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How Did the Check Clearing System Work?

The original stamp duty, i think, as he put a penny stamp on it. But when i started my banking career in 19 71, that was the same year they abolished e stamp duty on cheques. So twe never had to go through the fat of having to account for them all. I used to talk about men in bolar hats carrying bags of them round the city and dropping them off at the right bank. Is that a parody of mine, or is that just about right? They did do that, but it wasn't really so much with cheques. It was with more valuable items. Payments between banks would be transported by men in bowle hats who would go from one

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