690. BANKS, Deposit.—
Banks of deposit,
where cash should be lodged, and a paper
acknowledgment taken out as its representative,
entitled to a return of the cash on
demand, would be convenient for remittances,
traveling persons, &c. But, liable as its cash
would be to be plifered and robbed, and its
paper to be fraudulently reissued, or issued
without deposit, it would require skilful and
strict regulation. This would differ from the
bank of Amsterdam, in the circumstance that
the cash could be redeemed on returning the
note.—
To J. W. Eppes. Washington ed. vi, 247.
Ford ed., ix, 417.
(M.
Nov. 1813)
