A

HISTORY

OF

PRICES,

AND OF

THE STATE OF THE CIRCULATION,

FROM 1793 To 1837;

PRECEDED BY

A BRIEF SKETCH OF THE STATE OF THE CORN TRADE
IN THE LAST TWO CENTURIES.

BY

THOMAS TOOKE, ESQ. F.R.S.

IN TWO VOLUMES.

VOL. II.

LONDON:

PRINTED FOR

LONGMAN, ORME, BROWN, GREEN, AND LONGMANS,

PATERNOSTER-Row.

1838.

brary

AB 221 767 1.2

LONDON:
Printed by A. SPOTTISWOODE,
New-Street-Square.

N,

conval be

ation of with that comprises

› imputed in raising paper and

ich has just the present about to be

the one emand 1814, to rise of prices

SECT. 1. Variations of the cern trade in 1823, with reference to the as-

serted influence of an enlarged circulation of paper in that year

SECT. 2. Prices of agricultural produce from 1824 to 1827, examined

in connection with the circulation

-

SECT. 3, State of markets for produce and commodities other than

corn, from 1823 to 1825

Page

120

132

140

154

SECT. 4. Speculations in foreign loans and in shares in 1824 and 1825 148

SECT. 5. Fall of the prices of goods after the spring of 1825

SECT. 6. Recoil of markets for loans and shares after the spring of

1825

158

SECT. 7. Commercial discredit and pressure on the money market

following the spring of 1825

State of the prices and of the circulation from the com-

mencement of 1828 to the close of 1832

SECT. 1. Prices of corn from 1828 to 1832

- 209

214

223

SECT. 2. State of markets for produce and commodities other than

corn from 1828 to 1832

SECT. 3. State of the circulation from 1828 to 1832

SECT. 4. Summary of the preceding survey

CHAPTER X.

State of prices and of the circulation, from the commence-

ment of 1833 to the close of 1837

SECT. 1. Fall of the prices of wheat from the harvest of 1832 to the

close of 1835

SECT. 2. State of trade and manufactures, and prices of commodities,

from the commencement of 1833 to the close of 1835

SECT. 3. Prices of agricultural produce in 1836 and 1837

SECT. 4. State of markets for produce other than those of agricultural

produce, in the years 1836 and 1837

SECT. 5. Joint-stock banks, and other joint-stock companies, and the

speculations in the shares of these from 1833 to 1837

SECT. 6. State of the circulation from the commencement of 1833 to

the close of 1837

SECT. 7. Summary of the preceding survey

CHAPTER XI.

General view of conclusions to be derived from the pre-

ceding historical sketch of prices; and concluding re-

marks on the currency

- 346

SECT. 1. General view of the causes of the high prices from 1793 to

1814

- 346

SECT. 2. General view of the causes of the decline and comparatively

low range of prices from 1814 to 1837

348

SECT. 3. Concluding remarks

349

APPENDIX

355

PART IV.

HISTORICAL SKETCH OF PRICES, AND OF THE STATE OF THE CIRCULATION, FROM 1792 TO 1837.

(Continued from Vol. I.)

CHAPTER VI.

STATE OF PRICES AND OF THE CIRCULATION,
FROM 1814 TO 1818.

THE epoch which is now to come under consideration, embraces nearly the whole interval between the close of the war and the termination of the Bank restriction. And this interval, with that which has just passed under review, comprises nearly all the debateable ground of the imputed effects of the suspension of cash payments in raising prices beyond the difference between paper and gold.

As in the instance of the epoch which has just passed, it will be found convenient in the present to make a subdivision of the interval about to be examined into two periods; namely, the one embracing the fall of prices from 1813 and 1814, to 1816 and 1817; and the other, the rise of prices from 1816 and 1817 to 1818.