This is from the book Post-War Banking Policy - a series of Addresses published in 1928.
The Right Honourable Reginald McKenna P.C. was a former Chancellor of the Exchequer (1915-16) and ended up as Chairman of the Midland Bank in the 1920s
The quotes show that the way banks actually operate was known a century ago.…3spoken
Post-War Banking Policy- Reginald McKenna