Receiving Money By Telegraph - 1910
All telegraph companies accept orders, both domestic and foreign, for immediate transfer of money by telegraph and cable. It is sometimes imperative to obtain large or small sums at the, shortest possible moment, certainly within twenty-four hours.
Formerly this branch of the business was in the hands of bankers, but now the cable companies and telegraph companies are able to pay money in places all over the world.
The organization of telegraph and cable compapies is a most complicated one, and there are many factors which control the rates. In general it may be stated that money can be sent anywhere in the United States at a premium of one per cent., minimum charge twenty-five cents, plus the telegraph tolls for a ten-word message.
For money sent abroad the premium is one per cent. with the minimum charge of fifty cepts, plus of course the cable tolls, which will vary with the length of address, etc.
Fullest possible information can be obtained at any telegraph office where a special tariff hook of some 250 pages may be consulted. For some coun tries, such as those in Central and South America, the expense is much greater than we have noted.
The British Postmaster-General has entered into an agreement with the Western Union Telegraph Company for an exchange through that company so they will telegraph money-orders between the United Kingdom on the one hand and Canada and the United States on the other after January 1, 1910.
The largest amount for which a single money-order may be issued in the United Kingdom will be i40 sterling, but for orders issued in the United States and Canada for payment in the United Kingdom the largest amount will be £41 is. 4d., which is the equivalent of $200.