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Walter Bagehot

Lombard Street : a description of the money market

  • Arif Shahцитирует5 лет назад
    main point on which one system of credit differs from another is 'soundness
  • Arif Shahцитирует5 лет назад
    Credit means that a certain confidence is given, and a certain trust reposed
  • Arif Shahцитирует5 лет назад
    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
  • Arif Shahцитирует5 лет назад
    must examine the system on which these great masses of money are manipulated, and assure ourselves that it is safe and right.
  • Arif Shahцитирует5 лет назад
    After this example, we must not confide too surely in long-established credit, or in firmly-rooted traditions of business
  • Arif Shahцитирует5 лет назад
    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
  • Arif Shahцитирует5 лет назад
    income will be an ample recompense to the poor man which would starve the rich man out of the trad
  • Arif Shahцитирует5 лет назад
    England has a special machinery for getting into trade new men who will be content with low pri
  • Arif Shahцитирует5 лет назад
    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
  • Arif Shahцитирует5 лет назад
    Political economists say that capital sets towards the most profitable trades, and that it rapidly leaves the less profitable and non-paying trades.
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