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It had, he believed, only a few weeks yet to run. Jasper or Madame Caumartin might get it discounted even by Lord -'s own banker; and if that were too bold, by any professional bill-broker, and all three be off before a suspicion could arise. But to get at that safe, a false key might be necessary. Poole suggested a waxen impression of the lock.
This is the exact reverse of the practice which Mr. Richardson described in 1810; then the lender relied wholly on the goodness of the bill, now, in these particular cases, he relies solely on the bill-broker, and does not take a bill in any shape. Nothing can be more natural or more inevitable than this change.
As long as it stayed unlent in the London Joint Stock Bank, it increased the balances of that bank at the Bank of England; but so soon as it was lent, say, to a bill-broker, it increased the bill-broker's balance; and as soon as it was employed by the bill-broker in the discount of bills, the owners of those bills paid it to their credit at their separate banks, and it augmented the balances of those bankers at the Bank of England.
"This is not discounting; I am paying myself for a sale," said the old man. Etienne and Lucien were still laughing at Chaboisseau, without understanding him, when they reached Dauriat's shop, and Etienne asked Gabusson to give them the name of a bill-broker. The friends took a cab by the hour, and went to the address.
The banker calls in his money from the bill-broker, ceases to re-discount for that broker, or borrows on securities, or sells securities; and in one or other of these ways he causes a new demand for money which can only at such times be met from the Bank of England. Every one else is in want too.
"But perhaps you can tell me where I could learn that." "His father is in our office still; no doubt he could tell you." Now, for obvious reasons, Helen did not like to go to the office; so she asked faintly if there was nobody else who could tell her. "I suppose the solicitor could." "But I don't know who was the solicitor," said Helen, with a sigh. "Hum!" said the merchant. "Try the bill-broker.
By the conditions of his trade, the bill-broker is forced to belong to a class of 'dependent money-dealers, as we may term them, that is, of dealers who do not keep their own reserve, and must, therefore, at every crisis of great difficulty revert to others.
The bill-broker who discounted the bills speedily discovered their fraudulent nature; but he knew that the money was safe. Lord Adolphus Vanlorme was a customer of the house of Dunbar and Dunbar; the bill-brokers knew that his acceptance was a forgery; but they knew also that the signature of the drawer, Henry Dunbar, was genuine. Messrs.
No man ever saw this knocker on the door of a small attorney or bill-broker; they always patronise the other lion; a heavy ferocious-looking fellow, with a countenance expressive of savage stupidity—a sort of grand master among the knockers, and a great favourite with the selfish and brutal.
In the trade of bill-broking, as it now exists, there is one great difficulty; the bill-broker has to pay interest for all the money which he receives. How this arose we have just seen. The present lender to the bill-broker at first always used to discount a bill, which is as much as saying that he was always a lender at interest.
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