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Updated: June 1, 2025
In addition to the expenditures of this imperial clearing-house called the German Empire, there was spent by the states $1,467,325,000: the so-called clearinghouse bearing the whole burden of expenses for army and navy, the separate states nothing except the per capita tax, called the matriculation tax, of some 80 pfennigs.
In black and white she had asked George to go to London and see Geoffrey and arrange for the passage through himself as a sort of clearing-house of letters between Geoffrey and herself.
The operations of the Clearing-House are described in detail, and illustrated by a financial Chart, which exhibits, in an interesting manner, the fluctuations of the Bank Loans.
All the most important transactions in the country are settled by cheques; these cheques are paid in to the 'clearing-house, and the balances resulting from them are settled by transfers from the account of one banker to another at the Bank of England. Payments out of the bankers' balances, therefore, correspond with payments in.
No nurse, in her senses, would travel with a diamond ring tied up in a brown paper parcel the size of her head." We may remind the reader here that, when the brown paper parcel was found and carried to the lost-luggage office of one of our western railways, a note of its valuable contents was sent to the Clearing-House in London. This was recorded in a book.
Railroads had been built to the South, East, North, and West. There was as yet no stock-ticker and no telephone, and the clearing-house had only recently been thought of in New York, and had not yet been introduced in Philadelphia.
We put their clothes in bags for future disinfecting, and the men, mildly perplexed, were bathed, shaved, and sent to the "clearing-house," as it was called. Those who developed typhus went to the barracks, and the rest were drafted to the various hospitals in the village. The clothes were first sulphurized to kill the lice, and then, until Dr. Boyle's disinfector appeared, boiled.
They are only able to keep those deposits at the Bank by the aid of the Clearing-house system, and if a panic were to pass a certain height, that system, which rests on confidence, would be destroyed by terror. The common course of business is this. A B having to receive 50,000 l. from C D takes C D's cheque on a banker crossed, as it is called, and, therefore, only payable to another banker.
The immediate and exact cause of the Panic of 1857 is clearly demonstrated by the records of the Clearing-House, and a scale is presented by which the deviation of the volume of Bank Loans from an average standard of safety can be ascertained at a single glance. History of the State of Rhode Island and Providence Plantations. By Samuel Greene Arnold. Vol.
Yet, as everybody knows, in moments of financial panic, the handful of financiers who, directly or indirectly, govern the Clearing-House, have it in their power either to expand or to contract the currency, by issuing or by withdrawing Clearing-House certificates, more effectually perhaps than if they controlled the Treasury of the United States.
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