This general introduction to the theory of money and of balance of payments adjustment was originally published in 1969. It was the first book to pay full attention to the theory of assets: the relation of the supply of assets to the demand for holding them and the significance of asset movements for balance of payments adjustment. Written in simple language and with brevity, the book is intended for the student with a general knowledge of economics and economic institutions, but with no specialised knowledge of these topics.
1. Confusion Between Credit and Money in the Political Economy of the Eighteenth Century 2. Eighteenth-Century Theories of the Action of the Precious Metals on the Price Level and on the Rate of Interest 3. Thornton, Ricardo and the Bullion Report 4. Tooke the Historian and Ricardo the Logician 5. Tooke, Creator of the Credit Theory 6. Gold Output and Price Movements (1850-1936) 7. The Action of Gold and of the Discount Rate on Prices 8. The General Theory of Money at the Beginning of the Twentieth Century 9. Theory of Central Banks of Issue