A Second Book in English for Foreigners (Paperback)

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: ...books. In the regular course of business the check which Smith issued and gave to Brown was presented to the First National Bank for payment. The cashier of the bank examined Smith's signature to see if it was "genuine"; that is, to see if Smith wrote it. He did this because every well conducted bank exercises great care when paying out money which belongs to its depositors. A check drawn by a depositor is his written order upon the bank to pay a stated sum of money to a stated party or his order; but the bank will not honor a check unless the cashier is sure that its signature was written by the depositor himself. In this case the cashier found the signature genuine, paid the check to the Union Bank and deducted the amount from the account of John Smith. The First National Bank having paid the money, retained the check and stamped it with the date and with the word "Paid." This "canceled" the check, which means that it was no longer of value to the person to whom it had been payable. The canceled check now became a "voucher" for the First National Bank. In other words, it showed, or "vouched for" the fact that the First National Bank had honored John Smith's written order to pay to the order of Charles Brown the sum of $125.25. When John Smith next presented his bank book at the First National Bank to have his account balanced, the bank returned to him all of the canceled checks which it had honored upon his order. Check No. 127 was among them. John Smith now had written proof that he had paid his debt to Charles Brown. This and the other canceled checks returned to him by the First National Bank are now Brown's vouchers to show, or vouch for, the fact that the debts for which he issued them have been paid....