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May 13, 1935.

Mr* A* P* Giannini, Chairman,
Bank of America N* T* & 3* A*,
San Francisco, California*
Dear Ur* Gianninii
This will acknowledge your letter of May 14, enclosing
co'yy of your article for the magazine "Today" and alao the letter
of May 15, signed by Mr* Romero, enclosing a corrected draft of
the same article* The additions have been noted and we all feel
that they are an improvement over the original draft*
I desire also to acknowledge your letter of May 15, enclosing clipping from the paper of the Ed £* Leake Publishing
Company, evidently of Woodland, California* It is gratifying to
see that your Bpport of the Banking Bill, particularly your answer
to Mr. TTarburg, has attained such wide publicity*
Your letter of May 15 also encloaed a copy of Mr* Collins1
letter to you dated May 10, in which he commented on the testimony
of Governor Eccles and the remakks of Senator Glass with reference
to branch banking* Mr* Collins did not mention in his letter, al­
though I suppose the transcript of the evidence showed that Governor
Eccles gave as his opinion that branch banking even across State
lines but within trade areas would ultimately be permitted*
Entirely aside from the question of unification and better
control of the money system, an extension of branch banking,?a&liUu&5t
so far as that prox>sed by Senator Glass, would find ready support
here in my opinion as it is an essential arrangement in order to
provide safe and amj>le banking facilities in the smaller communities.
With best wishes, I am
lours cordially,

Lawrence Clayton,
Assistant to the Governor.