[ECONOMICS] KELLOGG, Edward; KELLOGG PUTNAM, Mary, [ed.]

A New Monetary System: The Only Means of Securing the Respective Rights of Labor and Property, and of Protecting the Public from Financial Revulsions

New York: Kiggins, Tooker & Co., 1868. Stated fourth edition. 12mo (19cm). In tan printed paper wraps; [i]-xvi [17]-366pp. A stable copy, with wrappers showing general mild wear and soil, spine cracked with losses at head and tail, internally clean though some leaves browned, with single wormhole in lower margin: Very Good.

Kellogg's ideas about interest rates and government-issued paper money were first published in 1843 as "Usury: the Evil and Remedy." He expanded these ideas into a book, Labor and Other Capital, in 1849. The present edition of 1861 was edited by Kellogg's daughter. "Kellogg's chief idea was that interest rates should be based not on the scarcity of credit but on the basic operating costs of banks. 'Kelloggism' had a great influence on such inflationary movements as the Greenback and the Populist." See ADAMS, Radical Literature in America p.49 (first edition). SABIN 37286.

Price: $150.00

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