Peter Parley's Illustrations of Commerce (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. 1849. Excerpt: ... BANDANNAS: silk handkerchiefs, generally red, spotted with white, manufactured in the East Indies. BANK: a common repository, where many persons agree to keep their money, to he always ready at their call or direction; or certain societies or communities, who take the charge of other people's money, either to improve it or keep it se"cure. Generally a bank is established by a company of monied men, who, being duly incorporated by the laws of their country, agree to deposit a certain considerable fund, or joint stock, to be employed for the use of the society; as lending money on good security, buying and selling bullion, gold and silver, discounting bills of exchange, &c. Banks are of three kinds, namely: of deposit, of discount, and of circulation. A bank of deposit receives money to keep for the depositor, until he draws it out. Another branch of the banking business is the discounting of promissory notes and bills of exchange, or loaning money on security. A bank of circulation issues bills or notes of its own, intended to be the circulating currency or medium of exchange, instead of gold and silver, which they represent. Most of the banks in this country unite all these several offices. BANKRUPT. A trader is said to be bankrupt whose circumstances, being such that he is unable to pay his debts, force him to commit an act of bankruptcy, or to declare himself insolvent. BARIGA: a species of raw silk, brought from the East Indies. BARILLA: the name of a seaplant which grows very plentifully on the coast of Spain. It abounds with soda; and the impure ashes of the plant, containing that salt in great abuadance, form an important article of commerce. Th; ashes themselves are commonly called barilla. On the shores of the Mediterranean, where the preparation ...