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THE WHITE HOUSE
WASHINGTON

February 9,
Dear Marriner:Jiminy Byrnes has shown me your letter
and the proposed statement and I am a bit worried
because there is really nothing to show the overlapping of examinations of banks. You certainly
gave me the impression the other day that most of
the banks get examined by the Federal Reserve,
by the FDIC and by the Comptroller of the
Currency and I was, of course, worried because
I did think that this multiplicity of examinations Jiad been eliminated in greater part
many years ago.
It raises a question in my mind as
to whether anything should be done at this
time unless it would result in a great saving
of manpower and also duplication or triplication
of examinations. As it stands I cannot discover any great saving except possibly a little
in overhead in Government agencies.
Always sincerely,

Honorable Marriner S. Eccles,
Chairman, Board of Governors,
Federal Reserve System,
Federal Reserve Building,
Washington, D. C.