Charles Davenant or D'Avenant was a son of the English poet laureate, playwright and dramatist, Sir William D'Avenant, a famed royalist adventurer whom had at one point been served in the governments of Virginia and Maryland. Charles was educated at Balliol College, Oxforduntilwhen he interrupted his studies to take over the management of his late father's theater in London.
Save Report to the honourable the commissioners, Charles Davenant — was an English mercantilist economist, politician, and pamphleteer. He became manager of his father's theatre. Having taken the degree of LL. In he was elected to Parliament as M. In he applied for Controller of the Excise, with Godolphin 's support, but did not get the position.
He applied again in and Charles davenant essay balance power failed to get the position, probably due to objections by Charles Montaguthe Chancellor of the Exchequer.
In his friends in government, Shrewsbury and Godolphin, were under political attack. Godolphin resigned shortly afterward, and Davenant lost his main supporter for appointment to a public office. Davenant was linked to French agents in Marchand it was suspected, but not proved, that the French government tried to bribe him to promote their interests and to provide intelligence if England declared war on France.
There is evidence that a French agent recommended bribing Davenant, but there is no evidence that "a bribe was ever actually offered or accepted.
In Queen Anne assumed the throne. The Junto Pembroke Ministry was removed from power, and Davenant's friends—Godolphin, Nottinghamand Harley —were placed in positions of power in the Coalition Ministry. In September Davenant was appointed to the Secretaryship of a commission to negotiate for the union of Scotland and England.
Davenant visited Holland in Autumnto research wartime traffic with France. In Godolphin lost his office, which removed one of Davenant's supporters from power and threatened his position as Inspector General of the Imports and Exports.
Sir Thomas Double at Court reversed Davenant's argument for moderation in his Essays upon Peace at Home and War Abroad; and New Dialogues upon the Present Posture of Affairs repeated the attacks on the methods of financing public spending that he had been stating since Works At the age of nineteen he composed a tragedy, Circe.
As an economist, Davenant was a strong supporter of the mercantile theoryand in his economic pamphlets as distinct from his political writings he takes up an eclectic position, recommending governmental restrictions on colonial commerce, but freedom of exchange at home.
Of his writings, a complete edition of which was published in London inthe following are the more important: It attacked long-term borrowing as detrimental to trade, and land taxation as inequitable, because of its uneven incidence across the country.
This work, commissioned by the Lords Justices, was an argument against the majority party's proposal that England's coins should be devalued to pay for the war with France.
In he published A Memorial Concerning a Council of Trade, which promoted his idea that trade should be protected, and A Memorial Concerning Credit and the Means and Methods whereby it may be Restored, generally viewed as an attempt to curry favour with the party in power to gain a post in the Excise department.
Inalso, he published Essay on the East India Trade in which he "opposed the protection of English Textiles against Indian competition on the grounds that commerce with East India improved Britain's balance of trade, and he refuted the arguments of the protectionists with further applications of the balance of trade concept.
The basis for Davenant's argument was that "high taxation for debt service was a burden on trade, industry, and land. It quoted Gregory King 's calculation of the value and size of the "natural resources of England.
At the end of he published A Discourse of Grants and Resumptions, which discussed the practice of the king and queen of England granting "forfeited Irish Estates" to friends and political allies of the Junto party.
His main concern was that the Whig party would restart the war with France and put the country further into debt, which would in turn require greater taxation of land owners. The land owners would be bankrupted, and the people who had made money off the war would be able to buy the land and usurp the political power of the gentry.
His Essays upon Peace at Home and War Abroadpublished November"promoted 'moderation' and the anti-party attitude favoured by the Queen and Harley. Beforehe was the leading promoter of party ideas.
With this essay, he was falling out of favour and gaining a reputation for promoting whatever idea benefits him the most personally. In Davenant proposed compiling trade numbers for the previous 25 years.
The cost of clerks to do the actual tabulation was the primary reason for denial of his request. The goal was to find support for the current policy of permitting trade between France and Holland.
In Davenant published Reflections upon the Constitution and Management of Trade to Africa, in which he "reverted to his normal attitude of suspicion and outright hostility towards the Dutch.
He did go to great lengths to publish the pamphlet anonymously, and was apparently in a difficult financial position; Waddell therefore suggests that this was a work-for-hire and not necessarily something which Davenant actually supported. Although these reports contained a large amount of statistical data, they continued the theme from "New Dialogues upon the Present Posture of Affairs" that Holland benefitted from trade with France while Britain took on heavy debt during the war with France and that trade with France "was or could be advantageous to England.
There is some question whether the Law of Demand was developed by Gregory King and then used in some of Charles Davenant's writings or whether King and Davenant jointly developed the idea based on King's statistical work and published their theory in Davenant's pamphlets.
Davenant is also credited with being the first to discuss the concept of Balance of Trade as being an important part of the financial health of a country.About England’s foreign policy, see Charles Davenant, ‘An Essay upon the Balance of Power’ in Essays, London, 7 in the long run.
A Discourse on Grants and Resumptions and Essays on the Balance of Power () Biography.
Charles Davenant was born in , In he published Essays upon I The Balance of Power II The Right of Making War, Davenant wrote Essay on the East-India Trade. CHARLES DAVENANT (), English economist, eldest son of Sir William Davenant, the poet, was born in London, and educated at Cheam grammar school and Balliol College, Oxford, but left the university without taking a degree.
The Balance of Power: A Brief Prehistory of a Concept. Download. The Balance of Power: A Brief Prehistory of a Concept , see Charles Davenant, ‘An Essay upon the Balance of Power’ in Essays, London, 7 in the long run.
Oct 19, · Charles Davenant was the son of the famous poet and playwright, Sir William Davenant.
Davenant is considered a mercantilist, and as such, he was a strong advocate of a favorable balance of trade. He was also; however, an eclectic and did not follow to the mercantilist stereotype to a t. In his Essay on the East-India Trade.
Charles Davenant was an English economist, politician and pamphleteer. He was Member of Parliament for St Ives (Cornwall), and for Great Bedwyn. An Essay on the probable means of making the people gainers in the balance of Trade. An Essay on the Ways and Means of supplying the War.
The Balance of Power The second The .