Would current bank regulators have even been allowed to come close to banks in 1899?

Sir, David Palfreyman, Bursar and Fellow, New College, Oxford, UK quotes an article in the Economic Journal (1899) by G H Pownall, advocating that “bank reserves” must be brought up to around 15 per cent on the basis that “To keep adequate cash reserves is a duty that bankers owe the State” and “To let reserves fall too low is reprehensible, and the offence should be penalised”. “Bank capital: an old argument holds good” September 27. 

I wonder what they would have had to say in 1899 about different capital requirements based not on possible ex post risks but only on ex ante perceived risks?

I wonder what they would have had to say in 1899 about a 0% risk weight assigned to the sovereign?

I wonder what they would have had to say in 1899 about a 1.6% capital requirement, meaning an authorized leverage of 62.5 to 1 if only there was an AAA or an AA rating present.

Sir, do you think our current bank regulators would have been allowed to regulate in 1899? I don’t!

@PerKurowski