At a Christ Church [College,
Oxford] Governing Body Meet-
ing, when the investment of
college capital was being
discussed, someone advocated
the general principle of in-
vestment in land, since for
300 years this had always
proved profitable.
'But you must remember',
interposed Hutchinson, the
Treasurer, 'that the last
300 years have been a very
exceptional period.'
Hugh Trevor-Roper
December, 1942
The Wartime Journals
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