Capital ownership
Sir: Your correspondent, Nicholas Davellport, is becoming increasingly prone to iristiming his pontifications. In your issue dated 25 February a very thoughtful article oa Conservative policy proposals to encourage the growth and spread of capital holdings was immediately followed by the weeklY City comment. This contained the following opinion on a statement made by Senator Mike Gravel regarding the need Or expanded capital ownership in the States: 'This is precisely what most Conservatives feel about the expanded Welfare State in Britain but they do not know how to modifY the system.' Nicholas Davenport might well disagree with Conservative thinking, preferring ti.) leave the gramophone needle stuck in 11.15 well-worn theme of a State Unit Trust; that° his undeniable right. To suggest, however' that no proposals exist is inexcusable. Charles W. Bell
The White Cottage, 19 Lennox Drive East, Helensburgh, Dunbartonshire
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