The Nobel Prize economist Allais obtained the most prestigious of commendations for his pioneering contributions to the theory of markets and efficient utilization of resources. In this paper Allais takes issue with a note by J.L. Scadding, published in the same journal in March 1972, ‘on various aspects of the reformulation of the Quantity Theory of Money which I have put forward. Although his comments seem to me to rest on factual errors and paralogisms, they are well worth discussing, for Scadding’s view of the basic significance of the new hereditary and relativistic theory seems to be shared by some economists’ (p. 454).

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TATE, William.

The modern cambist; forming a manual of foreign exchanges, in the direct, indirect, and cross operations of bills of exchange and bullion; including an extensive investigation of the arbitrations of exchange, according to the practice of the first British and foreign houses. With numerous formulae and tables of the weights and measures of other countries, compared with the Imperial standards. Third edition, with extensive alterations and addtioins [sic].

Third edition, corrected and expanded to reflect changes in the monetary systems of Portugal and Geneva, a new coinage introduced by the East India Company and the opening of trade with China. There is also a new appendix which discusses the mintage regulations for the coins of the United States, reflecting the increasing importance of currency exchanges between the United States and the United Kingdom. The section on trade with China is of particular interest as the Canton system described by Tate only lasted another six years before the Treaty of Nanjing, signed on 29 August 1842, ended the First Opium War and laid the foundation for a new system of Chinese foreign relations and overseas trade that lasted for over one hundred years.

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SAY, Léon.

Les solutions démocratiques de la question des impots. Conférences faites à l’École des science politiques … Tome premier [– second].

First edition. Léon Say (1826–1896), grandson of Jean-Baptiste Say, ‘became one of the most prominent statesmen of the French Third Republic. He served as Finance Minister from 1872 to 1879, and again in 1882, overseeing the largest financial operation of the century – payment of war reparations in Germany. His financial policies were directed toward a decrease in public expenditures and the removal of barriers to internal trade. A brilliant speaker and debater, he railed against socialism from the left and protectionism from the right … Upon leaving the Cabinet, Say returned to his seat in parliament, assuming the leadership of the free trade party. He was at one time considered for the presidency of the republic, but was gradually set apart from his constituency by a rising tide of radicalism’ (The New Palgrave).

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