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

CHAPTER VI
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In a year or two after a crisis credit usually improves, as the remembrance of the disasters which at the crisis impaired credit is becoming fainter and fainter.

Provisions get back to their usual price, or some great industry makes, from some temporary cause, a quick step forward.

At these moments, therefore, the three agencies which, as has been explained, greatly develope trade, combine to develope it simultaneously.
The certain result is a bound of national prosperity; the country leaps forward as if by magic.

But only part of that prosperity has a solid reason.

As far as prosperity is based on a greater quantity of production, and that of the right articles--as far as it is based on the increased rapidity with which commodities of every kind reach those who want them--its basis is good.


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