You always come back to the Bank of England at last.

But those who keep immense sums with a banker gain a convenience at the expense of a danger.

They are liable to lose them if the bank fail.

As all other bankers keep their banking reserve at the Bank of England, they are liable to fail if it fails.

They are dependent on the management of the Bank of England in a day of difficulty and at a crisis for the spare money they keep to meet that difficulty and crisis.