De Nederlandsche Bank N. V. Amsterdam President November 5, 1964 Mr Frederick Nymeyer 16546 South Park Avenue South Holland, Illinois Dear Sir: Thank you for your letter of October 27 with its enclosures. I have read your letter to Senator Douglas with great interest. I must say, however, that though I fully sympathize with your opinion that we live in a world with an inflationary bias, I do not share your confidence that a return to the gold standard would be feasible, nor that it would end our woes And a trebling of the gold price would, in my opinion, only result in disastrous additional inflation. Yours sincerely, /s/ Dr M. W. Holtrop