Such a duty does not, however, rest upon the drawee with reference to the signature of the payee or the signatures of the indorsers, and the drawee, in general, who pays out money on a forged indorsement, may recover such money from the holder who has presented and received the proceeds of the paper. Figuers v. Fly, supra; People's Bank v. Franklin Bank, 12 S.W. 716, 88 Tenn. 299, 6 L.R.A., 724, 17 Am. St. Rep., 884; United States v. National Exchange Bank, 29 S.Ct., 665, 204 U.S. 302, 53 L. Ed, 1006, 16 Ann. Cas., 1184; and see cases collected in note, L.R.A., 1916E, 539. Up to this point, as we understand the briefs, there is no difference between the parties hereto as to the law.