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From:
[log in to unmask] (Peter G. Klein)
Date:
Fri Mar 31 17:19:00 2006
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===================== HES POSTING ===================== 
 
Hayek's essay "The Future Unit of Value" includes the following anecdote:  
 
"Bankers have in particular forgotten a famous phrase used by an English 
banker when Peel's Act of 1844 was passed:  'I don't need a Reserve Bank; 
I keep my reserves here.'  Thereby pointing his finger down to the 
direction of the vaults of his bank."  
 
Can anyone provide a source for this anecdote, or identify the English 
banker in question?  
 
Thanks in advance, 
Peter Klein 
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