DOCSLIB.ORG

Letters on the Sinking Fund from David Ricardo to Francis Place Author(S): David Ricardo Source: the Economic Journal, Vol

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Letters on the Sinking Fund from David Ricardo to Francis Place Author(S): David Ricardo Source: the Economic Journal, Vol Letters on the Sinking Fund from David Ricardo to Francis Place Author(s): David Ricardo Source: The Economic Journal, Vol. 3, No. 10 (Jun., 1893), pp. 289-293 Published by: Wiley on behalf of the Royal Economic Society Stable URL: http://www.jstor.org/stable/2955672 Accessed: 27-06-2016 09:56 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://about.jstor.org/terms JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. Royal Economic Society, Wiley are collaborating with JSTOR to digitize, preserve and extend access to The Economic Journal This content downloaded from 198.91.37.2 on Mon, 27 Jun 2016 09:56:17 UTC All use subject to http://about.jstor.org/terms NOTES AND MEMORANDA LETTERS ON THE SINKING FUND FROM DAVID RICARDO TO FRANCIS PLACE. [These letters are bound up in a volume of the Place MSS. in the British Museum (Add. MSS. 27836 ff. 113-118). The Editor's attention was directed to them by Mr. Graham Wallas, who is engaged on a memoir of Francis Place. The fund referred to is the second sinking fund, established in 1786 by Pitt after the abolition of the first (1716-1786). Much interest had been excited by an attack on the principles of this fund, in An Inquiry into the Rise, Progress, etc., of the National Debt, by Dr. Robert Hamilton, 1814 (reprinted in Macculloch's Collection of Scarce Tracts on the National Debt). Ricardo had dealtwith the question in his Essay on the Influenceof a Low Price of Corn, dc., p. 48 (1815), and Place had since 1814 kept up a constant agitation on the subject by means of anonymous letters and articles in the Morning ,Chronicle and other papers. In 1820 Ricardo was, with some difficulty, induced (according to Place) to write the article on ' The Funding System' for the Supple- ment to the Encyclopedia Britannica which appeared in 1824. In 1829 the Sinking Fund was finally abolished.] GATCOMBE PARK, MINCHINHAMPTON, NYovember 1st, 1819. DEAR SIR,- My object, as well as yours, is the discovery of truth; and therefore there is no occasion for apology on either side for freely commenting on each other's opinions. You say, that you do not make a distinction between a Sinking Fund provided by taxes, and a Sinking Fund borrowed, but that in both cases there is nothing but delusion. 'To a Sinking Fund borrowed,' you say, ' that there has been no other kind since 1793.' Now I cannot agree to this; I wish to ask whether during a portion of the time from 1793 to the present day, there was not, in consequence of that which you deem an unfounded and delusive name, less debt contracted than there would have been if no such name had existed. Twenty millions, for example, were required for the extraordinary expenses of 1796. Besides a million a year for interest, ?200,000 per annum were also provided, by taxes, for what was improperly called Sinking Fund. Suppose this to go on for several years, say ten years, is it not true that we shall, at the end of those years, be less in debt, than if we had No 10.-VOL. III U This content downloaded from 198.91.37.2 on Mon, 27 Jun 2016 09:56:17 UTC All use subject to http://about.jstor.org/terms 290 THE ECONOMIC JOURNAL continued our expenditure of twenty millions, and had provided only one million per annum for interest. it is demonstrable that the difference of our debt would be precisely equal to the sum which ?200,000 per annum, for ten years, another ?200,000 for nine years, another for eight years, and so on, would amount to, at compound interest, in ten years, and therefore in comparing these two modes of providing for expenditure together, it conveys no erroneous idea to say, that we shall owe less in one case than the other, by all the amount of the Sinking Fund and its accumulation. Strictly speaking there is no fund, for there can be no fund, anid no accumulation, while we are in debt. All that is received is applied to the payment of debt, or to prevent the contracting of it; but still, it is correct to say that the difference between A and B is equal to all the accumulations which a fund of any named amount would yield in a given time. Now suppose the Sinking Fund to be borrowed every year, then, indeed, you may justly say that the whole is a delusion; for it may be demon- strated that with a given expenditure you will be just as much in debt at the end of ten, or any other number of years, without, as with a, Sinking Fund. Is there not a very marked difference between the effects of one or other of these Sinking Funds? Yet your language would lead us to suppose there was none, for you say ' that neither in the one case nor in the other is there anything but delusion.' Suppose Mr. Pitt's plan to have always been fairly acted upon, and I should ask any of its supporters what benefit we had derived from it in diminishing or in preventing the accumulation of debt, would he not be correct if he showed me the amount of stock standing in the names of the commissioners, and told me that but for the operation of the Sinking Fund, the nation would really have owed that amount in addition to the unredeemed debt ? How, then, can you call the whole a delusion? I say the delusion is in ministers not having performed what they promised-they did not provide what they have always called a Sinking Fund from the taxes, but have for the last few years not only borrowed the Sinking Fund on the loan which they have created, but have not even provided the interest for them, and therefore it has become necessary to take the interest from the Sinking Fund. I hope now I have made myself understood; I concede to you that there is no real fund, nor can there be, while we are in debt, but that no delusion will arise from considering the Sinking Fund as a real fund, if we wish merely to make a comparison between the actual state of our debt, with a certain provision to check its accumulation, and its state if no such provision were made. You deny that Mr. Vansittart took anything from the Sinking Fund when he made his arrangements in 1813; you say ' there was nothing to take.' We will suppose a country to owe twenty millions per annum, and to consent to pay twenty-five millions per annum. It pays the five millions with the intention of arriving at a term when it shall not be called upon to pay anything, or, in other words, it prefers paying This content downloaded from 198.91.37.2 on Mon, 27 Jun 2016 09:56:17 UTC All use subject to http://about.jstor.org/terms LETTERS ON THE SINKING FUND 291 twenty-five millions per annum for a limited number of years, to, paying twenty millions per annum for ever. With the five millions per annum payments of capital are to be made, but without affording any relief to the country, which is always to pay twenty-five millions, t 11 the whole debt is paid. The first year twenty millions are paid to the public, and five millions to the commissioners; the second year ?19,750,000 to the public, and ?5,250,000 to the commissioners, and so, from year to year the payments to the public diminish, while those to the commissioners increase. Suppose that at the end of a certain number of years, seven millions only are annually paid to the public,, eighteen millions to the commissioners, and suppose at this time, the minister requires a loan of twenty millions. If he provides one million from the taxes for the interest of this loan, he will pay annually for interest and Sinking Fund on debt twenty-six instead of twenty-five millions, and though the debt will increase, the Sinking Fund will not diminish; but suppose he does not so provide the million- for interest, he will only pay twenty-five millions per annum: instead, however, of paying as before seven millions for interest and eighteen millions to the commissioners, he must now pay eight millions for interest and seventeen millions to the commissioners, and if, foreseeing that he shall want loans of an equal amount for several years to come, he should obtain an Act of Parliament allowing him to reduce the payment to the commissioners to eleven millions, and increase that to the public, by the creation of new debt, to fourteen millions, will he not have made a substantial inroad on the plan for the payment of debt ? This is what Mr. Vansittart has done, and yet you say, ' Nothing was in fact taken, nothing could be taken, because there was nothing to take.' If you say so because, strictly speaking, there is no fund, I will not dispute the matter, for it is in fact a dispute about words. What then do we differ about ? If we have not the means of paying off our debt so quickly as we otherwise should do, or, if we cannot check its increase so effectually in consequence of the new arrange- ment proposed by Mr.
Load more

Recommended publications
  • Dear Prudence: W.F. Lloyd on Population Growth and the Natural Wage
    Dear Prudence: W.F. Lloyd on Population Growth and the Natural Wage Michael V. White Economics Department, Monash University [email protected] Presented to the Twenty-Third Conference of the History of Economic Thought Society of Australia, University of Sydney, 7-9 July 2010. [T]hough the interest of the labourer is strictly connected with that of the society, he is incapable either of comprehending that interest, or of understanding its connection with his own. His condition leaves him no time to receive the necessary information, and his education and habits are commonly such as to render him unfit to judge even though he was fully informed. In the publick deliberations, therefore, his voice is little heard and less regarded… Adam Smith [(1776) 1976a, I, xi, p.266] The Reverend William Forster Lloyd, Student of Christ Church and former lecturer in mathematics, was elected as the third Drummond professor of political economy at Oxford University in February 1832. Following the requirements of the university statute which established the chair, Lloyd published the first of his lectures, titled “Two lectures on the checks to population”, in the next year [Lloyd 1833]. Having read that pamphlet, the radical Francis Place wrote to Lloyd because they were both “fellow labourers for the benefit of the people”. Place had concluded that Lloyd followed Thomas Robert Malthus and Thomas Chalmers in recommending “late marriages[,] the parties in the meantime living chastely”, as the cure for excessive population growth and hence the condition of “the working people”. Citing a lecture by the surgeon Dr.
    [Show full text]
  • 1. the Damnation of Economics
    Notes 1. The Damnation of Economics 1. One example of vice-regal patronage of anti-economics is Canada’s ‘Governor General’s Award for Non-Fiction’. In 1995 this honour was bestowed upon John Raulston Saul’s anti-economic polemic The Unconscious Civilization (published in 1996). A taste of Saul’s wisdom: ‘Over the last quarter-century economics has raised itself to the level of a scientific profession and more or less foisted a Nobel Prize in its own honour onto the Nobel committee thanks to annual financing from a bank. Yet over the same 25 years, economics has been spectacularly unsuc- cessful in its attempts to apply its models and theories to the reality of our civili- sation’ (Saul 1996, p. 4). See Pusey (1991) and Cox (1995) for examples of patronage of anti-economics by Research Councils and Broadcasting Corporations. 2. Another example of economists’ ‘stillness’: the economists of 1860 did not join the numerous editorial rebukes of Ruskin’s anti-economics tracts (Anthony, 1983). 3. The anti-economist is not to be contrasted with the economist. An economist (that is, a person with a specialist knowledge of economics) may be an anti- economist. The true obverse of anti-economist is ‘philo-economist’: someone who holds that economics is a boon. 4. One may think of economics as a disease (as the anti-economist does), or one may think of economics as diseased. Mark Blaug: ‘Modern economics is “sick” . To para- phrase the title of a popular British musical: “No Reality, Please. We’re Economists”’ (Blaug 1998, p.
    [Show full text]
  • The British Radical Literary Tradition As the Seminal Force in the Development of Adult Education, Its Australian Context, and the Life and Work of Eric Lambert
    Writing Revolution: The British Radical Literary Tradition as the Seminal Force in the Development of Adult Education, its Australian Context, and the Life and Work of Eric Lambert Author Merlyn, Teri Published 2004 Thesis Type Thesis (PhD Doctorate) School School of Vocational, Technology and Arts Education DOI https://doi.org/10.25904/1912/3245 Copyright Statement The author owns the copyright in this thesis, unless stated otherwise. Downloaded from http://hdl.handle.net/10072/367384 Griffith Research Online https://research-repository.griffith.edu.au Writing Revolution: The British Radical Literary tradition as the Seminal Force in the Development of Adult Education, its Australian Context, and the Life and Work of Eric Lambert By Teri Merlyn BA, Grad.Dip.Cont.Ed. Volume One School of Vocational, Technology and Arts Education Griffith University Submitted in fulfilment of the requirements of the Degree of Doctor of Philosophy Date:……………………………………………………………………… Abstract This thesis tells the story of an historical tradition of radical literacy and literature that is defined as the British radical literary tradition. It takes the meaning of literature at its broadest understanding and identifies the literary and educational relations of what E P Thompson terms ‘the making of the English working class’ through its struggle for literacy and freedom. The study traces the developing dialectic of literary radicalism and the emergent hegemony of capitalism through the dissemination of radical ideas in literature and a groundswell of public literacy. The proposed radical tradition is defined by the oppositional stance of its participants, from the radical intellectual’s critical texts to the striving for literacy and access to literature by working class people.
    [Show full text]
  • ACTA UNIVERSITATIS UPSALIENSIS Skrifter Utgivna Av Statsvetenskapliga Föreningen I Uppsala 196
    ACTA UNIVERSITATIS UPSALIENSIS Skrifter utgivna av Statsvetenskapliga föreningen i Uppsala 196 Svante Nycander The History of Western Liberalism Front cover portraits: Thomas Jefferson, Baruch de Spinoza, Adam Smith, Alexis de Tocqueville, Oliver Wendell Holmes, Joseph Schumpeter, Woodrow Wilson, Niccoló Machiavelli, Karl Staaff, John Stuart Mill, François-Marie Arouet dit Voltaire, Mary Wollstonecraft, John Locke, Jean-Jacques Rousseau, Immanuel Kant, Ludwig Joseph Brentano, John Dewey, Wilhelm von Humboldt, Charles-Louis de Secondat Montesquieu, Ayn Rand © Svante Nycander 2016 English translation: Peter Mayers Published in Swedish as Liberalismens idéhistoria. Frihet och modernitet © Svante Nycander and SNS Förlag 2009 Second edition 2013 © Svante Nycander and Studentlitteratur ISSN 0346-7538 ISBN 978-91-554-9569-5 Printed in Sweden by TMG Tabergs AB, 2016 Contents Preface ....................................................................................................... 11 1. Concepts of Freedom before the French Revolution .............. 13 Rights and Liberties under Feudalism and Absolutism ......................... 14 New Ways of Thinking in the Renaissance ........................................... 16 Calvinism and Civil Society .................................................................. 18 Reason as a Gift from God .................................................................... 21 The First Philosopher to Be Both Liberal and Democratic ................... 23 Political Models during the Enlightenment ..........................................
    [Show full text]
  • Vol. 3, No. 4, January, 1904
    Number 4 Volume 3 "THE TRIUMPH OF LABOR" By Antoine Wiertz THE COMRADE Beethoven By Carrie Rand Herron ONN, a town on the Rhine a few miles above training was severe and exacting in the extreme. He had Cologne, was the seat of an electorate and but little education aside from music. He learned to read, numbered some 10,000 inhabitants, which write and reckon," but before he was thirteen his father de were chiefly people of the court, and the cided his cholastic education was finished. His lack of edu priests. It was here, December 16th, 1770, cation was a sore trial and mortification to him all his life, that Ludwig van Beethoven was born. He though from a boy he was a great reader. was the oldest son of Johann and Maria He was a sombre, melancholy person and seldom joined Magdalena Beethoven. The father, who in the sports of his age. sang tenor and received an appointment as court singer, in At the age of eleven, he is said to have played the piano herited from his mother a desire for liquor, which doubtless forte with "energetic skill." At about this time, he wrote caused Ludwig muchvtrouble and anxiety during his early nine variations on a given theme, which his teacher had en life. His mother was the daughter of a head cook. The graved to encourage him. Neefe, with whom he was study "van" in the name is not a title of nobility, as is usually sup ing, and to whom Beethoven, after many years, acknowledg posed ; and Beethoven once said, pointing to his head and ed his many obligations, said that if he should keep on as he heart, "my nobility is here and here." had begun that he would surely become a second Mozart.
    [Show full text]
  • An Unpublished Letter from James Mill to Jean-Baptiste Say Victor Bianchini, Nicolas Rieucau
    An Unpublished Letter from James Mill to Jean-Baptiste Say Victor Bianchini, Nicolas Rieucau To cite this version: Victor Bianchini, Nicolas Rieucau. An Unpublished Letter from James Mill to Jean-Baptiste Say. History of Political Economy, Duke University Press, 2014, 46 (2), pp.333 - 338. 10.1215/00182702- 2647531. hal-01615078 HAL Id: hal-01615078 https://hal.archives-ouvertes.fr/hal-01615078 Submitted on 11 Oct 2017 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. An Unpublished Letter from James Mill to Jean-Baptiste Say Victor Bianchini & Nicolas Rieucau Forty years ago, on the occasion of the publication of two unpublished letters from J. Mill to J.-B. Say, A. Heertje underlined that “although Say was a friend and correspondent of James Mill, letters from Mill to Say seldom turn up”1. Dated the 25th of February 1817 and the 28th of May 1825, the letters published by A. Heertje were purchased from a Parisian bookshop and, outside the private collections of autographs, to our knowledge, no correspondence between J. Mill and J.-B. Say had been hitherto reported. Thanks to the development of electronic catalogues, it is now possible to find other traces of the epistolary relationship between J.
    [Show full text]
  • Phemister2017.Pdf
    This thesis has been submitted in fulfilment of the requirements for a postgraduate degree (e.g. PhD, MPhil, DClinPsychol) at the University of Edinburgh. Please note the following terms and conditions of use: This work is protected by copyright and other intellectual property rights, which are retained by the thesis author, unless otherwise stated. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This thesis cannot be reproduced or quoted extensively from without first obtaining permission in writing from the author. The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the author. When referring to this work, full bibliographic details including the author, title, awarding institution and date of the thesis must be given. ‘Our American Aristotle’ Henry George and the Republican Tradition during the Transatlantic Irish Land War, 1877-1887 Andrew Phemister PhD University of Edinburgh 2016 Abstract This thesis examines the relationship between Henry George and the Irish on both sides of the Atlantic and, detailing the ideological interaction between George’s republicanism and Irish nationalism, argues that his uneven appeal reveals the contours of the construction of Gilded Age Irish-America. The work assesses the functionality and operation, in both Ireland and the US, of Irish culture as a dynamic but discordant friction within the Anglophone world. Ireland’s unique geopolitical position and its religious constitution nurtured an agrarianism that shared its intellectual roots with American republicanism. This study details how the crisis of Irish land invigorated both traditions as an effective oppositional culture to the processes of modernity.
    [Show full text]
  • 'The State in Disguise of a Merchant': Extractive Administration in British
    ‘The State in Disguise of a Merchant’: Extractive Administration in British India, 1784-1834 Nicholas Hoover Wilson Department of Sociology The University of California, Berkeley November 25th, 2007 [email protected] An argument in state formation theory—particularly the development of the state's fiscal infrastructure—holds that the form of a state's administration is shaped by rulers' attempts to maximize resource extraction as constrained by local social structure. This view, however, does not adequately account for the variation in administration in British colonial India ca. 1784-1834. The British developed at least two systems for extracting land revenue. To account for this variation, I offer an approach derived from pragmatist theories of action which emphasizes contingent administrative development and fluid standards adjudicating between competing models of rule. Further, I suggest administrative variation was at least partially formed by struggles between administrations over visions of the imperial bond with Indian subjects and that this struggle had a fractal structure. …the India Company became to be what it is, a great Empire carrying on subordinately (under the public authority), a great commerce. It became that thing which was supposed by the Roman Law so unsuitable, the same power was a Trader, the same power was a Lord…In fact, [the Company] is a State in Disguise of a Merchant, a great public office in disguise of a Countinghouse…--Edmund Burke, 1788 Introduction Why do the organizational forms of state extractive
    [Show full text]
  • The Attitude of William Wilberforce and the Evangelicals Toward the Reform of Working-Class Conditions in Early Nineteenth-Century England James J
    College of the Holy Cross CrossWorks Fenwick Scholar Program Honors Projects 5-1970 The Attitude of William Wilberforce and the Evangelicals Toward the Reform of Working-Class Conditions in Early Nineteenth-Century England James J. Dorey '70 College of the Holy Cross, [email protected] Follow this and additional works at: http://crossworks.holycross.edu/fenwick_scholar Part of the History Commons Recommended Citation Dorey, James J. '70, "The ttA itude of William Wilberforce and the Evangelicals Toward the Reform of Working-Class Conditions in Early Nineteenth-Century England" (1970). Fenwick Scholar Program. 4. http://crossworks.holycross.edu/fenwick_scholar/4 This Thesis is brought to you for free and open access by the Honors Projects at CrossWorks. It has been accepted for inclusion in Fenwick Scholar Program by an authorized administrator of CrossWorks. THE ATTITUDE OF WILLIM; WILBERFORCE l;ND THE EVANGELICALS TOWARD THE REFORM OF WORKING-CLASS CONDITIONS IN EARLY NINETEENTH-CENTURY ENGLAND Exiled in America in 1818, \>lilliarri Cobbett mentioned its advantages in a letter to Henry Hunt: "No Cannings, Liverpools, Castlereaghs, Eldons, Ellenboroughs, or Sidmouths. No bankers. No squeaking \>lynnes. · No Wilberforcesl Think of~~ No 1 W'ilberforces!" Wilberforce was "an ugly epitome of the devil," according to another democrat, Francis Place, after the Peter- 2 loo debate. The substance of the charge was that the benevolence Wilberforce expended on African slaves and Indian savages, on everyone everywhere except in England, could have been better expended at home. Abolitionist and Evangelical, '•o/ilberforce _abhorred chattel-slavery abroad but tolerated wage-slavery in England. He was a hypocrite. More recently, commentators have noted the Evangelicals' "willful blindness," "atrophy of conscience," and "lukewarn;- ness" toward the plight of the working man.
    [Show full text]
  • Ricardo and the Corn Laws: a Revision
    Ricardo and the Corn Laws: a revision Samuel Hollander I was delighted to observe in your book how forcibly you de- scribed the inexhaustible energies of this tight little Island. -HUTCHES TROWERto Ricardo, 9 November I817 I Perhaps the best-known feature of Professor J. A. Schumpeter’s fa- mous account of Ricardian economics in his History of Economic Analysis is the severe criticism of the so-called Ricardian Vice-“the habit of piling a heavy load of practical conclusions upon a tenuous groundwork, which was unequal to it yet seemed in its simplicity not only attractive but also convincing.”’ More specifically: His interest was in the clear-cut result of direct, practical signifi- cance. In order to get this he cut that general system to pieces, bundled up as large parts of it as possible, and put them in cold storage-so that as many things as possible should be frozen and “given.” He then piled one simplifying assumption upon another until, having really settled everything by these assumptions, he was left with only a few aggregative variables between which, given these assumptions, he set up simple one-way relations so that, in the end, the desired results emerged almost as tautologies. The habit of applying results of this character to the solution of practical problems we shall call the Ricardian Vice. SAMUELHOLLANDER is Professor of Economics at the University of Toronto. I. Schumpeter, A History ofEconomic Analysis (New York, 1954), p. 1171. 2. Ibid., pp. 472-3. See also pp. 541, 618, 653 n., 668. In his exhaustive new study of McCulloch, Professor O’Brien draws a sharp distinction between the procedures of his subject and those of Ricardo: “Ricardo was the abstractionist par excellence: and as a pure theoretician he has had very few intellectual equals.” By contrast, for McCul- loch, “abstract ideas on their own were of very little interest, it was their practical conclusions, taking account of peculiar circumstances, which were important to McCul- loch.
    [Show full text]
  • 400457827009.Pdf
    Nova Economia ISSN: 0103-6351 ISSN: 1980-5381 Nova Economia Kulnig Cinelli, Carlos Leonardo; Arthmar, Rogério The debating tradition in Britain and the new political economy: William Thompson and John Stuart Mill at the London Co-operative Society in 1825 Nova Economia, vol. 28, no. 2, May-August, 2018, pp. 609-636 Nova Economia DOI: 10.1590/0103-6351/3583 Available in: http://www.redalyc.org/articulo.oa?id=400457827009 How to cite Complete issue Scientific Information System Redalyc More information about this article Network of Scientific Journals from Latin America and the Caribbean, Spain and Portugal Journal's homepage in redalyc.org Project academic non-profit, developed under the open access initiative DOI: http://dx.doi.org/10.1590/0103-6351/3583 The debating tradition in Britain and the new political economy: William Thompson and John Stuart Mill at the London Co-operative Society in 1825 A tradição de debates na Grã-Bretanha e a nova economia política: William Thompson e John Stuart Mill na Sociedade Cooperativa de Londres em 1825 Carlos Leonardo Kulnig Cinelli (1) Rogério Arthmar (2) (1) Universidade de Brasília (2) Universidade Federal do Espírito Santo Abstract Resumo This paper reviews the debate between Wil- O artigo analisa o debate entre William Thomp- liam Thompson and John Stuart Mill that son e John Stuart Mill ocorrido na Sociedade happened at the London Co-operative Soci- Cooperativa de Londres em 1825 a respeito das ety in 1825 over the advantages of coopera- vantagens do cooperativismo face ao sistema com- tion as against free competition. The general petitivo.
    [Show full text]
  • “An Open Field and Fair Play” the Relationship Between Britain and the Southern Cone of America Between 1808 and 1830. Marc
    “An Open Field and Fair Play” The relationship between Britain and the Southern Cone of America between 1808 and 1830. Marcelo Somarriva History Department UCL PhD in History 1 “I, Marcelo Somarriva, confirm that the work presented in this thesis is my own. Where information has been derived from other sources, I confirm that this has been indicated in the thesis.” 2 Abstract This thesis explores the relationship between Great Britain and the Southern Cone of America between 1808 and 1830, from the perspective of the cultural representations which both regions developed about themselves and about each other. In order to do so, this work consulted newspapers, journals, pamphlets, prospectuses and books published in Great Britain and in the United Provinces, Chile and Perú between 1808 and the 1830’s. This work analyses the way in which cultural representations affected the possibilities for commercial and political relations between Great Britain and the Southern Cone, studying the formation and impact that some economic discourses, particularly about commerce, had in the mindscape of British explorers and South American elites. It also examines the consequences they had in the entangled relationships between Great Britain and the Southern Cone in the first stages of the arrival of global capitalism The work is divided into five chapters. The first deals with the initial stage of the relationship between the Southern Cone and Great Britain during the wars of independence. The second intends to answer the question of what did the elites in the Southern Cone think about foreign commerce and the opening of their countries to commercial expansion.
    [Show full text]