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The Use of Credit Instruments in Payments in the United States; Report

The Use of Credit Instruments in Payments in the United States; Report


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 Excerpt: ...of agricultural States we find the same thing true. The following table shows the retail deposits in five States, less the deposits in cities of more than 25,000 in 1902-3, according to Census Bulletin No. 20. The percentage runs from 68.5 in Texas to 78.5 in Nebraska and the average for retail deposits is 72.8. Other States, like North Dakota and South Dakota, in which there are no cities of this size, show a similar state of affairs. This goes to show what bankers in agricultural districts say--that the farmers are using checks very largely. Indeed, there is a great change in this respect since the hard times of 1890-1896. Farmers who then had no surplus now have bank accounts, and there has been a notable increase in deposit banking and therefore in payments by means of checks. A striking illustration of the large use of checks in an agricultural community was found by the writer in the summer on the Green Bay peninsula in Wisconsin. In reply to questions about the methods of doing business, he was shown some checks of local creameries and was told that of payments aggregating about $65,000, for milk and cream, by one of these in two years, only 2 or 3 per cent was in money and that the receipts showed about the same proportion. The business of the other two creameries was done in the same way. The postmaster, from whom the information was obtained, added that money was so scarce that he was in the habit of "cashing" the warrants of rural carriers with local checks to use the warrants for remittance to the moneyorder department of the post-office instead of money. The returns of retail deposits of the banks at Sturgeon Bay, the banking center, appear to validate this information. They show 95.9 per cent of checks. RETURNS FROM INDUSTRIAL CENTER...


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Product Details
  • ISBN-13: 9781236058959
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 42
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 123605895X
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 95 gr


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