6. What is the function of a clearing-house?
7. If there are twenty banks in a town and no clearing-house, how many collections would have to be made by all the banks daily assuming that each day depositors of each bank receive checks on the other nineteen banks?
8. Does a clearing-house enable the banks that belong to it to get along with a smaller cash reserve?
9. What element of security is furnished by clearing-houses during panics?
Chapter 49. Taxation in its Relation to Value
1. Does taxation ever infringe on the right of private property?
2. What is it a citizen gets in return for his taxes?
3. Is there any relation between the taxes paid and the benefits secured from government?
4. A recent newspaper item says: "This is the year real estate is assessed. Turn the cow loose in the front yard, tear down the fence, make things look generally dilapidated, for it will be money in your pocket." What does this indicate regarding taxation?