Two examples of bills are resulted in this lesson

Two examples of bills are resulted in this lesson. Everyone is involved in a double copy. The original is sold [37] or sent abroad while the duplicate is kept
As a guarantee against original loss. When to everyone pay another, has no value. Notice similarity between bills as shown here and commercial projects as shown in our last lesson.

Cargo business of railways of the United States is much more than their passenger service, the

Cargo business of railways of the United States is much more than their passenger service, the income of the freight which is almost three times that from passenger movement. It is only in some of the states of New England, most densely occupied parts of the United States, that the passenger gives the receipt the equal cargo income. Industrial conditions of the United States demand movement of considerable quantities of the big cargo long distances. Our basic areas of grain from 1000 to 1500 miles from industrial areas and coast cities. Our richest iron deposits are in States, adjacent with Lake Top hundreds miles from coal layers of Illinois, Ohio, and Pennsylvania. The most part of a cotton crop is moved long distances to reach factories of New England and the Great Britain. Actually, the majority of products of our areas, woods, mines, and factories is sold on wide areas. The average distance has gone in each ton of the freight moved within year, finished on June, 30th 1896, there were 124.47 miles; and, as railways bore 765 891 385 tons that year, the number of the bearing one mile of tons was 95 328 360 278.

If you wish to use your check to pay the note, should in some other bank, or in real estate

If you wish to use your check to pay the note, should in some other bank, or in real estate purchase, either stocks, or bonds, you can find necessary to certify the check. It is made by the official of bank who writes or prints through the person of the check of a word 'or' Good When Properly Confirmed, 'and signs its name. (See an illustration). The quantity will be immediately subtracted from your account, and bank, guaranteeing your check, becomes responsible for its payment. Banks will usually certify any check, caught up them if to the investor have called for quantity to its credit irrespective of who represents the check, and this certificate does it for the person to bear in its pocket any quantity of actual cash. If you certify the check and then not use it, bring it in your bank, differently your account will be short quantity for which will delay the check. In Canada all checks are presented 'the keeper of the account book' for the certificate before to be presented to the paying cashier.
The certified check.
[15]
FULL VALUE OF BANKS

Now foreign trade of China is substantially in hands of Englishmen

Now foreign trade of China is substantially in hands of Englishmen. In a year 1896 foreign export trade of China made 167 000 000$. From this quantity 132 500 000$ was with the Great Britain and its dependences; 10 000 000$ with the United States; something more than 8 000 000$ with continent of Europe, exclusive of Russia, and is less than 2 000 000$ with Russia. In the same year foreign trade in import of China made 102 500 000$ from which 56 000 000$ was with the Great Britain and its dependences; the little more, than 9 000 000$ with the United States; 15 000 000$ with continent of Europe, exclusive from Russia, and 12 500 000$ with Russia. (Other part of its trade was mainly with Japan). The policy of the government of China should prevent always, or [142] limit foreign trade; and even today foreign trade can be continued only in twenty six Chinese ports - so-called 'the agreement
Ports. 'The policy of the Great Britain should provide according to the agreement so big privilege of trade with China as far as possible; to throw opened the privilege in the world, but to follow it with such commercial activity by its own part as would provide to it the lion"s share of turning out trade. From these twenty six ports now according to the agreement opened for the world for trade, twenty three, have been provided by the Great Britain and three Japan.
PORCELAIN EXPORT, IMPORT, AND RESOURCES

Annual value of full manufacturing of textile fabrics in British isles makes approximately 1 000

Annual value of full manufacturing of textile fabrics in British isles makes approximately 1 000 000 000$, not far short, really, one quarter of full manufacturing of textile fabrics all over the world. The Great Britain invested more than 1 000 000 000$ in its textile industry, and one half of its full export consists of [91] textile manufacturings. The clap, woollen, and linen fabrics - the main main products of this industry, but is many other branches of it and many
Other vicinities, in which it besides those already mentioned. Leicester (204 000), which, as many other industrial cities of England, lie in the coal field centre, the main place wollen jersey manufacturing. Dumfries - the main place of woollen manufacturing of jersey in Scotland. Kidderminster, in , is the main place of the 'Bruxelles' industry of a carpet; , in Wiltshire, the industry of carpet . Kilmarnock, in , is the main place of manufacturing of a carpet in Scotland. Nottingham (233 000) is capital of cotton jersey and manufacturing of a lace of England. Norwich (110 000), in east England, has noted manufacturing of a gauze and the fine goods of a dress. Noridzhsky textile manufacturing - a case of duration of the industry in the community historically connected with it though its place is far removed from a coal field. Silk manufacturing of the Great Britain almost is completely limited by a county of Derby and adjacent areas in England. Macclesfield, in Cheshire, is the main centre. Coventry is noted for its silk tapes and a gauze. But silk manufacturing in the Great Britain does not prosper as these its other textile fabrics. Actually, in forty years it depreciated three quarters. The British silk manufacturers are not so skilful in the extra charge of their products with paints as their French competitors, and in silks of English language of a consequence though it is peculiar is better than the French silks, look the lowest and consequently cannot be sold under the favourable prices. But, on the other hand, jute manufacturing of the Great Britain increases promptly. Established only sixty years ago, value of its annual development - now twice value of the whole manufacturing of silk, and in [92], twenty five years have trebled. The main place of this industry - Dundee
(160,000), in Scotland.
MANUFACTURING OF HARDWARE OF THE GREAT BRITAIN

Fishery of Gulf С-Lawrence and the small waters adjoining on Nova Scotia and Newfoundland, has

Fishery of Gulf -Lawrence and the small waters adjoining on Nova Scotia and Newfoundland, has within many centuries, the most productive in the world. The Canadian fishing interest in these waters is very big. The cod, a mackerel, a haddock, a halibut, a herring, smelts, and a salmon, is the basic fish, and annual 'capture' makes approximately 15 000 000$. Value for approximately 2 500 000$ , trout of a salmon, a herring, pickerel, and a sturgeon is made annually from the Canadian lakes. Annually fishes of a salmon of the rivers and the big sea entrance apertures of British [191] Colombia cause 4 500 000$.
Approximately one half of full product is exported to the Great Britain and the United States.
AGRICULTURAL PRODUCTS OF CANADA

The bank never should hand over to its notary a paper for the protest while it has not made sure,

The bank never should hand over to its notary a paper for the protest while it has not made sure, that its non-payment has not been caused by some error or misunderstanding. Rather often, even thus, that the paper has been made to subject payment in bank, the notary sends the messenger with the note to the manufacturer to make the formal requirement of payment.

[42]

Usual face value of the action of a stock makes 100$
[42]
Usual face value of the action of a stock makes 100$. Thus, if the company organises with the capital 200 000$, there will be actions 2000 to sell. Each person who buys or subscribes for a stock that is who joins the company - receives the certificate on a stock. Our illustrations show two examples; one of national bank, and other firm-manufacturer. These certificates are transferred in pleasure of owners. Transfer usually becomes the form in the end of the certificate, but to be legal, transfer should be registered on company books.
The certificate on a stock in national bank.

To depreciate the note means to sell it at a discount

To depreciate the note means to sell it at a discount. Norms of the discount change according to the safety offered, either character of the loan, or the state of the monetary market. For the usual bill of norm run from four to eight percent. The notes received both given by commercial buildings and depreciated banks, usually not during longer period than four months.
VIII. CLEARING HOUSE SYSTEM

The history of building of the American railways covers the period of seventy years

The history of building of the American railways covers the period of seventy years. The most part of [268] our distance has been constructed with 1870.
The following table and the diagramme illustrate growth of our railway system during every decade:

The privilege - the right given by the state or municipal corporation to people or to private

The privilege - the right given by the state or municipal corporation to people or to private corporation. The privilege of the company of the railway - the right to operate its road. Such privilege has a value which is completely distinct from value of factory or the usual property of corporation.

Each person who subscribes for a stock, has a part of business and is named by the shareholder

Each person who subscribes for a stock, has a part of business and is named by the shareholder. All shareholders meet together, and they choose certain number of directors from their number. Directors choose the president, and other necessary officials, and direct the general way a policy of the company. As a rule directors do not have any salaries enclosed to their positions. [44] general meetings of shareholders as it is considered, choose once a year directors
And to hear messages of officials.

These exchanges have some kind of commodity value and as all consumer goods, depend on the supply

These exchanges have some kind of commodity value and as all consumer goods, depend on the supply and demand law. When gold goes abroad, we say, that active balance against us that is, we buy more from Europe, than Europe buys from us, and gold is sent to pay balance or distinction.

All wholesale transactions and the big proportion of retail transactions are finished by passage of

All wholesale transactions and the big proportion of retail transactions are finished by passage of tools of credits-notes, checks, projects, etc.; the part only retail is spent according to actual accounts of currency and 'change'. Banks address with the most part of these transferred names and business to very small degree that is, is proportional - in actual money. Notes, projects, bills, and banker"s checks are representative for the property, passing the name in money from manufacturers to consumers. The small proportion probably six or eight in cent.-from these transactions is spent by means of actual bank or juridichesko-gentle notes. This trade in [18] tools of the credit makes in the United States of fifty billions of dollars annually.
VII. PROMISSORY NOTES
The usual form of the promissory note.

Clearing house certificates are used in many cities for payment of balances by banks of the debtor

Clearing house certificates are used in many cities for payment of balances by banks of the debtor. They are let out against the gold deposited with one of connected banks. They are numbered, registered, and signed by the appropriate official, and used only in settlements between banks. Various methods of creation of settlements are used. In some of cities balances are paid according to projects on New York or other centres of money. The bank of the debtor sells to some bank of the creditor the New York exchange, and receives in exchange the check or the order concerning a clearing house which when is presented does balance and credits. It is considered, that the actual cash used in the New York clearings, are less than one half one percent. From balances.
[252]
AS the REMOTE BANKS are connected by CLEARING HOUSE SYSTEM
check collections.

The cumulative effect of humiliated transportation should increase distance on which for the

The cumulative effect of humiliated transportation should increase distance on which for the manufacturer and the consumer probably to deal with each other. It offers the manufacturer wider market and to the consumer more various source of delivery. As a whole, humiliated transportation is more homogeneously favourable to the consumer; its time advantage to the manufacturer very often leads to overproduction. It has effect also callings of almost homogeneous prices all over the world.

In a capture in the newspaper of a collection banks should receive clear instructions from its

In a capture in the newspaper of a collection banks should receive clear instructions from its owners concerning, whether there should [47] be it objected in case of non-payment. It
No means follows it, the formal protest is not desirable, because the paper has no . Many banks do by a rule to object all not paid paper if differently is not ordered.

Commercial use, however, recognises the specific form in which this letter should be written, and

Commercial use, however, recognises the specific form in which this letter should be written, and the address of the person for which it is intended, is usually written in lower left corner instead of on an envelope. Commercial projects usually reach people on whom they are involved by means of banks, instead of directly mail. Allow us to illustrate. Assume, that Chicago should B 200$, and B wishes to collect quantity by means of the project. It is filled in the pure project, signs it, and addresses to it on [28] lower left corner to A. Instead of sending it mail it takes it to its bank
- That is, deposits it for a collection. It will reach the Chicago bank approximately in the same way which checks for a collection go from one place to another. The messenger from the Chicago bank will bear the project in office A"s and to represent it for payment or for acceptance. If it is the project that is, a kind the project subject to payment when A sees it - it can give cash for this purpose at once and to take the project as its receipt. If it does not have the money convenient, he can write through the person, 'Accepted, subject to payment in (its) Bank,' as on an illustration. It then will reach its bank and will be paid, as its personal check would be, and should be entered into its check-book. Banks usually give one day after kind projects. The project will not be presented to second time, but will be spent in bank before end of bank hours next day, where A can call to pay if he chooses. Softness as to time will depend substantially on instructions B"s and the bank relation to A. If the project - the urgent bill of exchange that is if B gives time, certain number of days to pay It if he wishes to pay the project, accepts it. It does it by the letter of the word accepted with date and its signature through the person of the project. It can make it subject to payment in its bank as it would be the note if he so wishes. It then returns the project to the messenger and if time is long, the project is returned to B; if only a few days, bank hold it for a collection.
Number 1. The kind project.
Number 2. The approved ten-day project of a kind.

Having considered industrial and trading conditions of other great commercial nations of the world,

Having considered industrial and trading conditions of other great commercial nations of the world, should remain now for us to consider these conditions in the United States. But the United States - so big country, both its trade and industrial interests are so various and extensive, that for us within our place even only it would be impossible to concern all these interests. So that rather 'Trading Features of the United States' we were simply limited to one part of a subject namely, character, degree, and importance of our foreign trade. And we will be, further, should limit us in basic our export. They, as will find, there will be mainly not , but products our agricultural great, a mining industry, and wood industries. The total cost the United States makes in round numbers the huge sum 10 000 000 000$ annually, the sum much more than third (these are thirty five percent). From a total cost annual the world. But only very small part of this extensive production is exported. [195] most part of it is used to sustain still more extensive domestic trade of our country, trade which
The quantity to more than 15,500,000,000$ annually, quantity is not far were one third of full domestic trade of the world, and is not far were twice domestic trade of the Great Britain and Ireland, the country which domestic trade arrives near to ours. Our export, therefore, is not in the main goods of an industrial function, but grains, conditions, and raw materials, manufacture of our farms, our plantations, our woods, and our mines. But mainly they - products of our farms and our plantations as except for a clap we do not export a lot of raw materials. Almost all raw materials, which we make (except a clap) we use in our own . And even it is not enough, for besides we should import significant amounts of raw materials for ours from other countries, the basic points which are crude sugar, crude silk, a crude wool, chemicals of various kinds, including dyes, wood, tin, nickel, and a paper stock disappears also skin.
OUR EXPORT TRADE IN DETAIL

To the student of a civilisation India - one of the most interesting countries in the world

To the student of a civilisation India - one of the most interesting countries in the world. It always was one of the most fertile and densely populated areas of globe. Within many centuries it as thought, was one of the richest. In a consequence it, again and again, there was a scene of intrusion, a gain, and property capture. But its riches never consisted so in natural treasure as in savings of hardworking and modest people. Since a year 1600 European nations had the direct relation to India, especially England, France, Portugal, and Holland. Within last 140 years, however, England was the dominating power there. Regardless of the fact that can be told concerning an occasion of intervention of England in affairs of India first, it is possible to tell only, that existing influence of England in India is very favourable to the country. Prosperity of India as a whole is comparable now to that from any civilised nation on globe. And people who once, because of a repeated gain and property capture, have lost all sense of honour and self-respect, now, under soft influence of the world, the law, the order, and safety, quickly becoming noble, itself [130] - assured, both initiative, and ambitious to possess all rights and privileges of the modern
Civilisation.
THE SIZE OF INDIA AND THE POPULATION

There the class of financial institutions which take some kind of the second plan between

There the class of financial institutions which take some kind of the second plan between commercial bank and savings bank has grown in this country, how much their service to the public is interested. They - that is known as to the company. National banks are forbidden according to the law from creation of loans on real estate and though the State Banks are not insured thus as a good banking they usually avoid loans of this character. The policy of commercial banks should make many rather small loans for a paper of the reduced working day while that from the companies should make the big loans for old [224] securities. Deposits the companies consist substantially of the serene sums what could be bypassed managers, executors, trustees,
Committees, societies, or from private conditions. They - what hardly will fluctuate very much in quantity. From the nature of their trust of deposits of the company find it convenient and favourable to make the big loans and in longer periods, than do usual banks. the companies not only receive the sums of money for the deposit which is subject to the check and for savings, and lend money for the bill and other securities, also, as well as commercial banks; but they also operate as agents, trustees, executors, managers, representatives, receivers for individual properties, and corporations. They often help as patrons or reorganizers of corporations and with sale of stocks, bonds, and securities. They operate also as agents for payment of the obligations which are becoming ripe in the future dates, such as awards on insurance, interest on and bonds, etc. the companies are organised according to state laws in which they exist and are usually subject to all supervision demanded in case of the State Banks.
[225]
III. CORPORATIONS AND THE JOINT-STOCK COMPANIES [9]
CORPORATIONS

But, fertile as soil of India, and benevolent to an agricultural production as its climate in

But, fertile as soil of India, and benevolent to an agricultural production as its climate in general, its climate is not always favorable. It periodically suffers from surplus of a drought. As consequence to artificial it is necessary to address, or the most part of this fertile country often was desert. In one only the British India of irrigation canals of 28 000 miles are under the government control, 14 000 from which have been constructed by existing (British) governmental works of extensive measurements and the highest technical skill. As a whole 28 000 000 acres in the British India depend for their necessary delivery of humidity to the general , and 8 000 000 on irrigation canals. There was it not for these irrigation canals, 2 000 000 acres in Scinde (northwest India) will be infinite desert as Scinde it is almost perfect . On the other hand, in the most part of India the downpour is excessive. Some areas really are the most damp on globe. In Assam, for example (which is also one of the hottest places in India), the downpour makes 600 inches annually, and it was 650. As consequence of the river in India often leave the coast. Therefore, to protect the country on lower river limits from flooding the British government has constructed more than 1500 miles of quays.
[132]
MINERALS OF INDIA

As any other tool of the credit, a waybill can be deposited with the creditor as safety for money

As any other tool of the credit, a waybill can be deposited with the creditor as safety for money has promoted (or it can be transferred the buyer) means , and the property or the goods will be thus or are put in pawn or appointed. Operating on this principle, the consignor declares in a waybill, that it is necessary to put the goods to , or it appoints. When the consignor is incapable to insert a name when the waybill is disassembled, the account to order is made in what, the name is replaced according to the order of the consignor of words, or easier to order; it thus the understood, which goods it would be necessary to put whom gifts, in mission point, a waybill properly confirmed with the consignor. According to such simple arrangement as the account, to order to the dealer allow to sell the goods while they in the sea, or in ways, and cargo of the goods can pass to other owner some times before to arrive to its destination.

Canada as all new countries, depends for its prosperity on development and export of its natural

Canada as all new countries, depends for its prosperity on development and export of its natural products. They have four big classes: (1), products of its woods; (2), products of its mines; (3), products of its fishery; (4), its agricultural products. Wood resources of Canada when both degree and quality consider, are the finest in the world. The wood not cut area was in 1891 almost 1 250 000 square miles, or it is more than one third of area of the whole country. Annual value of wood and the made wood makes approximately 82 500 000$. Annual value of wood and exported wood makes approximately 32 000 000$. Two thirds of it go to the Great Britain, and more than 9 000 000$ in wood and registration go to the United States. At Quebec and Ontario is unlimited deliveries of a fur-tree for manufacturing of the wooden pulp which annual development reaches 200 000 tons. Not cut wood of British Columbia which includes a pine of Douglas, fur-tree Menzies, an elegant, red-yellow cedar, and as it is estimated, makes 100 000 000 000 cubic foots.
MINERALS OF CANADA

But influence which is more than something else have defined specialisation of industries in

But influence which is more than something else have defined specialisation of industries in certain places in the Great Britain, instead of in others, was presence of coal fields. Only in very few cases have the big industries, supported in areas which are not coal manufacture. The most occupied the industrial centre in all Great Britain - it is possible, Southern Lancashire, the big place of cotton manufacturing. Southern Lancashire - one big coal field. Liverpool, great cotton port of the world, on one edge of this area. Manchester, cotton capital of the world, on other to edge. Between and about these two main cities the whole nest of the big cities and city Preston, Burnley, Blackburn, Rochdale, Bolton to Bury, Ashton, Stockport, Oldham, etc. - each of which is completely devoted cotton interest. From their position all these cities receive both the driving power and the raw materials at the lowest cost. But in addition to its advantages of cheap coal and cheap raw materials Southern Lancashire has one other big advantage in favour of its special industry - its climate extremely approaches for the industry. Its atmosphere is crude, both not too crude, and its temperature is not too cold. The cotton thread can be spun and it is weaved in Lancashire which in other place would break. In hardly any other place in England has a cotton interlacing [88]
Or clap rotation ever proved success. The cotton industry of Scotland so is not localised, as it is in England, but Paisley (65 000) is known all all over the world for its identification with manufacturing of a cotton thread. At Ireland is not present any important cotton except in Belfast. One third of the clap made in the world, is made in the Great Britain. The full product makes approximately 14 000 miles of a fabric daily. Number of separate factories - more than 2500. The annual product makes 500 000 000$ which is hundred times, than it was hundred years ago. Quantity of the crude clap imported annually to sustain this huge manufacture, makes 1 750 000 pounds.
The big industrial areas of England.
[89]
WOOLEN MANUFACTURING OF THE GREAT BRITAIN

Income bonds are usually provided закладом on the corporation income, letting out them

Income bonds are usually provided on the corporation income, letting out them. Interest on such bonds should be paid before dividends are declared to shareholders. It is standard, when such bonds are let out to postpone percent from the income as decreasing fund, to meet bonds in a maturity.

But natural advantages of the situation captured by these big cities, have been grandiosely added

But natural advantages of the situation captured by these big cities, have been grandiosely added by the enterprise of their inhabitants. Glasgow - only river port. As on twenty miles below its site Clyde is naturally narrow, small, and burdened with shoal. In places it is natural no more than fifteen inches depth. Expenses the sum is not less than 60 000 000$ this small stream has been transformed to the continuous harbour levelled from both parties for miles with moorings and docks, and easily capable to placing of the greatest and finest trading courts afloat. As consequence of this enterprise of Glasgow became the greatest port of shipbuilding in the world. No less than twenty shipyards any less - in efficiency and size very much the highest exists a class to be found along banks once small, impassable Clyde, between appropriate Glasgow and a river mouth.

Now it will cost B a considerable sum of money to send? 14 000 in gold to A, for all exchanges

Now it will cost B a considerable sum of money to send? 14 000 in gold to A, for all exchanges between Europe and America are subject to payment in gold. Assume, what S New York should T London? 14 000, and T involves S and takes the project to Surround with shaft B in London and offers it for sale. Offer Will B more or less than? 14 000 for the bill or the project? He will offer more. More cheaply for it will pay the award for the project than to send gold, as it can send this project to Operate bank, to pay its debts, and A can gather from S.

Clearing house - rather modern establishment, the Edinburgh bankers demanding the credit of an

Clearing house - rather modern establishment, the Edinburgh bankers demanding the credit of an establishment first. The earliest clearing house which transactions we have any report, is a clearing house of London based approximately in 1775. Within completely seventy five years the London clearing house and that from Edinburgh were the unique organisations of the kind known to exist. Monetary and credit systems of the majority of the European countries concentrating round one great national bank, located for the capital of everyone, found in it means of realisation of commercial settlements. The New York clearing house has been established in 1853 from which are dated, the American system of a clearing house grew to huge proportions. Any country in the world does not have so big requirement of clearing houses, as in any country a banker"s check, so in general used in payment of usual accounts.
TRANSFER of CREDITS To CLEARING HOUSES

Growth of railway corporations of the United States was typical for development of the industrial

Growth of railway corporations of the United States was typical for development of the industrial organisation in this country. Early railway corporations were small. Philadelphia, Wilmington and the Baltimorsky Railway, for example, included lines of four companies. In 1850 road connecting Albany and , included lines of seven companies. Within last fifty years the majority of the small companies united to generate corporations which operate now our big railway systems. Though last statistical message of the Interstate Commission of Trade - that within a year finished on June, 30th 1896 - contains financial messages from 1985 companies, there were only 782 'independent operational roads,' the rest from the companies to be the auxiliary organisations. This message shows, that forty four of these making firms have a cumulative distance which is equaled almost to the six tenth parts of full railway distance of the United States. Really, the statistican to the Interstate Commission of Trade declared in 1894 it 'more than 83 percent. From business of railways and 82 percent. From their income fall under the control less than forty associations of business men.'

Projects often depreciate in banks before acceptance where the box credit is good

Projects often depreciate in banks before acceptance where the box credit is good. In such cases projects which are dishonoured, are being 'under a high' against the box account.
X. THE FOREIGN CURRENCY

Great commercial centres of the Great Britain after London - Glasgow (800 000), Liverpool (700 000)

Great commercial centres of the Great Britain after London - Glasgow (800 000), Liverpool (700 000) and Manchester (640 000, including Salford). All these cities have received the most part of their size from successes which they have made within existing century. All is owed, of course, by their advancement and their prosperity substantially to their natural advantages of a situation, etc. Liverpool costs on the brink of Atlantic, 'the Mediterranean the modern world,' and thus it possesses the basic action of trade with America, especially with the United States. Import of the Great Britain from quantity of the United States to more than 500 000 000$ in a year, and its export to the United States (exclusive from an ingot, etc.) To more than 100 000 000$. (Before export to the United States was twice this quantity). From this extensive trade, making one fifth the British full trade with the world, Liverpool possesses the lion"s share. All clap, it is not simple the United States, but [83] world which is used in Europe, send to Liverpool for distribution. In the same way Glasgow,
Located with its aspect directed to the same sea routes, possesses also huge transatlantic trade and the north and the south. And Manchester located in the heart of the richest coal areas of kingdom, and within easy reach of great cotton port, Liverpool, has created the cotton manufacturing industry surpassing those from all other part of the world.
THE COMMERCIAL ENTERPRISE OF GLASGOW, LIVERPOOL, AND MANCHESTER

[7]

The example resulted below displays badly written check and what could be very easily lifted
[7]
The example resulted below displays badly written check and what could be very easily lifted. The roguish receiver could, for example write, 'ninety' before 'six' and '9' before number '6', and thus to lift the check from 6$ to 96$. If it has been made, and the check on money the manufacturer, instead of the bank, would become responsible for loss. You cannot consider other people responsible for your own negligence. The check has been lifted from 100$ to 190$ by the letter of words 'and ninety' after words 'hundred.' One of code numbers in numbers has been changed on '9', adding a tail to it. Wisely to pull a running line, thus ~~~~~~, after quantity in words, thus preventing any additional letter.
Badly delayed check.

To make favourable investments into stocks, the buyer should expect the future

To make favourable investments into stocks, the buyer should expect the future. The factory which can be the working day and at night this year, can be obliged to be closed completely next year. Business which is opened for public competition, should risk on its future success. Than income, especially indisputable competition more. Many corporations, having monopolies on the basis of the accessible rights have earned the big conditions, but always there is a possibility of new opening. The electricity followed gas; phone competes to telegraph; the cart is reduced in profit in railways. Next year the good thing in stocks not necessarily means today a good thing. Railway stocks have such various character that it is impossible to make here more than the general statements. Many of our stocks of the railway bring the prices far at a premium and pay liberal interest on investments. Some of them are so favourable, that they are really not in the market and cannot be easily bought. Others represent the roads overloaded with and other obligations so heavy, to make stock by really responsibility, instead of a resource to its owner. Stock quotations represent in the general way comparative value of these securities. From a recent stock the stock of the electric railway is the most popular and in many cases the most favourable. Electric power introduction has reduced the working expense, one half and has in most cases doubled movement without any reduction of [237] fares. The buyer should make sure, that the road is in the occupied
The community, capable to sustain it, that its privilege will protect it from dangerous competition, and that securities have been let legally out.
REPLACEMENT SECURITIES

Banks have a custom, after payment and a gymnastics of checks, cancellation them, striking a fist

Banks have a custom, after payment and a gymnastics of checks, cancellation them, striking a fist or forcing some to cut through their person. These cancelled checks are returned manufacturers in the end of each month.

In the same way the enterprise of dealers of a vessel of Liverpool has transformed port which

In the same way the enterprise of dealers of a vessel of Liverpool has transformed port which inflow and impassable bars naturally would give unsuitable to modern courts, to the greatest navigable port in the world. Hundred millions dollars have been spent in creation im [84], provement, but 5 000 000$ is a year-book
The income received therefrom in dock dues one. And because of this enterprise Liverpool can brag now about management of one quarter of all import of kingdom, and two fifth all export, and processing of three quarters of all grain and trade in a kingdom condition, and presence of the greatest warehouses of grain in the world.
Manchester ship canal.

The agriculture, including cattle-breeding, manufacture of dairy products and gardening, is the

The agriculture, including cattle-breeding, manufacture of dairy products and gardening, is the biggest industry of Canada. More than 23 000 000 acres are under a crop and approximately 20 000 000 under a pasture. More than 3 000 000 acres are under wheat. Export of Ontario more than two times so is a lot of cheese as all United States, and its product of cheese is recognised as the finest in the world. Canada exports to one only the Great Britain value for 15 000 000$ cheese annually. In 1896, in one only Ontarios, 170 dairy have appeared more than 6 000 000 pounds of butter at the average pure receipt 18? Cents pounds. The refrigerating services given by the governmental Canadian, it is possible to send oil even from far internal points to Liverpool or London without the slightest deterioration. England buys value for 6 000 000$ Canadian bacon and annually, and the Canadian beef is already known in the London market. The American grain for stock feeding suppose to Canada, duty-free and value for approximately 10 000 000$ is imported annually. A lot of east and southern Canada is well adapted for lifting of fruit. The peninsula Niagara -Clair Ontario is especially known for its peaches and .
TRADE OF CANADA WITH THE UNITED STATES

Original receipts, declaring marks and quantities of the goods, go with each job lot of the goods

Original receipts, declaring marks and quantities of the goods, go with each job lot of the goods to cargo canopies or courts, and it they sum up in a formal waybill, on which when all cases or the sheaves belonging to specific shipment, have put. The double receipt, or a part usually marked the account, other end, usually marked original, [60] is kept by the freight receiver, and, given
The carrier. In creation of usual shipments it not usually or is necessary to disassemble a formal waybill. Certainly, when no waybill is disassembled, the receipt should be kept the consignor. The full contract is usually printed on the receipt, but it needs to be remembered, that the receipt not the contractual tool and cannot be used as safety for money.
The navigable (original) receipt.