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December 5ยป 1938

Hon. Marriner S. Eccles, Chairman
Board of Governors
Federal Reserve System
Washington, D. C.
Dear Chairman Eccles:
Judging from what appeared in last Friday's "New York
Times", it seems to me that you did a swell job Thursday in New
York City. The latter part of my speech at Raleigh, North Carolina,
on Friday, copy of which is enclosed, is pointing in somewhat the
same direction. Also there is encl6sed a chart prepared by Louis
Bean on the relationship between the profits of 200 leading manufacturing corporations and their production. I am enclosing too a
little booklet entitled "Paths to Plenty" which I hope may do some
good among some of the church-going people in the small towns. It
has in it some reasoning along this same general line.
I suppose you have seen the book "An Economic Program for
American Democracy" published by the Vanguard Press. There is
some good material in it along this line also and I had the pleasure
of sending a copy of it recently to the President.
Hoping that all is going well with you, I am



December 7, 1958.

Dear Mr. Secretary:
This is to acknowledge receipt of your letter of December 5th
enclosing a copy of your recent speech at Baleigh and a copy of
your Earl Found&tion lectures, which I am glad to see brought together in the booklet, "Paths to Plenty*. The Baleigh speech,
particularly the latter part, is so close to the line of reasoning in ny oina talk in New York that I aa, of course, both gratified
and reassured. I hope that the booklet will find its way not only
to such God-fearing people as may be left in the smaller communities
but also to the numerous others in the business and banking world,
who doubtless need religion and certainly need econoiaic education.
I cannot help but feel that your contributions, such as the
book published by the ?anguard Press, which I hope the President
has found an opportunity to read, must be effective even though
the progress so often seems to me to be perilously slow.
Your iasediete responsibilities and problems are so heavy that
I know your tiae is fully occupied, but, nevertheless, I hope I
aiay have an early opportunity to see you for further discussion of
matters that continue to concern us both.
I need not tell you that your sympathetic understanding has
been a constant source of encourage sent to me.
With kindest regards,
Sincerely yours,

, S. Eccles,
Honorable Henry A. Wallace,
Secretary of Agriculture,
Washington, D. C.