LAWRENCE FERTIG 380 MADISON AVENUE NEW YORK, N.Y. 10017 August 5, 1971 Dear Lu, As Margit has probably told you, I've talked to her many times on the telephone during your illness, but did not want to disturb you by calling you to the 'phone. So I've missed talking to you. However, before you receive this letter (this is Thursday morning) I will call you and hope that you can come to the 'phone - probably tonight. Tuesday night I gave a lecture on inflation at FEE. Harry spoke there last night. The class this time is a sizeable one and fairly intelligent, although not quite as good as the last group in July. The questions were not particularly sharp, although the interest exhibited in the lecture itself was quite enthusiastic. There is so much going on these days that it's difficult to catch up with events, or to comment on them in anything but a general way. As you have read, I'm sure, Bill Buckley, the Conser- vative Union in Washington and a number of other so-called Conservatives, have issued a statement putting Nixon on notice that they have "suspended" their support of his policies due to his about-face on China, and his refusal to alert the country about a lack of adequate defense. This group didn't even mention his advocacy of increased subsidies for relief, etc. Economic policies do not seem to concern them as much as international affairs. On Sunday I'm flying out to Rockford College with Leonard Read. We will attend the regional Mont Pelerin meeting for several days. Just yesterday I received a batch of papers to be delivered there, and they are most discouraging. Discussions of social security, economic reforms in the Soviet Union, education in the U.S., bureaucracy, etc. etc., but not one single paper about inflation, labor union monopolies, monetary policy - the very heart of our present difficulties, as you have always pointed out. After receiving these papers I seriously thought of cancelling my reservation, but decided to go anyway. I do hope the weather will turn more favorable for you. It has really been miserable down here, and I judge up there, too. A change in the weather is just about due and I'm sure by the time this reaches you, you will be in bright sunshine again. Berthy and I send you and Margit our love and best wishes for a speedy recovery.