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Webb, A. “Binge and Rents.” Press-Union (Peekskill, NY), 1945.


Mejr York 16.
February 25,1945.

Mr, Mariner E. Eccles,
Chairman of the Federal Reserve Board,
Washington, D.C.
Gentleman: Allow me to take the liberty of giving you some
information as where most of the gambling takes
With interest I read your article in the New York
Times regarding the outline for taking drastic
steps in preventing inflation.
The first step to be taken in preventing inflation
should be to stabilize wages, which should have been
done immediately at the outbreak of the war, as Mr.
Baruch suggested. But the labor vote was more important
to this government. The rise in wages , means a rise
in the cost of living, which we have and is a great
hardship for a person on a fixed income. I am 70 yeaBB
old and my income has shrunk to |1500 per year. Here I
have to get along, while the congressmen cannot get along
on $10,000 per year. What a pity? And they do not protect
our interests.
To-day the defense worker is making so much money, ma ny of
them only working a few hours a day at the suggestion of the
employer, for a whole dayrs pay. I illustrate here an
instance I witnessed. While in Saks Fifth Ave, trying to
purchase an inexpensive garment. A colored woman came there
and purchased three dresses at a price of |69.50 each. This
sale completed she siari;" ME wants a Mink Coat. The saleslady
tried to dissuad her , saying she better save her money for
the lean years, whereupon she sais WI wa nt the Mink coat, if
bad times come, I go on relief.n We pa y taxes for high wages
and then again for the relief. A friend living in Atlantic City
mailed the enclosed to me, which speaks for itself. The
gambling there is beyond speaking, the summer trentiis are
doubled since last year which were then exorbitant, There is a
ceiling price on yearly rents, which is a blessing, why pot
a ceiling price on summer rentals ? To my knowledge there is
not much profiteering in securities, in no comparison with
Real Estate.
Elizabeth Kramer.