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Paymaster Corporation
Paymaster Corporation was a Chicago-based company that manufactured and sold the Paymaster mechanical check writers, which could be found at post office branches, financial institutions, and small businesses in North America throughout the twentieth century. History Background In the late nineteenth and early twentieth centuries, North American businesses were facing a growing problem of the skilled-alteration and outright forgery of their hand-written checks. Mechanical checkwriters work by protecting a check from unauthorized alteration of either the amount or the authorizing signature. They use several methods to do so. These methods may include any combination of: perforation (or 'punching'), embossing and debossing, and the imprint of hard to alter colored-ink filled fields being utilized on the financial instrument. Origins The company was founded by Chicagoan George M. Willis in 1917 as the Checkometer Sales Company, based out of the historic Manhattan Building in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago
Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of United States cities by population, third-most populous city in the United States after New York City and Los Angeles. As the county seat, seat of Cook County, Illinois, Cook County, the List of the most populous counties in the United States, second-most populous county in the U.S., Chicago is the center of the Chicago metropolitan area, often colloquially called "Chicagoland" and home to 9.6 million residents. Located on the shore of Lake Michigan, Chicago was incorporated as a city in 1837 near a Chicago Portage, portage between the Great Lakes and the Mississippi River, Mississippi River watershed. It grew rapidly in the mid-19th century. In 1871, the Great Chicago Fire destroyed several square miles and left more than 100,000 homeless, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Order
A money order is a directive to pay a pre-specified amount of money from prepaid funds, making it a more trusted method of payment than a cheque. History Systems similar to modern money orders can be traced back centuries. Paper documents known as "flying cash" were used in China from the 800s, while the Hawala practice of informal financial remittances through a widespread system of brokers can be traced to India in the 1300s and remains common in parts of Asia and Africa. The modern western money order system was established by a private firm in Great Britain in 1762, though due to high costs was not very successful. Around 1836 it was sold to another private firm which lowered the fees, significantly increasing the popularity and usage of the system. The Post Office (United Kingdom), Post Office noted the success and profitability, and it took over the system in 1838. Fees were further reduced and usage increased further, making the money order system reasonably profitable. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
License
A license (American English) or licence (Commonwealth English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. In the case of a license issued by a government, the license is obtained by applying for it. In the case of a private party, it is by a specific agreement, usually in writing (such as a lease or other contract). The simplest definition is "A license is a promise not to sue", because a license usually either permits the licensed party to engage in an illegal activity, and subject to prosecution, without the license (e.g. Fishing license, fishing, Driver's license, driving an automobile, or operating a Broadcast license, broadcast radio or television station), or it permits the licensed party to do something that would violate the rights of the licensing party (e.g. make copie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warranty
In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. In property law, it refers to a covenant by the grantor of a deed. In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured. In contract law, a warranty is a contractual assurance given, typically, by a seller to a buyer, for example confirming that the seller is the owner of the property being sold. A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract",Hogg M. (2011). ''Promises and Contract Law: Comparative Perspectives''p. 48 Cambridge University Press. and therefore only entitles the innocent party to damages if it is breached, i.e. if the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty. A warranty is not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings And Loan Association
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. While the terms "S&L" and "thrift" are mainly used in the United States, similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held (often called mutual savings banks), meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Checking Exchange
A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover immediate financial needs and are intended to be repaid on the borrower's next payday. The term "payday" in payday loan refers to when a borrower writes a postdated check to the lender for the payday salary, but receives part of that payday sum in immediate cash from the lender. However, in common parlance, the concept also applies regardless of whether repayment of loans is linked to a borrower's payday. The loans are also sometimes referred to as " cash advances", though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Legislation regarding payday loans varies widely between different countries, and in federal systems, between different states or provinces. To prevent usury (unreas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convenience Store
A convenience store, convenience shop, bakkal, bodega, corner store, corner shop, superette or mini-mart is a small retail store that stocks a range of everyday items such as convenience food, groceries, beverages, tobacco products, lottery tickets, over-the-counter drugs, toiletries, newspapers and magazines. In some jurisdictions, convenience stores (such as off-licences in the UK) are licensed to sell alcoholic drinks, although many other jurisdictions limit such beverages to those with relatively low alcohol content, like beer and wine. The stores may also offer money order and wire transfer services, along with the use of a fax machine or photocopier for a small per-copy cost. Some also sell tickets or recharge smart cards, e.g. Opus cards in Montreal, Canada, or include a small deli. They differ from general stores and village shops in that they are not in a rural location and are used as a convenient (hence their common name) supplement to larger stores. A con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Postal Service
The United States Postal Service (USPS), also known as the Post Office, U.S. Mail, or simply the Postal Service, is an independent agencies of the United States government, independent agency of the executive branch of the federal government of the United States, United States federal government responsible for providing mail, postal service in the United States, its insular areas and Compact of Free Association, associated states. It is one of a few government agencies Postal Clause, explicitly authorized by the Constitution of the United States. As of March 29, 2024, the USPS has 525,377 career employees and nearly 114,623 pre-career employees. The USPS has a monopoly on traditional Letter (message), letter delivery within the U.S. and operates under a Universal service, universal service obligation (USO), both of which are defined across a broad set of legal mandates, which obligate it to provide uniform price and quality across the entirety of its service area. The Post ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cashier's Check
A cashier's check (or cashier's cheque, cashier's order, official check; in Canada, the term ''bank draft'' is used, not to be confused with Banker%27s draft as used in the United States) is a check guaranteed by a bank, drawn on the bank's own funds and signed by a bank employee. Cashier's checks are treated as guaranteed funds because the bank, rather than the purchaser, is both the drawee and drawer and is responsible for paying the amount. They are commonly required for real estate and brokerage transactions. Genuine cashier's checks deposited into a bank account are usually cleared the next day. The customer can request "next-day availability" when depositing a cashier's check in person, with a special deposit slip. When cashier's checks took weeks to clear the banks, they were often forged in fraud schemes. The recipient of the check would deposit it in their account and withdraw funds under next-day availability, assuming it was legitimate. The bank might not be informed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the world's countries participated, with many nations mobilising all resources in pursuit of total war. Tanks in World War II, Tanks and Air warfare of World War II, aircraft played major roles, enabling the strategic bombing of cities and delivery of the Atomic bombings of Hiroshima and Nagasaki, first and only nuclear weapons ever used in war. World War II is the List of wars by death toll, deadliest conflict in history, causing World War II casualties, the death of 70 to 85 million people, more than half of whom were civilians. Millions died in genocides, including the Holocaust, and by massacres, starvation, and disease. After the Allied victory, Allied-occupied Germany, Germany, Allied-occupied Austria, Austria, Occupation of Japan, Japan, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Checkwriter
A checkwriter may refer to: Occupation A person who physically writes a check or cheque. The check writer is also known as the "payor", "signer", "maker", the drawer, or the "account holder". The signer or presenter of the check, or person who prints and authorizes the check. Machine A check writer (also known as a "ribbon writer", "check signer", "check protector" or "check embosser"), is a physical device for protecting a check from unauthorized alteration of either the amount or the authorizing signature. Devices of this type that use various technologies are also known as check protectors, check punches, and check perforators. A check punch punches holes in the shapes of numerals. A check perforator punches small round holes that form numerals. A check writer, or ribbon writer, leaves a numerical or written value impression in the payment amount field of a check that is very difficult to alter. This is accomplished by the machine applying downward force on the check and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
