Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-t5tsf Total loading time: 0 Render date: 2024-11-10T02:25:15.650Z Has data issue: false hasContentIssue false

2 - HOW TO PAY FOR THE WAR

from Part I - Shaping Opinion

Published online by Cambridge University Press:  05 November 2012

Get access

Summary

Although in his letter to Professor Hicks of 7 October Keynes had not yet made up his mind completely as to the best way of obtaining real resources for war, he was moving quickly toward a solution. On 20 October he gave a lecture to the Marshall Society, the undergraduate economics society at Cambridge, entitled ‘War Potential and War Finance’. In the days following, he worked it up for publication in The Times under the title ‘The Limitation of Purchasing Power: High Prices, Taxation and Compulsory Savings’. Keynes sent copies of the draft to Sir John Simon, Mr Attlee, Lord Stamp, R. H. Brand, and H. D. Henderson (who was a member of the Stamp Survey of Economic and Financial Plans) for comment on 24 October, as well as offering it to The Times, whose editor agreed to print it after Keynes had completed his initial discussions. He also spoke on the subject to a dinner of officials, Ministers and M.P.s on 27 October.

Initial reactions proved encouraging. As Keynes told Geoffrey Dawson on 4 November:

The result of my correspondence with eminent persons has been reasonably encouraging. Stamp is enthusiastic and says that it fits in extremely well with the recommendations he will be making himself. The Chancellor of the Exchequer is, of course, as guarded as usual. But I have had a long talk with Hopkins about it, who is sending the scheme to Inland Revenue to be considered from their point of view. […]

Type
Chapter
Information
Publisher: Royal Economic Society
Print publication year: 1978

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×