On the next page is reproduced an actual "Settling Clerk's Statement" of one of the Boston banks, showing an exact transcript of the bank's transactions with the Clearing-house on a certain day. Besides the interest attaching to it as a record of actual transactions, it will serve to make the subject clearer to those not familiar" with the details of Clearing-house business.

................NATIONAL Bank

Settling Clerk's Statement,........................1883.

A study of this statement will make apparent one of the great economies effected by the Clearing-house system, namely, the consolidation into one item of the accounts with all the banks. Thus, in the statement here presented, the forty-five debits are represented by the single total debit of $271,232.36, and the forty-eight credits by the total of $150,655.56, while instead of fifty mutual balances to adjust, the single item of $ 120,576.80 covers the whole.

The first column represents the first footing on the exchange slip, being the amount of clearing matter received up to the close of bank hours for the next day's clearings. The second column represents the total debit, after adding the checks or other paper received the next morning by mail or otherwise, in season for the day's exchanges. The blank for the Settling Clerk's statement is the same for all the banks. The blank used at Boston contains another column between the two debit columns, designed for "Additions," to show the exchange received each morning in season for the day's clearing. As this column is not needed, and is frequently not used, it is omitted in the form above given. The credit column is filled up at the Clearing-house with the amounts of the return exchange brought by the other banks. When the exchange slips are completed and footed, each slip is attached to the outside of the package of checks and vouchers which it represents, or the amount is marked on the outside of a sealed envelope containing them. The different packages are also arranged in the order in which they are to be delivered at the Clearing-house, and placed in a satchel or other enclosure to be carried thither. The entries in the Settling Clerk's Statement are carefully verified and footed, showing the bank's total debit against the other banks, and its credit, that is the amount with which it is credited, at the Clearing-house. This total is compared with the paying teller's footings, and if both agree, the correctness of the statement is so far proved. It is rare that an error occurs in the debit figures. The total debit is entered on another blank called a "Credit Ticket," as follows:

No. 61.                                      New York Clearing-house,

January 17, 1884.

Credit FOURTH NATIONAL BANK................$3,638,397.78.

J. Smith, Settling Clerk.

The amount of the exchange for each bank is also entered in another blank called a "Check Ticket," as follows:

I

t

No. 1.

Bank Of New York,

National Banking Association

From No. 61,

Fourth National Bank.

$268,265.50

A similar ticket is made up for each of the other banks, and is delivered to its settling clerk at the Clearing-house, by which to "check" the entries in the credit column of his statement, since every debit entry on one statement must, if the figures are correctly transcribed, correspond with a credit entry on some other statement. These check tickets may be made up and delivered by the settling clerks at the Clearing-house while the settlement is in progress.

A copy of the debit columns in the Settling Clerk's statement is made on another partly corresponding blank, with a space on the right for signatures, instead of the credit column. This is called the "Settling Clerk's Receipt," and is taken by the messenger who carries also the packages of checks or vouchers. The settling clerk carries his statement and the credit ticket. At all the larger Clearing-houses each bank is represented by these two clerks, the messenger or porter, and the settling clerk. At New York some of the banks have two settling clerks; the whole force of clerks employed by the sixty-four banks being one hundred and sixty.