The Online Library of Liberty

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• Preface to Volumes Vi - Ix
• Introductory Notes to the Correspondence
• 1.: Ricardo to Horner
• 2.: Ricardo to Horner
• 3.: Ricardo to Sir Philip Francis
• 4.: Mill to Ricardo1[answered By 5]
• 5.: Ricardo to Mill3[reply to 4—answered By 6]
• 6.: Mill to Ricardo1[reply to 5]
• 7.: Ricardo to Dumont
• 8.: Malthus to Ricardo1[answered By 9]
• 9.: Ricardo to Malthus1[reply to 8.—ANSWERED By 10]
• 10.: Malthus to Ricardo1[reply to 9]
• 11.: Malthus to Ricardo
• 12.: Ricardo to [malthus][fragment]
• 13.: Malthus to Ricardo
• 14.: Ricardo to [malthus] [a Note On the Jamaica Exchange]
• 15.: Malthus to Ricardo 3[answered By 16]
• 16.: Ricardo to Malthus 2[reply to 15.—ANSWERED By 17]
• 17.: Malthus to Ricardo 1[reply to 16]
• 18.: Ricardo to Perceval 1[answered By 19]
• 19.: Perceval (by Rosenhagen) to Ricardo 1[reply to 18]
• 20.: Ricardo to Bentham 2
• 21.: Malthus to Ricardo 1
• 22.: Mill to Ricardo 1[answered By 23]
• 23.: Ricardo to Mill 1[reply to 22.—ANSWERED By 24]
• 24.: Mill to Ricardo 1[reply to 23]
• 25.: Ricardo to Malthus 1[answered By 26]
• 26.: Malthus to Ricardo 1[reply to 25.—ANSWERED By 27]
• 27.: Ricardo to Malthus 1[reply to 26]
• 28.: Malthus to Ricardo1
• 29.: Ricardo to Tierney 1[answered By 30]
• 30.: Tierney to Ricardo1[reply to 29]
• 31.: Malthus to Ricardo1
• 32.: Ricardo to Malthus3[answered By 33]
• 33.: Malthus to Ricardo5[reply to 32]
• 34.: Ricardo to Horner1
• 35.: Malthus to Ricardo2
• 36.: Ricardo to Malthus1[fragment]
• 37.: Ricardo to Malthus1
• 38.: Ricardo to Malthus1
• 39.: Ricardo to Malthus2
• 40.: Ricardo to Malthus 1
• 41.: Ricardo to Malthus2
• 42.: Ricardo to Malthus1
• 43.: Ricardo to Malthus1
• 44.: Ricardo to Trower1
• 45.: Ricardo to Malthus1
• 46.: Ricardo to Malthus1
• 47.: Trower to Ricardo1[answered By 48]
• 48.: Ricardo to Trower1[reply to 47]
• 49.: Mill to Ricardo1
• 50.: Ricardo to Malthus1[answered By 51]
• 51.: Malthus to Ricardo3[reply to 50.—ANSWERED By 53]
• 52.: Ricardo to Bentham and Mill1
• 53.: Ricardo to Malthus1[reply to 51.—ANSWERED By 54]
• 54.: Malthus to Ricardo1[reply to 53.—ANSWERED By 55]
• 55.: Ricardo to Malthus3[reply to 54.—ANSWERED By 56]
• 56.: Malthus to Ricardo1[reply to 55.—ANSWERED By 58]
• 57.: Mill to Ricardo1
• 58.: Ricardo to Malthus1[reply to 56.—ANSWERED By 59]
• 59.: Malthus to Ricardo3[reply to 58.—ANSWERED By 60]
• 60.: Ricardo to Malthus1[reply to 59.—ANSWERED By 62]
• 61.: Mill to Ricardo1
• 62.: Malthus to Ricardo1[reply to 60.—ANSWERED By 64]
• 63.: Sinclair to Ricardo1
• 64.: Ricardo to Malthus1[reply to 62.—ANSWERED By 67]
• 65.: Sinclair to Ricardo1[answered By 66]
• 66.: Ricardo to Sinclair1[reply to 65]
• 67.: Malthus to Ricardo2[reply to 64.—ANSWERED By 70]
• 68.: Mill to Ricardo1
• 69.: Place to Ricardo1
• 70.: Ricardo to Malthus1[reply to 67.—ANSWERED By 72]
• 71.: Ricardo to Say2
• 72.: Malthus to Ricardo1[reply to 70.—ANSWERED By 73]
• 73.: Ricardo to Malthus1[reply to 72]
• 74.: Ricardo to Malthus1[answered By 75]
• 75.: Malthus to Ricardo1[reply to 74.—ANSWERED By 76]
• 76.: Ricardo to Malthus2[reply to 75]
• 77.: Ricardo to Malthus3[answered By 78]
• 78.: Malthus to Ricardo2[reply to 77]
• 79.: Trower to Ricardo2
• 80.: Malthus to Ricardo1[answered By 81]
• Malthus to Horner4
• 81.: Ricardo to Malthus3[reply to 80.—ANSWERED By 82]
• 82.: Malthus to Ricardo2[reply to 81.—ANSWERED By 83]
• 83.: Ricardo to Malthus1[reply to 82.—ANSWERED By 84]
• 84.: Malthus to Ricardo3[reply to 83.—ANSWERED By 85]
• 85.: Ricardo to Malthus1[reply to 84.—ANSWERED By 86]
• 86.: Malthus to Ricardo1[reply to 85.—ANSWERED By 87]
• 87.: Ricardo to Malthus2[reply to 86.—ANSWERED By 88]
• 88.: Malthus to Ricardo1[reply to 87.—ANSWERED By 89]
• 89.: Ricardo to Malthus1[reply to 88.—ANSWERED By 90]
• 90.: Malthus to Ricardo1[reply to 89]
• 91.: Ricardo to Malthus1[answered By 92]
• 92.: Malthus to Ricardo3[reply to 91.—ANSWERED By 93]
• 93.: Ricardo to Malthus1[reply to 92.—ANSWERED By 94]
• 94.: Malthus to Ricardo2[reply to 93]
• 95.: Malthus to Ricardo1[answered By 96]
• 96.: Ricardo to Malthus1[reply to 95]
• 97.: Malthus to Ricardo1
• 98.: Ricardo to Murray1
• 99.: Malthus to Ricardo1[answered By 100]
• 100.: Ricardo to Malthus1[reply to 99.—ANSWERED By 101]
• 101.: Malthus to Ricardo1[reply to 100.—ANSWERED By 103]
• 102.: Trower to Ricardo1
• 103.: Ricardo to Malthus1[reply to 101.—ANSWERED By 110]
• 104.: Grenfell to Ricardo1
• 105.: Whishaw to Ricardo2
• 106.: Say to Ricardo1[answered By 107]
• 107.: Ricardo to Say1[reply to 106.—ANSWERED By 117]
• 108.: Ricardo to [say]1[answered By 117]
• 109.: Mill to Ricardo5[answered By 114]
• 110.: Malthus to Ricardo1[reply to 103.—ANSWERED By 116]
• 111.: Grenfell to Ricardo1
• 112.: Grenfell to Ricardo1[fragment]
• 113.: Grenfell to Ricardo1
• 114.: Ricardo to Mill3[reply to 109.—ANSWERED By 134]
• 115.: Grenfell to Ricardo1
• 116.: Ricardo to Malthus2[reply to 110.—ANSWERED By 126]
• 117.: Say to Ricardo1[reply to 107 & 108]
• Say to Ricardo
• 118.: Grenfell to Ricardo1
• 119.: Grenfell to Ricardo1
• 120.: Trower to Ricardo1[answered By 136]
• 121.: Grenfell to Ricardo1
• 122.: Grenfell to Ricardo1
• 123.: Grenfell to Ricardo1
• 124.: Grenfell to Ricardo1
• 125.: Grenfell to Ricardo1
• 126.: Malthus to Ricardo5[reply to 116.—ANSWERED By 127]
• 127.: Ricardo to Malthus1[reply to 126.—ANSWERED By 128]
• 128.: Malthus to Ricardo1[reply to 127.—ANSWERED By 130]
• 129.: Malthus to Ricardo1[answered By 130]
• 130.: Ricardo to Malthus1[reply to 128 & 129.—ANSWERED By 137]
• 131.: Malthus to Ricardo2[answered By 132]
• 132.: Ricardo to Malthus1[reply to 131.—ANSWERED By 137]
• 133.: Grenfell to Ricardo1
• 134.: Mill to Ricardo1[reply to 114.—ANSWERED By 135]
• 135.: Ricardo to Mill1[reply to 134.—ANSWERED By 138]
• 136.: Ricardo to Trower2[reply to 120.—ANSWERED By 141]
• 137.: Malthus to Ricardo3[reply to 130 & 132]
• 138.: Mill to Ricardo2[reply to 135]
• 139.: Malthus to Ricardo1
• 140.: Ricardo to Mill2[answered By 142]
• 141.: Trower to Ricardo1[reply to 136.—ANSWERED By 147]
• 142.: Mill to Ricardo1[reply to 140.—ANSWERED By 143]
• 143.: Ricardo to Mill3[reply to 142.—ANSWERED By 145]
• 144.: Ricardo to Malthus1[answered By 148]
• 145.: Mill to Ricardo1[reply to 143.—ANSWERED By 149]
• 146.: Malthus to Ricardo1[answered By 150]
• 147.: Ricardo to Trower1[reply to 141.—ANSWERED By 154]
• 148.: Malthus to Ricardo1[reply to 144.—ANSWERED By 150]
• 149.: Ricardo to Mill1[reply to 145.—ANSWERED By 151]

135.

ricardo to mill1
[Reply to 134.—Answered by 138]

Gatcomb Park 24^th. Oct^r. 1815

My dear Sir

I have been absent in London for nearly a fortnight the greatest part of which time your letter lay here waiting my return home. I lose no time in thanking you for it, and returning my answer. Against much of what you say concerning the noble and honourable houses I have nothing to offer. I have no doubt that your principle is correct, but I think you apply it too rigidly. It appears to me that you allow too much force to the stimulus of money, and the praise of Princes, and too little to the effect of public opinion, and the consciousness of deserving approbation.—With some men these latter rewards are held so valuable that there are no difficulties which they will not incur to obtain them, which shews that badly constituted as the two houses may be in not securing every motive on the side of duty, yet that there is a natural corrective in every nation which possesses the forms of a free government which will considerably ameliorate the evil of its institutions. I do not urge this as an argument for the continuance of the evil, but as a proof that you are severe in your judgement when you say that there is no virtue to be found mixed up along with the vice. After all it is no prejudice to suppose that the high born would under similar circumstances act differently and better than the low born. Where would be the advantages of education if the balance of virtue were not on the side of those who received it, and if it did not in some measure teach us to raise our thoughts above the mere covetousness of money? Is not Montesquieu too severe when he says not only that all men are disposed to abuse the power they possess, but also to carry that abuse to its utmost limits?

Now for a little family history. My sister Sally was during my stay in London safely delivered of a girl. We were all apprehensive that this severe trial in her weak state would be too much for her, but she has had better nights and her skin has been less irritable since than before her accouchement. Her spirits too are improved. The child happily is healthy, strong and without a spot, and the interest which it excites in her has given a new hue to the prospect before her. Hope has not yet forsaken us that she may still recover, and enjoy health with more delight than any of us, from the contrast which it will form to the gloomy state from which it will commence its date.— Ralph returned from Paris the day after I left London.— I have not yet seen him, but I understand that he is delighted with his journey.—He received very kind attention from Mons^r. Say, to whom I gave him a letter.1

Here at Gatcomb we go on much as usual,—we are always full of visitors, some of which make great demands on my time. I often say that I must go to London for retirement, for here not only have I to entertain the visitors who are staying with us, but all our Gloucestershire neighbours, living within 10 miles, in all directions, are very much inclined to be sociable, so that with them we have to find time, not only for the visit, but for the journey also. At the present moment we are full to overflowing. Last night we had a dance and sat down to supper a party of no less than 49 which did not disperse before 4 oClock this morning. I have been satisfied with four hours bed, not so my guests, which has given an opportunity of writing to you. Mr. and Mrs. Basevi are here, they have a house at Cheltenham and have come home for a few days. Mr. and Mrs. Clutterbuck are also among our guests and I am glad to say that the latter is looking better than she has done for many months.

After giving you this detail of our proceedings you will not be surprised to hear that I have done very little in the way of studying or writing. As the affairs of the Bank are to be considered next session, I have been putting my thoughts on paper respecting their concerns. I have endeavored to shew that a well regulated paper currency is less variable in its value than a metallic currency, and therefore more desirable. I have recommended a simple plan to obviate the scarcity of money, which, to the distress of the mercantile world, always takes place before the payment of the national dividends. I have again pointed out the advantages which would result from making paper convertible into bullion and not into specie. After which I have followed the ground of Mr. Grenfell, and have endeavored to shew that the Government in its last agreement with the Bank for a participation of the advantages resulting from the public deposits, and the management of the public debt, made a very improvident bargain for the public, and recommend more caution in the agreement now about to be made. Finally I have attempted to calculate the present treasure of the Bank, and have insisted (very disinterestedly for I have only £500 Bank stock) on the right of the proprietors of Bank Stock to a division of their enormous gains.—I have shewn it to Mr. Grenfell and to Mr. Malthus. The former urges me to publish it.1 The latter agrees with almost all my matter, but thinks, as I think myself, that the performance is inferior even to my first two pamphlets.2 I am not much inclined for this reason to publish it, but before I finally determine I should like to have your candid opinion about it, and I am sure you will give me no other, and I will if possible send it to you from Bath, the latter end of this or beginning of next week with all its imperfections and before I attempt to make it better, which I think I can do.—

In the Philanthropist and the Edinburgh I think I have recognized your articles. I am glad your history is nearly finished, I hope it will bring you abundance of fame and money.—

I shall be very happy indeed to see Mr. Hume and his new married lady here. If you write to them say so in the strongest terms for me. In the mean time I will write to Cheltenham myself for the purpose of urging the same request.— Mr. Malthus and I continue to write to each other but not so actively as we sometimes do. We differ nearly as much as ever. There appears to me an astonishing mixture of truth and error in the opinions which he holds on the subject of rent profit and wages. Oh that I were capable of writing a book! He is preparing a new edition of his Essay on Population for the press. He ought candidly to confess that he has committed great errors in his chapters on the Agricultural and Mercantile systems, as well as in that on bounties.

I hope Mr. Bentham is well.—I have to thank him for his small pamphlet which was sent to me in Brook Street.1 I hope soon to be able to study it.—Make my kind compliments to him and to Mrs. Mill and believe me

very truly Yours

David Ricardo

I shall direct my MS to you at Ford Abbey near Chard.

[1 ]Addressed: ‘J. Mill Esqr / Ford Abbey / near / Chard / Somersetshire’.

MS in Mill-Ricardo papers.

[1 ]Letter 108.

[1 ]See letter 133.

[2 ]See letter 129.

[1 ]Probably A Table of the Springs of Action, 32 pp., London, Taylor,1815.