Inquiry into the Nature and Origin of Public Wealth First Edition - James Maitland - Bauman Rare Books

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Inquiry into the Nature and Origin of Public Wealth

James MAITLAND

Item#: 55703 We're sorry, this item has been sold

Inquiry into the Nature and Origin of Public Wealth

“WEALTH IS EVERYTHING THAT POSSESSES UTILITY”: MAITLAND ON SMITH’S WEALTH OF NATIONS- THE COPY OF HENRY DUNDAS, FIRST VISCOUNT MELVILLE

MAITLAND, James. An Inquiry into the Nature and Origin of Public Wealth, and into the Means and Causes of Its Increase. Edinburgh and London: Arch. Constable and T.N. Longman & O. Rees, 1804. Octavo, contemporary full brown tree calf rebacked, red morocco spine label.

First edition of James Maitland, Earl of Lauderdale’s discourse on public wealth, in which he argues against Adam Smith’s concept of “value.”

In 1796 James Maitland, Earl of Lauderdale, called the attention of the House of Lords to the state of the public finances, but at the time did not offer a formal resolution. Instead he embarked upon a series of writings on the subject. In 1804 he published his Inquiry, which attracted considerable attention, partly because in it Maitland chose to criticize Adam Smith as “the person who has struggled most to establish the opinion, that labor may be considered as an accurate measure of value.” For Maitland, “wealth is everything that possesses utility; but individual riches possess utility and scarcity. These two elements determine value” (Roll, 307). Maitland also disagreed with Smith’s contention that there is never “too much” capital and that every saver is a public benefactor (Niehans, 80, 86). Large folding table at rear. Kress 4816. Goldsmiths 18801. Contemporary armorial bookplate of Henry Dundas, First Viscount Melville, “the most powerful man in Scotland… for nearly 30 years” (DNB). Dundas began his career in law as Solicitor General for Scotland; throughout his later career, he was committed to increasing the economic strength of his country and managing the public wealth. Small ink shelf number on title page.

A fine copy with distinguished provenance.

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Aquatint Copperplate process by which the plate is “bitten” by exposure to acid. By changing the areas of the plate that are exposed and the length of time the plate is submerged in the acid bath, the engraver can obtain fine and varying shades of gray that closely resemble watercolor washes. Although the name contains the word “tint”, this is a black-and-white printing process; aquatint plates can often be hand colored, however.
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