27 JANUARY 1973, Page 28

Convenor, Ebury House, Romsley, Halesowen, Worcs.

Money supply

Sir: In 1922, while on a Mediterraean cruise in SS Adriatic, I heard an American who had just spent the afternoon in Haifa, say that he had seen some Arabs. Entirely out of my own head I invented the story that he had seen "some genuine Bedouwine A-rabs." Last year, fifty years later, I heard the story coming out of my own radio.

The "money supply" thought has travelled more quickly. Scarcely a city editor has not written or commissioned an article on the subject. and, last Monday, it was on Panorama.

I really think we deserve to give ourselves a pat on the back over this, me for mentioning it in two short letters, and you for the extraordinary width of readership among intelligent people attained hy The Spectator!

Antony Gibbs Spurfold House, Peaslake, Surrey