown the structure that few people
-4vc the temerity To SAY that ther sn.ler-