December 21, 1962 Professor Ludwig von Mises School of Business Administration New York University New York, New York Dear Professor Mises; You were very generous to send my wife and me the copy of Theory of Money and Credit, Spanish edition. Please do not assume that the long delay in acknowledgement is due to a lack of appre- ciation. On the contrary, we were both very honored to receive it and had hoped that before now some insight into the Spanish translation could have been acquired. But, I must confess that my command of Spanish as well as Mrs. Lowi's technical know- ledge of economics is inadequate to provide you with anything more than a superficial impression. As you have pointed out, indirect exchange phenomena are perhaps the most difficult things to explain in economics and I regret exceedingly that I am unable to be of any service to you with regard to your question on the authenticity and fluency of this translation. I hope you are having a satisfactory year at N.Y.U. and are making good progress with the American School of Economics. The advance orders for the new edition of Human Action through the CCI Bookshelf is very encouraging to me and I can assure you there is a burgeoning of interest in economics especially from the point of view of understanding liberty. My wife and I hope you have enjoyed a happy holiday season and most sincerely wish for your continuing good health during the coming year. Sincerely yours, Alvin Lowi Jr. 4018 Merril Street Torrance, California