Retrieved from “www.archive.org volume, from the stand-points of use and function. The word is also used in the sense of location or place. A clearing-house may be described as an office, established by the banks of a city, where their representatives meet daily, to exchange drafts and checks, and adjust balances. The term ” to clear ” is popularly defined ” to pass through the clearing-house.” Another definition is, ” to settle accounts by exchange of bills and checks, as is done in the clearing-house.” To clear a check means to pass it from the bank that holds it as a deposit or for collec- tion, to the bank on which it is drawn, and to receive pay- ment therefor; but, with

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