Banks which deal in "foreign" exchange usually furnish what are known as "letters of credit" to travellers and others needing funds in countries outside of the United States. For instance, a person in Chicago proposing to visit places in Europe, Asia and Africa needs $2,000 to pay his travelling expenses during the trip. It would be inconvenient and unsafe to take this amount in United States gold coin, which in every country he visited would have to be converted into a different kind of currency, as pounds, shillings and pence in Great Britain, francs in France, marks in Germany, roubles in Russia, rupees in India, and so on. The traveller therefore deposits $2,000 with a bank in Chicago dealing in foreign exchange, and receives from it a "letter of credit," which is a circular letter addressed to all of its "correspondents" abroad, or banks and bankers with which the Chicago bank does business, or keeps funds on deposit in the principal cities in the countries to be visited. This letter entitles the person named therein to receive the equivalent of $2,000 United States money either in one sum from any one bank or banker to whom the letter is addressed, or in various sums, at various places, such sums not to exceed $2,000 in the aggregate. The names and locations of all the banks to which it is addressed are printed in a list in the "letter of credit." The traveller is able to "identify" himself whenever he pre-sents the letter by his signature, which he is required to place on the letter when he receives it. For each sum received by him he signs a receipt in a printed list in the letter, showing the amount paid him by each banker, together with the date and place of payment. By adding up these sums each banker is enabled to know how much of the $2,000 is still unpaid. Sometimes in the place of a letter of credit a bank will furnish drafts or checks for stated small amount-like $50 each, made payable to the order of the traveller and bearing a specimen of his signature by which to identify him. Each draft, like the letter of credit, bears on the back a printed list of the banks or bankers in various places who will pay it on presentation. For the letter of credit or drafts for $2,000 the traveller must of course pay something over and above the $2,000 to cover the cost of "exchange," or of placing and keeping funds with foreign bankers out of which he can be paid at his convenience.