Report of the Military Governor of Cuba on Civil Affairs [Dec. 20, 1899-Dec. 31, 1900] Volume 1, PT. 3 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 Excerpt: ...increase in money orders issued on the United States as certified by the Habana office for the quarter ended September 30, 1899. During the previous fiscal year for the quarter ended June 30, 1898, 11,402 international orders were issued, payable in the United States and amounting to $340,724.06, while in the quarter ended September 30, 1899, referred to above, 26,655 international orders were issued, amounting to $1,828,431.35. At this time the fee charged for the issue of an international money order was the same as that charged for ttie issue of a domestic money order and it was much less than the rate of exchange charged by the banks. In consequence of these facts, many of the business houses and even banking houses used this system as a means for sending large sums of money to the United States. Under these conditions the money-order business expanded to such an extent that the matter of transferring the funds from Cuba to the United States became a difficult problem. As it is not the object of the money-order sytem to supersede the usual channels of financial exchange in general business transactions, the following orders were issued to check such an increase in the volume of business. On September 12,1899, an order was issued that "on and after September 18, 1899, the sale of foreign money orders on the island of Cuba will be limited to five orders in one day by one remitter to one payee," and on September 19, 1899, announcement was made in the weekly bulletin that the rates of fees on international money orders to the United States and Porto Rico had been changed from 30 cents to 50 cents on each $100, as follows: Cents. For orders for sums of $20 or less 10 Over 820 and not exceeding 840 20 Over 840 and not exceeding 860 30 Over 860 ana n...