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2015-09-12 00:52:40
Malthus,Thomas Robert
Autograph letter signed to William Blake. East India College, April 29th 1822
Octavo, quarto, 7.3 x 9.1 ins, 3 pages + integral address leaf, in ink, small paper tear with loss when originally opened, endorsed in black ink on address leaf in a contemporary hand Malthus April 1822, and with circular red ink postal stamp F 30APR30 1822 and red lettered postal stamp of the village of Hoddesdon, original fold marks,original black wax seal, preserved in a cloth box, in fine condition.Professor Christophe Depoortère, of the University of Paris, comments on this letter:1. Malthus assertion: "I believe our principal difference is as to names. I do not know what to call a rise of prices which lasts for many years and extends to all commodities, but a fall in the value of the currency, in whatever way it might be occasioned" (Malthus to Blake, f.1r.-f1v.).This is probably a comment on the passage from Blake?s pamphlet running from page 10 to 13. Indeed, as Hollander noted (1985, 637), Malthus shared the Bullionist definition of the term "depreciation" and called "depreciated" a money which no longer conformed to its standard. Then, as stated by Ricardo, the high price of gold bullion becomes a proof of the depreciation of bank notes. Depreciation is then a fall in the value of money compared to the standard (gold). However, in his pamphlet, Blake called "depreciation" a change in the value of money "as compared with allother commodities" (Blake 1822, 11). This, as Malthus commented, is a fall in the value of money but not necessarily a depreciation of money. Indeed, such a fall may be the consequence of two different causes. The first one when a money is depre … [Click Below for Full Description]
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