Two items: a TLS, one page, 8.5 x 11, Hoover Institution letterhead, June 27, 1985, addressed to Rev. Father William Ward, in full: "I appreciate very much your letter of June 14, 1985. I am enclosing an autographed photograph. My current project is a continuation of the work I have been doing all along, namely, as a scientific economist, investigating various aspects of the role of money in the economy, most recently having to do with the effect of the fundamental change in the monetary constitution of the world toward an irredeemable paper currency for the possible future of inflation; also, as a citizen interested in public issues, speaking our and writing about such public issues as the balanced-budget amendment. Your experience not untypical. As we put it in our book Free to Choose, nobody spends somebody else's money as carefully as he spends his own"; and the aforementioned enclosed photo, a glossy 8 x 10, which Friedman has inscribed to "Rev. Wm. Ward." In overall fine condition.