Lombard Street:

London: Henry S. King & Co.,, 1873. The work Keynes labelled "an undying classic" First edition of Bagehot's hugely influential analysis of the British financial system. Lombard Street makes the far-reaching argument that the Bank of England ought to alter its gold reserves in response to economic cycles. The work was considered authoritative well into the 20th century, with the Palgrave observing that "The wonderful clearness of Bagehot's power of statement, his exact knowledge of the subject treated on, together with his firm grasp of economic theory, have caused this volume to exert an influence which few books on a subject naturally so dry have possessed". The title - after London historic financial street - reflects Bagehot's focus on "concrete realities" (p. 1), and particularly his emphasis on the economic role of the Bank. Octavo. Original brown cloth, spine and covers lettered and ruled in gilt and black respectively, dark green coated endpapers, Burn & Co. binder's ticket to rear pastedown. With 32-page publisher's catalogue bound in at rear. Joints, extremities, and inner hinges neatly restored, light bumping and rubbing, minor foxing and toning throughout: a very good copy. Masui, p. 133. Mark Blaug, Great Economists before Keynes, 1997.