Front Page Titles (by Subject) 288.: wakefield to ricardo1 - The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818
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288.: wakefield 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.
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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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wakefield to ricardo1
Pall Mall December 4th. 1818
My friend Vizard was telling me that he had heard that you had arranged to be returned for Portalington—and as I think it probable it may be by the means of a loan to Lord Portalington—I think it may be important to you to be aware of every thing which I know about it—at least it is only the trouble of my writing this letter and taking the chance of its being of any use.
The gentleman with whom I was in negociation for about it—is Mr. Kirkland—who is military agent to the Duke of Kent and I suspect agent to Lord Portalington—I mean army agent—as I understood him Lord Portalington has borrowed a considerable sum of money on annuity—for which purpose his Estates including the borough of Portalington was assigned to Trustees one of whom is Sir Henry Parnell2 —who is brother in law to Lord Portalington—and has long acted as agent for his Estates. Mr. Kirkland proposed the Trustees borrowing money on mortgage to pay off the annuities—he first asked for £50000 and subsequently for £20.000 upon Irish Interest. viz 6 pr Ct. the legal interest of that country—the Interest to be paid half yearly at Puget and Bainbridge’s1 —
I proposed to lend the first sum—if he would return any person I nominated for the borough—this after some hesitation was refused. I then as you will recollect my writing to you2 offered the £20000—and to pay such a price for the seat as Mr. Pascoe Grenfell should determine was a fair one— Mr. Kirkland is cousin to Mr. Arbuthnot the Secretary to the Treasury and he asked—if you would vote with ministers —and when I told him that politics must not be named— but perfect freedom he said—Lord Portalington found there was nothing to be got by returning an opposition man—he would have a ministerial one—after this our negociation ended—
If you are lending your money—I think you ought to have 6 pr. Cent. Ireland is all a registered country—your security should be instantly registered. If you push Sir Henry Parnell—he will join in the security—which will insure punctual payment of the Interest—
I have known a great deal of Sir Henry Parnell who is a remarkably pleasing man—he is nephew to the Right Hon. e
John Foster3 —and was once his public secretary—and was brought up under him—but he deserted him in a very sudden way to join the whigs—when they came into power. and has been opposed to his Uncle ever since—When I was with Mr. Foster—which was immediately afterwards—I joined with all those who were about him—in thinking that he had treated his Uncle with ingratitude—I am still not without a strong feeling—that he was ready to join the winning party for his own purposes—notwithstanding which I should confide in him—in a negociation of this sort—He coincides with you—in your opinions as to Bank restriction—indeed so did Mr. Foster—and his nephew John Leslie Foster.1 —
I have been on Lord Portalingtons Estate and speaking in a general way—I have an idea that it is good security.—
If any thing else strikes you—which you may think that I know about it—I shall be very happy in rendering you every information in my power—and by writing “private ” on your letter, it will reach me unopened. I am
Your most faithful humble servant
David Ricardo Esq
[1 ]Addressed: ‘for / David Ricardo Esquire / Gatcomb Park / Minching Hampton’ and marked ‘Private’.
[2 ]Sir Henry Brooke Parnell (1776–1842), M.P. for Queen’s County, had been a member of the Bullion Committee and Chairman of the Committee on the Corn Trade, 1813; he was created Baron Congleton in 1841.
[1 ]London agents to the Bank of Ireland.
[2 ]Letter 238.
[3 ]John Foster, afterwards Lord Oriel, the last Speaker of the Irish House of Commons. It was at his suggestion that Edward Wakefield had written An Account of Ireland, Statistical and Political, 2 vols. in 4to, London, Long-mans, 1812.
[1 ]M.P. for Armagh, author of An Essay on the Principle of Commercial Exchanges, and more particularly of the Exchange between Great Britain and Ireland; with an Inquiry into the Practical Effects of the Bank Restrictions, London, 1804.