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1908 National Bank Of Tasmania Wynyard Cheque
This next bank cheque in the Tasmania series is from the Wynyard branch of the The National Bank of Tasmania Limited.
It is in very nice condition overall given that its more than a century old.
Dated 30 April 1908 the cheque is for Six pounds, seven shillings and 10 pence. point of payment has been altered to the Stanley Branch as was so common between banks in those early years.
Early records show quite a few people by the Medwin name in that area of Tasmania.
Best bet is probably this one as he would have been 39 years old at the time the cheque was raised.
Medwin, Edwin Henry
Born December 16, 1869 Black River, Tasmania
Died November 15, 1931 Latrobe, Tasmania
It would appear to be money passing hands between two family members as the surname of the Bearer and the cheque signatory are the same, Medwin. Possibly it is a part of a round robin of cheques within the family. This method of raising credit limits and improving bank credibility was quite common in in the early 1900's.
In 1908 the population of Tasmania was less than 190,000 people. In 2006 Stanley had a population of 458 so it is safe to assume that in 1908 the population was a great deal smaller.
In this year Tasmania appointed an agent in India to encourage Anglo-Indians to immigrate and Immigration Bureaus are established in both Launceston and Hobart. Free rail passes are given to potential immigrants to allow them to inspect land and State school fees are abolished.
It was a time of growth and development state wide.
Round Robin tactics
This credit building strategy is one of the oldest techniques around. In general it used to be accomplished with secured savings accounts but in the modern world it can also be done far easier with secured credit cards.
If you take credit card number one which you have just obtained and get a cash advance of up to 70 percent of its limit, you then have the funds available to start borrowing and paying back.
all cards should be free of charge to open and not charge interest if paid back within 30 days.
Take out a second card and get a cash advance also for up to 70 percent of the limit then repeat this again with a third card.
You are now holding 3 cards with 70 percent cash advances against each.
Open a savings account or cheque account which is only used for the purpose of making payments on these 3 cards. Deposit all advanced cash in to this account.
Payback the full amount on card one and wait one week, then payback all of card two and wait one week and then finally all of card 3 and wait till month end.
At start of month draw down from cards 1,2 and 3 separate amounts and deposit to the payback account and then start the process again of paying back.
To this point it has cost you nothing but after several months of withdrawing and paying back you have 3 perfect payment credit cards and your credit rating will start to soar. Banks will begin after a while to increase your spending limits and the amounts offered for personal loans. After a year or two you will be amazed by what the banks will offer you.
Key to all is prompt payment in full every month. varying the amounts of the cash advance on each one is also a good idea.
Cheque Design in general incorporates these information fields as mandatory.
Name of the bank on which the cheque is drawn (drawee bank);
Name of the person to whom the amount is payable (Payee);
Amount in words;
Amount in figures;
Signature(s) of the person(s) (drawer) who issues the cheque; and
Details about the drawer.
Cheques from this era tend to be a litle larger than modern day cheques but this was true of the banknotes also.
While paper money evolved from promissory notes, another form of negotiable instrument, similar to cheques in that they were originally a written order to pay the given amount to whoever had it in their possession (the "bearer").