November 26th 1941, 1 page quarto + 1 page folio. "I attach a brief summary of the main points I was trying to stress in our conversation today. "Keynes did not seem to dissent but they would of course entail certain changes in his draft planned for the Bank.."
The attached folio typed memorandum is entitled "Note on Points in Discussion on November 26th".
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December 18th 1941, 4 pages folio from Offices of the War Cabinet, 2 copies. "...Keynes has, as you know greatly simplified his scheme for a bank and has gone very far to meet my criticisms.
"There is a rather fundamental point outstanding about the precise status of the 'bancor' on which I attach a separate note. It is the sort of point which, I should think, should be settled officially rather than left to Keynes.
"...I told Keynes that I did not believe the British Government would in the last resort agree to putting forward a scheme for an interest charge on deposits, however attractive it might be to the theoretical economist, and rather urged him to remove it before the draft went round to Ministers.
"I also pointed out that his draft still had in some parts of it the form of a personal statement of opinion and did not yet seem quite to have reached the form of a draft Treasury document..."
After arguing that the Keynes scheme should be presented with the full backing of the Treasury, Harrod argues for the preparation of a scheme for "an Investment Board, a Buffer Stock Control and a Nutritional Standards Board together with a draft plan for the expansion of world trade by commercial agreements."
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December 30th 1941, 1 page octavo + 2 pages folio, in ink on blue paper. Manuscript of two letters of the same date, in the second letter on folio paper, Harrod writes discussing Keynes's bank scheme "Hopkins ...said that they would put the Bank forward as a Treasury scheme and not a Keynes scheme...
"I saw Keynes alone afterwards. I told him that I could not help thinking Hopkins more friendly than corresponded to his real mind, or anyhow that there was a snag somewhere.
"He made an important point. Apparently it is the Bank of England which has submitted a full dress scheme for continuing and intensifying bi-lateralism. He said that an important figure there is Cobbold, whom he regards as a peculiarly vicious character..."
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