Each cheque bears a penny impressed stamp, and a book of cheques is supplied at the price of the stamps—a book, say, of twenty-five costing two shillings and a penny.
Cheques may be in one or other of two forms. The first form is—
No. 478953. London............188...
The Cosmopolitan Bank,
14, Marketjew-street, E.C.
Pay..................or Bearer..................
£...............
The other form is precisely the same, except that instead of the word “Bearer” it has the word “Order.”
As an example of a cheque with the particulars filled in, take the following:—
No. 536212.
London, 19th November, 1886.
The Cosmopolitan Bank,
14, Marketjew-street, E.C.
Pay Miss Georgina Makepeace or Bearer Nine pounds Thirteen shillings and Four pence.
£9: 13: 4. Alice M. Littleproud.
The difference between cheques made out to “Bearer” and those made out to “Order” is this. Cheques payable to bearer can be cashed by anyone. Those payable to order, however, must be endorsed by the person in whose favour they are drawn before the money can be received. But what is to endorse a cheque? It is simply to write your name on the back of it.