General Fiscal Affairs (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. 1896 Excerpt: ... the insertion of the names of employes on the roll after they have left the service; a portion is made up of sums not claimed by the payee because of the smallness of the amount or the trouble of collecting. While it is impossible to determine exactly how the surplus occurs, we know that it axists; that for every million of dollars of wages entered on a roll there will be at least one thousand dollars that will never be called for. But whether this sum will remain in the exchequer of the company or not depends largely upon the method of paying. If the company employs a paymaster and requires all who have anything due them to appear before him and claim their wages, no demand will ever be made for sums entered inadvertently. Such amounts will, therefore, be saved, and it is probable that the bulk of the surplus arises in this way. If, ou the other hand, checks are drawn for every name on the roll and industrious search is made for claimants, real or fictitious parties will be found in many cases, perhaps the majority, to represent them. Thus a company will not only lose this sum, but will demoralize its service through the opening for unfair advantage it suggests. Payment of wages by check does not involve the loss of money in this way, provided the checks are distributed by a paymaster directly to the men upon their calling for the same. Under such circumstances, checks for fictitious wages would remain unused the same as currency. But if, in order to save the expenses of a pay car, the practice is adopted of distributing checks through parties lacking discretion or experience or interest, fictitious checks will be distributed with others. When checks are used, moreover, currency should be sent to pay the roll where it is apparent that employes are unable ...