LAW,John Money and Trade consider’d; with a Proposal for Supplying the Nation with Money. The Second Edition. London, W.Lewis 1720
Octavo, 3 works in one volume, 18th century pale quarter calf and marbled boards, spine with five raised bands with gilt fleurions in compartments, red morocco label lettered gilt, (2) + 3-96pp; a handsome copy from the Macclesfield Library with engraved armorial bookplate and crest blindstamped on title.
Kress 3238. Goldsmith 5819. Carpenter, Economic bestsellers before 1850, Law ix,2. Schumpeter, pp.321-2. Blaug, Great Economists before Keynes, pp.125-126. Antoin Murphy (ed) John Law’s ‘Essay on a Land Bank”, pp.15-16. Second edition of John Law’s (1671-1729) principal theories on money and banking giving a detailed account of his plan to replace specie with paper currency based on land and of his proposals for a state bank. Money and trade considered was first published anonymously in Edinburgh in 1705. Law is described by Schumpeter as “in the front rank of monetary theorists of all times”. Antoin Murphy writes “Money and trade in particular is a seminal work….In it Law discussed not only the money/inflation issue, but, more significantly, the money/output issue. He was contending that money was linked, not just to the price level, but also to output – or trade, as it was then called. Law wanted to show that an expansion of money supply could increase output and employment in an economy characterised by unemployment and under-utilisation of resources. At the same time, he produced a highly innovative approach to macroeconomic theorizing…”‘Born in Edinburgh, the son of a prosperous banker…he devoted his entire life to making proposals for the establishment of banks, both in Scotland and on the Continent, convinced as he was that the key to economic prosperity lay in augmenting the base of metallic currencies with paper money, particularly paper money backed by land holdings’ Blaug.with the following two works bound inii).[FREIND,John] An Account of the Earl of Peterborow’s conduct in Spain, Chiefly since raising the Siege of Barcelona, 1706. To which is added the Campagne of Valencia. With Original Papers. The Third Edition, Corrected. London, J.B. for Jonah Bowyer 1708 (2) + 107pp first and last leaves duststained.iii).The Present State of the British Court: or, an Account of the Civil and Military Establishment of England. Containing New and Exact Lists of all the Officers of His Majesty’s Court and Household, the Army, and Navy; and also of the several Branches of the Revednue, with the Nature, Duty, and Business of every particular Office and Officer therin; their Attendance, Salaries, Fees, &c. To which is added, a List of their Highnesses, the young Princesses Household. London, A.Bell 1720 (4) + 200pp.
£3250
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