Excerpt from The High Price of Bullion: A Proof of the Depreciation of Bank Notes The quality of utility, beauty, and scarcity, says Drmith, are the original foundation of the high price of those metals, or of the great quan tity of other goods for which they can every Where be exchanged. This value was antecedent to, and independent of their being employed as coin, and was the quality which fitted them for that employ ment. 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.

David Ricardo's classic work on the depreciation of bank notes is a must-read for anyone interested in the history of economics. Drawing on his own experience as a stockbroker and economist, Ricardo presents a clear and compelling argument for the relationship between the price of gold and paper currency. With its lucid reasoning and impressive scholarship, The High Price of Bullion is a seminal work in the history of monetary theory. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Friend to, colleague of, and influence on the likes of James Mill, Jeremy Bentham, and Thomas Malthus, revolutionary British writer DAVID RICARDO (1772-1823) was one of the foundational thinkers of classical economics, developing theories of rent, wages, profits, value, and labor that continue to dramatically impact economic philosophy today.Here, in one volume, are two of his profoundly significant essays: In 1810's "The High Price of Bullion" Ricardo calls for the adoption of a metallic currency. And "An Essay on Profits," from 1815, contains Ricardo's arguments against protectionism in Britain's national policy, and was instrumental in the eventual defeat of the country's tariffs on agricultural products.____________________________________ALSO FROM COSIMO: Ricardo's Principles of Political Economy and Taxation