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T«E WHITE fiOUSE
WASHINGTON

November 10, 1939*

Dear Marriner:Thank you for that mighty interesting
memorandum. It will be very helpful to me and
without mentioning the source it will be useful
to me when I talk about new financing with
Morgenthau when he gets back from Arizona.
If anything comes up I will surely
telephone you and you can come back by plane
but it looks to me as if we could wait to talk
about financing and the budget until I get
back from Warm Springs about November twentyninth. I will be here and at Hyde Park until
the twenty-first when I go to Warm Springs for
six or seven days.
Have a good time and take care of
yourself•
Always sincerely,

Honorable Marriner S. Eccles, Chairman,
Federal Reserve System,
Washington, D. C.