Front Page Titles (by Subject) 482.: ricardo to sinclair1 - The Works and Correspondence of David Ricardo, Vol. 9 Letters 1821-1823
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482.: ricardo to sinclair1 - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 9 Letters 1821-1823 
The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 9 Letters 1821-1823.
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First published by Cambridge University Press in 1951. Copyright 1951, 1952, 1955, 1973 by the Royal Economic Society. This edition of The Works and Correspondence of David Ricardo is published by Liberty Fund, Inc., under license from the Royal Economic Society.
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ricardo to sinclair1
Gatcomb Park, Minchin-Hampton, 29th January 1822.
You are fully aware that you and I do not agree in our opinion of the causes of the present agricultural distress, nor in our views of the remedies which it would be expedient to apply to it. We agree still less on the disadvantage which you suppose to have resulted to the importer of corn, from the increased value of the currency. The question you put to Mr. Attwood is not a fair one; for the same cause which would elevate the exchange from 18 to 25, would lower corn from 40s. to 28s. 9d. per quarter, and it would be a matter of indifference to the foreign exporter of corn to England, if he sold it at 40s., and negociated his bill at 18 francs per pound Sterling, or sold it at 28s. 9d., and negociated his bill at 25 francs. Is it not a fallacy to suppose money so to rise in value that gold should appear to fall from £.5, 10s. to £.3:17:10½, the exchange rise from 18 to 25, and yet suppose wheat to remain steadily at 40s. per quarter? I remain, Dear Sir, your faithful and obedient servant,
[1 ]Correspondence of Sir John Sinclair, vol. i, p. 375; Letters to Trower, LIII.—The letter refers to a pamphlet by Sinclair, Address to the Owners and Occupiers of Land, Edinburgh, Constable, 1822, of which there is a copy in R.P.