The house of Industry : a new estate of the realm

A NOTE ON CREDIT 49

The question is: Who did the banking? The depositors or the Bank ?

Making all allowances for the greater complexities of finance in Great Britain, may one ask the question, impious as it sounds: Who does the banking over here; the Banks or the millions of depositors ?

Once established, the House of Industry could answer that question within ten seconds.

But that is too cavalier a conclusion to a serious matter. In the application of our combined credit, the Banks are essential. We need their trained intelligence, their skill and knowledge, their almost preternatural sense of the margin of prudence. Credit is shy and evanescent; it cannot be lightly wooed. But the question still remains: Who shall guard the guardians of our credit?

The House of Industry could answer that in another ten seconds.