The SOLICITOR-GENERAL--This objection appears to me to be so entirely
frivolous as hardly to be worthy of an answer. The note in question is
one issued by a very respectable banking company in Glasgow, and well
known in this country by the name of the Glasgow Arms Bank. Such notes
are commonly held to be bank-notes, and are so described in common
language every day. Many instances might likewise be given of their
being described in the same manner in criminal indictments, nor was it
ever before objected that the description was insufficient. We need not
go so far off as Lombard Street; there is no necessity for going
further than the Parliament Close, where thousands of these notes are
issued, known by no other name than that of bank-notes. The honourable
counsel on the other side of the table, as well as myself, have received
the greatest part of our fees in bank-notes of this kind, and both of us
would have reason to complain, I believe, if what we received in that
manner were not really bank-notes or considered as money.
The DEAN OF FACULTY--My Lords, the common use of language, as well as
the technical and legal description of the writing on the table, join in
supporting this objection. That there is a distinction in common phrase
between a bank-note and a banker’s note there can be no doubt. Every
private company which is instituted with a view to the purposes of
banking may indeed issue promissory notes, which meet with a voluntary
credit from the country; but these are distinguished from the public
banks instituted by the authority of Government, and where credit does
not depend upon the goodwill of any individual, as every man must accept
in payment their notes when tendered to him. These notes are alone
properly termed bank-notes as the notes of a bank which is a public
corporation, while the notes of a private company are termed banker’s
notes, or those of an individual. Although the one may, in common
discourse, be sometimes confounded with the other by those who are
ignorant of the real distinction, there is no doubt that that
distinction exists and is acknowledged by any one acquainted with the
subject; and where they are best acquainted with it there the
distinction is most explicitly acknowledged, as in Lombard Street, where
no other term is known for the note of a private banker than a banker’s
note. The inaccuracy of the description in the indictment is therefore
evident, and can by no means be defended by the vulgar error which
sometimes, I admit, is fallen into of confounding it with the note of a
public bank.
Public-domain text, read in full here on John Shaqi.
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