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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]

388.

malthus to ricardo1
[Reply to 379.—Answered by 392]

E I Coll Sep^r 25^th. [1820]

My dear Ricardo,

I am glad to hear that you are enjoying yourself at Gatcomb. I have no doubt it looks very delightful now, and it would give me great pleasure to pay you and Mrs. Ricardo a visit there, if we were not so completely tied by the leg in the intervals between the vacations. You will leave it I have no doubt with regret in October to attend on this terrible business of the Queen. I am inclined to think perhaps that there is rather more in the State part of the question than you do; but whatever evils might have arisen from her having all the rights and privileges of a Queen, they would have been less than the evils attending the present unfortunate discussion. One can hardly see any tolerably good termination to it.

When I received your letter I had not seen Say’s publication.2 He promised to send it to me and I had been expecting it, but at last I got tired of waiting, and sent to my bookseller for it. I do not think it is a very able performance. There are more contradictions in it than those which relate to value, and there are some doctrines, besides those which directly concern me that appear to me to obscure, rather than to throw light on the general subject. I cannot agree with him in making no distinction between services and products, in his strange and useless application of the term utility, in his opinions respecting the immateriality of revenues, and in his mode of reasoning by exclamations which enable him to stop short when he comes to the stress of the argument. After all, in a note referring to you p. 101 he fully concedes all that I contend for. He says “qu’il y a beaucoup d’epargnes qui ne se placent pas lorsque les emplois sont difficiles, ou qui etant placées se dissipent dans une production mal calculé”—and this he illustrates by the present state of France. The present state of things indeed in England America Holland and Hamburgh still more than in France does appear in the most marked manner to contradict both his, and your theory. The fall in the interest of money and the difficulty of finding employment for capital are universally acknowledged, and this fact, none of your friends have ever accounted for in any tolerably satisfactory manner; but what confidence can be placed in a theory, as the foundation of future measures which is absolutely inconsistent with the past and the present state of things.

I quite agree with you in regard to the error committed by Say and Torrens about the necessity of counter commodities in all cases. The commodity in which there is a glut should as you say be produced in less quantity; and the true question is, whether the capital and labour so withdrawn can with certainty find employment without any other fall of profits than that which arises necessarily from the state of the land, or temporarily from the improved condition of the labouring classes. You say that no other fall can take place. I say, not that such other fall must necessarily take place, but that it may take place according to the justest theory of demand and supply, and may occasion a positive diminution in the will and power of capitalists to command labour, which will of course throw labourers out of employment and deteriorate their condition. On these two different statements I conceive issue is joined between us. I am very sorry that a second attentive reading of my book has made no sort of impression upon you: but greatly as I respect your authority, yet if yours, as you say, is the true faith, I much fear that in spite of my orthodox tendencies, I must continue a heretic. I do not acknowledge however that I am heretical in reference to my former doctrines as stated by Say. I never affirm that necessaries if distributed to the labourer in abundance will not increase population rapidly; But I affirm that if the farmer has no adequate market for his produce, he will soon cease to distribute more necessaries to his labourers, an event which is continually occurring all over the world. This important distinction however Say does not make for me, but runs off into an ‘Eh! Monsieur!’

It is quite true as you observe that we do not mean the same thing in speaking of value, and I am willing that the question should be tried by the relative utility of the two definitions in an inquiry into the nature and causes of the wealth. It is not however merely a question of arbitrary definitions. You assert that with few exceptions the quantity of labour employed on commodities determines the rate at which they will exchange for each other. This is a proposition; and one that is not well founded, so that I should doubt whether you will be able to alter your first chapter satisfactorily to yourself. I shall like however much to see it, and am very glad to hear that you are preparing another edition. I am surprised that Torrens has not continued his remarks in the Traveller. I shall like to see Mccullochs article on tithes. I doubt whether I agree with him quite in the principle. Pray when you see or write to Mill remember me kindly to him. I shall expect his work on political economy with great pleasure though I think that an elementary treatise on this subject should be delayed for a few years.

I have not yet seen the last volume of the Encyclopaedia, where your funding paper is, but I expect it soon.

Mrs. Malthus sends her kind regards to Mrs. Ricardo. We hope all the family are well at Gatcomb.

Ever truly Yours

T R Malthus.

[1 ]Addressed: ‘D. Ricardo Esqr MP. / Gatcomb Park / Minchinhampton / Gloucestershire’.

Postmark, 1820.

MS in R.P.

[2 ]Lettres à M. Malthus.