TREASURY PAPERS
Series One: Papers of the Economic Section, 1941-1961 (Public Record Office Class T 230)

Part 2: T 230/37-73

These papers focus on Bretton Woods, International Monetary Policy, the Economic Surveys of 1946, 1947 and 1948, The Long Term Economic Survey 1948-1951, Employment policy with minutes and memoranda of the Committee on Post-war Employment.

There are also a number of good Preview Papers including:

"Treasury Papers (T 230) contain essential and basic material which all scholars will want to use for the analysis of post-war economic policy."
Dr Neil Rollings, Department of Economic and Social History
University of Glasgow

The Papers of the Economic Section (Public Record Office Class T 230) provides scholars with an opportunity to see the first instance of Keynesian economic principles being applied to a real economy.

This is a wonderful source for undergraduate and graduate research, which can readily be used in conjunction with printed sources such as: A K Cairncross and N Watts, The Economic Section 1939-1961 (Routledge, 1989), A K Cairncross (ed), The Robert Hall Diaries 1947-1953 (Unwin Hyman, 1989) and S Howson (ed), The Collected Papers of James Meade, vols I to IV (Unwin Hyman, 1988-forthcoming).

Starting in 1941, the British Government employed professional economists to advise on economic policy in a group known as the Economic Section. The first four directors, John Jewkes (Jan-Sept 1941), Lionel Robbins (Sept 1941-Autumn 1945), James Meade (Autumn 1945-April 1947) and Robert Hall (Sept 1947-1961), were ably supported by a range of economists including Marcus Fleming, Bryan Hopkin, Russell Bretherton, A Pigou, Christopher Dow, Fred Atkinson and Jack Downie.

John Maynard Keynes was an important direct and indirect influence on the Economic Section. He commented regularly on Discussion Papers and proposals, helping to clarify the correct application of his ideas to the real economic issues.

"The Economic Section was the first group of professional economists to operate full-time as government advisers in Britain. From 1940 onwards they occupied a key role in the making of economic policy and their views carried great weight with successive governments. The papers of the Section are indispensable to an understanding of the thinking behind government policy, especially budgetary policy, and of the evolution of modern economic management."
Sir Alec Cairncross
Former Chancellor, University of Glasgow
and Supernumerary Fellow, St Anthonys College, Oxford
Co-Author The Economic Section, 1939-1961 (London, 1989)

The following extract is taken from the Economic Survey, 1948 [T 230/59]. It gives a brief summary of the aims and rationale behind the central planning policies pursued by the Economic Section:

Draft paper
The Framework of Economic Planning:

"1. My colleagues will, I think, wish to be informed of the progress so far made in the preparation of our economic plans and of the general methods which are being followed.
2. The aim of economic planning is consumption; the provision to the consumer both of goods and services he purchases directly himself and of those essential social services which he enjoys as a member of the community. Planning aims at maximising that consumption over time; to ensure that available resources are used in the best possible way and that the resources themselves are developed as rapidly as possible. It is not part of planning to give the consumer goods he does not want at the expense of things he would like to have. It may, however, be necessary in order to secure supplies of vital necessities to restrict for the time being the consumption of less essentials. We cannot live without food. We cannot pay for that food without exports. We cannot make these exports without raw materials. Planning attempts to secure that first claims are met at the least cost in other desirable but less essential claims..."