This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
A Persian philosopher, being ashed by what means he had acquired so much knowledge, answered, "By not being prevented by shame from asking questions where I was ignorant."
In 1895, the Editing Committee of the Journal of the Canadian Bankers' Association consisted of Mr. J. H. Plummer, then Assistant General Manager of the Canadian Bank of Commerce, Mr. J. Henderson, Assistant General Manager of the Bank of Toronto, and Mr. E. Hay, Assistant General Manager of the Imperial Bank of Canada, and to these gentlemen, and to Mr. V. C. Brown, who for many years acted as Editor of the Journal, its readers are indebted for a fund of useful knowledge, which the presentation of in book form will, it is hoped, serve to perpetuate and make easy of acquisition. The hundreds of questions received deal with nearly every possible point of practical interest likely to present itself during the daily routine of a bank. The replies given by the gentlemen named, and by their successors in office, to the questions asked of them, necessitated a thorough knowledge of banking custom and usage, and of the general principles of the law as it appertains to acceptances, cheques, deposit receipts, endorsements, letters of credit, circular notes, warehouse receipts, partnership accounts, powers of attorney, bankers' lien, forgery, negotiable instruments, bills of exchange, promissory notes, surety, etc. It is not claimed that the reply to every enquiry appearing in " Canadian Banking Practice " is so sound and reliable as to challenge the issue of a suit at law, but as in instances where legal points were involved the advice of counsel was sought (the legal adviser until recently being Mr. Z. A. Lash, K.C.), there is good reason for believing that the large majority of the answers appearing in this book may be safely accepted as correct and reliable.
The work of collecting and classifying the questions which have appeared in the Journal has been made easy by the extreme care displayed by Mr. Vere C. Brown during his occupancy of the editorial chair of the official organ of Canadian bankers, and the compiler of " Canadian Banking Practice" cheerfully admits that, if this book is favourably regarded by its readers, any praise bestowed upon it belongs in great measure to Messrs. Plummer, Henderson, Hay, and the present Journal Questions Committee.
It will be noticed that, in some cases, the point involved in the matter immediately under consideration appears in more than one of the published questions. Some possible variation in the replies given to such enquiries has made me refrain from suppressing any of these duplicate enquiries. I venture to think that " Canadian Banking Practice," as a work of reference, undoubtedly possesses value for bank officials. It affords information upon almost every conceivable point likely to arise in the course of dealings between banks and their customers, and in addition to the knowledge of usage and custom likely to be acquired by the student of its pages he will be given an appreciation of the general principles of the law governing banking and commercial transactions.
John T. P. Knight.