First edition of one of the earliest books to define modern banking in English, used as an important reference work by Adam Smith during the research for and writing of The Wealth of Nations, especially regarding the estimates of the precious metals imported into Europe; Smith cites its author as "Mr Meggens." Nicolas Magens (1697-1764) was a prominent 18th-century merchant, banker, and shipowner, and a pioneering figure in international trade. A native of the Duchy of Holstein, Magens moved to London in the 1730s, where he married a British wife and was naturalised in 1737 by a Private Act. Magens became particularly involved in the trade between Britain and the colonies in North America, and indeed was a leading proponent of the establishment of a free trade agreement between Britain and the American colonies.
With the armorial bookplate featuring the motto "loyal yet free" of the Goodricke family, baronets of Ribston, Yorkshire. Likely the copy of Sir John Goodricke (1708-89), 5th Baronet of Ribston. His son Sir Henry Goodricke, 6th Baronet of Ribston (d. 1802), served as a diplomat in the Low Countries and published a book in Latin on jurisprudence. The binding shows very slight signs of wear, the spine and extremities of the boards have been professionally restored, minor staining. Otherwise in good condition and altogether an important publication in the invention of modern banking in Europe. Higgs 749; Kress 5283.