Men Will Not Always Die Quietly.

Nevertheless, If We Contemplate A Society With A Somewhat Stable Wage-unit, With National Characteristics Which Determine The Propensity To Consume And The Preference For Liquidity, And With A Monetary System Which Rigidly Links The Quantity Of Money To The Stock Of The Precious Metals, It Will Be Essential For The Maintenance Of Prosperity That The Authorities Should Pay Close Attention To The State Of The Balance Of Trade. For A Favourable Balance, Provided It Is Not Too Large, Will Prove Extremely Stimulating; Whilst An Unfavourable Balance May Soon Produce A State Of Persistent Depression.

The Great Events Of History Are Often Due To Secular Changes In The Growth Of Population And Other Fundamental Economic Causes, Which, Escaping By Their Gradual Character The Notice Of Contemporary Observers, Are Attributed To The Follies Of Statesmen Or The Fanaticism Of Atheists .

But My Lord, When We Addressed This Issue A Few Years Ago, Didn't You Argue The Other Side?" He Said, "that's True, But When I Get More Evidence I Sometimes Change My Mind. What Do You Do?

A Sound Banker, Alas, Is Not One Who Foresees Danger And Avoids It, But One Who, When He Is Ruined, Is Ruined In A Conventional And Orthodox Way Along With His Fellows, So That No One Can Really Blame Him. It Is Necessarily Part Of The Business Of A Banker To Maintain Appearances, And To Confess A Conventional Respectability, Which Is More Than Human. Life-long Practices Of This Kind Make Them The Most Romantic And The Least Realistic Of Men.

The Old Saying Holds. Owe Your Banker �1000 And You Are At His Mercy; Owe Him �1 Million And The Position Is Reversed.