6 FEBRUARY 1971, Page 27

Full marks

I congratulate the Government for its refusal to cough up £2 million or so of our money to buy the Velasquez picture of his mulatto friend and its consequent refusal thereby to give official endorsement to a grossly inflated price level for old masters— a level which can only benefit such dealers as the successful bidder, Wildenstein, and the under-bidder, Agnew.