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Books Books 81 - 81 of 81 on Bank may discount notes, drafts, and bills of exchange arising out of actual commercial....  
" Bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial or commercial purposes, or the proceeds of which have been... "
A Modern History of New London County, Connecticut - Page 424
edited by - 1922
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Federal Reserve Bulletin, Volume 2

Federal Reserve banks - 1916
...of exchange eligible for rediscount at a Federal Reserve Bank, has determined that (a) It must be a note, draft, or bill of exchange the proceeds of which have been used or are to be used in producing, purchasing, carrying, or marketing goods' in one or more of the steps of the process...
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