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November 13, 1939*

Mr. vieorge Backer,
President and Publisher,
New York Post,
75 west Street,
New York City.
Dear Mr. Backer:
Enclosed is a copy of the address which
Chairman Eccles delivered last week and which was
the subject of an editorial in the New York Post
of Saturday, November U .
It is evident from the editorial that the
writer had not seen the full text of the speech,
the main point of which is that taxes should be
lifted on the "small man1* and shifted to those groups
now relatively undertaxed among whom more and more
idle funds are accumulating.
Very truly yours,

Elliott Thurston,
Special Assistant
to the Chairman.

enclosure

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5 W È S T S TR E E T, NEW YORK

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FO UN D ED

November 25, 1959

O FFIC E O F T H E P R ES ID EN T




1801

Hon. Elliott Thurston
Board of Governors
Federal Reserve System
Washington, D. C.
Sear Mr. Thurston:
I ai:i sox-ry to have been so delayed in acknowl­
edging your kind letter of November 13, addressed to Kr.
Backer, enclosing copy of the address by Chairman Eccles.
I want you to know that your letter and enclosure
have been sent, to our Editorial Board for their information;
and I appreciate your writing us as you did.
Sincerely yours,

Butler Van Steenbergh
Secretary to the Publisher