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Encyclopedia Britannica



TOOKE, THOMAS (1774-1858)

This article appears in Volume V27, Page 14 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: THE-TOO
TOOKE, THOMAS (1774-1858) , English economist, was born at St
Petersburg
  on the 29th of
February
  1774. Entering a large Russian
house
  in London at an early age, he acquired sound
practical
  experience of commercial matters and became a recognized authority on finance and banking. He was one of the earliest
advocates
  of free
trade
  and drew up the Merchants'
Petition
  presented to the
House
  of Commons by Alexander Baring, afterwards Lord
Ashburton
 . He gave evidence before several parliamentary committees, notably the committee of 1821, on foreign
trade
 , and those of 1832, 1840 and 1848 on the Bank Acts. He was elected a fellow of the Royal Society in 1821. He died in London on the 26th of
February
  1858.
Tooke was the author of Thoughts and Details on the High and Low Prices of the last Thirty Years (1823), Considerations on the State of the Currency (1826), in both of which he showed his hostility to the policy afterwards carried out in the Bank Act of 1844, but he is best known for his History of Prices and of the State of the Circulation during the Years 17931856 (6 vols., 18381857). In the first four volumes he treats (a) of the prices of corn, and the circumstances affecting prices; (b) the prices of produce other than corn; and (c) the state of the circulation. The two final volumes, written in conjunction with W. Newmarch (q.v.), deal with railways, free trade, banking in Europe and the effects of new discoveries of gold.


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