Hamish Riley-Smith

THORNTON,Henry. An Enquiry into the Nature and Effects of the Paper Credit of Great Britain. London, J.Hatchard 1802

Octavo, boards, xiipp + 320pp

First edition of the greatest work of the 19th century on monetary theory. Stephens writes that "It gives a comprehensive account of the workings of the money market at the date of its publication, and of the attitude in which the Bank of England stood towards the rest of the commercial world. As Bank Director, the author was peculiarly qualified to explain the inner mechanisms of the financial system. He insists that over-issue would depreciate the value of notes, but does not consider that the bank issue of the Bank of England is excessive".
Kress B4612. Goldsmith 18526. Stephens, p.32. Blaug, Great Economists before Keynes, p.242.

£1500

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