The second “total” column of our form is for creditor results, or, as bankers incorrectly call them, creditor decimals, the left-hand column being, of course, the debtor, and the right the creditor, just as though they were left-and right-hand pages of a cash-book. Having ascertained the number of days from date to date, we add them up, and next proceed to balance them. From 31st December, 1902, exclusive, to 30th June following, inclusive, there are 181 days, and, as those are the figures in our days’ column, we know that they are correct. Next we add up the “total” columns, and here great care is necessary, because it is impossible to balance the figures. Dealing with the debit total first, we find that John Jones owes his banker one day’s interest at 4 per cent. per annum upon £37,422. Hence:-- (37,422 × 4 × 1)/(100 × 365) = £4 2s. But Mr. Jones will make these figures £35,154, and the answer £3 17s. 1d., and upon asking for an explanation he will be told that he has been charged three days’ interest upon the cheques he paid to his credit during the half-year. The banker argues that his client receives credit for the cheques he pays in immediately, whereas he himself has to collect them through the “clearing,” and does not receive the money for two or three days. The argument is somewhat fallacious as to the length of time, but we need not discuss that minutely. Mr. Jones points out that he pays in cash and local cheques as well as cheques upon London and country bankers, and that, therefore, he cannot understand why the manager charges him three days’ interest upon the total sum paid to his credit during the half-year. He will, of course, decline to submit to this charge, and request the manager to refund him 4s. 11d. (three days’ interest upon £756 at 4 per cent. per annum). With reference to the rate, the average Bank rate from 31st December to 30th June works out at £3 17s. 1d. While his account was overdrawn, however, the official minimum was at 4 the whole time, so the rate is a fair one, but this question has already been discussed in the previous chapter. His banker owes him 1½ per cent. per annum upon his creditor balances, which are multiplied by the days and extended in our second “total” column. He has, therefore, to receive 1½ per cent. per annum upon £3,891 for one day. Hence:-- (3,891 × 1½ × 1)/(100 × 365) = 3s. 2d. As this is the sum debited in the pass-book, Mr. Jones’ mind is at rest _à propos_ of the correctness of the figures; but it will probably occur to him that the rate might be improved, for the fact that one is borrowing at 4 and lending at 1½ is not conducive to harmonious thinking. Next, he checks the commission on his turn-over, which he makes £117. He pays ⅛ per cent., of course, upon the amount of the cheques credited in his pass-book during the half-year, and these come to the sum aforesaid. Hence:-- (117 × 1)/(100 × 8) = 2s. 11d.