Front Page Titles (by Subject) 164.: crombie to ricardo1 - The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818
The Online Library of Liberty
A project of Liberty Fund, Inc.
Search this Title:
164.: crombie to ricardo1 - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818 
The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 7 Letters 1816-1818.
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.
crombie to ricardo1
Major Torrens has done me a favour, by sending you a copy of my pamphlet.2 Had I been aware, that a production of so little value would have been acceptable, I should have the pleasure myself of requesting your acceptance of a copy.
Nothing, Sir, believe me, would give me more uneasiness than to misrepresent thro’ inadvertence, either publicly or privately the opinion of any gentleman, especially of one, who treats his opponents with the candour and liberality of Mr. Ricardo. If you admit, that there was a great demand for guineas,—if you admit, that there was a scanty supply, and if you affirm, that the guinea, notwithstanding, did not rise in value, it appears to me, that I have not misrepresented your statement.3 But, if you deny either of the two first positions, or do not assert the last, then I own, that I have misunderstood, and misrepresented your sentiments. I conceive, that, if this subject were disentangled from some perplexities, in which it is unfortunately involved, that there would be no diversity of opinion, respecting it: and if I can command as much leisure, as I have inclination, I intend to examine with attention, and analyse your pamphlet, containing, as I conceive, almost every thing of importance on the other side.1 If I should have time to accomplish this, the analysis shall be submitted to your examination. There are some points, I fear, on which we cannot agree; and it becomes a question, which of the contending parties have the more correct notion of the points in controversy. I cannot assent to your notion of depreciation, nor to the standard of value, which you desire to establish—In regard to the ideas, annexed to the expressions “cheapness” and “dearness[”] of gold, I think it evident, that we do not in fact differ so much, as you imagine, and that, consistently with your own theory, we must each come to the same conclusion at last.
I return you, Sir, many thanks for your friendly invitation; but our friend Major Torrens will tell you, that I seldom or never dine from home, except during the holidays.
Believe me respectfully Sir Your most obedt
Greenwich 1st May 1816
Dav. Ricardo Esq
[1 ]Addressed: ‘D. Ricardo Esq / Upper Brook St’.
[2 ]Letters on the present State of the Agricultural Interest, addressed to Charles Forbes, Esq. M.P., London, Hunter, 1816. Ricardo’s copy, inscribed ‘From Dr. Crombie by his friend Major Torrens to David Ricardo Esqr.’, is in the Goldsmiths’ Library of the University of London.
[3 ]Probably refers to a long footnote in Letters to Forbes, pp. 20–1, criticising Ricardo’s High Price of Bullion.
[1 ]See A Letter to D. Ricardo, Esq. containing an Analysis of his Pamphlet on the Depreciation of Bank Notes, by the Rev. Alexander Crombie, LL. D., London, Hunter, 1817. (Reprinted, with additional notes, in Pamphleteer, vol. xx, 1817, pp. 529–72.) The Letter, which is dated 7 April 1817, opens: ‘When I had the pleasure of meeting you at Woolwich, in company with our respected friend Major Torrens, I intimated my intention of analysing your pamphlet, on the depreciation of Bank Notes’.