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August 18, 1947

Mr, J* Burke Inapp
Board o£ Governors
Federal fieeerve System
Washington 25* D* C*
Dear Burkes
I acknowledge receipt of ytmr letter of August 12th enclosing a letter
to Secretary Snyder for m& signature*
I am glad that the Treasury and State Department® decided to h a w the
National Advisory Council undertake the negotiations for the American
aide with the British delegation headed by Sir Wilfred lady* I regret
that I a® not able to be in Washington at this time to assist in the
negotiations, however, I have discussed with you the matters that are
likely to erne up in the discussion with the British and you are fully
advised as to my views and I have every confidence that you and Governor
Szymcsak will be fully able to represent me in any and all negotiations*
1 think it was very wise for you to cancel your reservations on the
Queen Elisabeth, sailing August 16th* It is much more important that
you be in Washington for the next two weeks even if it means you will
have to forego the planned two weeks* trip on the continent*
I will be here until Saturday morning when I am leaving by auto for
Sun ¥alley, Idaho* 1 expect to be there until Tuesday, the 2frd, when
I will return to Ogden* If it is essential, you can reach me by phone
here at Ogden or Sun Valley*
I have gone over carefully and signed the letter to Secretary Snider
which you prepared in accordance with instructions given to you prior


Mr# J* Burite Kn&pp


to my leaving Washington* I think the letter cohere quite adequately
the matters that I wanted to take up with the Secretary prior to hi®
attendance at the London meeting* Inasmuch as Mr« Sproul is going to
the London meeting, it may be desirable to send him a copy of the
letter. Also* give S&ymcssak a copy* advising them it is in accordance
with my suggestion*
Sincerely yours,