The Clearing House

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Excerpt from The Clearing House: Facts Covering the Origin, Developments, Functions, and Operations of the Clearing, House, and Explaining the Systems, Plans, and Methods Promulgated by the Clearing House Section of the American Bankers AssociationHis book is based on practical experience and is designed chie¿y for the purpose of conveying to the reader full and definite in formation regarding the origin, development, functions and operations of the Clearing House. Only a limited number of persons, including bankers, realize the important part that Clear ing Houses have played in the development of the United States.They have protected the finances of the gov ernment at times when the credit of the nation was imperilled. They are the machinery that saved thousands of business concerns from ruin during panics and financial depressions. Their influences for good have permeated every line of industry from coast to coast. They are the chief factors that brought about the reforms in the banking and currency laws and the improve ments in banking methods and practices, which in turn, have made the financial system of America equal to that of any nation.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.