A trade acceptance saves the transmission of cash and enables the creditor not only to arrange the definite date of payment with the Commercial Banking and Credits debtor, but, if necessary, to secure the use of a sum practically the equivalent of the debt long before the debt is due in the ordinary course of business.

Ask for full information concerning this better method of financing sales of merchandise.

First National Bank In Brooklyn Broadway and Havemeyer Streets

Another form of letter used by the same bank to encourage the use of acceptances:

First National Bank In Brooklyn Dear Sir: -

At this time when every dollar of cash and credit counts in speeding up production the trade acceptance makes capital more effective.

Many of our customers have been bringing trade acceptances to us for discount which have been given by customers of theirs in payment of merchandise. They tell us that they find this method very satisfactory for themselves and for their customers.

We believe that in order to get all the advantages of trade acceptances their use should become general, but in order to accomplish this it necessarily becomes a give and take proposition.

Won't you therefore, when asked by your customers to give acceptances, kindly give them, for in so doing you will greatly encourage this up-to-date-method of financing business. Thanking you for your cooperation, we are,

Very respectfully,

(Signed) William S. Irish,

Vice-President.

Another form of publicity used by this bank follows:

First National Bank In Brooklyn Dear Sir: -

There are many advantages in the use of the trade acceptance, a specimen of which is enclosed herewith.

For example, suppose you are a wholesaler and in selling goods to a customer on credit, instead of charging the purchase against him on your books, it is agreed between you that you draw a bill on him for the proper amount, payable in 30, 60 or 90 days.

When "accepted" by the buyer (that is, when he signs his name in the blank provided for it across the end of the draft) the bill becomes a "trade acceptance" and may be discounted at your bank, which, if it is a member of the Federal Reserve System, may rediscount it with the Federal Reserve Bank.

Thus, an account that ordinarily would have to be carried on your ledger until maturity is converted into "commercial paper" which, in turn, may be converted into cash.

The First National Bank wants to assist all it can in the development of the trade acceptance plan at this time. We feel that it is not only a profitable method, but also a patriotic service for every business man to conduct his business transactions in such a manner as will keep his resources available for immediate use, when our country must employ all possible capital and credit.

We should be very glad to explain to you more fully just how trade acceptances will help you, whether you are a buyer or a seller.

Yours truly, (Signed) William S. Irish, Vice-President.