[Lombard Street: A Description of the Money Market by Walter Bagehot]@TWC D-Link book
Lombard Street: A Description of the Money Market

CHAPTER VIII
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I do not believe that we should always get the best man for the post; often I fear that we should not even get a tolerable man.

There are many cases in which the offer of too high a pay would prevent our obtaining the man we wish for, and this is one of them.
A very high pay of prestige is almost always very dangerous.

It causes the post to be desired by vain men, by lazy men, by men of rank; and when that post is one of real and technical business, and when, therefore, it requires much previous training, much continuous labour, and much patient and quick judgment, all such men are dangerous.

But they are sure to covet all posts of splendid dignity, and can only be kept out of them with the greatest difficulty.
Probably, in every Cabinet there are still some members (in the days of the old close boroughs there were many) whose posts have come to them not from personal ability or inherent merit, but from their rank, their wealth, or even their imposing exterior.

The highest political offices are, indeed, kept clear of such people, for in them serious and important duties must constantly be performed in the face of the world.


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