I bought a random collection of postal stationary, including a bunch of cut squares. How does one tell the difference between, e.g., U356 and W357, when looking at a cut square? Both manila paper, same printing.
I suspect it is a wrapper because the paper feels sort of thin and, well, cheap.
A typical envelope of the period has an indicium set down from the top of the envelope in the range of 4.5mm - 10mm.
Either an envelope or a wrapper could be cut short.
However, a wrapper has a lot of real estate above the indicium, so if you had a cut square with, say, a bit more than 10mm above the indicium, then you probably have a wrapper.
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