The development of bills has several stages, including the periodof exchangers’ bills, the period of market bills and the period of circulatingsecurities. Its role has also experienced from the simple currency substitute tothe establishment and improvement of acceptance and guarantee system to thedevelopment of endorsement system until it has become a marketable securityintegrating payment, credit, financing and exchange in the period of currencycirculation. The non-causation of bills can effectively maintain the stability oftransactions, but there are still some problems in the development of the noncausationsystem of bills in our country to be further improved.