 | Walter Bagehot - Banks and banking - 1873 - 382 pages
...depends on the Bank of England for its security. On the wisdom of the directors of that one Joint Stock Company, it depends whether England shall be . solvent...merchants depend on some banker. If a merchant have io,ooo/. at his bankers, and wants to pay it to some one in Germany, he will not be able to pay it... | |
 | Arthur Ellis - Algemeen - 1876 - 204 pages
...its responsibility the Bank of England would be a political as well aa a commercial autocrat, for " on the wisdom of the directors of that one joint-stock...be solvent or insolvent. This may seem too strong," says Mr. Bagehot, " but it is not. All banks depend on the Bank of England, and all merchants depend... | |
 | Arthur Ellis - Speculation - 1879 - 216 pages
...its responsibility the Bank of England would be a political as well as a commercial autocrat, for " on the wisdom " of the Directors of that one joint-stock...solvent or insolvent. " This may seem too strong," says Mr. Bagehot, "but " it is not. All banks depend on the Bank of England, " and all merchants depend... | |
 | Joseph Shield Nicholson - Bimetallism - 1888 - 402 pages
...banking department. "In consequence," says Mr Bagehot, after a preliminary survey of the system, " all our credit system depends on the Bank of England...on some banker. If a merchant have £10,000 at his banker's, and wants to pay it to some one in Germany, he will not be able to pay it unless his banker... | |
 | Langford Lovell Price - Economics - 1891 - 226 pages
...the sole custodian of the only remedy which is effective at critical junctures. As Bagehot puts it, "on the wisdom of the directors of that one joint-stock...depends whether England shall be solvent or insolvent." The gravity of the situation was, he pointed out, enhanced by some further considerations. As a panic... | |
 | Walter Bagehot - Banks and banking - 1896 - 384 pages
...takes fright will not wait, and if he wants bullion in a hurry he must come to the Bank of England. In consequence all our credit system depends on the...merchants depend on some banker. If a merchant have 1o,ooo/. at his banker's, and wants to pay it to some one in Germany, he will not be able to pay it... | |
 | William Hickman Smith Aubrey - Investments - 1897 - 322 pages
...conclusion concerning the measure is that the disadvantages greatly preponderate. Bagehot remarks, "All our credit system depends on the Bank of England...England, and all merchants depend on some banker." 1 He also says, " All country bankers keep their reserve in London. They only retain in each country... | |
 | Canadian Bankers' Association - Banks and banking - 1901 - 508 pages
...but of all London, "and not only of all London but of all England, Ireland and " Scotland, too." " On the wisdom of the directors of that one Joint-Stock...depends whether England shall be solvent or insolvent." The directors of the bank are in a singular position. On the one hand a great national opinion requires... | |
 | Joseph Shield Nicholson - Banks and banking - 1902 - 104 pages
...of Walter Bagehot, the author of Lombard Street, and a banker and an economist of the first rank, " All our credit system depends on the Bank of England...depends whether England shall be solvent or insolvent." And if the precise method of stating the truth seems rather overstrained, there is no question of the... | |
 | Walter Bagehot - Banks and banking - 1906 - 382 pages
...directors of that one Joint^Stock Company^ij_jd^end^whether England shall be solvent or~tnsolvent. This may seem too strong, but it is not. All banks...merchants depend on some banker. If a merchant have io,ooo/. at his bankers, and wants to pay it to some one in Germany, he will not be able to pay it... | |
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In consequence all our credit system depends on the Bank of England for its security. On the wisdom of the directors of that one joint-stock company, it depends whether England shall be solvent or insolvent. 
