Nor have the demoralising consquences of the funding system on the more favoured classes been less decided. It has made debt a national habit; it has made credit the ruling power, not the exceptional auxiliary, of all transactions; it has introduced a loose, inexact, haphazard, and dishonest spirit in the conduct of both public and private life; a spirit dazzling and yet dastardly; reckless of consquence and yet shrinking from responsibility. And in the end, it has so overstimulated the […]

Tags: Central Banking, Disraeli, Money, State