Chang, Howard H.; Danilevsky, Marina; Evans, David S.; … - In: Explorations in Economic History 45 (2008) 4, pp. 445-461
On the basis of anecdotes centered on the alleged "circuitous routing of checks," researchers focusing on the pre-Fed check-clearing system have usually argued that it was inefficient. In this paper we study a 1910 check remittance register from the State National Bank of Bloomington,...
