Observations On The Report Of The Committee Of The House Of Commons - Softcover

Edward Thornton

Softcover

ISBN 10: 0461849666 ISBN 13: 9780461849660

Publisher: HardPress, 2020

Synopsis

Observations On The Report Of The Committee Of The House Of Commons, Appointed To Inquire Into The High Price Of Gold Bullion.: Together With Some Remarks On The Work Of Francis Blake. Entitled, Observations On The Principles Which Regulate The Course Of Exchange, And On The Present by Edward Thornton. This work presents a meticulous examination of monetary depreciation, arguing that the high price of bullion and shifts in exchange are primarily driven by foreign exchanges rather than domestic over-issuance. Thornton distinguishes actual depreciation (coin debasement or discredited paper) from virtual depreciation (increased circulation due to rising wealth) and critiques the nominal exchange theory advanced by Blake and the House of Commons Committee. He proposes that corrective measures should emerge from the dynamics of exchange, bullion movements, and banking discipline, rather than abrupt policy overhauls. The treatise analyzes the Bank of England, Hamburg’s banking system, and bullion remittance as key factors shaping domestic and international prices, and cautions against hasty repeal of wartime monetary restrictions, advocating gradual adjustment aligned with exchange realities.

Edition details

• Publisher: HardPress
• Publication date: 2020
• Language: English
• ISBN 10: 0461849666
• ISBN 13: 9780461849660
• Binding: Paperback
• Number of pages: 191