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]

420.

ricardo to trower1
[Reply to 419]

London 2 March 1821

My Dear Trower

Before I address you on any other subject, I must express the great pleasure I have felt, from hearing from all quarters, and from all parties, commendations of your impartiality and talents, on the occasion of the County meeting in Surrey, at which you presided.2 Before the meeting I was sure that the part you had to perform would be done in a way to reflect credit on you, but I confess I did not expect that the opportunity would have been so favourable for the display of the good temper, moderation and talents which so certainly belong to you.

I was disappointed in not seeing you on your late short visit to London. I hope that you will soon be disposed to take another trip to this busy scene, and that then you will not forget the satisfaction you will afford me by giving me your company as often as you may find it convenient.

Mr. Malthus has now had my notes for 5 weeks,—he has been interrupted in the examination of them by the death of Mr. Dalton, a friend of his in Lincolnshire, to whose funeral he was obliged to go.1 I expect to see him in London next week at which time he will no doubt return me my MS. I am glad that you speak with approbation of the spirit in which I carry on the contest with Mr. Malthus—I always wish him to see what I have to say against his opinions before I publish them, that I may be sure that I have not misunderstood him, and therefore not misrepresented him. He certainly has not done the same thing to me, and has, I am sure, without intending it, misrepresented me in many important particulars.

A writer in the Times of this morning2 appears to have adopted some of Malthus’ principles, and the conclusions he draws from them are so wild and extravagant, that if we had no other reason for suspecting their fallacy, these would afford them. This writer recommends that we should raise loans now instead of the taxes with which we are burthened, and for this sagacious reason, because it will promote expenditure and take off the superfluity of our productions.

In my dispute with Baring the House listened to me with great attention. The subject of the two standards will again come under discussion, and I shall be prepared to shew from Baring’s evidence that there are insuperable objections to the alteration which he proposes.3 He, I am sure, ascribes too much to the rise in the value of money and I am prepared to shew that even measured by silver, that is to say by the exchange with France, or Hamburgh, the rise in our currency has not been more than 10 pc. in five years,—he may answer that silver itself has risen in value,—that may be, but then it is common to all countries that use silver as a standard, and I should be glad to know what security we can have against such an inconvenience, whilst we use the metals as a standard, and by what means he would guard us against it. Would he give us the paper system again unchecked by a fixed standard?

I am sorry that no security can be found against the forgery of Bank notes,—the recalling of the one pound notes cannot fail to enhance the value of the currency.1

You speak of the landholder most justly—he is an interested being seeking unjustly to load the other classes of the community with his share of the public burthens. I am however disposed to concede that if we are to have restrictions on the importation of foreign corn the most eligible mode would be by a fixed duty, not more operative in excluding corn than the present restrictions; for I think it is better to have a steady price of corn, rather than one which must alternate from low to high and then from high prices to low ones again. On the present plan we are either overwhelmed with foreign corn, or totally deprived of it.

Mr. Plunkett’s speech the other evening was a very fine one2 —I thought Peel tame and feeble. Surely no reasonable man can apprehend danger to the United Kingdom from according the catholic claims in Ireland—I believe that the church establishment in Ireland would be more secure, but I should not see much to regret if Ireland had a catholic establishment, in the same way as Scotland has a presbyterian one. If there be an established religion it should be that of the greatest number. In this I do not expect you to agree with me. Fare you well my dear Trower, and believe me ever Y^rs.

David Ricardo

Mrs. Ricardo begs to join with me in kind remembrances to Mrs. Trower.

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

[2 ]The meeting of the freeholders of Surrey, held on 2 Feb. 1821 at Epsom, had adopted resolutions deprecating the proceedings against the Queen and urging economy in public expenditure. Trower, as Sheriff of the county, presided. (The Times, 3 Feb. 1821.)

[1 ]Cp. above, VI, 35, n. 1.

[2 ]The fourth of a series of letters ‘On the Revenue and Taxation’, signed ‘Abraham Tudela.’

[3 ]See above, V, 93, n. 3 and 106.

[1 ]On 20 February it was stated in the House of Commons that the Commissioners appointed to inquire into the means of preventing the forgery of Bank Notes had so far failed to discover a process which would produce an inimitable Bank Note. Vansittart on 19 March pointed to these disappointing results as a circumstance which justified the anticipation of the period in which the Bank should resume the issue of gold coins. (Hansard, N.S., IV, 804 and 1316.)

[2 ]On his own Motion for a Committee on the Claims of the Roman Catholics of Ireland, 28 February; Hansard, N.S., IV, 961 ff. Peel opposed the motion which was carried by 227 votes to 221; accordingly, on 2 March a bill was ordered to be brought in. Hansard gives the lists of majority and minority and it is curious that Ricardo’s name should not be included, although from this letter he appears to have been present in the House. Cp. above, V, xxii-xxiii.