April 3rd, 1938, 
Dr. Josef Steindl informs me that he proposes to 
apply for the scholarship offered by the British Council for 
Austrian Students and asks me for a testimonial. ‘ 
I have known Dr. Steindl since 1935, when he joined the 
staff of the Austrian Institute for economic research with which, 
as its former director, I have been in contact ever since. I have 
had ample opportunity to wakoh Dr. Steindl's work and have followed 
with great interest his various publications on problems of the 
monetary theory of the trade cycle. Dr Steindl appears to be very 
well acquainted with the ve important recent literature on the 
subject, and in his own contributions has shown an acute and original 
mind. I should expect that if he should be given an opportunity to 
devote himself further to the study of economics he make more contri- 
butions of conzideraile value to his subject. | 
I know that Dr. Steindl's work has been greatly valued 
by the present director of the Bagtrien Tustidubh and that his former 
teachers think verv highly of him. 
Po AJV.Hayek 
(sicned) 
.Tooke Professor of Economic 
Science and Statistics in the 
Jniversityv of London) 
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