In The Financiers and the Nation (1934) Mr. Johnston - Privy Councillor - examines a dozen or so of the most spectacular of the major financial frauds permitted by Bank of England and City merchants in 19th and early 20th centuries and ends with a few proposed remedies, among them being the nationalization of the Bank of England, the development of regional municipal banks, greater use of the Post Office Savings Bank, and the planning and direction of a capital investment board.