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FILED IV ’ m . HOPiviNS June 22, l$5l Respectfully referred for the files of the Board of Governors of the Federal Seserve System* WILLIAM J, HOPKINS Executive Clerk Transmitting copy of Honorable Marriner S. Eccles letter to the President tendering his resignation as a Member, Board of Governors, Federal Reserve System, to be effective July 1 $ 9 1951; copy of the President’ letter accepting his resignation s effective at the close of business July ll;, ,1951* Jmm 22, 1 9 & Respoetfull^r referred for the f ile s of the Board of Governors of the federal Steawve System* WILLIAM J* HQPKEM5 Executive Clerk Transmitting copy of Honorable Marriner 3* Eccles*letter to the President tendering his resignation as a Menfcer, Board of Governors, Federal Reserve System, to be effective July 1 $, 1951 1 copy of the Presidents letter accepting his resignation effective at the close of business July Hi, 1951* C> A m 81, 1951 My daar Mr. Ecclest Because of the considerations which you urge:la your letter of June twentieth, 1 feel that X have m recourse bat to aeqaiesee in your wishes. Accordingly, I accept, effeotive at the olose of business cm Saturday, «July fourteenth next, your resignation as a Member of the Board of Governors of the Federal Eeserve System# I can understand how when you first eaae ie Washington seventeen years ago you fully' in tended that yemr pablic service would be of @o®~ paratively brief duration* Incalculable forces have extended that service. In consenting to the relinquishnent of ytatr duties at this time cmy I wish you happiness and sontinued success aa you return te your hoae and private business affairs in the ffest. Itry sinaerely youra, HARRY S. 1 Honorable Karriner S# Beclee, Member, Board of Governors, Federal Eeserve System, Washington 25, D. 0, wslh-ewr BliSDIATE RELEASE JOKES 21, 1951 The President has sent the following letter to the Honorable Uarriner S. Eccles, accepting his resignation as a Member of the Board of Governors of the Federal Reserve System: rlly dear Mr. Eccles: t Because of the considerations which you urge in your letter of June twentieth, I feel that I have no recourse but to acquiesce in your wishes. Accordingly, I accept, effective at the close of business on Saturday, July fourteenth next, your resignation as a Meiaber of the Board of Governors of the federal ^ s e r v e System. I can understand how •when yon first came to Washington seventeen years ago you fully intended that your public service would be of comparatively brief duration. Incalculable forces have extended that service. In consenting to the relinquishment of your duties at this time may I wish you happiness and continued success as you return to your home and private business affairs in the West. Very sincerely yours, /s/ HARRY S. TRUMAN" Following is the text of Mr* Eccles* letter to the President: ,M y dear Mr. President: ! It is now more than 17 years since I cam© to Washington to engage in a public service that I fully intended and expected would be of comparatively brief duration* A succession of events, including the war period and the special problems of its aftermath, led me to stay on. It has been a groat honor and privilege to servo m y country for so many years, but I now feel the time has arrived when I can and should return to m y home and private business affairs in the West* Accordingly, I am submitting herewith my resignation as a Member of the Board o f Governors of the Federal Reserve System to be effective as of July 15, 1951. Respectfully, /s/ JttRKDlER S. ECCIES" B O A RD OF G O V E R N O R S OF T H E FEDERAL RESERVE SYSTEM WASHINGTON June 20, 1951< My dear Mr. President: It is now more than 17 years since I caiae to Washington to engage in a public service that I fully intended and expected would be of comparatively brief duration. A succession of events, including the war period and the special problems of its aftermath, led me to stay on. It has been a great honor and privilege to serve my country for so many years, but I now feel the time has arrived when I can and should return to my home and private business affairs in the West. Accordingly, I am submitting herewith my resignation as a Member of the Board of Governors of the Federal Reserve System to be effective as of JuOy 15, 1951. M. S. Eccles. The President, The White House.