Inquiry into the Principles of Political Oeconomy Volume 2

Andrew S Skinner, Noboru Kobayashi, Hiroshi Mizuta

• VOLUME II: BOOK II CHAP. XXIV. What is the proper method to put a stop to a foreign trade in manufactures, Chap . XXV. When a rich nation finds her foreign trade reduced to the articles of natural produce, CHAP. XXVI. Of the vibration of the balance of wealth between the subjects of a modern state, Chap . XXVII. Circulation, and the balance of wealth, objects worthy of the attention of a modern statesman, Chap . XXVIII. Circulation considered with regard to the rise and fall of the price of subsistence and manufactures, CHAP. XXIX. Circulation with foreign nations, the same thing as the balance of trade, Chap . XXX. Miscellaneous questions and observations relative to trade and industry, CHAP. XXXI. Recapitulation of the second book, AN BOOK III Of Money and Coin PART I The principles of money deduced, and applied to the coin of Great Britain Chap . I. Of money of “account“, Chap . II. Of artificial or material money, Chap . III. Incapacities of the metals to perform the office of an invariable measure of value, Chap . IV. Methods which may be proposed for lessening the several inconveniences to which material money is liable, Chap . V. Variations cinc which the value of the money-unit is exposed from every disorder in the coin, CHAP. VI. How the variations in the intrinsic value of the unit of money must affect all the domestic interests of a nation, CHAP. VII. Of the disorder in the British coin, so far as it occasions the melting down or the exporting of the specie, Chap . VIII. Of the disorder in the British coin, so far as it affects the value of the pound sterling currency, Chap . IX. Historical account of the variations of the British coin, Chap . X. Of the disorder of the British coin, so far as it affects the circulation of gold and silver coin, and of the consequences of reducing guineas to twenty shillings, CHAP. XI. Method for restoring the money-unit to the standard of Elizabeth, and the consequences of that revolution, Chap . XII. Objections stated against the principles laid down in this inquiry, and answers to them, Chap . XIII. In what sense the standard may be said to have been debased by law; and in what sense it may be said to have suffered a gradual debasement by the operation of political causes. CHAP. XIV. Circumstances to be attended to in a new regulation of the British coin, CHAP. XV. Regulations which the principle This inquiry point out as expedient to be made, by a new statute for regulating the British coin, 1. Regulation as to the standard, 2. As to the weight, 3. Mint price, 4. Denominations, 5. Marking the weight on the coin, 6. Liberty to stipulate payment in gold or silver 7. Creditors may demand payment, halfin gold, and halfin silver, 8. Regulations as to sale, 9. Ditto as to payments to and from banks, AN 10. All coin to be of full weight when paid away, 11. Liberty to melt or export coin, but death to clip or wash, 12. Rule for changing the mint price of the metals, 13. When to change the mint price, 14. Rule for changing the denomination of the coins, 15. How contracts are to be fulfilled, after a change of the denomination has taken place, 16. The weight of the several coins never to be changed, except upon a general recoinage of one denomination at least, 17. Small coins to be current-“or 20 years only”, and large coins for 40 years or more. 18. All foreign coins to pass for bullion only Consequences of these regulations CHAP. XVI. State of the British coin in 1773, at the time of passing the coin act.