The Boyd-Baring Controversy 1797–1801 : The Origin of the Bullionist Controversy and Its Aftermath thereupon

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  • ボイド=ベアリング論争(1797-1801) - 地金論争の源流とその余波 -
  • ボイド ベアリング ロンソウ 1797 1801 ジガネ ロンソウ ノ ゲンリュウ ト ソノ ヨハ

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In this article, I shall clarify fully the theoretical significance of Walter Boyd’s Letter to Mr. Pitt (1801) and the background of this Letter almost for the first time at least in this country. And then I shall argue that it was the Boyd-Baring controversy on the responsibility of the Bank of England for inflation during the Bank Restriction period which, far from being a ‘skirmish,’ not only marked the beginning of the Bullionist Controversy, but also did influence their later generation very much in that they had to research anew what a ‘reasonable limit’ of the issue of the Bank notes should be. And I also emphasize the theoretical ‘turn’ of Sir Francis Baring in later years in favor of Boyd. Finally, I shall trace reference to Boyd in the history of monetary thought of the 19th century and the early 20th century.

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