them for restitution, and the bank was
obliged to sustain the loss. It was dis-
covered afterward that an architect,
having purchased the banker's house,
had it taken down, in order to build
another upon the same spot, and found
the note in a crevice of the chimney !
Merchants' Notes as Currency.
THE peculiarities of carrying on busi-
ness in the United States and England
respectively, are illustrated by the dif-
ference in passing good mercantile
notes as a circulating medium. In
England, a note of hand, when given
for any business purpose, is not taken
to some convenient banker's, to be dis-
counted or sold, but is treated with
that deference that is given to other
kinds of notes signed by certain of-
ficials known as the president and
cashier of a bank, for the simple reason
that, if made by an honest, responsible
man, it is worth just as much. The
holder can, any day, in the neighbor-
hood where its character may be
known, without any previous negotia-
tion, buy anything he pleases, and pay
for it with this paper by simply in-
dorsing it because the second holder
knows he can in turn do the same;
and so it goes, getting farther and far-
ther from home, until having passed
through the hands of perhaps more
than twenty different persons, and
being literally covered with indorse-
ments, it is finally lodged in the bank
for collection. Such a note, of one
thousand pounds, is frequently made
104
COMMERCIAL AND BUSINESS ANECDOTES.
to pay the indebtedness of twenty dif-
ferent men, not one of whom needs to
know whether the bank is calling in or
letting out its best money, or to care
whether his banker is easy or " tight "
in his financial condition.
Scenes after Discount Day.
DISCOUNT customers at New York
banks are, in a good majority of cases,
an eager set. The first crowd at the
bank the morning after the board has
sat, is composed of the most anxious
dealers. It is important for them to
know early, whether they must seek
elsewhere the bread of commercial life
for the day. They are followed by the
less needy the more deliberate, who
know the value of " deportment " in a
tight market. Here are some samples
which will keep fresh for a long time :
" Notes done, sir ? " is asked by the
applicant, either verbally, or in panto-
mime. The affirmative causes a bright
gleam of sunshine in the face of the
questioner. But a negative to the next
comer substitutes a scowl of disappoint-
ment : " What is the reason of that, sir ?
Has the bank stopped discounting ? "
"Market tightened up, sir. Deposits
down. Offerings very heavy."
The customer departs with an audi-
ble growl of indignation at what he
conceives to be " a denial of rights."
Another : " Good morning, Mr. Smith ;
what have you to say to me ? " " Noth-
ing very encouraging, sir. The bank
discounted one of your notes." " What
only one out of ten ? " " That's all.
Very good proportion, I do assure you."
" A single thousand ! And I want five
to-day! Where's the president ?" "In
his room, sir. But I don't believe you'll
gain anything by talking to him. Our
receipts are very small just now, and
the porter brings bad news from the
clearing-house."
A third fills the little gate in the rail-
ing with a grim and threatening visage,
but does not speak. The clerk knows
him as a frequent applicant, and seldom
a fortunate one ; the character of his ac-
count, as well as of his paper, being in-
ferior, and presenting no claims worthy
of consideration by the directors. He
receives back his offering without re-
mark, and departs in sullen silence.
Customer four : " Well, Smith, don't
tell me my notes ain't done ! "
"Wouldn't if I could help it, sir.
Board did mighty little." "Hang
the board ! Isn't there any explana-
tion? Don't they know the paper?
Is it too long?" "No explanation
given to me. Bank's short. Can't
help it. Majority in the same boat."
Customer leaves an oath behind him.
Neapolitan Cambiamoneta, or Money
Changer.
ALONG the crowded streets of Naples
the passer-by will occasionally see a
great red umbrella mounted on a tall
pole, and under which a very snug little
business is carried on. A smart, respect-
able, middle-aged lady sits in state be-
neath this circumscribed, but brilliant,
little awning, which lends a decidedly
roseate hue, not only to herself but to
her calling. The table at which she
sits is, in fact, a " strong box " on
wheels, and she herself is a banker in
a small w r ay a street money-changer.
On her little counter are disposed vari-
ous money bags, with open mouths a
small one of gold, a larger one of silver,
and a still larger of copper coins. Her
transactions are as safe as they are sim-
ple. She does not lend out her money
on usury ; she does not gamble on the
stock-exchange, or make "time bar-
gains," or demand a high rate of in-
terest for " accommodation," while she
gives a low rate of interest on " depos-
its." She merely lays herself out to
change one set of coins into their equiv-
alents; for this she receives a small
banker's commission, and on this small
commission she lives and thrives.
It is surprising how often her inter-
vention is required in the daily busi-
BUSINESS PURSUITS IN THEIR MONEY RELATIONS.
105
ness of life. Here is a laughing, rol-
licking, black-eyed servant girl come
out, with a basket on her arm, to make
her purchases in the market of Santa
Lucia. Her money does not happen to
be in an available shape, and the fish-
monger cannot give change. But
" Ah ! most fortunate ! See, the Sig-
nora Marcljetti ! Ah, 'cellcnza, without
your help I am lost. Oblige me, this
holy morning, with some of your dear
carlini. My padrone (master) is so im-
patient. Ah, kellenza, how eagerly he
craves his dinner." And so her " Ex-
cellency" is only too happy to oblige
her friend, the brisk and vivacious little
cook, while with the blandest of smiles
she deducts from the change her own
pretty little percentage.
Again, there is a tall, dark, suspi-
cious-looking man, who finds that his
long walk from Capua has made a hole
in his shoe. Near by, too, there is a
poor street cobbler, who is seated on
his own tool-basket, with his little
hammer, and his twine and wax dis-
posed around him on the pavement.
The dark Capuan kicks off his ailing
shoe, plants his unshod foot on the
ground by the shod one, and, in spite
of the police, hums a proscribed ode to
Masaniello, until the poor cobbler sets
him comfortably on his feet again.
Once more, the Signora Marchetti must
be referred to, for the cobbler's pocket
is as empty as himself, and not a " gra-
na " lurks there to supply his employer
with the requisite change, and to sup-
ply himself with the yet more requisite
dinner of chestnuts ; and thus, for an
additional exchange of equivalents, the
banker's commission glides into the Sig-
nora's waiting purse.
Largest Check ever Drawn.
IN the negotiations made a few years
since by the English government for a
loan of eighty million dollars, the suc-
cessful contractors were the Messrs.
Rothschild; and, having been sup-
ported by the subscriptions of Mends,
they were of course recognized as the
acting firm in that important transac-
tion. In paying the first deposit to-
ward this amount to the government,
the check they drew was for the sum
of six million dollars. This bank check
was probably the largest ever drawn at
once by one private banking-house or,
if not, it was certainly for a very " con-
siderable sum."
Lorillard Paying: a Bequest in Bank
Stock.
ON a certain occasion, Jacob Loril-
lard was appointed executor to an es-
tate in which the widow had a life-
interest, but where each of the children
was to receive a thousand dollars on
coming to age. When, in the first
case, this period had arrived, one of
the sons called on him for the amount
of this bequest. " And what," he said,
" do you wish to do with it ? " " To
purchase stock with it in a particular
bank." " At what is it now selling ? "
" A hundred and ten." " Have you
any objections to leave the money with
me on interest till the 1st of May, and
then I will let you have the stock at
the same rate ? " In the mean time it
fell, as he anticipated, to eighty-four.
When this change took place, the
young man was greatly depressed. He
called at the time appointed, to fulfil
the engagement. " The stock is ready
for you," Mr. Lorillard playfully re-
marked ; " however, if you prefer it, I
will release you from the contract, and
the money may remain where it is." It
may easily be conceived that the young
man left him grateful and rejoicing.
Greatest Lending- House in Europe.
THE great money-lending house at
Naples was first established in 1539 or
1540. Two rich citizens, Aurelio Papa-
ro and Leonardo or Nardo di Palma,
redeemed all the pledges which were at
that time in the hands of the Jews, and
106
COMMERCIAL AND BUSINESS ANECDOTES.
offered to deliver them to the owners
without interest, provided they would
return the money which had been ad-
vanced on them. More of the opulent
citizens soon followed their examples ;
many bequeathed large sums for this
particular purpose; and Toledo, the
viceroy, who drove the Jews from the
kingdom, supported it by every method
possible. This lending house, which
has undergone so many variations, is
the largest in Europe ; and it contains
such an immense amount and number
of different articles, many of them ex-
ceedingly valuable, that it may be con-
sidered as a repository of the most im-
portant part of the movables of the
whole nation.
Oldest Bill of Exchange in the World,
1325.
THE oldest copy of a formal bill of
exchange known to be in existence, at
present, is one dated at Milan, on the
9th of March, 1325, and runs in the
original as follows :
" Pagate per questa prima litera [let-
tera] a di IX. Ottobre a Luca de Goro
Lib. XLV. Sono per la valuta qui da
Marco Reno, al tempo il pagate e po-
nete a mio conto e R. che Christo vi
guarde Bonromeo de Bonromei de Mila-
no IX. de' Marzo, 1325." Or, in Eng-
lish
" Pay for this first bill of exchange,
on the 9th of October, to Luca Goro 45
livres ; they are for value received here
from Marco Reno ; at the time of ma-
turity pay the same to my account,
thanking you, may Christ protect you,
Bonromeo de Bonromei of Milan, the
9th of March, 1325."
Unexpected Balance at Coutts's Bank.
LORD A. FITZCLARENCE happened to
dr.op into Coutts's bank with his friend
Mr. W., who wanted to draw some
money, for which purpose he got a
check from the cashier, and filled it
up for two hundred pounds ; on re-
ceiving which, he observed that he
had something to say to one of the
partners, and excused himself for step-
ping into an inner room a few minutes
for the purpose. Lord A., left standing
by the counter, remarked, laughingly :
" Well, it is a very pleasant thing to
walk in and get helped to two hundred
pounds in that way."
" If your lordship wishes to draw,"
replied the cashier, " I will hand you a
check."
" Oh, yes ! but as I do not keep an
account here, that would be of very lit-
tle use," said the lord ; and the conver-
sation went on, as his lordship thought,
jocularly.
" I beg your lordship's pardon ; but
I should be very happy to cash it."
" But I tell you I have no money in
the bank, and never had any at Messrs.
Coutts's."
" Your lordship is mistaken ; there
is a larger sum than that standing on
our books in your name;" and, con-
sulting a large ledger, he pointed out
the entry.
It turned out that Lord A.'s royal
father had vested certain amounts for
the younger branches of his family, and
had somehow forgotten to mention the
circumstance ; and so it might have
lain for a very long time, as it is a rule
of the house never to announce moneys
paid in.
Colloquies inside the Bank.
IN his various walks and contacts,
the porter of a bank gains much knowl-
edge of men and things, which, discre-
tionally, or in answer to questions, he
communicates to the bank officials, be-
tween whom and himself there is free
and often confidential intercourse.
Here is an amusing illustration, from
no other pen than Gibbons's :
"What news at the clearing-house
to-day, Mr. Donaldson ? " asks the pres-
ident. " I didn't hear anything par-
ticular, sir. It looks as if things might
BUSINESS PURSUITS IN THEIR MONEY RELATIONS.
107
be a little excited and uncomfortable,
that's all." " Ah ! Well, that's a good
deal. What makes you think so ? "
"A little sort of map, sir. Some of
the porters came in late, as though
they'd been holding back for morning
checks." "Did you hear anything in
the street?" "I heard some talk
about a failure among the brokers, but
no name." " No steamer in ? " " Well,
yes, sir ; but the boys ain't crying an
extra yet. They've got a notice on the
bulletins Delhi not taken ! ' "
The president catches a valuable hint
from many a conversation, of which this
is an example.
" Delhi not taken ! Then, Mr. Cash-
ier, I think you may answer Mr. Bor-
row, that we can't give him any priv-
ilege of over-draft, nor re-discount his
paper. These country banks must learn
to take care of themselves." An appli-
cation for a credit of fifty thousand dol-
lars, which had been lying in suspense,
is thus decided by the state of things in
India.
It is not unlikely that the porter will
carry notices to parties within the next
half hour, calling in one or two hun-
dred thousand dollars of demand loans,
so sensitive are bank officers to imag-
inary effects that may follow an an-
nouncement that some "Delhi" or
other is " not yet taken."
Disadvantage of being- a Bank
Director.
THE Senate of the State once elected
Mr. Matthew Carey, the eminent book
publisher, a director of the Bank of
Pennsylvania. He mentions, as a dis-
advantage to him from the position,
the lenity shown by the other directors,
whereby his debts rose extravagantly
high. This evil he urges with great
warmth and zeal, as the one which sev-
eral times in his business life came near
bringing him to bankruptcy. " I print-
ed and published," he declares, " above
twice as many books as were necessary
for the extent of my business ; and, in
consequence, incurred oppressive debts
to banks was laid under contribution
for interest to them and to usurers,
which not only swallowed up my profits,
but kept me in a constant state of pen-
ury. I was in many cases shaved so
close by the latter class, that they al-
most skinned me alive. To this cause
my difficulties were nearly altogether
owing, for I did a large and profitable
business almost from the time I opened
a bookstore."
He sets down another evil practice
of his business career, which he cau-
tions young traders to shun, as they
would "temporal perdition." It is
that of endorsation. " In this way, in
fourteen years," he writes, " I lost be-
tween thirty and forty thousand dol-
lars ; and but for this I might have
retired from business ten years earlier
than I did ; besides, in one of the cases
of failure, I was brought to the verge
of stoppage."
Royal Pawners and Brokers.
THE infection of gambling, in the
different varieties of that practice, is so
strong that Pope, who knew his coun-
trymen well, declared that :
"Statesman and patriot ply alike the stocks;
Peeress and butler share alike the box ;
An&judges job, and bishops bite the town,
And mighty dukes pack cards for half a
crown."
In the twelfth century Eichard I.
pawned the revenues of the crown for
the payment of moneys- borrowed to
defray the expenses of the fanatical
conquest of the Holy Land. Henry III.
pawned the crown jewels and regal
ornaments and robes of state. Ed-
ward I. borrowed money to pay the
debts of his father, in order to get his
soul " out of purgatory," as the record
states. Richard II. was deposed for
extorting one million one hundred
thousand pounds sterling, under pre-
text of borrowing, which was never
repaid. This was one of the chief
108
COMMERCIAL AND BUSINESS ANECDOTES.
causes of the York and Lancaster wars.
In 1346 Edward III. ordered a sum of
money to be lent to him. Henry IV.
obliged the rich men of the kingdom to
lend him money on the growing taxes.
Henry VIII. escaped the punishment he
so justly merited for defrauding his
creditors ; he compelled Parliament to
pass two acts, offering him " all the
money he had received in loans," thus
discharging him of all obligations he
had come under, and all suits that
might arise thereupon. In money
matters in Elizabeth's time, the people
insisted upon the payment of the sums
advanced to her predecessors, a demand
she was wise enough to comply with.
Irishman at the Bank.
THE city banks have all kinds of cus-
tomers. For instance, one in the shape
of an Irish pig-jobber, a stranger, intro-
duces himself, or rather his business, by
laying his great whip on the counter,
taking off an apology of a hat so far
as any known styles stand related to
it, and then, fumbling in the caver-
nous recesses of his dirty garments,
lugs out a crumpled bundle of very
nasty-looking notes.
" Could ye give me your bank notes
for these, sur ? " he asks, in his most in-
sinuating manner.
" We never change notes to stran-
gers."
" Why, they're good, ain't they ? "
" Yes, doubtless ; but we don't change
notes of another bank."
"Well, sur, supposing I'd be after
paying ye a little charges now, would
ye do it for me ? "
" Do you know any one in the town ?
If you can find any one known to us,
who will write his name on the back
of them, we might do it, perhaps."
" Yes, sure, sur, there's Mr. Murphy
the pork butcher, sur."
" Well, he will do."
In due time he re-appears, with his
friend Murphy, and with much satisfac-
tion pockets the new and clean notes.
After paying his " charges," as he calls
them, the warm heart of a son of Erin
exhibits itself:
" Thank ye, sur ; and, by jabbers, if
ye'll come out wid me. I'll stand trate
for brandy."
Juvenile Contempt of the Bank.
A SHOP boy, having a very rustic ap-
pearance in dress and manners, entered
one of the banks in Dundee, Scotland,
and, throwing a sixpence to the teller,
asked, " A saxpence worth o' fardins."
The teller very politely replied, " I
can't do it. I have not so many."
Shop boy, " Gie's back my saxpence,
then." The boy, on opening the door
to leave, looked over his shoulder, and
staring at the teller, exclaimed, " Sic a
bank ! " Next day he had occasion to
visit the same bank, and on being asked
amid the laughter of the clerks " If he
got his saxpence worth o' fardins ? " re-
plied contemptuously, "Ay did I. I
got them in a little pie-shop."
Banks of Ease.
MANY years ago the first settlers in
Western New York were obliged to
take their grain a great distance in
wagons to Albany, to find a market.
The roads were bad, and the travelling
dangerous. Three farmers of this re-
gion found a purchaser for their loads
of wheat at Amsterdam, a village some
twenty-five miles west of Albany, and
were glad thus to dispose of it, and
save themselves the trouble and travel.
They took an order on the bank of
Amsterdam for their pay, which was
offered them in specie silver ; but they
objected to taking it, as it was too hea-
vy to carry, and they preferred the notes
of the bank. And here the laugh comes
in. The officers of the bank refused to
give them the bills, because the farmers
were going so far out into the wilder-
ness, the bills would never come back
BUSINESS PURSUITS IN THEIR MONEY RELATIONS.
109
to the bank again ! The matter was
finally compromised by the bank's pay-
ing each of them one dollar extra, on
their consenting to receive silver in-
stead of paper money. Surely, this
bank might well be termed a Bank of
Ease !
Russian Money Brokers.
THOUGH the ring upon one's finger is
said to be unsafe in the Russian money-
marts, it is clear that the silver rubles
and ducats on the tables of the money-
brokers are perfectly secure ; for tables
of this kind stand at the corners of all
the streets, amidst the thickest of the
throng, upon which columns and heaps
of the different sorts of coin are invit-
ingly exposed to the public gaze a
phenomenon that perhaps could not
take place in any other great and
crowded city. It would be easy for
any one intent on plunder to upset the
table, and tumble its valuable freight
promiscuously into the mud ; and no
one, amidst the general confusion, could
be expected to point out the rogue that
was enriching himself with the scatter-
ed spoil.
And yet it is a fact, that though
thousands of rubles are often placed
under the care of lads only twelve years
of age, not a broker would risk a farth-
ing, if he did not think himself per-
fectly safe with his money amidst all
these people and the attendant commo-
tion. But the Russian rogue is a
strangely discriminating fellow, who
has not the least scruple to commit
some actions that are palpably dis-
honest for instance, to charge a buyer
six times as much for a thing as it is
worth, or to pick one's pocket of watch
or purse, while he thinks others most
disgraceful, and is therefore, in certain
points, as honorable and trustworthy as
the most conscientious man that can be
found. These money-brokers are under
the protection of the public and of the
thieves themselves. No doubt it has
often happened that such money-tables
have been overthrown, and not a single
copeck, much less a ducat, has been
lost, because all the by-standers, in their
sheep-skin dresses, assisted with the
most courteous officiousness to pick up
all the pieces of gold and silver out of
the dirt.
Note Buyers.
THERE are men who spend their
whole lives in Wall street, and who do
nothing else but buy notes. They come
in early and go out late. Their time is
occupied in making fresh inquiries, and
in haggling about the rate per cent.
You can to-day see these persons, if
you will take the trouble to station
yourself on the spot, and I predict you
will behold what will deeply interest
you. Wait a few moments near this
corner, and you will not be disappoint-
ed. There he comes, passing thought-
fully along the street. He has the ap-
pearance of a man laden with many
cares. Look at him ! He is respecta-
bly encased in a moderately warm suit
of black. His head inclines forward;
his eye has become stony; his nose
pointed ; his chin angular ; his cheeks
rigid ; his lips wooden ; his mind
alas ! he has no longer any mind ; but
in place of mind he possesses an instinct
so subtle and acute that it will detect
a piece of " made " paper in the very
curl of the signature. If you wish to
see more of this sort, go and take a
seat for an hour or two in one of the
many small note-brokers' offices, which
abound, and watch the arrival of others
of these paper sharks. They come in
hungry, eager, sharp, to hear and see
what new offers. They have a large
capital, perhaps hundreds of thousands
of dollars, invested in notes, or repre-
sented by securities, which can be con-
verted into cash in twenty-four hours,
should it be required to buy more pa-
per with. They are always moving
about to pick up the note of some good
110
COMMERCIAL AND BUSINESS ANECDOTES.
mechanic, who they know for certain
reasons is hard-up, and who is willing
to bleed freely rather than to fail in a
contract.
It is hardly necessary to say that, for
the delineation of the above character,
the credit belongs to Kiniball's facile
pen.
Jacoto Lorillard's Note of Accommo-
dation.
THE benevolent feelings manifested
by Jacob Lorillard toward young begin-
ners in business, who were needy and
friendless, exhibit a very bright side to
human nature. When a director of that
institution, of which he was twice the
president, he would frequently take a
parcel of the small notes which were
offered for discount by poor mechanics,
who were obscure and unknown, and
which, therefore, for the most part,
would have been rejected, and make
diligent inquiry, in person, as to their
character and standing ; and if he found
that, with a proper regard to the inter-
ests of the bank, he could commend
them to favor and confidence, he felt
that he was abundantly rewarded for
all his pains.
On one occasion, a person whose note
had been refused where it was offered
for discount, and who, it appears, had
no peculiar claims on his kindness and
influence, though possessing his confi-
dence, called on him for the favor of a
line of recommendation, which would