The Coming of Age of Political Economy, 1815-1825

By Gary F. Langer | Go to book overview
Save to active project

Money and Distress

Political Economy is making rapid progress in this country. Everyday correct principles advance . . . The proceedings in parliament last sessions gave great satisfaction to the friends of the science. The true principles of currency were at length solemnly recognized; and I should hope we never again can go astray.

Ricardo to Say ( 11 January 1820)1

The period 1815-1825 was one of lively controversy over a great many issues having to do with the operation of the monetary system. Judging from the number of pamphlets and review articles devoted to it, money was the most discussed economic topic of the age. It was also a topic, as this chapter will try to show, in connection to which political economy and the political economists obtained a great deal of notoriety. Moreover, it was a topic in regard to which the authority of political economy as a science became very influential. The expert advice of political economists was attentively listened to by social paragons the likes of the Duke of Wellington, and the effort to reason about money consistently with sound principles of political economy became a goal pursued in the highest circles of the ruling class. The politically ascendent Robert Peel became a public convert to the Ricardian position.

The topic also notably provoked a scientific heresy on the part of several-- some, like Malthus, with close connections to the tradition. In response to such heresies, an orthodoxy formed around the Ricardians in opposition to the heretics. The government, as noted, which had notoriously failed to heed the counsel of political economy in relation to the Com Law, ostentatiously lined up with the Ricardians and exploited Ricardo's scientific reputation to their own political advantage.


Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Cite this page

Cited page

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
The Coming of Age of Political Economy, 1815-1825


Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 226

matching results for page

Cited passage

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?