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- 5 July 1850 (Creation)
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4 pp.
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Germany - WW and Cordelia Whewell have 10,000 pounds of their marriage trust money payable on August 16 from the Lancaster and [Preston?] Railway. The company want to know if they would reinvest for another three or five years at four percent. What does RJ think? WW has heard nothing more from the Cambridge University Commission: 'I should suppose we may meet it in such a way as to incur no needless danger; but I confess I have a strong persuasion that Lord John [John Russell] will not be satisfied till his move has ended in something being done as to the distribution of funds, and I do not see how anything of that kind can be done without a more perilous infraction of our corporate rights'. WW forgets whether he directed to RJ a copy of his paper in the Cambridge Philosophical Transactions on certain algebraical ways to treat political economy ['Mathematical Exposition of Some Doctrines of Political Economy: Third Memoir', Camb. Phil. Trans., 1850]: 'the paper really does contain a refutation of certain vaunted theorems of John S. Mill on international trade; shown them to be true, even on their mathematical assumptions, within very narrow limits'. WW gives his solution to the cause and measure of the different value of money in different countries: 'The main point of my solution comes to this, that the value of money is high in a country which has the (money) balance of trade shading in its favour, and of course, low where the balance is against the country'.