EXCHANGE ON CHEQUES.
TO THH KIHTOIi. Sir,—l have baen much struck since my arrival in this colony liy the imposition of the banks in charging such excessive exchange on cheques and bills. One would think that the rate of interest they charge for discount and overdraft ought to amply repay them without charging their customers snlliciont exchange to pay the salaries of their officers. I n Victoria and Xew South Wales the bulks charge sufficient exchange to covcr the postage only ; and in many places where they are in regular communication with the place whore the cheque is payable they do not make any charge whatever. Here the batiks charge one-eighth per cent. 011 the amount of tlifl cheque, and the public apparently endure it without a murmur, instead of combining anil protesting against a practice which ought to be abolished.— 1 am, etc. •J.IJ.P.M.
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Waikato Times, Volume XXXVII, Issue 3015, 10 November 1891, Page 2
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145EXCHANGE ON CHEQUES. Waikato Times, Volume XXXVII, Issue 3015, 10 November 1891, Page 2
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