12 OCTOBER 1974, Page 5

I nflation Sir: In the Weimar inflation of 1923 the mark

reached extinction through Worthlessness. Just another piece of Paper. The then German politicians, however, had enough decency to give back to their government bondholders 20, Per cent of their original holdings in tne new currency.

Ning to the 'crook quid' policy

13,11!sued by our social-democratic politicians of all parties since the war, the £

now worth only a shilling or two of its

mrrner value, and the older portion of the National Debt has been in consequence almost wiped out — Perhaps intentionally! By comparison with the ahem-size of this financial operation, its depth of potential and the numbers of People affected, the calculated roguery 91 the Great Train Robbers pales into insignificance.

Truly Maynard Keynes's "Euthanasia of the Rentier" is now well advanced, and inflation is devouring our savings — not just nibbling at them. The time. therefore, approaches when one begins to wonder if our own politicians will be

percent honest too — or 100 per cent crooked, which would, no doubt, be yerY Modern, permissive and with-it. The joke here is that the people who clo this sort of thing call themselves (believe it, or not) 'honourable.' That's enough to make a cat laugh.

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A. trines