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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. US/im
