424R. George Leveson-Gower to Harrod, 29 January 1935 [a]

Leveson-Gower sends Harrod a rejoinder by Mr Mason to Harrod's "rather severe" but "not very helpful" criticism of the proposals of the Sound Currency Association, which Leveson-Gower had sent to Mason. In reply to Harrod's argument that a standard "ought to have stable value as a yard measure ought to be stable in length", Mason admits that the gold standard is not so stable as required, but it is nonetheless the most stable yet proposed. [1]

  1. 1. D. M. Mason (1865-1945), Liberal MP for Edinburgh East (1931-35), author of various pamphlets on political and financial subjects, associate of the Institute of Bankers, was the founder and Chairman of the Executive Committee of the Sound Currency Association. Mason repeatedly advocated in the House of Commons that the government should aim at the restoration of stability of exchange by means of a stabilization of sterling at a figure as near as possible to the old parity (see for the most recent instance Official Reports, Fifth Series. Parliamentary Debates. Commons, vol. 296, 21 December 1934, pp. 1568-73).
    1. a. From 10, Thurloe Place, S.W.7. # , ALS, one page, with attached letter by D. M. Mason (MP), from the House of Commons, 29 January 1935, in HPBL Add. 71185/99-100.

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