Lot 12
Banking.- Early cheques.- Clayton & Morris, bankers. Group of 14 early cheques, and 16 other items relating to Clayton & Morris, 1660-1680 (30 pieces).
Estimate: £3,000 - 4,000
Description
Banking.- Early cheques.- Clayton & Morris, bankers. Group of 14 early cheques, and 16 other items relating to Clayton & Morris, including receipts, declarations, letters and memoranda, folds, repairs to 3 documents (with some loss of text), a few tears or holes, some staining, mostly lightly browned, v.s., 1660-1680 (30 pieces).
⁂ An important group of early cheques, the earliest of which (22nd November, 1660) pre-dates the earliest held in the collection of the Bank of England. Bills of exchange had previously been issued, but the cheque drawing on an individual's own funds to make an immediate payment was invented in England in the mid-seventeenth century. All the cheques here were written by Thomas Yates, Principal of Brasenose College, Oxford, from 1660 to 1681, the earliest being for PS100 to Clement Farnham. Clayton & Morris was founded by Robert Clayton (1629-1707) and John Morris (1625-82), who went into business together in 1658, and were the first bankers to use the mortgage as a long-term security for loans.
Provenance: 'Clayton MSS' (ink stamp).
Description
Banking.- Early cheques.- Clayton & Morris, bankers. Group of 14 early cheques, and 16 other items relating to Clayton & Morris, including receipts, declarations, letters and memoranda, folds, repairs to 3 documents (with some loss of text), a few tears or holes, some staining, mostly lightly browned, v.s., 1660-1680 (30 pieces).
⁂ An important group of early cheques, the earliest of which (22nd November, 1660) pre-dates the earliest held in the collection of the Bank of England. Bills of exchange had previously been issued, but the cheque drawing on an individual's own funds to make an immediate payment was invented in England in the mid-seventeenth century. All the cheques here were written by Thomas Yates, Principal of Brasenose College, Oxford, from 1660 to 1681, the earliest being for PS100 to Clement Farnham. Clayton & Morris was founded by Robert Clayton (1629-1707) and John Morris (1625-82), who went into business together in 1658, and were the first bankers to use the mortgage as a long-term security for loans.
Provenance: 'Clayton MSS' (ink stamp).
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