The Online Library of Liberty

A project of Liberty Fund, Inc.

• 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]

351.

ricardo to trower1

London 28 Dec^r. 1819

My dear Trower

At length we have obtained a little breathing time, and I am enabled to sit down and have a chat with you. All the important business in the house has been dispatched, and we are now to look forward to a long holiday: indeed I think we deserve one for our labours have been incessant during the last month, and it is matter of surprise to me how ministers undergo the fatigue of midnight watchings, added to their other duties. Mr. Tierney is evidently much the worse for it, although his attention to the business, even of the House, is by no means unremitting he declares himself that he can no longer undergo the harassing duty of a close attendance at the debates of the House of Commons. You, I have no doubt, approve of all the measures which have been adopted to suppress the public discontent2 —I consider them as serious infringements on our liberties, and deprecate them because I expect that they will not allay the causes of discontent, but increase them. The people complain that they have not a due share in the formation of their government, and they are deprived of a portion of that which they really had. To me it appears that3 the radical reformers are very unfairly treated—they are all lumped together—without proof or even examination they are declared to be revolutionists in disguise, and on this assumption they are condemned without being permitted to say one word in their defence. That there was cause for apprehension from the large meetings of the people, and from the publication of atrocious libels, no one can deny, but the efficiency of the laws already in force was never fairly tried, and ministers were not justified in adopting new measures of rigour until the old measures had failed of remedying the evil complained of.

Our finance does not seem so very bad as had been represented—the deficiency this year must be serious, but not so great as to absorb the whole of the Sinking Fund, and unless the whole is absorbed I do not see either the policy or necessity of imposing new taxes. I suppose we shall now go on without any important measure in finance till a new war breaks out, and then it appears to me impossible, if faith is to be kept with the public creditor, to raise the annual supplies for the expences of such war, but by taxes equal to such expenditure.

There must I think be an end of loans; we cannot go on adding to a debt of 800 millions. A great deal more has been said than I intended there should be of an incidental observation of mine respecting the payment of the debt,1 as it usually happens I am attacked by the most opposite parties. By some stockholders I am accused of not doing justice to them, by suggesting that they are not fairly entitled, in ready money, to £100, for £100–3 pc^ts., but to the market price of £100 stock, or £70. By another party—the landholders, I am accused of wishing to give the lands of the country to the stockholders, and it is more than hinted that I have an interested view in making the proposal. I may be ignorant or prejudiced, but I am not conscious of being influenced by any motives of interest, and it would really be very difficult for me to determine how my particular interest would be affected by the adoption of the measure.

The most serious obstacle which I see against the adoption of the plan is the state of the representation of the House of Commons, which is such as to afford us no security that if we got rid of the present debt, we should not be plunged into another.

The debates have been very interesting—those of the last week1 afforded an opportunity for the display of great eloquence and great talent, both on the part of Sir J Mackintosh and Mr. Canning. This display was admirable, and I am told by those who have long had seats in parliament, has not of late years been surpassed. Plunkett and Brougham also have shewn very great abilities.—

I hope Mrs. Trower and your children are well, and are enjoying without alloy the festivities of this season, usually devoted to mirth and chearfulness. Pray give Mrs. Ricardo’s and my kind regards to them.

I suppose you will be selected for the Sheriff for the ensuing year, in your County. I hope you will find the office an agreeable one, and that it will not be attended with any unusual portion of responsibility from the unsettled state of the times. Adieu my dear Trower,—Believe me ever

Most truly Y^rs.

David Ricardo

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

[2 ]The ‘Six Acts’.

[3 ]‘even’ is del. here.

[1 ]‘Ricardo’s notion of repaying the National Debt by a tax on real property seems at best a wild sort of notion; and it was not very discreet to let it out in an accidental manner, in a speech upon the employment of the poor. It is after all something of a radical notion, and is not unlikely to be taken up by the Reformers as a happy scheme to get rid of taxation.’ (J. L. Mallet’s MS Diary, entry of 19 Dec. 1819.) See Ricardo’s speech of 16 Dec. 1819, above, V, 34–5.

[1 ]On the Blasphemous Libels and Newspaper Stamp Duties Bills.