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IRVING M. IVES NEW Y O R K ^benale 'jUCmfeb WASHINGTON, D. C. February 9, 1951 Honorable M. S. Eccles Board of Governors Federal Reserve System Washington 25, D* C. Dear Governor Eccles: lour l e t t e r of February 5 i s very much appreciated. I am especially grateful for the copy of the statement "The Failure of Our Present Monetary Policy", which you enclosed* I have set i t aside f o r earliest possible reading. Sincerely yours, IMI: ima