[Lombard Street: A Description of the Money Market by Walter Bagehot]@TWC D-Link bookLombard Street: A Description of the Money Market CHAPTER X 3/23
Even in large cities, as cities then were, it was possible for most persons to ascertain with fair certainty the real position of conspicuous persons, and to learn all which was material in fixing their credit.
Accordingly the bankers who for a long series of years passed successfully this strict and continual investigation, became very wealthy and very powerful. The name 'London Banker' had especially a charmed value.
He was supposed to represent, and often did represent, a certain union of pecuniary sagacity and educated refinement which was scarcely to be found in any other part of society.
In a time when the trading classes were much ruder than they now are, many private bankers possessed variety of knowledge and a delicacy of attainment which would even now be very rare.
Such a position is indeed singularly favourable.
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