Bethe and Peierls were fellow students in Munich in 1926-1928 and became friends. They were together in Manchester in 1933-1934, and in Los Alamos in 1944-1945. The correspondence is about physics, mutual visits and invitations to colleagues, and about personal affairs. Early letters are in German, and all are full of obscure references to private jokes, to quotations from anecdotes, etc. The sequence of letters is not complete.