Items related to An Essay On The Principles Of Commercial Exchanges

An Essay On The Principles Of Commercial Exchanges - Softcover

John Leslie Foster

 
9780461848632: An Essay On The Principles Of Commercial Exchanges

Synopsis

An Essay On The Principles Of Commercial Exchanges, And More Particularly Of The Exchange Between Great Britain And Ireland: With An Inquiry Into The Practical Effects Of The Bank Restrictions" by John Leslie Foster. The work analyzes the distinction between the balance of trade and the balance of debt, arguing that the balance of debt cannot be permanently favorable or unfavorable and examining how foreign expenditure and remittances affect Ireland and Britain. It explains how the Bank Restrictions have influenced exchange rates, bullion flows, and Ireland's economic prospects, including the role of absentees and the loans from England. The treatise uses historical data to illustrate how an excessive circulating medium and restrictions distort prices, trade, and payments, and discusses the relationship between the balance of debt, exchange rates, and national wealth. It proposes remedies, notably limiting the circulating medium as a general remedy and reviews the Select Committee’s recommendations to convert Bank of Ireland notes into Bank of England notes in order to restore equilibrium. Appendix data provide exchange rates and value measures, reflecting foundational monetary theory and policy in the early 19th century.

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