You wrote...

While not as familiar with the US system as the Canadian, I can give as a simple example, the bank clearing system for paper checks. In Canada, we can clear a check from one side of the country to the other overnight. We have 24 hour clearing. While this is far from "perfect", our existing paper systems allow for a degree of efficiency which I don't believe is engineered into the US clearing system.

Here in Australia most banks take 5 working days to clear a cheque.. even if it's deposited at a bank just up the road from drawer's bank. cheers Peter Flight to Quality Wiltshire Productions Pty Ltd Brisbane, Queensland, Australia Intl Voice 61 7 3376 3535 Intl Fax 61 7 3279 4027 Email wiltship@gil.com.au PGP Key ID 3E584C7D PGP Fingerprint 01 03 FB F4 BE F8 2B F3 5D 84 6B 69 37 80 FE 10