323R. M. C. Hollis to Harrod, 1 November [1933] [a] , [1]
Hollis is enthusiastic about Harrod's lucid essay in Cole's money book, [2] but asks further explanations as to whether the banks or the community have to be considered as the creators of the money that the banks lend. Similarly, he asks--with reference to the scheme Harrod and his friends advocated in The Times [3] --whether the government should borrow that money for public works.
2. Harrod, "Currency and Central Banking" ( 1933:13 ).
3. Harrod, "More Money in Circulation" ( 1933:1 ).