The moral law of accumulation; the substance of two discourses, delivered in the First Baptist Meeting House, Providence, May 14, 1837
Providence: published by John E. Brown, 1837. 8vo, pp. 35, [1]; removed from binding, wrappers wanting, all else very good. The depression of 1837 was, according to Wayland, the result of God's wrath for the nation's investing its rapidly increasing wealth in leisure and licentiousness, rather than in cultivating the love of the beautiful, the true, and the good. President of Brown University, Wayland championed the laissez-faire theory of economics. His book, The Elements of Political Economy, published the same year as this pamphlet, was the most widely used American text of its time, and reached many non-academics though abridgements in encyclopaedias. "The immediate cause of the crisis, he explained in the Moral Law of Accumulation, was the intense fever of speculation and consequent overissue of notes and crtedit in the absence of a Bank of the United States" (Dorfman). Not in Bartlett or Sabin; American Imprints 48397; Starr, Baptist Bibliography W-2009. Item #57100
Price: $150.00
