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F E D E R A L R E S E R V E BANK O F S T . L O U I S
ST.LOUIS 2,MISSOURI
OFFICE OF
THE PRESIDENT




February 6, 1947

PERSONAL AHD CONFIDEHTIAL

Mr. Elliott Thurston,
Assistant to the Chairman,
Board of Governors of the
Federal Reserve System*
Washington 25, D* C«
Dear Elliottt
Perhaps you saw the enclosed comment by
Ray Moulden. It was carried in the Chicago Journal
of Commerce of February 4«
With best regards, I am
Sincerely yours,

Chester C« Davis,
President•

Enclosure

This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
Moulden, Ray. “Washington Roundup: Regulation W to Stand.” Chicago Journal of Commerce,
February 4, 1947, p. 3.