PROFESSOR IRVING FISHER

460 PROSPECT STREET

NEW HAVEN, CONNECTICUT

November 28, 1931

Dr. G. von Schulze- Gaevernitz Battle Creek Sanitarium, Battle Creek, Michigan

My dear Dr. Gaevernitz:

Thank you very much for yours of November 20. I appreciated

extremely your kind word in your several letters and in your speech

before the Statistical Association in New York, as well as your

article in the New York Times which I recently read and the manuscript

which you sent me.

More important, I am delighted to know that I

have such an enthusiastic and willing colleague in trying to bring this

matter before those who have the power to apply the principles.

There are two small points in which I would offer some criticism.

The last sentence of the last line of the first page I think might be

improved by putting in the word"A" at the beginning. The last three

lines of page 2 and the first two lines of page 3 I would omit, as I

do not think it practicable to distinguish between the money flowing

through consumption and that flowing in other ways.

As long as we can

stabilize the price level so that there will be no unemployment, the

matter of consumption is more or less self regulated by incomes, and

the equilibrium between spending and saving.

I was very much interested in your enclosed statement about your

background. I take pleasure in enclosing a letter of introduction to

Mr. Owen D. Young. He is, of course, a very hard man to see although

can

he is very ready to see distinguished people like yourself if he

get the time.

Very sincerely yours,

Irving Fisher