"But are you really in earnest?"
"I assure you," said T. B. seriously, "that I regard this matter as being one of life and death."
"Well," said the banker, with a perplexed frown, "I will explain. The solvency of a bank, as of an individual, is merely a matter of assets and liabilities. The liabilities are the elementary debts, deposits, loans, calls, and such like that are due from the bank to its clients and shareholders. Sometimes the liability takes the form of a guarantee for the performance of certain obligations—that is clear enough?"
T. B. nodded.
"Assets may be represented as gold, Government securities and stock convertible into gold, properties, freehold, leasehold, land; but you know, of course, the exact significance of the word assets?"
T. B. nodded again.
"Well, it is a matter of balance," said the banker, "allowing a liberal margin for the fluctuation of securities, we endeavour and succeed in keeping a balance of assets in excess of our liabilities."
"Do you keep gold in any quantity on the premises?—what would be the result, say, of a successful burglary that cleared your vaults?"
"It would be inconvenient," said Sir George, with a dry smile, "but it would not be disastrous."
"What is your greatest outstanding liability?" demanded T. B.