Last Updated：2022/12/23
Sentence
The
fact,
which
surely
everybody
knows
and
hardly
anybody
ventures
to
state,
is
that
the
stability
of
our
great
banks--and
all
our
banking
system
which
now
matters
a
tittle
consists
of
great
banks--is
based
not
on
the
supply
of
gold
in
their
vaults,
nor
on
the
reserve
in
the
Bank
of
England,
but
on
the
fact
that
they
are
too
big
to
fail,
too
big
commercially
and
far
too
big
politically.
If
Lloyds,
or
the
London
County,
or
the
National
Provincial
stopped
payment,
the
consequences
would
far
exceed
a
San
Francisco
earthquake,
a
Chicago
fire,
or
any
other
catastrophe
within
the
memory
of
man.
Quizzes for review
The fact, which surely everybody knows and hardly anybody ventures to state, is that the stability of our great banks--and all our banking system which now matters a tittle consists of great banks--is based not on the supply of gold in their vaults, nor on the reserve in the Bank of England, but on the fact that they are too big to fail, too big commercially and far too big politically. If Lloyds, or the London County, or the National Provincial stopped payment, the consequences would far exceed a San Francisco earthquake, a Chicago fire, or any other catastrophe within the memory of man.
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