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The cardinal maxim is, that any aid to a present bad Bank is the surest mode of preventing the establishment of a future good Bank.
Walter Bagehot
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Walter Bagehot
Age: 51 †
Born: 1826
Born: February 3
Died: 1877
Died: March 24
Businessperson
Economist
Engineer
Journalist
Political Scientist
Politician
Sociologist
Langport
Somerset
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Bank
Establishment
Cardinal
Investing
Cardinals
Aids
Maxim
Present
Surest
Future
Maxims
Good
Preventing
More quotes by Walter Bagehot
A severe though not unfriendly critic of our institutions said that the cure for admiring the House of Lords was to go and look at it.
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The most melancholy of human reflections, perhaps, is that, on the whole, it is a question whether the benevolence of mankind does most good or harm.
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Poverty is an anomaly to rich people it is very difficult to make out why people who want dinner do not ring the bell.
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The Sovereign has, under a constitutional monarchy such as ours, three rights - the right to be consulted, the right to encourage, the right to warn. And a king of great sense and sagacity would want no others.
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Capital must be propelled by self-interest it cannot be enticed by benevolence.
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What impresses men is not mind, but the result of mind.
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The most intellectual of men are moved quite as much by the circumstances which they are used to as by their own will. The active voluntary part of a man is very small, and if it were not economized by a sleepy kind of habit, its results would be null.
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The whole history of civilization is strewn with creeds and institutions which were invaluable at first, and deadly afterwards
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No man has come so near our definition of a constitutional statesman - the powers of a first-rate man and the creed of a second-rate man.
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Go ahead and do the impossible. It's worth the look on the faces of those who said you couldn't.
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Whenever two people meet, there are really six people present. There is each man as he sees The greatest pleasure in life is doing what people say you cannot do.
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Life is a school of probability.
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Stupidity is nature's favorite resource for preserving consistency of opinion.
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Not only does a bureaucracy tend to under-government in point of quality it tends to over-government in point of quantity.
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A schoolmaster should have an atmosphere of awe, and walk wonderingly, as if he was amazed at being himself.
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An influential member of parliament has not only to pay much money to become such, and to give time and labour, he has also to sacrifice his mind too - at least all the characteristics part of it that which is original and most his own.
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Life is not a set campaign, but an irregular work, and the main forces in it are not overt resolutions, but latent and half-involuntary promptings.
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The peculiar essence of our banking system is an unprecedented trust between man and man. And when that trust is much weakened by hidden causes, a small accident may greatly hurt it, and a great accident for a moment may almost destroy it.
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The characteristic merit of the English constitutions is, that its dignified parts are very complicated and somewhat imposing, very old and rather venerable, while its efficient part, at least when in great and critical action, is decidedly simple and modern.
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But of all nations in the world the English are perhaps the least a nation of pure philosophers.
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