kite flying

Dictionary of American Words And Phrases by John Russell Bartlett.

An expression well known to mercantile men of limited means, or who are short of cash. It is a combination between two persons, neither of whom has any funds in bank, to exchange each other's checks, which may be deposited in lieu of money, taking good care to make their bank accounts good before their checks are presented for payment. Kite flying is also practised by mercantile houses or persons in different cities. A house in Boston draws on a house in New York at 60 days or more, and gets its bill discounted. The New York house, in return, meets its acceptance by re-drawing on the Boston house. Immerse sums of money are often raised in this manner--in fact, furnishing a capital for both houses to transact their business with.


Flying the kite is rather a perilous adventure, and subjects a man to a risk of detection. One who values his credit as a sound and fair dealer would by no means hazard it.--Perils of Pearl Street, p. 82.

Dictionary of American Words And Phrases by John Russell Bartlett.

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