The fluctuation in the amount of clearings shows the effect of the "panic" to a remarkable extent. The amount of paper credits to be exchanged increased very rapidly until the close of 1857, and the Clearing house year ended in the midst of the panic, almost at the date of the suspension. The following shows a decline of one-half in the clearings, but singularly but little decline in the "balances." In the past year a marked recovery has taken place. The following is a description of the mode of transacting the business, prepared by LEWIS LYMAN, Esq., for the information of the banks of a neighboring city on their adoption of the same system of clearing :—

At the hour of 10 A. M. all the bank members of the association, forty eight in number, are represented at the Clearing-house by two clerks-one a settling clerk, the other a specie clerk or porter. The settling clerks bring with them their statement, which shows first the amount of the receipts of the bank which they represent up to the close of the business of the previous day: secondly, the amount which has been added from the morning remittance; and lastly the total amount which they bring to the Clearing-house for exchange-being the amount of the first two items united. They also bring a ticket which informs us of the amount sent in by the bank which they represent, and which amount we credit them with. Their statement has, as you will see, a column in which the amounts to be received are to be entered. The specie clerk or porter of each bank brings with him a statement of the amount which the bank he represents sends in against each of the other banks; and he also brings the money, made up in parcels, with a slip upon the top stating the amount of each item of exchange, and the total or footing of the whole sum to be delivered to each bank. His statement has a bank column headed "received by." At 10 o'clock all the clerks are called to their places, the settling clerks upon the inside of the counter, which is built in the form of an oval, and the porters upon the outside, all the banks being arranged numerically, in the order of age, upon the counter, and each assigned a space which is divided off, and separates them from each other. The porters bring their money so arranged that the top exchange is the one for the bank next them on the right, and the last exchange the one for the bank next to their position on the left. At a signal from the manager each porter at the hour of ten precisely moves to the right, delivering to the first bank next on his right the exchange which he has for them, and receiving the receipts of their settling clerk for it, who is careful to see that the exchange he receives agrees with the amount stated on the statement of the porter of the bank from whom he receives it; and thus the porters proceed until they have made the circuit of the room, and delivered to each bank the exchange they brought against them, and received their receipts therefor, which brings them back to the point of starting (their own desk) with all their exchanges delivered and receipted for. This is done by us in five minutes. The exchanges for each bank are thus brought into the hands of their settling clerk, who proceeds to enter them to the credit of each bank, after which he calls them back with his porter, and then foots his receipts, ascertaining the amount which he has received, and the result of the exchange, which either makes his bank debtor to or creditor with the Clearing-house. The porter then returns home with his receipts, carrying the information of the result of the exchange to his principal, who know by 101 o'clock A. M. their position for the day, either as debtor or creditor bank. The settling clerk then prepares a ticket for the Clearing house, which states the amount he brought, and his balance either as a debtor or a creditor. From these tickets and those before named as being brought by the settling clerks when they come to the Clearinghouse, the entries upon the Clearing-house proof are made, and at 10 o'clock A. M. the result announced. Among so many clerks it of course seldom happens that a proof is made at the first announcement, some errors being almost sure to be made. For the detection of these errors the small check tickets are used. You will notice that the proof is based upon the settling clerks' statements, and that it is assumed that the amounts stated upon them are correct.

You will also perceive that two amounts upon the statement of each settling clerk must be found upon the statement of every other bank belonging to the association, so that in order to assure their agreement it is required of each settling clerk that he shall make out a set of tickets from his statement, stating the amount which by it he has sent against every other bank. After delivering these tickets he proceeds to check those which he has received, and by them reconciles the entry which he had made; and if the proof is not thus made, the difference must be in footing, which is found by directing the clerks to exchange statements, and to examine each other's footings. This of course detects the errors.

A system of fines is connected with the system, forty-five minutes being allowed for a proof, all errors found after that time being fined and reported to their banks. This insures care upon their part, and we usually make the proof within the time allowed. Connected with the Clearing-house is a bank selected for a deposit bank-the Bank of America acting for the association in that capacity. In this bank any bank deposits such an amount of coin as it may see fit, taking from them a certificate of deposit in amounts of $500, $1,000, $5,000, and $10.000, certifying that they have received and hold such amounts as a special deposit, payable to the order of any of the associated banks, and that they hold such amounts in trust as a special deposit. The Bank of America now holds in this way $6,500,000. These certificates are used in the settlement of balances. At one o'clock all the banks which are debtor come to the Clearing-house and pay in these certificates, and in bills and change, sums less than $500, the balance against them. At 14, the debtor banks having paid their balances and taken a receipt for them, the creditor banks, by their porters, receive the bal ances due them, giving a receipt therefor, and at two o'clock the settlement is made. This is a brief description of the business of each day. The direct results of the above are as follows, viz. :—

The bringing of forty-eight balances into one, and the settlement of such balances; the saving of a vast number of entries and postings, and of much time and labor for cashiers, tellers, and porters; the perfect independence of all banks of each other, and the facilities afforded by the accounts of the Clearing-house for estimating the standing and management of all other banks belonging to the association; the transportation of specie in the payment of balances, and many other benefits of the same character. The indirect benefits are fully equal to the direct; but as they will suggest themselves to you I will not speak of them. It is sufficient to say that the system is perfectly satisfactory to the banks of this city, and that it tends to promote sound banking, and that its success here has been perfect, and is as satisfactory to the banks as to the public.

STATISTICS OF WASHINGTON.

We are again indebted, says the National Intelligencer, to our venerable friend, JOHN SESSFORD, for his annual statement of the progress of improvement in the city of Washington :-

EXHIBIT OF IMPROVEMENTS IN WASHINGTON CITY IN THE YEAR 1859.

An increase on former assessment of .

On the above assessment is a tax of 60 cents on each $100.

$11,414,814

CITY WEEKLY BANK RETURNS.

NEW YORK BANK RETURNS.- —(CAPITAL, JAN., 1860, $69,333,632; 1859, $68,050,755.)

19

26

122,958,928 22,132,275 8,391,116

Average Actual Loans. Specie. Circulation. Deposits. clearings. deposits. Jan. 8 128,538,642 28,399,818 7,930,292 113,800,885 20,974,263 92,826,622 15 129,349,245 29,380,712 7,586,163 116,054,328 20,598,005 95,456,328 22 129,540,050 29,472,056 7,457,245 116,016,828 20,950,428 95,066,400 29 129,663,249 27,725,290 7,483,642 113,012,564 19,174,629 93,837,935 Feb. 5 130,442,176 25,991,441 7,950,855 114,678,173 22,712,917 91,965,256 12 129,106,318 25,419,088 7,872,441 109,907,424 20,560,606 89,346,818 19 127,476,495 26,344,955 7,766,858 108,937,564 19,911,207 89,026,357 26 125,866,083 26,470,171 7,736,982 109,000,892 19,785,055 88,215,837 Mar. 5 125,221,627 26,769,965 8,071,693 108,646,823 22,626,795 86,800,028 12 126,205,261 25,530,054 8,100,021 107,458,392 21,270,283 86,188,109 127,587,943 25,043,183 7,996,713 108,353,336 21,911,543 86,441,793 127,751,225 25,182,627 7,998,098 106,581,128 20,237,879 86,343,249 Apr. 2 128,702,192 25,732,161 8,221,753 110,176,088 22,438,950 87,737.138 9 129,865,752 25,748,667 8,449,401 111,692,509 23,549,945 88,142,544 16 129,968,924 25,478,108 8.293,459 111,695.711 23,607,914 88,087,797 23 129,192,807 26,068,155 8,289,112 112,627,270 23,671,453 88,955,814 80 128,706,705 26,329,805 8,300.672 113,217,504 23,655,166 89,562,338 May 7 129,519,905 26,086.632 8,804,032 115,586,810 26,714,767 88,872,043 14 129,680,408 25,171,335 8,490,933 113,141,178 24.445.039 88,696,639 21 128,701,553 26,090,008 8,352,723 112,731,646 24,177,516 88,554,130 28 127,137,650 24,319,822 8,232,653 107,064,005 21,501,650 85,562,355 June 4 125,006,766 23,728,311 8,427,642 103,207,002 20.628,166 82,578,836 11 99,042,966 20,159,422 78,883,536 99,170,335 20,042,856 79,127,979 97,353,393 19,160,278 77,193,115 98,920,313 20,787,701 78,132,612 98,090,655 21,077,643 77,013,012 97,257,070 19,121,159 78,136,911 94,416,054 19,114,111 75,301,943 91,707,877 17,232,982 74,474,895 91,891,234 19,366,379 72,524,855 88,975,864 17,443,211 71,532,353 91,248,799 18,038,889 73,209,910 89,471,646 17,679,829 71,791,817 93,250.438 20,094,729 73,155,709 92,732,824 20,095,939 72,636,895 94,002,721 20,855,822 73,147,899 93,460,800 91 823,441 21,011,336 70,812,105 92,550,175 23,048,968 69,501,307 91,921,699 21.830.679 70,091,020 93,544,951 21,977,883 71,567,068 95,245,331 22,162,150 73,083,181 96,900,567 23,226,669 73,673,898 12 121,206,352 20,186,956 8,443.555 97,657,512 22,977,321 76,680,191 19 121,520,636 19,743,371 8,283,520 96,913,346 22,239,807 26 121,425,163 18,831,924 8,271,278 97,080,059 23,517,886 Dec. 3 122,137,034 20,046,667 8,398,819 100,449,079 24,190, 59 10 122,925,408 19,750,535 8,481,486 99,524,768 22,953,281 17 122,903,577 20,420,839 8,393,026 98,996,569 21,710,094 24 124,958,512 19,630,797 8,321,374 99,149,872 21,871,115 77,278,757 31 125,516,046 19,629,220 8,386,977 100,937.404 22,553,920 78,283,484 Jan. 7 124,597,663 17,863,734 8,539,063 97,493,709 22,684,854 74,808,855 123,582,414 18,740,866 8,090,548 99,247,743 23,363,980 75,883,763 123,845,931 19,233,194 7,880,865 99,644,128 22,813,547 76,830,581

18 121.800,195 23,192.217 8,281,111 25 121,744,449 21,759,881 8,216,043 July 2 122,401,773 22.491,665 8,365,790 9 121,614,633 22,494,649 8,553,061 16 120,405,658 23,323,679 8,201,675 23 119,934,160 21,196,912 8,170,626 30 119,347,412 20,764,564 8,214,959 Aug. 6 118,988,059 20,083,877 8,623,050

13 117,757,141 20,744,532 8,419,606 20 117,990,199 21,403,448 8,317,669 27 117,541,070 20,728,066 8,234,279 Sept. 3 118,184,258 21,478,299 8,373,318

10 118,421,430 21,767,248 8,513,062 17 119,366,352 21,512,680 8,444,766 24 119,387,320 20,660,436 8,357,206 Oct. 1 118,208,752 19,259,126 8,337,702 8 117,211,627 19,493,144 8,585,739 15 117,289,067 19,651,293 8,463,816 22 117,317,499 20,907,097 8,411,218 29 118,414,428 21,248,975 8,276,404 Nov. 5 120,118,037 20,228,342 8,627,421

14

21

20,729,701 72,730,599

74,673,539

73,562,173

76,258,722

76,571,427

77,286,475

BOSTON BANKS.- -(CAPITAL, JAN., 1859. $35,125,433; 1860, $35,931,700.)

Due
Loans.
Specie. Circulation. Deposits. to banks.
Jan. 3.. 60,069,424 8,548,934 6,543,184 22,357,838 10,789,185
10.. 60,310,965 8,295,392 7,016,104 21,615,468 11,263,766

Due from banks.

7,083,737 7,137,234

17.

24

31 Feb. 7

14.. 21

28.. Mar. 7 14

21.. 28 ..

Loans. Specie. Circulation. Deposits. 60,106,798 7,931,712 6,793,723 21,127,712 59,400,354 7,383,391 6,609,374 20,727,905 58,992,556 7,088,736 6,224,137 20,598,451 59,120,142 6,814,589 6,514,576 20,845,520 59,087,249 6,671,619 6,332,342 19,983,531 59,099,993 6,679,740 6,275,458 20,082,960 58,636,328 6,410,563 6,283,959 19,469,489 58,892,981 6,386,580 6,578,472 19,935,649 58,436,379 6,265,661 6,372,298 19,202,029 58,152,742 6,238,518 6,227,150 19,809,807 57,672,804 6,370,283 6,108,505 19,908,785 58,031,003 6,401,822 6,386,853 20,899,191 58,320,346 6,488,147 7,358,859 21,422,531 58,496,225 6,496,137 6,985,273 21,666,840 58,160,215 6,726,647 6,812,855 21.663,615 58,178,264 6,910,187 6,658,260 21,990,246 58,211,765 6,907,557 7,241,597 21,852,338 58,445,596 6,851,787 7,064,757 21,466,499 57,996,456 6,700,975 7,013,197 20,845,917 30 .. 57,318,243 6,874,399 6,664,483 20,769,103 June 6.. 57,430,695 6,738,384 7,009,878 20,718,977 13.. 57,972,199 6,672,767 6,863,659 20,118,426 20 58,203,731 6,453,596 7,082,781 20,229,249

Apr. 4

11

19

25

May 2

9

16

23

27

July 4

11

18

25

Aug. 1

8

58,474,300 6,180,858 6,552,901 19,878,006 59,037,935 5,493,396 6,935,803 20,017,147 58,802,700 5,234,600 7,371,600 18,846,900 58,773,537 4,645,866 6,890,858 18,422,769 58,214,940 4,662,014 6,987,221 18,201,927 57,972,321 4,667,352 6,387,768 18,033,821 58,122,483 4,926,056 6,678,754 17,957,506 58,123,231 4,769,101 6,570,163 17,417,279 58,016,685 4,922,414 6,444,603 17,602,981 58,089,045 5,094,717 6,259,360 17,569,101 58,567,981 5,115,478 6,495,950 18,159,586 58,765,279 5,129,751 6,612,559 18,190,067 58,851,495 5,342,342 6,650,383 18,459,463 26.. 58,580,748 5,164,191 6,548,230 18,527,936 58,735,636 5,195,497 6,694,038 19,165,983 58,881,297 5.451,900 7,420,173 19,635,881 58,752,928 5,542,585 7,133,034 19,653,268 58,433,628 5,648,712 6,991,568 19,379,720 58,321,757 5,762,822 6,632,123 19,652,388 59,036,007 5,447,489 6,983,075 20,344,878 59,338,369 5,245,205 6,885,008 19,587,724 59,488,359 5,045,858 6,816,774 19,555,848 59,220,885 4,855,433 6,802,704 18,821,988 59,528,260 4,715,576 6,773,030 18,971,401 59,701,811 4,703,134 6,751,934 18,709,672 59,829,222 4,771,791 6,605,936 18,518,118

3.. 10 ..

17..

59,576,273 4,713,510 6,477,422 18,088,099
59,807,566 4,674,271 6,479,483 18,449,305 7,545,222

PHILADELPHIA BANKS.- —(CAPITAL, JAN., 1860, $11,647,835.)

6,848,374

NEW ORLEANS BANKS.- —(CAPITAL, JAN., 1860, $18,917,600.)

Distant

Short loans.

balances.

Jan. 3..

20,537,567

10.. 20,453,417

Specie. Circulation. Deposits. Exchange. 16,013,189 9,551,324 22,643,428 9,882,602 2,331,233 16,294,474 10,383,734 21,756,592 9,866,131 2,540,573 17.. 20,904,840 16,343,810 10,819,419 22,194,957 9,666,070 2,380,707 24. 21,442,167 16,279,655 11,224,464 22,549,305 9,492,871 2,057,217 81.. 21,837,791 16,101,158 11,616,119 22,554,889 9,508,708 1,861,866 Feb. 5.. 21,809,628 16,365,053 11,913,009 22,743,175 9,747,755 2,000,056

12.. 22,594,245 16,700,188 12,148,174 23,830,045 9,686,145 1,879,644 19.. 22,677,390 16,949,263 12,241,954 23,620,711 9,474,473 2,174,619 27.. 23,126,625 16,806,998 12,522,244 23,203,848 9,217,655 2,320,031 Mar. 12.. 22,944,605 16,828,140 12,581,934 23,501,784 9,046,372 1,959,638 19.. 22,633,181 17,013,593 12,777,999 22,364,430 8,563,771 2,432,776 26.. 22,420,444 16,837,405 12,681,931 22,589,661 8,770,788 2,420,725 Apr. 2.. 22,465,730 16,179,137 13,054,416 22,465,730 9,059,382 2,545,873 9.. 21.655,921 16,250,790 12,985,616 22,066,164 9,493,761 2,582,084 16.. 21,132,186 15,975,547 12,777,079 22,356,833 9,949,531 2,243,528