View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

January 51,

Mr* Eccle& had to go up to Il#w York
Xa&t ntjfri M l before Itsviag ti&kod mo t o
MHfl over to you the &ttaahed
or raslaAMr which you requested
of Me t«Xephooe ti&lk.wi'th you &bout & brief
Mi<MM9 ftt trhioh M ?rfe»lci&at s i g h t hexid
% MMMlMiMM to the n©^ Board •
I woula l i k e to e&toh up %ith you
p r e t t y ©oon M S tfilk over thftt a&tter you
in our b r i e f conversation on Hew

Elliott Tharuton,
to the
Honorable Marvin Molntyroy
jittiii—% Secretary to the Pr«tident,
The White House.

January 51, 1956 «

To From


Mr. iiclntyre
Chairman Eccies

In accordance with your request, I as herewith
our telephone conversation of yesterday as a
reminder. How that the Senate liab unanimously confirmed
the six new members of the Board of Governors of the
Federal Reserve System and formally notified the President, I aa hoping that It will be convenient to have the
State Department prepare their commissions immediately,
or in any case, not later than Monday morning, as the
terss of the old Board expire Friday night, and that the
executive orders designating the Chairman and Vice Chairman of the new Board may be prepared so that they can be
issued at the same time as the commissions.
Personally, I think it would be most appropriate
to have the President himself hand the comiaissions to the
Board members. Ordinarily I would not advance this suggestion. An entire Board is taking office. This is not
only of historic significance in the life of the Federal
Reserve System, but is of large national interest and importance. The President would thus publicly recognize
the importance of the new Board and of the occasion and
would give encouragement, inspiration and prestige to the
entire membership as they take office. Incidentally, it
would afford an opportunity for the President to meet the
new members at one time, and should take but a very few
minutes. I would suggest that the most appropriate time
would be Monday noon or early afternoon, but if this is
not possible, then not later than Tuesday morning.