Locke, John

Estimate

4,000 - 6,000 USD

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Description

Locke, John
Further considerations concerning raising the value of money· Wherein Mr. Lowndes’s arguments for it in his late Report concerning An essay for the amendment of the silver coins, are particularly examined. London: A and J Churchill, 1695
paper, ink, leather

8vo (150 x 90 mm). Title browned with a few light stains, intermittent toning. Contemporary calf; joints rubbed.

Literature

Wing L2746; Kress 1906; Goldsmiths' 3128

Catalogue Note

first edition of a key work on fiscal policy, wherein Locke opposes Secretary of the Treasury William Lowndes plan to raise the nominal value of silver coinage and not have the value determined solely by its weight. Locke was a firm believer in the value of a coin being in direct relation of the amount of precious metal and the overall quantity in circulation. This issue was raised in part by the influx of foreign silver and to Lowndes view necessitated the role of a central bank in setting value to currency.