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]

358.

m^cculloch to ricardo1
[Reply to 355.—Answered by 359]

Edinburgh 19 March 1820

My Dear Sir

Permit me to return my best thanks to you for your kind letter of the 28^th ulto—I am always most happy to hear from you; nor is there in point of fact any thing of which I am so proud as of the honour of your correspondence—

I presume that ere now you have seen the 65^th Number of the Review—You will have little difficulty in ascertaining who wrote the article on Taxation and the Corn laws2 —I thought it was the best way in order to render the article frappant, and that you know either is or ought to be the great object of a Reviewer, to endeavour to shew the effect of the Corn laws as a tax—I do not think I have at all exaggerated the burden they impose on the country, and an arithmetical statement of the kind in question, if it is nearly correct, will make a more powerful impression than the best conducted argument—I should like to know what you think of the soundness of my opinion relative to the comparative rapidity of the increase of taxation3 —If I am well founded in the statement I have made would it not afford a pretty strong argument against the sudden increase of taxation that would be required to enable a country to raise the supplies for carrying on a war within the year? I regret I did not get your scheme for paying off the debt spoken of in the manner I should have liked to have done,1 as Mr. Jeffrey thought it would be better to postpone any examination of it to a subsequent period—However I am under no apprehensions but I shall still have it in my power to do it justice, and to defend it against the cavils of those by whom it has been ignorantly attacked—

I agree with you in thinking that if there were no other alternative a permanent tax on the importation of corn, or even a tax varying with the price, might on the whole be preferable to the present system—But I trust you will, in the first instance, oppose all such taxes and all restrictions whatever on the trade in corn—Your concurrence in any scheme, however modified, for restricting the freedom of this trade, would be the most fatal event that could possibly happen to blast the hopes of those who are confidently looking forward to the ultimate and complete triumph of those principles you have done so much to establish—Excuse the freedom which I take, and forgive me for saying that on this fundamental point you must make no compromise—It is for the interest of all—even of the landlords—that the present vicious system should be abandoned—Any attempt to improve or amend what is in itself bottomed on radically unsound principles, however advantageous in the meantime, must in the end aggravate the disease and render a return to a healthy state more difficult—When the question of the Corn laws comes to be agitated in Parliament, every person who has emancipated himself from the shackles of the vilest prejudices, or who would wish to see his country again in a flourishing condition, will look up to you as their representative; and will expect you to recommend not palliatives or soporifics, but such a mode of treatment as will effectually extirpate the disease which is now preying on our vitals—

I am anxious to see Mr. Malthus work. He deserves to be very roughly handled—The assistance which he has given to the supporters of our factitious and exclusive system, renders the task of exposing his errors, however ungracious, indispensibly necessary—

I am much gratified with what you say of the Scotsman; and I hope it will continue to deserve your approbation—It is no light matter I assure you to put your hand to any paper in this City in which the government is not to be the subject of eulogy—I believe a political writer would have an equal chance of justice in Madrid and Edinburgh1 —Juries are here no protection for they are invariably packed, and the Bench is filled with mere servile partisans who must have starved had they continued at the Bar—Whatever intelligence or public spirit may exist in Scotland, exists in despite of the public institutions of the country, which are infinitely worse than you could have any idea of—I shall hope to hear from you when you have leisure. And I remain with the greatest regard and esteem

Yours most faithfully

J. R. M^cCulloch

[1 ]Addressed: ‘David Ricardo Esq M.P. / Upper Brook Street / London’.

MS in R.P.—Letters of McCulloch to Ricardo, IV.

[2 ]Edinburgh Review, Jan. 1820, Art. IX. This article, which is by McCulloch, was ascribed to Ricardo in the Gentleman’s Magazine of May 1820 (p. 425).

[3 ]ib. pp. 163–4; ‘a slow and gradual increase of taxation, by adding to the efficacy of the principle of moral restraint, has a tendency to raise the rate of wages’. But a sudden increase of taxation, precluding as it does the possibility of previously modifying habits, ‘is unaccompanied by any alleviating circumstance. The mischiefs which it occasions are pure and unmixed.’

[1 ]Edinburgh Review, Jan. 1820, Art. IX, p. 180: the scheme is described as a ‘bold and decisive measure’, but ‘at all events to be considered as a dernier resort ’.

[1 ]‘The first number of The Scotsman newspaper was published in January 1817. The incalculable importance of this event can only be understood by those who recollect that shortly before this the newspaper press of Edinburgh, though not as much fettered as in St. Petersburgh (as it has been said to have been), was at least in as fettered a condition as any press that is legally free could be.’ (H. Cockburn, Memorials of his Time, Edinburgh, 1856, p. 308.)