A good Governor
Sir: In your edition dated 4 February, Nicholas Davenport had some critical remarks to make about Mr Gordon Richardson, the Governor of the Bank of England. I know and like Nicholas Davenport as a person but in my opinion the article he has written gives the impression that his academic chastity has never been broken by any spell of practical experience.
There are some who have fixed ideas and even events do not encourage them to change their views. It would appear that Nicholas Davenport is one of those old unrepentant Keynesians but, knowing of his friendship with Lord Kaldor, this is not surprising. Everyone is, of course, entitled to his opinion but in singling out the Governor as he does in this article, Nicholas Davenport may give your readers a totally misleading impression. Mr. Gordon Richardson has excelled himself in his past performance at the Bank and this is a view held by many practical people in the City and abroad. Furthermore, he has been ably supported in his work by the Deputy Governor, Sir Jasper Hollom.
Might it not be a good idea to obtain a second opinion on the subject? I suggest you ask the Institute of Economic Affairs to provide it.
Walter H. Salomon Reform Club, Pall Mall, London SW1.
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