Keynes's Note of Interview with Chancellor" (February 15, 1920, T 172/1384, in Howson 1973, 459). 73 Falling prices increased the value of fi nancial assets that were fi xed in nominal terms, notably the warswollen national debt, and thus increased the wealth of holders of these assets— mainly the betteroff members of the community and fi nancial institutions.

Clara E. Mattei, The Capital Order, loc. 1697