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Personal and
Confidential

July 25, 19U6.

Dear Allan:
As a result of & verbal statement which I
made to a group who met at the White House a couple
of weeks ago to discuss the inflationary problems
generally and OPA in particular, I was asked by Mr.
Clifford, Special Counsel to the President, to submit a memorandum to the President along the lines
of my discussion*
Last Friday I sent the requested memorandum to the President through Mr. Clifford. I
know that the President has read it. I am not
hopeful, however, that it will bring about any
results* I thought you might be interested in
reading it, so I am enclosing a oopy for your
•ery confidential information.
With kind regards,
Sincerely yours,

Mr. Allan Sproul, President,
Federal Reserve Bank of Hew York,
New York 7, Mew York.

Enclosure

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