The first blow this industry received was the invention of sight draft, by which money could be transmitted.
When in New York a sight draft on London for 5000 sells for $24,150, in which direction are gold remittances likely to be moving?
The only chance of balancing it seemed to be by sight draft on Shamus' wagon or an entry of war.
If it is a sight draft—that is, a draft payable when A sees it—he may give cash for it at once and take the draft as his receipt.
The former is known as a time draft, while the latter is a sight draft.
I will most gladly draw a sight draft to-morrow, and pay your expenses back to that city, if you will only accept my offer.
What is the proper entry when a customer pays our sight draft?