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A clearing-house is merely a piece of machinery for the adjustment of differences between a host of debtors and creditors. The comparative cost of the German army and navy can only be figured properly against the income and expenditure of the total wealth of all Germany.
Then the great age began; and for the next couple of thirteen-decade periods Ireland was a really brilliant center of light and learning. Not by any means merely, or even chiefly, in theology; there was a wonderful quickening of mental energies, a real illumination. The age became, as we have seen, a sort of literary clearing-house for the whole Irish past.
Cally was glad to be with her cousins to-day. The simple and friendly atmosphere here was mightily comfortable. Never had they seemed so poor to her, never so fine and merry in their poverty. Her heart went out to them. They were all well now, the Cooneys, and the table was their clearing-house. There was much talk, of the new Works and other matters; great argument.
Thereafter the subject was dismissed, and in a short time almost forgotten. Captain Lee's object in visiting London was twofold. He went there primarily to attend the half-yearly general meeting of the Grand National Trunk Railway, and secondarily, to accompany his friend Edwin Gurwood to the Railway Clearing-House, in which establishment he had been fortunate enough to secure for him a situation.
Here was the Stock Exchange, where the scales of trade were held before the eyes of the country. Here was the clearing-house, where hundreds of millions of dollars were exchanged every day. Here were the great banks, the reservoirs into which the streams of the country's wealth were poured.
Bath was a clearing-house for the wit, learning and folly of all England the combined Hot Springs, Coney Island, Saratoga and Old Point Comfort of the Kingdom. The most costly church of its size in America is at Saint Augustine, Florida. The repentant ones patronize it in Lent; the rest of the year it is closed. At Bath there was the Octagon Chapel, which had the best pipe-organ in England.
This has been, from the first, the work of the International Labour Office, the fixed head-quarters of the Association, which serves as an exchange and clearing-house for all information pertinent to the Association's work.
Each individual waggon must be traced and accounted for to the Clearing-House, from its start to its arrival and back again; and not only waggons, but even the individual tarpaulins that cover them are watched and noted in this way, in order that the various companies over whose lines they pass may get their due, and that the companies owning them may get their demurrage if they be improperly detained on the way.
There is here lacking an amalgam, a reconciling power, what may be called a clearing-house of political forces, which shall draw into itself every thing, and shall balance and adjust every thing, and ascertaining the nett result, let it pass on freely for the fulfilment of the purposes of the great social union.
He wished that the old scholar could know how much better he had builded than he knew; could know what an exchange and clearing-house that group of homely buildings was for the human wealth of the State. And he wondered if in the old thoroughbred's heart was the comfort that his spirit would live on and on to help mould the lives of generations unborn, who might perhaps never hear his name.
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