The principles which should govern the commercial intercourse of nations, do not differ from those which regulate the dealings of private individuals. - Robert Peel

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The principles which should govern the commercial intercourse of nations, do not differ from those which regulate the dealings of private individuals.

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About Robert Peel

Sir Robert Peel, 2nd Baronet (5 February 1788 – 2 July 1850) was a British Conservative statesman who served twice as Prime Minister of the United Kingdom (1834–1835 and 1841–1846) simultaneously serving as Chancellor of the Exchequer (1834-1835) and twice as Home Secretary (1822–1827 and 1828–1830). He is regarded as the father of modern English policing, owing to his founding of the Metropolitan Police Service. Peel was one of the founders of the modern Conservative Party.

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Alternative Names: Sir Robert Peel, 2nd Baronet Sir Robert Peel Peel Collection [2nd Bart.] 2nd Bart. Sir Robert Peel Robert, Sir, 2nd Bart. Peel Robert, 2nd Baronet Peel Sir Robert Peel, 2nd Bt Sir Robert Peel (1788-1850) Robert, Sir Peel Robert Peel (1788-1850) 2nd Baronet Peel
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Each town and each country will command the amount of currency which it requires for its own purposes, undisturbed in the slightest degree by consulting its manifest interest, namely, by purchasing that which it wants in the cheapest market. [Derisive cheers.] Yes, by purchasing that which it wants in the cheapest market. You consider this a very low and unworthy principle; that it is a doctrine of the Manchester school; that it is a novel doctrine of some speculative political philosophers, and that it may be safely rejected. But this doctrine of purchasing in the cheapest market is not a doctrine of speculative philosophers only. It is not a doctrine introduced by modern economists. It is, no doubt, a doctrine sanctioned expressly and directly by the authority of Adam Smith. It is the doctrine of Say and of Hume. It is opposed to a doctrine which was fashioned some eighty or ninety years since, of which such writers as Montesquieu and Voltaire were the patrons; but Smith, and Say, and Hume, demonstrated the true principles which ought to regulate the commercial policy of a nation.

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