Front Page Titles (by Subject) General Deposit Warrant. - Money and the Mechanism of Exchange
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General Deposit Warrant. - William Stanley Jevons, Money and the Mechanism of Exchange 
Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876).
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General Deposit Warrant.
We pass to the case in which the issuer of a promissory document engages to keep on hand goods exactly equivalent in quantity and quality to what are specified thereon, without taking note of individual parcels. In many cases commodities are so homogeneous that there seems to be no need to distinguish parcel from parcel, or to restore the identical portion deposited. Thus the keeper of a pig-iron store in Glasgow receives large quantities of pig iron, of several brands, and issues corresponding warrants representing ownership therein. As no difference, however, is known to exist between different portions of iron of the same brand, it was the practice in former years not to allot one heap of pigs to each warrant, but simply to retain a stock of each brand equal in weight to the aggregate amount due on outstanding warrants. More recently a better system has been introduced, and each specific lot of iron has been marked and set aside to meet some particular warrant. The difference seems to be slight, but it is really very important, as opening the way to a lax fulfilment of the contract. Misunderstandings occasionally arise upon this point in other trades. For instance, a cotton merchant in Liverpool, a few years since, obtained a loan of money upon the security of cotton in his possession, and a court of law was subsequently called upon to decide whether he had mortgaged certain individual bales of cotton, and undertaken to retain them until the loan was repaid, or whether he had merely engaged to have in his hands an equal quantity of cotton of the same quality. I have heard that carrying and warehousing companies are sometimes careless about distinction of parcel and parcel. If they are continually conveying or holding portions of exactly the same goods, flour from the same miller, coal from the same seam, they will sometimes deliver out the required quantity of the same sort of goods, irrespective of its being the identical portion delivered to them for conveyance or safe custody.