Lombard Street : a description of the money market

main point on which one system of credit differs from another is 'soundness

Credit means that a certain confidence is given, and a certain trust reposed

cannot appeal, therefore, to experience to prove the safety of our system as it now is, for the present magnitude of that system is entirely n

must examine the system on which these great masses of money are manipulated, and assure ourselves that it is safe and right.

After this example, we must not confide too surely in long-established credit, or in firmly-rooted traditions of business

very large sum of foreign money is on various accounts and for various purposes held here. And in a time of panic it might be asked for. I

income will be an ample recompense to the poor man which would starve the rich man out of the trad

England has a special machinery for getting into trade new men who will be content with low pri

ew man, with a small capital of his own and a large borrowed capital, can undersell a rich man who depends on his own capital only

Political economists say that capital sets towards the most profitable trades, and that it rapidly leaves the less profitable and non-paying trades.