INFORMEDdebate
YES
Is cash on
its way out?
from members:
Jeanne Johnson
Tucson, AZ
It is easier to balance
my checkbook and see
where my household
spending is going with
the use of my card.
THE EXPLOSION OF electronic money—including credit
and bank cards, online transactions and paying by mobile
technology—has some observers predicting that physical
cash will soon be a thing of the past. It’s a good thing,
they add, since a cashless society will make life more
convenient, eliminate the costly manufacture and
distribution of physical money, and help reduce
criminal activity and tax evasion.
Others argue that cash’s demise
is not imminent as long as the fees
associated with electronic money are
high. Americans still prefer paying
with cash, especially for small
purchases—and better security
measures are being introduced
for paper money.
What do you think?
Jerry Sparks
Huntsville, AL
From a business angle,
it would save trips to
the bank and increase
security by not having
cash on-site. [The trans-
action fees] are a small price for
security and convenience.
Danele Velasquez
Colorado Springs, CO
My husband’s check
goes straight to the
bank. We are less
likely to spend money
... because it never
goes in our pockets.
NO
from members:
M.H. Coney
San Antonio, TX
I think cash will
always be used since
there is the potential
for your identity to be
compromised.
Kathyryn McAlister
Rochester, MN
An element of
our society would
remain disenfran-
chised and could
not manage trans-
actions without cash.
Find out more about this topic on the Web:
•;
www.businessinsider.com
(Search: “Why We’re Still A Long Way Off From A Cashless Society”)
•;
http://knowledge.wharton.upenn.edu
(Search: “What’s Good for Banks May Not Be Best for You”)
•;
www.fee.org (Search: “Toward a cashless society”)
•;
www.cnn.com (Search: “The death of cash”)
DOLLAR SIGN IN TRASH IMAGE: © DATACRAFT / AGE FOTOSTOCK
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John Mueller
Seattle, WA
