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Henry Dunning MACLEOD


Henry Dunning MACLEOD, economist.


MACLEOD, Henry Dunning was born in 1821 in Edinburgh, Scotland.


Bachelor of Arts, Master of Arts University of Cambridge, Cambridge, United Kingdom, 1843, 1863.


Whilst his work on banking was widely appreciated in his day, as an economist he was shunned by the establishment and failed to obtain a university chair. (His implication in the failure of the Royal British Bank had brought him a conviction for conspiracy to defraud, which partially explains his isolation.) Though an original thinker, particularly on the theory of value, his frequently restated views failed to be accepted as the new departure which he claimed them to be. He was responsible for the invention of the term ‘Gresham’s Law’.

Lawyer; employed by Govt, to prepare digest of laws on bills of exchange,1868-1870.