Our people are bolder in dealing with their money than any continental nation, and even if they were not bolder, the mere fact that their money is deposited in a bank makes it far more obtainable.

A million in the hands of a single banker is a great power; he can at once lend it where he will, and borrowers can come to him, because they know or believe that he has it.

But the same sum scattered in tens and fifties through a whole nation is no power at all: no one knows where to find it or whom to ask for it.
Concentration of money in banks, though not the sole cause, is the principal cause which has made the Money Market of England so exceedingly rich, so much beyond that of other countries.
The effect is seen constantly.

We are asked to lend, and do lend, vast sums, which it would be impossible to obtain elsewhere.

It is sometimes said that any foreign country can borrow in Lombard Street at a price: some countries can borrow much cheaper than others; but all, it is said, can have some money if they choose to pay enough for it.