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June 15* 1951 D e a r M r * Szymcz-ak; T h a n k s lor your letter of the fourteenth. I h o p e things w o r k out to your best inter* tst a n d to y«n»r satisfaction. Sincerely yours, H A R R Y S . T&OUiLelutf Honorable M. S . Ssymcz&k X M e m b e r of the Board Beard of Governors of the Federal Reserve S y s t e m W&fthisigton* D. C. ^ ^ BOARD OF G O V E R N O R S OF THE FE D E R A L R E S ER VE SYSTEM WASHINGTON M. S. S Z Y M C Z A K M E M B E R OF T H E B O A R D June ll*, 1951* ISy dear Mr* President: As I have told you in our conversations, I am very grateful to have had the opportunity to serve the public interest as a Member of the Board of Governors of the Federal Reserve System. You reappointed me on February 1, 19U8 to a full term of fourteen years* I value highly this evidence of your confidence* I am happy to say, as I told you in your office, that our official and personal relations have always been excellent. Today is the eighteenth anniversary of service in the Federal Reserve System. I have had macy opportunities to leave the System to increase ny income, but the -work here satisfied completely ay natural desire to work for the public good. Now, however, the time has come -when I must meet sy financial responsibilities at home— to my wife and children. Therefore, very reluctantly, I must advise you in writing, as I have done in person, that I shall be compelled to accept one of the offers from private business, which offers have been pending for quite some time. At present I don* t know what I shall accept nor ■when. However, when I do accept one of the offers, I shall advise you to that effect and my resignation will then be in your hands to be accepted by you at your pleasure. You will always have my warm thanks and respect. It also goes without saying that I shall be available to ay Government to serve in an emergency on an Had hoc”basis where ray qualifications may qualify me for that particular assign ment. Faithfully yours, M. S.'Szymcz The Honorable Harry S. Truman, President of the United States, The White House, Washington 2$, D* C.
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