> ==============
>
> "I am also convinced that the soundest monetary policy can be rendered
> void by a fiscal policy which leads by excessive expenditure to the
> printing press" [James Warburg]
>
> http://fraser.stlouisfed.org/docs/meltzer/fisdis34.pdf
>
> Fisher's reply follows; the context is Benjamin Strong's policy
> responses to the crash
>
============
Ooooops, the last sentence should have read "what might have been Strong's..........
Ian