If they had, they must have pointed out some other great store of unused cash besides that at the Bank, and they could not find such store.

But they have attempted distinctions; have said that the doctrine that the Bank of England keeps the sole banking reserve of the country was "not a good way of putting it," was exaggerated, and was calculated to mislead.
'But the late meeting is a complete admission that such is the fact.
The Governor of the Bank said: "'A great strain has within the last few months been put upon the resources of this house, and of the whole banking community of London; and I think I am entitled to say that not only this house, but the entire banking body, acquitted themselves most honourably and creditably throughout that very trying period.

Banking is a very peculiar business, and it depends so much upon credit that the least blast of suspicion is sufficient to sweep away, as it were, the harvest of a whole year.

But the manner in which the banking establishments generally in London met the demands made upon them during the greater portion of the past half-year affords a most satisfactory proof of the soundness of the principles on which their business is conducted.

This house exerted itself to the utmost--and exerted itself most successfully--to meet the crisis.