Clearing house - rather modern establishment, the Edinburgh bankers demanding the credit of an

Clearing house - rather modern establishment, the Edinburgh bankers demanding the credit of an establishment first. The earliest clearing house which transactions we have any report, is a clearing house of London based approximately in 1775. Within completely seventy five years the London clearing house and that from Edinburgh were the unique organisations of the kind known to exist. Monetary and credit systems of the majority of the European countries concentrating round one great national bank, located for the capital of everyone, found in it means of realisation of commercial settlements. The New York clearing house has been established in 1853 from which are dated, the American system of a clearing house grew to huge proportions. Any country in the world does not have so big requirement of clearing houses, as in any country a banker"s check, so in general used in payment of usual accounts.
TRANSFER of CREDITS To CLEARING HOUSES