The Theory and Practice of Banking: With the Elementary Principles of Currency, Prices, Credit, and Exchanges: Volume 1

Macleod Macleod

ISBN 10: 0371351197 / ISBN 13: 9780371351192

Published by HardPress Ltd, 2019

About this Item

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Bibliographic Details

• Title: The Theory and Practice of Banking: With the Elementary Principles of Currency, Prices, Credit, and Exchanges: Volume 1
• Publisher: HardPress Ltd
• Publication Date: 2019
• Language: English
• ISBN 10: 0371351197
• ISBN 13: 9780371351192
• Binding: Paperback / softback
• Condition: New
• Weight: 526 grams

About this title

Synopsis

The Theory And Practice Of Banking: With The Elementary Principles Of Currency, Prices, Credit, And Exchanges by Henry Dunning Macleod. The work is a landmark attempt to treat monetary science as a formal, scientific discipline by defining terms and axioms, tracing the evolution of currency and banking, and applying a consistent, theory-driven method to price, interest, credit, and exchanges. Macleod argues that currency is transferable debt, that credit is capital, and that the forces of demand and supply chiefly govern value, with the mint price of gold serving as a standard of measurement rather than a fixed standard of value. The Introduction explains the need for precise definitions and lays out the six core chapters (Definitions, Theory of Price, Substances used as currency, Interest and Discount, Theory of Credit, Theory of Exchanges) and the rise of banking. The text then surveys ancient and medieval banking, from Jewish and Greek moneylenders to Venetian, Scottish, and English banks, and includes an Appendix on coinage history and monetary policy. The book presents a systematic critique of prevalent theories and offers a method for economic analysis grounded in monetary science.