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1225 Baltimore Trust Bldg.
Baltimore, Maryland
August £2, 1939
Federal Reserve Board
Washington, D,C.
The early part of 1939 Mr.
Marriner 8. Eccles, your Chairman, made an
address in answer to Senator Byrd of Virginia,
the theme of which was the advisability of
supplementing private spending by government
spending to the end that the national income
be brought up to and maintained at a level of
not less than 70 billion dollars, since the
economy does not function satisfactorily when
the national income falls below that level*
If you have any additional copies
of that speech, will you kindly send me two?
Very truly yours,

Dorothy M. Klahold