The size of the private banks will have to augment if private banks are not to cease; and therefore the necessity of a good organisation for detail is urgent.

If the bank grows, and simultaneously the detail grows in proportion to the bank, a frightful confusion is near unless care be taken.
The only organisation which I can imagine to be effectual is that which exists in the antagonistic establishments.

The great private banks will have, I believe, to appoint in some form or other, and under some name or other, some species of general manager who will watch, contrive, and arrange the detail for them.

The precise shape of the organisation is immaterial; each bank may have its own shape, but the man must be there.

The true business of the private partners in such a bank is much that of the directors in a joint stock bank.
They should form a permanent committee to consult with their general manager, to watch him, and to attend to large loans and points of principle.