As an important branch of a bank's business is to sell drafts or checks on foreign points, in a large bank this occupies the time of one or perhaps more clerks, whose business it is to fill out the drafts or checks on other banks or bankers, have them signed by the proper officer (usually the cashier or assistant cashier), and receive and turn over to the proper teller the money or checks received in payment.

If the drafts or checks are bound in book form with stubs, the exchange clerk, before drawing the draft, should enter the necessary data in the stub, from which the general book-keeper may make his entries during the day or at its close.

At present, however, some banks prefer to have the drafts numbered sequentially, put up in pads of 50 or 100 each, and to use, in connection with this, a book printed in the following form, in which to enter the necessary data instead of in the stub:

Drafts On Citizens' National Bank, Jonesville, Ohio

Date.

To Order of

Amount.

Number.

Mar.

20

Henry Jones & C0...................................................................

10 51 20

1,000

21

J. Smith.......................................

22 25

1,001

22

S. Brown.............. .................

500

1,002

J. Smith................................................................................................................

4 5OO

1.003

Henry Jones & Co.................................................................

2 300

1.004

The advantages of such a record are that it is much more compact than a book with stubs and is much more convenient for making up an account current for the correspondent bank on which the drafts are drawn, or for comparing an account received from such a bank.