Ricardo and Thornton on the Transfer Mechanism

Abstract

I. Scope of paper, 292. — II. Basic gold standard model introduced by Hume, 293. — III. Extension of basic model by Ricardo, 294. — IV. Thornton's refinements of theory, 297. — V. Working of models under paper standard, 298. — VI. Analysis of subsidy payments in both models, 300. — VII. Conclusion, 301.