Walter Bagehot (/ˈbædʒət/ BAJ-ət; 3 February 1826 – 24 March 1877) was a British journalist, businessman, and essayist, who wrote extensively about government, economics, and literature.
Poverty is an anomaly to rich people; it is very difficult to make out why people who want dinner do not ring the bell.
The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.
A slight daily unconscious luxury is hardly ever wanting to the dwellers in civilization; like the gentle air of a genial climate, it is a perpetual minute enjoyment.
A man's mother is his misfortune, but his wife is his fault.
Not only does a bureaucracy tend to under-government in point of quality; it tends to over-government in point of quantity.
Royalty is a government in which the attention of the nation is concentrated on one person doing interesting actions. A Republic is a government in which that attention is divided between many, who are all doing uninteresting actions. Accordingly, so long as the human heart is strong and the human reason weak, Royalty will be strong because it appeals to diffused feeling, and Republics weak because they appeal to the understanding.
Life is not a set campaign, but an irregular work, and the main forces in it are not overt resolutions, but latent and half-involuntary promptings.
The essence of Toryism is enjoyment?but as far as communicating and establishing your creed are concernedtrya little pleasure. The way to keep up old customs is, to enjoy old customs; the way to be satisfied with the present state of things is, to enjoy that state of things.
Nothing is more unpleasant than a virtuous person with a mean mind.
A constitutional statesman is in general a man of common opinions and uncommon abilities.
The cure for admiring the House of Lords is to go and look at it.
Credit means that a certain confidence is given, and a certain trust reposed. Is that trust justified? And is that confidence wise? These are the cardinal questions. To put it more simply credit is a set of promises to pay; will those promises be kept?
You may talk of the tyranny of Nero and Tiberius; but the real tyranny is the tyranny of your next-door neighbor.
The business of banking ought to be simple. If it is hard it is wrong. The only securities which a banker, using money that he may be asked at short notice to repay, ought to touch, are those which are easily saleable and easily intelligible.
Money is economic power.
The most intellectual of men are moved quite as much by the circumstances which they are used to as by their own will. The active voluntary part of a man is very small, and if it were not economized by a sleepy kind of habit, its results would be null.
War both needs and generates certain virtues; not the highest, but what may be called the preliminary virtues, as valor, veracity, the spirit of obedience, the habit of discipline. Any of these, and of others like them, when possessed by a nation, and no matter how generated, will give them a military advantage, and make them more likely to stay in the race of nations.
Great and terrible systems of divinity and philosophy lie round about us, which, if true, might drive a wise man mad.
The being without an opinion is so painful to human nature that most people will leap to a hasty opinion rather than undergo it.
Adventure is the life of commerce, but caution is the life of banking.