Commercial paper

Definition and stakes

William Amasa Scott,  Banking

“ In this popular usage these documents are called commercial paper because they are themselves objects of commerce. In our use of the term the adjective "commercial" applies to them only when they play the rôle of intermediary in a process of exchange through credit. In this sense it is a matter of indifference whether they pass through the hands of brokers or not, and the fact of their being objects of purchase and sale does not confer the quality of commercial paper upon documents having an origin and character other than that above described. ”
Source: Gutenberg

Frank O. Butler,  The Story of Paper-making

“ An increase of such phenomenal proportions as indicated by these figures makes tremendous demands upon allied and tributary industries, but the increase in the production of paper of the variety required has been sufficient to meet these demands. These conditions, however, affect only125 one branch of the industry. The increase in the publication of books, together with the multiplicity of commercial and industrial uses to which paper may be put, as briefly outlined in the preceding chapter, explain an expansion that would otherwise be inexplicable. ”
Source: Gutenberg

Edward Douglass White,  De Jonge v. Magone — Opinion of the Court

“ It is not reasonable to suppose that congress assumed that the manipulation or treatment of particular paper, in the completed condition in which produced at a paper mill, by mere surface coating,-a process which did not change its form, but only increased the uses to which such paper might be put,-had the result to cause the article to cease to be paper and to become a manufacture of paper, especially in view of the continued commercial designation of the article as a variety of paper, and its sale and purchase in commerce as paper. ”
Source: Wikisource

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