An Essay on the Theory of Money and Principles of Commerce.
Vol. I.London: printed for T. Cadell and W. Davies, 1807 Stock Code: 129391
"The dedicatee's own copy" - Eric QuayleFirst edition of the first volume of Wheatley's Essay on the Theory of Money; a second volume followed in 1822. In the preface Wheatley notes that "It may, perhaps, be necessary to offer an apology for presenting to the public the First Volume only; but the work admits of a distinct division: the first part relating to the refutation of our existing commercial system, and the second to the development of a new one."
The Essay, which contains criticism of Liverpool's proposals for British coin and paper money, is a major contribution to economic theory, in particular to the analysis of the value of money. Wheatley was probably the first to use the method of index numbers; he also anticipated Ricardo, McCulloch and James Mill in advocating the quantity theory of value.
Dedicated to Lord Grenville, Wheatly writes "from the noble and constitutional principles, which have uniformly governed your actions, and from my admiration of your conduct in every event of your political life, I should be led to solicit the honour of addressing this inquiry to you". Wheatley was a strong defender of Grenville's economic policies, and the final section of the present book acts as an extensive defence of his policies.
According to a note written on the bookplate of the noted British bibliophile and collector Eric Quayle pasted to the front pastedown, "this was the dedicatee's own copy, bought at the sale of some of the Grenville books in Penzance in Feb 1972."
Quarto (265 x 207 mm). Contemporary red straight-grain morocco, twin tan morocco labels to spine, spine richly gilt to compartments, gilt roll-tool border to covers, marbled endpapers, gauffered gilt edges, blue silk bookmark.
5 folding tables.
Spine a little sunned, very light rubbing around extremities, occasional slight foxing. A highly attractive copy.
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