The Online Library of Liberty

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• Abbreviations
• 300.: Ricardo to Mcculloch1[reply to 290 & 299]
• 301.: Ricardo to Murray1
• 302.: Ricardo to Mill1[answered By 303]
• 303.: Mill to Ricardo2[reply to 298 & 302]
• 304.: Trower to Ricardo1[reply to 295.—ANSWERED By 307]
• 305.: Ricardo to Place2
• 306.: Sharp to Ricardo2
• 307.: Ricardo to Trower2[reply to 304]
• 308.: Ricardo to Mcculloch1[answered By 309]
• 309.: Mcculloch to Ricardo1[reply to 308.—ANSWERED By 310]
• 310.: Ricardo to Mcculloch1[reply to 309.—ANSWERED By 314]
• 311.: Trower to Ricardo1[answered By 312]
• 312.: Ricardo to Trower1[reply to 311]
• 313.: Ricardo to Trower2
• 314.: Mcculloch to Ricardo4[reply to 310.—ANSWERED By 315]
• 315.: Ricardo to Mcculloch3[reply to 314]
• 316.: Trower to Ricardo1[answered By 317]
• 317.: Ricardo to Trower1[reply to 316]
• 318.: Ricardo to Mill2[answered By 319]
• 319.: Mill to Ricardo1[reply to 318]
• 320.: Mill to Ricardo1
• 321.: Ricardo to Mill4[answered By 322]
• 322.: Mill to Ricardo3[reply to 321.—ANSWERED By 323]
• 323.: Ricardo to Mill1[reply to 322.—ANSWERED By 325]
• 324.: Malthus to Ricardo2[answered By 328]
• 325.: Mill to Ricardo4[reply to 323.—ANSWERED By 329]
• 326.: Ricardo to Place1
• 327.: Trower to Ricardo3[answered By 330]
• 328.: Ricardo to Malthus1[reply to 324.—ANSWERED By 338]
• 329.: Ricardo to Mill2[reply to 325.—ANSWERED By 332 & 337]
• 330.: Ricardo to Trower1[reply to 327.—ANSWERED By 339]
• 331.: Mcculloch to Ricardo1[answered By 333]
• 332.: Mill to Ricardo2[reply to 329]
• 333.: Ricardo to Mcculloch1[reply to 331.—ANSWERED By 344]
• 334.: Brown to Ricardo1[answered By 336]
• 335.: Brown to Ricardo1[answered By 336]
• 336.: Ricardo to Brown1[reply to 334 & 335]
• 337.: Mill to Ricardo1[reply to 329]
• 338.: Malthus to Ricardo1[reply to 328.—ANSWERED By 345]
• 339.: Trower to Ricardo3[reply to 330.—ANSWERED By 346]
• 340.: Bentham to Ricardo1
• 341.: Ricardo to Place2
• 342.: Place to Ricardo1[answered By 343]
• 343.: Ricardo to Place1[reply to 342]
• 344.: Mcculloch to Ricardo2[reply to 333.—ANSWERED By 349]
• 345.: Ricardo to Malthus2[reply to 338]
• 346.: Ricardo to Trower2[reply to 339]
• 347.: Say to Ricardo1[answered By 352]
• 348.: Mcculloch to Ricardo1[answered By 349]
• 349.: Ricardo to Mcculloch1[reply to 344 & 348]
• 350.: Ricardo to Heathfield1
• 351.: Ricardo to Trower1
• 352.: Ricardo to Say1[reply to 347.—ANSWERED By 356]
• 353.: Lord Grenville to Ricardo2
• 354.: Ricardo to Trower1
• 355.: Ricardo to Mcculloch1[answered By 358]
• 356.: Say to Ricardo1[reply to 352]
• 357.: Ricardo to Trower1
• 358.: Mcculloch to Ricardo1[reply to 355.—ANSWERED By 359]
• 359.: Ricardo to Mcculloch1[reply to 358.—ANSWERED By 360]
• 360.: Mcculloch to Ricardo1[reply to 359.—ANSWERED By 361]
• 361.: Ricardo to Mcculloch1[reply to 360—answered By 366]
• 362.: Ricardo to Mcculloch2[answered By 366]
• 363.: Ricardo to Malthus2
• 364.: Ricardo to Sinclair1
• 365.: Ricardo to Napier1
• 366.: Mcculloch to Ricardo3[reply to 361 & 362.—ANSWERED By 368]
• 367.: Ricardo to Bentham2
• 368.: Ricardo to Mcculloch3[reply to 366.—ANSWERED By 372]
• 369.: Bentham to Ricardo5
• 370.: Ricardo to Mill3
• 371.: Trower to Ricardo3[answered By 373]
• 372.: Mcculloch to Ricardo1[reply to 368.—ANSWERED By 375]
• 373.: Ricardo to Trower1[reply to 371.—ANSWERED By 376]
• 374.: Ricardo to Mill2
• 375.: Ricardo to Mcculloch2[reply to 372.—ANSWERED By 377]
• 376.: Trower to Ricardo1[reply to 373—answered By 380]
• 377.: Mcculloch to Ricardo1[reply to 375.—ANSWERED By 381]
• 378.: Malthus to Ricardo1[answered By 379]
• 379.: Ricardo to Malthus2[reply to 378.—ANSWERED By 388]
• 380.: Ricardo to Trower2[reply to 376.—ANSWERED By 384]
• 381.: Ricardo to Mcculloch1[reply to 377]
• 382.: Mill to Ricardo1[answered By 383]
• 383.: Ricardo to Mill1[reply to 382]
• 384.: Trower to Ricardo1[reply to 380.—ANSWERED By 387]
• 385.: Mill to Ricardo2[answered By 386]
• 386.: Ricardo to Mill1[reply to 385.—ANSWERED By 389]
• 387.: Ricardo to Trower1[reply to 384.—ANSWERED By 390]
• 388.: Malthus to Ricardo1[reply to 379.—ANSWERED By 392]
• 389.: Mill to Ricardo1[reply to 386.—ANSWERED By 394]
• 390.: Trower to Ricardo1[reply to 387.—ANSWERED By 391]
• 391.: Ricardo to Trower1[reply to 390.—ANSWERED By 397]
• 392.: Ricardo to Malthus1[reply to 388.—ANSWERED By 395]
• 393.: Say to Ricardo1[answered By 430]
• 394.: Ricardo to Mill1[reply to 389.—ANSWERED By 398]
• 395.: Malthus to Ricardo1[reply to 392.—ANSWERED By 402]
• 396.: Grenfell to Ricardo1
• 397.: Trower to Ricardo4[reply to 391.—ANSWERED By 403]
• 398.: Mill to Ricardo2[reply to 394.—ANSWERED By 400]
• 399.: Mill to Ricardo2[answered By 400]
• 400.: Ricardo to Mill3[reply to 398 & 399]
• 401.: Ricardo to Mccullochcculloch3[answered By 406]
• 402.: Ricardo to Malthus1[reply to 395.—ANSWERED By 404]
• 403.: Ricardo to Trower1[reply to 397.—ANSWERED By 410]
• 404.: Malthus to Ricardo1[reply to 402.—ANSWERED By 405]
• 405.: Ricardo to Malthus1[reply to 404.—ANSWERED By 408]
• 406.: Mcculloch to Ricardo1[reply to 401.—ANSWERED By 407]
• 407.: Ricardo to Mccullochcculloch1[reply to 406.—ANSWERED By 412]
• 408.: Malthus to Ricardo1[reply to 405]
• 409.: Ricardo to Mcculloch3[answered By 412]
• 410.: Trower to Ricardo2[reply to 403.—ANSWERED By 415]
• 411.: Malthus to Ricardo2
• 412.: Mcculloch to Ricardo1[reply to 407 & 409.—ANSWERED By 416]
• 413.: Mill to Ricardo3[answered By 414]
• 414.: Ricardo to Mill2[reply to 413]
• 415.: Ricardo to Trower1[reply to 410.—ANSWERED By 419]
• 416.: Ricardo to Mcculloch2[reply to 412.—ANSWERED By 417]
• 417.: Mcculloch to Ricardo2[reply to 416.—ANSWERED By 418]
• 418.: Ricardo to Mcculloch1[reply to 417.—ANSWERED By 421]
• 419.: Trower to Ricardo1[reply to 415.—ANSWERED By 420]
• 420.: Ricardo to Trower1[reply to 419]
• 421.: Mcculloch to Ricardo1[reply to 418.—ANSWERED By 422]
• 422.: Ricardo to Mcculloch1[reply to 421.—ANSWERED By 424]
• 423.: Trower to Ricardo3[answered By 426]
• 424.: Mcculloch to Ricardo1[reply to 422.—ANSWERED By 428]
• 425.: Tooke to Ricardo3
• 426.: Ricardo to Trower1[reply to 423]
• 427.: Tooke to Ricardo2
• 428.: Ricardo to Mcculloch1[reply to 424.—ANSWERED By 431]
• Malthus to Sismondi1
• 429.: Mcculloch to Ricardo1
• 430.: Ricardo to Say2[reply to 393.—ANSWERED By 446]
• 431.: Mcculloch to Ricardo2[reply to 428.—ANSWERED By 433]
• 432.: Ricardo to Sinclair1
• 433.: Ricardo to Mcculloch2[reply to 431.—ANSWERED By 434]
• 434.: Mcculloch to Ricardo1[reply to 433.—ANSWERED By 436]
• 435.: Trower to Ricardo1[answered By 437]
• 436.: Ricardo to Mcculloch1[reply to 434.—ANSWERED By 474]

317.

ricardo to trower1
[Reply to 316]

London July 8—1819

My dear Trower

You have calculated right—I shall in a few days leave London for Gatcomb, no worse in health for irregular meals, and late hours, during my first Parliamentary campaign. Though not necessary to my health I shall see the green fields, and hills of Gloucestershire, again, with great satisfaction. These objects are always pleasing to me, but will be more so now on account of the contrast which a little leisure will afford me to the busy and bustling life which I have lately been passing. The daily attendance in the House of Commons, and the time necessary to look over the Reports and papers which are so profusely delivered,—to say nothing of Committees which sit in the morning, leave a member no leisure to read even the light publications of the day, so that I am not acquainted with the Legend of Montrose2 yet, and have not read more than two or three articles in the last Quarterly and Edinburgh Reviews.

The triumph of science and truth in the great councils of the Nation, this Session, gives me great satisfaction, which is not a little increased by observing the present state of the price of bullion and the foreign exchanges. Gold is I believe at £3 18. p^r. oz,—silver at the mint price, and the exchanges very nearly at par. The best friends to the measures lately adopted could not have anticipated less pressure than what has been hitherto experienced, and I think it but reasonable to hope that the permanent price of bullion will settle at the present rate, without adding much to the slight difficulties which we have already suffered. Our opponents, whose prophecies are all proved to be unfounded, now say that we have had great good luck—that the natural course of events has been favorable to us—they will admit any thing but the truth of our principles. Even Lord Lauderdale, whose theory respecting Mint regulations requires that silver should never be under 5/6, that price which he calls the mint price, maintains that the present market price of silver is an unnatural and disturbed price, which cannot have a long duration.1 I have heard much of Mr. Turner’s pamphlet, but I have not seen it—I did not buy it because I have already such a number of publications by me which maintain the same doctrine which he maintains that I did not think it expedient to make the trifling sacrifice which its purchase would cost, to add to the mass. I saw extracts from it in the New Times, which paper has been as loud in his praise as it has been in condemning me.

I am not a member of a Committee to further Mr. Owen’s plans—the committee was appointed for the purpose of examining, and not of approving those plans. I attended the meeting,2 and had very successfully resisted all entreaties to let my name be on the committee till attacked by the Duke of Kent and Mr. John Smith. It was in vain that I protested I differed from all the leading principles advanced by Mr. Owen,—that, I was told, was no objection, for I was not bound to approve, only to examine. With very great reluctance I at last consented, and have attended the first meeting, at which I gave my reasons at some length for dissenting from all Mr. Owens conclusions. The scheme was chiefly examined with a view to a pauper establishment or a well regulated workhouse, but even to that limited plan there are insuperable objections. Owen is himself a benevolent enthusiast, willing to make great sacrifices for a favorite object. The Duke of Kent, his great supporter, is also entitled to the praise of benevolent intentions, but he appears to me to be quite ignorant of all the principles which ought to regulate establishments for the poor—he has heard of Malthus doctrine, and has an antipathy to it, without knowing the reasons on which it is founded or how his difficulty may be obviated. He, Mr. Preston, and Mr. Owen, appear to think nothing necessary to production, and the happiness of a crowded population, but land. We have land; it may be made more productive, and therefore we cannot have an excess of population.—Can any reasonable person believe, with Owen, that a society, such as he projects, will flourish and produce more than has ever yet been produced by an equal number of men, if they are to be stimulated to exertion by a regard to the community, instead of by a regard to their private interest? Is not the experience of ages against him? He can bring nothing to oppose to this experience but one or two ill-authenticated cases of societies which prospered on a principle of a community of goods, but where the people were under the powerful influence of religious fanaticism. I was in hopes that Sir Wm. de Crespigny would have given me an opportunity to state my opinions shortly on this subject in the House of Commons, but he thought fit to withdraw his motion for a Committee, and therefore I was obliged to be silent.1

Mrs. Ricardo unites with me in kind regards to Mrs. Trower and yourself. Believe me ever

My dear Trower very truly Y^rs.

David Ricardo

Torrens tells me he is proceeding with his work on Political Economy.1 Malthus has been staying a few days with me. He calculates on publishing his book by the end of the year. Mill appears to be well satisfied with his new office at the East India House.—Mr. Bentham’s mind and pen are employed at the present moment in elucidating the principles of Government and the safety of extending the representation.

[1 ]MS at University College, London.—Letters to Trower, XXVII.

[2 ]See above, p. 37, n. 3.

[1 ]Lauderdale argued that according to all the Acts of Parliament, silver, and not gold, was the standard of value. Therefore, the Mint ratio of silver to gold being 14 to 1, while the market ratio was 15½ to 1, now that bank notes were nearly at par with gold they were ten per cent. above their silver parity. (See Lord Lauderdale’s speech on 25 June 1819, Hansard, XL 1159–63, and cp. his Three Letters...under the signature of ‘An Old Merchant’, 1819, mentioned above, V, 17, n. 1.)

[2 ]At the Freemasons’ Hall on 26 June; see above, V, 467.

[1 ]On 2 July Ricardo had written to J. H. Wilkinson, from Upper Brook Street: ‘I am now going down to the House—I am meditating a speech on Mr. Owen’s plan if I should have an opportunity this evening of saying a few words on the subject. I fear I shall make bad work of it. I had half a mind to speak last night [on Burdett’s Motion for a Reform of Parliament] but my courage failed me.’ (MS in the possession of the Rev. H. R. Wilkinson.)

[1 ]Cp. above, p. 22.