Michigan historical collections . ^.^,*M,ru,,,^^^^. lUON MONEY. FROM BILLS SENT BY HON. PETER WHITE. SKETCH OF IRON MONEY. 285 tlie draft m payment. If there was change coming to him as therealmost ahvajs naturally would be, the storekeejjer did not pass it outto him, but putting the draft in his drawer, told the man that thebalance would stand to his credit for more goods. So the contractordid not get any cash out of the transaction at all, and if he neededmoney to pay his men, would not know where to turn to get it. Whenhe needed money again, he would be tendered a second draft by theco
Michigan historical collections . ^.^,*M,ru,,,^^^^. lUON MONEY. FROM BILLS SENT BY HON. PETER WHITE. SKETCH OF IRON MONEY. 285 tlie draft m payment. If there was change coming to him as therealmost ahvajs naturally would be, the storekeejjer did not pass it outto him, but putting the draft in his drawer, told the man that thebalance would stand to his credit for more goods. So the contractordid not get any cash out of the transaction at all, and if he neededmoney to pay his men, would not know where to turn to get it. Whenhe needed money again, he would be tendered a second draft by thecompany, but made wise by his previous experience, he would say; I?cant use a draft. The storekeeper, who gets it will force me to tradeit all out at his store. Well, the agent would say, I see the force-of that, and I will divide the hundred dollars due you, into twentydollar amounts. Even that did not suit perfectly, and finally the ex-pedient was hit upon, of printing a regular form for small sight draftsof five and ten dollars each. The old compani
Size: 2988px × 837px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookauthormichigan, bookcentury1800, bookdecade1870, bookyear1876
