gold in the world is in the British Empire
in the U.S. and in Russia...and ... I ...reckon( this came out
still more slowly ) that any attempt to diminish the
power of those who own it would meet with serious opposition. "

The careful examiner, even if hurried, might
be surprised to find several congressmen and senators in
Washington who do an honest days work.

In his brief visit to France's " sister republic " your
venerable correspondent met several legislators etc/ who
knew what the trouble was... An American bhuddist even went so
far as to say that among his orthodox friends ( meaning orthodox
economists ) several were worried at the prospect of
waking up one morning and finding that Frankie's gold hord
just wasn't worth a damn and that NOBODY would give
anything for it , meaning USEFUL goods such as wheat or berylium.

Gold and silver aren't very useful GOODS, they aren't
in the least NEEDED goods, for ANYONE. That's why
Horace Greely Schacht's little remark about Verbrauchsguter is
such a sizzler. And G.Ansaldo spilling the beans
almost every day in Il Telegrafo di Livorno. Telling the
world that you can't EAT gold, and that enamel is daily more
fashionable for filling teeth.

I wd/ say as a / general guess that the
show of opposing Roosenvelt in the senate was part facade.
In the end the bleeding of the American people in order to buy
useless metal from American silver owners at four times is
alleged value and foreign buzzars at twice its " value "
got by.

My Introductory Text Book is not yet used in the Schools.

Maybe we'll have to stary a few schools. WHY ( in parenthesis )
should England wait for her alledgedly loving ex-colonies to
start a real university.?

By a real university I mean one that would teach real
history, HUMAN and real economics ; that would chuck out a
vicious and maudlin criteron for literature and the fine
arts, that wd. examine the relative ethical weight of various
philosophies not excluding Confucius and Mencius, in whom is
the cure for the semitic or hate element that has
corrupted Christianity.

I mean to say the mediaeval idea that you enjoy
heaven more because the damned are paying their arrears
is ethically dastardly in comparison with Mencius precept
that pleasure increases as the number of participants in it
increase. This concept you find in Dante's Paradiso
but there is no harm in stressing it, there is no
uneducation in knowing which philosophers first attained to
a really high ethic.

The whole of University education in our time as
been sluggish. It is mainly an endowed system, the more recent
the University foundations the more exclusively are they run
on usurious pro profits. Professorships are endowed
( they tell me some state universities escape the influence of
endowment ). But in any case ALL NEW SUBJECT MATTER
is barred or delayed, because no provision has been made
for teaching it. The hired spouters have HUMAN invested their
time in this or that endowed subject, and dont want to be
bothered. Hence the death chamber atmosphere of the beaneries.

rather than in ten pages of prose, you have saved the readers
time and eyesight, EVEN if he has even if he has to read
the one page the three times.

Footnote: I think one of my colleagues has mistaken Ernst for Gros
I do not believe that Max Ernst is a jew. I know the
rumour has been put about but I can not, on evidence
I possess, believe it. I will of course yield to proof
if anyone can produce it.

Footnote 2/ I should like to see this Quarterly recognized
as THE forum and focus for live thought in England.
Most of the writers whom I particularly respect have already
appeared in these pages. It remains for Dr T.S.Eliot to use
them in reply to various points I have raised.

Dr W.C.Williams has committed himself on vital economic issues