Title page from Money and the Mechanism of Exchange

Money and the Mechanism of Exchange

Jevons’s formative 1875 classic work came into print at the height of interest in gold, silver, and international monetary standards. Of particular interest are the clear discussions of Gresham’s Law (Ch. VIII), competitively supplied money (Ch. VII), and fractional-reserve- and Free-banking (Ch. XVII-XVIII and XXIV). Jevons is best known for his work on marginal utility, which he describes with customary succinctness in the book.