There is a natural tendency in men to follow the example of the Government under which they live.

The Government is the largest, most important, and most conspicuous entity with which the mass of any people are acquainted; its range of knowledge must always be infinitely greater than the average of their knowledge, and therefore, unless there is a conspicuous warning to the contrary, most men are inclined to think their Government right, and, when they can, to do what it does.

Especially in money matters a man might fairly reason--'If the Government is right in trusting the Bank of England with the great balance of the nation, I cannot be wrong in trusting it with my little balance.' Second.

The Bank of England had, till lately, the monopoly of limited liability in England.

The common law of England knows nothing of any such principle.