Guarantee Associations, joint-stock companies on the insurance principle, which become security for the integrity of cashiers, travellers, and other employees, on payment of an annual sum calculated either upon the salary or upon the amount for which the association holds itself liable. The advantage of the system is that it obviates the necessity of requesting private friends to become sureties. See GUARANTY, and CAUTION.
Guarantee Associations
Chambers's Encyclopaedia, Volume 5: Friday to Humanitarians, p. 440
Source scan(s): p. 0455