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Ricardo's Exchange Remedy, with a subtitle of "A Proposal to Regulate the Indian Currency by Making it Expand and Contract Automatically at Fixed Sterling Rates, With the aid of the Silver Clause of the Bank Act," presents a detailed plan for managing currency exchange in British India. Authored by Alexander Martin Lindsay and inspired by the economic theories of David Ricardo, this historical work delves into the complexities of maintaining stable exchange rates during a period of significant economic change. Lindsay's proposal offers a unique perspective on how to use the existing Bank Act and the silver standard to achieve automatic currency regulation.
This book is of particular interest to economists, historians, and anyone studying the economic history of British India and the evolution of currency regulation. It provides valuable insights into the challenges and proposed solutions for maintaining economic stability in a colonial context. The detailed analysis and historical context make "Ricardo's Exchange Remedy" a significant contribution to the understanding of 19th-century monetary policy.
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