First edition of an important work long held as the leading principal economics text in American colleges. Wayland (1796–1865) was for twenty-eight years president of Brown University. ‘His notions of political economy and philanthropy dictated that the most important obligations of the state were to foster education and promote morality. Political economy dealt forthrightly with too many controversial issues to be universally popular; his unqualified support of free trade, for example, distressed many in the northern business community’ (ANB). In The Elements ‘he expresses his belief that the works on the subject in general use present the doctrines of the science truly, but not in such order as would be most likely to render them serviceable, either to the general student or to the practical merchant. The work is, therefore, distinctly a text-book – not a contribution to science. As such it was very successful and obtained wide use’ (Palgrave III, p. 660). 

Amex 486; Goldsmiths’ 29814; Hollander 3026; Kress 29814; Sabin 102186.

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