As a first step we give an example of what is occurring daily in hundreds of cases.
Miss Jane Smith is a lady who has been brought up without the slightest instruction in business matters, indeed has rather plumed her- self on the idea of being quite above such things. Suddenly she finds herself dependent upon others for guidance and advice. She would like to act for herself if she only knew how to do so safely, being of a somewhat suspicious temperament and mistrustful of advice from friends or acquaint- ances. Even the highly respectable lawyer, who has handed her a packet of documents and £500 in cash (a legacy from her uncle), with much sage counsel, she is not quite sure about, for she has imbibed the idea from her youth that lawyers are not always to be trusted.
The packet of documents in the tin box as they came to her is set aside in a safe place for the moment, but the bank-notes and gold are a matter of serious concern to her. She fears to carry them about her person lest she should lose them, or be robbed, and feels sure that if kept in the house they will attract any burglars that may be in the neighbourhood.
The best thing Miss Smith can do is to go to one of the neighbouring banks of repute - say the Blankshire Bank - and ask them to help her out of the difficulty.
She has an interview with the Manager or Cashier, tells her story, and is advised to leave the money at the bank and have an account opened in her name. This course she consents to adopt, and hands over the £500, requesting some acknowledgment that she has done so, in common terms, "something to show for it."
Many banks provide and require their cus- tomers to use "paying-in slips," that is, printed forms specifying the payments made to the bank under the head of cheques, notes, gold, and silver. A form is handed in with each payment, and the initials of the cashier placed against the amount noted on the counterfoil, which is re- tained by the customer.
In addition to this Miss Smith will be pre- sented with what is called a pass-book - a book passing between the bank and herself, now become a customer - in which she will find it stated in the briefest business manner, that the Blankshire Bank is Dr. (debtor) to, or owes, Miss Jane Smith £500. She will be told that portions of this money may be drawn out from time to time as she may need it, but this can only be done by cheques, or forms of request to the bank to pay out the amount desired.* These forms, provided by the bank, are printed, blank spaces being left to be filled up in writing, and they are made up in books of various sizes, each form bearing a penny stamp. The customer pays for the book according to the number of stamps it contains, but no more. Miss Smith buys a cheque-book, and, opening it, finds the following form in print:-
(* The practice with some people of writing cheques on plain paper is discountenanced by bankers, and is to be condemned.)
————————————————————————————- | No. 10901. | No. 10901. __________ 189 | | | | | _________189 | To the Blankshire Banking Company, | | | Blanktown. | | | | | _____________ | Pay to ____________________ or bearer | | | | | | the sum of __________________________ | | | | | £____________ | £___________ ______________ | | | | ————————————————————————————-
She then recollects that she has no money to go on with, and asks to have £10 of the £500 she has left in the bank. The cashier offers to fill up the blank spaces in her first cheque, making corresponding entries in the counterfoil, and having done so asks her to sign it at the foot.