1 Asahi Ekimae-cho Kochi City, Japan March 8, 1962 Dear Prof. von Mises : Those who have spiritually or materially invested in Toshio Murata, an agent of liberty in Japan, are entitled to draw a divi- dend on your investment. Here is the dividend -- a report on my activities to the cause of liberty since I came back from the United States of America on October 12, 1960. While staying in your country, I took quite a number of slides in natural colors with a definite purpose of showing them to the Japanese to promote their understanding of the American way of life. Under normal conditions, as you know, color slides can keep their original colors only for several years. People are anxious to listen to my talks so long as my coming back home from America is a news to them. For these reasons, I have tried to take every opportunity to show the color slides and to give a talk on economics or the A- merican way of life, regardless of the size of my audience. From April, 1962 I am going to teach at the Economic Faculty of the Kanto Gakuin University, Yokohama. The classes in my charge are seminar in economics using Mises' PLANNING FOR FREEDOM, business analysis (financial statements analysis in your country) and market analysis. When I have settled down in Yokohama, I shall devote myself to academic work and writing. Closing my work in Kochi, I thank you for all favors received. Best wishes to you, now and always. Yours very truly, Toshia Murata Enclosure Toshio Murata