Traveller's Cheques
Like many inventions, traveller's cheques were invented because of a company's CEO's personal needs. The president of the American Express, James Fargo, went on a trip to Europe in 1890. He felt very insulted when he couldn't get his cheques encashed in any of the European banks. What it also meant was that American tourists will always have to face cash problems in Europe.
The task to solve this problem was given to an employee, Marcellus Berry. Berry reasoned that since a person's signature is the most distinctive way of identifying him, the device for drawing money in a strange place must carry the bearer's signature. Only a second matching signature would ensure the correct identity of the person. And so, in 1891, American Express introduced the traveller's cheques, and Marcellus Berry received four copyrights for his invention.
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