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An Inquiry into the Principles of Political - Steuart,Sir James - 1767. 
The Governor of Madras's copy of the first important English work on political economySTEUART, Sir James. An Inquiry into the Principles of Political Oeconomy. London, A.Millar and T.Cadell 17672 volumes, quarto, contemporary calf, a little rubbed and scuffed, spines with five raised bands ruled in gilt, red morocco labels lettered gilt and oval green morocco labels numbered gilt, top of spines worn, hinges with short splits but firm and holding, xvpp + (1p) errata + (6) + 639pp; (8) + 646pp + (6) + (1) errata, 2 folding tables, engraved armorial bookplate of Thomas Munro, an excellent copy preserved in a cloth box. Â£10,000Provenance: Sir Thomas Munro (1761-1827) Colonial administrator in India and Governor of Madras. Son of the Glasgow merchant trading with Virginia Alexander Munro. Educated at Glasgow grammar school and Glasgow University studied mathematics under Professor Williamson, and chemistry with the celebrated Dr Irvine and also studied political economy. After service in the infantry in India he held various posts in colonial administration in India. Appointed in charge of Canara; and then for another seven year (1800-1807) he was placed in charge of the northern district "ceded" by the Nizam of Hyderabad, where he introduced the ryotwari system of land revenue; served as brigadier-general during the third Maratha War (1817â18); 1819-1827 Governor of Madras. His Papers are in the John Rylands University Library.Kress 6498. Goldsmith 10276. Blaug, Great Economists before Keynes, pp.241-242. Schumpeter, History of Economic Analysis, p.176. Palgrave, III, pp.475-476. Gleig, Life of Munro, 1830.FIRST EDITION. The first important English work on political economy. James Steuart (1712-1780) is represented as someone who produced a systematic treatment of economics, but in pre-Physiocratic form. Although his book was first published in 1767, the main elements of the argument were established in isolation in Germany in the late 1750's. David Hume is reported as being critical of the 'form and style' of the work but 'exceedingly pleased' with it as an 'ingenious performance' when he looked it over in manuscript in 1766. Whilst Steuart's interventionist economic principles provoked Adam Smith to refute them in The Wealth of Nations, recent commentary has emphasized the continuity in Scottish economic thought from David Hume to James Steuart to Adam Smith. He gradually enjoyed some attention from the members of the German Historical School in the 19th Century. More recently he has been hailed as a forerunner of the 'economics of control' and the concept of development planning.Steuart also wrote an important but rarely found work on Indian currency The Principles of Money applied to the present state of the coin of Bengal 1772.
[Bookseller: Hamish Riley-Smith Rare Books]
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