Abstract
In debates on the currency after 1819 Ricardo was almost invariably obliged to go on the defensive. However during the current year parliament was confronted with a number of issues in economic policy which enabled Ricardo to play a more positive role. These included taxation relief, reduction of import duties, repeal of the usury laws and reform of the poor laws. In each of these contentious areas Ricardo pushed ahead with his campaign for minimal legislated direction of economic life.
It was contended that the interest of the producer ought to be looked to, as well as that of the consumer, in legislative principles. But the fact was, that in attending to the interest of the consumer, protection was at the same time extended to all other classes. The true way of encouraging production was to discover and open facilities to consumption.
David Ricardo
House of Commons, 16 April 1821
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Notes
The House continued in the same mood the following day (ibid., 1401–9) when on the initiative of Joseph Hume the government was obliged to set up a committee to examine the administrative arrangements for the collection of certain forms of taxation. This led to reforms which were a definite step in the direction of modern Civil Service organisation concerning revenue gathering. Consult L. S. Pressnell, op. cit., 549. Another fruit of Hume’s campaign was the important Treasury Minute of 10 August 1821 which urged economy throughout all government departments. For detail, see H. Roseveare, The Treasury, 1600–1870 (London: Allen &; Unwin, 1973 ) 67–8 and 161–3, and
H. Roseveare, The Treasury: the Evolution of a British Institution ( London: Penguin Press, 1969 ) 160–1.
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© 1976 Barry Gordon
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Gordon, B. (1976). 1821: Repeal and Reform. In: Political Economy in Parliament 1819–1823. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-02119-2_11
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