- 7 Mar. 1937 (Creation)
Level of description
Extent and medium
Name of creator
Immediate source of acquisition or transfer
Content and structure area
Scope and content
46 Gordon Square, Bloomsbury.—Agrees with his views (on the re-armament loan). Does not think it necessary to impose punitive measures to stop alternative projects. Sends a copy of his article for The Times (2/215).
46 Gordon Square, Bloomsbury
March 7, 1937
The Rt. Hon. F. W. Pethick-Lawrence, M.P.
House of Commons,
The line of thought you indicate in your letter of March 5th is in my judgment entirely the right one. Fundamentally this is not a matter of finance, but of calling out, as you say, new sources of production. The answer must depend upon the elasticity of supply.
Personally I believe that the programme can be carried through without any punitive measures to stop alternative projects; though doubtless there will be cases where shortage of plant will for the manufacturer to choose between one thing or another.
I have, as I said I might, written a further article for the Times and enclose a copy of it herewith.
J M Keynes