¹ “The abstract thinking of the world is never to be expected from persons in high places; the administration of first-rate current transactions is a most engrossing business, and those charged with them are usually but little inclined to think on points of theory, even when such thinking most nearly concerns those transactions.” Bagehot, Walter, Lombard Street: A Description of the Money Market (New York, 1873), pp. 177–8.Google Scholar

² Bankers Magazine (London, 1872), p. 858.Google Scholar

³ Studies in the Theory of International Trade (New York, 1937), p. 120.Google Scholar

⁴ The Art of Central Banking (London, 1932), p. 116.Google Scholar