Sayfa 822 / 2651

At other times A would enable to discharge the first bill of

exchange, by drawing, a few days before it became due, a second

bill at two months date, not upon B, but upon some third person,

C, for example, in London. This other bill was made payable to

the order of B, who, upon its being accepted by C, discounted it

with some banker in London; and A enabled C to discharge it, by

drawing, a few day's before it became due, a third bill likewise

at two months date, sometimes upon his first correspondent B, and

sometimes upon some fourth or fifth person, D or E, for example.

This third bill was made payable to the order of C, who, as soon

as it was accepted, discounted it in the same manner with some

banker in London. Such operations being repeated at least six

times in the year, and being loaded with a commission of at least

one half per cent. upon each repetition, together with the legal

interest of five per cent.