Wrote on theory and policy of banking in his retirement from business. Regulation.. was a considerable success and frequently drawn on by later writers, including Marx. The book arose from the controversy over Peel’s Act of 1844, but the general soundness and accessibility of its argument ensured its long-term success.
His argument was that of the ‘Banking school’, in which convertibility of notes is regarded as the only requirement for stability of the currency. Surgeon and banker, India, since 1813.