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The Money Market in England
The money market in england was likea more advanced than anywhere in the whole world. The deception of calling these things bank of england, again, it's a private bank, you know. And people like from the quotaquo old school. He's writing in 18 73. They're no longer profitable because they don't want to spend their capital and they don't borrow. It's kind of, i think, he explains that in an effort to explain that the united states didn't get into t depression because there wasn't enough gold,. That's not why.