cutting out pennies and shillings and half-crowns and threepenny-bits

Question

In the first chapter of Mary Poppins, Mr.Banks worked at a bank in the City.

Quote:

and while he was there he sat on a large chair in front of a large desk and made money. All day long he worked, cutting out pennies and shillings and half-crowns and threepenny-bits. And he brought them home with him in his little black bag.

Question:

What does cut out mean in the context? Was he involved in manufacturing coins? but then why he sat on a large chair in front of a large desk at work? And even if he did work as a coin manufacturer, how come he could bring some of the coins back home? Shouldn't all the coins belong to the bank?

Answer 1

The author is making a pun on the phrase "made money". "Made money" is an idiom in English for earning money, profiting from a business, or any other way of increasing how much money one has. However, literally the word "make" means create. As you said, a literal interpretation is that he manufactures coins. Taking some of it home with him is an extension of the humorous misinterpretation of his job. He earns a salary, but a child might misinterpret that as getting to keep some of the money he "makes".

Answer 2

The book was meant for children. It was too hard to explain to them the idea behind fractional reserve banking, so the author made it seem like bankers earned money by literally manufacturing them at the bank where they worked, instead of how they actually do via interest rates.