It might give its aid, lend Exchequer bills, or otherwise pledge its credit for the moment, but when the exigency was passed it might let the offending banks suffer.

There would be a penalty for their misconduct.

New and better banks, who might take warning from that misconduct, would arise.

As in all natural trades, what is old and, rotten would perish, what is new and good would replace it.

And till the new banks had proved, by good conduct, their fitness for State confidence, the State need not give it.