Retrieved from “www.archive.org money. Hence the courts of Pennsylvania decided that they should not be regarded as money. The imposi- tion of a tax upon them, therefore, would have been not only a serious blow to one of the most effective and in- genious contrivances for the deliverance of the country from the throes of panic that has yet been devised, but would also have been a direct violation of the spirit of the law. CHAPTER XI THE NEW YORK CLEARING-HOUSE Origin and Early History Formal …

Technorati Tags: #170, Clearing, House, LONCLEAR, LONDON