post-note

Dictionary of American Words And Phrases by John Russell Bartlett.

In commerce, a bank-note intended to be transmitted to a distant place by mail, and made payable to order. In this it differs from a common bank-note, which is payable to bearer.--Webster.


Post-notes differ in other respects from bank-notes. The latter are payable on demand; the former are often drawn on time, with or without interest, sometimes six or twelve months after date. This species of currency was resorted to by many banks during the great commercial revulsions in 1836-7, and thereby contributed greatly to the expansion of credits which proved so disastrous to the country.

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