Lombard Street: A Description of the Money Market. Walter Bagehot. 1873. Third edition.
359pp. 1873. Third edition. Henry S. King & Co. Good, solid copy, clean text. Previous owners\' names on first page as per photo. A very nice, early edition of this classic that every banker should own. A very scarce copy! Collectible! \"In Lombard Street: A Description of the Money Market (1873) Bagehot seeks to explain the world of finance and banking. His observations on finance are often cited by central bankers, most recently in the wake of the global financial crisis which began in 2007. Of particular importance is \"Bagehot\'s Dictum\" that in times of financial crisis central banks should lend freely to solvent depository institutions, yet only against sound collateral and at interest rates high enough to dissuade those borrowers that are not genuinely in need.\"
£100.00
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