My dear Smyly,
Shall be delighted to see
you on the third Aug. and hope you
will be able to stay a long time.
There is lots to be done. We have come
to the conclusion that crocs 1 and 19
cant be as late as Augustus. The only
of Ptol. Alexander's reign. So the rest are
probably of that reign or of Neos Dionysius
The λαογραφία will be rather a jar to

many people.
As to the coinage I am still very
doubtful. It is certain that in the
crocodile papyri the ratio is ^from 500 to 7
to 400 to 1. , and this suits not only the
Pap. O of Leyden¹ but Louvre Pap. 59
which people have hitherto explained
away unjustifiably. Yet the prices
in our papyri are four time as high
as those found in other second cent. B.C.
papyri and Spiegelberg swears that the
demotic fomula 24 units of copper =
2/10 silver is all right. Moreover the ratio
of 400 to 1 doesnt suit the coins at
all, if the copper drachma weighed anything

like a drachma. And of course if it
doesnt we can never hope to solve the
ratio between silver & copper at all.
There must be a way out however, and
I mistrust the demotic people very much.
Probably they will find dozens of
instances of the ratio 500 : 1, when
we have given them a lead. I
contemplate writing an appendix
on the subject.²
We will publish 1.1,³ the long account
dated in the 17th year