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Cover of Foundations of Monetary Economics

Foundations of Monetary Economics

Edited by D. P. O’Brien

  • Published: 2016
  • DOI: 10.4324/9781851961900
  • Set ISBN: 9781851961900

Set Contents

The Bullionists

In 1797 the convertibility of bank notes into gold was suspended. The immediate cause of this was a financial crisis triggered by the threat of French invasion. But it was to be the start of more than twenty years of inconvertible paper currency. The so-called ‘Bank Restriction Period’ had arrived.

Volume Contents

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    Front Matter
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    Introduction By D. P. O’Brien
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    1
    1801 On the Influence of the Stoppage of Issues in Specie at the Bank of England By Walter Boyd
  • 1802 An Enquiry into the Nature and Effects of the Paper Credit of Great Britain By Henry Thornton
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      III
      Of circulating Paper—of Bank Notes—of Bills considered as circulating Paper—different Degrees of Rapidity in the Circulation of different Sorts of circulating Medium, and of the same Sort of circulating Medium at different Times—Error of Dr. A. Smith—Difference in the Quantities wanted for effecting the Payments of a Country in Consequence of this Difference of Rapidity—Proof of this taken from Events of 1793 —Fallacy involved in the Supposition that Paper Credit might be abolished
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      V
      Of the Balance of Trade—Of the Course of Exchange—Tendency of an unfavourable Exchange to take away Gold—Of the Probability of the Return of Gold—Of the Manner in which it may be supposed that exported Gold is employed on the Continent—Reasons for having renewed the Law for suspending the Cash Payments of the Bank of England
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      VIII
      Of the Tendency of a too great Issue of Bank Paper to produce an Excess of the Market Price above the Mint Price of Gold.—Of the Means by which it creates this Excess, namely, by its Operation on the Price of Goods and on the Course of Exchange.—Errors of Dr. A. Smith on the Subject of excessive Paper.—Of the Manner in which the Limitation of the Quantity of the Bank of England Paper serves to limit the Quantity and sustain the Value of all the Paper of the Kingdom
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    3
    1802 On the Paper Credit of Great Britain By Francis Horner
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    4
    1804 On the Effects of the Bank Restrictions By Lord Peter King
  • 1810 The High Price of Bullion By David Ricardo
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      Introduction
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      High Price of Bullion,: A Proof of The Depreciation of Bank Notes
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    6
    1810 Report from the Select Committee on the High Price of Bullion By House of Commons
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    7
    1811 Depreciation of Paper Currency By Thomas Robert Malthus