506R. R. Kelf-Cohen to Harrod, 1 January 1936 [a]
With regard to Harrod's prospected Copenhagen lecture, Cohen informs him on the difficulties with Denmark regarding the Valutakontor,  and the Danish view of it: being a vital instrument for promoting United Kingdom's trade with Denmark, it was necessary to prevent its abolition and to regulate its operation, for it was sometimes used against British interests. Cohen implicitly asks if Harrod, although mainly inclined to discuss of internal planning, could suggest that such planning would be impossible without control of foreign trade, for which some sort of Valutakontor is essential. Cohen also explains that devaluation would imply unhappy effects by starting a competition in depreciation with the Dominions, in particular with Australia and New Zealand. 
2. Harrod, "The Choice of a Currency Policy", lecture to be delivered on 10 January 1936 before the British Import Union, here as essay 16 . On depreciation see [jump to page] - [jump to page] . See note 1 to Harrod's lecture for further details on context, and letters 502 R and 504 R for the concerns of the Board of Trade and the British Council.
- a. From Board of Trade, London # , two pages TLS, in HP VII/G-1/9.
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