Many things which seem simple and which work well when firmly established, are very hard to establish among new people, and not very easy to explain to them.

Deposit banking is of this sort.

Its essence is that a very large number of persons agree to trust a very few persons, or some one person.

Banking would not be a profitable trade if bankers were not a small number, and depositors in comparison an immense number.

But to get a great number of persons to do exactly the same thing is always very difficult, and nothing but a very palpable necessity will make them on a sudden begin to do it.