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banker, customer and notes

CIRCULAR NOTES.—In order, when travelling abroad, to obviate the necessity of carrying large sums of money, or of being put to the incon venience and delay of writing home to one's bankers for further remittances, it is a usualice to carry circular notes. These notes may be obtained from a banker the total amount required, and will be divided up into smaller separate amounts to suit the convenience of the customer; thus, instead of one note for £100, ten of £10 each may be obtained, each addressed to an agent of the banker in the foreign town at which the customer will be probably, for the time being, staying. Suppose the customer intends proceeding from London to Rouen, Paris, Zurich, Strasburg, Brussels, and thence home, and desires to obtain J920 at each place. He will approach his banker on the subject, and in return for a payment of £100 and a small charge, the banker will hand him five circular notes, each of which, probably written in French, will be addressed to an agent of the banker in one of the above towns, and will direct the agent to pay to the customer the sum of twenty pounds, free of any charge, against the customer's signature to a seven days' draft upon the banker, a form of which will appear on the back of the note. The banker will also hand the customer a general letter of indication

which will contain an example of the customer's signature.

Thus furnished, the customer may proceed on his travels, but should be careful to keep separate the circular notes and the letter of indication, so that a theft of one may not include a theft of the other, and a consequent facility for forgery by the thief. Ilotelkeepers and others will, as a rule, readily accept a circular note; but when not so negotiated, the customer should present his circular notes to the appropriate agents and at the same time produce the letter of indication. The agent, after seeing the signature made in his presence and in accordance with the example in the letter of indication, will pay the money; he will probably try to make a charge, but the payee should object to that. Any circular notes not required, and cashed, should be handed back to the issuing banker, who will refund the money. See LETTERS OF CREDIT.