PREFACE.

The theory which I have attempted to establish in the following
Essay, is precisely the same as that of which I gave a general
analysis in the Prospectus which I published of this work in
1803, under the title of Remarks on Currency and Commerce;
but the detail which was there omitted, is here added, and with
the enlargement I hope there is some improvement.

It may, perhaps, be necessary to offer an apology for present¬
ing to the Public the First Volume only; but the work admits of
a distinct division; the first part relating to the refutation of our
existing commercial system, and the second to the develope-
ment of a new one.