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238.: wakefield to ricardo1 - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818 [1816]

Edition used:

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.

Part of: The Works and Correspondence of David Ricardo, 11 vols (Sraffa ed.)

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.


238.

wakefield to ricardo1

Dear Sir

A short time since I was applied to for a sum of money to be lent on mortgage to the Earl of Portalington2 in Ireland—the security comprises a Borough—and as Ireland is a registered country and the legal rate of interest 6 pr. Cent I felt an inclination to invest a part of my son’s money3 upon the security—the amount required is from 10 to £20.000

The application was made to me by Mr. Kirkland of St. James’s Street4 —and I proposed to lend the money— provided a preferrence was given to me of the nomination of the member at the market price of the day—leaving to some distinguished and honourable member of the house to say how much should be paid—say such a person as Mr. Grenfell

Mr. Kirkland promised to see Lord Portalington and let me know—and I have heard nothing since—until the receipt of a letter yesterday—from Lord Portalington’s agent in Dublin asking for the money—he says nothing about the stipulation to which I have adverted—but I have replied to his letter telling him that he may have the money but requesting a personal interview with Mr. Kirkland.

If I cannot lay my son’s money out advantageously in a landed Estate—I shall wish for the security—and should it be given with the stipulation to which I have adverted the seat will be at your service—if I meet directly with a property which will absorb all his money—you may should you choose it—take the security and advance the 10 or £20.000 which is required—but should you dislike it I shall then offer it to an employer of mine who I know will be anxious to do so and take the seat

On tuesday I am going into Herefordshire—and shall pay a visit to your new purchase of Brinsop Court1 the contract for which I expect Mr. Crosse2 has forwarded to you for execution.

I am in negociation for Lord Oxford’s property in that County for my son

I shall be in London about the 19th. Int. against which time I shall be happy to hear from you about Lord Portalington —and as the matter of your letter may be as well not to be made known to my clerks—I will thank you to write “Private” on the outside of the letter3

I am Your most faithful humble servant

Edward Wakefield

David Ricardo Esq.

[1 ]Addressed: ‘David Ricardo Esqr / Gatcombe Park / Minching Hampton / Glostershire’. Franked by Lord Seymour, from Llandilo.

MS in R.P.

[2 ]Should be ‘Portarlington’.

[3 ]His son was Edward Gibbon Wakefield (1796–1862), at this time attached to the British Legation at Turin. His elopement and marriage with a wealthy ward in Chancery, Eliza Pattle, resulted in the Lord Chancellor’s making ‘the most liberal settlement on his ward’s husband that had ever been remembered in the records of Chancery’, giving to him the equivalent of an income between £1500 and £2000 per annum (Irma O’Connor, Edward Gibbon Wakefield, London, 1928, p. 31).

[4 ]Nugent Kirkland, army agent.

[1 ]The Manor of Brinsop Court, in Herefordshire.

[2 ]Thomas Crosse, Ricardo’s solicitor.

[3 ]For further news from Wakefield on this subject see letters 244 and 288.