Billbooks

Scope and Content

These books contain a record of bills of exchange [which rarely survive in archives], which were legally binding agreements to pay a sum of money at a future date, usually 2-6 months, but in the cotton industry in Manchester it could be up to 8 months. They provide information on intermediaries used by the concern to finance its business. This system allowed businessmen the opportunity to reinvest profits instead of having to use up scarce resources in stocks, thus facilitating the process of self-generated investment.