Saturday, 24 October 2009

Scottish Banking(part 6)

Scots Magazine, May 1756 (p.249)-

Two gentlemen from Edinburgh, with an agent,
etc., made considerable demands on the two
banks at Glasgow (Ship and Glasgow Arms)
 May 31 st and June 1st, 2nd, and 3rd.
 A protest was taken against the old bank (Ship),
that of Messrs. Dunlop,Houston,& Company,for non-
payment of £976 and £7000. Payment was offered of
the £976, in notes of the two banks of Edinburgh,but
refused and specie insisted for.

The gentlemen who demanded the £7000 were told
by the cashier that the Company’s notes were always
 paid at ordinary hours; but that so large a demand,
 after the ordinary time of doing business for the
forenoon was over-i.e.after twelve o’clock—-he did
not think proper,without previously advertising the
 Company, to pay till four o’clock afternoon ; and
they were desired to come back at that hour, when
 all the notes would be paid. Attendance was given
 at the banking office from~three o’clock afternoon
 till near five; and as the Edinburgh gentlemen
did not call as desired, an attorney was sent to their
lodgings. The principal person was gone out of town;
but the other, who was his agent or doer,was found on
the street,and required to repair to the banking office,
to receive payment of the sum demanded, the Com-
pany being always ready to pay their notes at proper
hours, in gold and silver, and Edinburgh bank-notes.

N .B .-The Edinburgh notes offered were those of the
Royal Bank, which were ''refused."

More to follow...........

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