Note 225 — Chapter IV
Reading edition
Cf. Contemporary Review for March, 1887. It is interesting to note that essentially the same plan was suggested 115 years before Prof Marshall by James Stewart when his advice was sought by the East India Company as to the method of reforming the then chaotic currency of Bengal. He refrained from pressing it upon the Company because he thought “mankind were not all philosophers.” Cf. his Principles of Money as applied to the Present State of the Coin of Bengal (2nd Edition, 1772), pp. 8–11; cf. also William Ward, On Monetary Derangements, in a Letter addressed to the Proprietors of Bank Stock, London, 1840, p. 8.