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H. LANE "Young 1211 CITIZENS & SOUTHERN NATIONAL BUILDING ATLANTA, GEORGIA p# Q. B X 4-899 O January 26, 1951 Mr. Marriner Eccles c/o Federal Reserve Board Federal Reserve Bank Building Washington, D. C. Dear Marriner: I noted with very deep interest i n the press this week your recommendation of a 44-hour work week without overtime pay, and hope you w i l l be successful i n bringing this about. I a very definitely of the opinion that m there aren't enough working people i n this country to carry out our production schedule - agriculture and preparation for war - on a 40-hour week basis and I can see no reason why labor should not make a contribution to the extent of working four more hours a week on the same salary basis they are getting. Wishing you a l l success i n your undertaking i n behalf of the Government, believe m e Sincerely yours, H. Lane Young January 31, 1951. Dear Lane: I was glad to receive your letter of January 26 with its encouraging remarks in connection with my recommendation of a 44-hour work-week. I always appreciate having the reactions of others, whether of approval or criticism, to my public utterances. I t is encouraging to know that you approve of the recommendation and hope that i t w i l l be put into effect. No doubt you saw only the newspaper reporting of my statement and thinking you may be interested in reading the f u l l text, I am enclosing a copy herewith. I t certainly has been a long time since I have seen or heard from you. I hope w w i l l not need a press report on some e remarks of mine to be the excuse for getting in touch with each other in the future. I t was nice to hear from you. With kindest regards, Sincerely yours, M. S. Eccles. Mr. H. Lane Young, 1211 Citizens & Southern National Building, P. 0. Box 4899, Atlanta, Georgia. Enclosure H. LAKE YOUNG 18n CITIZENSftSOUTHERN NATIONAL BUILDING ATLANTA, GEORGIA p. Q. B X 4899 O February 8, 1951 Mr. M. S. Eccles c/o Board of Governors Federal Reserve System Washington, D. C. Dear Marriner: Many thanks for your letter of recent date enclosing copy of your statement to the Committee, which I have read with a great deal of interest. I t seems to m that the recommendations you have e made are fundamentally sound and for the l i f e of m I can't e see why the Administration i n Washington i s n ' t bright enough to do some thinking that i s equally fundamentally sound. This country was not built on forty hours of work a week and i t i s my definite opinion that i t cannot exist on that limited amount of work, especially since the Government has provided so many ways of relief to keep people from working. I could not have made a success, nor do I believe you or any other successful man could have, out of forty hours of work a week,and I don't think Mr. Truman i s smart enough to do i t either much less a laborer. Sincerely yours, H. Lane Young