When Walter Bagehot, the Victorian economist, wanted to explain how central banks should act as lenders of last resort, he quoted a director of the Bank of England. “We lent it by every possible means and in modes we had never adopted before,” the central banker said of the BoE’s response to a financial panic.
當維多利亞時代經濟學家沃爾特•白芝浩(Walter Bagehot)想解釋央行如何應當充當最後貸款人時，他引用了英國央行(Bank of England)一位董事的話。「我們當時以各種可能的方式、以從未採用過的模式放貸，」這位央行家在談及英國央行應對一次金融恐慌的舉措時說道。
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