The Credit System in France, Great Britain, and the United States.

The Credit System in France, Great Britain, and the United States is a comparative study by Henry Charles Carey (1793-1879), the Philadelphia economist whose works defined the American protectionist school of political economy. Published in 1838, the book compares the banking, currency, and commercial credit arrangements of the three countries and the recurrent financial crises of the 1830s. Carey writes from a perspective sympathetic to American manufacturing and critical of the deflationary tendencies he saw in the British model and in the policies of Andrew Jackson’s administration. The book argues that sound credit, stable money, and a protective tariff together produce rising wages and falling interest rates. It is one of his earliest full-length works and is the bridge between his initial pamphleteering and the mature system of his Principles of Political Economy. Free PDF download available on BDeBooks.