Front Page Titles (by Subject) (A 2): [Torrens on Ricardo] - The Works and Correspondence of David Ricardo, Vol. 4 Pamphlets and Papers 1815-1823
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(A 2): [Torrens on Ricardo] - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 4 Pamphlets and Papers 1815-1823 
The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 4 Pamphlets and Papers 1815-1823.
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First published by Cambridge University Press in 1951. Copyright 1951, 1952, 1955, 1973 by the Royal Economic Society. This edition of The Works and Correspondence of David Ricardo is published by Liberty Fund, Inc., under license from the Royal Economic Society.
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[Torrens on Ricardo]
If there is any surplus in the form either of profit or of rent the labour of a man must produce more than the subsistence of a man. I will therefore say for the sake of illustration that a days labour produces two days subsistence.
A has a capital produced by 50 days labour and consisting of subsistence for 90 and flax equivalent to subsistence for 10 and employs 90 labourers in converting the flax into lace; B has a capital produced by 50 days labour and consisting of subsistence for 10 and flax equivalent to subsistence for 90 and employs 10 labourers in converting the flax into coarse cloth.
Now in this case the lace and the cloth will be of equal value because they are the results of the employment of equivalent capitals and the results of equivalent capitals must be equivalent otherwise the profits of stock will not be equal.
But though the lace and the cloth are of equal value they are not the products of equal quantities of labour. The subsistence and material advanced for [the]1 production of the lace was raised by 50 days labour [and 90] days were employed in working it up; while [the] subsistence and material advanced for the production of the cloth was raised by 50 days labour and only 10 days were employed in working it up. In the one case 140 days labour are employed; in the other case only 60 days labour are employed.
Ricardo objects to this case and says that I should not take into the calculation the labour employed on producing the subsistence. I do not admit the validity of this objection but for argument I concede the point and throw out the labour which produces the subsistence. The case then stands thus. To prepare the lace 90 days labour are employed on material produced by 5, to prepare the cloth 10 days labour are employed upon material produced by 45 days labour. Yet still the value of the lace and the cloth must be equal because the two articles cannot be produced but by the expenditure of equivalent capitals.
[1 ]MS torn here and below.