Front Page Titles (by Subject) 113.: grenfell to ricardo1 - The Works and Correspondence of David Ricardo, Vol. 6 Letters 1810-1815
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113.: grenfell to ricardo1 - 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.
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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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grenfell to ricardo1
Spring Garden 25th August 1815
My dear Sir,
I have desired my Bookseller Mr. Bagster to send you Allardyce,2 which he thinks he shall be able to do in the course of this day in which Case you will have the goodness to return me my Book, but if he should fail herein, you will take mine out of Town with you—Yours will be sent to me by Bagster, and we may exchange them the first time you come to Town again, there being some references in pencil in the beginning of my Book, which would make me prefer it to another Copy—
I inclose one of my Bank Papers, which I moved for, for the purpose of calculating what the Bank would have had to pay for Stamps on their Circulation of Notes last Year, supposing them to have used Stamps3 —The Calculation upon which I founded this paper, is amongst my Papers at Taplow, from whence I will send you a Copy of it.—The Result upon Arithmetical Proof shewed that supposing Bank Notes to last three Years, the Bank ought to have paid for Stamps at the rate of their Circulation (not their issue for you will be aware of the difference between their issue and what may be called their permanent circulation) £80,879. -. - 4 exclusive altogether of the Stamp Duties on their Bank post Bills, of which I had no distinct account,1 when I formed this Calculation, instead of which they paid no more than £42,000.
I also calculated upon the best parliamentary Documents, produced upon the Subject, that from the Year 1799 to 1815 the amount of Stamp Duty upon the Bank circulation would
was lost to the Public and gained to the Bank in consequence of the injudicious Bargains made with them by Lord Sidmouth in 1804, and by Mr. Percival in 1808, upon this subject, and which System would no doubt have been continued, but for the discussions which took place in the House of Commons in the last sessions hereon; notwithstanding what the Bank directors and the Chancellor of the Exchequer have said to the contrary since the discussion took place.2
(Just leaving Town) I am My dear Sir, very truly Yours
[1 ]MS in R.P.—Dictated; only the signature is in Grenfell’s hand.
[2 ]See above, p. 242.
[3 ]Probably ‘An Account of the Amount of Bank Notes in Circulation on the 1st and 15th days of each Month, from the 1st of June 1814 to the 15th of May 1815 inclusive; distinguishing the Amount of Notes under the following Classes...’, ordered by the House of Commons to be printed, 7 June 1815. (Parliamentary Papers, 1814–15, vol. x.)
[4 ]Replaces ‘£99,572. 0. 0’.
[1 ]Cp. letter 112, postscript.
[2 ]On the question of Stamp Duties, see above, IV, 94–5.