Jonathan Duncan (currency reformer)
Encyclopedia
Jonathan Duncan was a British advocate of reforming the monetary system.
He was born in Bombay
while his father (also called Jonathan Duncan
) was governor there. He graduated with a B.A.
from Trinity College, Cambridge
in 1821.
In the years up to 1841, he wrote a number of history books about Russia, religious wars in France, and Guernsey
. In 1846, he was editor of a newspaper called The Sentinel, and presented a petition to Parliament criticizing Frederic Festus Kelly
, chief inspector of letter-carriers.
In 1846, he wrote the tract "How to reconcile the rights of property, capital, and labour" for the Currency Reform Association. In 1847 he wrote a tract for the National Anti-Gold Law League, arguing that the size of the circulation
should be determined by supply and demand. He opposed bullionism
and Sir Robert Peel
's banking and monetary laws, and the monetary policies of Samuel Jones-Loyd
.
Other publications included "The Principles of Money demonstrated, and Bullionist Fallacies refuted" (1849) and "The Bank Charter Act
: ought the Bank of England or the People of England to receive the Profits of the National Circulation?" (1858).
From 1846 to 1853 he lived at No. 13 Chester Place, Kennington (this address was later known as 255 Kennington Road, Lambeth
, London
).
He was born in Bombay
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
while his father (also called Jonathan Duncan
Jonathan Duncan (Governor of Bombay)
Jonathan Duncan was Governor of Bombay from 27 December 1795 until his death in 1811.He began his career in India in 1772, and in 1788 was appointed superintendent and resident at Benares by Lord Cornwallis, where he helped stamp out the practice of infanticide...
) was governor there. He graduated with a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
from Trinity College, Cambridge
Trinity College, Cambridge
Trinity College is a constituent college of the University of Cambridge. Trinity has more members than any other college in Cambridge or Oxford, with around 700 undergraduates, 430 graduates, and over 170 Fellows...
in 1821.
In the years up to 1841, he wrote a number of history books about Russia, religious wars in France, and Guernsey
Guernsey
Guernsey, officially the Bailiwick of Guernsey is a British Crown dependency in the English Channel off the coast of Normandy.The Bailiwick, as a governing entity, embraces not only all 10 parishes on the Island of Guernsey, but also the islands of Herm, Jethou, Burhou, and Lihou and their islet...
. In 1846, he was editor of a newspaper called The Sentinel, and presented a petition to Parliament criticizing Frederic Festus Kelly
Frederic Festus Kelly
Frederic Festus Kelly was a high official in the British Post Office. He was also the founder of Kelly & Co. , which published the Kelly's Directory, a sort of Victorian-era "Yellow Pages" that listed all businesses, tradespeople, local gentry, landowners, charities, and other facilities located...
, chief inspector of letter-carriers.
In 1846, he wrote the tract "How to reconcile the rights of property, capital, and labour" for the Currency Reform Association. In 1847 he wrote a tract for the National Anti-Gold Law League, arguing that the size of the circulation
Circulation (currency)
The social system in which we live has usually developed to the stage for money to be used as the medium for the exchange of goods and services. Hence the money is an important aspect of the general social or macroeconomics system...
should be determined by supply and demand. He opposed bullionism
Bullionism
Bullionism is an economic theory that defines wealth by the amount of precious metals owned. Bullionism is an early or primitive form of mercantilism...
and Sir Robert Peel
Robert Peel
Sir Robert Peel, 2nd Baronet was a British Conservative statesman who served as Prime Minister of the United Kingdom from 10 December 1834 to 8 April 1835, and again from 30 August 1841 to 29 June 1846...
's banking and monetary laws, and the monetary policies of Samuel Jones-Loyd
Samuel Jones-Loyd, 1st Baron Overstone
Samuel Jones-Loyd, 1st Baron Overstone was a British banker and politician.-Background and education:Loyd was the only son of Reverend Lewis Loyd and Sarah, daughter of John Jones, a Manchester banker...
.
Other publications included "The Principles of Money demonstrated, and Bullionist Fallacies refuted" (1849) and "The Bank Charter Act
Bank Charter Act 1844
The Bank Charter Act 1844 was an Act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England....
: ought the Bank of England or the People of England to receive the Profits of the National Circulation?" (1858).
From 1846 to 1853 he lived at No. 13 Chester Place, Kennington (this address was later known as 255 Kennington Road, Lambeth
Lambeth
Lambeth is a district of south London, England, and part of the London Borough of Lambeth. It is situated southeast of Charing Cross.-Toponymy:...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
).