And there is no such palpable necessity in banking.

If you take a country town in France, even now, you will not find any such system of banking as ours.
Cheque-books are unknown, and money kept on running account by bankers is rare.

People store their money in a caisse at their houses.

Steady savings, which are waiting for investment, and which are sure not to be soon wanted, may be lodged with bankers; but the common floating cash of the community is kept by the community themselves at home.

They prefer to keep it so, and it would not answer a banker's purpose to make expensive arrangements for keeping it otherwise.