limited, only protected. There would be no blank cheque pads, as now, lying about in every conceivable place, inviting the witless to write cheques against insufficient funds; or forging a cheque against another person. It would be a felony for any person to be found in possession of a cheque book, which he had not bought from the Depository. Inasmuch as money would be available in large volume, the people would use cash a great deal more than now. A depositor would exchange deposits for cash and exchange cash for deposits — they would be interchangeable. They would be dual cheques. They would have the Secretary of the Treasury’s signature, making them legal tender money, when you signed it properly; and this would make them your personal cheques. Of course with these cheques flowing freely throughout the nation, you would never buy a postal money order, an express money order, nor a travellers cheque from others. You would use your own cheque instead. That would save the people of the Nation hundreds of millions of dollars a year, and endless hours going to some money order station for a money order. This Treasury cheque in a 3-cent postage envelope would pay a bill anywhere in the Nation. Congress would compel all persons, firms and corporations to keep their money on deposit with the Depository nearest them, and outlaw anyone lending another cash, and taking a note for it, because there would be no way for Congress to keep informed of loans, their size, and the terms of the loans, etc. This must be known, because the total supply of money must always be under the direct control, and the watchful eyes of Congress.
The Minting and Engraving of Currency When the Treasurer orders the Bureau of Engraving to mint and print an abundance of currency, rather prodigally, they might mint and print ten times the amount needed, and that would not affect the total volume of money one penny; because the cash would never be on deposit as money; it would never be used, or even considered monetary values, until a depositor drew cash out, and on it re-entering a depositor’s hands, it would become actual money, legal tender, and serve in lieu of the personal cheque in making small