| Show how much does air mail service save imagination rony may be POPULAR P thill thrilled led by the fact act that it I 1 la a now possible to send milli mail from now york to san ban francisco Ban daco in thirty hours but it appears that there Is aliard a hard cash argument behind the now service an actual saving to the business of the country estimated by various authorities at from to a day representing represent ing interest on money transported d cross across the continent congressman af clyde kelly of pennsylvania goes so fur far na as to estimate that the now new service by saying approximately three days on ion the transportation of funds across the country increases our available cash reserve by each day this um duin to ia too large believe the statisticians of the federal reserve bank of new york city but nevertheless they agree the sums released release drun run into the tens of millions congressman kelly nas devoted much attention to tile the economic side bide ot of the service and Is sponsoring a bill in congress greatly to increase its scope ills argument as to the amount of cash released by faster transportation Is about like ilka this in the ordinary course of banking ou business siness we have what Is called the monetary neat float that Is checks or other negotiable papery papers which are during transit unavailable for use A check toche to he malls malla at new york and going by the ordinary route cannot be used as funds until five days later when it arrives in san ban francisco in other words it Is out of use on en route but if that same check reaches san ban francisco franciaco Franc laco 24 to 80 hours after tt lt has been placed in latho the malls mail 1 a at new york the recipient lias has an additional three days in which to make financial turnovers with the money a thing impossible under the old meth oda of transit inasmuch as millions of dollars are thus transported and it Is estimated that the transportation of funds in ono form or another to be distributed throughout the various industrial du centers between new york and san ban francisco amounts to a day it if half of this can bo be released by the night air mall mail there will bel beI a day or n year available for conducting business that Is otherwise constantly out of circulation A network of airmail air mail mall lines of tho the same character throughout the country would release it Is estimated about a day an enormous sum even in a country ua as rich as the united states |
