Front Page Titles (by Subject) Bank Agency System. - Money and the Mechanism of Exchange
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Bank Agency System. - 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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Bank Agency System.
Another important feature of the banking system is the extensive organization of agencies. A large bank has various business to be transacted in each of the principal commercial towns of the kingdom, and if it has no branches in these towns employs a banker in each town to act as its agent. This agent-bank collects cheques, bills, notes, etc., payable in the district, cashes drafts drawn against them, retires bills according to instructions, and does almost all that a branch bank would do, the main difference being that the remuneration for this work consists of a commission. Each agent-bank has a running account with its principal, so that to a certain extent each important bank and its agencies form a clearing system analogous to that of a head bank and its branches.