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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON OFFICE OF THE VICE CHAIRMAN July 12, 1945 Honorable larriner S. Eccles, Hotel Ben Lomond, Ogden, Utah, Dear Marriner: It is apparent to me from incoming telegrams, copies of all of which I have asked Sam Carpenter to send to you, that the Federal Reserve Banks are inclined to be argumentative as between the elimination of the preferential rate and the increase in the preferential rate. I am asking Piser to make a compilation of the arguments against and for our position and will send it to you. We have a Board meeting scheduled for next Fonday, at which time I hope Matt will be back and we will have a quorum. After reading these telegrams, if you have any views, please telephone me. Sincerely, /
@FedFRASER