Nearly all of it is now called in by the banks, who have the regulation of the safety-valves of our fortunes, and who condense and explode them at their will.

Summary

This quote highlights the power and control exerted by banks in the financial system. It suggests that banks have become the gatekeepers of people's wealth and safety valves, meaning they have the authority to regulate and access a significant portion of our financial resources. Additionally, the quote implies that banks possess the ability to manipulate and influence the overall stability of our fortunes, either by gathering and accumulating them or by causing them to collapse and vanish at their discretion.

Topics