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POSTAL LI'OTES, AtO,%'EY ORDERS, BAA'A' CHEQUES. 321
by the same persons and in tho same premises as the general
post business, and we can by no means bo sur0 that each of
the functions of a postmaster is separately paid in dogre0
adequate to its trouble. Nevertheless, the Cheque Bank,
according to its last report, nom about pays its way, in addition
to paying a considerable revenue to the Crown.
There is needed but one change to set tho wholo matter
right, and that is to reduce tho stamp duty on small cheques,
say those under A5 or &3, to one halfpenny. 1'110 penny sttunp
duty on receipts, as everyone knows, is not required in tho
case of receipts for less than $2, for the obvious reason tllnt it.
would be absurdly oppressive in the case of small receipt$.
But exactly the same reason holds good for reducing the tau
if not abolishing it in the case of small drafts. There nocd bo
no practical difficulty in doing this; for an Act of Pnrliament
of litt,le more than one clause might' cnnct that nny cheque
form of any banker, bearing upon its fncc IL printed and also
an indelible perforated notice thnt it can only bo drawn fur n
sum of (say) A5 or under, may be impressed at tllc Stnnlp
Offices with a halfpenny stamp, and shall then bo deemed duly
stamped, all previous Acts notwithstanding, in the samo way
as if it had, according to the Stamp Act of 1870, been impressed
with R penny stamp. Such a change in t,ho lam would
.create no monopoly for tlle Cheyuo 13nnk; for if the success
of this bank became considerable, competitors would soon
spring up, and there would be nothing to prevent any bank
from supplying its customers with halfpenny cheques for small
drafts. No doubt, the Cheque Bank, in urging thc rednction
of the penny stamp dut,y, does so from n weak, because an
interested position, but it is possible for other persons t,o
advocate the same measure from a purely public and dieinterested
point of view.
In the use of such small cheques there is nothing economically
unsound. The experience of the Cheque Rank has
shown that their cheques do not circdate for any considerable
length of time. Being drawn for odd sums, needing endorsement
and being all croseed, it is not likely they should circulate.
They are exceedingly safe for postal transmission; no post
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