BALDWIN, Loammi.

Thoughts on the Study of Political Economy, as connected with the population, industry and paper currency of the United States ...

Cambridge, Mass., Hilliard and Metcalf, 1809. 8vo, pp. 75, [1] blank; spotting to the final two leaves and offsetting and light browning thoughout, but still a good copy in recent boards. First edition. ‘Loammi Baldwin [1780–1838], Harvard graduate and eminent Massachusetts engineer, decided in 1809 that the answer to all the raging economic problems was the study of political economy by statesmen in the light of the data to be revealed by the census of 1810.‘Political economy has recently become systematized, he declared in his Thoughts on the Study of Political Economy. It combines the investigation of natural objects with the study of the human passions. It is the “association of physical qualities with moral affections, which makes the great object of statistical researches” so as most effectively to aid the progress of national happiness … The study and application of political economy deserves the encouragement, patronage, and assistance of government … However, this country cannot go by European models and experience, for its situation is different, especially with our federal compact and diversity of employments. Therefore everything in relation to political economy must be original’ (Dorfman I, p. 339f).‘Baldwin advocated, as a remedy for the evils of the irregular currency of the time, that the state banks be consolidated, and that the capital of the United States Bank be extended. He favoured internal improvements in his country, and displayed more than ordinary appreciation of the use of statistics; he also advised that the United States census of 1810 should include a record of births, deaths, and marriages’ (Palgrave).Kress B.5478; not in Einaudi or Goldsmiths’; not in Mattioli.

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