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ELLIS, CLAYTON & CO. INVEST/WENT SECURITIES TELE PHONE LIBERTY O2O9 IO POST OFFICE SQ. BO STON December SO, 1938 Honorable Marriner S. Eccles, Chairman, Board of Governors, Federal Reserve System, ?/ashington, D. C. Dear Marriner I have just read the copy of your letter to Senator Byrd of Virginia and wish to congratulate you on the clear cut manner in which you have expounded the economic tenets of the New Deal. It is a shame that the newspapers didn't publish the entire letter instead of excerpts from it. 1 don't see how any right thinking man could help being impressed with the logic and force of your argument. With kind regards and best wishes for a happy and prosperous 1959, I am Very /£buly yours, ccc/bw C. Comstock Clayton January 5, 1939- Dear Corn: Your letter of December 30th with regard to my recent reply to Senator cyrd of Virginia is most gratifying and encouraging. I appreciate your thoughtfulness in writing. Let me take this occasion to reciprocate most heartily your best wishes of tne New Year* Sincerely your; [ S, Eccles, . Chairman Mr. C. Comstock Clayton, Ellis, Clayton & Co., 10 Post Office bquare, Boston, Massachusetts. ET:b Bee