Mr. Hubbard’s plan of allowing “messages requiring immediate despatch to
have priority of transmission on payment of extra rates,” would abolish
the rule which has always been observed since the establishment of the
telegraph in this country, “first come first served,” and give
privileged persons the priority in the use of the wires. What an
excellent opportunity this would afford speculative combinations (like
that which locked up twenty millions of currency in Wall Street a short
time ago) to extend their operations all over the country, by
practically controlling the telegraph?
This plan would not answer at all. No system of variation of rate is
feasible, consistently with public policy, but that which offers a lower
rate for business which will consent to be delayed until another day.
In regard to the establishment of a money-order system by telegraph, we
would say that we have long done something in the way of transmitting
deposits and money orders by telegraph. We have made no effort to bring
it prominently before the public, with a view to extending this
department of our business, for the reason that as an established system
it would be comparatively easy for rogues to abuse it. It is only
resorted to in cases of great emergency, where money orders by post
cannot be delivered in time to meet the necessities of the case. It is
also confined mainly to the transmission of small sums. It involves
necessarily the sending of two messages. Large amounts required in
commercial transactions are daily transmitted or exchanged in this
manner by the regular banking houses in all the principal cities.