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    Sir James Steuart's Important Work
    on Economics and Banking

    Sir James Steuart. An Inquiry into the Principles of Political Oeconomy; being an Essay on the Science of Domestic Policy in Free Nations. In Three Volumes. Dublin: James Williams and Richard Moncrieffe, 1770. First edition. Three octavo volumes. Half-title, Subscriber's List, and ad in volume I, and the rare folding Table of Coins inserted at the rear of volume III. Bound in near contemporary full sheep, spines ruled and numbered in gilt in compartments, five raised bands, burgundy gilt morocco lettering labels. Bindings somewhat worn, hinges starting (yet solid), rear endleaves in each volume damaged (most likely by biopredation) and dampstained, last few leaves of each volume with light dampstain, some foxing and thumbsoiling in text. Volumes I and II with a previous owner's pencil signature on the title-page. With an interesting inscription on the front free endpaper of volume I in an unknown contemporary ink hand: "The Inquiry of Sir James Steuart is learned and profound; but it is clogged with prejudices, and obscured [the "d" is almost invisible] by a stile [sic] uncouth and almost unintelligible; it has therefore been of more utility to author's [sic] than to the Public - Adam Smith, with inferior Powers + less information, but with more art [?] of management, and greater perspicacity [?] of Language, has attracted more attention and been of greater service in stimulating political inquiries." Overall, a very good copy.
    "In the Principles, Steuart made notable contributions to economic theory: the historical analysis of the origins of the exchange economy, where he (like Adam Smith) was influenced by David Hume; to the theory of economic development with its emphasis on the importance of interdependent sectors; to the theory of competitive price, and, most notably, to the treatment of money and banking, where he showed his appreciation of banks as a means of mobilizing resources in countries undergoing the process of institutional, as well as economic, change." (ODNB).

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    4th-5th Wednesday-Thursday
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