ACCOMMODATION BILLS.
As one precaution against bills bein« accepted for a mere commission without any value being received, why should it not be compulsory to state in the body of every bill drawn the nature of the transactwn, as is done in the case of many produce bills drawn from abroad ? It may be said deception and evasion would still be easy ; but supposing the law enabled the discounter of a bill bearing a false statement as to the object withTwhich it was drawn to indict the parties to the making of such a document for felony, as having obtained the money under false pretences? Both drawers and acceptors would probably, for the future, hesitate unfler such circumstances before they agreed to assist in the wholesale manufacture of finance paper based on nothing.— London Times. s
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Bibliographic details
Otago Witness, Issue 1243, 25 September 1875, Page 3
Word Count
136ACCOMMODATION BILLS. Otago Witness, Issue 1243, 25 September 1875, Page 3
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