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J o h n L .W h i t e h u r s t 401 E A S T O L IV E R STR EET B A LT IM O R E July Ikth/39 Mr* M.S•Eocl®s , Chairman Board ofGovernors of the Federal Reserve System, Washington. My dear Mr. Ecclea tThank you very much for your letter of June 50th. Candidly I am agreeably surprised to learn that you are nob in aeeord with many offpolicies inaugarated and I am sure that the lack of your advocacy of unorthodox ideas is of con siderable value even i f this does not always result ia preventing the adoption of the same. I appreciate in Boston and this has been keenly analyized matters of ing through can be induced» your sending a copy of your address made read with great interest* You have vital importance and i f sufficient think the results cannot fa il to be beneficial* I quite agree that many suggestions made through business channels are valueless and there is much loose thinking on both sides of the fence* Apparently it is no* not tcrouch to hope that there will be a gradual even if slow trend towards the desired goal in the interests of the people as a whole* Very truly.
@FedFRASER