The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1883-05-10
DRAFTS ON IRELAND.

payaDlo C0fOug0Ou6 COo OlQ country
without discount" This advertisement
is no doubt familiar to
the readers of the Herald who,
see 1t from time to time, and no doubt
often wonder just what il back of it.
what it fully means, in fact; for few
think that the Maverick National bank
of Boston would continue IN ADVERTISE
ment of the kind in large type ct quite
considerable daily expense unless there
was some profit in it-unless it was to
catch portion of what may be large
business, in the way of exchange. To
learn some facts regarding this business,
President Potter was waited upon on
Friday last. u-.
81 wish to inquire, Mr.. Potter, in re-
gard to the business of sending drafts to
Ireland. 1s it much of a busiDess?"
Eyes, It has been made by us snug
little item of addition to our ordinary
regular business, though may say that
now it has become q part of our regular
business"
"When did you etart the business?"
"About two and half years ago. You
remember when Mr.. Parnell was heref
Well, that was the time. Considerable
subscriptions had been raised in this
city and vicinity to aid the cause of Irish
independence as advocated by MI. Par
nell, and our bank was chosen by the
committee having the funds in charge az
depository of that money. This led to
the business Of transmitting money for
individuals to the old country, and this
has grown to be quite q considerable
n~1 o. %hnvo hnS~nv 40.
sons when it assumes larger proportions
than Others"
How do you send the money intrus-
ted you to Ireland?"
NV Q have arrangements with two of
the leading banking concerns in the
Countrywide Belfast banking company
of Belfast and the Munster bank of Dub
lin. These banks. have numerous branch
es throughout Ireland, the Belfast
having twenty-five, and the Munster
abont fifty. These branches are not
mere agencies. but actual branches
owned by the principals. We do not
have this system in the United States.
but they have it in Canada in the bank
of British North America, which, by the
way, has branches in New York and
Chicago. Well, these banks and their
branches, by an understanding between
US, cash our checks in any part of Ire
land where they are located, and we
keep renting to them constantly to
meet these checks; the tide being all
checks being 80 readily convertible into
have become so we'll known throughout
the country that any tradesman will gen.
orally readily receive them, and many
of them being in lie and 81 denomina-
tons, they are frequently used as kind
of auxiliary currency by tradesmen."
"What is the volume of this business?'
ut varies from time to time, as told
you. About the middle of November,
what you might call rush commences.
People are then sending money very
generally to their friends in Ireland for
Christmas presents. After this rush the
business of renting goes ON evenly un-
til just before St. Patrick's day, when
there is another rush to send money to
the old country. During these times the
remittance through our bank will aver
age from ESQ to e200 q day. Outside
those seasons the average may be said to
fore yesterday we drew ninety-four bills
on Ireland, aggregating 4244, and the day
previous lightweight bills, aggregatinR
G186. That is about how they run,
though sometimes. even at this season,
there it a falling of, for one, or, perhaps
two days in week. During the Last two
We have drawn bills for FL ,800."
what class Of E., people are the most
about seven.eights are female
working women mostly-do.nes etc."
"What is the average amount Of the
drafts sent?"
"Wel, I should say that they would
average about e. los; but three-fourths
of the small exchange is for sums under
e.. Two pounds, however, is the
amount those people like to send. They
are a generous hearted people, and their
love for home and kindred must be
strong when, earning the small wages
many of them do, they will yet save
%oiety t%s send md k hS%e to Tighten tho bur-
sWhat do you charge for sending
| drafts?"
"Our charges are moderate. We issue
q FL craft for cents, As to the profits
| of the business, that is thing do not
care to talk about-is is thing, of course
which does not interest the public that
can see. The business satisfies u.s."
The writer had an opportunity on
various occasions of seeing those who
sent money to Ireland through the Ma
verick bank. All of these people-they
were mostly females seemed to be
workers., and had careful,
thrifty thoughtful air abou!
them. Some were well
dressed, and all decently clad. Some
were mothers and brought their babies
along with them, and three youngs tern
unmindful of fhe solemn dignity Of
bank officers and men with cash depos.
its, often made the air vocal with their
lusty cries-the mothers being unusally
clustered" at the exhibition Of their off:
springs without the power Of stopping
it. It was refreshing sight, however,
to see people with hearts in them, who
remembered those *ho had given them
being, and would spare something from
their own small earnings to make life
more comfortable at the time comfort il
most needed-the Decline. Tho graft
tude of children must be pleasing thing
to parents, as ingratitude must be the
| rovoroo Wall r. in a atPanoo world