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PHI A L P H A KAPPA
HONORARY FINANCE FRATERNITY

SCHOOL OP COMMERCE

W A SH ING TON SQUARE EAST

NEW YORK UNIVERSITY

NEW




Y O R K , NEW YORK

February 28, 1949

Governor M. S. Eccles
Board of Governors of the
Federal Reserve System
Washington, D. C.
Dear Governor Eccles:
On behalf of the entire membership of the Finance Honorary
Society, we wish to express our gratitude for your frank
and stimulating address before our group on February 16.
Judging from the reactions of some members with whom we
have had occasion to speak in the past few days, your
speech provoked considerable discussion among those pre­
sent* It was unfortunate that the question period could
not have been extended further, but Dean Collins was aware
of the demands which had been made upon you and was reluc­
tant to impose further upon your good nature.
Our best wishes for continued success in your fight to
extinguish the flames of inflation. We sincerely hope
you will accept our invitation to address Phi Alpha Kappa
again sometime in the futurei

President

Faculty Adviser
PJDTsHS




March 4, 1949*

Dear Messrs* Fox and DeTuro:
I wish to acknowledge and thank you
for your letter of February 28, advising me of
the reactions to my talk before the Phi Alpha
Kappa Honorary Finance Fraternity.
It was a real pleasur-e tb -address
your group and I greatly appreciated the op­
portunity, and the courtesies shown to me.
1 will be glad to consider addressing
your group again some time in the future, as you
suggest in your letter.
Sincerely yours,

M. S. Eccles.

Messrs. Raymond Fox, President, and
Patrick J. DeTuro, Faculty Adviser,
School of Commerce, NeW York University,
Phi Alpha Kappa, Honorary Finance
Fraternity,
New York, New York.