On the Probable Fall in the Value of Gold

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As a result of Peel’s Bank Act of 1844 and the discovery of gold in California in 1848 a dramatic increase in the amount of gold entered into circulation. Richard Cobden translated an expanded version of Chevalier’s essay in order to bring to world attention the thoughts of this French free market economist on the impact these events would have on the value of gold and other commodities.

On the Probable Fall in the Value of Gold: The Commercial and Social Consequences which may ensue, and the Measures which it invites. Translated from the French, with preface, by Richard Cobden, Esq. (New York: D. Appleton and Co., 1859).

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