When he said that the whole meaning of a (clear) conception consists in the entire set of its practical consequences, he had in mind that a meaningful conception must have some sort of experiential "cash value", must somehow be capable of being related to some sort of collection of possible empirical observations under specifiable conditions.
The term cash value here repeats the notion of iteration, of ratchet effect in perceiving truth / gaining knowledge. Like in a life insurance policy the cash value is a representation of what has been ratcheted up for future use.