Abstract
In 1825, Bailey published his famous Critical Dissertation on the Nature, Measure and Causes of Value.1 In January 1826 the Westminster Review published an extremely sharp and critical review of Bailey’s book.2 McCulloch, who, if he knew the author of this attack, did not care to reveal it, referred to the Westminster Review piece as ‘a very captious article’3 and it seems fair to say that this was not an untypical reaction. The authorship of the review was not, however, made public and has remained a matter of speculation ever since. Both James and John Stuart Mill were known to be connected with the Westminster, which had been founded in 1824 as a review presenting the views of the utilitarians and radicals; and Fetter has written: ‘It was understood that James Mill, whose position at the India House made it inadvisable for him to appear as editor, would contribute on economics.’4 James Mill has undoubtedly been the prime suspect, and was believed to be the author by Henry Higgs, Viner, and Hayek, while both Edgeworth and Schumpeter believed that John Stuart Mill was the author of the attack. Rauner, who reviewed the matter extensively, concluded that James Mill was certainly the author.5
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Notes
S. Bailey, A Critical Dissertation on the Nature, Measure, and Causes of Value,; Chiefly in Reference to the Writings of Mr. Ricardo and his Followers. By the Author of Essays on the Formation and Publication of Opinions, &c. &c,. (London: R. Hunter, 1825). There does not seem to be any dispute about the authorship of this work. R. M. Rauner, in his Ph.D. thesis, ‘Samuel Bailey and Classical Economics’ (University of London, 1956) notes (p. 713) that Bailey’s signature appears on the title page of the copy of the Critical Dissertation, in the Department of Local History, Sheffield City Library.
F. W. Fetter, ‘Economic Articles in the Westminster Review, and their Authors, 1824–51’, Journal of Political Economy, 70 (1962) pp. 570–96 at pp. 570–1.
R. M. Rauner, Samuel Bailey and the Classical Theory of Value, (London: Bell, 1961) (hereafter cited as Value), pp. 149–57.
J. Mill, Analysis of the Phenomena of the Human Mind, (London: Baldwin and Cradock, 1835).
Ibid., p. 153. On this, see D. P. O’Brien, J. R. McCulloch: A Study in Classical Economics, (London: Allen and Unwin, 1970) pp. 130–6.
Rauner, Value, p. 155. The attack was in James Mill, A Fragment on Mackintosh; being Strictures on Some Passages in the Dissertation by Sir James Mackintosh prefixed to the Encylopaedia Britannica, (London: for Baldwin and Cradock, 1835).
See the diary of J. L. Mallet in Political Economy Club Centenary Volume, (London: Macmillan, 1921) p. 224.
On James Mill as the man ‘behind’ Ricardo, see T. W. Hutchison, ‘Some Questions about Ricardo’, Economica, N.S. 19 (1952) pp. 415–32 at pp. 431–2.
E. Halevy, The Growth of Philosophic Radicalism, trans. M. Morris (London: Faber, 1928) p. 445.
J. S. Mill, Autobiography, 8th edn (London: Longman, 1886) p. 122.
A. Bain, James Mill. A Biography, (London: Longman, 1882; reprinted New York: A. M. Kelley, 1967) pp. 27–9, 156–7, 162.
J. S. Mill, A System of Logic Ratiocinative and Inductive Being a Connected View of the Principles of Evidence and the Methods of Scientific Investigation, (1843), reprinted ed. J. M. Robson and R. F. McCrae (Toronto: Toronto University Press, 1973).
Autobiography, p. 133. See also M. St J. Packe, The Life of John Stuart Mill, (London: Seeker and Warburg, 1954) p. 74.
S. Bailey, A Letter to a Political Economist Occasioned by an Article in the Westminster Review on the Subject of Value. By the Author of the Critical Dissertation on Value Therein Reviewed, (London: R. Hunter, 1826).
Letter, p. 79; J. Mill, Elements of Political Economy, 2nd edn (London: Baldwin, Cradock and Joy, 1826) p. 98.
The paper was apparently sent to Mill, for it was found amongst the Mill— Ricardo papers, but must have been considered by him to be unsuitable for publication — see Ricardo, Works, ed. Sraffa (Cambridge: Cambridge University Press, 1951–73) IV, pp. 358–9.
‘While the knowledge of the science [of Political Economy] is still confined to a comparatively small number, it has two powerful classes of enemies, the interested and the ignorant; who, we daily see, assume to themselves a merit in decrying it.’ Westminster Review, loc. cit., p. 172. See also Professor D. Winch’s comments in James Mill: Selected Economic Writings, (Edinburgh: Oliver and Boyd, 1966) p. 192.
A New English Dictionary on Historical Principles, ed. J. A. H. Murray vol. II (Oxford: Clarendon Press, 1889) p. 892.
Westminster Review, III (January 1825) pp. 213–32, ‘Periodical Literature — Quarterly Review: Political Economy’. The source for the attribution is the standard work N. MacMinn, J. R. Hainds and J. M. McCrimmon, Bibliography of the Published Writings of John Stuart Mill, (Evanston, Ill.: Northwestern University, 1943), which is based upon Mill’s own list.
J. S. Mill, Principles of Political Economy with some of their Applications to Social Philosophy, (1848), reprinted ed. J. M. Robson, 2 volumes (Toronto: Toronto University Press, 1965). See, in particular, the discussion of causes of changes in value (I, pp. 159–60), and of the impossibility of a general rise in value (I, pp. 166–7).
J. M. Robson, ‘A Note on Mill bibliography’, University of Toronto Quarterly, 34 (October 1964) pp. 93–7. We have checked the Somerville set against what is known from other sources, and it appears to be accurate, though not comprehensive.
Mill to Ricardo, 28 December 1820, Works, VIII, pp. 326–9.
Notes to Chapter Seven: McCulloch, Parnell, and the Edinburgh Review,
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© 1982 D. P. O’Brien and A. C. Darnell
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O’Brien, D.P., Darnell, A.C. (1982). The Authorship of the Westminster Review Attack on Samuel Bailey and the Authorship of James Mill’s Elements . In: Authorship Puzzles in the History of Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-05697-2_6
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