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THE DIRECTOR GENERAL PAN AMERICAN UNION WASHINGTON, D. C. February 2, 1940. Ify dear Mr. Chairman; Permit me to extend to you most cordial congratulations on your reappoimtment• I feel, however, that congratulations are primarily due the people of the United States in being assured of your continued service ia the important post that you occupy* Very cordially yours, L. 3. Rowe Director General Hon. Ifetrriner 8 . I c c l e s , Federal Reserve Board, Washington. February 6, 1940. My dear Dr. Rowe: You are very kind to write me with regard to my reappointment and I appreciate your generous comment. My service has already continued longer than I expected, but in view of all of the circumstances I could not very well decline to remain somewhat longer. Sincerely yours, Dr. !•• S* Rowe, The Director General, Pan American Union, Washington, D. C. ET:b $3