The Future Outlook - 1885 - 2016 >

In the final “letter XLI” in George Rae's book - THE COUNTRY BANKER - published in April 1885 - he includes the following quotation from the publication ‘Defence of Usury’ written in 1787 by Jeremy Bentham (1748–1832),[1] an English jurist, philosopher and legal and social reformer.


The Golden Age, it is but true, it is not the lot of the generation in which we live, but if it is to be found in any part of the track marked out for human existence, it will be found, I trust, not in any part which is past, but in some part which is to come.’


In 1885, George Rae poses the following questions.

Have we seen the last of overtrading and speculation? We might almost as well ask – Have we seen the last of human nature? We have not seen the last of these things. On the contrary, when they next take place, they will be probably be on a larger scale than heretofore, a scale proportional to the enormous increase in our commercial and monetary transactions since the time of our last panic. It is possible to indeed imagine such as conjunction of disturbing events and adverse influence at some critical point in the future, as may result in more intense pressure upon our monetary system than it has ever suffered in the past; unless when the evil time comes, the Act of 1844 is promptly suspended, or judiciously amended meanwhile.


George Rae continues:

In pursuance of your enquiry then, have we seen the last of our monetary panics? It has to be confessed that we have not, thus far, found much encouragement for the future, in either the past or present condition of things; and we have yet to add the adverse features of the situation, the humiliating fact that even in this 19th century of civilisation and culture, we are not exempt from the folly and mischief of ruins.


In conclusion, he might well as substituted the 20th or 21st century in the text. So, if you would like to utilise my experience in order to reduce the likelihood that your organisation will be unprepared for unexpected events, then contact me, and let me help you take control over influencing the future. 


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