The method usually used by business men in paying accounts or debts in some other city is to send their creditor a bank draft. Or they might send a check or a promissory note. Other methods are, however, just as safe and almost as convenient. One of these is the use of postoffice money orders, which are of two kinds, domestic and international. Generally speaking, domestic money orders are payable at home, while international money orders are payable abroad. To secure a money order it is necessary to fill out an application blank, which is furnished by the postoffice authorities, stating the name and address of the payee and the remitter, together with the amount of money it is desired to send. On receipt of the application and the money (plus a small fee), the postmaster issues the money order, which is addressed to the postmaster at the place where the order is being sent, who is directed to pay to the payee named in the money order the sum of money stated therein. The remitter sends the money order to the payee, who, on presenting it at the postoffice where he lives, can secure the money on proper identification. All post-offices except a few in the smallest towns are authorized by the Government to issue money orders. Money orders can be used to send money only to such offices as are authorized to issue them. The maximum amount for which a single money order may be drawn is $100. The applications for money orders are kept three years by the issuing office. As previously stated all domestic money orders must be made payable at a designated money order office; but it is very important to notice that those issued at any money order office in the continental United States, excepting Alaska, may be paid at any money order office in the continental United States, excepting Alaska, if they are presented for payment on or before the expiration of the thirtieth day following the date of issue. If they are presented after that date and within one year from the last day of the month in which they are issued, they shall be paid only at the office designated in the money order as the paying office, or repaid at the office of issue. The postmaster will not pay the order until he is satisfied that the person presenting it is the person named in the order. Before it is paid the holder will be required to receipt it. Postoffice money orders may be transferred by indorsement, but only one indorsement is permitted. Many banks will accept money orders on deposit. Stamps of banks which have handled the order are not regarded as indorsements.

Express Money Orders

Express companies also issue money orders, which are payable at any of their offices. The leading companies have offices or agencies in every part of the United States.

Small fees are charged. These orders, unlike the postoffice money orders, can be negotiated any number of times. Banks will receive them on deposit as readily as they will take checks or drafts.

Money Sent By Telegraph

Money funds may be transferred from one place to another by telegraph. Only the larger offices of the telegraph companies are permitted to send such orders and they can be sent only to certain offices. The paying office requires the person presenting the telegram to prove that he is the person named in it. This method of sending money is much more expensive than the other methods, and is used only under conditions requiring prompt dispatch.

Expressing Coin Or Bullion

In spite of the many ways in which funds may be safely and securely transmitted from place to place by bankers or others, it is occasionally necessary to ship actual money and no substitutes will suffice. The safest way in which to send coin, currency or bullion from one place to another is by express. The shipper places the money in an envelope and it is not counted by the express company, which simply guarantees the safe delivery of the package. The cost of shipping money by express varies with the amount and distance. The express companies have one rate applicable to property valued at not over $50 and another for property valued at $50 or over. These rates are regulated by the Interstate Commerce Commission. Large shippers of money are permitted to secure a special rate from the company and the Government is given very low rates. Uniform express receipts are used by all express companies. Funds may also be transferred by banks by wiring to their correspondents in other cities and by wire transfers through the Federal Reserve banks.