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GALANTIERE, Louis See under WRITERS (PROPOSED) correspondence folder GALLOWAY, John A, See letter 1/6/55 filed under DAVIS, Chester GAHNSEI, Morris E. UNIVERSITY OF COLORADO BOULDER, COLORADO July 20, 19$h Kiss Mildred Adams, Hesearch Director, Committee on the History of the Federal Reserve System, 33 Liberty Street, New York !£, N. Y # Brown Palace Hotel Denver, Colorado Hold for Arr« Dear Hiss Adams: The first term of summer school ends today, and I am leaving Boulder tomorrow. I regret very much I will be absent while you are here* Should you be interested in conferring with members of the Department of Economics generally, those staff members on duty will be very glad to see you # Please call Professor Earl Crockett, who is acting as chairman. His telephone is HI 2-3210, Extension 7hZ or 6$3* He has your letter and will be expecting a call from you. Sincerely, i <2 Garnsey, Morris K # Professor of Economics MEGtle July 19, 1954 Dear Professor Garnsey: Since writing you on July 15th* ve hare had "word froa the Brovn Palace Hotel in Denver that, because of heavy bookings, they are unable to reserve a room for Miss Adams there for July 22-24. Instead, ve have a f i n reservation for her at the Olin Hotel, 1420 Logan Street (telephones MAIM 4211), for two nights starting July 22nd. I hope this note reaches you in time so that you may leave e message for her there. Sincerely yours, Secretary and Assistant Professor Morris E. Garnsey Chairman Department of Economics University of Colorado Boulder, Colorado km July 15, 1954 Dear Professor Garnsey: I have been asked by Miss Mildred Adams, Research Director for the above Conmittee, to send you this note. She is planning a brief visit to Colorado and would like, if you are available, to discuss with you her program of research on the history of the Federal Reserve System which she has recently undertaken under a grant from the Rockefeller Foundation. She expects to reach Denver on Friday morning; July 23rd, and will be staying at the Brown palace Hotel there until Sunday afternoon If you are within striking distance of Denver or Estes Park at that time, she would be most grateful if you would leave a message for her at her Denver hotel so that she may telephone you on arrival. Sincerely yours, Research Assistant Professor Morris E. Garnsey Chairman Department of Economics University of Colorado Boulder, Colorado GERSCHENKRON, Prof. Alexander February 16 See under HABAKKUK, H. J. , 1956 in correspondence folder WRITERS GIDWEY, Ray CEIVED THE COMPTROLLER 'APR 1 2 1955 • £ ON THE W5TOKV OF THE PEKHAt *£8EftVE SYSTEM Dear Mr, Woodward: OF THE CURRENCY WASHINGTON A p r i l 7, 1 9 5 5 I am interested to have your letter of April 4f 1955. I am one of the relatively few people who joined the Federal Reserve System in its early stages. I came to the offices of the Federal Reserve Board on August 17, 1914, one week after the Board was organized, John Delamater, who was secretary to Frederick A# Delano is still alive, and his duties began, I assume, on the date of the Board organization. Miss Mildred Adams wrote me, I think that she was going to call on me sometime about Federal Reserve experiences but to date she has not done so. I do not have any papers of the kind described in your letter, as I have retained only a few letters which were very personal written by Adolph C. Miller, Member of the original Board of Governors, Benjamin Strong, Pierre Jay, and J. Herbert Case, They would not be of any particular interest as historical material. Any help that I could give, therefore, would be through reference to material and documents otherwise available and to my memory of what took place. Let me know if I can be of help. Sine* 4 Ray M# Gidr Mr. Donald B# Woodward Secretary, Committee on the History of the Federal Reserve System 33 Liberty Street http://fraser.stlouisfed.org/ York 45, N. Y. Federal Reserve BankNew of St. Louis GIDNEY, Ray M, April 15, 1955 Dear Mr. Sidney: Mr. Woodward has sent me your recent letter, and I am hoping that you are going to be able to talk with me at some length. Previous efforts to umke an appointment have come at times vhen you were out of town. I am now planning to be in Washington Wednesday, April 20th, and Thursday, April 21st. I am hoping that your secretary can set aside a time on on© of those days* I will phone her fro® Hev Xork on Tuesday to verify this» Hopefully yours, Mildred Adams Mr. Ray M. Uidney Coaptroller of the Currency Department of the Treasury 15th Street and Pennsylvania Ave., N.V. Washington 25, B.C. GIDNEY, Ray M. February 9, 1954 Be&r Mr. Gldneyi Hr« V. Randolph Burgess has suggested that I ask for an interview with you l a connection viih the preliminary stage of a project dealing s&th the history of the Federal Reserve X 828 planning to be l a Peeking to a the week of February 16th• With yoiar penaissiou # I will call to see -whether i t would be eourenlefit for yo& to »ee me sossetiae the course of that week. Sincerely Mildred Ad&mc Research Director Committee on the History of the Federal Reserve System Mr. Bay M. Gidney Comptroller of the Currency Department of the treasury 15th Street aad teniMQrlvania Ave»t »•¥• Washington 25, D. C. Kilktt GILBERT, E . R. R E P U B L I C IVATIOIXAX* OFDALLAS CAPITAL AND SURPLUS 860,000,000 ,TEXAS R. R. GILBERT September 6, 1955 VICE CHAIRMAN OF THE BOARD Miss Mildred Adams Executive Director Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, New York Dear Miss Adams: Thank you very much for your letter of September 1, which contained the information Mr. Gilbert had requested. At the present time Mr. Gilbert is out of the city, however, your letter will be brought to his immediate attention upon his return the latter part of September. Sincerely yours, iynn Kotick Secretary to: R. R. Gilbert GILBERT, R. R, September 1, 1955 Dear Mr. Gilbert: The Secretary of this Committee, Mr, Donald Woodward, has asked me to reply to your letter of May 9th written in response to one of his in which he asked for your cooperation in the preparation of a historical record of the Federal Keserve System* It vs.8 one of ny regrets when I was in Dallas in April that I was unable to talk with you* They told me at that time that you were on a foreign holiday, and I hope that it was a very pleasant one* Xou ask if ve would spell out In a little sore detail type of material, papers, documents, recollections and so forth, which we would like to have, and you are kind enough to offer to look through your papers to see what is there* This question, "What do we want?" is always subject to being turned back in the form, "What do you have?" What we look for most earnestly among private papers are letters concerning policy, letters which spell out in some detail what of interest has been happening, or which set a course for the future* Ve are also interested in correspondence that concerned individuals within the System and that brings back to life people whose names occur In official records, but concerning whom ve seem to know very little* Ve have access, of course, to the official records of the Board and the Banks, so that chronological accounts of what happened when are relatively simple* The thing we need is the vast amount of filling in which private papers can do, and conversations can sometimes do even better* As for recollections| that again is a matter of •What have you?" I was particularly interested in Dallas to hear stories of the bank crises which took place during the agricultural depression of the 1920*s, and which seemed to have hit Texas very hard* The other great crisis case during the banking holiday, but in comparison, I got the impression that Texas suffered more in the '20'* than it did in the *30fs, though that may be simply in comparison with attitudes in the rest of the country* Heir Xou see our imt in which we try to catch memoirs and documents is a large one, and therefore anything which you can send us will be most welcome* Chiefly we need, as I say, to have the dryness of the ordinary official document illumined by the memories of people who were is the place at the time that the decisions were made, and for whom it still lives* Ve want that recreated feeling of life. I hope that this will be the kind of explanation you were seeking and that it may evoke from you some of the things for which we ask* May I send you thanks in advance for your kindness in making available to us any recollections which you can* Very eincerely yours, Mildred Adams Mr* R* R, Gilbert Eepublic Rational Bank Dallas 22, Texas UILBERT, R . R E P U B L I C IVATICKXAJL* BAXK OFDALLAS CAPITAL AND SURPLUS $60,000,000 ,TEXAS R. R. G I L B E R T VICE CHAIRMAN OF THE BOARD May 9, 1955 Mr. Donald B. Woodward, Secretary Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, New York Dear Mr. Woodward: Upon my return to the bank a few days ago, I found your letter of April 4, 1955, requesting my cooperation in the preparation of a historical record of the Federal Reserve System. Since I became connected with the Federal Reserve Bank of Dallas, a short time before the Reserve banks were formally opened for business, I am quite naturally interested in the System, and shall be very happy to furnish your Committee with such material, information, et cetera, as I think it might be interested in considering in writing a history of the System. As you may know, I retired as President of the Federal Reserve Bank on August 31, 1953, to become Chairman of the Board of the National City Bank of Dallas the latter being consolidated with the Republic National Bank of this city last December, and I am now connected with the bonsolidated bank in the capacity of Vice Chairman of the Board. In that connection, I observe that your letter is addressed to me c/o National City Bank. I shall appreciate it, therefore, if you will have your mailing list changed to show my present address, which is: R. R. Gilbert Republic National Bank Dallas, Texas REPUBLIC NATIONAL BANK OF DALLAS M r . Donald B . Woodward New York 45, New York -2- May 9, 1955 When I t e r m i n a t e d my connection with the F e d e r a l R e s e r v e Bank h e r e , all of m y official p a p e r s , d o c u m e n t s , and so forth, w e r e left in the files of that institution, and any of them which the p r e s e n t officers of the bank think might be useful to your Committee will, I am s u r e , be made available for your r e v i e w . I will make a s e a r c h of p e r s o n a l l e t t e r s , documents, et c e t e r a , relating to the work of the R e s e r v e Bank h e r e , within the next few weeks and if I find anything that I think would be of i n t e r e s t to your C o m m i t t e e , I shall be m o r e than glad to make it available, along with my recollection of p r o c e e d i n g s , d i s c u s s i o n s , and so forth, at various meetings I attended during the 14 y e a r s I s e r v e d as P r e s i d e n t of the bank, and during the various p e r i o d s I s e r v e d as a m e m b e r of the F e d e r a l Open Market Committee. I have long r e a l i z e d the need for a complete h i s t o r y of the F e d e r a l R e s e r v e S y s t e m , and s e v e r a l y e a r s ago r e c o m m e n d e d to the B o a r d of D i r e c t o r s of the Dallas bank the ^employment of someone capable of writing a h i s t o r y of that bank. We w e r e unable, however, to find a suitable p e r s o n to handle that a s s i g n m e n t , and as a r e s u l t , let the m a t t e r d r o p . I think it i s much b e t t e r , however, to p r e p a r e a h i s t o r i c a l r e c o r d of the e n t i r e System than of the individual b a n k s , although a h i s t o r i c a l r e c o r d of each of the D i s t r i c t banks would be quite i n t e r e s t i n g to a l a r g e n u m b e r of people, and quite valuable as a r e f e r e n c e book. I have l e a r n e d from M r . W. H. I r o n s , who succeeded me as P r e s i d e n t of the Dallas bank, that Miss Mildred A d a m s , your Executive D i r e c t o r , was in Dallas a few weeks ago to d i s c u s s with the local officials a selection of m a t e r i a l , et c e t e r a . I a m v e r y s o r r y I was not h e r e when she was and would be glad to see h e r if she could r e t u r n to Dallas again in connection with this p r o j e c t . It would be of c o n s i d e r a b l e a s s i s t a n c e to me in reviewing m y p e r s o n a l p a p e r s , et c e t e r a , if you could !I spell out" in a little m o r e detail the type of m a t e r i a l , p a p e r s , documents, r e c o l l e c t i o n s , and so forth, you would like to have submitted to the C o m m i t t e e , and if you could make some suggestions in that r e g a r d , I would welcome them v e r y m u c h . I wish to a s s u r e you that it will be a r e a l p l e a s u r e to work with your C o m m i t t e e in any way I can during the p e r i o d it is engaged in this p r o j e c t , and I hope you will feel free to call upon m e at any t i m e . With v e r y b e s t r e g a r d s and all good w i s h e s , I a m Sincerely y o u r s , R. R. Gilbert Vice C h a i r m a n of the Board GILBERT, R. R . REPUBLIC OFDALLAS CAPITAL AND SURPLUS 860,000,000 S 22,TEXAS R. R. GILBERT VICE CHAIRMAN OF THE BOARD April 8, 1955 Mr. Donald B. Woodward, Secretary Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, New York Dear Mr. Woodward: Your letter requesting the papers concerned with Mr. R. R. Gilbert's Federal Reserve experience has been received. At the present time Mr. Gilbert expected to return until the first will be brought to his immediate will be very happy to supply you is out of the city and is not week in May. Your letter attention and I am sure he with information you desire. Sincerely yours, Lynn Kotick Secretary to R, R. Gilbert This document is protected by copyright and has been removed. Author(s): E. E. Agger Article Title: Seymour Parker Gilbert Journal Title: Dictionary of American Biography Volume Number: Date: Page Numbers: Issue Number: GILBERT, S* Parker 2 '// w J z d M a r c h U, 19$h Dear Miss Adams: Mrs. Stanley has asked me to write you in reply to your recent letter about the Committee on the History of the Federal Reserve System in which you asked whether any of Parker Gilbert's letters or papers were available which would be useful to your Committee* I am sorry that Mrs. Stanley hasn't any papers that would be useful to you. Most of his memoranda and other papers were destroyed after his death. We checked up on this when the law firm of Cravath, Hendersan and de Gersdorff, of which he was at one time a partner, was writing a history of tiiat fixm so we are quite sure of this fact. Mrs. Stanley i s very sorry that she cannot be of help to you. Sincerely yours, Miss Mildred Adams, Committee on the History of The Federal Reserve System, 33 Liberty Street, New York U£, N. Y. I GILBERT, S. Parker March 15, 1954 Bear Mrs* Stanley: This CoMEitt©© has bean a t work for about a aoath locating and listing the papers of sen -who w r » active i s th« oarlier days of the Federal 1&e&®Twe Syrteis. &aong those men, Mt* &• barker Gilbert, with his distingyiahed servie© i s n»r loan dmy© and his i a t s r experience in reparatdoas matters, raake very high. ¥e &r® woodering whether, i a the course of so a l i f e , Mr. Gilbert kept diaries vhich s t i l l exist, or collectioa of Btemoreafie aud other papers vh£sh dMtl with tha bariEli^ and fiscal affairs with viiich hs dealt. If he did, ©cmld j&u t o l l us whera they have bean deposited, and ai$r iod^e of "Ui^i exists which w© sight CoBBSittt« asks me to thank: you for ary tloa you can give us in locating •what mrald b© a «o«t importsnt eolleetion. I ahouidj perheps, add that no ifrltiiag or publics* tioa i s coataiBpiated a t this tlmej \r© are mainly e&rryisg on an inventory and praliminary survey itudy. sincerely yours, Mildred Adsms Mrs* Harold Stanley 4 Bast 72nd Street lew lork 21, Hew lork iittai GLASS, Carter February 11, 1954. Miss Meta Glass, Ipsissima Farming-ton, Charlottesville, Virginia. Dear Miss Meta: I*a thinking of coming dovn to Charlottesville on Friday, February 19th to visit the Library and look at your brother's papers• Helen, who vill not be going home until Friday afternoon, tells me there is a late afternoon train that gets ae to Charlottesville about 8 p.m. That voulti give me the whole of Friday to wander through the collection. You vere kind enough to offer me the hospitality of your guest room, and if I could impose on you for Thursday night it vould be wonderul. I'll phone you fro® Washington on Tuesday or Wednesday to make sure that this is convenient. Gratefully yours, Mildred Adamsf ilesearch Director, KA;ek GLASS, Carter — Papers University of Virginia January 22, 1954 Bear Miss Meta* thanks so much for your quick and cordial reply on th© matter of your brother10 papers. I am delighted to know where they are and that they are available. You may be sure that X will be coming down to look at them in the very near future* I treasure your invitation to come to Ipsissima, and certainly I shall be looking forward to seeing you. Gratefully yours, Hiss Meta Glass Ipaiesima Farraington Charlottesvill© Virginia ftltte* MISS META GLASS 1PSISSIMA, FARM1NGTON CHARLOTTESVILLE, VIRGINIA W*-* Ccf 7L J I] r if a. fLJi^^ncM^ ^u - -^- li f «-• i fw - J f V hrv ^/T_J» . sr* h, C /u. / Q^ar+u^jL^* lt> January 19, 1954 Dear Miss Hetfci I am no glad that the Archie and Mehltabel book oaae at that particular moment. X fel" that fine fox-terrier sense of & good find vhen I discovered it and that you should have opened it at the Killers and enjoyed It with them makes it twice as good. Perhaps Helen has told you that X have embarked upon a new project, which Is concerning itself vlth sapping and surveying materials for a history of the Federal Reserve System. Obviously, the first name on the list is that of your brother, and X am wondering vhere his papers were left and whether or not they have been or could be made available to students of the banking system's beginning. X hate to trouble you with this, but X can think of no one who could give me a surer answer. As for coming down to Chariottesville, X am hoping that that aay be possible this spring. Helen was worried about the dogwoods which were so beautiful last year, and at least X ought to come to see whether they have survived the drought. If X do, X shall hope to have a Marquis evening with you. Host cordially, Miss Meta Glass Xpslssima Farmlngton Charlottesville Virginia HAtkm GOLDENWEISER, Mrs. Emmanuel May 13, 1955 Dear Mrs. Goldenweiser* The last time I was in Washington Dr. Walter Stewart asked me to tell you that he vented to see Dr. Goldenweiser's papers in connection with a special project for this Coas&ttee. I assume from what he said that they have not yet gone to the Library of Congress* I am planning to be in Washington next week, from Wednesday May 18th through Friday noon Mey 20th. If it is convenient for you, perhaps you would let me cose out during that period. In any event, I will be phoning you. I hope things are going well with you. Most sincerely yours, Mildred Adams Mrs. Emmanuel Goldenweiser c/o Mr. Andrew M. Xamarck 7013 Meadow Lane Chevy Chase, Maryland GOLDENWEISER, E. A, June 9, 19$k Dear Dr. Stewart: We have just received this morning from Andrew Kamarck a list of the unpublished materials found among the papers of Mr. B. A. Qoldenweiser• There has not been time to have it copied and circulated yet, but I wanted you to know that this smallest of projects which you encouraged has apparently been more successful than we dared hope. The list looks very rich. On one further detail we would like to ask your help. The last time you and I discussed this natter, we talked of a proper place for deposit of these valuable papers, and you tended to favor the Library of Congress. I thereupon suggested to the Manuscript Division that they invite Mrs. Goldenweiser to place the papers there. Mr. Kamarck tells me that the Library has written them and that they are "quite impressed with the services they provide". TheM family has, however, not yet come to a decision. Mr, Kamarck adds I intend, if possible, to talk to Mr. Stewart about this* • X do hope you may be able to find a moment to advise him on this matter. Having done so well so far with these papers it would be a tragedy to have any thing slip, and I know that you can give the matter its final push toward safety. Cordially yours, Mildred Adams Dr. Walter Stewart Council of Economic Advisors The White House Washington, D. C. GOLDENWEISER, Emanuel A. Received June 9, List of Unpublished Material of E.A. Goldweiser 3 Loose-leaf books of personal and confidential notes on period from June 6, 1932 to April 3> 19h&» These cover notes on discussions and conferences as well as background comment on the most important topics covered. The topics covered are: Banking Bill and other related proposals, 193k-1935• Federal Reserve participation in B.I.S., 1935* Reserve requirements, 1935* Federal Reserve tax ideas, 1936. Business situation, de-sterilizing gold, 1937* Margin requirements, 1937* Treasury gold policy, sterling, 193#• Open market principles, 1939* Treasury financing, 19l&-19hk, 19U6, Postwar plans, 1939, 19hZ, 19^3> 19hh9 19h$. 1 Folder of personal and confidential notes on the Bank Holiday and gold actions of government, 1933-January 193it. 1 Folder of notes in connection with currency negotiations prior to end of Economic Conference of 1933* 2 Folders of confidential memoranda written 1922-1933. 1 Folder of memoranda - Treasury financing, 19^42. !t 1 » " " 5> folders of miscellaneous memoranda on Federal Reserve problems, various years• 1 Loose-leaf book of statements made by Mr. Goldenweiser at meetings of Federal Open Market Committees, 1936-19li5. 2 Books: Decisions and background notes of Federal Open Market Committee, April 13, 1923-June 22, 1931* Various folders of material prepared for his book, American Monetary Policy9 letters of comment, etc. Scrapbook of clippings on E. A. Goldenweiser. Folder of personal and confidential notes on the Bank Holiday and gold action, March 1933 - January 193k* Notes in connection with currency negotiations prior to end of Economic Conference of 1933* A number of folders of miscellaneous memoranda on Federal Reserve problems through the years. Two folders - confidential memoranda, 1922-1933. GOLDENWEISER, E. A. June 9, Dear Mr. Kaaarck: Thank you for your letter of June 7th with its inclosed list of the unpublished material of Mr, E. A. Goldenweiser. Ve are delighted to have this knowledge of what was left in his papers and very grateful to you for it. I shall be looking to the end of the six months in the hope that it may then be available for students. I should have written you before this about the cost of bringing the papers to Chevy Chase, but, I had understood that Mrs. Goldenweiser was going to send us some kind of a statement. However, now that we have the list I think that is, in itself, sufficient indication so that I am asking that the Brookings Institution, which administers our funds, send her a check at ooce. If I remember the circumstance, we promised to supply half the moving costs and she thought that the total would be around $300, which would mean that we would pay $150. I am asking that Brookings send her this sum. If it does not cose vithin the near future, I would be grateful if you would let me know. Thanks for your congratulations on our grant. Ve will certainly keep you informed as to what is being done under it. My gratitude to you again* Most sincerely yours, Mildred Adaas Research Director Mr. Andrew M. Karaarck 7013 Meadow Lane Chevy ChRse, Maryland 7013 Meadow Lane Chevy Chase, Maryland June 7, Miss Mildred Adams Research Director Committee on the History of the Federal Reserve System 33 Liberty Street Hew York k$, Hew York Dear Miss Adams: I am enclosing a list of the material left Ty Dr. Goldenweiser in accordance with your request. We have heard from the Library of Congress1 Manuscript Division and are quite impressed with the services they provide. We have not yet decided what to do with the material, I intend, if possible, to talk to Mr, Stewart about this. I believe you were to inform us what sort of documentation Mrs. Goldenweiser needs to provide to get condensation for the cost of the move. As she plans to go to Brewster, Massachusetts, for the summer, it would be most convenient for her to get the bills together, or whatever is necessary, before she leaves on June 18. I enjoyed meeting you and hearing about your plans. Mrs. Riefler told us that you had gotten your grant and would be going ahead. We hope we will hear from time to time what progress is being made. Sincerely yours, Andrew M. Kamarck 9, Bear Bar« "ailrliwi You may r^aember that early in the work of this committee there urns considerable discussion concemin- the papers left by the late than In & Princeton ftanshotuKu In March I called OR Mn, Gold@!tweia®r atsd found that the papers ware stored with household ?-cods, that she was eagor to gat thea to Washington, but felt short of funds. Beoause aev®ral Cosmsittee Mesfeera believed thee^ papers to be of great importance, and in tls© hope of breaking what had eeine to see an impasse* I sup^e*ted that the Gosmittee mi.-rht pay half the costs of transportation, the total ©stlisaats bsing $300 and th© Comrsitt©Q share $150• This ssall offer had a catalytic effect. The household goods including papers were brou(^it to Chery Chase where Mrs. Ooldesireissr wn*t living with her daughter Mrs. Andrew Ka&arck* I explained our interest in the papers to Mr* Xasarck, who proposed to put them in ordar and m>n& us a l i s t of the collections contents• The l i s t has just arrived, and with i t a su^estion that MNfo Ct©lden»reiser would now like the premised 4150. This whole matter has been handled on such si&plf* and inform! tanas that I hesitate to ask for ar^~ nt&temsnt of costs* It would see® to ae aajch eiore in keeping with the character of this smallest 'and perhaps richest) of projects to accept the l i s t as proof of expected performance and send a cheek for 1150 to Mrs. Qoldenweiser* Her address i s ?013 Meadow Lane, Chevy Chase, Mar/land, I would be grateftil i f you would also send an aceoisj>a!$riRg not© saying that the check was sent at w? request, and In fUllfillaent of my promise of March 2k9 19$k* Very sincerely Mildred Adams Dr# Bobert D# Calkin Brookings Institution 722 Jackson Place, H.W# Washington, D#C# GOLDENWEISER, E. A. May 3> 195* Doar Mr. Kam&rcki In Mlas Adams's absence from Hev Xork, I should like to stcknovlsdge receipt of jour letter to her of April 50th • She i s at spending a fev days in Virginia but expects to stop over OB her re tiara in Washington for Friday, May *7th> vfeere she can ba reaefcsd at The Brookinga Institution (HATionel 0*3940). I am today forwarding a oop^r of your l e t t e r to her there, so that she say get In touch with you before learing for Sev Xork on Friday night. May I also express, on Miss Adams1 s behalf, her sincere appreciation of the generous contribution vhich Mrs. Goldenveieer and you have i?.&de to this project in aaklog available Dr. Goldenveiser^ important collection of papers. Tou may be sure that she v i l l observe nhatever restrictions Mrs* Goldenvelser wishes to sake on their use. Sincerely yours, Research Assistant Mr* Andrew M. Kamarck 6403 Meadow Une Chevy Chttm, Maryland 6*K)3 Meadow Lane Chevy Chase, Maryland April 30, 195^ Miss Mildred Adams Research Director Committee on the History of the Federal Reserve System 33 Liberty Street Hew York ^5, Hew York Dear Miss Adams: Mrs. Goldenweiser, my mother-in-law, has asked me to write to you. In accordance with her agreement with you, we have "brought the Goldenweiser goods that were in storage in Princeton to Washington and now have available in Washington all of Dr. Goldenweiser's papers. While I have not yet gone over them in detail, it is clear that you were right in thinking that he had papers that would "be of considerable value in a study of Federal Reserve history. Dr. Goldenweiser apparently kept a kind of official diaiy at a number of important points in the history of the Federal Reserve. I gather from this material that Dr. Goldenweiser tried to write a "brief record on important policy matters giving the views of the important participants and how the final decision was reached. For your purposes, would you wish us to provide you with a list of what is available? Or how would you like to handle this matter? Mrs. Goldenweiser wants to be as cooperative as possible as she fully realizes that this material might be invaluable on certain phases of the Federal Reserved history. Because some of the participants in the discussions are still living, Mrs. Goldenweiser would wish to have the material used with discretion. She would want, therefore, to be informed of who it is that is going to use it and for what purposes it is going to be used. In brief, she would like to be sure that it would not be used to damage anyone who is still living. How would you like the you want Mrs. Goldenweiser to involved? I believe that the mates which Mrs. Goldenweiser informed you. financial side of this to be furnish you with a statement actual cost was fairly close had procured and of which, I handled? Do of the cost to the estibelieve, she Sincerely yours, OUJ^XJ^^^ Andrew M. Kamarck GOLDENWEISER, Emanuel April 1, 1954 Bear Br# Stewart1 When I was in Washington last week I had the great good luck to find Mrs. Goldenweiser vith more leisure than on any fprevious occasion, and I went out to Chevy Chase to see her about her husband s papers. The situation is even worse than I had been told. My previous impression was that there existed one big box into which ell Mr. Goldenweiser's papers had been bundled, and that box along vith the rest of the household goods was in the storage warehouse in Princeton. Mrs. Goldenweiser did not seem to think that there was even this much of a concentration of papers* She said that papers which were in his desk had been left in the desk, and the impression she gave me was that the household goods as such had been moved bodily and without -sorting to the storage warehouse. She has thus far not been able to do anything about the things, but now that her mother is in a ho»e where she is getting suitable care she has once »ore begun to think about her household goods. Her present proposal is that everything shall be sent to Washington to be sorted there. This will cost $300 and the money is not at the moment available. Knowing how eager this Goaanittee has shown itself to get the Goldenweiser papers, I told Mrs. Goldenweiser that I was sure financial help would be forthcoming. In an expansive moment I said that the Committee might be able to provide as much as $150 to aid in the collection and sorting of the Goldenweiser papers* This was done on my own authority end I realized afterward thst it was not particularly prudent. I am writing you about it because Mrs. Goldenweiser obviously has the greatest regard for you and seemed to indicate that she might discuss the matter with you. I think I can find the funds even if the Coaa&ttee does not uphold me in this offer. The collection and analyzing of papers is one of our tasks and vhile we have not yet expended money outside of staff -work we have several other collections in mind which may need similar help. If the matter comes up I want you to know that Mrs. Goldenweiser can depend on this offer whenever she gets ready to make the papers available. Very sincerely yours, Mildred Adams Research Director Dr. Walter Stewart Council of Economic Advisors Washington, B. G. GOLDSNWEISER PAPERS January Dear Don* This i s a post/eript to the l a t t e r I wrote you yesterday* I t leans that one of tha taost useful things we oan do in rfashington is to gat in touoh with Mr begin conversations about his pepera, She It livln.01 with her daughter* Her Mother i-j i l l and i n tha h o s p i t a l ) and fore. Ooldeawelsar rauat be in constant attendance, to that It Is o difficult moiaont for hor» Xhia we a I-he rulin- reason why 1 did not nyself telephone her last week. I toIked Thursday Right with ^ftlVer tcwert, Win R and AfjTM0t -ickeha about tha matter. They ttasura me that Mrs* Ofol^*»nw«ia«r'• only dasira i s to hsve tha $®per® rp where they will b« properly han<iled and rooat !MafUl« Uodar Uiase oiroUBStanoas, I won-er If it won11 be • good l<\et\ for you as 30oratary to write her tailing her that tha Oo iulttea ia nwh Ifttorsstad in tha papara and asking if we Bl^ht a?e her on ^ to talk with tier about than* story thpt 1 <r®t indisstad that finances wars prob&bly playing -n itaportant part. I t aay bs nooeuaary to pay toaa fee to the war?*hcma@ for getting in to 0^0 th©m # T am planning to go to Rrinaaton tha week ox' Psbruarv 8th• \]ff aa ha n>; thinks, ,;alt©r Stewart ia going to bo t h e r e o f at xh«t time T oould at leaet s@© whet the bulk uf the papars i t it atght l>« useful* I hara not brought hoai6 Krs« Goldenweiaor1 ^ address, but I w i l l phone i t t o Ml >• fUllama on Monday* 'i-'r thin^ I think of for Friday in t aonferenaa with Dr« Oalkins« 1 aia writing to •tiggsst that the three of ua lunch with bin at Brookin^s. I judre from whet you sold ovnr tha tela*phons that you hnve warfe no othar appointment for ths noon hour. I f he ia tiad up at that sonant we mi;?ht be able to get a morning appointssnt* I would think that ftridejr afternoon might be better for Mrs* doldenwaisar than tha morning. Best in S hurry. A n d mf W be repeatingl Mildred Adams Mr. Donald B« ? i o k Ohasdoal 122 Sast 42nd S t r e e t New York 179 R«Y« GRA S , Norma n February 23, 1954 Deer Professor Grass Miss Mildred Adams, Research Director for the above Committee, has asked me to send you this note to advise you that she is plannli^ to be in Cambridge oa Thursday, February 25th. She has for some time been especially Interested In the Harvard Studies la Business History and would like veiy much to come in to see you during her brief stay. She would very much like to consult you on procedures regarding this history project -which is now just getting uader way. Since the time is so short, it will not be possible for you to reply to her at the Reserve Bank in Hew York. She will, therefore, telephone your office after reaching Boston on Wednesday to see whether it would be convenient for you to see her. Sincerely yours, Research Assistant Professor N. S. B. Gras Harvard University Graduate School of Business Administration Baker 212 Soldiers Field Boston 63, Massachusetts GRuSSCUP, waiter T (papers) Hay 16, 1955 Dr. Charles G, Grosseup 1617 Huntingdon Road abingdon, Pennsylvania Dr. Grosscupi We are writing you at the suggestion of Mr. E. C. Hill who has given us your address. Remembering fhe active interest which your father, Mr. Walter T. Grosscup, took In the Federal Reserve System, the members of this Coismittee have asked me to bring to your attention the history project on which we are now* engaged and to ask for it your cooperation. The project was started in the belief that the time had come for a mm lock at the long course of Federal Reserve history. Too many of the men who had created the System were no longer available to tell historians what really happened on disputed points. Even their papers were dispersed and in certain instances destroyed. Before the losses mounted higher, it yas felt that a real effort should be made to record memories and locate correspondence and other papers that sight be of value to the historian. About a year ago the staff assembled by this Coromittee, with the aid of a small grant fro© the Rockefeller Foundation, began to interview people who had played an important part in the System1a foundation and development, and to locate and catalogue information and material which sight be valuable to the historian. The pilot project was so successful that in June the Rockefeller Foundation made us a five-year grant to further the Committee1 r> work. We have been, since July, 1954 working with the assurance that we had time in which to continue the program of collecting memories and papers from the men who have made the System what it is. Our executive director, Miss Mildred Adams, may already have coasBunicated with you on these matters. If not, may I say that we would like very isuch to know whether your father left papers which are concerned with his Federal Eeserve experience. Speeches and articles interest ua, and particularly the things which have not been published - the working correspondence, the claries, the journals, the memoranda which show vh&t happened when &n& «|iy. We would like to know anything you care to tell us about the whereabouts of such papers, their bulk, their condition and their arrangement! are they with you or have they been deposited in some library for the use of students? If you are ready to dispose of any you may have, we would be glad to assist in putting them in an appropriate repository. If you are not ready, we hope you will remember, in providing for their disposition, that such contemporary working papers are the \*ery stuff of life for an historian• Your Wm&bac&fe are needed by the historians of the Systen he helped to build. I will hope to hear from you about this. Very sincerely yours, Donald B. Woodward Secretary M 20 1OM 10 93 FEDERAL RESERVE BANK OF PHILADELPHIA DATE ^ 12 > Mrs. Singer TO FROM D - B o v e n Upon inquiry I found that Mr. Hill was probably the best qualified to answer your inquixy concerning wr. Grosscup. The attached memo is the result. I am returning your letter also, because I thought you might want to send a different kind of a letter to his son. Hope this will be helpful GROSSCUP, Walter T. Re: Walter T* Grosscup Walter T. Grosscup died about three and a half years ago. He was Assistant Federal Reserve Agent here when he left in 1923 to accept a position with the Peoples Bank and Trust Company, Philadelphia, and later became affiliated with the A* M. Greenfield Interests, Philadelphia, and during the last years of his life was a director of the Bankers Securities Corporation, and an officer and director of Lit Brothers, a Philadelphia department store* His only child is Dr. Charles G* Grosscup, whose present address is 1617 Huntingdon Road, Abington, Pa* He may be reached also in care of Abington Memorial Hospital, Abington, Pa* His home telephone number is Willow Grove 2822* Walter T. Grosscup re-married a short time prior to his death, following the death of his first wife* The address of his widow is not known by his son or the writer, and his son doubts that she would have any papers or other effects of his father which would be helpful to the committee* The son thinks' that he has some papers of the father which might be of aid in a^Sommittee study and it is suggested that the committee communicate with the son. May 11, 1955 COMMITTEE O N THE HISTORY OF THE FEDERAL RESERVE SYSTEM 33 LIBERTY STREET, N E W YORK 45, N E W YORK TBLEPHONB: RECTOR 2-5700, EXTENSION 286 ALLAN SPROUL, Chairman With cooperation of W. RANDOLPH BURGESS ROBERT D. CALKINS F. CYRIL JAMBS WILLIAM MCC. MARTIN, JR. WALTER W. STEWART JOSEPH H. WILLITS DONALD B. WOODWARD, Secretary THE BROOKINGS INSTITUTION 722 JACKSON PLACE, N. W. WASHINGTON 6, D. C. April 4, 1955 MILDRED ADAMS, Executive Director Mr. Walter T. Grosscup, 6635 McCullum Street, Philadelphia, Pennsylvania. Dear Mr. Grosscup: The members of this Committee, knowing of your active interest in the Federal Reserve System, have asked me to bring to your attention the history project in which we are now engaged, and to ask for it your cooperation. The project was started in the belief that the time had come for a new look at the long course of Federal Reserve history. Too many of the men who created the System were no longer available to tell historians what really happened on disputed pointso Even their papers were dispersed and in certain instances destroyed. Before the losses mounted higher, it was felt that a real effort should be made to record memories and locate correspondence and other papers that might be of value to the historian. About a year ago the staff assembled by this Committee, with the aid of a small grant from the Rockefeller Foundation, began to interview people who had played an important part in the System's foundation and development, and to locate and catalogue information and material which might be valuable to the historian. The pilot project was so successful that in June the Rockefeller Foundation made us a five-year grant to further the Committee's workc We have been, since July 1954, working with the assurance that we had time in which to continue the program of collecting memories and papers from the men who have made the System what it is. Our executive director, Miss Mildred Adams, may already have communicated with you on these matters. If not, she will certainly be getting in touch with you. Meanwhile, however, we would like to ask whether you still have the papers which are concerned with your Federal Reserve experience. Speeches and articles interest us, and particularly the things which have not been published the working correspondence, the diaries, the journals, the memoranda which show what happened when, and why. We would like to know anything you care to tell us about the whereabouts of such papers, their bulk, their condition and their arrangement. If you are ready to dispose of any you may have, we would be glad to assist in putting them in an appropriate repository. If you are not ready, we hope you will remember, in providing for their disposition, that such contemporary working papers are the very stuff of life for an historian. Yours are needed by the historians of the System you helped to build. I will hope to hear from you about this. Very sincerely yours, Donald B. Woodward Secretary
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