View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Ti* Bofir;i hM b»en laJfeNtti % Mi Allan rr>^L tfeftt you
«eked him to && 2t & Q you ai your mfritmw on your forthcoming
c 3 fp B r
t r i p i« th# Bogota OlttfMNftft* ** have told Mr« %r#ul, iad I am
• you, Ihit * I N h&» no objection I* hlfl serving
in thfet c&j'Sci%-. Ti»a Bo«dNta r*a^v«r, h.
-r^d this J
meBt i : of t t » d«9ir« for h E Mf M
M M lM
ffie tent
tio» of the Mtetftl isM7V» Sjystas f»c veil & af th* %staa*s good
r»lationfc with oih&r dai«rt?fiei5ts •£ Ikt iVWifWMV%« 0
li^ctiBs our ¥i$vs am ti\%$: m»%%n vHk you I M B ^?
^ M
iu tb^ a##.swhil© tht Bo&rd W & Ilk* lo brim to your m%%
-' nests- to "^-erim B&ok ©fflei#ls or 9%&ft jsMMdsar* to s«rwi M forfb •Jttfimi of the Ctawm&oat*
I t l i our i'0»Xin,. ta .t :-Tioi tWMHbliKtiMi « ith MM il
Wildl N avpropri*tt in viov of HM f(BMtl«M of
:e QtelfMN of Hw 1« rd, la Uu
1st ffcw i f the Board's rtiptwiHiilitlti for
x t t y l t l — of tlto Fe^^ral B#t«rr« Baakfiy •t|)iilit1jf in Utlnwii
•>*r«« It l i hoped th&t ^JOB toaiidtmLtlot you will igUM t ^ t
ult&tlon aa cu©»ti«Bi of *hl© klad LSPtlviaj the f M M y M
s v-.-ntid be botb
• mm
U»k second
to £.ec0M^t^r you to
vitk tfeM Bofcrtl*


B. -Uoacicm of
i 4ml Bank* Ti .
.:o^s ao>t eonaid^r tlNtt f it
iss aj^r * ^ lapnptV for Baaerif* BMIB officl&I**
tC ih& PMterfel r:@jsorr© K^nk of I M Xork^ to b I part o
sort, butfcSMMWf« fr^.^enti^ a&tter* of
p o r i t i e s - o& valcfe llM Poiai stimsld N &IT#E
to « i t s viawi bafor© ,z,t$- .mmh uppcAxttimtot %M

Honorable John ¥. Snyd«r


I aa alio writing to the Secretary of State
general question of the representation of the Federal
at the Bogota Conference. A copy of asy letter to the
State is enclosed for your information; you will note
ing him a copy of my l©tt©r to you*

regarding the
BeBerre Systea
Secretary of
that I am send-

Sincerely your*,

(SiGNED) N. S,

M« 8. Eccles,
Chairman pro tern*

Honorable John W. Snyder,
Secretary of the freamxry,
Washington 2$, D. C.
cc: Honorable George C. Marshall, Secretary of State
Mr. Allan Sproul


The Secretary of the Treasury



Honorable Marriner S. Eccles
Board of Governors
Federal Reserve System
Washington, D. G.
Dear Marriner:
Your letter of April 9> in which you express the
desire for harmonious and efficient operation of the Federal
Reserve System as well as of the System's good relations with
other departments of the Government, has been read with great
I am pleased that you have advised Mr. Sproul that
you have no objection to his accompanying me to the Bogota
Conference as an adviser in the event that I maKe the trip.
I have found Mr. Sproul extremely helpful to me
since I have been in Government service, both as friend and
as counselor, and 1 have called upon him in many instances
to assist me in deliberations. Unfortunately, I was unaware
of the necessity of propriety of obtaining the Board of
Governors1 approval of these discussions and consultations
with ^r. Sproui. I quite naturally assumed that if there was
any question in this reference that Mr. Sproul would clear
the matter with the Board himself.
I shall be happy to discuss with you and the Board
on all occasions any questions which involve the policies
of the Treasury and those of tne Federal Reserve System.
My contemplated trip to Bogota will be made only
upon the specific request of the Secretary of State, who is
heading up the delegation, for I feel that the selection
of the representatives from the various Government agencies
to conferences such as that being held in Bogota rests solely
with him.



Mr. ^proul was requested by me to go as my
personal adviser, and not as a member of the Federal
Reserve System.
Now that you have stated the rules of the Board
with reference to requests for Reserve Bank officials
to serve as advisers, I shall be happy to take the
matter up with tne Board in the event I find it appropriate and desirous for such consultations in the future.
Again let me thank you for the fine cooperative
spirit shown the Treasury Department by the Federal
Reserve Board.


(signed) Johnft.^nyder