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Quote of the Day: Run On the Bank

Posted by msrb on September 23, 2008

A Hanging Offense

“The goldsmith bankers in Amsterdam got a law passed making it a hanging offense to start a run on the goldsmith. But one day there was a run, and of course the goldsmith could not pay.  The matter was resolved not by hanging the unknown individual who started the run, but by hanging the goldsmith.”

Source: for the common good: redirecting the economy toward community, the environment, and a sustainable future by Herman E. Daly and John B. Cobb, Jr. Quoting Russel G. Barber, Jr. The One Hundred Percent Reserve System.

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3 Responses to “Quote of the Day: Run On the Bank”

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  2. […] Run on the bank: A Hanging Offense […]

  3. […] Run on the bank: A Hanging Offense […]

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