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Lombard Street

A Description of the Money Market.

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Author: Walter Bagehot
Language: English
Wordcount: 79,082 / 228 pg
Flesch-Kincaid Reading Ease: 55.8
LoC Category: HG
Downloads: 1,981
mnybks.net#: 725
Origin: gutenberg.org
Excerpt

oney Market, the source of all good according to some, and the source of all harm according to others, the extreme irritation excited by an opinion on it would be no reason for not giving a free opinion. A writer on any subject must not neglect its cardinal fact, for fear that others may abuse him. But, in my judgment, the Act of 1844 is only a subordinate matter in the Money Market; what has to be said on it has been said at disproportionate length; the phenomena connected with it have been magnified into greater relative importance than they at all deserve. We must never forget that a quarter of a century has passed since 1844, a period singularly remarkable for its material progress, and almost marvellous in its banking development. Even, therefore, if the facts so much referred to in 1844 had the importance then ascribed to them, and I believe that in some respects they were even then overstated, there would be nothing surprising in finding that in a new world new phenomena had arisen which now are larger

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Kirsten Fullmer is an author who bid farewell to her job in the drafting industry and pursued her dream to write novels while traveling with her husband for his job. When she isn't writing, Fullmer loves tinkering with all kinds of crafts, including scrapbooking, cross stitching, crocheting and sewing. As our author of the day, Fullmer chats with us about how she fell in love with the Shabby Chic style, why she picked a small town as the backdrop for her books and talks about her writing habits.
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