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Lombard Street:
New York: Scribner, Armstrong & Co.,, 1873. A Description of the Money Market. Octavo. Original brick red net-grain cloth, titles to spine and front board gilt, abstract decorations in black, pale yellow endpapers. Ownership stamp and inscription in ink of Edward A. Moen to front endpapers and initial blank, with received stamp dated October 11 1873. Spine ends frayed, corners worn, pale mark to font board; a very good copy, partly unopened. First US edition, published the same year as the first UK edition and bound to the same design except for the publisher's name in gilt at the foot of the spine. Described by J. M. Keynes as "an undying classic", Lombard Street analyses the operation of the British financial system, focusing on the economic role of the Bank of England. Bagehot's recommendation that the Bank alter gold reserves based on economic cycles was highly influential, and the book was considered authoritative into the 20th century. "The wonderful clearness of Bagehot's power of statement, his exact knowledge of the subject treated on, together with his firm grasp of economic theory, have caused this volume to exert an influence which few books on a subject naturally so dry have possessed" (Palgrave I, p. 81).
      [Bookseller: Peter Harrington]
Last Found On: 2018-02-27           Check availability:      Biblio    

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