Clearing Out-of-Town Checks in England and the United States (Classic Reprint)
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| Partner: | buecher.de |
| Hersteller: | Forgotten Books (Hallock, James C.) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Clearing Out-of-Town Checks in England and the United States The success of clearing city checks is so unquestioned that the propriety of clearing out-of-town checks would perhaps be taken for granted, were it not that with a membership of three to sixty odd in city clearinghouses hundreds or thousands of banks have to be included in systems of country clearing. The difficulty of overcoming the inertia and securing the active cooperation of so many appears insuperable to the generality of practical bankers. It was always so. The origin of city clearing houses in America was due to the initiative and persistency of a man without banking experience; therefore, one chiefly impressed with the want of them, and unembarrassed by apprehensions of trouble arising from a new departure in bank routine. The same is true of the origination of American country clearing on a sufficient scale to be national in character, earlier systems being local, confined to limited areas, and, though interesting as well as instructive, of minor commercial importance. The first of these men was my father, James C. Hallock, Sr., who devised the plan of the New York Clearing House in 1853, a plan which was adopted and put into operation the same year. Hearing of what he did, a Rhode Island banker, in 1898, urged me to bring about the clearing of country checks. As a result of my instant and untiring devotion to the matter, the Boston Clearing House thirteen months later, in 1899, began to clear New England checks. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This 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.
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