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BARONS See also: English title of See also: Lord See also: North of her son See also: William
See also: Henry
See also: John North (b
.
2836) succeeded as 11th Kirtling was created for
See also: Edward North (c
.
1496-1564), son of baron, the title now being See also: separate from that of Guilford
.
See also: Roger North, a See also: London citizen, in 15J4; he was a successful NORTH, See also: SIR See also: DUDLEY (1641-1691), English economist,
lawyer, clerk of the parliament (1531) and chancellor of the See also: court was 4th son of Dudley, 4th Lord North, who published, of augmentations (1545)• His second son was Sir See also: Thomas North besides other things, Passages
See also: relating to the Long Parliament,
(q.v.), and he was succeeded as 2nd baron by his son Roger (1S3o- 1 See also: Gardiner's See also: Civil War, iv
.
285
.
1600), a prominent courtier and soldier of See also: Queen See also: Elizabeth's 2 Roger North's Autobiography, ed. by A
.
Jessopp, 68
.
of which he had himself been a member
.
He was
See also: born on the 16th of May 1641
.
In his early years he was carried off by See also: gipsies and recovered with some difficulty by his family—an incident curiously similar to that which befell See also: Adam See also: Smith in his
See also: infancy
.
He engaged in See also: foreign See also: trade, especially with See also: Turkey, and spent a number of years at Constantinople and See also: Smyrna
.
Some notices of the See also: manners and customs of the See also: east were printed from his papers by his See also: brother
.
Having returned to London with a considerable See also: fortune, he continued to prosecute trade with the See also: Levant
.
His ability and knowledge of commerce attracted the See also: attention of the See also: government, and he was further recommended by the influence of his brother Lord Guilford
.
During the Tory reaction under See also: Charles II. he was one of the sheriffs forced on the city of London with an express view to securing verdicts for the
See also: crown in See also: state trials
.
He was knighted, and was appointed a See also: commissioner of customs, afterwards of the See also: treasury, and again of the customs
.
Having been elected a member of parliament under See also: James II., " he took," says Roger North, " the place of manager for the crown in all matters of revenue." After the Revolution he was called to account for his alleged unconstitutional proceedings in his office of
See also: sheriff
.
He died on the 31st of See also: December 1691
.
His See also: tract entitled Discourses upon Trade, principally directed to the cases of the See also: interest, coinage, clipping and increase of See also: money, was published anonymously in 1691, and was edited in 1856 by J
.
R
.
M`Culloch in the Select Collection of Early English Tracts on Commerce printed by the See also: Political See also: Economy See also: Club of London
.
In this thorough-going and emphatic assertion of the See also: free-trade See also: doctrine against the See also: system of prohibitions which had gained strength by the Revolution, North shows that See also: wealth may exist independently of gold or See also: silver, its source being human industry, applied either to the cultivation of the See also: soil or to manufactures
.
It is a See also: mistake to suppose that stagnation of trade arises from want of money; it must arise either from a glut of the home market, or from a disturbance of foreign commerce, or from diminished See also: consumption caused by poverty
.
The export of money in the course of See also: traffic, instead of diminishing, increases the See also: national wealth, trade being only an See also: exchange of superfluities
.
Nations are related to the See also: world just in the same way as cities to the state or as families to the city
.
North emphasizes more than his predecessors the value of the home trade
.
With respect to the interest of capital, he maintains that it depends, like the price of any commodity, on the proportion of demand and supply, and that a low See also: rate is a result of the relative increase of capital, and cannot be brought about by arbitrary regulations, as had been proposed by Sir Josiah See also: Child and others
.
In arguing the question of free trade, he urges that every See also: advantage given to one interest over another is injurious to the public
.
No trade is unprofitable to the public; if it were, it would be given up; when trades thrive, so does the public, of which they See also: form a See also: part
.
Prices must determine themselves, and cannot be fixed by See also: law; and all forcible interference with them does harm instead of See also: good
.
No See also: people can become See also: rich by state regulations,—only by See also: peace, industry, freedom and unimpeded economic activity
.
It will be seen how closely North's view of things approach to that embodied some eighty years later in Adam Smith's See also: great See also: work
.
North is named by Wilhelm Roscher as one of that " great triumvirate " which in the 17th century raised the English school of economists to the foremost place in See also: Europe, the other members of the See also: group being See also: Locke and See also: Petty
.
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