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An old-fashioned form of negotiable instrument — a fancy way of saying IOU really — where in lieu of paying something, a fellow issues a piece of paper with a promise to pay it at a later date. Used to some comic effect in Anthony Trollope’s amusing Victorian door-stop, The Way We Live Now:
- “When I.O.U.s have for some time passed freely in such a company as that now assembled the sudden introduction of a stranger is very disagreeable, particularly when that stranger intends to start for San Francisco on the following morning. If it could be arranged that the stranger should certainly lose, no doubt then he would be regarded as a godsend. Such strangers have ready money in their pockets, a portion of which would be felt to descend like a soft shower in a time of drought. When these dealings in unsecured paper have been going on for a considerable time real bank notes come to have a loveliness which they never possessed before. But should the stranger win, then there may arise complications incapable of any comfortable solution. In such a state of things some Herr Vossner must be called in, whose terms are apt to be ruinous. On this occasion things did not arrange themselves comfortably. From the very commencement Fisker won, and quite a budget of little papers fell into his possession, many of which were passed to him from the hands of Sir Felix, — bearing, however, a “G” intended to stand for Grasslough, or an “N” for Nidderdale, or a wonderful hieroglyphic which was known at the Beargarden to mean D. L ——, or Dolly Longestaffe, the fabricator of which was not present on the occasion. Then there was the M. G. of Miles Grendall, which was a species of paper peculiarly plentiful and very unattractive on these commercial occasions. Paul Montague hitherto had never given an I.O.U. at the Beargarden,—nor of late had our friend Sir Felix. On the present occasion Montague won, though not heavily. Sir Felix lost continually, and was almost the only loser. But Mr. Fisker won nearly all that was lost. He was to start for Liverpool by train at 8.30 a.m., and at 6 a.m. he counted up his bits of paper and found himself the winner of about £600. “I think that most of them came from you, Sir Felix,” he said,—handing the bundle across the table.”
- “I dare say they did, but they are all good against these other fellows.” Then Fisker, with most perfect good humour, extracted one from the mass which indicated Dolly Longestaffe’s indebtedness to the amount of £50. “That’s Longestaffe,” said Felix, “and I’ll change that of course.” Then out of his pocket-book he extracted other minute documents bearing that M. G. which was so little esteemed among them, — and so made up the sum. “You seem to have £150 from Grasslough, £145 from Nidderdale, and £322 10s. from Grendall,” said the baronet. Then Sir Felix got up as though he had paid his score. Fisker, with smiling good humour, arranged the little bits of paper before him and looked round upon the company.
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