Rensselaer Republican, Volume 28, Number 15, Rensselaer, Jasper County, 17 December 1896 — A GREAT CONVENIENCE. [ARTICLE]

A GREAT CONVENIENCE.

A Prominent Banker’s Views of the Express Money Order System. Morris M; White, the President of the Fourth National Bank at Cincinnati, Ohio, is a representative authority on banking matters. He is probably at the present time one or tne most influential men of finance in the Western country, and his opinions are received wU-h the greatest regard, by the banking and commercial public. For several yeafs he was the President of the National Association of Bankers, and the naemjjers of that association, embracing all the banks of consequence in thjp United States, will cheerfully join in a tribute to his ability and honor. In Cincinnati, where Mr. White is best known, he is appreciated by the public, because of his good, strong, common sense. In a very pleasant interview which the editor of the Express Gazette had with Mr. White recently lie very tersely expressed his disapproval of the agitation which originated among a few banks against the express money order. Mr. White very candidly stated that he looked upon the money orders issued by the different' express companies as one of the best instrumentalities in the promotion of commerce that had been devised, and that, far from antagonizing it, he was in favor of promoting it. His idea is, that express money orders are. after all, simply a business competition of express companies with the postofflee department, in the remittance of small amounts, and that, if there were any reason or sense in objecting to the express companies issuing such rnohey orders, that same objection might apply to tlie postofflee department. Mr. White also stated that, these orders being generally issued in small amounts, as a matter of fact the banks should not object, because it, relieved them from the responsibility of issuing small drafts, which were not only embarrassing, inconvenient and unprofitable to them, but very often opened the door to forgery and loss. . Mr. White further stated'that he looked upon the relations between the banks and the express companies as being of a mutual and co-operative character—that the service rendered by the express companiel to the banks was not only necessary, but so indispensable that he did not understand why they should be in hostility toward them. Last of all, he remarked; “Whatever benefits the general business ofh the country also benefits the banks-f and as the express money order is such a great convenience to the deyelopment of that business, I am certainly in favor of it.” It was indeed gratifying to hear such talk from a representative banker, and the candid views that Mr. White ox :r pressed ought to teach an object"lessen to the few bankers who have deemed it a duty to antagonize a great public- convenience—-the express money order. Talk like this indicates sound judgment and the reflex of profound experience.—Cincinnati Express - Gazette.