Front Page Titles (by Subject) 79.: trower to ricardo2 - The Works and Correspondence of David Ricardo, Vol. 6 Letters 1810-1815
The Online Library of Liberty
A project of Liberty Fund, Inc.
Search this Title:
79.: trower to ricardo2 - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 6 Letters 1810-1815 
The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 6 Letters 1810-1815.
About Liberty Fund:
Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.
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.
Fair use statement:
This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit.
trower to ricardo2
Unsted Wood—Godalming March 10—3
Many thanks for your Essay,4 which I have been reading with very great interest. I highly approve of the view you take of the subject and concur in the objections you make to some of Malthus’ arguments.—He seems to me to labor hard to prove, what is self evident, but which if admitted, will not bear him out in his conclusions. No doubt the higher the price the farmer obtains for his produce the greater is the encouragement to encrease that produce, but where is this argument to stop, has it no limits; and may not the same reasoning be applied with equal propriety to manufactures? The reason of the thing is unquestionably against him, but still I admit, that the necessities of the present case require some moderate, temporary, measure to prevent any sudden and great shock to the farmers, and to let them down easily. That they cannot go on long at the present rents and prices I believe, but then they should look to their landlords and not to the public for relief. This is the natural remedy, and which is even now in a course of operation.
What you say on the subject of rent is very important and interesting, and your table very ingenious. With respect to the question, whether the surplus arising from improved agriculture and diminished wages, belongs to rent or profit, I confess it appears to me, that it cannot be asserted to belong positively to either. If the average profits of the farmer should be on a level with the profits of capital otherwise employed at the time the surplus arises, in that case I think it would fall into the rent, but should the farmers profit be below the general average then I think it would be added to those profits, and under other circumstances it might be divided between rent and profit.—The columns of our paper are filled with the disgraceful and dangerous [procee]dings of your London Mobs,1 against which I am very indignant— Odi profanum vulgus—and if I were to consider this question with the eye of a moralist, rather than that of a statesman, I should strenuously recommend that employment of the public industry which leads to the peaceful pursuits of agriculture, in which
With silent course that no loud storms annoy
Glides the smooth current of domestic joy.2
We shall be in town in the course of a fortnight when I shall hope to have the pleasure of seeing you. Mrs. Trower unites with me in best compliments to Mrs. R. and family and I remain
Yrs very sincerely
[2 ]Addressed: ‘To / David Ricardo Esqr / Upper Grosvenor Street / Grosvenor Square’.
[3 ]Omitted in MS. Postmark illegible; paper watermarked 1814. The contents leave no doubt as to the year.
[4 ]Essay on Profits.
[1 ]See above, p. 180, n. 2.
[2 ]Goldsmith’s Traveller, 433.