The Online Library of Liberty

A project of Liberty Fund, Inc.

• Abbreviations
• 150.: Ricardo to Malthus1[reply to 146 & 148.—ANSWERED By 152]
• 151.: Mill to Ricardo1[reply to 149]
• 152.: Malthus to Ricardo2[reply to 150.—ANSWERED By 153]
• 153.: Ricardo to Malthus1[reply to 152]
• 154.: Trower to Ricardo1[reply to 147.—ANSWERED By 156]
• 155.: Ricardo to Murray2
• 156.: Ricardo to Trower3[reply to 154.—ANSWERED By 159]
• 157.: Ricardo to Malthus1[answered By 158]
• 158.: Malthus to Ricardo1[reply to 157.—ANSWERED By 160]
• 159.: Trower to Ricardo2[reply to 156.—ANSWERED By 161]
• 160.: Ricardo to Malthus2[reply to 158]
• 161.: Ricardo to Trower3[reply to 159]
• 162.: Ricardo to Malthus3[answered By 163]
• 163.: Malthus to Ricardo2[reply to 162]
• 164.: Crombie to Ricardo1
• 165.: Trower to Ricardo1
• 166.: Ricardo to Malthus1
• 167.: Ricardo to Mcculloch1[answered By 190]
• 168.: Broadley to Ricardo1[answered By 169]
• 169.: Ricardo to Broadley1[reply to 168]
• 170.: Trower to Ricardo1[answered By 171]
• 171.: Ricardo to Trower1[reply to 170.—ANSWERED By 176]
• 172.: Malthus to Ricardo1[answered By 174]
• 173.: Ricardo to Mill1[answered By 175]
• 174.: Ricardo to Malthus1[reply to 172.—ANSWERED By 178]
• 175.: Mill to Ricardo2[reply to 173.—ANSWERED By 177]
• 176.: Trower to Ricardo2[reply to 171]
• 177.: Ricardo to Mill1[reply to 175.—ANSWERED By 180]
• 178.: Malthus to Ricardo1[reply to 174.—ANSWERED By 179]
• 179.: Ricardo to Malthus2[reply to 178.—ANSWERED By 181]
• 180.: Mill to Ricardo1[reply to 177.—ANSWERED By 185]
• 181.: Malthus to Ricardo1[reply to 179.—ANSWERED By 182]
• 182.: Ricardo to Malthus1[reply to 181.—ANSWERED By 183]
• 183.: Malthus to Ricardo1[reply to 182.—ANSWERED By 184]
• 184.: Ricardo to Malthus1[reply to 183]
• 185.: Ricardo to Mill1[reply to 180.—ANSWERED By 186, 187 & 192]
• 186.: Mill to Ricardo1[reply to 185.—ANSWERED By 188]
• 187.: Mill to Ricardo1[reply to 185.—ANSWERED By 188]
• 188.: Ricardo to Mill1[reply to 186 & 187.—ANSWERED By 195]
• 189.: Ricardo to Mill1[answered By 195]
• 190.: Mcculloch to Ricardo1[reply to 167.—ANSWERED By 194]
• 191.: Trower to Ricardo2
• 192.: Mill to Ricardo1[reply to 185.—ANSWERED By 193]
• 193.: Ricardo to Mill1[reply to 192.—ANSWERED By 195]
• 194.: Ricardo to M2[reply to 190]
• 195.: Mill to Ricardo1[reply to 188, 189 & 193.—ANSWERED By 196]
• 196.: Ricardo to Mill2[reply to 195]
• 197.: Ricardo to Malthus2
• 198.: Trower to Ricardo2[answered By 201]
• 199.: Ricardo to Malthus2[answered By 200]
• 200.: Malthus to Ricardo2[reply to 199]
• 201.: Ricardo to Trower2[reply to 198.—ANSWERED By 203]
• 202.: Ricardo to Malthus1
• 203.: Trower to Ricardo1[reply to 201.—ANSWERED By 205]
• 204.: Ricardo to Malthus2
• 205.: Ricardo to Trower1[reply to 203.—ANSWERED By 209]
• 206.: Ricardo to Malthus2[answered By 207]
• 207.: Malthus to Ricardo2[reply to 206.—ANSWERED By 208]
• 208.: Ricardo to Malthus1[reply to 207]
• 209.: Trower to Ricardo2[reply to 205]
• 210.: Ricardo to Malthus1
• 211.: Ricardo to Malthus1
• 212.: Ricardo to Trower1[answered By 214]
• 213.: Ricardo to Malthus1
• 214.: Trower to Ricardo3[reply to 212]
• 215.: Ricardo to Sinclair1
• 216.: Trower to Ricardo1[answered By 217]
• 217.: Ricardo to Trower1[reply to 216]
• 218.: Ricardo to Barton1
• 219.: Ricardo to Trower1[answered By 224]
• 220.: Ricardo to Mill1
• 221.: Say to Ricardo1
• 222.: Ricardo to Malthus3[answered By 225]
• 223.: Ricardo to Mill1[answered By 227]
• 224.: Trower to Ricardo1[reply to 219.—ANSWERED By 226]
• 225.: Malthus to Ricardo1[reply to 222.—ANSWERED By 228]
• 226.: Ricardo to Trower1[reply to 224.—ANSWERED By 235]
• 227.: Mill to Ricardo2[reply to 223.—ANSWERED By 229]
• 228.: Ricardo to Malthus2[reply to 225]
• 229.: Ricardo to Mill1[reply to 227.—ANSWERED By 232]
• 230.: Ricardo to Malthus1[answered By 231]
• 231.: Malthus to Ricardo1[reply to 230.—ANSWERED By 233]
• 232.: Mill to Ricardo3[reply to 229.—ANSWERED By 234]
• 233.: Ricardo to Malthus1[reply to 231.—ANSWERED By 237]
• 234.: Ricardo to Mill1[reply to 232.—ANSWERED By 236]
• 235.: Trower to Ricardo2[reply to 226.—ANSWERED By 239]
• 236.: Mill to Ricardo1[reply to 234.—ANSWERED By 242]
• 237.: Malthus to Ricardo2[reply to 233.—ANSWERED By 240]
• 238.: Wakefield to Ricardo1
• 239.: Ricardo to Trower1[reply to 235]
• 240.: Ricardo to Malthus3[reply to 237]
• 241.: Say to Ricardo1[answered By 243]
• 242.: Ricardo to Mill1[reply to 236.—ANSWERED By 245]
• 243.: Ricardo to Say1[reply to 241]
• 244.: Wakefield to Ricardo1
• 245.: Mill to Ricardo1[reply to 242.—ANSWERED By 246]
• 246.: Ricardo to Mill1[reply to 245]
• 247.: Ricardo to Mill2
• 248.: Mcculloch to Ricardo1
• 249.: Ricardo to Trower2[answered By 254]
• 250.: Ricardo to Malthus1
• 251.: Grenfell to Ricardo1
• 252.: Malthus to Ricardo1
• 253.: Wakefield to Ricardo1
• 254.: Trower to Ricardo1[reply to 249.—ANSWERED By 255]
• 255.: Ricardo to Trower2[reply to 254]
• 256.: Ricardo to Malthus1[answered By 258]
• 257.: Whishaw to Ricardo1
• 258.: Malthus to Ricardo1[reply to 256]
• 259.: Trower to Ricardo1[answered By 261]
• 260.: Ricardo to Malthus1[answered By 264]
• 261.: Ricardo to Trower1[reply to 259.—ANSWERED By 268]
• 262.: Warburton to Ricardo1
• 263.: Ricardo to Mill2
• 264.: Malthus to Ricardo1[reply to 260.—ANSWERED By 266]
• 265.: Mcculloch to Ricardo1[answered By 267]
• 266.: Ricardo to Malthus1[reply to 264]
• 267.: Ricardo to Mcculloch1[reply to 265.—ANSWERED By 271]
• 268.: Trower to Ricardo2[reply to 261.—ANSWERED By 272]
• 269.: Ricardo to Sharp1
• 270.: Ricardo to Mill2[answered By 273]
• 271.: Mcculloch to Ricardo1[reply to 267.—ANSWERED By 285]
• 272.: Ricardo to Trower1[reply to 268.—ANSWERED By 276]
• 273.: Mill to Ricardo1[reply to 270.—ANSWERED By 274]
• 274.: Ricardo to Mill3[reply to 273]
• 275.: Ricardo to Mill2[answered By 278]
• 276.: Trower to Ricardo1[reply to 272.—ANSWERED By 279]
• 277.: Malthus to Ricardo1
• 278.: Mill to Ricardo1[reply to 275.—ANSWERED By 280]
• 279.: Ricardo to Trower1[reply to 276.—ANSWERED By 287]
• 280.: Ricardo to Mill2[reply to 278.—ANSWERED By 282]
• 281.: Ricardo to Murray2
• 282.: Mill to Ricardo2[reply to 280.—ANSWERED By 284]
• 283.: Ricardo to Murray1
• 284.: Ricardo to Mill4[reply to 282.—ANSWERED By 289]
• 285.: Ricardo to Mcculloch1[reply to 271.—ANSWERED By 290]
• 286.: Ricardo to Murray1
• 287.: Trower to Ricardo1[reply to 279.—ANSWERED By 295]
• 288.: Wakefield to Ricardo1
• 289.: Mill to Ricardo2[reply to 284]
• 290.: Mcculloch to Ricardo1[reply to 285.—ANSWERED By 300]
• 291.: Mill to Ricardo1[answered By 292]
• 292.: Ricardo to Mill3[reply to 291.—ANSWERED By 294]
• 293.: Ricardo to Murray1
• 294.: Mill to Ricardo4[reply to 292.—ANSWERED By 296]
• 295.: Ricardo to Trower2[reply to 287.—ANSWERED By 304]
• 296.: Ricardo to Mill1[reply to 294.—ANSWERED By 297]
• 297.: Mill to Ricardo1[reply to 296.—ANSWERED By 298]
• 298.: Ricardo to Mill4[reply to 297.—ANSWERED By 303]
• 299.: Mcculloch to Ricardo1[answered By 300]

165.

trower to ricardo1

Unsted Wood—Godalming—May 24—1816—

Dear Ricardo—

I conclude you have by this time become acquainted with the provisions of Mr. Rose’s Bill, for the protection of Provident Institutions,2 I am desirous therefore of comparing our views of that proposed Act, in order that if we see that measure in the same light, we may exert our efforts in preventing what appears to me its mischievous tendency.

The whole Bill proceeds upon the principle, that the Depositors whom the Bill designates Members shall exercise a control over the Institution. All authority exercised by any Committee is to proceed from the Depositors, by whom such power is to be delegated. Now, the principle on which these Institutions proceed and ought to proceed, is that the Depositors shall have no voice or control whatever over the management of their concerns—These Institutions are established for the express purpose of doing what the poor are unable to do for themselves—to take care of their money. It is essential therefore they should have no power of interference in its management. This Bill gives to the Depositors the appointment of the Officers of the Institution. So that those Gentlemen who have come forward to assist their poorer neighbours are to owe their continuance in Office to the nomination of their laborers and servants. Under such a system we may rest assured the management of these Institutions will not long remain in the hands of the Gentlemen with whom they originated.

The Depositors too are to have the power of inspecting the Books; thus laying open the concerns of every Depositor to the curiosity of his neighbour, and depriving the Institution of the benefits derived from a persuasion that the amount of Depositors Shares will be known only to the Managers. All this proceeds upon a misconception of the real object and character of the measure—It is no joint stock purse in which Individuals are collectively interested, and therefore cannot establish any pretence for the interference here proposed to be allowed—

There are many minor points open to objection which of course will not escape your notice—And it is remarkable, that the Bill is totally silent respecting the deduction for the payment of expences, which required the sanction of legislative enactment at least as much as any other part of the subject. If I have taken a correct view of the provisions of the Bill and you concur in it, do exert yourself in endeavouring to prevent the mischief, which in its present state it c[annotf]ail1 to produce. Explanation and interfe[rence] may lead to a proper understanding and obtain the alterations necessary to make the measure useful.—How does your Institution in London proceed. I shall be desirous of hearing of its progress.2 We go on tolerably well—and have purchased 500. Stock—the principal part of this however arising from the funds of a Benefit Society, which have been deposited with us.—

I conclude you will remain in Town for some time to come although the Country is getting into high beauty. Make our united Compliments to Mrs. Ricardo and family and believe me

Yours very sincerely

Hutches Trower—

[1 ]Addressed: ‘To / David Ricardo Esqr / Upper Brook Street / Grosvenor Square’. London postmark, 27 May 1816.

MS in R.P.

[2 ]George Rose had brought in his bill ‘for the protection and encouragement of Provident Institutions or Banks for Savings’ on 15 May 1816 (Hansard, XXXIII, 841 ff.).

[1 ]MS torn here and below.

[2 ]See Joseph Hume, An Account of the Provident Institution for Savings, established in the Western Part of the Metropolis..., London, Stockdale, 1816 (a copy presented by Hume to Ricardo is in the Goldsmiths’ Library of the University of London). Ricardo, Trower, Malthus, Hume, Torrens were amongst the managers.