Indorsements once made hereon, of payments, must be allowed to remain without alteration or erasure. Care should therefore be taken to understand exactly about payments desired, before inscribing amounts below. On the payment of any sum exhausting this credit, this letter must be surrendered by the holder and attached by the banker negotiating the draft to the said draft.

Note. - On the pages following, in a regular letter of credit, are the names of towns and cities, and banks therein, any one of which will advance money upon the letter of credit. The list includes banks in all parts of the world.

In what Funds usually drawn. - Letters of credit are usually drawn payable in pounds sterling; but they are paid in the current money of the country in which they are negotiated. They pass everywhere as cash, since any banker in the world would usually be very willing to buy a reliable sterling draft on London. Thus with a letter of credit a traveler can make a trip around the world with no more real money on his person than is necessary to meet immediate local expenses.

Commission Charges. - The cost to the purchaser for a letter of credit is usually about 1 % of the amount of issue, though no letter will be issued for less than $5.