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January 51, Mr* Eccle& had to go up to Il#w York Xa&t ntjfri MMl 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 MM ?rfe»lci&at s i g h t hexid %M | MMMlMiMM to the n©^ Board • I woula l i k e to e&toh up %ith you p r e t t y ©oon MMS 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. i&t&chaent* Chairman xxxxxxx 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. Eljb
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