. The city of New York. -ance is struck and the sum is ascertainedwhich each bank must pay in or which mustbe paid to it to clear its account. By thissystem of paying differences it is prac-ticable to settle enormous accounts in away extremely simple and expeditious andinvolving the actual payment of amountswhich are comparatively small. Thus forthe year igi2 the average daily clearing(, the sum of the checks presented by allthe banks) were $319,050,407, while the av-erage daily balance, paid in cash, were$16,670,832, or per cent. The clerks representing the banks meetin the Clearing
. The city of New York. -ance is struck and the sum is ascertainedwhich each bank must pay in or which mustbe paid to it to clear its account. By thissystem of paying differences it is prac-ticable to settle enormous accounts in away extremely simple and expeditious andinvolving the actual payment of amountswhich are comparatively small. Thus forthe year igi2 the average daily clearing(, the sum of the checks presented by allthe banks) were $319,050,407, while the av-erage daily balance, paid in cash, were$16,670,832, or per cent. The clerks representing the banks meetin the Clearing House at ten oclock, andthe balances are ascertained by _ Abank which is a debtor to the ClearingHouse must pay its balance by of thesame day, either in cash or Clearing Housecertificates. Banks which are creditorsreceive checks for the balance due themthe same day. The Chamber of Commerce One of the noted buildings in New Yorkis a massive pile of white marble, in theRenaissance style, with decorations in205. A. Jaeckel & Co., Furriers, No. 384 5th AvenueShopping District. bronze. This is the home of New Yorksgreat Chamber of Commerce. Betweenthe columns are statues of AlexanderHamilton by Martini, De Witt Clinton by-French, and John Jay by Bitter, and abovethe entrance are groups symbolical ofCommerce. The vestibule admits to amonumental hall and broad stairway ofCaen stone. Admission is by card of amember. The Chamber is a magnificentapartment ninety feet long, sixty feet inwidth and thirty feet high. It is lightedthrough an enormous skylight in the ceil-ing; and the walls, unbroken to a height oftwenty feet, are hung with the Chamberslarge collection of portraits of New Yorkmerchants. _ The Chamber of Commerce,organized in 1768, is an association ofmerchants which concerns itself with ques-tions affecting domestic and foreign com-merce, the welfare of the city and nationalinterests. It has had large influence inthe development of the port of New Yorkand the citys
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