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PREFACE.

In August, 1895, the Commissioners for the Promotion of Uniformity of Legislation in the United States caused to be prepared by Mr. John J. Crawford, of the New York bar, "a bill relating to commercial paper, based on the English statute on that subject, and on such other sources of information as may be deemed proper to consult.”

A draft of such a bill to be known as the Negotiable Instruments Law was presented to the Commissioners in August, 1896, was examined by them, section by section during the three days of their session, and adopted as a whole.

The English Bills of Exchange Act, on which the Negotiable Instruments Law was based, had been adopted in 1882 and had in its preparation involved “the work of more than one hundred trained lawyers, the co-operation of the mercantile community for years in its evolution, and its critical consideration by both Houses of Parliament.” The Negotiable Instruments Law in this country "has had the criticism of lawyers in the Commissioners from thirty-two States, who had it in consideration for more than a year during its preparation, and of leading text-writers and teachers on the subject of bills and notes.” The American Bankers' Association, through its Committee on Uniform Laws,

16 Yale Law Journal, 132. 2 Yale Law Journal, January, 1901.

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