4 DECEMBER 1976, Page 16

'Boring' Keynes

Sir: Your editorial (27 November) complains that the Queen's Speech made no reference either to the fact that the rate of inflation is steadily rising—it now stands at more than 19 per cent—or to the recent expansion of the money supply.' When you eventually come to realise that the expansion of the money supply is the rate of inflation, your otherwise excellent journal will have no need to fill so many pages with long, boring articles on Keynes.

David Farrer 69 Harrington Gardens, London SW7