Message:

<p>[QUOTE=&quot;urbanchemist, post: 696070, member: 13080&quot;]i just picked these 2 depression scrips up. they are both from 1933. they were printed by the american bank note company:thumb:</p><p>&nbsp;</p><p>1933 Chicago Clearing House Certificate $1 Depression Scrip </p><p>Series of March 8, 1933. No. TA-3974</p><p><img src="http://img.photobucket.com/albums/v210/urbanchemist/ccc3974.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><img src="http://img.photobucket.com/albums/v210/urbanchemist/ccc3974b.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p>&nbsp;</p><p>&nbsp;</p><p>1933 Chicago Clearing House Certificate $20 Depression Scrip </p><p>Series of March 8, 1933. No. E003802</p><p><img src="http://img.photobucket.com/albums/v210/urbanchemist/3802.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><img src="http://img.photobucket.com/albums/v210/urbanchemist/3802b.gif" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p><b>Exchanging Checks in Chicago – A Brief History </b></p><p>&nbsp;</p><p>The concept of a clearing house for banks to exchange drafts and credits dates back to 18th Century London where bank messengers decided among themselves to meet at a local pub to exchange their charges instead of running rounds. Although the method of exchange would end, the logic of central exchange remained. In Chicago, the need for a central exchange became evident during the 1860s. Chicago was emerging as a major financial center. Raw materials and agricultural products moved from west to east through Chicago, while finished goods and supplies went east to west. As the city prospered, so did the banks. Their interactions grew in complexity, making it difficult to settle their accounts with each other using messengers who delivered bundles of checks to the various banks. </p><p>&nbsp;</p><p>The Chicago Clearing House was established in 1865 to facilitate the exchange of drafts and credits among these banks. It provided a central location where messengers could participate in a general exchange with all member institutions at one time. Member banks used clearing certificates obtained from the Clearing House Association (instead of gold) and backed these certificates with funds held there. This practice eliminated the hazard of transporting gold through the streets of the city. </p><p>&nbsp;</p><p>The Chicago Clearing House also developed as a trade association to lend support to weaker banks and protect depositors&#039; funds during crises. Long before the U.S. government became a regulator of financial institutions, the Clearing House Association served that purpose. </p><p>&nbsp;</p><p>The Chicago Clearing House Check Exchange is now Check Services, Central Region of The Clearing House. It continues as the principal means of clearing checks in Chicago, and is an active proponent and processor of electronic payments. The Midwest ACH affiliate of CCHA is now part of the Electronic Payments Network (EPN). Bank forum and crisis management activities continue within The Clearing House Association.</p><p>&nbsp;</p><p><b>****INFORMATION FROM THE CLEARINGHOUSE.ORG****</b>[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in