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February 28, 1955 Internal Memorandum Regional Contributions In talking about the regional contribution to the Federal Eeaerre System, a question which interests Br. Stewart only slightly but seems to keep nuking at him, he was talking about the movement of people within the System. Governor Harding, for instance, came from Alabama, went to the Board, then went to Boston, loy Xeung came from Minneapolis, went to the Board, and then to Boston, ihy it should have been that Boston, with all its own individual characteristics, was willing to take men from the South and lorth as Governor of the Federal leserve Bank, is a question. •Mr* Burgess has moved around. So has Mr. Chester Davis. Mr.. Allan Sproul came from San Francisco to lew Xork. It is Br. Stewart1 s contention that this mobility within the System is one of the great contributions which the regional character of the Federal Reserve System makes to the whole complex. MJi:IB -
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