271R. J. A. Salter to Harrod, 29 November 1932 [a]
Replies to a letter not found, which was received when Salter was in America. Salter agrees with Harrod's article in The Times on intentional reflation, on cheap money and open market policy, and deliberate encouragement of public authorities to resume useful capital expenditure on a loan basis.  He thinks, however, that meeting current governmental expenditure by inflation is a most dangerous method.
- a. From 66, Cornwall Gardens, S.W.7 # , one page TLS, in HP IV-1269.
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