[rescue] random babble

[Chad Fernandez]

Tim H. wrote:
> On Sun, 01 Sep 2002 14:25:50 -0400
> Chad Fernandez <fernande at internet1.net> wrote:
> 
> 
>>But that is not good.  With a check you have some protection if it is 
>>lost or stolen.  It's designed to be cashed by a particular person or 
>>organization.  The English/Israeli system does not allow for that 
>>protection.  For instance sending you rebate chack through the mail 
>>would be like sending cash.... if's lost, it's lost, the money is
>>gone!
>>
>>Chad Fernandez
>>Michigan, USA
> 
> 
> When checks were invented they were as good as cash, and often traded as
> such.  They were often not even paid by a bank, but basically said John
> Doe says he has $X.xx for the bearer of this check, and it would
> circulate around based on John Does reputation until somebody actually
> cashed it with him.  Really, why is that worse than cash? 

Nowdays checks are a little safer than cash for transfering money. 
However the English/Israeli system of doing it bypasses the added 
safety.  I'm not saying that is worse than cash (unless someone got a 
hold of a blank check), but cash isn't the best way for exchangeing 
money as the amounts go up.  It's simply too vulnerable.  It does have 
the benifit of not not bouncing, of course :-)

Chad Fernandez
Michigan, USA