Background
STEUART, James Denham was born in 1712 in Edinburgh, Scotland.
(Excerpt from The Works, Political, Metaphysical, and Chro...)
Excerpt from The Works, Political, Metaphysical, and Chronological, of the Late Sir James Steuart of Coltness, Bart, Vol. 2 of 6 What is the proper Method to put a Stop to a foreign Trade in Manufactures when the Balance of It turns against a Nation? It must not be understood, from what was said Book in the last chapter, that so soon as the balance of foreign trade, either on the whole, or on any branch of manufacture, is found to be against a nation, that a statesman should then at once put a total flop to it. This is too violent a remedy ever to be applied with success. It is hardly possible, that a considerable revolution in the trade of a nation should happen suddenly, either to its advantage, or disadvantage, unless in times of civil discord, or foreign wars, which at present do not enter into the question. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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(Excerpt from The Works, Vol. 5 of 6: Political, Metaphysi...)
Excerpt from The Works, Vol. 5 of 6: Political, Metaphysical, and Chronological The Princes of Hindostan have in all ages considered the coining of money as an appendage of sovereignty, as well as a branch of revenue. The practice of giving arbitrary denominations to certain coins, beyond the proportion of their intrinsic value with respect to others, is an abuse of very old standing; and nothing can be more contrary to .every principle, by which the precious metals have been adopted, as a measure for ascertaining the worth, and as a medium of commerce, or an equivalent for all commodities. From the most early accounts we have of the mercantile transactions of mankind, we find silver and gold, and even baser metals, made use of as equivalents for the purchase of goods. The proportion of the value of the equivalent was reckoned by the purity of the metal and mass which it contained. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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(By proceeding in this plain track, and by keeping princip...)
By proceeding in this plain track, and by keeping principles conflantly in view, the mofl perplexed fy Items of borrowing, funding, ftock-jobbing, coining and re-coining of money, changing the weight, finenefs, and denominations of fpecie, circulating paper in conjunaion with it, impofing upon mankind with bubbles and bankruptcies, and calling them operations of public credit, may be rendered intelligible to the mofl flender capacity. Many of thefe topics have been already explained, and difmiffed. This will enable us to contract the plan of what remains in proportion to the objefts it is to comprehend. Public credit wq have defined to be, the confidence repofed in a ftate, or body politic, borrowinomoney, on condition that the capital fliall not be demandabic, but that a certain proportional part of the fum fhall be annually paid, either in lieu of interefl, or in extinction of part of the capital; for tne fecurity of which payment, a permanent annual fund is appropriated, with a liberty, hovever, to the ftate to free itfelf, by repaying the whole, when nothing to the contrary is ftipulated. In this dcfmition I have put in an alternative, of paying a perpetual interefl for the money borrowed. (Typographical errors above are due to OCR software and don't occur in the book.) About the Publisher Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology. Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text. Read books online for free at www.forgottenbooks.org
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(Princes of Hlndoftan have iii all ages confidered the coi...)
Princes of Hlndoftan have iii all ages confidered the coining of money as an appendage off vereignty, as well as a branch of revenue. The pra6lice of giving arbitraiy denominations to certain coins, beyond the proportion of their intrinfic value with refpedi: to others, is an abufe of very old (landing; and nothing can be more contrary to ,every principle, by which the precious metals have been adopted, as a meafure for afcertaining the worth, and as a medium of commerce, or an equivalent for all commodities. From the moll early accounts we have of the mercantile tranfadions of mankind, we find filver and gold, and even bafer metals, made ufe of as equivalents for the purchafe of goods. (Typographical errors above are due to OCR software and don't occur in the book.) About the Publisher Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology. Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text. Read books online for free at www.forgottenbooks.org
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STEUART, James Denham was born in 1712 in Edinburgh, Scotland.
Jacobite exile, whose continental travels provided abundant material for his Inquiry. The Book is an expression of the Scottish philosophical school of the eighteenth century,
couched in sophisticated mercantilist terms. His view of society was dynamic: free nations succeeding slave societies, and states passing through various phases of development.
Government should intervene when necessary in the operations of the market and little advantage is to be gained from free trade.
His ideas were little noticed in Britain but received some attention from the German Historical School.
(By proceeding in this plain track, and by keeping princip...)
(Princes of Hlndoftan have iii all ages confidered the coi...)
(Excerpt from The Works, Political, Metaphysical, and Chro...)
(Excerpt from The Works, Vol. 5 of 6: Political, Metaphysi...)