We have by present practice an Indian Chancellor of the Exchequer talking English finance at Calcutta, and an English one talking Indian finance in England.
Walter Bagehot: “We have by present practice an Indian Chancellor of the Exchequer talking English finance at Calcutta, and an English…”
Editor's note · Context
Bagehot comments on the peculiar situation of financial governance between England and India.
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Our law very often reminds one of those outskirts of cities where you cannot for a long time tell how the streets come to wind about in so capricious and serpent-like a manner.
At last it strikes you that they grew up, house by house, on the devious tracks of the old green lanes; and if you follow on to the existing fields, you may often find the change half complete.
Just so the lines of our Constitution were framed in old eras of sparse population, few wants, and simple habits; and we adhere in seeming to their shape, though civilisation has come with its dangers, complications, and enjoyments.
But it is natural also that persons used to analyse political institutions should look at these anomalies with a little tenderness and a little interest.





