A LETTER of Credit is one in which the writer's character or reputation procures or entitles trust to be given to another for a certain amount within a given time, promising to be responsible for same if the person receiving credit fails to make payment.

It closely resembles a letter of introduction,—in fact the two are often combined—that is, a letter of introduction often contains a clause asking that credit be given if the bearer desires it. The signature of the person receiving the credit should be appended at the lower left-hand side, so that he may be identified as the person named in the letter.

Letters of credit should contain the amount of money to be advanced, and the name of the person in whose favor they are granted, the receipt or voucher to be taken for it, and how it is to be reimbursed.

A Letter of Credit.

JACKSON, MICH., March 1, 1884.

MESSRS. CHARLES SCRIBNER'S SONS,

New York.

Gentlemen:—Please allow Mr. D. C. Levison a credit for such selections as he may make, to so amount not exceeding one thousand dollars ($1,000), for sixty days. We will become responsible to you for the payment of the same should Mr. Levison neglect to do so at the proper time.

Be kind enough to inform me of the amount for which you give him credit, with date it becomes due; also, in default of payment, forward notice immediately.

I remain, yours very truly,

F. M. TABOR.

Mr. Levison's signature.

D. C. LEVISON.

Letter of Introduction and Credit.

New York, Sept 30, 1879.

MESSRS. G. H. GARCIA & CO.,

Havana, Cuba.

Gentlemen:—I beg leave to introduce to you the bearer, Mr. T. M. Long, of the firm of Long Bros. & Co., this city. He is visiting Cuba for the purpose of purchasing fruits for canning, and although not expecting to be in want of funds, should such an exigency arise we will thank you to accommodate him on our account, to the extent of two or three thousand dollars ($2,000 or $3,000), drawing upon us at short sight for your advances. We append Mr. L.'s signature.

We are yours respectfully,

MINSELL & OSBORNE.

Mr. Long's signature.

T. M. LONG.

CHICAGO, March 6, 1884.

MESSRS. JOHN POPE & SON,

New Orleans.

Gentlemen:—I take the liberty of opening a credit with you in favor of the bearer, Mr. W. W. Stone. Any sum of money that this gentleman may require to the extent of $6,000, be pleased to advance on my account, either against his receipt or his draft on me, to your order, as may be most agreeable to yourselves.

I am, gentlemen,

Your obedient servant,

S. W. LANE.

Mr. Stone's signature.

W. W. STONE.

LONDON, ENG., Jan, 16, 1880.

MESSRS. BROWN BROS.,

New York.

Gentlemen:—We request the favor of your furnishing the bearer, Sir John Russell, with any cash that his lordship may require during his stay in the United States, to the extent of $10,000, taking his lordship's receipt for the sums advanced, and placing the same to our debit.

We refer you to our letter of this date, per steamship “Bothnia,” for his lordship's signature, and remain, gentlemen,

Respectfully yours,

HARDY & COX.

LOUISVILLE, KY., Oct 28, 1883.

MR. GEORGE SYMONS,

Philadelphia.

Sir:—Permit me to introduce to your acquaintance the bearer of this letter, Mr. John Phillips, who proceeds to Philadelphia on his way to England.

Should Mr. Phillips desire to take up cash for the payment of his passage, etc., you will please advance him any sum not exceeding $500, taking his draft at three days' sight on his house here, Messrs. Richards, Phillips & Co., in reimbursement.

I shall feel greatly obliged by such marks of civility and attention as you may have it in your power to show my young friend, whom you will find highly deserving of your regards.

I am, sir,

Yours respectfully,

H. MILES.

Mr. Phillips' signature.

JOHN PHILLIPS.