The practical work of a bank : a treatise on practical banking which aims to show the fundamental principles of money, the practical work of a bank in detail, and particularly, credit in its relation to banking operations . \ The small bills are depos- 130 THE PRACTICAL WORK OF A BANK ited in sums varjdng from a few dollars from individual de-positors up to great bundles brought in by large corpora-tions, railroads and from correspondent banks. The loosebills are verified by the receiving tellers and sorted into thetills to be made up into packages as soon as time permits. It is customary for
The practical work of a bank : a treatise on practical banking which aims to show the fundamental principles of money, the practical work of a bank in detail, and particularly, credit in its relation to banking operations . \ The small bills are depos- 130 THE PRACTICAL WORK OF A BANK ited in sums varjdng from a few dollars from individual de-positors up to great bundles brought in by large corpora-tions, railroads and from correspondent banks. The loosebills are verified by the receiving tellers and sorted into thetills to be made up into packages as soon as time permits. It is customary for banks to furnish their depositors^vith bill straps, with printed spaces for the amount, the de-positors name and date of deposit. During the day thesebills are sent to the bill tellers department in their originalwrappers. In a large bank it is not an uncommon occur-rence to receive as large a sum as $700,000 in a day, and thebill tellers department in such a bank is a busy one. In this department there may be fifteen to twenty bill. CUHaEKCY-CXrmNG AND SIGNING MACHINE ONE TURN OF THE HANDLE CUTS FOUtt NOTES AND SIGNS THEM counters, whose duty it is to verify all these various pack-ages of cmTency, to cull out the unfit bills, and to sort andarrange the good bills in form suitable for use at the pay-ing tellers windows and for shipment to correspondentbanks. An average of from thirty to forty per cent, of cur-rency so deposited is unfit for circulation. These bills are counted so that ones and twos are in $100straps; fives in $500 straps; tens in $1,000 straps, and twen-ties in $2,000 straps, the straps being of different colors thatthey may be readily distinguished. At the close of the daythe even packages are sent to the paymg teller, the oddamounts and unverified packages remaining with the billteller, who keeps a debit and credit account with the payingand receiving tellers. With this amount of cash it is extremely important thatit shall be stored in the vault in such shape
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Keywords: ., bo, bookcentury1900, booksubjectbanksandbanking, booksubjectmoney
