OCR Text |
Show INNOVATION IN GERMANY. The war in Europe is responsible for a great many changes in the customs and habits of tho people, and business methods have been altered to suit the prevailing conditions. For instance, the Germans are now becoming accustomed to the use of paper money, whereas heretofore they have tenaciously (dung to the use of gobl in cash transactions., L'p to lhe time the great struggle commenced com-menced vast quantities of gold were in circulation t hronghout the empire, and to secure a small bill in payment of anything is said to have been an unusual un-usual event. The check system in Germany is but nine years old, and in the seven years before the war it failed to become popular and the entire chock transactions transac-tions were very inconsiderahle. To begin be-gin with, there was a stamp tax on every check. Only "bearer" checks could be drawn, payable to anybody who might present them, and who was not required even to identify himself. The banks assumed no responsibility. The checks were issued in a specified form and numbered by the bank. If any third person got possession of the check book and forged the depositor's name, the .bank, provided it had paid out the money on the forged check, was not liable to the depositor. These things have not been changed. Hut the municipal, state and imperial authorities throughout Germany are making earnest efforts to substitute payment by check for cash transactions. Measures are being taken to abolish or greatly reduce. tho fees heretofore charged for postal checks, and the payment pay-ment of taxes, bills for gas, water and electricity, and such items, by check or through the post-office, will be made easier. Although prejudice is very hard to overcome, it is expected all classes will soon be making payments by means of checks and that ultimately ultimate-ly a system somewhat like that used in this country will provail. But it will take time. Many business men and merchants of considerable standing in ; Germany have never used checks, and small tradesmen until very recently did not know what a check kvas until they saw. one. It is said that an American j who first paid his house rent with a check had to explain to the collector ; what a check was and what he must ! do to get the money on it, and the man went away shaking his head1 dubiously. du-biously. One can fancy the -feelings of the German who has always been paid in gold when he takes a check to the bank and the teller hands him out a roll of paper money. |