But of this subject of paper credit we shall treat more largely hereafter. And I shall finish this essay on money, by proposing and explaining two observations, which may, perhaps, serve to employ the thoughts of our speculative politicians.
There is an unexplained break in Torrens’ development as a monetary controversialist that has intrigued and worried students of his work. Torrens began his monetary writing as an extreme antibullionist: his 1812 Essay on Money and Paper Currency had a strong inflationist ring about it and emphasized vividly the virtues of a paper currency. However, he later appeared to make a complete about-face and to end his career as defender of the currency school. This contradiction has been partly resolved by the recent discovery by D. P. O’Brien of an unpublished paper written by Torrens in 1826 entitled “On the Means of Establishing a Cheap, Secure and Uniform Currency” (1826). Here Torrens outlined a modification of Ricardo’s plan for a gold exchange standard, hoping thereby to achieve the elasticity of currency that he had hankered for as an antibullionist and avoid the dangers of excess that (presumably) had forced him into the bullionist camp.
I wrote the following essay on money for a class I’m taking
People don’t talk about how much money they have in this country. I wrote the following essay on money for a class I’m taking. I hope it’s not too much or too little information.