J O N K E R S R A R E B O O K S
71. RICARDO, David THE HIGH PRICE OF BULLION A Proof of the Depreciation of Bank Notes John Murray, 1811,. Fourth edition with additional appendix. Bound to style in recent half red morocco with gilt rules on marbled boards, gilt titles and two raised bands to spine detailed in gilt. A very good copy, with some foxing throughout. [46533] £8,500 Ricardo’s rare first separately published work, which focuses on how English Bank Policy was the catalyst for the “Bullionist Controver- sy” leading a committee to be established to analyse the rising cost of gold. Ricardo argued that banknotes should always be immediately con- vertible into gold to avoid inflation, because if the value of paper notes issued did not exceed the value of gold or silver coins available it would always be possible to sell them abroad for the same value as another country’s currency, meaning English currency could not fall too far in value. Ricardo used this tract to show that the increasing price of bullion
72. RICARDO, David AN ESSAY ON THE INFLUENCE OF A LOW PRICE OF CORN ON THE PROFITS OF STOCK Shew- ing the Inexpediency of Restrictions on Importation John Murray, 1815,. Second edition. Bound to style in recent half red morocco with gilt rules on marbled boards, gilt titles and two raised bands to spine detailed in gilt. A near fine copy, some light foxing to the preliminary pages, otherwise very clean. [46534] £6,000 A scarce early work by Ricardo which calls for a return to importing cheaper foreign corn arguing that the Corn Laws and their tariffs on importation were detrimental to growers rather than protecting them. Ricardo argued that restricting foreign importation increased the de- mand on domestic farmers thus increasing rent for prime productive land, and benefiting the land owning gentry at the expense of industri-
al capitalists who contrib- uted directly to the econ- omy rather than passive- ly benefiting from it.
was due to an excess of inconvertible paper notes being issued, made possible by the Bank of England sep- arating paper money from gold. The work was imme- diately influential on economic policy de- bates and was reprint- ed quickly. This fourth edition appeared just a year after the first, expanded in form with an additional appendix. Copies are seldom seen in commerce with no copy at auction for more than 50 years.
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