Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-09-29

commercial house within reach OF the |
news Of 1t. Many states no longer al
low the three days grace which once
were necessities when means of travel
and communication were in more elem |
on a certain day means the paying of
the note on that day and no other, un-
less 1t shall be legal holiday.
Your signature to a negotiable note,
promising to pay a certain sum to the
bearer, without defalcation or dis
count" Is quite as serious In this way
as any funeral For the most part the
manner In which your signature came
to such a note "in the hands Of an In
nocent purchaser" cuts no figure In
court or financial circles. The whole
question Is whether the signature Is
yours or not: II 1t is. and IL the face
of the note has been secretly raised"
or the interest rate doubled, or any lit
tie things like that, the poor. innocent
purchaser Is not allowed to suffer be-
cause of 1t: it's your funeral.
Because Of this innocence Of the pur-
chaser of any note at any sort of dis
count, 1t is a bad thing for you to leave
your signature on a piece Of blank
paper with room enough above 1t for
some acquisitive genius to build a ne
gotiable note over It,
Adopt a Regular Signature.
Speaking of signatures, adopt a sig
nature which Is yours not only in style
of penmanship but in partition Of your
front name. Don't be ]. Wordsworth
Jones on one occasion, John w. Jones
on another, and ]. w. Jones at odd mo-
ments. The only excuse for variation
from ones usual signature Is when
some ore makes commercial paper pay
able to j. w. Jones when he has adopt
ed ]. Wordsworth as the style. But
where paper Is made payable to such
initials. 1t must be indorsed u. w."
with the u. Wordsworth" appearing
commercial form.
Anywhere in the United States the
best form Of remittances, perhaps. Is a
bank draft on New York. The bank
drawing the draft for you or the bank
on which II Is drawn, may fall before
the paper gets around for final redemp-
| lion. but the world may come to an end
also. There Is nothing sounder than a
United States postoffice money order,
but a lot Of red tape Is wound around
1t. and some places where you may
wish to send money have no paying
offices, It Is especially troublesome. as
the authorities allow only one indorse-
ment on the paper. Also. postoffice or
ders are not as cheap as are most oanR
drafts on New York. especially above
800.
Indorser May Have to Pay.
One thing needs to be borne In mind
in the handling of bank paper-the
great question asked on all sides Is,
l"How did you get it?" Further, What
sort of a fellow did you get 1t from?"
Is quite as jointed and insistent AL
ways the owner Of redeemable bank
paper must consider what will happen
IL at the last moment the bank upon
which the paper Is drawn refuses for
any reason to pay. II 1t does so that last
holder must 20 back upon John Smith
to make good, and John Smith must
have recourse to Wordsworth Jones,
and Jones In turn has to chase Indorser
Browne to earth. Anywhere along the
line that an indorser throws up his
hands and pleads inability to pay the
'rdcrser just below this mans name
Is TT"
Whether times be flush or tight has
a great influence upon the treatment
of money and its commercial equiva-
lert The first note of hard times
will destroy tens of thousands OF dol
lars Of paper currency In breath. and
the pinch Of the real thing destroys
millions In a night. Bank paper loses
nightly as a liquidator Of debts and
the gold basis philosophy Is magnified
beyond the old philosophy that such a
thing as medal of final redemption"
| Is impossible in fact. AS commercial
paper Is more closely regarded In hard
| times. so is the currency OF the coun-
| try In the hands Of the average per-
| son.
Hard Times Bring Out Savings.
| The cashier In an institution which
1eals with a wide constituency Of men
and women In all conditions Of life says
that In the press Of hard times at least
| three -fourths Of his women customers
go to their stockings or their bosoms
for their money which they are to pay
out: at the present time, for instance
not one woman In six secretes her
money in these ways. In hard times
the men dig deeper into their clothes
| for the cash also, the principle being
| that the harder a dollar Is to acquire
the more natural 1t Is for the holder OF
II to tuck 1t away where 1t promises to
be safest from loss-Chicago Tribune.