The independent press. (Abbeville C.H., S.C.) 1853-1860, 1859-01-28
Kiting, or Raising tho Wind.


tract from Mr.. Gibbons book on Banks
and Banking, which has just been published
1t reads rs follows:
gain ready to resume his correspondence,
II n,an enters the bank with y hurried step,
and Taufcstly in violent passion:
Mr. Cashier, what kind of trllcrs do
you keep in your bank =
We mean that they shall hr g-nil ,mr,
SIR Mr. kigh, finds it very difficult to ceI
'r"l himself. lie thruSts his bank book lc
fore the Cashier, and points with trembling
hand TO IN entry which shows that he had
that morning made il deposit OF fifteen hut
drcd dollars.
DO you seq that, sir2'
The Cashier sees it.
well Sir-your teller has refused to pay
my check for that amount. no, withsanlnw /
the money is to my credit. He has sent it |
back to another bank; and my name is dis
hon"r.l. sir! Isn't this - pretty tale, that
mans credit is to bc ruined 10y Il mi>era
bic teller who doesn't know his duty.
. think he knows his duty. Mr., Knight.
You have probably made II mistake your
self
| The cool manner Of the cashier does moi
so",hc his excited customer. He denies, an
Griiy. that he has made any mistake, and
attracts the notice of all the clerks bv the
| violence of his language and his defiant air
rs the two pass to the desk Of the book keel
or. to examine his account, The ledger
shows that his balance was less than tifiv
dollars on the day before, when he drew hi,
check for fifteen hundred, and it is app
I tl,,th Ia. hal .1t 81,
much money one day, in advanrc of his de-
post. The process is well known To bank
officers and clerks. un,ler the name of ki
ting 1t Is often rcsortcd to rs Il last ex-
r"'lient TO raise funds, 10y parties who know
better. Tw" parties, who keep accounts in
different banks, may change cheeks, and
each deposit that of the other if their ..er!i-
: -" i no, required; and then each may
draw out the MONEY
Mr. kight may have supposed that his
deposit of the following morning would he
Il" to pay his check; but the Cashier
hS to him that lhe exchange for the
"g House is made up and despatched
"''orr ten o'clock, So that funds coming IN
alter that hour ARE not necessarily avai!abl,.
until the next day. lie NIGH, even 20 8 .
tar As to show him the very bills that he I,m.
d"poSi'ed st'll unused, in The drawer of tin.
reccvi"g teller; bu, Mr.. hight understands
1t. lie now expresses his opinion ,ha.
1T is rather small business for "a bank. with
three millions of capital, to return !, dealers
check for fifteen hundred dolla,s, when the
money is actually i'll the bank, even if it
cant be used Tor single day.
There Is tnt one way for us To tran<a,.,
bu"ine>s, Mr. kight, and that Is, To .p,v
checks when wc have the deposit to pay
with, aud To refuse them when we have n,,i
lie adds: 1t is true, sir; that your check
for fifteen hundred dollars would mak,: H.,
sensible difference in onr general hal:rrr,
hn every "vrrlrafL goes in the CL;rnr
House cx'thhn-r, and the a".,r.a,e ii over.
drafts III This way has sometime, reached
toty "r'fifty ll,nnSa,nl dollars
Mr. Rights drpsit is now available to
linn. since the teller has rerievr.l pav,nrnt
for the di>honor,d rh-.k. from the Bank ,n
which he returned it. lie Requests that il
may he certified, with the intent to re- de-
r''sit il in The same chann, as before, and
5" rub ont Ihe"iliScre'iit which his rnmi
name has suffered in that quarter.
But nl this moment Il messenger from
an"h"r Bnnk prr-enI> another che, k drawn
hy Mr.. Wing, which Mr.. klyht had dr,o-
lle'! the day before 1t is rcrurnrl 10;
good. and Mr.. Kigh, must pay it. This
abs"rhs his deposil, and leaves him with
his own dislonorcd check in hand. The.
whole transaction is now fully expusc.l.
Mr.. kight and Mr.. Wing had exchanged
checks. each trusting to make his account
good by an early deposit on the following
morning: but their plan was thwar'e.l III
both Banks by the vigilance Of the Paying
Teller.
If the teller, instead of returning NJ.
Kigl is check, had charged it against the
dep" which he made III the morning. he
would now have Mr.. Wings dishonored
cheek OIL his hands, without any means Of
s'curingit payment; and it might be TO
tai loss TO tie Bank.
The quarter Of an hour given to this ted
ous explain alton is not entirely ,hown away,
since it affords the Cashier a reason for
closing Mr.. Rights account, and thus pct.
ling rid Of a dangerous customer,