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PBHSOHAL AND CONFIDENTIAL August 12, I9I46. Dear Allan: I have just submitted to the President the statement which I referred to in my letter to you of August 6. Knowing that you would be interested, I am enclosing a copy for your yery oonfidential information. I had the opportunity of presenting this letter to the President in person and discussing with him for a few minutes the substance of its contents. I have also talked to Clifford about the matter and have left a copy with his. They both seemed to show considerable interest in the suggestions. Of course, I don't know to what extent they will be used, if at all. Mien you get this letter you no doubt will have returned from your vacation, which I trust was a pleasant and restful one. Sincerely yours, Mr. Allan Sproul, President, Federal Reserve Bank of Hew York, Hew York 7, Hew York. Enclosure MSE:b
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