Ricardo à MacGulloch, 7 avril

4. Ricardo à MacCulloch, 19 fév. 1822 ; — 19 mars 1822 : I was glad to find that the opinions whicti we both hold were so ably and clearly expressed, aad eannot but anticipate from your efforts their progress and gênerai disseminating ; — 7 mai 1822 : I bave looked for faults, and not for beauties, in your lectures. I bave been able to find very few that appear to me to be sucb, and wbere I do find them, they are cbiefly on points on wbicb a little différence of opinion exists between us ; — 25 mars 1823 : I am glad to hear tbat your lectures bave been sucoessful. You are doing a great deal of good in tbe world : I wish I was as usefully employed, but my powers of writing and speaking are very limited.

5. Supplément to the Fourth, Fifth and Sixth Editions of the Encyclopœdia Britannica, vol. VI, pp. 216-278. — Ricardo à MacCulloch, 25 mars 18i3 : 1 bave just finished reading your essay PolUical Bœnomy for tbe supplément to the Encyclopaedia, when I received your letter... Résides a Taluable bistorical sketch, you hâve given so clear an exposition of ail the important principles of the science tbat you bave left nothing for me to wish for.

6. PolUical Eœnomy Club y founded in London, 1821. — Minutes ofProceeding$, 1821-1882, roU of members, and questions discussed, vol. IV, London, 18S2, pp. 35 sqq. Formation of the Club. Première réunion préparatoire, 18 avril 1821 : neuf personnes présentes, parmi lesquelles Thomas Tooke, le colonel Torrens, James Mill. — 30 avril : réunion bû la Société se constitue : Malthus, Ricardo et Grote y assistent. Vn règlement est adopté. Le Club sera composé de trente membres. A chaque réunion, trois membres. A chaque réunion, trois membres, désignés par roulement, soumettront trois questions à la société ; et Tune de ces questions fera Tobjet de la discussion à la réunion suivante. James Mill prend

40« NOTES. (Pp. 56-59)

une part assidue aax débats de la société jusqu*en 1825 ; il n'assiste que très rarement aux séances à partir de cette date. — Cf. Bain, p. 198. — Ricardo à J. B. Say, 8 mai 1821, 5 mars 1822.

7. St. Mill, Autobiography, pp. 28, 62. — Ricardo à Malthus, A sepU 1820 : Mill... bas it in contemplation to wrile a popular work on Political Economy, in which he will explain tbe principles wbicb be tbinks correct in tbe most familiar way for tbe use of learners. It is net bis intention to notice auy person*s opinions or to enter into a contro- ^'ersy on tbe disputed points.

8. Scots Magazine and Edinlmrgh Likerary MùceUany, oct. 1818, pp. 335-338 : a Strictures on Mr. Ricardo^s Doctrine respecting Excbangeable Value >. Signé R. *

9. /Wd., nov. 1818, pp. 429-431 : t Mr. Ricardo's Tbeory of Excbangeable Value Vindicated from tbe Objections of R. — V. Ricardo à Trower,. 2 nov. 1818 : Torrens I understand is to attack my doctrine of rallie in tbe next number of tbeËdinburgh Magazine, and in tbe nnmber foUowing M'CuUocb is to défend it It is a friendly contest. Tbese gentlemen bave lately met at Edinburgk.

10. Ricardo avait écrit {Principles, Ist éd., p. 568) : Tbe real priée of n commodity is bere properly atated to dépend on tbe greater or leai quantity of labour and capital (that is, accumulated labour) wbicb mnst be employed to produce it. — Il sMnspirait sans doute d*UBe phrase d'Adam Snitb, où se manifeste déjà la préoccupation simplificatrioe de ramener les profits du capital aux salaires du travail ( W. of iV., vol. I, p. 332i : The labour of tbe manufacturer fixes and realises itself in some partiralar subject or vendible commodity, wbicb lasts for some time at least afker that labour is past. It is, as it were, a certain quantity of labour stocked and stored up to be employed, if necessary, upon some otber occasion. That subject, or, wbat is tbe same thing, tbe price of that subject, can afterwards, if necessary, put into motion a quantity of labour equal to that which had originally produced it.

M. Ricardo à MacCulloch, 18 déc. 1819 : Col. Torrens shewed me tbe paper wliich is a copy of the une he sent to you. 1 am more convinced than ever that the great régula tor of value is the quantity of labour required to producc tbe commodity valued. There are many modifications which must be admitted into this doctrine, frum the circumstance of the unequal times that commodities require to be brougbt to market, bot this does not invalidate the doctrine itself. I am not satisûed wiik the explanation which I hâve given of the principles wliicb regulate value. I wish a more able (len would undertake it. The fault is not ii thf inadequacy of the doctrine to accouni for ail difliculties, but in the inadequacy uf him who has altcmpted to explain it.

12. Pray do you allow that in dilTerent coun tries where profits tre

(Pp. 59-66) NOTES. 403

différent your theory of yalae does not hold good ? I donH feel qnite strre. (MaMhuB à RIcardo ; cité par Ricardo, lettre à Trower, 23 août 1W7) . — • Cf. Rieardo à "Malthiis, 4 sept. 1817 : 1 certainly allow that my theory of values does Dot hold good in différent coun tries when profits are différent. If you look to page 156 (éd. McG. p. 75) and liie foUowing pages you uriU see my ideas on that subject. — Y. encore, 30 janvier 181^ : Lord King, Mr. -Whishaw and you hâve done me a great deal of honour in makingmy work the subject of your discussions, but I oonfess it fills ne vrith astonishment to find that you think, and from what jou 6ay they appear to agrée with you, that the measure of value is not what I bave represented it to be.

13. Prmciples of PoHtical Ecotiomy, canaidered with a view to their pracUccU application^ 1820 ; 2* éd. (posthume) avec additions, 1836.

14. Meanire of ViXiue stated and Ulustrated, introduction, p. V : Under thèse droumstances, bvring, by a process quite différent from that of Adam Smith, and dépendent on doctrines relatingto the gradations of soil, wfaich were not noticed by him, arrived at the oondnsion, that the larbour which commodities will comraand may be oonaidered as a standard measure of their natural and exchangaable value. ..

15i. Pri/tcsp/ei, -p. 11«

f6. Ibid. : Subject to as many fluctuations as tbe commodities compare4 with it.