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Lombard Street

A Description of the Money Market

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Lombard Street

By: Walter Bagehot
Narrated by: Robin Sachs
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Summary

In Lombard Street, the money market is pictured as it really was in 1850-1870 and as Bagehot saw it with philosophic eyes. Beginning with the sentence “The objects which you see in Lombard Street are the Bank of England, the joint stock banks, the private banks and the discount houses”, he describes briefly and clearly the respective functions of these different bodies in the organism of the city, according to his own close observation as a banker himself, knowing the ways and thoughts of the men he describes, and as a man of business likewise in other ways, knowing at first hand the relation of banking to the trade and commerce of the country. 

Public Domain (P)2009 Audible, Inc. Banks & Banking Corporate & Public Finance Economics Gender Studies Social Sciences Banking Money Taxation
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The author finds a way to make the Bank of England interesting. You get 5 stars for that alone.

Informative and entertaining.

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What an excellent book on some of the key issues in the money markets. It raises the uncomfortable question: why do we keep making the same mistakes? Politicians, bankers and finance professionals would be well advised to read it before meddling in this area.

Historical Banking Wisdom - Highly Educational

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