Volume Two covers the early years of his editorship of The Criterion (the periodical that Eliot launched with Lady Rothermere's backing in 1922), publication of The Hollow Men and the course of Eliot's thinking about poetry and poetics after The Waste Land. The correspondence charts Eliot's intellectual journey towards conversion to the Anglican faith in 1927, as well as his transformation from banker to publisher, ending with his appointment as a director of the new publishing house of Faber & Gwyer, in late 1925, and the appearance of Poems 1909-1925, Eliot's first publication with the house with which he would be associated for the rest of his life.

It was partly because of Eliot's profoundly influential work as cultural commentator and editor that the correspondence is so prolific and so various, and Volume Two of the Letters fully demonstrates the emerging continuities between poet, essayist, editor and letter-writer.