15 JANUARY 1972, Page 18

The monetary order

From Surgeon Captain T. L. Cleave Sir: Could Mr Nicholas Davenport be asked to reconcile his article (December 25) — especially the middle of the first paragraph and, for that matter, the last paragraph — with his article on the end of the equity cult (May 23, 1970) and with my letter on these pages (June 6, 1970)?

Anyone who followed his teaching eighteen months ago (as above) would be very, very much poorer today. I feel he should reopen the matter to everyone's advantage as regards the lessons to be learnt.

I may add that Mr Davenport gave equities further biffs on June 13, but I am glad to say that I at least have survived to tell the tale. T. L. Cleave Redmarley, Sandringham Road, Cati3field, Fareham, Hants.