passed through his cash account. This is sometimes called being "entered short." Some banks make one book serve the purpose of both a Bill-Journal and a Discount-Journal; one page of the book being used as a Discount-Journal, and the opposite page being used as a Bill-Journal. 4. THE LISTS.-Each banking-house divides London into a certain number of districts, according to the extent of its business. Each district is called a Walk, and usually takes its name from the direction in which it lies; as the East Walk, the West Walk, and so on. To each walk is assigned a book, in which is entered every day a list of the bills due in the walk, and hence the book is called a List. Each List takes its name from the walk to which it belongs, as the East List, the West List, &c. The page is divided into four columns, the first and third of which are cash columns. In the first column is entered the amount of the bill, in the second, the name of the accepter and the register-number. This is done the day before the bills are due. After the teller has returned from presenting these bills for payment in his walk, he “ answers each bill; that is, he places against it an account of the cash he has received for it, whether cheques, bank notes, or money. The amount is entered in the third column, and in the fourth the description of each kind of cash. If the bill be not paid, he writes L. D. for "left direction," and then enters the bill in the "Unpaid-List." In the UNPAID-LIST are entered all the bills not paid when presented for payment. In the course of that day or the following these bills are "answered," either by being paid, or by being passed to the debit of a customer's account, or by being transferred to the Past-DueBill-Book. In some banks the Unpaid-List is called the "TAKE-UP-Book." Cheques upon other banks are entered in the Lists in the same way as bills, unless the bank sends a clerk to the Clearing-house, and then they are entered in the "Clearing-out-Book." From this description it will be seen, that when a sum is received to the credit of a current account, it is entered in the Received-Waste-Book, copied from thence into the Day-Book, and from thence into the Current-AccountLedger. When a cheque is paid to the debit of a current account it is entered from the cheque itself into the PaidWaste-Book, the Day-Book, and the Current-AccountLedger. When a sum is received for a deposit receipt, the sum is entered before the receipt is granted in the DepositReceipt-Book, and afterwards in the Received-Waste-Book and Day-Book. When a deposit receipt is paid, it must be discharged in the Deposit-Receipt-Book, then entered in the Paid Waste-Book, and afterwards in the Day-Book. When a bill is discounted, the discount is calculated by the accountant, who at the same time observes if it is drawn on a proper stamp, and is in every respect a regular and negotiable instrument. If the party for whom it is discounted have a current account, the full amount of the bill is placed to his credit, and he is debited for the interest. If he have no account, he is paid the amount minus the discount, and the entry is made in the PaidWaste-Book. The bills discounted each day are entered individually in the Discount-Register, and the total amount copied into the Day-Book. The bills are also entered individually in the respective accounts in the DiscountLedger, and under the days they fall due in the DiscountJournal. When these bills are due, the amount paid each day is entered in the Day-Book in the cash column, and the amount unpaid is transferred to the Past-Due-Bill account, and is entered in the Day-Book in the transfer column. When a bill is deposited, it is entered in the Bill-Register, the Bill-Ledger, and the Journal. When due, it is placed to the credit of the party by whom it was lodged, and is copied from the Journal into the Day-Book, thence into the Current-Account-Ledger. If unpaid, the account is debited on the following day, and the bill is returned to the depositor. At the commencement of each day, all the entries made the preceding day in the Day-Book, are marked against the respective books by the accountant, or under his superintendence. He also marks the Cash-Book, and checks the adding-up. The Customer's Books are then compared with the Current-Account-Ledger. The debit side of these books is usually written up the preceding evening from the vouchers by the tellers, or out-door clerks. The accountant writes up the credit side, and sees that both sides agree with the Current-Account-Ledger. III.-The Country Department. In this department is managed the business of the country banks, and of those customers who live in the country. When the letters are delivered in the morning by the postman, one clerk takes them, and enters in the Waste-Book the cash enclosed in the letter to the credit of the respective parties. Another clerk takes the letters and enters the bills in the Country-Bill-Register, the Bill-Ledger, and the Bill-Journal. The letters are then handed to a third clerk, who copies off into a book all the payments, which are to be made immediately in cash. This book is usually called the Draft-book, as the party receiving the money signs a draft for the amount, which is as good as signing a receipt. If the payment is to be made to a banker, he receives notice in a printed form called a memoran dum; but if the payment is ordered to be made to a private individual, he must call for it and claim the exact amount. A fourth clerk now takes the letters, and enters all the advices (that is, bills advised to be paid when due) in the Advice-Book and in the Advice-Journal. The corresponding clerk who answers the letters usually manages the stock department. Hence he observes the orders to purchase or sell stock, to procure powers of attorney, and other business of that kind. When writing a reply to the letters received, he notices if all the items in the letters are marked by the proper clerks. If anything is wrong he is informed of it. Bankers' letters are usually short and plain, comprising only two or three lines. Those London bankers who act as agents to banks, or to other parties in the country, will have occasion for the following books. The first seven are kept in the same manner as the corresponding books in the Town Department. All the entries in the Country-Ledger, as well as those in the Town-Ledger, must first pass through the Waste and Day-Books. The credit side of the Ledger is posted from the Bill-Journal and the Day-Book. The debit side is posted from the vouchers themselves, and, like the debit side of the Town-Ledger, will mark against the Paid-Day-Book and the "Clearing-in-Book." 1. A Country-Ledger. 2. Country-Bill-Register. 4. Country-Bill-Ledger. 7. Country-Discount-Journal. 8. Advice-Book.-In this book is entered an account of bills advised to be paid on account of the Country Banks. This book is kept ledger-wise, each bank having a separate account. 9. Advice-Journal.-This book is similar to the BillJournal, and it contains the advices under the heading of the days on which they are to be paid. 10. Credit-Book.-This book contains an account of the credit granted by a country bank in favour of any party. Each party has an account open for him in this book, and the amount of his credit is placed to this account. He is debited for such cheques as he may draw, and the cheques are then passed to the debit of the country bank in the Country-Ledger. 11. Acceptance-Book.-In this book are entered those bills which have been received from the country, and which require the acceptance of the party on whom they are drawn. The entry includes the date when taken out, the name and residence of the drawee, the register-number, and the amount. There are also two vacant columns, in one of which the clerk who takes the bill for acceptance enters his initials when he brings it back; in the second column are entered the initials of another clerk to whom the bills when "brought in from acceptance" are delivered. Though this book is connected with the country department, it is usually kept in the town office. 12. Stock-Book.-London bankers have usually powers of attorney from their correspondents in the country, authorizing them to receive dividends on the Government funds. All these are entered in a book called the StockBook. The book is divided into several parts for the different kinds of stock, as 3 per cent. Consols, 3 per cent. Reduced, &c., &c. In each division are entered the powers of attorney held by the bank. The entry includes date of the powers, names of the attorneys, names of the holders of the stock, and the amount. These entries should be |