Year: 1877

From the Philadelphia Ledger.


1t is the belief of many observant philosophic
persons who are well ON their way through life
that if people generally knew more they would be-
have better, though few if any of them believe that
knowledge and morality are synonymous terms.
Acting on this conviction the following "Hints to
those who keep Bank Accounts" have been sug-
gested by gentleman we'll qualified by general
intelligence and long practical experience to ad-
wise the young and untaught of the several mat
ters whereof he writes. We give the seventeen
'Hints" in the order furnished, and recommend
our readers to post it up in some conspicuous po-
sition in the counting house other place of bus
iness, or on the inside back of the day-book or
ledger, where it may be in constant view of all,
from the apprentice boy to the chief of the house.


HINTS TO THOSE WHO KEEP BANK ACCOUNTS.


/. If you wish to open an account with bank,
provide yourself with proper introduction. Well
managed banks do not open accounts with strang-
ers.


2. Do not draw check unless you have the
money in bank or in your possession to deposit
Don't test the courage or generosity of your bank
by presenting, or allowing to be presented, your
check for a larger sum than your balance.


8. Do not drasv n check and send it to person
out of the city, expecting to make it good before
it can possibly get back. Sometimes telegraphic
advice is asked about such checks.


4. Do not exchange checks with anybody. This
is soon discovered by your bank; it does your
friend no good and discredits you.


5. Do not give your check to friend with the
condition that he is not to use it until a certain
time. He is sure to betray you, for obvious rea-
sons. Do not take an out-of-tOwn check from a
neighbor; pass it through your bank without
charge and give him your check for it. You are
sure to get caught


6. Do not give'your check to a stranger. This
is an open door for fraud, and if your bank loses
through you it will not feel kindly to you.


Z. When you send your checks out of the city
to pay bills write the name and residence of your
payee, thus-Pay to John Smith & Co., Of Boston.
This will put your bank on its guard, if presented
at the counter.


s. Don't commit the folly of supposing that be-
cause you trust the bank with your money the
bank ought to trust you by paying your over
drafts.


9. Don't suppose you can behave badly in one
there is a Clearing House.


10. Don't quarrel with your bank. If you are
not treated well go somewhere else but don't go
and leave your discount line unprotected. Don't
think it unreasonable if your bank declines to dis
count an accommodation note Have O clear def
of bank, it is note for which value has pass
ed from the endorscr to the drawer.


IL. If you want an accommodation note dis
counted tell your bank frankly that it is not, in
their definition, business note. If you take
note from debtor with an agreement, verbal or
written, that it is to be renewed in whole or in
part and if you get that note discounted, and then
ask to have new one discounted to take up the
old one, tell your bank all about it.


II. Don't commit the folly of saying that you
will guarantee the payment of a note which you
have already endorsed.


13. Give your bank credit for being intelligent
generally and understanding its own business par
ticularly. 1t is much better informed, probably,
than you suppose.


IA. Don't try to convince your bank that the
paper or security which has already been declined
is better than the bank supposes. This is only
chaf


Is. Don't quarrel with teller because he does
not pay you in money exactly as you wish. AS a
rule, he does the best he can.


16. In all your intercourse with bank officers
treat them with the same courtesy and candor that
you would expect and desire if the situations
reversed.


II. Don't send ignorant and stupid messengers
to bank to transact your business.