120:(ports where incoming foreign merchants were required to offer their goods for sale before anywhere else) to force merchants from abroad to use their assets to buy English goods and prevent them from transferring gold or silver from England homewards. Milles's opinions, however, were not widely valued. One of his contemporaries wrote, "Milles was so much out of step with the time that his pamphlets had little influence."
116:(1550–1627) and others recommended that England increase exports to create a trade surplus, convert the surplus into precious metals, and hinder the drain of money and precious metal to other countries. England did restrict exportation of money or precious metals around 1600, but Milles wanted to resume using
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Although the supporters of
Bullionism did not write theoretical treatises on the subject (unlike the precursors of the classical school in the following century), they did mobilize many leaders. In 1558 Ortiz wrote a memoir to the king to prevent the exits of gold. The doctrine was developing mainly
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in this region, because the influx of precious metals from
America led to a sharp increase in purchasing power in the short term, which the authors saw as an implicit confirmation of their theory. King
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Irvin L. Jeffery (2008). “Paradigm and Praxis: Seventeenth-Century
Mercantilism and the Age of Liberalism” Ph.D. diss., University of Toledo.
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sale of exchange, par pro pari, by the royal exchanger." He did succeed in creating one of the first economic controversies, and
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Economic theory that defines wealth by the amount of precious metals owned
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owned. Bullionism is an early and perhaps more primitive form of
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had accumulated vast reserves of gold and silver thanks to its
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and money changers would cause a deficit in the
English
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A Treatise of the Canker of
England's Common Wealth
156:The Circle of Commerce: Or, the Balance of Trade
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77:Bullionism was born in what now is known as
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221:Kindleberger, Charles P. (3 June 2015).
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224:A Financial History of Western Europe
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101:of latter Spain and his son King
257:(in French). Sciences Humaines.
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154:opposed him in 1623 in his book
254:Les 100 penseurs de l'Economie
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289:International trade theory
227:. Routledge. p. 33.
109:Examples of bullionists
53:, because of its large
299:Preclassical economics
138:. To ban the flow of
203:John Law (economist)
37:theory that defines
193:Monetary economics
51:Kingdom of England
264:978-2-36106-629-1
234:978-1-136-80578-3
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209:References
31:Bullionism
18:Bullionist
294:Metallism
198:Silverite
183:Metallism
103:Philip II
99:Charles V
162:See also
148:monopoly
35:economic
132:bankers
87:England
73:History
67:bullion
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63:silver
39:wealth
33:is an
144:coins
79:Spain
259:ISBN
229:ISBN
61:and
59:gold
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65:—
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