1807 An Essay on the Theory of Money and Principle of Commerce

Description

First Edition, Folding Plates, Illustrated, Rebound, Very Scarce

A first edition of this work.

The first volume of John Wheatley's important treatise on currency, the second volume being published later in 1822.

Illustrated with five folding tables.

Collated, complete.

'An Essay on the Theory of Money and Principle of Commerce' was a major contribution to economic theory at the turn of the century, attacking the Earl of Liverpool and his proposals for coin and paper money in Britain. He argues in this work that there is an optimum quantity of money in a country, which keeps the prices in equilibrium with other countries. Thus the introduction of paper money in excess of this amount would depreciate the currency.

Wheatley offers a comprehensive analysis of the currency and economic situation in Britain across fourteen chapters, from the functions of money to the balance of trade, and the payment of foreign expenditure to the causes of depreciation of money. In this work he predates James Mill, John Ramsay McCulloch, and David Ricardo in advocating the quantity theory of value

By John Wheatley, who is best known for this work.