The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 1 EDUCATIONAL SURVEY June 14* 1956. Miss Mildred Adams, History of the Federal Reserve System, 33 Liberty Street, New York 45, New York. Dear Miss Adams: I have signed my name to and return the resolution enclosed with your letter of June 4th. I have read the letter addressed to Dr. Buchanan. It meets withrayapproval. I hope that Redvers Opie might be obtained and might be developed to be a historian. Sincerely yours, 'Joseph H. Willits Enclosure COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM RESOLUTION WHEREAS, the Committee on the History of the Federal Reserve System recognizes the following situation: 1. That it was established for the purpose of developing available materials and a history of the Federal Reserve System; 2 O That it obtained a grant from the Rockefeller Foundation specifically for archival activities, the interviewing of experienced participants in the System, the writing of a "definitive" history of the Federal Reserve System, the encouragement of other monographs and essays on the history of the System, and the editing and publication of relevant documents; 3. That the Committee has made substantial achievements in finding and making available private collections of archival materials, in collecting remembered incidents from older officers, and in facilitating the preservation of important records within the System; 4, That the Committee has in progress a promising biography of Benjamin Strong, the first Governor of the Federal Reserve Bank of New York; 5o That after two years of effort to find an appropriate author to undertake the "definitive" history of the System, and after numerous alternatives have been considered or attempted, and have resulted in failure, the Committee has reluctantly concluded that a "definitive" history cannot now be prepared under its sponsorship; 6. That substantial and important contributions can and should be made through historical research to promote a better understanding of the role of this unique System and that such contributions can be made through monographic studies that examine important episodes in the history of the System, through essays by participants in the affairs of the System, through the most comprehensive history that may now be feasible, and through other supplementary publications; 7. That such a program of studies and writings, though definitely worthwhile and probably feasible, is not regarded by the Committee as the "definitive" history originally contemplated; 8. That, therefore, the Committee should seek an understanding with the Rockefeller Foundation which will permit and authorize the Committee to use the funds at its disposal for a program of studies that may offer important contributions to the over-all history of the Federal Reserve System, including as comprehensive a history as possible and such monographs, essays, or other publications as may be approved by the Committee; and that the Committee be relieved of its obligation to bring about the writing of a "definitive" history in the usual meaning of the term; o 9. That after nearly two years of experience during which the Committee has endeavoured to exercise its administrative responsibilities as a group, it has become increasingly clear that administrative responsibilities for the project should now be transferred to the Brookings Institution and that this Committee should operate as an Advisory Commmittee to the project; 10. That the Committee has previously asked the Brookings Institution to assume larger responsibilities for initiating plans and proposals, which it has been willing to accept, and that the Committee has confidence in the capacity of the Brookings Institution to organize appropriate studies in line with the purposes of the project; 11o That in launching this revised research program the Institution will need the administrative freedom implicit in the proposal herein presented, in order to make plans and negotiate promptly with personnel, and that this transfer of increased responsibility to the Brookings Institution is made acute and especially desirable by reason of the resignation of the Executive Director of the Committee on the History of the Federal Reserve System effective at the end of July, 1956, and by the resignation of President Allan Sproul as Chairman of the Committee at the end of June, 1956; Now, therefore, BE IT RESOLVED That the Committee recommends to the Rockefeller Foundation that authorization be given for the use of the unexpended funds in its existing grant for historical research and the preparation of a substantial history, historical monographs, or other essays and documents on the history of the Federal Reserve System. AND FURTHER BE IT RESOLVED That the Committee request the approval of the Foundation for the transfer of full responsibility for administering the project to the Brookings Institution with the understanding that the Committee on the History of the Federal Reserve System will serve in an advisory capacity to the Institution with regard to research and writing for this project UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 T H E EDUCATIONAL SURVEY ^ May 10, 1956. Miss Mildred Adams, Committee on History of f*vFederal Reserve System ~'<s 1 7 33 Liberty Street, ^W*tT/ New York 45, N.Y, * ££ Dear Miss Adams: Thinking the meeting of the Committee was scheduled for Friday, I have arranged a meeting of my Faculty Advisory Committee at 1:30 on Monday here. Very much to my regret it will not be possible for me to attend. Sincerely yours, , UJJLX, seph H. Willits May 11, 1956 D#ar Dr. Willitss Details of the meeting of this Comaitte© on Monday, H&y 28th, are h& follows* Mr. Sproul asks ae to invite the ©embers of tiie Committee to lunch with1 him a t the Hew Xork Federal Reserve Bank a t one o clock. Folloving luncheon, the meeting will be convened in the lounge adjoining the P r e s i d e n t s dining room* Everyone ig very cheered th&t you can Sincerely your#* Hiidred Adaiaa Dr. Joseph H. Willits University of Pennsylvania Tae Educational Survey Philadelphia U$ Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY February 17, 1956, Dear Miss Adams: Because your l e t t e r i s such a nice one I am sending a copy of i t on to Dr. Willits in the Columbia-Presbyterian Medical Center, 168th Street and Broadway, New York City, where he is having a l i t t l e repair job done. The operation i s over and he i s in excellent shape, though yet a l i t t l e weak. Sincerely yours, Mrs. Charlotte Dodds Secretary to Dr. Willits. RECEIVED FEB 2 0 1956 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM February 17, 1956 (Letter sent to Dr. Willits enclosing Minutes of Feb. 4meeting and revised clause of enactment. MA has this particular letter. Similar ones ient to all members. See, for instance, under Woodward, Donald B.) February 16, 1956 Dear Dr. V i l l i t s i Tour note of February 6th was altogether kind and understanding. I t ie that sort cf &p~ preciation which hasffis.devork for this Committee BO exceptionally satisfying t I shall always think that association with you and your confreres tiie best possible unearned We will see that you f re reimbursed for expenses at Princeton, Thank you again for your kindness* Cordially yours* Mildred Adorns Dr. ffoseph H. V i l l i t s University of Pennsylvania The Educational Survey Fniladelphia &$ Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 T H E EDUCATIONAL SURVEY February 8, 1956, Miss Irma Burstein, Committee on the History of the Federal Reserve System, 33 Liberty Street, New York 45, N.Y. Dear Miss Burstein: Dr. Willits sent his expenses, in the amount of |8.44, to Miss Adams, and by this time I am sure you have them. Thanks for writing. Sincerely yours, Mrs. Charlotte Dodds Secretary to Dr. Willits 9 J956 UNIVERSITY of PENNSYLVANIA R E C ^EHILADELEHIA-4 February 6 . 1 9 5 6 . THE EDUCATIONAL SURVET FEB 81956 COMMITTEE ON THE HfSTOfiY OF THE FEDERAL HESfcJWC SYSTEM Miss Mildred Adams, Committee on the History of the Federal Reserve System, 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: I enclose a statement of my expenses for the Princeton meeting. I am saddened that you are leaving the ship. The slow progress is not due at any point to you. I respect your clarity, your insight and your diligence. I wish you well but I hate to think of your going. Sincerely yours, Joseph H. Willits Enclosure Expenses of J. H. itfillits to Princeton, N.J., for meeting on February 4, 1956. Round trip Phila. to Princeton $3«54 Taxi 1.75 Meal 3.15 Total $8.44 February 6, 1956 Dear Miss Doddss Dr# V i l l i t s v i l l have incurred certain expenses in connection vith the recent Committee meeting e t Princeton on February 4th• Tais office vculcl like to have an account of his expenses as early as possible so that Brookings can r e imburse him. I t should be itemized aa to type of expense trtdn fere, local transportation (trod, bus, e t c . ) , hotels meals, telephone, tips - as this i s the form in which ve send accounts to the Brookings Institution. Thanks for taking care of this for Very truly, Iraa Burstein Miss I)odds Secretary to Dr» Joseph H» Willlts University of Pennsylvania The Educational Surrey Phlisdelphift 4., Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 January 12, 1956 THE EDUCATIONAL SURVEY Miss Mildred Adams, Committee on the History of the Federal Reserve System, 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: Thank you for your letter of January 9th. I shall be at the Institute at 10 A.M. on Saturday, February 4th, D.v. Sincerely, .seph H. W i l l i t s RECEIVED JAN 1 3 w Janmry 9, 1956 Dear Dr. V i l l i t s : We promised to send you details of the schedule for the meeting of this Conmittee fit Princeton on Saturday, February Jtfh, ^men arrangements were completed. Those arrangements are now fixed as follows: Place - Institute for Advanced Studyf Princeton, Hew Jersey Tiae - 10 a.m. to 4. p.m., Februaxy Ut X956 Luncheon - at the Institute Meabers are asked to &©«£ a t 10 a,a, in the Comtaon Room of the ir.tln building # where Dr. Stewart will act as guide to the conference space which i s kindly being provided for us» Memoranda bearing on certain of the problems, to be dlscunsed should reach you ebout e week in advance of the meeting. We hope to s a i l thera on January 26th« Sincerely yours, Mildred Ad&ms Dr. Joseph H. Willits University of PennsylvaniA Tae Educational Survey Philadelphia 4# Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY J a n u a r y 4> 1 9 5 6 , Miss Mildred. Adams, Committee on the History of the Federal Reserve System, 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: I will plan to be present at the meeting of the Committee set for 10 o'clock Saturday, February 4th, at Princeton. <_ Sincerely yours, H. Willits JA* 6 !555 UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY O c t o b e r 4> 195 5 • Miss Mildred Adams: Dr. Willits asked me to send you the enclosed "Report on a Pilot Project and Proposal for a further Grant to Study and Write The History of the Federal Reserve System, Charlotte Dodds Secretary to Dr.Willits RECEIVED OCT 7 1955 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 O c t o b e r 1 0 , 1955* THE EDUCATIONAL SURVEY Miss Mildred Adams, Comndttee on History of Federal Reserve System 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: I am sure the fault with regard to the lost report is ours and not yours. I have talked with Don and made two small suggestions. I think the statement is excellent• Sincerely yours, Joseph H. Willits RECEIVED " I "!•>' RESERVE SYSTEM October 5, 1955 Dear Dr. Viilits* The office i8 appalled to learn from Mr. Woodward that you never received tae report of the Cosa&dttee's f i r s t year of work* We understood, at trie time that you were on vacation at Amonk, and wanted i t to go there, so we sent i t to ta&t address, I'ai sorry i f ve were in error. I am enclosing another copy, vita the l e t t e r of transmitted that went Kith i t . Also I understand ta&t a copy of tae original Proposal, dated 195-4> v&s sent you while X was on vacation. Tnis was our file copy, and >#ien you are fioished witii i t f we vould be niost grateful i f we could have i t back* the 1955 report need not be returned* ?ery sincerely youre, Mildred Adams Dr. Joseph H. V i l i i t s University of Pennsylvania 34U Woodland Philadelphia U* Pennsylvania September 2, 1955 tfamr I an sending with this letter a report for which I would ask your reading and ooment* Entitled "Progress and ?I&as^R it is designs*! as a report on work for the year 1954~5!>» made to go to the Committee ecd to the Hoskefeller Foundation, Sou will find in it & st&teaeiit of the eitufiller which the Coasittee faifes in view ox the fact Ui&t «t the eixi of tha first year no historian has Dean selected* ffae decision to present this problem to the foundation and to ask th#ir sd^icn has the «pprov»l of Messrp* Soroul, Calkics, Stewart, Burg«0S ©,nd «ys#lf • The »«oo entitled, *Frogrees &»d Plaxw* has prepared ly Miss k6mn •in<3 reviewed and approved by l>r* C&lkin® but hag cot heretofore been seen by others* May we have at your early convenience - preferably by the 9th of September* Br* Calkin* and I hop© to call on Dr» J^ichanan of the Foundation about It a*4NMd to us that this la the appropriate course* But will you please tell ae frankly if you have a different viev. Your judgment is better th«n that ef the rest cf «s» The Ptconc? report ecelosed if that of our executive director9 Miss Mdmma* lou may be i£tere sted in further detailn on aoai© poiists are merely ttq«w%rlse4 ic ?ey report* Appended to this, you will feer notes on visits to the twelve backs, with aosse account of what she feun^ in their files »nd libraries* Sh% also appends a study of Board and Bank officers and directors drawn from the si&ff'a biographic files* and a report on collection® of private papers discovered to date* Very sincerely yours*. Donald Woodward Secretary (Sigsed at his request, H.A.) Thr. ^osepa H. Vxllits Old Greenwich Eoad lark Inc* 23, 1955 Dear D P , Villits: thanks so much for your note confinning your message to Mr, Woodward that you will not be a&la to attend the meeting in Washington on Tuesday. It is good of you to check on Don's secretary. He has had so mmy In the recent past that it would not be surprising if things got lost, but this time we were given your message. Everyone will be very sorry that you cannot be there. Dr. Stewart was particularly grieved when I told him of your absence. We will try to send you Minutes of the meeting quickly. Sincerely yours* Mildred Adems Dr. Joseph H. Villits University of Pennsylvania The Educational Survey Philadelphia U> Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY MAY 2 0 1955 Miss M i l d r e d Adams, COtMKTTK ON THE HISTORY Dear Miss Adams: I hope you received the word from Don Woodward's secretary that I would not be able to attend the meeting in Washington next Tuesday. Sincerely yours, Z Joseph H. Willits UNIVERSITY of PENNSYLVANIA r PHILADELPHIA A » > - . « . n u w —i V S D A p r i l 2&, 1955 . THE EDUCATIONAL SURVEY MAY 2 19J3 ON THE HISTORY OF THE Miss Mildred Adams, 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: I shall be at Mr. Sproul's office on Wednesday, May 4th, at 3 P.M. There is a little uncertainty about Tuesday, May 24, but I will do my best to be on hand. If I am able to make it I will let you know the Friday before. Sincerely yours, '4. ivJUOU Stoseph H. tfillits UNIVERSITY of PEJVJVSTIgAJVJA^ PHILADELPHIA! THE EDUCATIONAL SURVEY AfJj^rilj 5y X955 OOMMOTU ON of me Dear Miss Adams: I have no suggestions to make in the minutes. I leave to see Cyril James on Thursday. Sincerely yours, 0Joseph' H. tfillits Miss Mildred Adams, Committee on the History of the Federal Reserve System. * -m February 4, 1955 Bear Mrs. Doddsi The verbatim transcript of the first Princeton meeting arrived here safely this afternoon. W© very much appreciate your promptness in sending it# Sincerely yours, Research Assistant Mrs. Charlotte Dodds Secretary to Dr. Joseph Willits University of Pennsylvania The Educational Survey Philadelphia U> Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 * /HE /H EDUCATIONAL SURVEY F e b r u a r y 2 , 1955 Miss Ellen C. Singer, 33 Liberty Street, New York 45, N.Y. Dear Miss Singer: •Enclosed herewith i s the verbatim transcript of the f i r s t Princeton meeting of the Committee, for "which you asked in your letter of the 1st. Sincerely yours, Mrs. Charlotte Dodds Secretary to Dr. Willits February 1, 1955 Bear Dr. Villits: If you heve finished with the verbstim transcript of the first Princeton meeting of the Com* Edttee, would you please return it tG this office. I had intended to mention this to you on S&turdeyf but the meeting was so exciting, I could not bear to bother you with this detail• ' : Sincerely, Research Assistant Vr, Joseph 3. «illits University of Pennsylvania The Educational Survey Philadelphia 4, Pennsylvania January 14# 1955 Dear Dr. Willits: I have your letter of January 11th and have written to Princeton asking thasi to hold a single room ^ith bath for you for the night of Friday, January 28 th. The Committee will be delighted that you can be vith theau Sincerely yours, Mildred Adams Dr. Joseph H. Villits University of Pennsylvania The Educational Survey Philadelphia U, Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 January 11, 1955. EDUCATIONAL SURVEY Miss Mildred Adams, Committee on the History of the Federal Reserve System. Dear Miss Adams: Thank you for your l e t t e r of the 10th. I will plan to be present at the Committee's meeting on January 29th, and v&ll arrive at Princeton Inn the night before. Sincerely yours, Joseph H. V/illits R EC EIVED JAU12 1955 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM January 10, 1955 Dear Dr. Willits: so much for your letter of January 7th vith its valuable comments. This is exactly the kind of thing of vnich we are in great need. The Committee will be delighted on the 29th, % this time, you will have about arrangements, snd we will expect to cide it would be more convenient to spend that they can expect you received the memorandum heer from you if 3rou deFridey night at Princeton* Sincerely yours, Mildred Adams Br# Joseph Wiliits Oniversity of Pennsylvania The Educational Survey Philadelphia 4> Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY January 6, 1955. Miss Mildred Adams, 33 Liberty Street, New York 54, N.Y. Dear Miss Adams: The mistake was on our end. The notice did come from Donald Woodward and my secre tary failed to connect it with the January 8th meeting. I will look forward to the 29th. Thank you for your telegram. Sincerely yours, •seph H. Willits RECEIVED JAN 7 1955 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM I MISC. 34 'MISC. 34.3-60M-2-S2) OF NEW YORK J a n . 5 . 1955 intt. Coin> o n COPY R&TWt5fiBA*&dM» SEND To FILES H i s t o r y of FR System SENT BY Br, Joseph L, Yilllt* > ^ The Educational Survey Ociversit^ of Fennsjilvania Philadelphia l$ Pennaylvp.nia Xour tel©0ior*e call left me worried lest you not have received word that Frinceton meeting scheduled for Jinmary 8th postponed uatil Jenusry 29th* Letter follows. Mildred Ad&ma January 5, 1955 Dear Dr. Willits: The composite list put together from names of possible economisthistorians, approved by the four members of the Executive CoBunittee, is appended* Out of these twenty-two names, only nine show two or more votes* Those nim ar« starred on. the list* I am not yet sure in what forss this information will be presented to the full Coanuittee, but if you could let us have your own first three choices on the list, I xnow that the Committee would be most gratified. We did not mention dates in our telephone conversation of this morning, but something you said about wanting the list by Friday made me wonder if, oy some unlucky chance, the notice of change of dates which was sent December 15th failed to reach you* The Princeton meeting was thereby postponed from January 8th to January 29th* I hope isoat earnestly that the post office delivered that notice to you, but if not, this may mean that we can happily expect you in Princeton on January 29th. ?ery sincerely yours, Mildred Adams Dr. Joseph H* Willits University of Pennsylvania The Educational Survey Philadelphia 4, Pennsylvania Enc. KJ^UlttTKKED ARTICLE No. postage paid. Declared value, $ ._-.,. , 19 Surcharge paid, $ wd number) (Port O«M and 8tmte) Accepting employee will place initials in space below, indicating restricted deltrery Return receipt fee f»»»•*•• delivery restricted to addressee' Special delivery fee Postmaster, per L 16—13808 -_ December 20, 1954 Dear Dr. Willita: Miss Adams has asked me to let you know that the rerbatim record of the meeting at Princeton was sent to you by registered mail this morning. My best wishes for a happy Christmas. Sincerely, Secretary Dr. Joseph WilUts The Educational Survey University of Pennsylvania Philadelphia U> Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY December 16, 1954* Miss Mildred Adams, 33 Liberty Street, New York 45, N.Y. Dear Miss Adams: I would like to have the verbatim record in order to make up lost ground. Sincerely yours, Joseph H. Willits RECEIVED DEC 2 0 1954 COMMITTEE ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM December H , 1954. Dear Dr* Villits; Since you vere present at only part of the Committee meeting at Princeton, I thought you might vish to read the verbatim record we have in the office, Ve have not made thie record generally available but would be glad to io&n you one of our two office copies. Mrs. Singer, my assistant, vill expect to hear from you, only if you want her to send you the record.. My best wishes for & ple&s&nt holiday Cordially, Mildred Adams Dr. Joseph Wiliits University of Pennsylvania Philadelphia 4, Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 December 7 , 1954. THE EDUCATIONAL SURVEY RECEIVED DEC 9 1954 COMMITTEE ON THE HISTORY OF THE FEOERAL RESERVE $YtTtM Miss Mildred Adams, Committee on t h e History of the Federal Reserve System, 33 Liberty S t r e e t , New York 54, N.Y. Dear Miss Adams: Thank you for your note. It was delightful to drop in, even for a short time. I will enter the date on my calendar for January 8th, and plan to meet with the Committee. If I have any inspiration as to a Historian or a writer of monographs, I shall communicate with thee. I realize how much solid work you have been putting into this venture, so that it is much further ahead in consequence. Sincerely yours, H. W i l l i t s VILLITS, Joseph UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY November 26, 1954. Miss Mildred Adams, 33 Liberty Street, New York 45, N.Y. Dear Kiss Adams: Your letter of the 24th will be given to Dr. Willits on his return to the office about the 7th of December. Sincerely yours, Mrs. Charlotte Dodds Secretary to Dr. Willits November 24, 1954 Dear Dr. Villitsi It was a de'i&htful surprise to see you at Princeton on Saturday, We had *;iven up hope that you could come, so that when your a-11 to tr. Stewart came through it vas not immediately re&Iized that the oper&tor's "i>r. Villa" was in truth your revered self. I hope we aaade up for that in warmth of welcome when you actually arrived. Minutes of the Princeton meeting will be sent you shortly, but meanwhile this is to serve as a small reminder en two counts: First, that you pat on your calendar the date January 8th for a return engagement at Princeton - an all day meeting to consider the document which the experts will produce, and to aove forward with a decision on the choice of a man (or men) to write the comprehensive history. Second, if you have a sudden inspiration, either for The Historian or for writers of sonogr&phs, we would be delighted to have them by December 10th so that we can circulate them to the Coiamittee. Most sincerely yours, Mildred Adams Dr. Joseph Willits University of Pennsylvania Philadelphia, Pennsylvania UNIVERSITY of PENNSYLVANIA PHILADELPHIA 4 THE EDUCATIONAL SURVEY November 2 3 , 1 9 5 4 . Miss Mildred Adams, Research Director, Committee on the History of the Federal Heserve System, 33 Liberty Street, New York 45, N.Y. Dear Kiss Adams: I am very happy to join the Committee, but I am quite certain I will be the feeblest member thereof. I join it because of what I will learn, not because of what I will ;p-ve. I am not a "fachman" in this field, as you know. Sincerely yours, kJ Joseph H. Willits c o iovwbsr 19, 1954 Soar Or* Sbaald Voodwajpd phonod fm%&9$&y that you had aoooptad tha Comitjs l&vitation to 1»«OOK« « a«£:ber« 1 fcoou 1 ips&k. tor s l l of iiiec. i a ;,aythat your d#aial0a will b^ grmt®& with v»iy gta^iat p-lwksur*, tot o a l j thagr h»v» so vn#t ^ r«^«ufd for your wiadoa and jifclg.fetii.t, but also , i f 1 majr boiYov a t#tm froa tti® r»dio '^oirld, your 1A wo v@ry iil^h wife ta ten to m«@t with tli«i ©a 8tMd&y> tlw 21it f but I mkdi«r«taikd th«t s t j not I fcc. th«r»jror# seadlag you %ltli thia a HI® of the Ttvgrm® av« b«Mi JSSCI® fro» tls«i to ti»# ta o.rdor to ke#p the Condtteo vita vh*t t&# staff to&* Veen I fcod t© this a note of porsoaal pl«n«ura that you. havo fouad i t liossible % 1 s t us add yoor w s « to $®®B& vm can ssoasalt as G©wtiti## f axy sincoraljr Hlldrad Adams Dr. ap of lac. Progress Reports to date. October 29, 1954 Dear Dr. Vlllitas It it vitJi great pleasure that I invite you formally to become a somber of the Coseidttee on the History of the Federal Heserve System, The genesis and purpose of this Comittee you know vith no further explanation from .*•• Tour inspiration and your help in tninklug through its problems h*ve been of inestimable value, and as v» move along ve keep reaping the rewards of various rich trains of thought which you h»ve set in motion in various places. W would like very much to hisve your continuing counsel, and to be able to draw on your very valuable insight*. You will want to know that tbe orojeet work is moving ahead along the lines set for itf with Dr. Hbert Kineaid having almost finished his survey of the Carter Glass papers, and Dr. tester Chandler at work on the biography of "Benjamin Strong - Central Banker*. Our first approach to the history itself Is shortly to b# tade by a thre#-a&n group couponed of Dr. fsrl Bopp, Br# Elmer Wood and Dr. Chandler wb© are weetimg in November, first an e group and then in conference vith the Coissdttee, to define the limits of a task which has grown in depth and extent with every d«y f s work on it. ¥e vould like very such to b& able to include you as a member of the Committee at the tlsui of that meeting (Sovestber 21st in Friaceton), though we recognise that this is pressing for an early *jG6** fhe Cowaittee is unanisjoua in inviting you to join its ranks, and will be very war® in its welcesie if you feel you can consent. Ve miss you, and we need you in this project which you did to saich to spark. ¥ith warmest regards, Cordially, Donald B. Woodward Dr. Joseph Willits e/o Dr. Malcolm Preston University of Pennsylvania 3441 Woodland Road Philadelphia, Pennsylvania
@FedFRASER