I arrived in town yesterday, with the whole of my numerous family. We
are already as comfortably settled in Brook Street as under all
circumstances we can expect, and I hasten to inform you that we have a
bed ready for you, which I hope you will very soon occupy. I have
forgotten on which Saturday in the month you meet at the King of Clubs,
but conclude from your last meeting that it is the second. If so, you
will probably be in town to-morrow or Friday, when I shall hope that you
will lodge at our house and give us as much of your company as your
numerous friends will allow you to do.
You have probably ere this seen my book[125]. I have been reading it in
its present dress, and very much lament that I make no progress in the
very difficult art of composition. I believe that ought to be my study
before I intrude any more of my crude notions on the public.
It is said that the Bank have made some agreement with Government, but
what it is is not exactly known. They talk of the Bank advancing to
Government six millions at four per cent., besides continuing the loan
of three millions without interest. We shall not, however, be long in
suspense on this subject, as a general court of proprietors is to be
held to-morrow, when the directors will make some communication to the
proprietors to ask for their vote to sanction their agreement. They will
ask for this without giving them any information either respecting their
savings, their profits, or the amount of public deposits. Is not this a
ridiculous piece of mockery, and an insult to our common sense? I hope
there may be a few independent proprietors present who may call for
information, or who may at least demand a ballot, for which purpose nine
only are necessary[126]. You would be surprised at the abjectness of the
city men, and the great influence which the directors have in
consequence of their power of discounting bills. I am persuaded many of
the proprietors would vote very differently at a ballot, to what they
would by a show of hands.
I have not thought much on our old subject; my difficulty is in so
presenting it to the minds of others as to make them fall into the same
chain of thinking as myself. If I could overcome the obstacles in the
way of giving a clear insight into the original law of relative or
exchangeable value, I should have gained half the battle....
Very truly yours,
DAVID RICARDO.