The paper is divided in two parts. In the first I consider the nature of Ryle's attack on Collingwood's appropriation of the ontological argument and Collingwood's defence in the unpublished correspondence. In the second, I go beyond the confines of the Ryle-Collingwood exchange in the mid 'thirties to say something much more general about the nature of Collingwood's metaphysics as well as to advance an explanation of the compatibility of Collingwood's combined defence of descriptive metaphysics and the ontological proof.