PREV ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V4 2001 INDEX       E-SYLUM ARCHIVE




The E-Sylum:  Volume 4, Number 45, November 4, 2001, Article 10

FEATURED WEB SITE    

  This week's featured web site is the New York Clearing House.    

  "The New York Clearing House is the nation's first and largest   
  bank clearing house. We continue to play a key role in   
  developing the U.S. banking system.   In 1853, we helped   
  simplify the chaotic exchange and settlement process among   
  the banks of New York City.    

  Before the Federal Reserve System was established in 1913,   
  the Clearing House stabilized currency fluctuations and carried   
  the monetary system through recurring times of panic.  Since   
  then, we have applied our organizational talent and   
  technological innovation to meet the demands of the rapidly   
  evolving payments industry and challenging regulatory   
  environment."      

  http://www.nych.org/hist.htm      

  http://www.nych.org/files/nych_hist.pdf    

  The second link is a three-page paper (in Adobe format)   
  outlining the history of the Clearing House, which mentions   
  clearing house certificates. These certificates were issued   
  during the financial panics of 1873, 1893 and 1907, and   
  functioned for a time as a circulating medium of exchange.   
  The article also states that clearing house certificates were   
  first used in the panic of 1857.  Are any such notes extant?         

  Wayne Homren, Editor

Google
 
coinbooks.org Web
The Numismatic Bibliomania Society is a non-profit organization 
promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor 
at this address: whomren@coinlibrary.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum
Copyright © 2005 The Numismatic Bibliomania Society.

PREV ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V4 2001 INDEX       E-SYLUM ARCHIVE


Copyright © 1998 - 2005 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.

NBS Home Page
Contact the NBS webmaster