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BURNET R. MAYBANK, 8 . C., CHAIRMAN J. W . FULBRIGHT, A R K . HOMER E. CAP EH ART, tND. A. W I L L I S ROBERTSON, VA. JOHN W . BR1CKER, OHIO JOHN SPARKMAN, A L A . IRVING M . IVES, N. V. J. A L L E N FREAR, JR., DEL. ANDREW P . SCHOEPPEL, KANS. PAUL H. DOUGLAS, I L L . EVERETT MC KINLEY DIRKS EN, I L L . RUSSELL B. LONG, L A . WALLACE F . BENNETT, UTAH A . LEE PARSONS, CLERK QlCrcHeb ^Derxale COMMITTEE O N BANKING A N D CURRENCY February 8, 1951 Mr. M« S« Eccles Federal Reserve Bank Washington, D. C# Dear Mr* Eccles: I very much appreciate your thoughtfulness in sending Die a copy of the University of Chicago statement on the failure of the present monetary policy, I will read it with a great deal of interest• I went to take this opportunity to congratulate you on your contribution to public understanding of this problem, I admire your courage arid hope you still*plan to stay in Washington long enough to see this current fight through. With kindest personal regards, I am Sincerely yours, Wallace F* Benh&fct WFE:£3