CHILD, Josiah. Traités sur le commerce.
Amsterdam-Berlin, Jean Neaulme, Paris, Guérin & Delatour, 1754
First French edition of the “Brief observations concerning Trade and Interest of Money”, in the translation by Vincent de Gournay and G.M Butel-Dumont. Josiah Child, 1630-1699, principal shareholder of the East India Company, later embarked on a political career. This work had a certain influence in the tradition of English mercantilism. The author advocates the statutory imposition of very low rates of interest as a means of securing general prosperity, and presents the Navigation Acts as better suited to the needs of defense than to the interests of commerce. Together with William Petty and Dudley North, he is one of the representatives of the English school of precursors of economics, formed by international trade.
Shumpeter: “… this Discourse deals with the practical problems of its time—employment, wages, money, exchanges, exports and imports, and so on—in the light of clearly adumbrated ‘laws’ of the mechanism of capitalist markets; though not explicitly worked out, the tool that we call equilibrium theory is, as it were, present behind the scene. […] Child’s reputation as an economist, besides suffering from the general prejudice against ‘mercantilist’ writings, also suffered from a fact that is of great interest to the sociologist of science. Child was a leading businessman, in fact the very incarnation of the most hated big business of that age: he was chairman and for some years the undisputed leader of the East India Company, besides being personally very wealthy. Accordingly, he was unpopular in his time, and so he has remained for over 250 years, historians being careful to clear their skirts of the ‘monopolist’ and ‘special pleader’ (scilicet for his personal interest).”
Quérard, La France littéraire, Vol. II, p. 189; Kress 5335; Goldsmiths 8910; Higgs 746; Shumpeter, History of economic analysis, 1954, p. 189.
Small 8vo. 170x105 mm. Contemporary leather binding, gilt decorations and label on the spine. Pages XII, 483, numbered by mistake 283. Slight defects on the binding, occasional foxing, overall a good copy.