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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.

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
Men
Causes
Peculiar
Small
Hidden
Almost
Accidents
Moment
Destroy
Weakened
Moments
Essence
Unprecedented
May
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Banking
Great
System
Greatly
Much
Hurt
Accident

More quotes by Walter Bagehot

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If you have to prove you are worthy of credit, your credit is already gone.
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Under a Presidential government, a nation has, except at the electing moment, no influence it has not the ballot-box before it its virtue is gone, and it must wait till its instant of despotism again returns.
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Every banker knows that if he has to prove that he is worthy of credit, however good may be his arguments, in fact his credit is gone: but what we have requires no proof.
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It is good to be without vices, but it is not good to be without temptations.
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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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Men who do not make advances to women are apt to become victims to women who make advances to them.
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When great questions end, little parties begin.
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Royalty is a government in which the attention of the nation is concentrated on one person doing interesting actions.
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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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Conquest is the missionary of valor, and the hard impact of military virtues beats meanness out of the world.
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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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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 being without an opinion is so painful to human nature that most people will leap to a hasty opinion rather than undergo it.
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It has been said that England invented the phrase, 'Her Majesty's Opposition' that it was the first government which made a criticism of administration as much a part of the polity as administration itself. This critical opposition is the consequence of cabinet government.
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We see but one aspect of our neighbor, as we see but one side of the moon in either case there is also a dark half, which is unknown to us. We all come down to dinner, but each has a room to himself.
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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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The cure for admiring the House of Lords is to go and look at it.
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All people are most credulous when they are most happy.
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In the faculty of writing nonsense, stupidity is no match for genius.
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Throughout the greater part of his life George III was a kind of 'consecrated obstruction'.
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