Econlib

The Library

Other Sites

 Front Page arrow Titles (by Subject) arrow 517b.: ricardo to mallet1[Reply to 517a] - The Works and Correspondence of David Ricardo, Vol. 11 General Index

Return to Title Page for The Works and Correspondence of David Ricardo, Vol. 11 General Index

Search this Title:

517b.: ricardo to mallet1[Reply to 517a] - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 11 General Index [1810]

Edition used:

The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 11 General Index.

Part of: The Works and Correspondence of David Ricardo, 11 vols (Sraffa ed.)

About Liberty Fund:

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


517b.

ricardo to mallet1
[Reply to 517a]

Upper Brook Street 25 Feby. 1823

My Dear Sir

Your very judicious remarks upon Savings Banks shall be communicated to Mr. Hume, and I have no doubt he will think with you that it will not be expedient to agitate the question of interest at the present moment. I heard the observations he made in the House—his objection was against the rate of interest allowed by Government, he said that a considerable loss was sustained by the public between the rate allowed, and that obtained by the Commissioners by investing the money in Stock. For the reasons you give I think the present not a favourable time to make any alteration in the rate of interest. Mr. Woodrow, the author of an annuity plan,2 is very desirous of giving the working classes the opportunity of purchasing annuities on the lives of their children to commence after the children arrive at a certain age: I once mentioned the plan in the House. If any alteration were made in the Savings Bank Act I think I should again suggest this annuity plan.

Ever My Dear Sir Yours very faithfully

David Ricardo

J. L. Mallet Esqr

[1 ]MS in Sotheby’s sale of 19 Feb. 1963, part of lot 456.

[2 ]On Woodrow’s annuity plan, see above, V, 121, 128–9.