The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-03-18


People have but very imperfect idea OF
the extent of the business carried on in
Philadelphia and especially of the financial
business. They are accustomed to think Of
New York as The one great money centre,
and 10 ireat philadelphia transactions as
scarcely worthy Of consideration. We have
SO few banks aud the amount Of their capi
tai is so small as compared with thtse Of
New York, that il is not regarded as at all
important or Interesting that The extent Of
our financial operations should be inquired
into. Ii is very well, they say, that The busi.
ness Of New York Cleaung House shall be
reported; but il is Of very little consequence
lha: there should be any similar establish.
IheuShere. twill be news TO nearly every
one, not actually engaged in the Banks, that
there is and has been for some time in daily
operation, an arrangement corresponding in
some measure TO the New York Clearing
House. II is not established by law but
the Banks have made The arrangement fJr
their own convenience aud 10 enable them
better 10 serve the interests of The public.
Every morning, a: about hali-past eight
o'clock, depuia,ion of clerks from each of
the seventeen banks in the city arrives at III 9
Girard Bank. They repair to large room
in the upper story, where there is long ta-
bic, on which all have their particular posi-.
tions assigned them. Here they unpack Ger.
tain carpet bags, valises and wallets, and in
little while the table is covered with pack
ages Of bank notes, checks, and other repre>
seniaiives Of the circulating medium. These
are all the receipts Of each bank on The pre-
vious day, including noIes of the various city
banks, checks on other banks, with bill on
The back stating the aggregate amount re-
ceived by II. These packages are iaterchan-
ged, the money rec ounted and the balance
is struck. The sum received BY each bank,
in notes and checks Of every o,bef bank, is
thus accurately ascertained. This compre-
hends an immense amount OF work, but as il
is in skllIful and experienced hands and is
conducted in systematic manner, it goes
on very rapidly, and rarely occupies more
than half an houb the several deputalions
of The Banks then dispensing to their own
proper institutions. At half past eleven
o'clock, on each day clerk from each bank
arrives al the Grard Bank, TO adjust the bal
ances, ascertaned in the morning with spe-
Gle checks. II is thus asceriained which are
creditor banks, and checks are given and re-
.,aaisa d-aaAnsainnis,l-s .--------.--s J
During the half hour or more in the morn.
ing, while the clerks of all the banks are
busy at their work, the scene presented is
most animated one. Some forty or fifty
gentlemen are overhanling great bulky pack
ages OF notes and checks counting them of
with the rapidity that is only 10 be acquired
by long practice, calling out to one another
The sums OF lheir counnngs and calcuiations,
and passing 10 one another bundles of notes,
amounting sometimes to hundreds of thou
sands Of dollars. 1t is safe TO say that ihe
amount OF money passed in this way ranges,
in The course Of week, from forty to fifty
millions Of dollars. This, we apprehend, is
quite beyond The conceptions of most of our
readers. The system adopted for getting
Though with SO much work 10 so short q
time is an admirable one. 1t Is in view of
il, moreover, that The recent change in the
hour of opening tom 9 10 10 O'Clock, has
been adopted.-Pkild. Bulletin.