Classic Adam Smith quote on banking…

“Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.”

— Adam Smith, “The Wealth of Nations”, 1776

Print Friendly, PDF & Email

Leave a Reply