We cannot appeal, therefore, to experience to prove the safety of our system as it now is, for the present magnitude of that system is entirely new.
Obviously a system may be fit to regulate a few millions, and yet quite inadequate when it is set to cope with many millions.

And thus it may be with 'Lombard Street,' so rapid has been its growth, and so unprecedented is its nature.
I am by no means an alarmist.

I believe that our system, though curious and peculiar, may be worked safely; but if we wish so to work it, we must study it.

We must not think we have an easy task when we have a difficult task, or that we are living in a natural state when we are really living in an artificial one.

Money will not manage itself, and Lombard street has a great deal of money to manage..